Scherzer Blog

The Scherzer Deal Report: April 15-19, 2024

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.

Sign up: Get private equity and venture capital deals delivered to your inbox every week.!

Fundraising for PE & VC Funds

Andreessen Horowitz
$7.2B
Growth fund ($3.75B), AI Infrastructure ($1.25B), AI apps ($1B), American Dynamism ($600M), and Gaming II ($600M)

Chevron
$500M
Third clean tech venture fund

Evolution Equity Partners
$1.1B
Third fund

Maven Ventures
$60M
Fourth fund

SOSV
$306M
Fifth fund

SpringTide Ventures
$65M
Second fund

Underscore VC
$58M
Third fund

Vista Equity Partners
$20B
Eighth flagship fund

Wellington Management
$385M
Cimate tech venture fund

Private Equity Deals

Forward Consumer Partners
Firehook Bakery
Undisclosed amount
Chantilly, VA-based artisan baking business

Wynnchurch Capital
Handgards
Undisclosed amount
El Paso, TX-based manufacturer and supplier of disposable food safety products for the food service industry

Godspeed Capital Management
Special Aerospace Services
Undisclosed amount
Boulder, CO-based spaceflight engineering and facilities company

Venture Capital Deals

Sunstone Capital
Accuhealth
$200M
McAllen, TX-based remote patient-monitoring company

Evolution Equity Partners, Foundation Capital, Cervin, Myriad, Point72, Outpost, and G Squared
Anvilogic
$45M
Palo Alto, CA-based enterprise data management startup

Questa Capital, Laerdal Million Lives Fund, Catalyst Health Ventures, RC Capital, and Eckuity Capital
Avive Solutions
$56.5M
San Francisco, CA-based remote cardiac arrest device maker

A* Capital, Andreessen Horowitz, XYZ Ventures, ex/ante, Costanoa Ventures, Point72 Ventures, Forward Deployed VC, and Karman Ventures
Cape
$61M
Arlington, VA-based mobile carrier

Spring Lane, Ahlström Invest, AXA Investment Managers, Climate Innovation Capital, and Tokyu Construction/Global Brain
CleanFiber
$28M
Buffalo, NY-based cardboard-to-insulation material producer.

IGP Capital, Vertex Ventures, and TPY Capital
Dot Compliance
$17.5M
Phoenix, AZ-based life sciences quality management software company

Respida Capital, Carver Road Capital, and Gala Capital Partners
Ecotrak
$30M
Irvine, CA-based facility management software platform.

Maverix Private Equity, TELUS Ventures, and I Squared Capital
Kode Labs
$30M
Detroit, MI-based maker of building energy management software.

Goldman Sachs
Kontakt.io
$47.5M
New York, NY-based hospital indoor tracking startup.

Khosla Ventures, Berkeley SkyDeck Fund, Emergent Ventures, Fusion Fund, and Surface Ventures
Loft Labs
$24M
San Francisco, CA-based Kubernetes startup

Mayfield
NeuBird
$22M
San Francisco, CA-based software and infrastructure reliability management startup.

Energy Impact Partners, Galvanize Climate Solutions, Garage Capital, Gradient Ventures, Incite Ventures, MCJ Collective, Lowercarbon Capital, and Drew Scott
Quilt
$33M
Redwood City, CA-based heat pump startup

Khosla Ventures, Founders Fund, Sequoia Capital, Greylock, 8VC, Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, and Contrary Capital
Ramp
$150M
New York, NY-based corporate finance management startup

Coatue
Rippling
$200M
San Francisco, CA-based employee onboarding tech startup

Matrix Capital Management, Intel Capital, MediaTek, Cambium Capital, CIDC, Capital TEN,Hotung Venture Group, Walden Catalyst, Dell Technologies Capital, Koch Disruptive Technologies, and VentureTech Alliance
Rivos
$250M
Santa Clara, CA-based RISC-V server tech company

Amplo and Fifth Down Capital
Two Chairs
$72M
San Francisco, CA-based in person therapy startup

Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, IBK Securities, SBVA, Primer Sazze, Company K Partners, and Premier Partners
Upstage
$72M
San Jose, CA-based document processing AI startup.

April 24th, 2024|Scherzer Deal Report|

County of Los Angeles Enacts Fair Chance Ordinance New Hiring Requirements for Employers


What is this about?
On February 27, 2024, the County of Los Angeles Board of Supervisors voted to adopt the County’s Fair Chance Ordinance for Employers (FCO). The FCO aligns with the California Fair Chance Act (FCA), also known as “Ban the Box.” However, it adds several compliance requirements when considering the applicant’s criminal record history to make an employment decision.

Effective Date:
The FCO is operative on September 3, 2024.

Who must comply:
The FCO applies to any “employer” located or doing business in the unincorporated areas of Los Angeles County who employs five or more employees regardless of location. The FCO protects both applicants seeking employment and employees seeking promotions, as well as others seeking non-traditional employment, such as contract or freelance work.

New requirements:
Notice of Intent to Conduct Background Check. This notice must be given along with any conditional offer of employment to the applicant or employee that states (1) the conditional offer is contingent upon a review of a criminal record history and (2) the employer has good cause to conduct the criminal history review “for the specific job position with supporting justification in writing.” It is not enough for the employer to merely state it reviews such information because of a generalized “safety concern.” Specific information is required.

Before employers can take any adverse action against an individual, such as rescinding a conditional job offer, the FCO requires the employer to (1) prepare a written individualized assessment of an applicant’s criminal history in the manner required by the FCO; (2) provide a form of preliminary notice of adverse action with mandatory content; (3) provide a second written individualized assessment if the individual provides information in response to the preliminary notice of adverse action; and (4) provide a final notice of adverse action if the employer makes a final decision to withdraw the conditional offer of employment or take any other adverse action (the final notice must also include mandatory content).

