The Scherzer Deal Report: October 30-November 3, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Abingworth
$356M
New clinical co-development, co-investment fund

American Industrial Partners
$5B
Eighth fund

Ares Management
$6.6B
Second fund focused on private asset-based credit.

Bee Partners
$50M
Fourth fund

Brookfield Asset Management
$6B
Third infrastructure debt fund

KPS Capital Partners
$9.7B
Sixth flagship buyout fund and second mid-cap fund

Saothair Capital Partners
$125M
Debut fund

Sofinnova Partners
$200M
First digital medicine VC fund

Trivest
$1.3B
Latest fund

Private Equity Deals

TPG
Angelo Gordon
$2.7B
New York, NY-based alternative investment manager

TT Capital Partners
Cantata Health Solutions
Undisclosed amount
Lakeway, TX-based behavioral health EHR company

Core Industrial Partners
Century Box
Undisclosed amount
Methuen, MA-based provider of folding cartons for store-brand food and consumer products.

York Private Equity Partners
Comprehensive Rehab Consultants
Undisclosed amount
Chicago, IL-based provider of behavioral health services to skilled nursing facilities

Blue Owl Capital
Cowen Healthcare Investments
Undisclosed amount
New York, NY-based fund with mid-to-late-stage investments into innovative private biopharmaceutical and healthcare companies.

Bernhard Capital Partners
Entergy
$484M
New Orleans, LA-based gas distribution business

Mainsail Partners
LinenMaster
Undisclosed amount
Vero Beach, FL-based provider of software for commercial laundries

Apollo
Modern Aviation
Undisclosed amount
New York, NY-based network of fixed-based operator (FBO) properties

Greenbelt Capital Partners
Saber Power Services
Undisclosed amount
Rosharon, TX-based grid infrastructure company

Percheron Capital
SafeBasements
Undisclosed amount
Paynesville, MN-based provider of foundation repair and basement waterproofing services

Madison Dearborn Partners
Shaw Development
Undisclosed amount
Bonita Springs, FL-based maker of sensors and fluid management systems for diesel exhaust fluid applications

KKR
Simon & Schuster
$1.62B
New York, NY-based book publisher

Palladium Equity Partners
Source Logistics
Undisclosed amount
City of Industry, CA-based provider of logistics services to the consumer goods sector, with a focus on Hispanic food and beverage brands

Graycliff Partners
Xcel NDT
Undisclosed amount
Longview, TX-based non-destructive testing services provider for critical infrastructure

Venture Capital Deals

Google, Salesforce Ventures, Zoom Ventures, Spark Capital, Sam Bankman-Fried
Anthropic
$2B
San Francisco, CA-based generative AI startup

Sofinnova Partners, Triatomic Capital, Shakti
Betteromics
$20M
Redwood City, CA-based life science data platform

Spark Capital, Sequoia Capital, Amplify Partners, Mantis VC, Banana Capital
Chainguard
$61M
Kirkland, WA-based provider of software supply chain security

TTV Capital, FPV, Better Tomorrow Ventures
Charlie
$16M
Los Angeles, CA-based banking startup for people aged 62 and over.

Insight Partners
Covera Health
$50M
New York, NY-based patient care analytics startup focused on reducing medical errors.

Prosperity7 Ventures
Cowbell
$25M
Palo Alto, CA-based provider of cyber insurance for SMEs

Polaris Partners, Coronet Ventures, Seeds Capital, ClavystBio, Invus, EDBI
Engine Biosciences
$27M
Singapore and Silicon Valley-based digital drug discovery platform focused on cancer

Questa Capital, Alta Partners, Highmark Ventures, 653 Investment Partners
Free Market Health
$20M
Pittsburgh, PA-based specialty pharmacy tech provider

RET Ventures
Funnel Leasing
$32M
Tampa, FL-based provider of renter management software

Updata Partners
FusionAuth
$65M
Denver, CO-based provider of authentication and user management software for developers

Samsung Ventures, Asan Foundation, SCL Group and Ignite Innovation
Genome Insight
$23M
San Diego, CA-based precision medicine startup focused on cancer and rare diseases.

