Illustration: Shoshana Gordon/Axios
Venture Capital
💊 Mirador Therapeutics, a San Diego-based developer of precision medicines for inflammatory and fibrotic diseases, raised $250m in Series B funding from T. Rowe Price, Adage Capital Partners, Fidelity and insiders Arch Venture Partners, OrbiMed, Fairmount, Point72, Farallon Capital Management, Boxer Capital, TCGX, Invus, Logos Capital, Moore Strategic Ventures, Blue Owl Healthcare Opportunities, Woodline Partners, and Venrock. Go deeper
• Wasabi, a Boston-based cloud storage company, raised $70m at a $1.8b valuation. L2 Point Management led, joined by Pure Storage and insiders like Fidelity. Go deeper
🚑 HPS/PayMedix, a Milwaukee-based health care financing company, raised $33m in equity and debt financing. HLM Investment Partners led a $16 million growth equity investment, joined by Escalate Capital Partners, RVM Enterprises and existing investors. The $17 million debt facility was provided by Escalate. Go deeper
• Flip, a New York-based customer service call automation company, raised $20m in Series A funding co-led by Next Coast Ventures and Ridge Ventures. Go deeper
💊 Enspire DBS Therapy, a Cleveland-based maker of implantable neuromodulation devices for post-stroke recovery, raised $10.3m in Series B1 funding. Genesys Capital led, joined by Cleveland Clinic and JobsOhio Ventures. Go deeper
Private Equity
• Bain Capital Double Impact invested in the American College of Education, an online private college. Go deeper
🚑 Integrated Diagnostic Services, an HCAP Partners portfolio company, acquired Van Nuys, Calif.-based Core Analytics Lab & Radiology. Go deeper
• Investindustrial acquired Proveris, a Hudson, Mass.-based provider of spray and aerosol testing instrumentation, software and laboratory solutions for pharma. Go deeper
• J.F. Lehman acquired Wellman Dynamics, a Creston, Iowa-based provider of magnesium and aluminum sand castings for aerospace and defense applications, from TRM Equity (which retains a minority stake). Go deeper
• MPearlRock, a partnership between MidOcean Partners and Kroger, acquired snack brand The Good Crisp Company. Go deeper
🚑 Sheridan Capital Partners invested in ICANotes, an Annapolis, Md.-based provider of practice management and EHR software. Go deeper
• Solmetex, backed by GTCR, acquired ReLeaf, a hands-free dental hygiene company. Go deeper
🚑 TJC made a follow-on investment in GrowthLoop, an NYC-based provider of agentic marketing solutions. Go deeper
• TrussPoint, a Soundcore Capital Partners portfolio company, acquired Kansas-based Eaton Roofing & Exteriors. Go deeper
• Turn/River agreed to buy Starlims, a Hollywood, Fla.-based lab informatics company, from Francisco Partners for around $200m. Go deeper
Liquidity
• CrowdStrike (NASDAQ: CRWD) acquired browser security startup Seraphic Security for a reported $400m. Seraphic had raised around $37m from GreatPoint Ventures, CrowdStrike Falcon Fund, Planven, Cota Capital, and Storm Ventures. Go deeper
M&A
• Bakkt Holdings (NYSE: BKKT) will acquire Distributed Technologies Research, a stablecoin infrastructure provider. Go deeper
• CI Global Asset Management, backed by Mubadala, agreed to buy Invesco's C$26b Canadian investment fund business. Go deeper
• CoinGecko, a crypto data platform, is weighing a sale for around $500m, per CoinDesk. Go deeper
🚑 Net Health, a maker of software for rehab therapy and post acute care, acquired Keet Health, a digital health platform, from WebPT. Go deeper
• Old Glory Bank, an Oklahoma-based crypto-friendly bank, agreed to go public at an implied $250m valuation via a merger with Digital Asset Acquisition Corp. (Nasdaq: DAAQ), a SPAC led by Peter Ott (Cambium Capital Management). Go deeper
Going Public
• Bitpanda, a Vienna-based crypto exchange valued by VCs in 2021 at $4.1b, is prepping a Frankfurt IPO for this year, per Bloomberg. Go deeper
Fundraising
⚡️AIP Management of Denmark held a €2b first close on its fifth energy transition and infrastructure fund, which is targeting a total of €3b. Go deeper
• Bain Capital closed on over $5b for its real estate strategy. Go deeper
• CF Private Equity, an affiliate of Commonfund, raised $187m for its fifth PE co-investment fund. Go deeper
🌎 Superorganism, a VC firm focused on biodiversity, raised $26m for its debut fund. Go deeper
Debt
⚡️CleanCapital, a New York City-based solar and storage developer, closed a $300m HoldCo debt facility with Infranity. Go deeper
Odds and ends
⚡️Aspen Power, a New York City-based solar and storage developer, raised $200m from Deutsche Bank. Go deeper
• Lilac Solutions, an Oakland, Calif.-based lithium extraction startup, announced a 10-year offtake agreement with Traxys North America to buy lithium carbonate produced at Lilac's Great Salt Lake facility in Utah. Go deeper
It's Personnel
• M13 promoted Morgan Blumberg to partner. Go deeper
• Bertram Capital promoted Chris Brown to partner. Go deeper
• Lerer Hippeau promoted Will McKelvey to principal, Tanaz Mody to operating partner, and Emily Libresco to head of marketing and communications. lererhippeau.com
🌎 Greg Revelle has joined Rivian as chief customer officer. Revelle was previously the founder and CEO of Revatek. Go deeper
Ryan Barwick, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Chris Metinko, Dan Primack, and Aaron Weitzman contributed to this report.
