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Monthly Archives: June 2021

The Scherzer Deal Report: June 14-18, 2021

Here is this week’s Deal Report for private equity and venture capital activity for US-based PE and VC firms and portfolio companies, brought to you by Scherzer International.

PE and VC Firms

Bertram Capital
$940M
Fourth lower midmarket PE fund

Flagship Pioneering
$3.4B
Seventh fund

G2 Venture Partners
$500M
Second fund

Lead Edge Capital
$150M
First public equities fund

LGT Capital Partners
$4.5B
Fifth private equity secondaries fund

Princeton Equity Group
$350M
Debut fund

SOSV
$100M
Select reinvestment fund

Topspin Consumer Partners
$205M
Second private equity fund

Private Equity Investors

Clearlake Capital Group
Confluence
Undisclosed
Pittsburgh, PA-based financial services data management platform

GHK Capital Partners
ITS Logistics
UndisclosedSparks, NV-based third-party logistics company

Oaktree Capital Management
Primary Wave Music
UndisclosedNew York, NY-based music publishing and talent management company

Venture Capital Investors

Signal Peak Ventures, GSV Ventures, Maveron, Backstage Capital​, Pelion Venture Partners
BookClub
$20M
Alpine, UT-based platform for author-led book clubs

Insight Partners, Cambridge Capital, GLP, Harlap, Next 47, Pereg Ventures, Salesforce Ventures, Viola Growth
Bringg
$100M
Chicago, IL-based delivery and fulfillment cloud platform

Bond, Insight Partners, Accel
BrowserStack
$200M
Plano, TX-based software testing platform

Bessemer Venture Partners, Standard Industries, LG Corp., Temasek
Claroty
$140M
New York, NY-based industrial cybersecurity company

Canaan Partners, NextGen Venture Partners, Baseline Ventures, Root Ventures, Cantos Ventures
Dusty Robotics
$16.5M
Mountain View, CA-based construction robotics startup

Two Bear Capital, AllegisCyber Capital, Panaseer, Atlantic Bridge
Elisity
$26M
Milpitas, CA-based enterprise edge security platform

Insight Partners, Lightspeed Venture Partners, Lux Capital, Haystack Ventures, Bloomberg Beta, Lockheed Martin, The Alexa Fund
Fiddler AI
$32M
Palo Alto, CA-based model performance management platform

Accel, Eight Roads, Intel Capital, Magma Venture Partners, PICO Partners
Gloat
$57M
New York, NY-based talent marketplace

JMI Equity
Greenlight Guru
$120M
Indianapolis, IN-based provider of quality management software for the medical device success market

General Atlantic, Generation Investment Management, Greyhound Capital, Felicis Ventures, Propel Ventures
Guideline
$200M
San Mateo, CA-based provider of 401(k) plans for SMBs

QED Investors, Backstage Capital, Green Book Ventures, Harbert Growth Partners, How Women Invest
Hello Alice
$21M
Houston, TX-based analytics platform for small business

SoftBank Vision Fund 2, Dragoneer, Goodwater Capital, Founders Fund,
FloodgateIRL
$170M
San Francisco, CA-based social calendar app

G2 Venture Partners, BlackRock, GV, Index Ventures, Greenoaks Capital, Scale Venture Partners
KeepTruckin
$190M
San Francisco, CA-based provider of fleet management software

Versant Ventures, RA Capital Management
Lenz Therapeutics
$47M
San Diego, CA-based developer of aceclidine eye drops for improving near vision

GP Bullhound, HV Capital, Ravensburger
Lingokids
$40M
Wilmington, DE-based early learning platform

Teradyne, Ridgeline Ventures, Tola Capital, Hyperplane
MachineMetrics
$20M
Northampton, MA-based autonomous machining startup

Renegade Partners, Forerunner Ventures, Coatue, Canaan PartnersNate$38MNew York, NY-based shopping appEurazeo, GV, One Peak Partners, Creandum, Greenbridge, DTCP, Lightrock
Neo4j
$325M
San Mateo, CA-based graph database company

