Illustration: Tiffany Herring/Axios
Venture Capital
• Polygon Labs, a Cayman Islands-based blockchain developer, is in talks to raise $50m to $100m, per The Information. Go deeper
• Q-Factor, an Israeli neutral atom quantum computing company, raised $24m in seed funding. NFX and TPY Capital led, joined by Intel Capital, Korea Investment Partners and Deep33. Go deeper
• Treon, a Finnish wireless sensor and connected tools provider, raised €6.8m in Series A extension funding from ACME Capital. Go deeper
• Handhold, an Estonian developer of AI agents for sales, raised €3m in seed funding. Entourage Capital led, joined by Inovia Capital and e2vc. Go deeper
• Satellites on Fire, an Argentinian wildfire detection startup, raised $2.7m in seed funding. Dalus Capital led, joined by Draper Associates, VitaminºC, and Draper Cygnus VC. Go deeper
• nFuse, a Bulgaria-based B2B ordering platform, raised €1.7m from Eleven Ventures and Launchub. Go deeper
Private Equity
• ATC Group, an AE Industrial Partners portfolio company, acquired PAS MRO, a Bristow, Okla.-based provider of bearing repair services. Go deeper
🚑 Avista Healthcare Partners acquired Bentec Medical, a Woodland, Calif.-based medical device component maker, from Greyrock Capital Group and Hermitage Equity Partners. Go deeper
• Bregal Sagemount invested in Redgate Software, a U.K. platform for database DevOps and lifecycle management. Go deeper
• CenterGate Capital invested in Spartaco Tool Group, a Clover, S.C.-based maker of professional-grade tools. Go deeper
🚑 General Atlantic agreed to buy San Diego-based home care company Team Services from Alpine Investors for around $3b (including debt), per Bloomberg. Go deeper
⚽ Serie A, an Italian pro soccer league, is weighing the sale of a minority stake in its international media rights to private equity, per Reuters. Go deeper
• Westnet, an Armory Capital portfolio company, acquired Low Voltage Installations, a Golden, Colo.-based fire station alerting system provider. Go deeper
M&A
• Cyient Semiconductors, an East Hartford, Conn.-based subsidiary of Cyient Group (NSE: CYIENT), acquired a majority stake in Kinetic Technologies, a San Jose, Calif.-based power semiconductor solutions provider, for $85m. Go deeper
• Miotal, an asset‑backed metals platform, agreed to merge with Fifth Era Acquisition Corp I (Nasdaq: FERA), a SPAC formed by Fifth Era and Blockchain Coinvestors. Go deeper
• Rezolve AI (Nasdaq: RZLV) is making a hostile takeover bid for Commerce.com (Nasdaq: CMRC) after negotiations failed. Go deeper
Fundraising
• A‑Street, an investment fund focused on student learning, raised $675m from the Walton family and the LEGO Foundation. Go deeper
Personnel
💊 David A. Brown was promoted to chief scientific officer at Stealth BioTherapeutics. Go deeper
🚑 Randy Hyun, former president of Evernorth Health System Services, joined Frazier Healthcare Partners as an executive-in-residence. Go deeper
🌎 Nare Janvelyan was promoted to principal at Voyager Ventures. Go deeper
Odds & ends
⚡️Avalanche Energy, a Tukwila, Wash.-based micro-fusion energy developer, received a $5.2m DARPA contract to develop portable nuclear batteries. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, Dan Primack, Lucinda Shen, and Brock E.W. Turner contributed to this report.
