Illustration: Aïda Amer
Venture Capital
• Keyfactor, a Cleveland-based digital identity management company, raised over $1b led by Summit Partners. Go deeper
• Tripo AI, a Chinese developer of interactive 3D foundation models, raised a $150m Series A3 from Geely Capital, 4399 Network, Tanwan, Giant Network, Fosun Capital, Orinno Capital, CoStone Capital, Addor Capital, T-Capital, and Muhua Tech Ventures. Go deeper
• Sherpa.ai, a Spanish data-sovereign AI development startup, raised $18m from Forgepoint Capital and insiders Mundi Ventures, Ekarpen, Allegra Holdings, and SETT. Go deeper
• GeoSurge, a London-based brand visibility platform, raised a $12m seed. AlbionVC led, joined by Play Ventures, Octopus Ventures, Celero Ventures, Boost Capital, Passion Capital, and Tuesday Capital. Go deeper
⚡️ TaiSan, a U.K. battery materials startup, raised £4.65m in seed funding led by Eos Advisory and Mercia Ventures. Go deeper
•Aylight, a Swiss photonics company, raised a €4.5m pre-seed. Elaia and Swisscom Ventures led, joined by Verve Ventures and Plug and Play. Go deeper
Private Equity
• Argosy acquired a controlling stake in K&L Freight Management, a St. Charles, Ill.-based provider of asset-light 3PL services. Go deeper
• Avance invested in Lexxel, a Rochester, N.Y.-based provider of maintenance and repair services to critical infrastructure. Go deeper
⚡️ Blackstone agreed to acquire Dresser Utility Solutions, a provider of utility metering equipment, from First Reserve. Go deeper
• InfraVia Capital Partners agreed to acquire D-Marin, a Greece-based marina operator, from CVC Capital Partners for over €1b. Go deeper
• Kinderhook Industries acquired and merged Jack Doheny Cos. and Vacuum Truck Rentals into a single platform for specialty infrastructure equipment rental. Go deeper
• Permira invested in Quadrante, an Iberian consultancy focused on engineering, architecture, environment, and sustainability. Go deeper
🚑 Surplus Solutions, an NMS Capital portfolio company, acquired DCM BioServices, a Frederick, Md.-based provider of laboratory automation solutions. Go deeper
Liquidity
• Navigator Global Investments (ASX: NGI) acquired a portfolio of minority, net revenue-share interests in alternative asset managers from Stable Asset Management. Go deeper
Going Public
• Hub International, a Chicago-based insurance broker owned by Hellman & Friedman, plans to seek around $3b in its IPO, per Bloomberg. Other backers include T. Rowe Price, Alpha Wave Global, and Temasek. Go deeper
M&A
⚡️ Italian energy company Eni is buying a 25% stake in a Chilean lithium project owned by startup EnergyX for $225m. Go deeper
