Illustration: Lindsey Bailey/Axios
Venture Capital
• Allica Bank, a U.K. digital business bank, raised $155m in Series D funding valuing it at $1.2b. Ventura Capital, GLG, and Sona AM invested, along with TCV and Blue Owl. Go deeper
• Gambit Security, an Israeli cyber resiliency platform, raised $61m in combined seed and Series A funding from Spark Capital, Kleiner Perkins, and Cyberstarts. Go deeper
💊 BreezeBio, a Calif.-based mRNA diabetes therapy biotech, raised a $60m Series B. Yuanta Investment and DSC Investment led. Go deeper
• Rowspace, an SF-based AI decision-making platform for financial institutions, raised $50m. The Series A was co-led by Sequoia and Emergence Capital, and the seed was led by Sequoia. Stripe, Conviction, Basis Set, and Twine participated. Go deeper
• Harper, an insurance brokerage startup, raised $46.8m in Series A and seed funding. Emergence Capital led both, with participation from YC and Peak XV Partners. Go deeper
💊 Alveus Therapeutics, next-generation obesity and metabolic disease therapy developer, raised $37m in Series A extension financing from Jeito Capital and Novo Holdings. Axios Pro flashback
⚡️ Chariot Defense, an SF-based battlefield power company, raised a $34m Series A. Andreessen Horowitz led, joined by DCVC, LMNT, Marlinspike, Overmatch, Shield Capital, Ensemble, Trenches Capital, General Catalyst and XYZ. Go deeper
• Comp, a Brazilian HR software company, raised $17.3m in Series A funding led by Khosla Ventures. Kaszek, Canary, Abstract Ventures and Endeavor Catalyst joined. Go deeper
• Cicada, a New York-based electronic trading platform, raised $13.5m in Series A funding led by Citi, joined by L4 (Brazilian Stock Exchange B3's venture capital arm), Kaszek, Dila, and Crestone. cicada.io
• BeyondMath, a London-based foundational AI model company, raised a $10m seed extension led by Cambridge Innovation Capital, joined by existing investors UP.Partners, Insight Partners, and InMotion Ventures. Go deeper
• Elly, a New York-based hiring platform, raised $8m led by Sorenson Capital, with participation from Atomic and Next Wave Capital. Go deeper
Private Equity
• Baird Capital made a majority investment in autoLOTO, a Coeur d'Alene, Idaho-based software and services company. autoloto.co
• Definian, backed by Renovus Capital Partners, acquired Incite Analytics, a Michigan-based data analytics consultancy. Go deeper
• Relation Insurance Services, backed by Aquiline Capital Partners, acquired Thorn Creek Insurance Services' assets. Thorn Creek, based out of Springfield, Ill., writes farm, business, and livestock insurance. Go deeper
• Tavoron, backed by Fusion Capital Partners, acquired Doig Corporation, a Cedarburg, Wis.-based factory automation company. Go deeper
• Velocity One, backed by Charlesbank Capital Partners, acquired Kaney Aerospace, a Rockford, Ill.-based provider of electromechanical actuation, motion control, and advanced power solutions. Go deeper
• Wynnchurch Capital agreed to acquire Arcosa Marine Products, a maker of inland barges, for $450m from Arcosa (NYSE: ACA). Go deeper
Fundraising
🚑 Ascend Capital Partners, a health care-focused private equity firm, closed its second fund with $791m. Go deeper
It's Personnel
💊 Andy Ham, a JPMorgan banker since 2021, was promoted to co-head of North America biopharma M&A. Go deeper
• Citigroup has formed a group focused on infrastructure deals tied to artificial intelligence, led by Ric Spencer and Ashish Agrawal. Go deeper
🚑 James Mitford, former co-head of EMEA health care investment banking at JPMorgan, was promoted to vice chair of investment banking. Go deeper
💊 John Arbuckle, former Bank of America investment banker, joined JPMorgan as co-head of North America biopharma M&A. Go deeper
🚑 Roy Wouters, former Bank of America investment banker, joined JPMorgan as co-head of Europe, the Middle East and Africa health care investment banking. Go deeper
Ryan Barwick, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Lucinda Shen, Ryan Lawler, Alan Neuhauser, Chris Metinko, Erin Brodwin, Natalie Breymeyer and Brock E.W. Turner contributed to this report.
