Illustration: Sarah Grillo/Axios
Venture Capital
• Digital Asset Holdings, the NYC-based company behind the Canton blockchain network, is raising roughly $300m at a $2b valuation led by a16z crypto, per Bloomberg. Go deeper
• Ciridae, an SF-based AI transformation startup, raised a $20m seed. Accel led, joined by a16z, General Catalyst, Sunflower Capital, and Backcountry Ventures. Go deeper
• ProcurePro, an Australian construction procurement platform, raised A$15m. QIC Ventures led, joined by Airtree, Glitch Capital and Bouygues. Go deeper
• Sindhuja Microcredit, an Indian financial service provider for small businesses, raised $5m from Abler Nordic, GAWA Capita, and Oikocredit. Go deeper
• Rogue, a Vista, Calif.-based high-protein snack brand, raised $2.5m in pre-seed funding. Science led, joined by Uncommon Ventures and Simple Food Ventures. Go deeper
• Boundary Labs, an NYC-based developer of a protocol that makes stablecoins institution-ready, raised $2m in pre-seed funding. Galaxy Ventures led, joined by BlackWood and FirstBlock Capital. Go deeper
• QMatter, a London-based quantum technology startup, raised £890k in pre-seed funding. 55 North led, joined by XTX Ventures, Bellstate Oy, and the Conception X Angel Syndicate. Go deeper
Private Equity
• 365 Retail Markets, backed by Providence Equity Partners, completed its acquisition of self-service commerce developer Cantaloupe. Go deeper
• Basalt Infrastructure Partners acquired Relam, a maintenance-of-way and hi-rail equipment lessor, from Paceline Equity Partners. Go deeper
• Cartridge Technologies, a CenterGate Capital portfolio company, acquired Data Conversion Laboratory, a Fresh Meadows, N.Y.-based provider of structured data and content transformation services. Go deeper
• RS2 Healthcare Partners, formerly Riverside Partners, closed a single-asset continuation vehicle for Loftware, a Portsmouth, N.H.-based AI labeling and packaging service it bought in 2014. Go deeper
• Seaga Manufacturing, a portfolio company of Dominus Capital, acquired Three Square Market, a River Falls, Wis.-based provider of micromarket convenience retail tech and self-service solutions. Go deeper
Public Offerings
• INNIO Group, a distributed energy company owned by Advent International, filed for an IPO. It reports $142m of net income on $2.64b in revenue for 2025, and plans to list on the Nasdaq (INIO). Go deeper
• Lincoln International, a Chicago-based investment banking advisory, set IPO terms to 21m shares at $18-$20. It plans to list on the NYSE (LCLN). Go deeper
⚡️ WhiteHawk Minerals, a Philadelphia-based owner of natural gas mineral and royalty interests in the Marcellus and Haynesville Shales, filed for a $100m IPO. It plans to list on the NYSE (WHK) and is backed by Omega Capital Partners. Go deeper
Liquidity
• Platinum Equity completed its sale of Unical Aviation, a Glendale, Ariz.-based provider of aerospace aftermarket solutions, to Airbus (Paris: AIR) subsidiary Satair. Go deeper
M&A
💊 Drummond Scientific Company, a Broomhall, Penn.-based medical technology manufacturer, acquired Accu-Glass, a St. Louis-based manufacturer of high-precision glass capillaries used in medical applications. Go deeper
🚑 HealthScape Advisors, a subsidiary of The Chartis Group, acquired PayerAlly, an Orlando, Fla.-based pharmacy consultancy. Go deeper
• MoonPay, a Miami-based crypto payments network, acquired Dawn Labs, an AI trading infrastructure startup focused on prediction markets and digital asset trading. Go deeper
• SRS Distribution, a subsidiary of The Home Depot, completed its acquisition of Mingledorff's, a Peachtree Corners, Ga.-based HVAC equipment and parts distributor. Go deeper
Funds
• Kalos Ventures, an NY-based early-stage venture firm, raised $78.8m for its inaugural fund. Investors include ZOMA Capital, GCM Grosvenor, MassMutual, Sorenson Impact Advisory and Pivotal Ventures. Go deeper
Debt
• Ripple Prime secured a $200m debt facility from Neuberger Specialty Finance. Go deeper
It's Personnel
• David Prendergast joined Denali Growth Partners as a principal. He previously was with Enhanced Healthcare Partners. Go deeper
• Eric Crowley, formerly at GP Bullhound in the firm's consumer technology practice, joined Houlihan Lokey (NYSE:HLI) as a managing director in the firm's global technology group based in San Francisco. Go deeper
• Marco Caffuzzi, formerly at Skadden, joined Latham & Watkins as a partner in the firm's real estate practice. Go deeper
• Tom Hale, CEO of ŌURA, was appointed to the board of webAI. Go deeper