MVM Partners, Amzak Healthcare, Endeavour Vision, Kaiser Permanente Ventures, Runway Growth Capital, Bain Capital
Gynesonics
$42.5M
Redwood City, CA-based developer of minimally invasive uterine fibroid procedures

IP Investors
Imagine Pharma
$32.5M
Pittsburgh, PA-based developer of oral erythropoietin and GLP-1 receptor agonists

Just Climate, Galvanize Climate Solutions, NGP, Alliance Resource Partners, Rockwell Automation, Riverstone Holdings, Chevron Technology Ventures, Cottonwood Technology Fund, Ajax Strategies
Infinitum
$185M
Austin, TX-based maker of industrial motors

Citi Ventures, FirstMark Capital, New York Life Ventures, Fireside Investments, RET Ventures, Zigg Capital, Ribbit Capital
Kasa Living
$70M
San Francisco, CA-based provider of flexible accommodations for travelers

MM Investment, Shinhan Venture Investment, Korea Development Bank, KB Investment, IM Capital, Premier Partners
MangoBoost
$55M
Bellevue, WA-based developer of energy efficiency software for data centers

Trinity Capital
Neuros Medical
$25M
Aliso Viejo, CA-based medical device company focused on chronic post-amputation pain

Allstate, Allianz X
NEXT Insurance
$26M
Palo Alto, CA-based small business insurer

Felicis, Norwest Venture Partners, B Capital, XYZ Venture Capital
Oro Labs
$34M
Palo Alto, CA-based procurement management startup

Arthur Ventures
Payroll Integrations
$20M
Encinitas, CA-based SaaS for building financial wellness tools.

USIT, Riot Ventures, ARK Invest, Disruptive, Snowpoint
Shield AI
$200M
San Diego, CA-based developer of drone tech for the military

Nvidia, Capricorn, Honda Motor, Cubit Capital, True Ventures, SIP Global Partners, Porsche Automobil Holding SE, Denso Global, General Motors Ventures, Maniv Mobility, Xerox Venture
Seurat
$99M
Wilmington, MA-based 3D metal printing startup

Material Impact, Xora Innovation, Cavallo Ventures, Rice Investment Group
Talus Renewables
$22M
Austin, TX-based developer of modular green ammonia systems

Synthesis Capital
Triplebar
$20M
Emeryville, CA-based developer of protein cultivation tech

Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, Chevron Technology Ventures, Science Applications International
Xage Security
$20M
Palo Alto, CA-based provider of network intrusion security software

|Scherzer Deal Report|

Reminder about New Requirements for California Employers When Considering Criminal History in Employment Decisions

What is this about:

The California Fair Chance Act requires employers to make a conditional offer of employment before considering an applicant’s criminal history. On October 1, 2023, new regulations by the California Civil Rights Department went into effect regarding how employers can use information about an applicant’s criminal history to rescind a conditional offer.

Effective date:

October 1, 2023

What this means:

Before a conditional offer can be rescinded, a California employer must perform an individualized assessment as to whether the applicant’s criminal history “has a direct and adverse relationship with the specific duties of the job that justify denying the applicant the position.” (California Code of Regulations Section 11017.1(c)(1)).

The specific requirements for the individualized assessment must include, at a minimum, consideration of the following factors: •     the nature and gravity of the offense or conduct;
•     the time that has passed since the offense or conduct occurred or the completion of the sentence;
•     the nature of the job held or sought.

If, after the individualized assessment, the employer makes a preliminary decision to revoke the conditional offer, the employer must notify the applicant in writing of the preliminary decision. The notice (which can be part of the pre-adverse action notice) must include all the following information:

•     the conviction(s) that were the basis for the preliminary decision;
•     a copy of the information relied on for the decision;
•     statement that the applicant or their representative has the right (but is not required) to respond before the decision becomes final, including challenging the information’s accuracy and submitting evidence of rehabilitation or mitigating circumstances;
•     the deadline to respond (no less than five business days after receipt of the notice, and email notice is considered received two business days after it is sent).

If the applicant timely notifies the employer in writing that additional time is needed to respond, the applicant must be given at least five additional business days to respond to the notice before the employer’s preliminary decision becomes final.

The new regulations also expressly prohibit employers from (1) mandating that the applicant respond to the notice or provide information or (2) refusing to consider any information provided by the applicant. The employer must notify the applicant in writing of any final decision to rescind the offer and include information regarding available procedures to challenge the decision and the right to contest the decision by filing a complaint with the California Civil Rights Department.

Why this matters:

Violations of the new regulations can result in damages for failure to consider the new criminal evaluation factors, including back pay, front pay, and hiring or reinstatement.

What else still matters:

City of Los Angeles Fair Chance Initiative for Hiring Ordinance (FCIHO)

•     The FCIHO applies broadly to businesses in the city that employ at least 10 people, with certain exceptions.
•     Employers may not ask about an applicant’s record until a conditional offer of employment has been extended.
•     After learning of an applicant’s record, employers must perform an individualized assessment and consider factors including (i) the age of the offense, (ii) the nature of the offense, and (iii) specific duties of the job sought. Written notice must be provided to applicants.
•     The ordinance provides aggrieved job applicants a private right of action.

