Illustration: Sarah Grillo/Axios
Venture Capital
💊 Windward Bio, a Swiss immune biotech, raised an $165m crossover financing led by OrbiMed. Novo Holdings, Blue Owl Healthcare Opportunities, SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital, and Pivotal bioVenture Partners, RA Capital Management, Janus Henderson Investors, Sanofi Ventures and Harbour BioMed participated. Go deeper
⚡️ Panthalassa, a Portland, Ore.-based developer of tidal-powered data centers, raised a $140m Series B at a $1b valuation led by Peter Thiel. TIME Ventures, SciFi Ventures, Susquehanna Sustainable Investments, Hanwha Group, Fortescue Ventures, Future Positive, WTI, Nimble Partners, Super Micro Computer, Sozo Ventures, Planetary VC, Leblon Capital, Resilience Reserve, Portland Seed Fund, and the Intrepid Oregon Fund joined. Go deeper
• Reserv, a NYC-based property and casualty insurance technology provider, raised a $125m Series C. KKR led, joined by Bain Capital Ventures and Flourish Ventures. Go deeper
💊 Latus Bio, a Philly and Boston-based gene therapy biotech, raised $42m in a Series A extension, bringing the total round to $97m. 8VC led, joined by DCVC Bio, BioAdvance, Benjamin Franklin Technology Partners, Modi Ventures, Gaingels, Hatch BioFund, Korea Development Bank and Helen's Pink Sky Foundation. Go deeper
🌎 Barocal, a U.K.-based refrigerant-free cooling and heating tech developer, raised €8.5m in seed funding from World Fund, Breakthrough Energy Discovery, Cambridge Enterprise Ventures and IP Group. Go deeper
• LakeFusion, an Austin, Texas-based data management platform developer, raised a $7.5m seed. Silverton Partners led, joined by Carbide Ventures. Go deeper
⚡️ Enviotech, a German startup retrofitting municipal street lights, raised €1m in pre-seed funding led by former Deutsche Bank co-CEO Jürgen Fitschen. Go deeper
Private Equity
🚑 Arete Health, a portfolio company of MBF Healthcare Partners, acquired Virginia Rehabilitation & Wellness and Dorchester County, S.C.-based Summerville Physical Therapy & Balance for Adults. Go deeper
• COEO Solutions, a portfolio company of Riata Capital Group, acquired S-Net Communications, a Schaumburg, Ill.-based cloud security company. Go deeper
• MidOcean Partners closed a single-asset continuation vehicle for Cloyes Gear and Products, a manufacturer of timing drive systems and components for the automotive market. The continuation vehicle secured approximately $300m, with funds managed by Hamilton Lane (Nasdaq: HLNE). Go deeper
• Traffic & Mobility Consultants, an Orlando, Fla.-based transportation and traffic engineering firm backed by Grovecourt Capital Partners, acquired Chindalur Traffic Solutions, a Jacksonville, Fla-based company serving public agencies and private developers. Go deeper
Public Offerings
• Opay, a Nigeria-focused payments platform, has hired bankers for a potential $4b U.S. IPO, per Bloomberg. Go deeper
M&A
⚡️ Aspen Power said it has acquired two New Jersey-based solar projects from the Avidan Group, a New Jersey-based real estate developer. Go deeper
🚑 SGS (SGSN.SW), a Swiss pharmaceutical drug testing and inspection company, acquired Keystone Bioanalytical, a Philadelphia-based bioanalytical testing services provider. Go deeper
• SOL Strategies (Nasdaq: STKE) agreed to acquire HoudiniSwap, a cross-chain swap aggregator, for $18m. Go deeper
Liquidity
• SE Capital is selling Sierra Platform, a Las Vegas-based HVAC and plumbing provider, to Redwood Services, backed by Altas Partners and Union Main Group. Go deeper
Debt
⚡️ Torus, a Salt Lake City-based energy storage, management and generation provider, received $35m in debt financing from Trinity Capital (Nasdaq: TRIN). Go deeper
Funds
• AlphaDrive, a firm focusing on cybersecurity and AI, launched with a $100m fund. Go deeper
• Audax Private Debt raised $1b for Audax Direct Lending Solutions Fund I CV, a continuation fund led by Pantheon. Go deeper
• Deviation Capital, an early-stage VC, launched with $2b AUM following a spinout from Two Sigma. Go deeper
• Haun Ventures, a crypto-focused venture firm, raised $1b across two new funds. Go deeper
• THL Partners raised $6.35b for THL Equity Fund X to invest in middle-market companies. Go deeper
It's Personnel
• Aisha P. Lavinier, formerly with Kirkland & Ellis, and Jim Cole, formerly with Latham & Watkins, joined Paul Weiss in the firm's M&A group and tax department, respectively. Go deeper
• Christine Gambino was promoted from COO to CEO at Omnicom (NYSE: OMC). Go deeper
⚡️ David Mills was named president and CEO of PJM Interconnection. Go deeper
🚑 Jeff Terrell was promoted from investment partner to managing partner at Arboretum Ventures. arboretumvc.com
🌎 Leila Pirbay was promoted to partner at Overture Ventures. Go deeper
⚡️ Michael Ure was named senior advisor in Lazard's power, energy and infrastructure group. Ure was president, CEO and director of Western Midstream Partners. Go deeper
💊 Natalie Holles, former CEO of Third Harmonic Bio, was named CEO of Boston cancer biotech Aura Biosciences. Go deeper
• Vincenzo (Enzo) Vedda, current chief investment officer at DWS, will assume responsibility for the entire investment division, including the Illiquid Assets business previously headed by Stefan Hoops. Go deeper
Odds & Ends
⚡️ Camber Charging, an SF-based charging provider for EV fleets, received a $58m contract from the Los Angeles County Metropolitan Transportation Authority to install and maintain 73 on-route charging systems for electric buses. Go deeper