Valar Ventures, Crosslink Capital, Rainfall Ventures, Red Sea Ventures, BoxGroup
Novo
$41M
Miami, FL-based small business banking platform

Tiger Global, Owl Rock Capital, the Collison brothers, Citi Ventures, Slack Fund, 8VC, Round13 Capital
Nylas
$120M
San Francisco, CA-based developer of APIs to integrate productivity tools

Insight Partners
PayCargo
$125M
Coral Gables, FL-based freight payment platform

World Innovation Lab, DBL Partners
R-Zero
$41M
San Francisco, CA-based maker of UV disinfecting machines for commercial and institutional customers

Avataar Venture Partners, Accel, GV
Sense
$16M
San Francisco, CA-based r ecruiting platform

General Catalyst, Bowery Capital, Slow Ventures
Stork Club
$30M
San Francisco, CA-based maternity care platform

Index Ventures, Redpoint Ventures
Transform
$20M
San Francisco, CA-based centralized metrics platform for companies

Andreessen Horowitz, First Round Capital, AccelUserLeap$38MSan Francisco, CA-based user feedback platform
SoftBank Vision Fund 2
Vianai Systems
$140M
Palo Alto, CA-based AI startup

Tiger Global, Alphabet, Andreessen Horowitz, AutoNation, CPP Investment Board, Fidelity, Magna International, Mubadala Investment Co., Perry Creek Capital, Silver Lake, T. Rowe Price Associates, Temasek
Waymo
$2.5B
Mountainside View, CA-based developer of self-driving car

Marker
Wristcam
$25M
San Mateo, CA-based maker of Apple Watch accessories

June 25th, 2021|Scherzer Deal Report|

REMINDER TO NYC EMPLOYERS: NEW REQUIREMENTS UNDER FAIR CHANCE ACT GO INTO EFFECT JULY 28, 2021

On January 10, 2021, the New York City Council passed an amendment (Local Law 4) to the city’s Fair Chance Act (FCA) which significantly expands protections for job applicants and employees. The amendment goes into effect July 28, 2021. Below are highlights of Local Law 4:

  • Expands scope of “criminal history” to include pending arrests and other criminal accusations.
    The FCA process must be used to determine if a pending arrest or other “criminal accusation” may be the basis to rescind a conditional job offer. Such rescission may only occur if, after considering the relevant fair chance factors “the employer determines that either (i) there is a direct relationship between the alleged wrongdoing that is the subject of the pending arrest or criminal accusation and the employment sought or held by the person; or (ii) the granting or continuation of the employment would involve an unreasonable risk to property or the safety or welfare of specific individuals or the general public.”
  • Adds new factors to the individual assessment for pending arrests or criminal charges, or convictions that occur during employment.
    Employers will have to consider the following factors, in lieu of the Article 23-A analysis:
  • The New York City policy “to overcome stigma toward and unnecessary exclusion of persons with criminal justice involvement in the areas of licensure and employment”;
  • the specific duties and responsibilities “necessarily related” to the job;
  • the bearing, if any, of the criminal offense or offenses for which the applicant or employee was convicted, or that are alleged in the case of pending arrests or criminal accusations, on the applicant’s or employee’s fitness or ability to perform one or more such duties or responsibilities;
  • whether the employee or applicant was 25 years of age or younger at the time the criminal offense(s) for which the person was convicted occurred, or that are alleged in the case of pending arrests or criminal accusations;
  • the seriousness of such offense(s);
  • the employer’s “legitimate interest” in “protecting property, and the safety and welfare of specific individuals or the general public”; and
  • any additional information produced by the applicant or employee, or produced on their behalf, regarding their rehabilitation or good conduct, including history of positive performance and conduct on the job or in the community, or any other evidence of good conduct.
  • Prohibits inquiries about specified criminal matters.
    At no time may an employer take an adverse action against an applicant or employee based on that person’s (i) violations; (ii) non-criminal offenses; (iii) non-pending arrests or criminal accusations; (iv) adjournments in contemplation of dismissal; (v) youthful offender adjudications; or (vi) sealed offenses, if disclosure of such matters would violate the New York State Human Rights Law.
  • Requires employers to solicit from the candidate information related to the FCA process.
    Currently, the FCA requires employers to only solicit evidence of rehabilitation and good conduct.
  • Expands the time for candidates to respond to the employer’s written assessment from three to five days.
  • Codifies guidance from the New York City Commission on Human Rights on revoking a conditional offer of employment.
    Employers may only revoke the conditional offer based on (i) the findings of a criminal background check following an individual assessment conducted pursuant to the FCA process, (ii) the results of a medical examination, consistent with the Americans with Disabilities Act; or (iii) other information obtained by the employer after making the conditional offer, if the employer could not be reasonably expected to have that information prior to making the offer and the employer would not have made the offer if it had possessed such information.
  • Requires production of evidence to the applicant or employee where the employer takes adverse action pursuant to an alleged misrepresentation by the applicant or employee.
    Und3r the existing FCA, an employer may take adverse action against candidates who intentionally misrepresent information to the employer. The Law will continue to allow an employer to take such action, but will require the employer to provide to the candidate the documents or other materials that support the employer’s claim of misrepresentation and permit the individual a “reasonable” amount of time to respond prior to taking the adverse action.
June 10th, 2021|Employment Decisions, Legislation|

