Illustration: Tiffany Herring/Axios
Venture Capital
• Harvey, an SF-based legal AI platform, raised $550m at a $15.5b post-money valuation. Diffusion and Lightspeed led, joined by Sequoia Capital, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gill, Goldman Sachs, GIC, Evantic, Sapphire Ventures and Whale Rock. Go deeper
💊 TwoStep Therapeutics, a San Carlos, Calif.-based biotech developing multi-specific targeted therapies for solid tumors, raised a $62.5m Series A led by Insight Partners and Medical Excellence Capital. M Ventures and Pfizer Ventures joined. Go deeper
• ARC, a Philadelphia-based enterprise device management platform for frontline retail workers, raised $60m from Acadia Investment Partners. Go deeper
🚑 Implicity, a Cambridge, Mass.-based cardio remote monitoring company, secured a $40m funding round led by IRIS, alongside Five Arrows. Go deeper
• Wint, a NYC-based water management company, raised $36m in Series D funding co-led by LIP Ventures and Inven Capital. Go deeper
• Lattitude, a cross-border payments infrastructure startup, raised $35m in Series A funding. Oak HC/FT led, joined by NEA, Coinbase Ventures, Lightspeed Faction, OpenFX, and Wilson Sonini. Go deeper
• Cymphony, an NYC-based agentic security startup, raised $30m led by Sequoia Capital and SMBC Fin Atlas Beyond Fund. Go deeper
• Beep, a Lake Nona, Fla.-based autonomous mobility startup, raised $20m in Series B funding led by Mobileye. Go deeper
• Lightfield, an SF-based customer record AI agent company, raised $47m in Series A funding. A16z led, joined by Maverick Capital, Coatue, Audacious, Alumni Ventures, Greylock, and Lightspeed. Go deeper
• Carrum Mobility, an Indian fleet management startup, raised $10m in Series B funding from Uber. Go deeper
• Sparkle Grooming, a Scottsdale, Ariz.-based dog grooming franchise, raised $6m led by Companion Fund. Go deeper
⚡️MCatalysis, a Dallas-based waste-to-fuels developer, raised $5m in seed funding led by HL Energy and Oxford Science Enterprises. Go deeper
⚡️Niron Magnetics, a Minneapolis-based rare earth-free magnet maker, raised funding from Honda Motor. Go deeper
Private Equity
• American Equipment Solutions, a portfolio company of Rotunda Capital Partners, acquired BC Wire Rope & Rigging, an Anaheim, Calif.-based provider of wire rope, slings, chain, hoists, and rigging equipment. Go deeper
• Belle Brands, a Windsong Global portfolio company, is buying Vegamour, an LA-based hair longevity brand backed by General Atlantic Service and Plus Capital. Go deeper
• Bregal Sagemount invested in A-Rent Test Equipment, a provider of electrical test equipment rentals, calibration, and asset management services. Go deeper
• Dollar Shave Club, a razor company backed by Nexus Capital Management, is buying Truly Beauty, a Gen Z-focused body care company. Go deeper
🚑 Eir Partners acquired Accumulus Technologies, an SF-based provider of drug development regulatory SaaS. Go deeper
• H.I.G. Capital invested in Click Here Digital, a Baton Rouge, La.-based digital marketing agency. Go deeper
• Watkins, a flavor company backed by KDSA Investment Partners, is buying the spice business of Advent International portfolio company Sauer Brands. Go deeper
• New Water Capital acquired LidWorks, a Plant City, Fla.-based maker of food and beverage lids. Go deeper
Liquidity
• Analog Devices (Nasdaq: ADI) agreed to acquire Alif Semiconductor, a Pleasanton, Calif.-based provider of microcontrollers and fusion processors, for $1.35b in cash plus up to $200m in earnouts. Alif raised $342m in VC funding, most recently at a $1.1b valuation in 2025. Backers include Kleiner Perkins, Iconiq, Fidelity, Essentia Ventures, MicroVentures, and Mayfield. Go deeper
• Blackstone is exploring a sale of ZO Skin Health that could value it at $2b, per Reuters. Go deeper
• SecureSky, an Omaha, Neb.-based exposure management company, bought Soveren, a data protection startup that had raised $11m from firms like 10x Founders, DIG Ventures, and Semapa Next. Go deeper
M&A
• The DOJ is taking a closer look at Fox's proposed $22b acquisition of Roku. Go deeper
Fundraisings
🚑 Archimed raised €1.5b for its fourth smallcap fund. Archimed.group
• Apogem Capital closed its 11th fund with $597m. Go deeper
• Peterson Partners raised $510m for a single-asset VC for Kelso Industries, backed by NorthSands Capital. Go deeper
It's Personnel
• Tim Bottrell was named managing director at Raymond James. He was previously at Stifel. Go deeper
• Ariele Cohen joined Jones Day as a partner focused on private investment funds. She previously was with McDermott Will & Schulte. Go deeper
• Edie Connor joined Grant Avenue Capital as director of executive talent. She previously was with Oxeon. Go deeper
Odds & Ends
💊 Neurent Medical, an Irish chronic rhinitis treatment maker, secured a €25m debt financing from Claret Capital Partners. Go deeper
⚡Twelve, a Berkeley, Calif.-based sustainable aviation fuel startup, raised up to a $45m credit facility jointly led by Endurance Capital and Nomura to refinance and expand its facility in Moses Lake, Wash. Go deeper
