Illustration: Rebecca Zisser/Axios
Venture Capital
• Fal, an SF-based cloud service for AI video models, is in talks to raise $300m to $350m at a valuation of around $8b, per The Information. Go deeper
• Oasis Security, an Israeli startup that helps manage non-human accounts, raised $120m in Series B funding. Craft Ventures led, joined by Sequoia Capital, Accel, and Cyberstarts. Go deeper
• Cape, an Arlington, Va.-based mobile carrier, raised $100m in Series C funding at a $900m valuation. Bain Capital Ventures and IVP led, joined by 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Go deeper
• GeoWealth, an NYC-based wealth management tech platform, raised $42.5m in Series C extension funding from Goldman Sachs. Go deeper
• Anori, a building approvals platform spun out of Alphabet, raised $26m. Prologis and Builders VC led, joined by Series X Capital. Go deeper
🌎 Eternal.ag, a German developer of autonomous harvesting robots for greenhouses, raised €8m from Simon Capital, Oyster Bay Venture Capital, EquityPitcher Ventures, and Backbone Ventures. Go deeper
⚡️Pado AI, an SF-based developer of energy efficiency software for data centers, raised $6m in seed funding led by NovaWave Capital. Go deeper
🌎 Homaio, a French retail investment site for carbon markets, raised €3.6m. Raise Ventures led, joined by Groupe Eren, XAnge, and Redstone. Go deeper
• Cleavr, a French autonomous accounts receivable platform, raised €1m from Kima Ventures and Better Angle. Go deeper
Private Equity
• 3M (NYSE:MMM) and Bain Capital are partnering to buy Madison Fire & Rescue, a rescue technology and fire-suppression products company, for $1.95b from Madison Industries. Go deeper
• Burlington Capital Partners and RF Investment Partners acquired RS Boes, a Pensacola, Fla.-based franchisee of building services company Neighborly. Go deeper
🚑 Chartis, a Blackstone portfolio company, acquired Leap AI, an SF-based health care operations enablement tech company. Go deeper
• CVC Capital Partners and Nordic Capital are exploring a sale or listing of Cary Group, a vehicle glass repair firm that could be valued over €3b, per Bloomberg. Go deeper
• RedCat, a London-based hospitality group backed by Oaktree Capital Management, is working with Rothschild & Co. to raise capital that could value it at several hundred million pounds, per Bloomberg. Go deeper
• Sterling Investment Partners acquired Cyber Advisors, a Maple Grove, Minn.-based provider of cybersecurity and managed IT services. Go deeper
🚑 Viventium, an LLR Partners portfolio company, acquired Perks4Care, a Boca Raton, Fla.-based rewards platform for post-acute care workers. Go deeper
Liquidity
• KKR is in talks to sell Canadian data-center cooling company CoolIT Systems for up to US$5b to Ecolab (NYSE: ECL), per the WSJ. Go deeper
M&A
• Prologis (NYSE: PLD) and GIC formed a $1.6b joint venture to develop build-to-suit U.S. logistics facilities. Go deeper
⚡️Zenobē Energy, a London-based fleet and storage developer, acquired SF-based fleet charging company Revolv. Go deeper
Fundraising
• Blackstone raised over $12b for its third Asia-Pacific buyout fund. Go deeper
It's Personnel
⚡️ Brandon Craig was promoted to CEO of Australian miner BHP Group (NYSE: BHP), effective July 1. Go deeper
🌎 Kevan Krysler, former CFO of Everpure, was named CFO at Carbon Robotics. Go deeper
• Matt Young, former CEO of UserVoice, was named CTO of Bitly. Go deeper
• Saumay Kumar was named CEO of TeleRay, succeeding Timothy Kelley, who will transition to chief strategy officer. Go deeper
Debt
⚡️Fervo Energy, a Houston-based geothermal startup, raised $421m in debt financing via lead arrangers RBC Capital Markets, Barclays, BBVA, HSBC, MUFG and Société Générale. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Chelsea Naso, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