Why compliance matters:
The FCO authorizes public and private remedies, including civil claims. The County of Los Angeles Department of Consumer and Business Affairs (DCBA) is authorized to take appropriate steps to enforce the FCO and conduct investigations of possible violations by an employer. The DCBA may issue monetary penalties of up to $5,000 for the first violation, up to $10,000 for the second violation, and up to $20,000 for the third and subsequent violations.

How SI can help:
SI can help ensure compliance in several ways, including the timing of background checks, the distribution of mandatory and sample notices, and the monitoring of the required time periods for taking adverse action.

The Scherzer Deal Report: April 8-12, 2024

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.

Sign up: Get private equity and venture capital deals delivered to your inbox every week.!

Fundraising for PE & VC Funds

Adams Street Partners
$1B
First middle-market CLO

AlleyCorp
$250M
New fund

Cendana Capital, Kline Hill Capital
$105M
Venture stake secondaries fund

Compass Group Equity Partners
$408M
Third fund

Hellman & Friedman
$22.3B
11th flagship PE fund

Lone View Capital
$805M
Debut fund.

Toyota Ventures
$300M
Frontier Fund II and the Climate Fund II

Private Equity Deals

Blackstone
AIR Communities
Undisclosed amount
Denver, CO-based apartment landlord

General Atlantic Credit, Blackstone, and Morgan Stanley
Buyers Edge Platform
$425M
Waltham, MA-based provider of digital procurement solutions for foodservice

New York Life
Fairview Capital
Undisclosed amount
West Hartford, CT-based private investment firm

Peak Rock Capital
Hu FriedyGroup
Undisclosed amount
Chicago, IL-based dental business

Factor89 Group
Master Magnetics
Undisclosed amount
Castle Rock, CO-based magnet maker

OceanSound Partners and Energy Impact Partners
Message Broadcast
Undisclosed amount
Newport Beach, CA-based provider of electric utility customer engagement software

Vista Equity Partners
Model N
$1.25B
Redwood Shores, CA-based provider of revenue optimization and compliance solutions focused on pharma and med tech.

HarbourView Equity Partners
Mucho Mas Media
Undisclosed amount
Los Angeles, CA-based content studio focused on the Latino audience.

Investment Management, Generate Capital, and Mitsubishi
Nexamp
$520M
Boston, MA-based community solar company

Washington Harbour Partners
Raft
$60M
Reston, VA-based software engineering firm

Crest Rock Partners
Relocity
Undisclosed amount
Los Angeles, CA-based provider of employee relocation software

CoreRx
Societal CDMO
$130M
Gainesville, GA-based contract development and manufacturing organization focused on small molecule therapeutics.

EMH Partners
Stonebranch
Undisclosed amount
Alpharetta, GA-based provider of service orchestration and automation solutions

Osceola Capital
Trauma Services
Undisclosed amount
Mansfield, MA-based provider of full-service biohazard cleanup and remediation services

Serent Capital
Traumasoft
Undisclosed amount
Portage, MI-based provider of cloud software for private EMS agencies and health care orgs.

Behrman Capital
Vista Apex
Undisclosed amount
Racine, WI-based maker of consumable dental products

Venture Capital Deals

GV, Hakluyt Capital, and Ballistic Ventures
Alethea
$20M
Washington, DC-based disinformation detection and mitigation startup

Khosla Ventures, Sequoia, and Index Ventures
Anrok
$30M
San Francisco, CA-based sales tax compliance software company

StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital
Auradine
$80M
Santa Clara, CA-based bitcoin miner maker

ABS Capital
Cariloop
$20M
Richardson, TX-based caregiving support platform for employers.

General Catalyst, Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, Mayo Clinic, Neo, 1984 Ventures, MVP Ventures, and Calibrate Ventures
Cobot
$100M
Santa Clara, CA-based maker of practical collaborative robots

Highmount Capital
Dude Perfect
$100M
Frisco, TX-based group of sports and comedy show hosts.

Paradigm and Electric Capital
Ellipsis Labs
$20M
New York, NY-based crypto exchange developer

Vensana Capital and RC Capital
Elucent Medical
$42.5M
Eden Prairie, MN-based provider of oncologic surgical treatment tools

Iconiq Growth, BDT & MSD Partners, WiL, Meritech Capital, and Sapphire Ventures
FloQast
$100M
Los Angeles, CA-based provider of workflow automation software for accountants

Sequoia Capital, Goldman Sachs, Plus Capital, Transformation Capital, SignalFire, and TCV
Grow Therapy
$88M
New York, NY-based mental health startup

KKR, Inovia Capital, Apax Partners, BDT & MSD Partners, and Sixth Street
Guesty
$130M
New York, NY-based provider of property management software for the short-term rental and hospitality markets

Pantera Capital, Multicoin Capital, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, and Asymmetric Ventures
Mezo
$21M
Chicago, IL-based Bitcoin scaling network

Paradigm, Electric Capital, and Greenoaks
Monad Labs
$225M
New York, NY-based layer 1 blockchain developer

C.R. England, Cummins, Daimler Truck, PACCAR, RyderVentures, Schneider, Activant Capital, BDT & MSD Partners, Manhattan Venture Partners, 8VC, NewRoad Capital Partners, and Prologis Ventures
Platform Science
$125M
San Diego, CA-based enterprise fleet management platform

Accel, Elevation Capital, and Blume Ventures
Sprinto
$20M
San Francisco, CA-based security compliance automation startup

Khosla Ventures, Day One Ventures, General Catalyst, Abstract Ventures, and Buckley Ventures
Symbolica
$33M
San Francisco, CA-based foundation model startup

Caffeinated Capital, Lux Capital, General Catalyst, Founders Fund, and Khosla Ventures
Varda Space
$90M
El Segundo, CA-based in-space manufacturing startup

Prelude Ventures, Amazon’s Climate Pledge Fund, Global Brain, Incite Ventures, Positive Ventures, B37 Ventures, Breakthrough Energy Ventures, Mayfield, and Untitled
Windfall Bio
$28M
Menlo Park, CA-based methane capture and transformation startup

GM Ventures, Bridgestone Americas, Universal Motors Agencies, and Shikra
Yoshi Mobility
$26M
Nashville, TN-based vehicle gas delivery and service app

April 17th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: April 1-5, 2024

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.