City & County of San Francisco Fair Chance Ordinance (FCO)

•     The FCO applies to employers with 5 or more employees worldwide and all City contractors, subcontractors, and leaseholders.
•     Employers may not conduct a background check or ask about criminal records until after making a conditional offer of employment.
•     After learning of an applicant’s record, an employer shall conduct an individualized assessment, considering only (i) directly related convictions, (ii) the time that has elapsed since the conviction or unresolved arrest, and (iii) any evidence of inaccuracy or evidence of rehabilitation or other mitigating factors.
•     The employer must provide the applicant with a copy of the FCO Notice and background check report. The applicant has seven days to respond for the purpose of correcting the record, providing evidence of rehabilitation, or any other mitigating factors.
•     Applicants may bring a civil action against the employer or other person violating this FCO.

Best practices:

California state law, the FCIHO, and FCO all require employers to make a conditional offer of employment before considering an applicant’s criminal history. As a best practice, employers should consider using a two-step process when obtaining a background check report. The first step involves obtaining all non-criminal checks, such as a review of the applicant’s employment and educational history. The second step involves obtaining the applicant’s criminal record history after a conditional offer of employment is made.

Several other cities and Hawaii have enacted “ban-the-box” or “fair chance laws” that require a conditional offer of employment be made to applicants before a criminal background check can be made.

How SI can help:

Experienced in preparing background check reports using a two-step process, SI makes the process seamless. We can also provide sample adverse action notices and other guidance.

Disclaimer: This communication is for general informational purposes only and does not constitute legal advice. No recipient should act or refrain from acting based on any information provided here without advice from a qualified attorney licensed in the applicable jurisdiction.

|Compliance Corner, Employment Decisions|

The Scherzer Deal Report: October 23-27, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Astira Capital Partners
$675M
Debut fund

Flourish Ventures
$350M
New commitments to evergreen fund

Garuda Ventures
$31M
New seed and pre-seed firm that will back B2B-focused software startups

Graycliff Partners
$600M
Fifth midmarket PE fund

Gridiron Capital
$2.1B
Fifth fund

OrbiMed
4.9B
Ninth flagship healthcare VC fund, its fifth Asia-focused fund and its fourth royalties and credit opportunities fund

Pfingsten
$435M
Sixth fund

RevRoad Capital
$61M
Debut fund

Shield Capital
$186M
Debut fund

The House Fund
$115M
Third fund

Veriten
$85M
First private investment fund

Wellington Management
$150M
First early-stage VC fund

Private Equity Deals

Lovell Minnick Partners
ACU-Serve
Undisclosed amount
Akron, OH-based provider of revenue cycle management solutions for post-acute health care providers

PSG
AirWorks
Undisclosed amount
Boston, MA-based provider of geospatial data processing and analytics.

Stonepeak
Akumin
Undisclosed amount
Plantation, FL-baserd outsourced provider of diagnostic imaging services

Wind Point Partners
Central Moloney
Undisclosed amount
Pine Bluff, AR-based maker of infrastructure products for the U.S. electrical grid

Align Capital Partners
Counsel Press
Undisclosed amount
New York, NY-based legal process outsourcing provider focused on appellate services.

Nexus Capital Management
Dollar Shave Club
Undisclosed amount
Venice, CA-based razor club

Vista Equity Partners
EngageSmart
circa $4B
Braintree, MA-based provider of customer engagement and payments software

GCM Grosvenor
Excolere
Undisclosed amount
Los Angeles, CA-based private equity firm focused on the education and human capital management sectors

Pearl Street Equity
Famous Brands International
Undisclosed amount
Salt Lake City, UT-based parent company of Mrs. Fields and TCBY

Latticework Capital Management
Institutes of Health
Undisclosed amount
San Diego, CA-based multi-disciplinary workers’ compensation treatment provider

Sixth Street
Keyfactor
$500M
Independence, OH-based PKI and machine identity management company

Sun Capital Partners
Kovalus
Undisclosed amount
Wilmington, MA-based maker of filtration membranes

Ridgemont Equity Partners
National Power
Undisclosed amount
Raleigh, NC-based provider of power reliability and resilience solutions

Redwood Holdings
Newly Weds Foods
Undisclosed amount
Chicago, IL-based food distributor

Charlesbank Capital Partners
Petra
Undisclosed amount
San Francisco, CA-based fund administrator for private investment firms

WestView Capital Partners
Roko Labs
Undisclosed amount
New York, NY-based custom software development firm

Performant Capital
SquadUP
Undisclosed amount
Los Angeles, CA-based provider of ticketing, event management, and audience management solutions

Macquarie
SwyftFiber
$275M
Milan, TN-based provider of fiber internet services

Venture Capital Deals

Spark Capital
Abridge
$30M
Pittsburgh, PA-based clinical documentation platform

SYN Ventures, First In Ventures, Washington Harbour Partners, BankTech Ventures
Adlumin
$70M
Washington, DC-based managed detection and response platform

Craft Ventures, Valor Equity Partners
AgentSync
$50M
Denver, CO-based provider of compliance software for insurers

Bain Capital Ventures, YC, Khosla Ventures, Picus Capital
Aleph
$16.7M
New York, NY-based financial data repository

GGV Capital U.S., Illuminate Financial, Information Venture Partners, BDC Capital, Citi
Arteria AI
$30M
New York, NY-based developer of documentation infrastructure for institutional finance.

