Illustration: Aïda Amer/Axios
Venture Capital
• Nominal, an Austin, Texas-based manufacturing software developer, raised a $240m Series C at a $3b valuation. Lightspeed Venture Partners and Insight Partners led, joined by Lux Capital, Sequoia, General Catalyst, Founders Fund, Avenir, Salesforce Ventures, M13, Lockheed Martin Ventures, Red Glass Ventures, PSP Growth, and Deployment Capital. Go deeper
🚑 Laza Medical, a Campbell, Calif.-based AI cardiac imaging platform, raised $160m in Series B funding. GE HealthCare Technologies led, joined by Unorthodox Ventures, PA MedTech, and AMED. Go deeper
• Mavria, a Houston-based modular data center developer, raised $130m across pre-seed and seed rounds. Paradigm led, joined by AMP PBC, Liquid 2, Critical Frontier, and Dream Ventures. Go deeper
💊 Delix Therapeutics, a Bedford, Mass.-based psychedelic pharma company, raised $100m in Series C funding led by Johnson & Johnson. It had previously announced $85m of the round. Go deeper
• Spines, a hybrid publisher, raised $29m in Series A-1 funding. Zeev Ventures led, joined by Aleph, NordStar, M-Fund, LionTree, and Dan Senor. Go deeper
• Coframe, an SF-based website development startup, raised $25m in Series A funding led by Khosla Ventures and Hanabi Capital. Go deeper
• Blackletter, an AI-native law firm, raised a $6m seed led by Lerer Hippeau and joined by Seven Stars, Maple VC, Garage Capital, and Ripple Ventures. Go deeper
• Astral, an SF-based personalized education startup, raised $5.5m. MapleVC led, joined by Stand Together Ventures Lab, Conversion Capital, and Original Capital. Go deeper
• Vessel, an NYC-based inventory software developer, raised a $5m seed round. HG Ventures led, joined by Flex Capital, Ford Street Ventures, and I2BF Global Ventures. Go deeper
Private Equity
• Altamont Capital Partners invested in CESO, a Dayton, Ohio-based provider of architecture and engineering services. Go deeper
• Gladstone acquired a majority stake in McFarlane Toys, with Todd McFarlane and Stephen Tetrault retaining minority stakes. Go deeper
🚑 G&H, an Arlington Capital Partners portfolio company, acquired IntraAction, a Bellwood, Ill.-based maker of acousto-optic devices and associated RF drivers. Go deeper
• LLCP acquired Five Star Franchising, a Springville, Utah-based franchisor of home services brands, from Princeton Equity Group. fivestarfranchising.com
• Marlin Equity Partners invested in Insight Assurance, a Tampa, Fla.-based provider of independent cybersecurity audit and compliance services. Go deeper
• Net at Work, backed by LMP, acquired K&R Consulting Group, an ERP and business advisory services company. Go deeper
⚡️ NRG Energy (NYSE: NRG) agreed to sell six natural gas-fired power plants to LS Power for $4b in cash. Go deeper
• PSP Investments agreed to acquire a 50% interest in Enercare, a Canadian HVAC services company backed by Brookfield, for C$1.6b. Go deeper
Liquidity
🚑 Charles River Labs (NYSE: CRL) is backing a $616m take-private buyout of Frontage, a Hong Kong-listed pharmaceutical testing company. Go deeper
• Morgan Stanley agreed to acquire Vinyl Equity, a Winnetka, Ill.-based transfer agent that had raised around $31m from Jump Capital, Index Ventures, and MUFG Innovation Partners. Go deeper
• Vanta, an SF-based enterprise compliance management startup last valued at $4.2b, acquired Israeli AI security company Pillar Security for a reported $150m. Pillar had raised $9m from Shield Capital, Golden Ventures and Ground Up Ventures. Go deeper
M&A
• Bailey Equipment & Intralogistics, a Nashville, Tenn.-based material handling and intralogistics provider, bought Renton, Wash.-based Northwest Forklift. Go deeper
• Entegris (Nasdaq: ENTG) acquired Advanced Abrasives, a Pennsauken, N.J.-based maker of industrial abrasives. Go deeper
🚑 XRHealth, a Needham, Mass.-based therapeutic platform, acquired virtual addiction treatment provider PursueCare. Go deeper
Public Listings
💊 Windward Bio Group, a Swiss developer of antibodies for respiratory and dermatologic diseases, set IPO terms at 10.3m shares for $16-18. It would have a $1b fully diluted value at the midpoint, and plans to list on the Nasdaq (WWB). The Phase 2/3 biotech has raised $365m from OrbiMed, Novo Holdings, Blue Owl, SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital, Pivotal bioVenture Partners, RA Capital Management, Janus Henderson Investors, Sanofi Ventures, and Harbour BioMed. Go deeper
It's Personnel
• Darren Schluter joined Goldman Sachs as a managing director focused on PE secondaries. He previously was with PJT Park Hill. Go deeper
• Greg Wappett joined Zyneth Partners as an operating partner. He previously was chief development officer of 42 North Dental. Go deeper