The Scherzer Deal Report: June 1-4, 2021

Here is this week’s Deal Report for private equity and venture capital activity for US-based PE and VC firms and portfolio companies, brought to you by Scherzer International.

PE and VC Firms

Architect Capital
$100M
Debut fund

Frazier Healthcare Partners
$1.4B
Tenth midmarket buyout fund

Keystone Capital Management
$420M
First institutional fund

Local Initiatives Support Corporation (LISC)
$250M
Black Economic Development Fund

Luminate Capital Partners
$1B
Third fund

Mercato Partners
$100M
Second fund

Paceline Equity Partners
$350M
First opportunities fund

TA Associates
$12.5B
Fourteenth flagship fund

Toyota Ventures
$150M
Pair of new, $150 million VC funds: One focused on frontier tech, another on climate tech

Tuesday Capital
$30M
Fourth VC fund

VenBio
$550M
Fourth life sciences VC fund

Private Equity Investors

Wind Point Partners
American Trailer Rental Group
Undisclosed
Walton, KY-based trailer rental company

Clearlake Capital Group
BeyondTrust
Undisclosed
Johns Creek, GA-based provider of privileged access management software

Searchlight Capital Partners
Care Advantage
Undisclosed
Richmond, VA-based at-home care provider

York Capital Management
Cennox
Undisclosed
Atlanta, GA-based ATM machine and self-checkout kiosk maker

Sun Capital Partners
Century Distribution Systems
Undisclosed
Glen Allen, VA-based provider of supply chain management and freight forwarding services

Platinum Equity
Club Car
$1.7B
Augusta, GA-based golf cart maker

Apollo Global Management
EmployBridge
UndisclosedAtlanta, GA-based industrial staffing company

Warburg Pincus
Global Healthcare Exchange
Undisclosed
Louisville, CO-based healthcare supply chain management firm

The Blackstone Group
International Data Group
$1.3B
Needham, MA-based provider of tech content, data and market research

Swander Pace Capital
Mommy’s Bliss
Undisclosed
Richmond, CA-based OTC wellness brand for families

The Carlyle Group, Warburg Pincus
NeoGov
Undisclosed
El Segundo, CA-based provider of public sector HR management and policy management software

ECP
Pivot Energy
Undisclosed
Denver, CO-based commercial and community solar developer

Cerberus Capital Management
Red River
Undisclosed
Claremont, NH-based provider of IT management solutions

Arcline Investment Management
Resolution Medical
Undisclosed
Fridley, MN-based contract development and manufacturing organization for med-tech

Yellow Wood Partners
Scholl
Undisclosed
Chicago, IL-based footcare products brand

Incline Equity Partners
Starwest Botanicals
Undisclosed
Sacramento, CA-based distributor of organic botanicals, herbs, and spices

