Why are venture firms that have historically focused on early-stage, private companies interested in public market investing? Amish Jani explains.
October 14, 2020
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U.S. & Canada
Macquarie Eyes FitTech Revolution as New Players Step Out
Macquarie analyst Paul Golding and team think the FitTech revolution during the pandemic will continue with rapid advances seen leading to more market share grabs. Read more on Seekingalpha.com
Image: Piotr Swat/ Shutterstock.com
Long Ridge Equity Partners Closes Fund III, at $445M
Long Ridge Equity Partners, a NYC-based sector-focused private equity firm, closed Long Ridge Equity Partners III, at $445m. It included $400m of Limited Partner commitments plus an additional $45m of commitments from the General Partner and members of the firm’s Industry Advisor Network. Read more on Finsmes.com
Image: ra2 studio/ Shutterstock.com
Q3 Mobile Games Downloads Gong at 1B Weekly; Consumer Spending On The Rise
Stay-at-home rules by the government led to a speeding rise in mobile downloads; Q2 mobile games across platforms settled around a billion. Q3 is seen trending at similar levels with past three months revenue of ~$20B (+15% Y/Y) with another billion downloads weekly, as per App Annie data. Read more on Seekingalpha.com
Walt Disney Restructures Entertainment Businesses to Boost Streaming
Following a strong second quarter in global funding, the third quarter of 2020 has held up with $76.4 billion in venture funding worldwide—up 1 percent quarter over quarter and 9 percent year over year. Read more on Reuters.com
Image: AFM Visuals / Shutterstock.com
BLCK VC Launches Education Initiative to Bring More Black Entrepreneurs Into Investing
BLCK VC along with partners Operator Collective, Salesforce Ventures and Berkeley Haas School of Business are hoping to change that, and today the group announced the Black Venture Institute, an educational initiative dedicated to helping Black operators become angel investors. Read more on Techcrunch.com Image:SFIO CRACHO / Shutterstock.com
Ureeka Taps Kevin O'Leary to Launch SMB Curriculum
Ureeka, a SMB mentorship platform for next-wave entrepreneurs, has today announced the Kevin O’Leary Bootcamp, which will offer members access to an exclusive curriculum of his knowledge and advice. Read more on Techcrunch.com Image: jack_the_sparrow / Shutterstock.com
U.S. Funding & Capital Raising Round Up
Hayden AI Technologies, Inc., a San Francisco, CA-based urban mobility company, raised $5m in funding. The round was led by Autotech Ventures, with participation from BootstrapLabs, Tsingyuan Ventures, and other investors. Finsmes.com
JAXJOX, a Redmond, Washington-based global fitness technology company, raised $10M in Series A funding. Backers in the round, which brought total funding raised to date $17M, included Dowgate Capital Ltd. and entrepreneur Nigel Wray. Finsmes.com
Alkira, Inc., a San Jose, CA-based Network Cloud company, closed a $54M Series B funding. The round was led by Koch Disruptive Technologies (KDT) with participation from Sequoia Capital, Kleiner Perkins, GV (formerly Google Ventures), and others. Finsmes.com
Clearwater Analytics, a Boise, Idaho-based SaaS provider of investment accounting and analytics solutions, received an investment of undisclosed amount. Backers included Permira, Warburg Pincus, Dragoneer Investment Group and Durable Capital. Finsmes.com
Kasa Living, Inc., a San Francisco, CA-based provider of technology-powered flexible accommodations nationwide, raised $50m in funding. The capital includes $30m in new Series B funding led by Ribbit Capital and $20m in Series A funding led by FirstMark Capital less than a year ago. Finsmes.com
Advanced NanoTherapies, a privately-held medical device company, announced it closed on the final tranche of its seed-round for a total of $5.3 million. Funding came from a variety of angel investors, including venture funding from Cleveland Clinic and ForMed Ventures of Taiwan. VCNewsdaily.com
Lassogen, a San Diego, CA-based company dedicated to developing lasso peptides as an entirely new therapeutic modality, raised $4.5m in seed funding. The round was led by Playground Global. Finsmes.com
Accurics, a company providing what it describes as “self-healing” infrastructure for cloud environments, has raised $20 million, from ClearSky and Intel Capital. Venturebeat.com
Long Ridge Equity Partners, a NYC-based sector-focused private equity firm, closed Long Ridge Equity Partners III, at $445m. Fund III will target majority and significant minority investments in high-growth financial and business technology companies led by exceptional management teams. Finsmes.com
Urban Umbrella, a New York City based innovative scaffolding design company, raised $9m in Series B funding, consisting of $7m of equity and $2m of debt. Backers included NYC based strategic real estate developers and building owners. Finsmes.com
ScriptDrop Inc., a Columbus, OH-based provider of a medication access healthcare IT solution, raised an additional $15m in Series A funding round, led by Ohio Innovation Fund, with participation from North Coast Ventures, M25 and Rev1Ventures. Finsmes.com