Decibel Partners, GV, Greylock, Intel Capital, Ascension Ventures, Four Rivers, Hamilton Lane
Censys
$50M
Ann Arbor, MI-based threat hunting and exposure management startup

Telstra Ventures, KPMG, SYN Ventures
Cranium
$25M
Short Hills, NJ-based AI security and trust software startup spun out of KPMG

L’Oréal
Debut
$40M
San Diego, CA-based developer of sustainable solutions for fragrance brands

Nexus Venture Partners, Uncorrelated Ventures
Fingerprint
$33M
Chicago, IL-based device intelligence API

Flare Capital Partners, LRVHealth, Health Velocity Capital, Martin Ventures, Optum Ventures
Greater Good
$20M
El Segundo, CA-based provider of primary care for senior

Drawdown Fund, Oshkosh Corp., Bridgestone
Hayden AI
$53M
Oakland, CA-based autonomous traffic management system.

Koch Real Estate Investments, Accomplice, Insight Partners, Related
HqO
$50M
Boston, MA-based real estate experience platform

Prysm Capital, Canapi Ventures, Insight Partners, Stripes, Sequoia Capital, Cyberstarts, Georgian
Island
$100M
Dallas, TX-based maker of an enterprise internet browser.

Brightwood Capital, Tamarix Capital Partners
Joor
$25M
New York, NY-based wholesale management platform

Aquiline Capital Partners, Motley Fool Ventures, REV Venture Partners, Key Venture Partners, Quick Set, Brentwood Investments
LegalMation
$15M
Los Angeles, CA-based developer of generative AI solutions for high-volume litigation

IMM Investment, Shinhan Venture Investment, Korea Development Bank, KB Investment, IM Capital, Premier Partners
MangoBoost
$55M
Seattle, WA and Seoul-based data center optimization startup

IA Capital Group, Cultivation Capital, Intuit Ventures, TruStage Ventures, Assurity Ventures
Matic
$17M
Columbus, OH-based embedded insurtech startup

Brevan Howard, Point 72, Jane Street
Membrane Labs
$20M
New York, NY-based cryptocurrency-focused trading and lending platform

AMD, KT, Smilegate Investment, and Forest Partners
Moreh
$22M
Santa Clara, CA And Seoul-based maker of software for creating and optimizing AI models

Polychain Capital, Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, Tess Ventures
Neon Machine
$20M
Seattle, WA-based developer of first-person shooter games

Lightspeed Venture Partners, General Catalyst, Valor Equity Partners
Nirvana Insurance
$57M
San Francisco, CA-based insurer of commercial truck fleets

Canapi Ventures, Geodesic Capital, Harmonic Capital, Radiate Capital, Cox Enterprises, General Catalyst, Index Ventures, Kleiner Perkins, YC, Avid Ventures
Nova Credit
$45M
New York, NY-based startup focused on immigrant credit history

Eclipse, GE HealthCare, Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, the University of Missouri
Nucleus RadioPharma
$56M
Rochester, MN-based supply chain organization for radiopharmaceuticals

Activate Capital, WIND Ventures, Avista Corp., Evergy Ventures, National Grid Partner, Congruent Ventures, Blue Bear Capital, HSBC
Omnidian
$25M
Seattle, WA-based provider of asset management software for commercial and residential solar,

Eclipse,Intel Capital, Riot Ventures, Counterpart Ventures, and Rally Ventures
Oxide Computer Co.
$44M
San Francisco, CA-based developer of on-premise cloud computers

MassMutual Ventures, Capital One Ventures
Prove Identity
$40M
New York, NY-based fraud reduction startup

NEA, Goldcrest, Floating Point
QuoteWell
$15M
Austin, TX-based commercial insurance wholesale brokerage

DCVC, Comcast Ventures, Ex/ante, Parameter Ventures, AI Grant
Reality Defender
$15M
New York, NY-based deepfake and AI-generated media detection platform

Maveron, Goldcrest Capital, Animo Ventures, Distributed Ventures
Sage
$15M
Melville, NY-based provider of elder care hardware and software

GV, Room40 Ventures, Venrock
Scope3
$20M
New York, NY-based decarbonization startup focused on the media and advertising industries

Insight Partners
SecureW2
$60M
Seattle, WA-based zero-trust passwordless security software provider

