EY examined how potential changes by the new administration may affect business leaders' capital allocation, M&A, investments and growth strategies.
November 13, 2020
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U.S. & Canada
Biden-Harris Impact on M&A: Transactions Now, JVs Later, Finds EY Survey
EY’s survey examined how potential changes in corporate taxes, economic stimulus, infrastructure, onshoring regulations and sustainability, will affect U.S. business leaders’ capital allocation, M&A, investments, and overall growth strategies. Read more on Uk.reuters.com Image: Nicoleta Ionescu / Shutterstock.com
Goldman Sachs in Talks to Acquire Trading Technologies
Goldman Sachs is reportedly in advance talks for a $500 million takeover of Trading Technologies, a Chicago-based trading and data analytics software firm. Read more on Finextra
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PayPal Will Now Let All Users in the US Buy and Sell Crypto
PayPal will now let all users in the US buy, sell, and hold cryptocurrencies right from their PayPal account. The news came in an update to a press release from last month announcing that the new functionality was on the way. Read more on The Verge Image: grejak / Shutterstock.com
Cano Health to List via $4.4B Merger with Barry Sternlicht-Backed SPAC
Healthcare provider Cano Health LLC will be taken public via a merger with a blank-check company backed by real estate investor Barry Sternlicht, in a deal worth $4.4 billion deal, including debt, the companies said on Thursday. Read more on Reuters.com
Image: iQoncept / Shutterstock.com
Airbnb Pushes IPO Date
Airbnb’s initial public offering has reportedly become the first company to be officially impacted by the U.S. post-election’s uncertainty just one day before it was set to be filed. Read more onPymnts.com
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Cyndx Custom Comps Identifies the Right Comparable Sets For Your Deals
In seconds, you can now establish a framework for private company valuations, based on public company trading metrics. Edit and add comps on the fly with real-time recalculations. See it now on Cyndx
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U.S. Capital Raising and M&A Highlights
Adaptilens, a Boston, MA-based company that develops accommodating intraocular lens, raised $1.6m in seed funding led by Pillar VC. Finsmes
Alice Technologies, an AI-powered construction simulation platform, raised $4.6m in convertible debt financing led by Future Venture. Finsmes
AlphaFlow, the leading institutional platform for investing online in real estate debt, today announced a $10 million Series A funding round led by Saluda Grade Ventures. VCnewsdaily
Better Tomorrow Ventures, closed its debut fund with $75 million in capital commitments, exceeding their original $60 million target. Techcrunch
Bond Vet, a New York-based animal health company, raised $17M in Series A funding led Talisman Capital Partners. Finsmes
Bridge Medicines, a NYC-based drug discovery company, raised additional funding of $10m. Finsmes
Cano Health LLC will be taken public through a merger with a blank-check company backed by real estate investor Barry Sternlicht, in a deal worth $4.4 billion deal, including debt, the companies said on Thursday. Reuters
Getaround, a San Francisco-based car sharing provider, received a $25m venture loan facility from Horizon Technology Finance Corporation. Finsmes
GuideCX, a Salt Lake City, UT-based platform for onboarding new customers, raised $10m in Series A funding led by Sorenson Ventures. Finsmes
FinPay Holdings, Inc., a patient financial management solution, announced its $5m Series C financing round led by Montreux Growth Partners. VCAonline
Kate Farms, a Santa Barbara, Calif.-based company that brings plant-based nutrition into healthcare, closed a $51m Series B round of funding led by Goldman Sachs. Finsmes
Menlo Security, the Secure Web Gateway provider, completed its Series E round and notched a valuation of $800 million led by Vista Equity Partners. CRN
Microvast, a maker of electric batteries, is in advanced talks to go public through a merger with the blank-check company Tuscan Holdings Corp., according to people with knowledge of the matter. Bloomberg
Nana, runs a free academy teaching people how to fix appliances and join its marketplace, raised a $6 million seed round led by Spero Ventures. Techcrunch
OthersideAI, a provider of an AI prowered email inbox productivity solution, raised $2.6m in seed funding led by Madrona Venture Group. Techcrunch
Pharmapacks, a U.S. e-commerce firm focused on health, personal care and beauty products, announced an investment of more than $250m from private equity firm Carlyle Group Inc. Reuters