Rise Gardens, maker of in-home, smart hydroponic garden systems, announced it has received an investment from the Amazon Alexa Fund.. VCNewsdaily.com
Findem, a San Francisco, CA-based People Intelligence platform provider, closed a $7.3m Series A funding. The round was led by Wing Venture Capital. Finsmes.com
Matroid, the leading U.S. computer vision (CV) provider and a world leader in machine learning, has raised $20 million in Series B funding. The round was led by Energize Ventures. VCNewsdaily.com
Grata, a NYC-based search engine for discovering small to middle market private companies, secured $3.2m in seed funding. The round was led by Bling Capital. Finsmes.com
Genemod, a Seattle, WA-based software solution for life scientists that uses data automation to streamline and accelerate research, raised $1.7M in seed funding. The round was led by Defy.vc. Finsmes.com
Urban Umbrella, a New York City based innovative scaffolding design company, raised $9m in Series B funding, consisting of $7m of equity and $2m of debt. Backers included NYC based strategic real estate developers and building owners. Finsmes.com
Menlo Microsystems brought in $44 million in Series B funding to make electronic switches smarter. The new round of funding was led by 40 North Ventures, alongside Piva, Paladin Capital Group, Vertical Venture Partners and Future Shape. Crunchbase.com
Vineti, Inc., the leading digital platform of record for personalized therapeutics, today announced the closing of a $33 million extension to its Series C financing. he Series C extension is led by Cardinal Health. VCAOnline.com
Cyberpion, a Kirkland, Wash. and Tel Aviv, Israel-based ecosystem security company, emerged from stealth after closing an $8.25m seed funding. The round was co-led by Team8 Capital and Hyperwise Ventures. Finsmes.com
U.S. & Canada
Deals of the Day: M&A and Strategic Investments
HealthStream(Nasdaq: HSTM), a Nashville, Tenn.-based , acquired ShiftWizard, Inc., a Raleigh, North Carolina-based company focused on providing a SaaS-based solution that integrates key workforce management capabilities. Finsmes.com
Direct primary care provider Paladina Health announced on Monday that it will acquire Healthstat, a provider for employer-sponsored health centers. Financial terms of the acquisition were not disclosed. Healthleadersmedia.com
New Heritage Capital, a Boston-based private equity firm, is pleased to announce a new investment in Massachusetts-based Carnegie Dartlet (the “Company”), a leading provider of strategic marketing solutions specializing in the higher education market. VCAonline.com
ConocoPhillipsCOP.N , the U.S. oil producer, is in talks to acquire shale producer Concho Resources Inc CXO.N, Bloomberg News reported on Tuesday, citing people familiar with the matter. Nasdaq.com
Vungle, has acquired mobile ad marketing intelligence firm AlgoLift for an undisclosed price. Venturebeat.com
Why are VCs Launching SPACs? Amish Jani of FirstMark Explains
With every passing week, more venture firms are beginning to announce SPACs. Why are venture firms that have historically focused on early-stage, privately held companies interested in public market investing, Read more onTechcrunch.com Image: iQoncept / Shutterstock.com
SPAC ACTIVITY
E2open LLC, a U.S. supply chain management software firm is nearing a deal to go public through a merger with blank-check acquisition company CC Neuberger Principal Holdings I at a valuation of more than $2.5 billion, incl debt. Reuters.com
Consumer-lending platform and Blackstone Group Inc. BX 0.71% portfolio company Finance of America Equity Capital LLC is set to go public with a valuation of $1.9 billion through a blank-check merger. WSJ.com
U.S. learning companies Global Knowledge Training LLC and Skillsoft Ltd. are in talks to merge and simultaneously go public, according to Bloomberg. Ibleducation.com
Decarbonization Plus Acquisition, a third blank check company formed by Riverstone targeting businesses advancing global decarbonization, plans to raise $200 million by offering 20 million units at a price of $10. Nasdaq.com
Cyndx International News
$5 Trillion Investor Group Sets Tougher Portfolio Carbon Targets
Thirty of the world’s largest investors managing a combined $5 trillion (3.8 trillion pounds) said on Tuesday they plan to set targets to lower their portfolio carbon emissions by as much as 29% over the next five years. Read more on Reuters.com
Image: lurii Motov / Shutterstock.com
Numan, an Online Health Clinic for Men, Raises £10 million Series A Round
Numan, the London-based startup building an online health clinic for men, has completed a £10 million Series A funding round led by Novator, joined by Anthemis Exponential, Vostok New Ventures and Colle Capital. Read more on Tech.eu
Image: ilikestudio / Shutterstock.com
Astroscale Raises $51 million in Series E, $191 Million Overall
Astroscale Holdings Inc. raised $51 million in a Series E investment round, bringing total funding for the Tokyo-based orbital debris removal startup to $191 million. Astroscale is now “the most funded on-orbit services and logistics company globally and most funded space venture in Japan”. Read more on Spacenews.com Image:sdecoret / Shutterstock.com
