Illustration: Maura Losch/Axios
Venture Capital
💊 Alloy Therapeutics, a Boston-based AI drug discovery startup, raised $40m in Series E funding at a $1b valuation from 8VC, JIC Venture Growth Investments, Echo Capital, Mubadala Capital, Presight Capital, Thiel Capital, Founders Fund, Alexandria Venture Investments, Gaingels, and Ulysses Diversified Holdings. Go deeper
• Keebler Health, an AI risk adjustment company, raised a $16m Series A led by Flare Capital and joined by Sands Capital. Go deeper
• Signal Labs, a platform for identifying signals across organizations, raised $10m in seed funding led by Lightspeed. Go deeper
• Capsule, an Israeli agentic AI security developer, raised $7m in seed funding led by Lama Partners and Forgepoint Capital International. Go deeper
• Stendr, a Norwegian defense-tech startup, raised $5.4m from RainFall, ACME, SkyFall, Sisyphus, Antler, StartupLab, Off Piste, and Andøya Ventures. Go deeper
• Brix, a fintech focused on tokenizing emerging markets assets, raised $5.5m from FRWRD Ventures, Circle Ventures, ConsenSys, Webrazzi Ventures, Borderless Capital, and Paribu Ventures. Go deeper
Private Equity
• AeriTek Global, backed by Mill Point Capital, acquired the food service refrigeration and HVAC assets of National Refrigeration & Air Conditioning Products. Go deeper
• Cerberus Capital Management agreed to acquire Lendco, a British buy-to-let and bridging lender, from Cabot Square Capital. Go deeper
• Fortreum, a Landsdowne, Virginia-based cybersecurity advisor firm backed by Gryphon Investors, acquired Kovr.AI, a Reston, Virginia-based AI compliance platform that had been seeded by Xfund, IronGate Capital Advisors, DEV Capital, OODA Ventures, Bull City Venture Partners, Virginia Venture Partners, Battery Ventures, Hack Factory, and McLean Capital. Go deeper
⚡️ H.I.G. Capital acquired Inventus Power, a Woodridge, Illinois-based battery maker. Go deeper
⚡️ I Squared agreed to acquire Spire's (NYSE: SR) natural gas storage assets in Wyoming and Oklahoma for $650m. Go deeper
• Midland Industries, backed by Gemspring, acquired Trading Services International, a NYC-based distributor of HVAC components. Go deeper
•New Mountain Capital launched VictoryRe, a reinsurance platform. Go deeper
• One Planet Group is investing $50m in Quite Remarkable, a luxury personalized travel company. Go deeper
⚡️ PK Cos, a portfolio company of DC Capital Partners, acquired Pro‑Surve Technical Services, an inspection service for industry and energy. Go deeper
• Saudi Arabia's PIF is "on the verge of cutting support" for LIV Golf, per the FT. Go deeper
Liquidity
🚑 Afterburner Capital and Council Capital exited Advanced Care Partners, a provider of home-based care for medically fragile children and adults. Go deeper
• Viant (Nasdaq: DSP) agreed to acquire Tvision, an NYC-based ad measurement company that had raised over $60m from firms like Susquehanna Asia Investments, DBJ Capital, Golden Ventures, and Accomplice VC. Go deeper
Fundraising
• Accel raised $5b in new funds. Go deeper
🚑 The Spanish government plans to raise $200m as part of a biotech initiative focused on Boston. Go deeper
Odds & Ends
• Thoma Bravo has signed a multi-year agreement with Alphabet's Google Cloud to help its portcos adopt AI. The project will cost the firm billions over several years, per Bloomberg. Go deeper
