Illustration: Sarah Grillo/Axios
Venture Capital
💊 Triana Biomedicines, a molecular glue degrader maker, raised $120m led by Ascenta Capital and Bessemer Venture Partners. Pfizer Ventures, RA Capital Management, Atlas Venture, Lightspeed Venture Partners, Surveyor Capital, YK Bioventures, Regeneron Ventures, Invus and Finchley Healthcare Ventures joined. Go deeper
• Antithesis, a Northern Virginia-based software testing platform, raised $105m in Series A led by Jane Street. Go deeper
• Verkada, a San Mateo, Calif.-based business security company, raised $100m at a $5.8b valuation led by CapitalG. Go deeper
• Vinci, a Palo Alto, Calif.-based semiconductor and design company, raised $46m in seed and Series A funding. Xora Innovation led, joined by Khosla Ventures and Eclipse. Go deeper
• Ostium, a decentralized exchange for real-world assets, raised $20m in Series A funding at a $250m valuation. General Catalyst and Jump Crypto led, joined by Coinbase Ventures, Wintermute and GSR. Go deeper
💊 Circular Genomics, a San Diego-based brain health diagnostics company, raised a $15m Series A. Mountain Group Partners led, joined by Poplar Grove Investors, HIP Fund and the Alzheimer's Drug Discovery Foundation. Go deeper
💊 Iolyx Therapeutics, a Burlingame, Calif-based ocular inflammation and autoimmune biotech, raised a $15m Series B. Frazier Life Sciences led and GC&H participated. Go deeper
• Supper, an NYC-based agentic data platform, raised $11m in seed funding. USV led, joined by Inspired Capital, Box Group, Torch, and Avid. Go deeper
🚑 Trial Library, a clinical trials patient matching platform, raised $10m in Series A funding. SemperVirens VC and Next Ventures led, joined by Sanofi Ventures, Lux Capital, Civilization Ventures, How Women Invest, and Overwater Ventures. Go deeper
• Autolane, a Palo Alto, Calif.-based developer of "air traffic control" for autonomous cars, raised $7.4m led by Draper Associates and Hyperplane. Go deeper
• Ridley, a Newark, Del.-based startup that helps homeowners sell their homes, raised a $6.4m seed round. Fifth Wall led, joined by 1984 Ventures, 1Sharpe Ventures, Moxxie Ventures, Aglae Ventures, Park Rangers Capital, and other angel investors. Go deeper
• Axis, an LA-based onchain yield protocol, raised $5m led by Galaxy Ventures, with OKX Ventures, FalconX, GSR, Maven 11, and CMS Holdings participating. Go deeper
💊 Auxilius Pharma, a Boston-based cardiology pharmaceutical company, raised a $4m Series A round from ff.VC, ASI, NIF ASI and NanoGroup. auxiliuspharma.com
Private Equity
• Braemont Capital acquired Royal Cup, a Birmingham, Ala.-based provider of coffees and teas. Go deeper
• Gerard Daniel Worldwide, a Graycliff Partners portfolio company, acquired Durex Products, a Luck, Wis.-based manufacturer of wire and synthetic screening products. Go deeper
• NMS Capital acquired Axiom Medical, a The Woodslands, Texas-based provider of tech-enabled workplace incident case management solutions, from Serent Capital. Go deeper
• Sequoia Financial Group, a Kudu Investment Management and Valeas Capital Partners portfolio company, acquired Sterling Financial Group, a Pasadena, Calif.-based investment advisory firm. Go deeper
Going Public
• General Purpose Acquisition, a SPAC targeting maritime businesses and digital infrastructure, raised $200m in its IPO. Go deeper
• SilverBox V, a SPAC formed by SilverBox Capital, raised $240m in an upsized IPO. Go deeper
• United Acquisition I, a SPAC led by Paul Packer Globis Capital Advisors, filed for a $100m IPO. Go deeper
Liquidity
• OpenAI agreed to buy Neptune, a Palo Alto, Calif.-based developer of tools for analyzing progress during AI model training. Neptune raised VC funding from firms like Almaz Capital. Go deeper
• Quadient (Paris: QDT) agreed to acquire CDP Communications, a Canadian provider of document accessibility and automation solutions, from Thompson Street Capital Partners. Go deeper
It's Personnel
• Nate Fick, former ambassador-at-large for cyberspace and digital policy at the U.S. State Department, joined Cerberus Capital Management as chief strategy officer for equities and a senior managing director. He also once spent a decade as an operating partner with Bessemer Venture Partners. Go deeper
Odds & Ends
💊 Akebia Therapeutics, a Cambridge, Mass.-based renal treatment biotech, agreed to pay $12m upfront and as much as $592m to Waltham, Mass.-based Q32 Bio to acquire its Phase 2 rare kidney disease drug. Go deeper
• PayJoy, an SF-based smartphone financing company focused on emerging markets, secured a $140m corporate debt facility from Neuberger Berman. Go deeper
💊 Regeneron Pharmaceuticals, a Tarrytown, N.Y.-based biopharma company, will pay $150m upfront to Tessera Therapeutics to develop a treatment for a genetic liver and lung disease. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