Solv Health, a startup that sells health care providers digital tools to manage patients, has raised $27 million in new funding led by Acrew Capital. Axios
Springtide, a practice treating children with autism spectrum disorder, announced it completed a $18.1 million Series A round of equity financing led by Deerfield Management Company and Optum Ventures. Yahoo!Finance
Statespace, the training platform for gamers, announced the close of a $29 million Series B financing led by Khosla Ventures. Techcrunch
Thoughtexchange, a Vancouver, CA-based advanced platform for scaling conversations, received an investment from HarbourVest Partners to complete its Series B $34m round. Finsmes
Truebill, a startup offering tools to help users take control of their finances, announced it has raised $17 million in Series C funding led by Bessemer Venture Partners. Techcrunch
TrueCommerce, a global provider of trading partner connectivity and integration solutions, is to be acquired by Welsh, Carson, Anderson & Stowe, a technology-focused private equity firm. Propertyfundsworld
X-COR Therapeutics, an Allston, MA-based developer of an extracorporeal carbon dioxide removal device, closed a $2.6M seed financing. Alira Health’s investment arm, Alira Health Ventures, led the financing. Finsmes
International News
Early Stage VC Funds Have The Potential to Out-Perform
Latest market analysis from the British Business Bank finds early stage venture capital funds have the potential to generate higher returns than later stage VC funds. Read more on Fintechf Image: Natasha Azdic / Shutterstock.com
Amazon Partners with Barclaycard Germany to Launch Purchase Financing through Amazon.de
Barclaycard Germany is announcing a new partnership with Amazon to offer financing for purchases made through Amazon.de above EUR 100. Amazon customers can choose to pay for their purchases in installments. Read more on Fintechf Image: Dennizn / Shutterstock.com
EQT is Said to Approach $13 Billion Carrier KPN on Takeover
EQT AB has approached Dutch phone company Royal KPN NV about a takeover, a sign the European private equity firm is moving ahead with a deal that would rank as its largest ever, people with knowledge of the matter said. Find out onMSN Image : JPstock / Shutterstock.com
Citi Steps Up Investment in Low Code Technology Startups
UK-based low code application startup Dextcloud has received an unspecified investment from Citi, the second such deal struck by the US bank in as many months. Read moreon Finextra
Image: Isabelle OHara / Shutterstock.com
Temasek Looks to Health, Edu-Tech Investments After Pandemic
The Covid-19 outbreak this year has fuelled demand for digital health and education services, prompting the state investment firm to review potential targets to add to its US$227 billion portfolio. Read more on Businesstimes.com.sg Image: Ascannio / Shutterstock.com
International Capital Raising and M&A Highlights
Direct.me, which helps people organise their social presence and build greater personal connections, raised a £2m seed round, led by Fuel Ventures. UKTN
InFeedo is helping major companies efficiently listen to how happy or unhappy their employees are, raised $3.2M led by Bling Capital. Techcrunch
Livestorm, a Paris, France-based video communications platform that runs in a mobile or desktop browser, raised $30M in Series B funding led by Aglaé Ventures and Bpifrance Digital Venture. Finsmes
Macquarie is in exclusive talks to buy Italy’s biggest independent gas storage facility for more than 1 billion euros ($1.2 billion). Reuters
Metagenomi, a gene editing company, successfully completed a USD 65m Series A financing round led by Leaps by Bayer and Humboldt Fund. VCAonline
Paid, the UK-based procurement automation software platform, raised £2.2M seed funding led by Crane Venture Partners. UKTN
Pipedrive, the sales CRM tool for small and medium-sized businesses, is the latest European company to reach unicorn status. Vista Equity Partners now has a majority stake in Pipedrive now valued at at $1.5 billion. Techcrunch
Synendos Therapeutics, a Basel, Switzerland-based biopharmaceutical company, raised CHF20m in Series A financing co-led by Kurma Partners and Sunstone Life Science Ventures. Finsmes
Tiger Infrastructure Partners acquired Forsa Energy's distributed flexible power generation platform from Riverstone Holdings LLC. VCAonline
Veridas, the digital identity verification startup they created in 2017, has received capital infusion from BBVA and technology firm das-Nano. Finextra
Vikey, a startup that enables self check-in for accommodation facilities, has closed a new investment round of €800K, with the participation of CDP Venture Capital Sgr – Fondo Nazionale Innovazione. Eu-startups
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