Illustration: Brendan Lynch/Axios
Venture Capital
• Neo, a Boston-based agentic security company, raised $100m in seed and Series A funding. Andreessen Horowitz, Bessemer Venture Partners, Craft Ventures and Merlin Ventures all joined. Go deeper
• Raghu Vamsi Aerospace Group, an Indian aerospace and defense manufacturing company, raised a $40m round. Norwest and Skegen Asset Management led, joined by Indus Bridge Ventures and GJNX Ventures. Go deeper
• Veriqus Group, an Indian wealth tech firm, raised about $40m in funding led by Norwest Venture Partners. Go deeper
• Neo Group, an Indian wealth and asset management firm, raised about $36.3m in funding led by Peak XV Partners. Go deeper
• Twenty, an Arlington, Va.-based cyber warfare startup, raised $30m from Khosla Ventures at a $1.2b valuation. Go deeper
• Natural, an SF-based payments agents company, raised a $30m Series A round led by Forerunner. Go deeper
• Infinity, an SF-based inference startup, raised a $15m round at a $100m valuation from Touring Capital and Principal VC. Go deeper
🚑 Plazza, an Indian delivery service for medications and health care products, raised $15 million in a Series A funding round. Go deeper
• NxLite, a Canton Township, Mich.-based manufacturer of energy-efficient glass coatings, raised $13.1m in Series A funding. Crabtree Lane Alt led, joined by VoLo Earth Ventures, Earth Foundry, MUUS, New Climate Ventures and ACT Venture Partners. Go deeper
• Reo.Dev, an SF-based AI-native go-to-market platform, raised $11.3m in Series A funding. Elevation Capital led, joined by Heavybit, India Quotient, Foster Ventures and Uncorrelated Ventures. Go deeper
• Self Inspection, a San Diego vehicle inspection startup, raised a $10m round. Sandberg Bernthal Venture Partners led, joined by U.S. AutoForce, Westlake Financial, Costanoa Ventures, Rebellion Ventures, BrightCap Ventures and DVx Ventures. Go deeper
• Piq, an SF-based agentic grid-planning platform, raised $5m in seed funding. Active Impact Investments led, joined by Cisco Foundation, Mobilize AI x Energy Ventures, New Climate Ventures, Ascent Energy Ventures, Umami Capital, CLAI Ventures and 9Zero. Go deeper
Private Equity
• Assisi Pet Care, backed by Wind Point, acquired Forthglade, a U.K.-based pet food and treats company, from IK Partners. Go deeper
• Bain Capital agreed to acquire SupplyOn, a London-based supply chain collaboration platform. Go deeper
• Brightstar Capital Partners acquired BrightTree Studios, a Warrendale, Pa.-based tech design and consulting firm. Go deeper
• Brookfield Asset Management and Canada Pension Plan Investment Board agreed to acquire NY-based REIT LXP Industrial Trust for $5.2b in cash. Go deeper
• Examinetics, backed by Coalesce Capital, acquired Progressive Safety, an Olathe, Kansas-based on-site safety provider, and Jurgiel & Associates, a St. Charles, Mo.-based industrial hygiene and safety consulting company. Go deeper
• Greenbelt Capital Management made a majority investment in Bowe & Gant Electrical Services, a provider of essential, nondiscretionary electrical and energy infrastructure services. Go deeper
• Pelican Energy Partners acquired Riggins Company, a Hampton, Va.-based metal fabrication and custom components maker. Go deeper
• Pepper Advantage, backed by J.C. Flowers & Co., acquired Dilosk DAC, an Irish residential mortgage origination and servicing platform. Go deeper
• Pine Services Group, backed by Evergreen, acquired Datel, a U.K.-based Sage software implementation advisory. Go deeper
• SuanNutra, backed by Carbyne Equity Partners, agreed to acquire IFF's (NYSE: IFF) botanical extracts, vitamins and minerals, and food enhancement portfolio. Go deeper
• Truelink Capital acquired Lyons Magnus, a Fresno, Calif.-based flavored ingredients and beverages company, from Paine Schwartz for a reported $1b valuation. Go deeper
Liquidity
• Karman Space & Defense (NYSE: KRMN) agreed to acquire Walker Precision Engineering, a Scottish aerospace and defense engineering firm backed by BGF, for $94m. Go deeper
• Magnolia Oil & Gas (NYSE: MGY) agreed to buy WildFire Energy, backed by Warburg Pincus and Kayne Anderson, for about $4.1b. Go deeper
• Vertiv Holdings (NYSE: VRT) acquired Strategic Thermal Labs, a Georgetown, Texas-based liquid cooling technology company backed by Carrier Ventures and Cowtown Angels. Go deeper
M&A
• Amrize (NYSE: AMRZ), a Chicago-based building solutions company, agreed to acquire Rapid Redi-Mix, a Boyd, Texas-based concrete producer. Go deeper
💊 Tempus AI (Nasdaq: TEM) agreed to buy Personalis (Nasdaq: PSNL), a Fremont, Calif.-based cancer genomics company, for $1.7b. Go deeper
IPO
• Reformation, a Vernon, Calif.-based women's clothing brand backed by Permira, is targeting a valuation of up to $1b in its IPO, per its updated S-1. Go deeper
Fundraising
• Capitol Meridian Partners raised $1.9b for its second fund. capitolmeridian.com
• Partners Group closed its fourth direct infrastructure investment fund with over $15b. Go deeper
It's Personnel
• Brian Michaud was promoted to managing partner at Littlejohn & Co. Go deeper
