Illustration: Aïda Amer/Axios
Venture Capital
💊 Drug Farm, a Shanghai and Albany, N.Y.-based infection and immunological diseases company, raised $55m in Series D funding led by Shanghai Pudong Leading Area Investment Center and Shanghai Puxing Collaborative Private Equity Fund Partnership Enterprise. Tukar Capital, Fuzhou Xinhe Fund, Shenzhen Luohu Donghai Chempartner Investment Fund, and Keyuan Pharma joined. Go deeper
• Valarian, a London-based software layer for governments and enterprises, raised a $50m Series A led by NEA. Go deeper
• Keyper, a UAE-based proptech, raised $11m in Series A funding led by Speedinvest, joined by NeoVentures (Mashreq's venture fund), Middle East Venture Partners, Dubai Future District Fund, Property Finder, Arab National Bank, Ellington Properties Development LLC, Dar Ventures and Abbey Road Investment Group. Go deeper
• Guthrie AI, a Philadelphia-based construction bidding platform, raised a $4m seed led by Chicago Ventures. Go deeper
Private Equity
• AE Industrial Partners acquired Powder Alloy Corporation, a Loveland, Ohio-based provider of engineered metallic, ceramic, and thermal spray powders. Go deeper
⚡️ A Blackstone-led consortium is investing $5.34b in Williams (NYSE: WMB) to fund five power projects. Apollo and KKR are also participating. Go deeper
• Kaltroco invested in Smile America Partners, a Farmington Hills, Mich-based mobile school dental program. Beach Point Capital Management exited. Go deeper
• Mill Point Capital agreed to acquire Total Safety Supplies & Solutions, a Houston-based distributor of industrial maintenance, repair, and operations products. Go deeper
• Raxio Group, a Netherlands-based data center firm, increased its funding pool to $380m after getting additional money from Meridiam and Roha Group. Go deeper
• Safety Management Group, a portfolio company of Gryphon Investors, acquired CrossSafety, a Canadian health, safety and environmental services provider. Go deeper
• Tavoron, backed by Fusion Capital Partners, acquired Fluidraulics, an automation component and system distributor. Go deeper
Liquidity
• Ferguson Enterprises (NYSE: FERG) agreed to acquire FloWorks International, a Houston-based critical flow control products company, for $1.6b in cash from Wynnchurch Capital. Clearlake Capital retains a stake. Go deeper
⚡️ Stryten Energy, an Atlas Holdings portfolio company, agreed to buy C&D Trojan, a stationary battery manufacturer backed by KPS Capital Partners. Go deeper
M&A
• First Hawaiian agreed to acquire TriCo Bancshares, a California bank, for $2b in stock. Go deeper
• Watches of Switzerland (LON:WOSG) has held talks to go private, per Reuters. Go deeper
Fundraising
• FIMI raised $1.75b for its eighth fund. Go deeper
• Warren Equity Partners Manager closed its fifth fund with $2.8b. Go deeper
It's Personnel
• Dextra Partners hired Tyler Donofrio as vice president. He was previously at Churchill Asset Management. Go deeper
• Robert Rizzo joined McDermott Will & Schulte as co-head of the firm's private equity group. He was previously at Weil. Go deeper