Levine Leichtman Capital Partners Closes Second Europe Fund, at €463M
Globale middle-market private equity firm Levine Leichtman Capital Partners closed its second fund, at €463m. Levine Leichtman Capital Partners Europe II SCSp (Europe II) received support from a group of institutional investors, including pension funds, insurance companies, banks, family offices and foundations. Read more on Finsmes.com
Image: Photon Photo / Shutterstock.com
UK Unemployment Rate Jumps to 4.5%; IMF Warns of Polarised Labour Markets
Despite raising its 2020 growth forecasts, the IMF is deeply worried about the damage caused by Covid-19.The Fund’s chief economist, Gita Gopinath, writes that the global economy faces a “long, uneven and uncertain ascent. Read more onTheguardian.com
Image: Maxx-Studio / Shutterstock.com
Singapore’s Temasek Launches $55 Billion Asset Management Group
Singapore state investor Temasek Holdings has launched a new asset management group called Seviora Holdings that will have combined assets under management of approximately S$75 billion ($55.14 billion). Read more on Ai-cio.com
Image :Ascianno / Shutterstock.com
Bengaluru Startup Builds AI Tool to Screen Oral Cancer
Atom360, which has collaborated with AIIMS Delhi and Bhubaneswar, has created an app, Berry Care, to detect suspicious lesions in the mouth, which could indicate oral cancer. Nearly one million people die of oral cancer in India every year. Read more onLivemint.com
Image: ibreakstock / Shutterstock.com
Europe & Asia Funds & Capital Raising Round Up
BitNinja, a Debrecen, Hungary-based website server protection solution provider, raised $2.5m in Series A funding. The round was led by Lead Ventures. Finsmes.com
Navina, a Tel Aviv, Israel-based developer of an AI-driven platform for primary care, raised $7m in seed funding, led by Grove Ventures. Finsmes.com
MOV.AI, a Lisbon, Portugal-based provider of an enterprise-grade ROS development & run time environment for cobots (collaborative robots), closed a $4m financing round, bringing the total capital raised to $8m. The round was led by SOMV and existing investors NFX, and Viola Ventures. Finsmes.com
Nuvemshop, a Latin American commerce platform, raised $30 million in Series C funding to help small and medium-sized businesses develop and promote their own online presence. The round was co-led by Qualcomm Ventures and Kaszek Ventures. Crunchbase.com
Wolt, a Helsinki, Finland-based food delivery platform provider, received a €7.5m investment from Lukasz Gadowski, a serial entrepreneur and co-founder of Delivery Hero. Finsmes.com
Nym Health, a Tel Aviv, Israel-based autonomous medical coding technology provider, raised $16.5m in Series A funding. The round was led by GV (formerly Google Ventures). Finsmes.com
BlackSwan Technologies, a Tel Aviv, Israel-based provider of an enterprise AI operating system, raised $28m in Series A funding. The round was led by Prytek, FinTLV and MS&AD Ventures. Finsmes.com
Stotles, a London-based B2G startup that gives sales and marketing teams the insights and tools they need to get ahead in the public sector, has raised €1.5 million in a funding round led by Speedinvest.Eu-startups.com
Mediatool, Stockholm-based startup that offers media management software for omnichannel marketers, received €2.5 million in a round led by Newion, , together with J12 Ventures, Almi Invest and Twig. Eu-startups.com
BotGuard, a unique cloud-based service, is on a mission to revolutionize the field of cyber security, and has just landed €500K to do so, led by Estonia’s leading venture capital company, Tera Ventures.Eu-startups.com
Europe & Asia
Deals of the Day: M&A and Strategic Investments
Siemens is in talks with Triton and other buyout groups to sell its €1.5-2 billion ($1.8-$2.4 bln) transmissions maker Flender, as part of the industrial conglomerate’s plans to streamline its operations. Reuters.com
Investment funds Blackstone, Macquarie and F2i could team up with state lender CDP to make a joint bid for the stake of Italy’s Atlantia in its motorway unit Autostrade per l’Italia. Reuters.com
Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion). Reuters.com
Italy’s Serie A soccer clubs have agreed to enter exclusive talks with a private equity fund consortium led byCVC for the sale of a stake in the league’s media business. Reuters.com
Biffa, a Waste management company has announced the acquisition of Simply Waste Solutions in a deal worth £35 million. It has bought 100% of the share capital of Camo Ltd, which trades under the Simply Waste brand. Energylivenews.com
Flatio, a mid-term rental platform aimed at professionals and students, today announced it has merged with Lisbon-based NomadX, an affordable digital nomad housing marketplace. Eu-startups.com
Making the News
BC Partners has raised around half the target amount for its next flagship private equity fund, for which it is seeking a record 8.5 billion euros ($10 billion). Bloomberg.com
Apoorva Shah, Nomura’s co-head of mergers and acquisitions (M&A), Asia, excluding Japan, has left the Japanese investment bank following a recent leadership rejig. Reuters.com
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