Fundraising for PE & VC Funds

Arctos
$4.1B
Second pro sports fund

Bitkraft Ventures
$275M
Third gaming-focused VC fund

Clarion Capital Partners
$677M
Fourth fund

GoldenTree
$1.3B
Third CLO fund

Hildred Capital
$750M
Continuation fund

ICG
$1B
Debut secondaries fund.

OceanSound
$1.15B
Continuation fund

SK Capital Partners
$2.95B
Sixth fund

Warren Equity Partners
$550M
Second small-cap infrastructure fund

Private Equity Deals

Littlejohn & Co.
UAT
Undisclosed amount
Lorton, VA-based provider of residential HVAC and plumbing services.

Blue Sage Capital
American Alloy
Undisclosed amount
Spokane, WA-based metal component and sub-assembly manufacturing platform

Valesco
American Bedding
Undisclosed amount
Athens, TN-based maker of mattresses and bed frames.

EQT
Avetta
Undisclosed amount
Lehi, UT-based supply chain risk management platform

TPG
Classic Collision
Undisclosed amount
Atlanta, GA-based provider of auto body repair services

Steve Singh, Durable Capital Partners, Madrona Ventures, Top Tier Capital Partners, and Blackstone Credit & Insurance
Direct Travel
Undisclosed amount
Centennial, CO-based corporate travel management firm.

Petershill
Kennedy Lewis Investment Management
Undisclosed amount
New York, NY-based credit manager.

Blue Owl Capital
Kuvare Asset Management
$750M
Rosemont, IL-based provider of asset management services to the insurance industry

Summit Partners
Netgain
$35M
Denver, CO-based provider of software for finance and accounting teams

Clayton, Dubilier & Rice
Presidio
Undisclosed amount
New York, NY-based IT and managed services firm

Broad Sky Partners
Punctual Pros
Undisclosed amount
Lancaster, PA-based Authority Brands franchisee that provides HVAC and electrical services.

New Mountain Capital
Rawlings
Undisclosed amount
La Grange, KY-based provider of coverage analytics for health plans.

Morgan Stanley Capital Partners
Resource Innovations
Undisclosed amount
Half Moon Bay, CA-based provider of energy efficiency services

KKR Sun
FireMatrix
Undisclosed amount
Carlisle, MA-based provider of health plan and insurance distribution software

Venture Capital Deals

Sumeru Equity Partners and Alsop Louie Partners
Aerospike
$100M
Mountain View, CA-based NoSQL database.

General Catalyst, Tata, Drads Capital, Thomvest, and Thrive Capital
Alsym Energy
$78M
Woburn, MA-based battery startup

Goldman Sachs, Canaan Partners, Invus, Driehaus Capital Management, Digitalis Ventures, Blue Owl Capital, Orbimed, Nextech Invest, Vida Ventures, Boxer Capital, and Colt Ventures
Alterome Therapeutics
$132M
San Diego, CA-based cancer biotech

Hildred Capital and EQT Life Science
Binx Health
$65M
Boston, MA-based diagnostic testing startup

Alpha Wave Ventures, Niterra, RiverVest Venture Partners, AXA IM Alts, Global Health Investment, Aphelion Capital, Senvest Management, Features Capital, and Taisho Pharmaceutical
Biolinq
$58M
San Diego, CA-based developer of multi-analyte biosensors for metabolic health

ReGen Ventures, Toyota Ventures, AmFam Ventures, Convective Capital, Blue Forest Asset Management, Skip Capital, Overture Ventures, Lowercarbon, and Pathbreaker Ventures
BurnBot

$20M
San Francisco, CA-based developer of wildfire prevention robots

Industry Ventures, Emergence Capital, 11.2 Capital, Bob Muglia, DNX Ventures, GreatPoint Ventures, Hyperlink Ventures, Next Legacy Partners, Snowflake Ventures, and Telstra Venture
Coalesce.io
$50M
San Francisco, CA-based provider of data management software

General Catalyst, Citi Ventures, Human Capital, Rob Bearden, and MVP Ventures
Datavolo
$21M
Phoenix, AZ-based provider of multimodal data pipelines for AI.

Nexus NeuroTech Ventures and Venture Investors Health Fund
EarliTec Diagnostics
$21.5M
Decatur, GA-based developer of medical devices for children with autism

Streamlined Ventures and AppLovin
Flip
$144M
El Segundo, CA-based shopping social network

L Catterton, Emerson Collective, Notable Capital, Bain Capital Ventures, Khosla Ventures, Cowboy Ventures, and Plus Capital
Homebase
$60M
San Francisco, CA-based HR and team management app for small businesses

Chevron New Energies
Ion Clean Energy
$45M
Boulder, CO-based carbon capture developer

March Capital, National Grid Partners, and Slaughter and May
Luminance
$40M
Santa Monica, CA-based AI startup for the legal market

TQ Ventures, Calibrate Ventures, SK Ventures, and TTCER Partners
Manifold
$15M
Newton, MA-based clinical research platform

Left Lane Capital, Ensemble VC, Signalfire, and Learn Capital
Modal
$25M
San Francisco, CA-based employee upskilling startup

Airbus Ventures, REI, Path Ahad Ventures, Platinum Mile Ventures, Culper Ventures, Crumpton Ventures, and Iron Gate Capital Advisors
Oros Labs
$22M
Portland, OR-based provider of thermal insulation solutions for outdoor equipment and clothes

