Illustration: Sarah Grillo/Axios
Venture Capital
• River AI, an open-source AI startup led by xAI co-founder Igor Babuschkin, raised $1.1b led by General Catalyst and AMP PBC, with Nvidia, AMD Ventures, YC, and Temasek participating. Go deeper
• Finn, a German car subscription provider, raised €140m in Series D equity and debt funding at a $1b+ post-money valuation. Portage led the equity, joined by UVC Partners, Planet First Partners, and Korelya Capital. Debt came from BC Partners Credit and Runway Growth Capital. Go deeper
• ApartmentIQ, a Madison, Wis.-based multifamily real estate market intelligence platform, raised $25m from insider Susquehanna Growth Equity. Go deeper
• Noosphere Labs, a physical AI startup, raised $10.25m. Trilogy Equity Partners led, joined by Madrona. Go deeper
• River Markets, a prime broker for prediction markets, raised $8.5m in seed funding led by Haun Ventures. Go deeper
• Fisent Technologies, a Canadian developer of AI process automation software for regulated enterprises, raised C$6m. Fintop led, joined by Pegasystems. Go deeper
• Soctera, an NYC-based maker of wireless signal amplifiers, raised $4m in seed funding from Anorak Ventures, Multiball Capital, 9Yards Capital, Mana Ventures, and Red Bear Ventures. Go deeper
• FriskAI, an LA-based runtime intelligence platform, raised a $3.6m pre-seed round. MaC Venture Capital led, joined by Wischoff Ventures. Go deeper
• Zerolook, a Swiss B2B flight-shopping API, raised €1.6m in pre-seed funding. Playfair led, joined by Vento Ventures, TrueSight Ventures, and Alpha Venture. Go deeper
🚑 Ayati Devices, an Indian developer of diagnostic devices, raised $1.5m in seed funding led by Inflexor Ventures. Go deeper
Private Equity
• Airo, an HVAC and plumbing installation services provider backed by CCMP Growth, acquired Legrande's Enterprises, a specialty plumbing and HVAC firm. Go deeper
• Baymark Partners bought Meal Prep Sunday, a Vista, Calif.-based meal prep and delivery service. Go deeper
• Blue Owl Capital acquired a minority stake in secondaries manager Hollyport Capital. hollyportcapital.com
• Clarendon Capital acquired Elkridge, Md.-based O'Donnell Metal Deck & Bar Joist, in partnership with Ironwood Capital. Go deeper
• Hightower Advisors agreed to acquire Valley Financial Group, an Ambler, Pa.-based wealth manager with around $275m in AUM. Go deeper
• Integrated Water Services, an Austin, Texas-based wastewater platform backed by Sciens Water, acquired Advanced Equipment and Services. Go deeper
• New Heritage Capital invested in PowerRail, an Exeter, Pa.-based aftermarket locomotive parts maker. Go deeper
🚑 Sarnova, a Patricia Industries portfolio company, acquired Mercury Medical, a Clearwater, Fla.-based maker of critical care and emergency medical devices. Go deeper
M&A
• ACV Auctions (NYSE: ACVA), an online car marketplace with a nearly $1.3b market cap, is exploring a sale, per Bloomberg. https://axios.link/4z3lwsm
• Curaleaf (TSX: CURA) is prepping a C$272m hostile takeover bid for rival Aurora Cannabis (TSX: ACB). Go deeper
• eToro (Nasdaq: ETOR) agreed to acquire TradeZero, a U.S.-focused online brokerage serving active traders, for up to $231m in cash and stock. Go deeper
It's Personnel
• Michael Keeley joined law firm Orrick as global head of capital markets. He previously was with Kirkland & Ellis. Go deeper
• Eliza Oshana McGrath joined Tayeh Capital Group as head of IR and capital formation. She previously was with Northern Trust Asset Management. Go deeper
