Illustration: Rebecca Zisser/Axios
Venture capital
• MarginEdge, an Arlington, Va.-based provider of restaurant management software, raised $80m in Series D equity and debt funding. Ten Coves Capital and Schooner Capital led the equity, joined by Derive Ventures and Osage Venture Partners. Go deeper
• Yuno, an SF-based payments infrastructure company, raised $45m in Series B funding. Global PayTech Ventures led, joined by Andreessen Horowitz, Tiger Global, QuantumLight Capital, Monashees and Kaszek. Go deeper
• ApartmentIQ, a Madison, Wis.-based market intelligence and revenue management platform for the multifamily industry, raised $25m from insider Susquehanna Growth Equity. Go deeper
• River Markets, a prime broker for prediction markets, raised $8.5m in seed funding led by Haun Ventures. Go deeper
• Entravel Group, a white-label travel platform with a stablecoin play, raised $7.5m. Ethereal Ventures and Finality Capital led, joined by GSR, Varrock, G1 Ventures, Seier Capital, Veris Ventures, Funfair Ventures, and WTG Ventures. Go deeper
• Fisent Technologies, a Canadian developer of AI process automation software for regulated enterprises, raised C$4.3m. Fintop led, joined by Pegasystems. 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
• Echovane, an SF-based market research platform, raised a $1m pre-seed round led by Titan Capital and Neon Fund. Go deeper
Private Equity
• Atlas Merchant Capital bought a minority stake in Edge Focus, a provider of underwriting and portfolio management software for consumer credit. Go deeper
• Blue Owl Capital acquired a minority stake in secondaries manager Hollyport Capital. Go deeper
• Chatham Financial received a strategic investment from GIC, Atairos, and Vikram Pandit, CEO of The Orogen Group. Go deeper
• Francisco Partners agreed to buy Moneris, a Canadian fintech joint venture between Royal Bank of Canada and Bank of Montreal, for C$2b. Go deeper
• Hightower Advisors agreed to acquire Valley Financial Group, an Ambler, Pa.-based wealth manager with around $275m in AUM. Go deeper
• Merit Financial Advisors, a Constellation Wealth Capital portfolio company, acquired The Bridgeway Group, a Pasadena, Calif.-based wealth manager with around $900m in client assets. Go deeper
• Vendavo, a fintech backed by Francisco Partners and Accel-KKR, acquired the high-tech business unit of Model N, a Vista Equity Partners portfolio company. Go deeper
Public Offerings
• Navi, an Indian fintech founded by Flipkart co-founder Sachin Bansal, is launching a domestic IPO that could raise around $314m, per Bloomberg. Backers include Prosus. Go deeper
• Robinhood Ventures Fund II began trading on the New York Stock Exchange yesterday. The fund raised roughly $200m in its IPO at $25 per share. Go deeper
Liquidity Events
• Athora, an Apollo-backed insurer, agreed to sell its German business to Frankfurter Leben. Go deeper
• ZPG, backed by Silver Lake, will sell Hometrack, which provides residential property valuation and risk data & analytics in the U.K. and Netherlands, to Providence Equity Partners. Go deeper
More M&A
• Candle Lake, an investment firm led by Kenneth Dart, ‌offered to buy Swedish online casino provider Evolution (STO: EVOG) for around $13.8b, although it's a mandatory offer that doesn't necessarily mean Candle Lake wants to acquire all the shares. 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
• Goldman Sachs agreed to acquire NEOS Investments, an ETF manager with $30b in assets, for up to $2.25b. Go deeper
• Nasdaq is buying Level Markets, an off-exchange equity execution venue. Go deeper
• Tabcorp (ASX: TAH) agreed to buy Australian betting tech provider BetMakers (ASX: BET) for A$267m. Go deeper
Fundraising
• Accel raised $3.5b in new funds, including a $1.35b global expansion fund, $800m for a U.S. fund, $800m for a Europe/Israel fund, and $550m for an India fund. Go deeper
• First Round Capital is raising $325m for its tenth flagship fund, per an SEC filing. firstround.com
• Layer Global, a new firm led by Anton Levy (ex-General Atlantic), held a $1.1b first close on its debut fund. Go deeper
• Team8 Capital, an Israeli VC firm, raised more than $365m in new funds, including $265m for its third flagship and more than $100m for a follow-on fund. Go deeper
It's Personnel
• Justin Wang (ex-OpenAI) and Calvin Zeng (Dandelion Capital) joined VC firm Paradigm as a research partner and investing partner, respectively. paradigm.xyz
• Marc Brown joined JPMorgan as a managing director, focused on North American venture coverage. He previously led EQT Growth Equity and, before that, spent two decades in corp dev at Microsoft. Go deeper
• Michael Keeley joined Orrick as global head of capital markets. He previously was with Kirkland & Ellis. Go deeper
• Steven Price, who was FINRA's SVP of market investigations, is joining fintech Finalis as chief compliance officer. 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