Cheyenne Ventures, GV, Dexcom Ventures, Samsung Next
Signos
$20M
Burlingame, CA-based metabolic health platform

Callais Capital, North Coast Ventures, Gullane Capital
Society Brands
$25M
Canton, OH-based tech-enabled consumer products company

Founders Fund, Khosla Ventures
Traba
$22M
Miami, FL-based light industrial staffing marketplace

Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global, Invus, Polaris Partners, Alexandria Venture Investments
Triveni Bio
$92M
Waltham, MA-based developer of antibodies for treating I&I disorders

OMX Ventures, Kleinmuntz Associates
VedaBio
$40M
San Diego, CA-based molecular detection startup

|Scherzer Deal Report|

The Scherzer Deal Report: October 16-20, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Astira Capital Partners
$675M
Debut fund

Graycliff Partners
$600M
Fifth midmarket PE fund

Gridiron Capital
$2.1B
Fifth fund

Pfingsten
$435M
Sixth fund

RevRoad Capital
$61M
Debut fund

Shield Capital
$186M
Debut fund

Veriten
$85M
First private investment fund

Private Equity Deals

Citation Capital
Cibo Vita
Undisclosed amount
Totowa, NJ-based maker of healthy snack foods

KKR
Circor
$1.6B
Burlington, MA-based maker of industrial flow control products

Hull Street Energy
Greenskies Clean Focus
Undisclosed amount
North Haven, CT-based solar developer and operator

Summit Partners, Enhanced Healthcare Partners
Hallmark Health Care Solutions
Undisclosed amount
Hauppauge, NY-based provider of health care workforce management solutions

Arcline
Hartzell Aviation
Undisclosed amount
Piqua, OH-based maker of aircraft subsystems and aftermarket partners

Berkshire Partners
PDQ
Undisclosed amount
Salt Lake City, UT-based provider of IT asset management software

Providence Equity Partners
Populous
Undisclosed amount
Kansas City, MO-based sports and entertainment venue architectural and design firm

Varsity Healthcare Partners
VetEvolve
Undisclosed amount
Richmond, VA-based veterinary platform

Venture Capital Deals

Drawdown Fund, Oshkosh Corp., Bridgestone
Hayden AI
$53M
Oakland, CA-based autonomous traffic management system

Nexus Venture Partners, Uncorrelated Ventures
Fingerprint
$33M
Chicago, IL-based device intelligence API

Brightwood Capital, Tamarix Capital Partners
Joor
$25M
New York, NY-based wholesale management platform

IA Capital Group, Cultivation Capital, Intuit Ventures, TruStage Ventures, Assurity Ventures
Matic
$17M
Columbus, OH-based embedded insurtech startup

Brevan Howard, Point 72, Jane Street
Membrane Labs
$20M
New York, NY-based cryptocurrency-focused trading and lending platform

Lightspeed Venture Partners, General Catalyst, Valor Equity Partners
Nirvana Insurance
$57M
San Francisco, CA-based insurer of commercial truck fleets

MassMutual Ventures, Capital One Ventures
Prove Identity
$40M
New York, NY-based fraud reduction startup

DCVC, Comcast Ventures, Ex/ante, Parameter Ventures, AI Grant
Reality Defender
$15M
New York, NY-based deepfake and AI-generated media detection platform

GV, Room40 Ventures, Venrock
Scope3
$20M
New York, NY-based decarbonization startup focused on the media and advertising industries.

Insight Partners
SecureW2
$60M
Seattle, WA-based zero-trust passwordless security software provider

Callais Capital, North Coast Ventures, Gullane Capital
Society Brands
$25M
Canton, OH-based tech-enabled consumer products company

OMX Ventures, Kleinmuntz Associates
VedaBio
$40M
San Diego, CA-based molecular detection startup

|Scherzer Deal Report|

The Scherzer Deal Report: October 9-13, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

ABS Capital
Undisclosed amount
Continuation fund

AEA Investors
$1.3B
Fifth small-cap private equity fund

BV Investment Partners
Undisclosed amount
Continuation fund

CIVC Partners
$825M
Seventh fund

Grand Ventures
$50M
Second fund

Incline Equity Partners
$1.9B
Sixth fund

SYN Ventures
$75M
Dedicated seed fund

Private Equity Deals

TPG Rise Climate
AmSpec
Undisclosed amount
Cranbury, NJ-based testing, inspection and certification company focused on the energy, commodities and fuel markets

QHP Capital
Applied StemCell
Undisclosed amount
Milpitas, CA-based cell and gene therapy contract development and manufacturing organization

Apax Partners
Bazooka Candy Brands
$700M
New York, NY-based bubble gum and candy brand

MGT Partners
CM Select Insurance
Undisclosed amount
Greenwood, CO-based insurer for U.S. religious organizations

