Illustration: Lazaro Gamio/Axios
Venture Capital
• EDX Markets, a Hoboken, N.J.-based institutional crypto trading platform, raised $76m in Series C funding led by SBI Holdings. Go deeper
🚑 Cyllene Therapeutics, a Paris-based neurology company, raised €33m in Series C funding. GordonMD Global Investments and M Ventures led. Andera Partners SAS, Bpifrance Investissement through its InnoBio 3 Fund, and Lamond Ventures joined. Go deeper
• Arkenstone Defense, a Menlo Park, Calif.-based defense tech provider for the back office, raised a $35m seed round led by J2 Ventures. Susa Ventures, Granite Hill Capital Partners, and Artis Ventures joined. Go deeper
• Tangos AI, an Israeli tech company for financial crime investigations, raised a $20m seed round. Red Dot Capital Partners led, joined by Leaders Fund, Clarim, Venture Israel, Signal Fire, Clutch Capital, Selah Ventures and Bright Data. Go deeper
🚑 Handspring Health, a Jersey City, N.J.-based virtual mental health company, raised $19m in Series B funding. RPS Ventures led, joined by Angelini Ventures. Go deeper
• One Raven, a Phoenix-based smart home systems startup, raised a $5m seed led by Fifth Wall. Go deeper
Private Equity
• Arlington Capital Partners formed a naval services platform called Highwater, via the merger of Eptec Defence with new purchase AMP United. Go deeper
• CompassMSP, backed by Agellus Capital, acquired Philadelphia-based IT provider The Logic Group. Go deeper
• Duck Creek Technologies, backed by Vista Equity Partners and CapitalG, acquired Send Technology Solutions, a London-based underwriting orchestration engine that's raised over $10m from firms like Mercia Ventures and Breega. Go deeper
• I Squared Capital agreed to acquire Milestone Environmental, a Houston-based provider of waste management solutions for the energy and industrial sectors, from SK Capital Partners. Go deeper
⚡️ The Private Department of Sheikh Mohammed bin Khalid Al Nahyan invested $1.1b in MidOcean Energy, an LNG company backed by EIG. Go deeper
• Paddletek, backed by Thirty-5 Capital, acquired PIKKL, a paddle equipment company. Go deeper
🚑 Real Chemistry, a New Mountain Capital portfolio company, acquired Spurwing Communications, a Singapore-based health comms and marketing firm. Go deeper
• Valstone, backed by Viking Global, acquired Nascent Technology, a Charlotte, N.C.-based terminal operations solutions company. Go deeper
Liquidity
• Barracuda Networks, backed by KKR, acquired Evo Security, an Austin, Texas-based identity and access management provider that had raised around $15m from TechOperators, MetroSITE Group, Sorenson Capital, Inner Loop Capital, Strategic Cyber Ventures, and The University of Texas at Austin. Go deeper
• Ecolab (NYSE: ECL) completed its $4.75b acquisition of Canadian data-center cooling company CoolIT Systems from KKR. Go deeper
🚑 Onto Health, a Chicago-based fertility provider backed by Humania Capital and ARTIS Ventures, acquired Levy Health, a Dover, Del.-based clinical decision support software company that had raised about $8m from Possible Ventures, and XYZ Venture Capital. Go deeper
M&A
• Sompo (Tokyo: 8630) agreed to acquire workers' comp insurance firm Service Insurance Cos. Go deeper
• Warehouse Anywhere, a Denver-based storage technology company, acquired XPS Solutions, a Richardson, Texas-based self-storage call center company. Go deeper
Public markets
🌎 Rivian, an Irvine, Calif.-based EV maker, plans to raise $1.5b by selling 75m shares of its stock. Go deeper
Fundraising
• B Capital closed B Capital Ascent Fund III at a hard cap of $500m. Go deeper
• Chemistry Ventures is raising $500m for its second fund. Go deeper
It's Personnel
• Leahana Grimley joined Dechert as an SF-based partner focused on PE transactions and M&A. She previously was with Kirkland & Ellis. Go deeper
• Scott Levine joined FTV Capital as managing director of strategic biz dev. He previously was with General Atlantic. Go deeper
• William Blair Investment Management promoted Olga Bitel to chief investment strategist. Go deeper
Debt
• Nscale, a British neocloud company, secured a $900m line of credit from a syndicate of banks including J.P. Morgan, Goldman Sachs, Morgan Stanley, MUFG, RBC Capital Markets, Bank of America, Credit Agricole CIB, Deutsche Bank, Mizuho, SMBC, TD Securities and KeyBank. Go deeper