Venture Capital Investors

Riverwood Capital, Sanabil Investments, Snowflake Ventures, Costanoa Ventures, Dell Technologies Capital, Salesforce Ventures, Sapphire Ventures
Alation
$110M
Redwood City, CA-based collaborative enterprise data platform

VMG
Bobbie
$15M
San Francisco, CA-based organic infant formula startup

QED Investors, Bling Capital, ScifiVC, Caffeinated Capital
Capchase
$125M
New York, NY-based provider of non-dilutive capital

SVB Capital, Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital, Brue2 Ventures
Chipper Cash
$100M
San Francisco, CA-based cross-border payments company focused on Africa

Fidelity, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC
Circle
$440M
Boston, MA-based provider of payment and treasury infrastructure solutions for online businesses

The Rise Fund
Climavision
$100M
Louisville, KY-based weather services and intelligence platform

Franklin Templeton, Coatue, Salesforce Ventures, Sequoia, Thrive Capital, Tiger Global
Gong
$250M
Palo Alto, CA-based revenue intelligence startup

Bessemer Venture Partners, Cowboy Ventures, D1, Emerson Collective, General Catalyst, GSV, Harrison Metal, ICONIQ, Redpoint Ventures, Salesforce Ventures
Guild Education
$150M
Denver, CO-based education benefits platform

Eldridge
Illuminarium Experiences
$100M
Atlanta, GA-based experiential entertainment company

Andreessen Horowitz, YC Continuity Fund, Jaguar Ventures, Urban Innovation Fund, Uncorrelated Ventures, Clocktower Ventures, Stanford University, 9 Yards Capital, BlockFi Ventures
Jeeves
$26M
New York, NY-based expense management platform

Insight Partners, Velvet Sea Ventures
LeoLabs
$65M
Menlo Park, CA-based orbital object tracking startup

GIC, Qualcomm Ventures, Tiger Global, Falcon Edge
Locus
$50M
San Francisco, CA-based supply chain decision-making automation platform

Goldman Sachs, IA Capital, Moderne Ventures, Accomplice, Link Ventures, Motley Fool Ventures, CMFG Ventures
MotoRefi
$45M
Washington, DC-based auto loan refinancing platform

Invesco Real Estate
Mynd
$40M
Oakland, CA-based property management platform for single-family rentals

Brookfield Property Group, Maywic, Fantail Ventures, Raga Partners
New Stand
$40M
New York, NY-based physical vending product developer

Premji Invest, Steadfast Capital, Tiger Global Management, Sequoia Capital Global Equities, Vista Public Strategies, Salesforce Ventures, Lone Pine Capital, Sands Capital, Mayfield Fund, DFJ Growth, Trinity Ventures
Outreach
$200M
Seattle, WA-based sales engagement platform

Warburg Pincus
Phil
$56M
San Francisco, CA-based software therapy deployment platform

Coatue, Primary Ventures, Semper Virens, First Round Capital, Upfront Ventures
Pinwheel
$20M
New York, NY-based the payroll API

Goldman Sachs, Emergence Capital, Girteka, Lineage Logistics
Project44
$202M
Chicago, IL-based supply chain logistics company

HAHN Automation, SAIC Capital Management, Soundproof Ventures, Heroic Ventures, SPARX Asset Management, Omron Ventures, Toyota AI Ventures, Scrum Ventures, Duke Angels
Realtime Robotics
$31.4M
Boston, MA-based industrial robotics startup

Ten Elev en Ventures, Valor Equity Partners, SVB Capital
Redacted
$35M
San Francisco, CA-based cybersecurity startup

Vivo Capital
Scientia
$50M
Salt Lake City, UT-based developer of microcatheters and guidewires

Andreessen Horowitz, YC, Craft Ventures, M13, Padma Lakshmi, Tiffany Haddish, Andre Iguodala
Shef
$20M
San Francisco, CA-based meal delivery marketplace for home chefs

Bessemer Venture Partners
Shippo
$50M
San Francisco, CA-based provider of shipping software