Northleaf Capital Partners
EVPassport
Undisclosed amount
Los Angeles, CA-based EV charging company

SK Capital
J&K Ingredients
Undisclosed amount
Paterson, NJ-based maker of natural and organic food and beverage ingredients

TA Associates, OceanSound Partners
Kinective
Undisclosed amount
Phoenix, AZ-based provider of workflow and analytics software for the banking sector

Branford Castle Partners
Marine Floats
Undisclosed amount
Tacoma, WA-based specialty marine contractor

Bonaccord Capital Partners
Revelstoke Capital Partners
Undisclosed amount
Denver, CO-based health care PE firm

Huron Capital
RK Electric
Undisclosed amount
Fremont, CA-based electrical contractor

Fulcrum Equity Partners, Leavitt Equity Partners, Harpeth Capital
SurgNet
Undisclosed amount
Brentwood, TN-based ambulatory surgery center operator

Venture Capital Deals

SBI Group
Alpaca
$15M
San Mateo, CA-based developer of a stock-trading

APIGood Growth Capital, YC, RH Capital, Astia Fund, Adaptive Capital Partners, Gore Range Capital, LongeVC, The Helm, VU Venture Partners, FemHealth Ventures
AOA Dx
$17M
Boulder, CO-based developer of a detection test for ovarian cancer

Foundation Capital, Infinity Ventures
Canopy Servicing
$15.2M
Claymont, DE-based loan management platform

Atlantic Health System, Banner Health, Hawai’i Pacific Health, Inova Health System, Lehigh Valley Health Network, Memorial Hermann Health System, Nebraska Medicine, Novant Health, Ochsner Health, WellSpan Health, Transformation Capital
Capital Rx
$50M
New York, NY-based pharmacy benefit manager and pharmacy benefit administrator

Fin Capital, TTV Capital, Bessemer Venture Partners, Commerce Ventures, Montage Ventures, Alloy Labs
Carefull
$16.5M
New York, NY-based startup that helps banks protect older customers from fraud

Menlo Ventures, TQ Ventures, Databricks Ventures, Bain Capital Ventures
Cleanlab
$25M
San Francisco, CA-based automated data curation startup

Eclipse Ventures, Forerunner Ventures, Bling Capital
Dutch
$18M
Oakland , CA-based pet telehealth platform

BMW i Ventures, Intel Capital, GS Futures, SignalFire, Hillsven, Pelion Ventures, Holman, Ericsson, Goodyear Ventures, PICUS Capital, Thursday Ventures
Formant
$21M
San Francisco, CA-based robotics data and operations platform

Bosch Ventures, In-Q-Tel, Raptor Ventures, Schooner Capital
JetCool
$17M
Littleton, MA-based provider of liquid cooling solutions for data centers

NEA, Khosla Ventures
Mojo Vision
$21.1M
Saratoga, CA-based developer of micro-LED display tech

Foundry Group, Escalate Capital Partners, Bonfire Ventures, Daher Capital, Navigate Ventures, Attento Capital, OpenView, 500 Global, SOSV, Jumpstart Capital
Optimize Health
$18M
Seattle, WA-based provider of remote patient monitoring software

Prysm Capital, NEA, Javelin Venture Partners, Christian McCaffrey
Pair Eyewear
$75M
New York, NY-based provider of customizable eyewear for kids and adults

Nuveen
Perch
$30
M Boston, MA-based community solar services provider

Insight Partners, SignalFire, JPMorgan, Singtel Innov8, Databricks Ventures, Dallas Venture Capital
Prophecy
$35M
Palo Alto, CA-based low-code data engineering platform for enterprise data teams

Caffeinated Capital, 8VC, Andreessen Horowitz, Lightspeed Venture Partners, Point72 Ventures, Silent Ventures, Overmatch Ventures, Ensemble VC, Cubit Capital, the U.S. Innovative Technology Fund
Saronic
$55M
Austin, TX-based developer of autonomous ships

Eight Roads Ventures, AB Private Credit Investors, AllianceBernstein, TLV Partners, Magma Ventures, Qualcomm Ventures
ScyllaDB
$43M
Palo Alto, CA-based bid data database startup

Baillie Gifford, Fidelity
Shine
$70M
Janesville, WI-based nuclear fusion developer

AlleyCorp, Two Bear Capital, Nexus Venture Partners, Big Pi Ventures, Intel Capital, Uncorrelated, Lockheed Martin Ventures, Amgen Ventures, NTT Docomo Ventures, Verizon Ventures, S Ventures, LDV Partners, Scale Asia Ventures
TileDB
$34M
Cambridge, MA-based data management startup

|Scherzer Deal Report|

The Scherzer Deal Report: October 2-6, 2023

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

7wire Ventures
$217M
New growth and opportunities fund

At One Ventures
$375M
Second fund

Brookfield
$12B
Sixth flagship private equity fund.