Frist Cressey Ventures, SignalFire, Epsilon Health Investors, and Providence Ventures
Praia Health
$20M
Chicago, IL-based consumer platform for health systems

RA Capital Management, Northpond Ventures, Sands Capital, and Schooner Capital
Selux Diagnostics
$48M
Charlestown, MA-based biotech focused on superbug infections and antimicrobial resistance

Bond Capital, Index Ventures, NFX, and SV Angels
Seso
$26M
San Francisco, CA-based hiring and workforce management startup focused on the agriculture industry

Maverick Capital, Point72, Jericho, Amplify Partners, Dell Technologies Capital, and Lip-Bu TanSi
Ma.ai
$70M
San Jose, CA-based system-on-chip company

Venture Investors Health Fund, Arboretum Ventures, and KKR-backed Falcon Vision
ViaLase
$40M
Aliso Veijo, CA-based glaucoma treatment developer

April 10th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: March 25-29, 2024

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.

Fundraising for PE & VC Funds

Grafine Partners
$600M
Debut PE fund-of-funds

Hunter Point Capital
$3.3B
Debut fund

Matter Partners
$300M
Debut fund

Percheron Capital
$1.55B
Second fund

Super{set}
$90M
Second fund

Private Equity Deals

NEA, Deep Track Capital, Sofinnova Investments, Sands Capital, INCE Capital, TF Capital, Delos Capital, and Quan Capital
Avenzo Therapeutics
$150M
San Diego, CA-based cancer drug developer

Susquehanna and WestCap
Blueground
$45M
New York, NY-based furnished monthly rental property company

Section 32, Kennedy Lewis, Time BioVentures, Redwood Pacific and insiders ACME, Mousse Partners, and Triventures
Brightside Health
$33M
San Francisco, CA-based telemental health provider

USIT, AMD Ventures, Koch Disruptive Technologies, Temasek, IAG Capital Partners, Samsung Catalyst, Smart Global Holdings, Porsche, Engine Ventures, M-Ventures, and Tyche Partners
Celestial AI
$175M
Santa Clara, CA-based developer of optical interconnect solutions

Point72 Ventures, W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures
Champ Titles
$18M
Cleveland, OH-based vehicle title and registration platform

Entrée Capital and IN Venture
Confetti
$16M
New York, NY-based team-building platform

Andreessen Horowitz, Polygon Labs, StarkWare, Taiko, and Offchain Labs
Espresso Systems
$28M
Menlo Park, CA-based “shared sequencing” blockchain startup

Engine Ventures, 3M Ventures, and NextEra Energy
Evoloh
$20M
Santa Clara, CA-based maker of electrolyzers for hydrogen production

Bessemer Venture Partners, 8VC, and Elad Gil
Fieldguide
$30M
San Francisco, CA-based developer of AI-enabled tools for accountants

Energy Impact Partners
Finite State
$20M
Columbus, OH-based provider of software supply chain security solutions

Benchmark, Sequoia Capital, Databricks Ventures, and Frank Slootman
Fireworks.ai
$25M
Redwood City, CA-based production AI platform

Key1 Capital, Euclidean Capital, Hamilton Lane, Blumberg Capital, and Team8
FundGuard
$100M
New York, NY-based investment accounting platform

Bain Capital Ventures, Tribeca Venture Partners, Dundee VC, Expa and Bling Capital
Gather AI
$17M
Pittsburgh, PA-based provider of drone-powered warehouse inventory monitoring

EQT Ventures, Union Square Ventures, Nat Friedman & Daniel Gross, Metaplanet, Northwell Holdings, Comcast Ventures, and LG Technology Ventures
Hume AI
$50M
New York, NY-based developer of AI that understands human emotion

General Catalyst, .406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation
InStride Health
$30M
Boston, MA-based provider of pediatric treatments for anxiety and OCD

Greenbacker Capital
Lightshift
$100M
Arlington, VA-based developer of utility-scale energy storage solutions

Allegis Capital, Nationwide Ventures, Northwestern Mutual Future Ventures, Plug and Play Ventures, and Motley Fool Ventures
NewRetirement
$20M
Mill Valley, CA-based financial planning startup

Index Ventures, Maverick Ventures, TCV, YC, Thrive Capital, and BoxGroup
Nourish
$35M
New York, NY-based telenutrition startup

Sutter Hill Ventures, Snowflake, Capital One Ventures, and Madrona
Observe
$125M
San Mateo, CA-based SaaS observability startup focused on machine-generated data.

Atomico, Kinnevik, Octopus Ventures, YC, Eight Roads, and GreyMatter Capital
Pelago
$58M
New York, NY-based virtual substance abuse treatment startup

Canvas Ventures and Plural
PipeDreams
$25.5M
San Francisco, CA-based home services provider

Spark Capital, Insight Partners, Air Street Capital, AIX Ventures, Convergent Ventures, and Google chief scientist Jeff Dean
Profluent
$35M
Berkeley, CA-based protein design startup

Khosla Ventures
Skyflow
$30M
Palo Alto, CA-based data privacy vault

Paradigm, Robot Ventures, and Standard Crypto
Succinct
$43M
San Francisco, CA-based developer of zero-knowledge proof tools

Bessemer Venture Partners, The General Partnership, XYZ Ventures, and Pallas Ventures
TurbineOne
$15M
San Francisco, CA-based provider of government machine learning solutions

USV and Battery Ventures
Viam
$45M
New York, NY-based robotics startup

Index Ventures
Vizcom
$20M
San Francisco, CA-based industrial design startup

Sequoia Capital, Cyberstarts, Cerca Partners, and Penny Jar
Zafran
$30M
New York, NY-based security risk and mitigation startup

