Illustration: Aïda Amer/Axios
Venture Capital
• DeepSeek, the Chinese open-sourced foundational model company, raised more than $7.4b at a valuation north of $50b. Founder Lian Wenfeng invested $3b, joined by Tencent and Contemporary Amperex Technology. Go deeper
• Ent, an SF-based workspace security startup, raised $100m in seed funding. Decibel led, joined by Sequoia, Crosspoint Capital Partners, Craft Ventures, Shield Capital, Felicis, and In-Q-Tel. Go deeper
• Respond.io, a Malaysian provider of customer conversation management software, raised $62.5m in Series B funding. Camber Partners led, joined by Endeavor Catalyst. Go deeper
• AttoTude, a Menlo Park-based connectivity scaling company for AI infrastructure, raised $52M in Series C funding. The Westly Group led, joined by Keysight, Allegis Capital, DNX, Sutter Hill Ventures, Mayfield, Canaan, and Wing Venture Capital. Go deeper
🚑 Rejoni, a clinical-stage medtech focused on uterine health, raised $25m from Clavyst Bio, Amed Ventures, Ascension Ventures, Catalyst Health Ventures, Delos Capital, FemHealth Ventures, Iyengar Capital, and Sparta Group. Go deeper
• Traysar, an Austin, Texas-based subterranean defense tech startup, raised $25m in seed funding. Silent Ventures led the round, joined by Lux Capital, Ora Global, NeverLift VC, Mana, Impatient Ventures, New Vista, and Entree Capital. Traysar.com
• Foundation Alloy, a Cambridge, Mass.-based metals engineering platform, raised a $22m Series A. Voyager Ventures led, joined by Trust Ventures, Yamaha Motor Ventures, America's Frontier Fund, Overlap Holdings, Material Impact, Engine Ventures, and El Cap. Go deeper
• Limitless Labs, an AI platform for CAD/CAM in mechanical manufacturing, raised $20m in Series A funding. Dell Technologies and Square Peg led, joined by Grove Ventures, Meron Capital, and Kinetica. Go deeper
• Swsh, an NYC-based fan engagement platform for live experiences, raised $4m in seed funding. Game Changers Ventures led, joined by Stellation Capital, SignalFire, MaC Venture Capital, Scooter Braun, and Guy Oseary. Go deeper
Private Equity
💊 Altaris agreed to acquire drug development firm Simulations Plus (Nasdaq: SLP) for around $375m, or $18.50 per share, and merge it with Altaris portfolio company Chemical Computing Group. Go deeper
• Bertram Capital invested in Bluebird, a Minneapolis-based omnichannel retail commerce services company. Go deeper
• CVC agreed to acquire a majority stake in WillowWood, a Mount Sterling, Ohio-based prosthetics maker, from Blue Sea Capital. Go deeper
• Flatirons Solutions, a Teleo-backed task management platform, acquired Scope AR, a training and remote training solution for frontline workers. Go deeper
• Francisco Partners acquired EfficientIP, a network automation and security solutions provider, from TempoCap and Jolt Capital. Go deeper
⚡️ Lead Edge Capital invested in Elekrik, a Lindon, Utah-based distributor of medium voltage electrical components. Go deeper
• Leonard Green & Partners completed its acquisition of Cumming Group, a Westport, Conn.-based construction project consultancy, from New Mountain Capital. Go deeper
⚡️ The Riverside Co. acquired AssetIntel, a Sanford, Fla.-based provider of infrastructure inspection and asset management software. bridge-intel.com
• Spatco, a Kian Capital portfolio company, acquired Florida-focused Discovery Tank Testing, a fueling site environmental compliance and testing services company, and Tank Wizards, a fuel-tank cleaning and maintenance company. Go deeper
• xFact, a Renovus Capital Partners portfolio company, acquired Stonewall Solutions, a provider of custom tech to state and local governments. Go deeper
Liquidity
• Databricks acquired Panther, an SF-based security operations center developer that was valued at $1.4b in 2021 from backers like HubTree Ventures, Olive Hill Group, Coatue, ICONIQ Growth, Snowflake Ventures, Lightspeed Ventures, Locus Ventures, Fathom Capital, Innovation Endeavors, and S28 Capital. Go deeper
M&A
• Fenchurch Advisory Partners, a British I-banking advisory, will combine with Broadhaven Capital Partners, an NYC-based investment bank. Go deeper
Debt
⚡️Phoenix Tailings, a Woburn, Mass.-based rare earths refiner, received a conditional commitment for $500m in long-term financing from the Defense Department's Office of Strategic Capital. Go deeper
⚡️Aligned Climate Capital, a New York-based clean energy asset manager, closed $33m in construction financing from Live Oak Bank for two community solar projects in Delaware. Go deeper
Fundraising
• Align Capital Partners raised $770m for its fourth flagship PE fund and $375m for a second fund focused on lower mid-market co-investments. Go deeper
• Clearlake Capital Group raised $14.8b for its eighth flagship fund, shy of its original $15b target. Go deeper
⚡️ I Squared Capital is partnering with the U.S. International Development Finance Corp. to form a $3b investment platform for energy infrastructure in South and Southeast Asia. Go deeper
• Pegasus Tech Ventures will serve as general partner of a $60m corporate venture fund for Japanese bio-robotics company Cyberdyne (Tokyo: 7779). Go deeper