FemHealth Ventures
$32M
Debut fund

Greylock
$1B
Seventeenth flagship fund

Kelso & Co.
$3.25B
Eleventh midmarket buyout fund

King Street
$2.3B
Second drawdown fund

Section 32
$525M
Fifth fund

Viewpoint
$150M
First fund to invest in insurance tech startups

Private Equity Deals

Arlington Capital Partners
Avenu Insights & Analytics
Undisclosed amount
Centreville, VA-based provider of revenue and ops software for state and local governments

Advent International, Warburg Pincus
Baxter International
$4.25B
Deerfield, IL-based pharma contract manufacturing business

Genstar Capital
Cetera Financial Group
Undisclosed amount
San Diego, CA-based financial advisory firm

CCMP Growth
Decks & Docks
Undisclosed amount
Clearwater, FL-based distributor of marine construction and outdoor living supplies

Warburg Pincus, Brookfield
Everise
Undisclosed amount
Plantation, FL-based healthcare services outsourcing company

VSS Capital Partners
Eximia Research Network
Undisclosed amount
Dover, DE-based clinical trial research company

SK Capital Partners
Milestone Environmental Services
Undisclosed amount
Houston, TX-based environmental services and carbon management company

Unity Partners|
Poolie
Undisclosed amount
Austin, TX-based pool services business

Ascend Capital Partners
Seoul Medical Group
Undisclosed amount
Long Beach, CA-based, physician-run Independent Physician Association

Vista Equity Partners
TRG Screen
Undisclosed amount
New York, NY-based provider of subscription spend management software

Venture Capital Deals

Energize Capital, D.E. Shaw, Veriten, Ørsted, HSBC Asset Management
Amperon
$20M
Houston, TX-based grid forecasting startup

a16z, Amex Ventures, Bolt, Union Square Ventures, Shine, Variant, Quality Branded, Rustic Canyon Family, Souvla, Brooks Reitz
Blackbird Labs
$24M
New York, NY-based restaurant rewards startups

Town Hall Ventures, Heritage Group
Connections Health Solutions
$28M
Phoenix, AZ-based behavioral health crisis care provider

Norwest Venture Partners
Diana Health
$34M
New York, NY-based network of women’s health practices

Fortescue, Fifth Wall, Energy Impact Partners, BP Ventures, Oman Investment Authority, Temasek, Microsoft’s Climate Innovation Fund, United Airlines Sustainable Flight Fund
Electric Hydrogen
$380M
Natick, MA-based clean hydrogen company

Greylock, Social Leverage
Frec
$26.4M
San Francisco, CA-based automated investing startup

Spark Capital
Headway
$125M
New York, NY-based behavioral therapist network

Invus
Health Data Analytics Institute
$31M
Dedham, MA-based maker of clinical decision support software for health systems

Veradigm
Holmusk
$30M
New York, NY-based behavioral health real-world evidence company

Third Prime
Kafene
$12.6M
New York, NY-based point-of-sale financing platform

JPMorgan Growth Equity Partners, Index Ventures
Loop
$35M
Chicago, IL-based logistics audit and payments startup

Bedrock Capital
Mach Industries
$79M
Austin, TX-based defense tech startup

Nvidia’s VC arm, Innovation Endeavors
Machina Labs
$32M
Chatsworth, CA-based manufacturing robotics startup

Madrona, NEA, Tola Capital, Strike Capital
Pulumi
$41M
Seattle, WA-based infrastructure-as-code platform

Altai Ventures, Bain Capital Ventures, 8VC, Neuberger Berman, Convex Group, Axis Capital, Anthemis Ventures, Arch Capital Group
Reserv
$20M
New York, NY-based AI-driven insurance claims processing company

Blackstone, Insight Partners, SignalFire, Bloomberg Beta
Stampli
$61M
Mountain View, CA-based accounts payable automation startup

Industrious Ventures, University of Michigan, Sparta Group, Long Journey, Breakthrough Energy, YC, Point72 Ventures, NFX, MaC Ventures, Toyota Ventures, In-Q-Tel
Stoke Space
$100M
Reston, VA-based maker of reusable rockets

|Scherzer Deal Report|

The Scherzer Deal Report: September 25-29, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Anzu Partners
$200M
Third fund

Fuse
$250M
Second fund

Industry Ventures
$1.71B
Tenth VC secondaries fund ($1.45B) and second fund focused on direct investments in software companies ($260M)

Mercury Fund
$160M
Fifth fund

Mythos Ventures
$14M
Debut fund

T-Mobile
Undisclosed amount
Second corporate VC fund

Private Equity Deals

Platinum Equity
Cook & Boardman
Undisclosed amount
Winston-Salem, NC-based commercial door distributor