Viola Fintech, Intuit Ventures, Framework Venture Partners, and Export Development Canada
ZayZoon
$15M
Phoenix, AZ-based earned wage access provider for SMBs

Venture Capital Deals

Riverwood Capital, Silver Lake Waterman, and Advent International
BigID
$60M
New York, NY-based data security company

B Capital and USVP
Carlsmed
$52.5M
Carlsbad, CA-based developer of personalized spine surgery tech

F-Prime Capital, Forbion, Norwest Venture Partners, RiverVest Venture Partners, Red Tree Venture Capital, Abrdn, Ysios Capital, Longwood Fund, Eight Roads Ventures, and Pivotal Life Sciences
Engrail Therapeutics
$157M
San Diego, CA-based precision neuroscience startup

Jump Crypto, Pantera Capital, and Lightspeed Faction
Figure Markets
$60M
San Francisco, CA-based decentralized crypto exchange

Pritzker Group VC, Tribeca Venture Partners, Bessemer Venture Partners, Interplay Venture Capital, FJ Labs, HPA, Bridge Ventures, Correlation Ventures, Forefront Venture Partners, and Gaingels
Fuel Me
$18M
Chicago, IL-based fuel procurement platform

Premji Invest, General Catalyst, SV Angel, Memorial Hermann Health System, a16z, Cincinnati Children’s, WellSpan Health, and Universal Health Services
Hippocratic AI
$53M
Palo Alto, CA-based developer of an LLM for health care

Bain Capital Ventures, Khosla Ventures, First Round Capital, Box Group, Collaborative Fund, Quiet Capital, and Todd & Rahul’s Angel Fund
Loyal
$45M
San Francisco, CA-based developer of longevity drugs for dogs

Arch Venture Partners, OrbiMed, Fairmount, Fidelity, Point72, Farallon Capital Management, Boxer Capital, TCGX, Invus, Logos Capital, Moore Strategic Ventures, Blue Owl, Sanofi Ventures, Woodline Partners, Venrock, RTW Investments, and Alexandria Venture Investments
Mirador Therapeutics
$400M+
San Diego, CA-based developer of precision medicines for inflammatory and fibrotic diseases

Revolution Growth, Proof, Sentinel Global, Playground Global, Prologis Ventures, Bow Capital, Telstra Ventures, AME Cloud Ventures, and Schematic Ventures
Pandion
$41.5M
San Francisco, CA-based residential parcel delivery startup.

NEA, GV, Accel, Bain Capital Ventures, Forerunner, Alpine and Harmony, and Watar Partners
Wonder
$700M
New York, NY-based food delivery platform

April 3rd, 2024|Scherzer Deal Report|

The Scherzer Deal Report: March 18-22, 2024

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.

Fundraising for PE & VC Funds

Acre Venture Partners
$140M
Third fund

B Capital
$750M
Second VC opportunities fund
 
Comvest Partners
$881M
Sixth private equity fund

IVP
$1.6B
18th flagship VC fund

Silence
$35M
Debut fund

Zero Prime Ventures
$48M
Second fund

Private Equity Deals

Rubicon Technology Partners
Ascend Analytics
Undisclosed amount
Boulder, CO-based provider of energy transition analytics

KKR
Avantus
Undisclosed amount
Los Angeles, CA-based developer of utility-scale solar and solar-plus-storage projects

Allied Industrial Partners
Celebrity Coaches
Undisclosed amount
Tupelo, MI-based provider of transportation and logistics for the live events and entertainment sectors

Trinity Hunt Partners
Coker Group
Undisclosed amount
Alpharetta, GA-based health care advisory firm.

New Mountain Capital
Grant Thornton
Undisclosed amount
Chicago, IL-based auditing firm

Francisco Partners
Jama Software
Undisclosed amount
Portland, OR-based enterprise product development platform

Regal Healthcare Capital Partners
Lightfully
$50M
Thousand Oaks, CA-based behavioral health services provider

PSG
Packback
Undisclosed amount
Chicago, IL-based AI-enabled student writing and discussion platform

Waud Capital Partners
Senior Helpers
Undisclosed amount
Charlotte, NC-based provider of home care and wellness offerings for seniors

NewSpring
Shake Smart
Undisclosed amount
San Luis Obispo, CA-based fast casual protein shake chain.

Greater Sum Ventures
Strax
Undisclosed amount
Boca Raton, FL-based provider of sensor fusion and collaboration software

Platinum Equity
TAK Communications
Undisclosed amount
Sioux Falls, SD-based provider of communications and broadband infrastructure services

Venture Capital Deals

Riverwood Capital, Silver Lake Waterman, and Advent International
BigID
$60M
New York, NY-based data security company

B Capital and USVP
Carlsmed
$52.5M
Carlsbad, CA-based developer of personalized spine surgery tech

F-Prime Capital, Forbion, Norwest Venture Partners, RiverVest Venture Partners, Red Tree Venture Capital, Abrdn, Ysios Capital, Longwood Fund, Eight Roads Ventures, and Pivotal Life Sciences
Engrail Therapeutics
$157M
San Diego, CA-based precision neuroscience startup

Jump Crypto, Pantera Capital, and Lightspeed Faction
Figure Markets
$60M
San Francisco, CA-based decentralized crypto exchange

Pritzker Group VC, Tribeca Venture Partners, Bessemer Venture Partners, Interplay Venture Capital, FJ Labs, HPA, Bridge Ventures, Correlation Ventures, Forefront Venture Partners, and Gaingels
Fuel Me
$18M
Chicago, IL-based fuel procurement platform

Premji Invest, General Catalyst, SV Angel, Memorial Hermann Health System, a16z, Cincinnati Children’s, WellSpan Health, and Universal Health Services
Hippocratic AI
$53M
Palo Alto, CA-based developer of an LLM for health care