Lightspeed Venture Partners, Salesforce Ventures, Stripes, Norwest Venture Partner
Spiff
$68M
Salt Lake City, UT-based provider of sales commission software

Zigg Capital, Bessemer Venture Partners, Scale Venture Partners
Spruce
$60M
New York, NY-based title and residential closing tech platform

Sporos Bioventures
Stellanova Therapeutics
$15.5M
Houston, TX-based cancer biotech

Fin VC, Mastercard, Gaingels, Lightspeed Venture Partners, Diagram Ventures, SciFi Ventures, Scribble Venture
Synctera
$33M
San Francisco, CA-based fintech platform for banks

HealthQuest Capital, Mousse Partners, Bracket Capital, Polaris Partners, Johnson & Johnson Northzone, Greycroft
Thirty Madison
$140M
New York, NY-based maker of products for chronic health conditions

Accel, Bessemer Venture Partners, Cota Capital, Eldridge Industries
Truebill
$45M
Silver Spring, MD-based personal finance management app

Norwest Venture Partners, Sapphire Ventures, ServiceNow Ventures
Uptycs
$50M
Waltham, MA-based cloud-native security analytics platform

Tarsadia Investments, Kingfisher Investment, Top Tier Capital Partners, Gaingels, Edison Partners, Soros Fund Management, Greenspring Associates, Raine Ventures, Greycroft, Expansion VC
Yieldstreet
$100M
New York, NY-based alternative investing platform

June 9th, 2021|Scherzer Deal Report|

The Scherzer Deal Report: May 24-28, 2021

Here is this week’s Deal Report for private equity and venture capital activity for US-based PE and VC firms and portfolio companies, brought to you by Scherzer International.

PE and VC Firms

Accolade Partners
$200M
Fund-of-funds focused on women and diverse managers

BBH Capital Partners
$1.215B
Sixth fund 

Branford Castle Partners
$202.5M
Second fund

Collab Capital
$50M
Debut fund

Entrepreneurial Equity Partners
$423M
Debut fund

First Move Capital
$150M
New fund

HarbourVest Partners
$833M
Second credit opportunities fund

Private Equity Investors

BDT Capital Partners
Culligan
Undisclosed
Rosemont, IL-based provider of consumer-focused water treatment products

Thoma Bravo
Greenphire
Undisclosed
King of Prussia, PA-based provider of financial lifecycle management software for clinical trials

Ranch Creek Partners
InSite Telecom
Undisclosed
Orange, CA-based provider of wireless and wireline telecom construction, installation and maintenance services

L Catterton
Kodiak Cakes
Undisclosed
Park City, UT-based pancake mix

Swander Pace Capital
Mighty Spark
Undisclosed
Minneapolis, MN-based protein snacks brand

Morgan Stanley Capital Partners
Nivel Parts & Manufacturing
Undisclosed
Jacksonville, FL-based maker of branded aftermarket parts for vehicles

Trive Capital
Oscar Larson
Undisclosed
Clarkson, MI-based provider of fuel infrastructure equipment distributor and services provider

Morgan Stanley Capital Partners
Sila
Undisclosed
King of Prussia, PA-based HVAC company

Odyssey Investment Partners
The Planet Group
Undisclosed
Chicago, IL-based professional services organization

SK Capital Partners
Valentus Specialty Chemicals
Undisclosed
North Brunswick, NJ-based wood coatings company

Venture Capital Investors

Benchmark, 8VC, Accel, SV Angel, Y
Airbyte
$26M
San Francisco, CA-based data connector platform

Coatue, Iconiq, Energize Ventures, Fifth Wall
Aurora Solar
$250M
San Francisco, CA-based solar panel installation startup

Fidelity, Amplo, Gaingels, GV, General Catalyst, GGV Capital, Temsek, Groupe Artémis
Bowery Farming
$300M
New York, NY-based vertical farming company

Bessemer Venture Partners, Founders Fund, Breyer Capital, Threshold
Clearing
$20M
New York, NY-based digital healthcare platform for chronic pain

