Illustration: Aïda Amer/Axios
Venture Capital
• Cyclic Materials, a Canadian advanced recycling startup, raised US$75m in Series C funding. T. Rowe Price led, joined by Canadian Growth Fund. Go deeper
• Zocks, an SF-based AI platform for financial advisors, raised $45m in Series B funding. Lightspeed and QED Investors led, joined by Illuminate Financial and insiders Motive Partners, Expanse Venture Partners, Entrée Capital, and 14Peaks Capital. Go deeper
• Gigablue, an NYC-based marine carbon removal startup, raised a $20m Series A led by Planet Ocean Capital. Go deeper
💊 Primmune Therapeutics, a San Diego-based cancer biotech, raised $8.6m in Series B extension funding from Bioqube Ventures, Oberland Capital, and Samsara Biocapital. Go deeper
• Midship, a platform automating Sarbanes-Oxley testing and internal audit workflows, raised $4.2m in seed funding. Costanoa Ventures led, joined by Seguin Ventures. midship.ai
• Consio AI, a Toronto-based customer service platform for e-commerce firms, raised US$3.3m in seed funding. RTP Global led, joined by SaaStr Fund and Mu Ventures. Go deeper
Private Equity
• Blackstone agreed to acquire Arlington Industries, a Charlotte, N.C.-based maker of electrical products. Go deeper
🚑 Kodiak Solutions, a TPG portfolio company, acquired Besler & Co., a Princeton, N.J.-based provider of revenue recovery and hospital reimbursement solutions. Go deeper
🚑 Main Post Partners acquired HomeWell, a national franchisor of non-medical, in-home senior care. Go deeper
• Tecum Capital and Inyarek Partners launched energy services company Guardian Propane Partners, which acquired Cape Cod-based F.A. Days & Sons. Go deeper
Liquidity
• Brynwood Partners agreed to sell Great Kitchens Food Co., a maker of private label take-and-bake pizzas, to family-owned food company Rich's. Go deeper
M&A
• Eaton (NYSE: ETN) plans to spin off its mobility group into an independent public company in 2027. Go deeper
• Nvidia (Nasdaq: NVDA) agreed to invest $2b into CoreWeave (Nasdaq: CRWV). Go deeper
• WHP Global agreed to invest $300m into apparel maker Lands' End, as part of a new joint venture. Go deeper
Fundraising
• Basis Set raised $250m for its fourth VC fund. Go deeper
• Leonard Green & Partners raised $3.6b for a fund that will invest primarily in single-asset continuation vehicles. Go deeper
It's Personnel
• Christian Keil joined a16z as an investing partner. He previously was a VP with Astranis Space Technologies. Go deeper
• Richard Lichtenstein joined Berkshire Partners as an operating partner and head of AI and data science. He previously was with Bain & Co. Go deeper
Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Chris Metinko, Dan Primack, Erin Brodwin, Natalie Breymeyer and Brock E.W. Turner contributed to this report.