Bain Capital Ventures, Khosla Ventures, First Round Capital, Box Group, Collaborative Fund, Quiet Capital, and Todd & Rahul’s Angel Fund
Loyal
$45M
San Francisco, CA-based developer of longevity drugs for dogs

Arch Venture Partners, OrbiMed, Fairmount, Fidelity, Point72, Farallon Capital Management, Boxer Capital, TCGX, Invus, Logos Capital, Moore Strategic Ventures, Blue Owl, Sanofi Ventures, Woodline Partners, Venrock, RTW Investments, and Alexandria Venture Investments
Mirador Therapeutics
$400M+
San Diego, CA-based developer of precision medicines for inflammatory and fibrotic diseases

Revolution Growth, Proof, Sentinel Global, Playground Global, Prologis Ventures, Bow Capital, Telstra Ventures, AME Cloud Ventures, and Schematic Ventures
Pandion
$41.5M
San Francisco, CA-based residential parcel delivery startup.

NEA, GV, Accel, Bain Capital Ventures, Forerunner, Alpine and Harmony, and Watar Partners
Wonder
$700M
New York, NY-based food delivery platform

March 27th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: March 11-15, 2024

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.

Fundraising for PE & VC Funds

Ballistic Ventures
$360M
Second fund

Fulcrum Equity Partners
$372M
Fifth fund

Gauge Capital
$1.4B
Fourth fund

GoldenTree Asset Management
$1.35B
Private credit fund

KSL Capital Partners
$2B
Sixth fund

Private Equity Deals

Sixth Street Partners, KKR, Bayview, and Card
WorksGreenSky
Undisclosed amount
Atlanta, GA-based installment lending platform

Bharcap Partners
Insurvia
Undisclosed amount
Las Vegas, NV-based insurer focused on the Hispanic market.

MiddleGround Capital
L. S. Starretc
$113M
Athol, MA-based maker of precision tools and cutting equipment.

Patient Square Capital
NanoString
Undisclosed amount
Seattle, WA-based life sciences tool developer

Nordic Capital
One
Undisclosed amount
Folsom, CA-based digital payments platform for insurers HCAP

Partners
PAX Health
Undisclosed amount
San Diego, CA-based 
HCAP Partners acquired four behavioral health businesses in the Northeastern U.S. to form a new company.

TA Associates
PowerGem
Undisclosed amount
Clifton Park, NY-based provider of simulation software for the electric power industry

Frazier Healthcare Partners, NEA, and 22C Capital
RevSpring
Undisclosed amount
Nashville, TN-based provider of billing and communications services to health care and financial services companies.

Stride Consumer Partners
Serenity Kids
$52M
Austin, TX-based shelf-stable pouched baby food brand

Venture Capital Deals

Sixth Street Partners, KKR, Bayview, and CardWorks
GreenSky

Undisclosed amount
Atlanta, GA-based installment lending platform

Bharcap Partners
Insurvia
Undisclosed amount
Las Vegas, NV-based insurer focused on the Hispanic market.

MiddleGround Capital
L. S. Starretc
$113M
Athol, MA-based maker of precision tools and cutting equipment.

Patient Square Capital
NanoString
Undisclosed amount
Seattle, WA-based life sciences tool developer

Nordic Capital
One
Undisclosed amount
Folsom, CA-based digital payments platform for insurers HCAP

Partners
PAX Health
Undisclosed amount
San Diego, CA-based 
HCAP Partners acquired four behavioral health businesses in the Northeastern U.S. to form a new company.

TA Associates
PowerGem
Undisclosed amount
Clifton Park, NY-based provider of simulation software for the electric power industry

Frazier Healthcare Partners, NEA, and 22C Capital
RevSpring
Undisclosed amount
Nashville, TN-based provider of billing and communications services to health care and financial services companies.

Stride Consumer Partners
Serenity Kids
$52M
Austin, TX-based shelf-stable pouched baby food brand

March 20th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: March 4-8, 2024

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.

Fundraising for PE & VC Funds

Artemis
$36M
Second fund

Capitol Meridian Partners
$900M
Debut fund

Commerce Ventures
$150M
Fifth fund

EQT
$3.3B
Long-hold impact investing fund

Fathom Fund
$100M+
Debut fund

Prudence
$80M
Third fund

Riverarch Equity Partners
$1B
Fourth fund

Silas Capital
$150M
Second consumer growth fund

Private Equity Deals

L Catterton
AmaWaterways
Undisclosed amount
Calabasas, CA-based luxury river cruise line

Keystone Capital
Barkley and OKRP
Undisclosed amount
Merger of consumer marketing firms

AE Industrial Partners
Calca Solutions
Undisclosed amount
Lake Charles, LA-based maker of hydrazine

Charlesbank Capital Partners
EverDriven Technologies
Undisclosed amount
Greenwood Village, CO-based alternative student transportation platform

Carousel Capital
O.R. Colan Associates
Undisclosed amount
Charlotte, NC-based provider of right-of-way services and land management solutions

Lee Equity Partners
PCS Retirement
Undisclosed amount
Philadelphia, PA-based retirement plan recordkeeper

Luxium Solutions
PLX and PLX UK
Undisclosed amount
Deer Park, NY-based designer and manufacturer of optical products for defense and aerospace

Venture Capital Deals

Rockefeller Capital Management, Bain Capital Ventures, Signal
Fire, and Checkr
Argyle
$30M
New York, NY-based provider of income and employment data

IVP, Spark Capital, Greylock, South Park Commons, Lachy Groom, and Base Case
Baseten
$40M
San Francisco, CA-based machine learning infrastructure startup

Next Coast Ventures, S3 Ventures, and UPMC Enterprises
BrainCheck
$15M
Austin, TX-based cognitive health assessment startup

Centana Growth Partners
Cayosoft
$22.5M
Columbus, OH-based Microsoft Active Directory management firm

Delta-v Capital, AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation, and SVB
Claroty
$100M
New York, NY-based cyber-physical systems protection provider

Sapphire Ventures and Ansa Capital
Defense Unicorns
$35M
Colorado Springs, CO-based provider of continuous delivery software for national security systems.