GGV Capital, Xfund, Bold Capital
Curebase
$15M
Walnut, CA-based provider of decentralized clinical trial software

Intermediate Capital Group, RA Capital Management, Access Biotechnology, Samlyn Capital, Acorn Bioventures, LifeArc
Eliem Therapeutics
$60M
Redmond, WA-based biotech focused on neuronal excitability disorders

Tiger Global, Addition, Fifth Wall, MetaProp, Gaingels, Declaration Partners, ACME Capital, Redesign Health
Ever/Body
$38M
New York, NY-based cosmetic dermatology provider

Tiger Global, Third Point Ventures, Adage Capital Management, Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures, Scale Venture Partners
Forter
$300M
New York, NY-based provider of e-commerce fraud prevention solutions

Farallon Capital Management, Soleus Capital
GenapSys
$70M
Redwood City, CA-based developer of gene sequencing equipment

Norwest Venture Partners, Adams Street, Javelin, LiveOak Venture Partners
Homeward
$136M
Austin, TX-based residential home-buying enablement platform

LL Fund, Insita Group
Leif
$60M
New York, NY-based education access company

Cormorant Asset Management, HBM Healthcare, Octagon Capital Advisors, EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, BlackRock, RA Capital Management, Surveyor Capital, Samsara BioCapital, PFM Health Sciences, Invus, Janus Henderson, Logos Capital, CBC Group, RTW Investments, Lilly Asia Ventures, Matrix Partners China, Casdin Capital
NiKang Therapeutics
$200M
Wilmington, DE-based developer of small molecule oncology medicines

Silver Lake, Oak HC/FT, Temasek, Novo Holdings
Noom
$540M
New York, NY-based weight and wellness app

SoftBank Vision Fund 2, Spark Capital, Victory Park Capital
Perch
$775M
Boston-based Amazon marketplace rollup platform

Bregal Sagemount
Printful
$130M
Charlotte, NC-based print-on-demand company

G2VP, International Finance Corp., IDB Invest, Anterra Capital, Coventure, Astanor Ventures, IGNIA, Finister
ProducePay
$43M
Los Angeles, CA-based financing and marketplace platform for the fresh produce market

Salesforce Ventures, Norwest Venture Partners, Redpoint Ventures
Qualified
$51M
San Francisco, CA-based website user visibility platform for sales and marketing teams

Tiger Global, Menlo Ventures, Frontline Ventures, MHS Capital, Operator Partners, Sorenson Ventures, Storm Ventures
Qualio
$50M
San Francisco, CA-based provider of quality management system software for life sciences

YC Continuity Fund, Index Ventures, SaaStr, Oakhouse, Adjacent, FundersClub
RevenueCat
$40M
San Francisco, CA-based provider of in-app subscription tools

Andreessen Horowitz, Haystack, Upside Partnership
Rewatch
$20M
San Francisco, CA-based enterprise video platform

Ten Coves Capital, Centana Growth Partners, Studio Management
Sentieo
$20M
San Francisco, CA-based financial and corporate research platform

Level Equity
SevenFifty
$23M
New York, NY-based supply chain platform for the alcoholic beverage market

Lafayette Square
Sharebite
$15M
New York, NY-based workplace food ordering platform

Tiger Global, Sequoia Capital, YC, F-Prime, Maverick, Alkeon, Wellington Management
Snapdocs
$150
MSan Francisco, CA-based digital mortgage closing platform

Andreessen Horowitz, Mubadala, DST Global, 01 Advisors, Dragoneer Investment Group, Franklin Templeton
SpotOn
$125M
San Francisco, CA-based provider of point-of-sale payment solutions

YC Continuity, Andreessen Horowitz, Animal Capital
Whatnot
$50M
Los Angeles, CA-based live-streamed collectibles marketplace

B Capital Group
Yalo
$50M
San Francisco, CA-based conversational commerce platform

SoftBank Vision Fund 2, Sodexo
Zeta
$250M
San Francisco, CA-based banking tech startup

June 2nd, 2021|Scherzer Deal Report|
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