Illustration: Gabriella Turrisi/Axios
Venture Capital
• Safe Superintelligence, the AI startup founded by Ilya Sutskever, raised $2b at a $32b valuation, per the FT. Go deeper
• Conifer, developer of a "drop-in" electric hub motor, raised $20m from True Ventures, MaC Ventures, and MFV Partners. Go deeper
• Ryl Co., a Morristown, N.J.-based beverage maker, raised $15m in Series B funding from Feuerstein, Wallen, Get Engaged Media's Cam Fordham, Alex Dermer, and Ben Hiott. Go deeper
• Frontline.io, a Miami-based no-code platform for industrial training, raised $10m in Series A funding co-led by FIT Ventures and Click Bond. Go deeper
• Midnite, a U.K. online sportsbook and casino, raised £7.7m in Series B funding from Discerning Capital, Raine Group, Play Ventures, Venrex, and Big Bets. Go deeper
🚑 Doctronic, a NYC-based health assistant, raised $5m in seed funding from USV and Tusk Ventures. doctronic.ai
Private Equity
🚑 New Mountain Capital acquired a control stake in SmarterDx, a New York-based health care RCM provider. smarterdx.com
M&A
• Inveniam Capital Partners, backed by Nyca and G42, acquired Hedgehog, a London-based digital platform for real-world investments. Go deeper
• Paychex (Nasdaq: PAYX) completed its $4.1b purchase of payroll and HR software firm Paycor HCM. Go deeper
• StoneX (Nasdaq: SNEX) agreed to acquire U.S. futures brokerage R.J. O'Brien for $900m. Go deeper
Public Listings
• Azadea Group, the operator of Zara and Virgin Megastore chains in the Middle East, paused IPO plans, per Bloomberg. Go deeper
• Timber Road Acquisition, a property and consumer SPAC led by Patrick Fisher (Timber Road Capital), filed for a $200m IPO. Go deeper
Fundraising
• Manulife Investment Management raised $660m for its third PE fund. manulifeim.com
• Lock 8 Partners raised $182m for its third lower midmarket buyout fund. Go deeper
It's Personnel
• Michael Reed, former director of whip ops and member services for Rep. Katherine Clark (D-Mass.), joined a16z as a government affairs partner. Go deeper
• Stephen Rodriguez, founder of One Defense, joined DCVC as an operating partner focused on defense tech. Go deeper
• Yuri Sagalov is joining General Catalyst as a managing director who will lead seed investing. He previously founded Wayfinder Ventures. Go deeper
• Andrea Wang is joining SV Angel as a general partner from General Catalyst. Go deeper
- Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Dan Primack, and Aaron Weitzman contributed to this report.