CapitalG
DTEX Systems
$50M
San Jose, CA-based insider risk management company

ARCH Venture Partners, Fidelity Management & Research Company, GV, Cormorant Asset Management, RA Capital, General Catalyst, and Alex Gorsky
FogPharma
$145M
Cambridge, MA-based oncology startup

Fin Capital, Glilot Capital Partners, Group11, and TriNet
Healthee
$32M
New York, NY-based health benefits startup

Cerberus Capital Management
Maybell Quantum
$25M
Denver, CO-based quantum infrastructure developer

Base10 Partners, Digitalis Ventures, Conductive Ventures, and Uphonest Capital
Moego
$24M
Los Angeles, CA-based payments and scheduling software company for pet groomers

B Capital
Nalu Medical
$20M
Carlsbad, CA-based developer of miniature neurostimulation devices

Cota Capital, GM Ventures, and RTX Ventures
Neural Propulsion Systems
$17.5M
Pleasanton, CA-based software-defined radar startup

March Capital, General Catalyst, Insight Partners, E14 Fund, Crosslink Capital, Spring Rock Capital, Liquid 2 Ventures, Harmonic Growth Partners, and the American Dental Association
Overjet
$53.2M
Boston, MA-based dental provider support startup

Powerhouse Capital and the PGA Tour
Pro Shop
$19.25M
Golf media and commerce startup.

BlackRockRapid
SOS
$75M
New York, NY-based emergency response data platform

Ballistic Ventures and Artisanal Ventures
Reach Security
$20M
Sunnyvale, CA-based startup that helps companies get more value out of existing cybersecurity tools.

Octopus Ventures, QED, Mouro Capital, and Counterpart Ventures
Remofirst
$25M
San Francisco, CA-based HR tech startup

Lightspeed, Fin Capital, Naventures, Diagram, Banco Popular, and Mana Ventures
Synctera
$18.6M
San Francisco, CA-based banking-as-a-service startup

Base10 Partners, Anthos Capital, Tech Operators, and StoneMill Ventures
Todyl
$50M
Denver, CO-based modular cybersecurity startup

Upload Ventures, Quiet Capital, and Pear Ventures
Topsort
$20M
San Francisco, CA-based adtech startup

March 14th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: February 26-March 1, 2024

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.

Fundraising for PE & VC Funds

Chipotle
$50M
Corporate VC fund

COTU Ventures
$54M
Debut fund

Inspired Capital
$330M
Third fund

Ocean Avenue Capital Partners
$600M
Fifth fund

Renovus Capital Partners
$325M
Multi-asset continuation fund

Zacuna Ventures
$56M
Debut fund

Private Equity Deals

GTCR and Avryo Health
7to7 Dental
Undisclosed amount
San Antonio, TX-based dental service organization

Bow River Capital
Accelo
Undisclosed amount
Denver, CO-based provider of professional services automation software.

Nordic Capital
ActiveViam
Undisclosed amount
New York, NY-based provider of banking software

Thomas H. Lee Partners
Agiliti
c. $2.5B
Minneapolis, MN-based provider of health care tech management and services

Argosy Healthcare Partners
Command Medical Products
Undisclosed amount
Ormond Beach, FL-based manufacturer single-use medical devices

Thoma Bravo
Everbridge
$1.8B
Burlington, MA-based provider of critical event management and national public warning software

Summit Partners
Insurcomm
Undisclosed amount
Portland, ME-based provider of commercial and residential restoration services

Bridgepoint
RoC Skincarec
$500M
New York, NY-based anti-aging skincare brand

Blackstone
Rover
$2.3B
Seattle, WA-based pet walking and sitting marketplace

Leeds Equity Partners
TouchMath
Undisclosed amountColorado Springs, CO-based provider of supplemental math curriculum

Venture Capital Deals

Lightspeed, Redpoint Ventures, CVS Health Ventures, Spark Capital, USV, Bessemer Venture Partners, and Wittington Ventures
Abridge
$150M
Pittsburgh, PA-based clinical documentation startup

Founders Fund, Dragonfly, SevenX Ventures, Figment Capital, and Nomad Capital
Avail
$27M
Chicago, IL-based modular blockchain project that spun out of Polygon

Leavitt Equity Partners
B.well
$40M
Baltimore, MD-based patient engagement and health data platform

Bezos Expeditions, Nvidia, OpenAI, Parkway VC, Align Ventures, Intel Capital, and ARK Invest
Figure
$675M
Sunnyvale, CA-based maker of humanoid robots.

Nextech Invest, RA Capital Management, Rock Springs Capital, General Catalyst, Marshall Wace, Samsara Biocapital, Foresite Capital, Symbiosis, Catalio Capital Management, Sixty Degree Capital, and former J&J CEO Alex Gorsky
FogPharma
$145M
Cambridge, MA-based biotech

Kleiner Perkins, Lightspeed, Sequoia Capital, Coatue, Iconiq Growth, IVP, Latitude Capital, Adams Street, Capital One Ventures, Citi, Databricks Ventures, Workday Ventures, and General Catalyst
Glean
$200M
Palo Alto, CA-based AI enterprise search startup

Khosla Ventures, NEA, Kleiner Perkins, and Redalpine
Inkitt
$37M
New York, NY-based self-publishing platform

Lightspeed, Insight Partners, Point Nine, and Air Street Capital
Intenseye
$61M
New York, NY-based provider of workplace safety software

Alaska Permanent Fund, Cure Ventures, The Column Group, Euclidean Capital, and Saisei Ventures
Kenai Therapeutics
$82M
San Diego, CA-based developer of a dopamine neuron progenitor targeting Parkinson’s Disease

Polaris Partners, Arch Venture Partners, Exor Ventures, and Collaborative Fund
Matter Neuroscience
$26M
New York, NY-based mobile app for happiness

NTT, Bloom8, McWin Capital Partners, Mizuho Bank, Mitsubishi Shokuhin Co., JICN, and Yaskawa Electric
Oishii
$134M
Jersey City, NJ-based vertical grower of strawberries and tomatoes

Bond, Abstract Ventures, Michael Ovitz’s Crossbeam Ventures, SKIMS co-founders Emma and Jens Grede
Passes
$40M
Los Angeles, CA-based creator platform for super fans

GV, Main Street Advisors, Visionary Ventures, and YK BioVentures
Pelage Pharmaceuticals
$17M
Los Angeles, CA-based developer of hair loss treatments

Trousdale Ventures, UP.Partners, R7, Yamaha Motor Ventures
Range Energy
$23.5M
Mountain View, CA-based maker of battery-propelled trucking trailers

March 6th, 2024|Scherzer Deal Report|

The Scherzer Deal Report: February 19-23, 2024

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.

Fundraising for PE & VC Funds

Bluestein Ventures
Chicago, IL
$45M
Third fund

Crow Holdings
Dallas, TX
$3.1B
Tenth fund

Hack VC
New York, NY
$150M
Debut fund

ORI Capital
$260M
Second fund

Private Equity Deals

Kinzie Capital
Arctic Industries
Undisclosed amount
Miami, FL-based maker of walk-in coolers and freezers

L Squared Capital Partners
BTX Precision
Undisclosed amount
Roll up of ERA Industries, Gen-El-Mec, and i3DMFG formed into a precision components business unit

Merit Capital Partners and P2G Capital
Circuit Check
Undisclosed amount
Maple Grove, MN-based maker of test systems and fixtures for the electronics market

Harwood Private Equity
Crest Foods
Undisclosed amount
Ashton, IL-based provider of dairy stabilizers and dry food products

Aquiline Capital Partners and Level Equity
DocuPhase
Undisclosed amount
Tampa, FL-based provider of accounting and finance process automation software

HGGC
Rimkus Consulting Group
Undisclosed amount
Houston, TX-based engineering and technical consulting firm

ABB
SEAM Group
Undisclosed amount
Beachwood, OH-based provider of holistic advisory, training and technology solutions

Nautic Partners
SurfacePrep
Undisclosed amount
Byron Center, MI-based distributor of surface enhancement solutions

Levine Leichtman Capital Partners
USA Water
Undisclosed amount
Houston, TX-based water and wastewater systems operator

Venture Capital Deals

Decarbonization Partners, The Nature Conservancy, GS Futures, and NextEra Energy Resources
Antora Energy
$150M
Sunnyvale, CA-based thermal battery startup.

Define Ventures, Frist Cressey Ventures, and GreyMatter
Blackbird Health
$17M
Pittsburgh, PA-based youth mental health provider

Sutter Hill Ventures, Index Ventures, Altimeter Capital, and NewView Capital
Clumio
$75M
Santa Clara, CA-based cloud data backup and recovery company

Blue Cloud Ventures, FirstMark Capital, Spring Capital, and 3L
Crisp
$20M
New York, NY-based collaborative commerce platform

Tusk Ventures, Nathan Rodland, Dara Khosrowshahi, Bill Capuzzi, Roger Ferguson Jr., and Ryan Tedder
Dub
$17M
New York, NY-based copy-trading startup

TomEnterprise Private AB, Green Sands Equity, Yu Galaxy, Cambium Capital, and Lockheed Martin Ventures
Elve
$15M
Davis, CA-based provider of millimeter wave amplifier tech

Conductive Ventures
Empowerly
$15M
San Francisco, CA-based personalized college and career guidance company

General Catalyst, Thrive Capital, GV, Salesforce Ventures, Vast Ventures, Box Group, and Atento Capital
Fabric
$60M
New York, NY-based health care management software developer

Deerfield Management, Droia Ventures, Galapagos, DCVC Bio, MPM Capital, and RA Capital Management
Frontier Medicines
$80M
South San Francisco, CA-based proteomics company

Mayfield, General Catalyst, and Detroit Ventures
Highway 9 Networks
$25M
Santa Clara, CA-based enterprise mobile networking company

Nat Friedman, Daniel Gross, CapitalG, and Elad Gil
Magic.dev
$117M
San Francisco, CA-based startup building an AI software engineer.

Nexus Venture Partners, Battery Ventures, and Vertex Ventures US
Orkes
$20M
Cupertino, CA-based devops startup

Revolution Ventures, Maverick Ventures, GV, Female Founders Fund, 8VC, Alumni Ventures, and Great Oaks
Oula
$28M
New York, NY-based maternity care clinic

Kleiner Perkins, Initialized Capital, Y Combinator, Felicis Ventures, and Altos Ventures
PermitFlow
$31M
San Jose, CA-based construction permitting automation startup

MonCap
Pozitivf
$20M
San Antonio, TX-based fertility clinic network

AI Ventures, AXA Venture Partners, Eldridge, and Moderne Ventures
Qloo
$25M
New York, NY-based culture trends analytics startup

Celesta Capital, GreatPoint Ventures, HSBC, and Tasaru Mobility Investments
Recogni
$102M
San Jose, CA-based company getting into the AI chip business

Lightstone Ventures, Sante Ventures, Deerfield Management, Genesis Capital, and Arboretum Ventures
Reprieve Cardiovascular
$42M
Milford, MA-based medical device company

Forgepoint Capital, Singtel Innov8, LDVP, and 5G Open Innovation Lab
Synadia Communications
$25M
San Mateo, CA-based open-source cloud tech company

February 28th, 2024|Scherzer Deal Report|
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