Brightstar Capital Partners
Douglas
Undisclosed amount
Liberty, MO-based provider of products and packaging for the agriculture production and structural pest control markets

Arlington Capital Partners
Exostar
Undisclosed amount
Herndon, VA-based provider of secure collaboration and risk management solutions

Left Lane Capital, Ares Management, Lindsey Vonn, Candace Parker, Jordyn Poulter, Amy Schumer, Amy Griffin, Linda Henry, Jayson Tatum, Chelsea Handler, Boardroom Sports Holdings
League One Volleyball
$35M
Hermosa Beach, CA-based youth volleyball group

Novo Holdings, Gurnet Point
Paratek Pharma
$462M
Boston, MA-based antibiotics maker

Capstreet Planet
Bids
Undisclosed amount
Woodland Hills, CA-based provider of e-procurement SaaS

Silver Oak Services Partners
Quality Liaison Services
Undisclosed amount
Hendersonville, TN-based provider of representation and quality assurance services for OEMs and suppliers

Susquehanna Private Capital
U.S. Compliance
Undisclosed amount
Excelsior, MN-based provider of EHS compliance management solutions to facilities

Venture Capital Deals

F-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital, Labcorp, RA Capital Management
Adela
$48M
Branford, CT-based blood testing platform for minimal residual disease monitoring

Bond, CapitalG, Viking Global, BAM Elevate, Goldman Sachs
AlphaSense
$150M
New York, NY-based market intelligence and search platform

Eclipse, Andreessen Horowitz, Lowercarbon Capital, Abstract Ventures
Arc
$70M
San Francisco, CA-based electric boat maker

Fulcrum Equity Partners, Engage
Canvs AI
$15M
New York, NY-based consumer and employee feedback analytics platform

Menlo Ventures, Reach Capital, General Catalyst, BoxGroup, Able Partners
Cartwheel
$20M
Cambridge, MA-based telemental health startup focused on schools

Lightspeed Venture Partners, Bessemer Venture Partners, Cota Capital, Khosla Ventures, MassMutual Ventures, Moneta VC
Farther
$31M
New York, NY-based wealth management startup

Flagship Pioneering, Pictet, Partners Investment, M&G Investments
Harbinger Health
$140M
Cambridge, MA-based developer of cancer screening and detection technologies

Andreessen Horowitz
IYK
$16.8M
San Francisco, CA-based developer of NFT infrastructure for fashion brands

Foxconn, Alltek, Horizon Ventures, Liteon Technology, Adata, Palpilot
Kneron
$49M
San Diego, CA and Taipei-based chipmaker for autonomous vehicles

Lobby Capital, SignalFire, Bloomberg Beta
Kolena
$15M
San Francisco, CA-based provider of AI model testing tools

Forgepoint Capital
Lumu
$24M
Doral, FL-based enterprise cybersecurity startup focused on real-time compromises

GV, Felicis, Semper Virens, Icon, 25M, Operator Collective
Midi Health
$25M
Los Altos, CA-based provider of menopause health care solutions

Nexus Venture Partners, Andreessen Horowitz
Nx
$16M
Gilbert, AZ-based maker of developer tools

Fuse, Curql, BankTech Ventures, EJF Capital, the Btech Consortium
PortX
$16.5M
Seattle, WA-based provider of financial services infrastructure for banks

776, Basis Set Ventures, PearVC, Kleiner Perkins, Day One Ventures, Hustle Fund, Caffeinated Capital, Wischoff Ventures
Series
$25M
San Francisco, CA-based enterprise OS for automating business and finance stacks

MUFG, Kanematsu Corp., Tokio Marine & Nichido, Coatue, General Atlantic, Moore Strategic Ventures, BlackRock, AE Industrial Partners
Sierra Space
$290M
Louisville, CO-based commercial space transportation and infrastructure company

Union Square Ventures, Sam Altman, Monashees, YC
Slope
$30M
San Francisco, CA-based B2B payments platform

ABS Capital, Chase Impact Finance & Advisory, Lumos Capital Group, Akkadian Ventures, Spring Tide Capital, Firework Ventures
Transfr
$40M
New York, NY-based provider of VR-based skills training solutions

|Scherzer Deal Report|

The Scherzer Deal Report: September 18-22, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Blockchain Capital
$580M
Sixth early-stage fund and first opportunity fund

Blue Sea Capital
$618M
Third fund

Global Frontier Technology Ventures
$140M
Debut fund

Goldman Sachs
$14.2B
Vintage IX secondaries fund

Humble Growth
$312M
Debut fund

Lowercarbon Capital
$550M
Two funds: one pre-seed and seed-stage deals and an opportunities fund

Private Equity Deals

Carlyle
Captrust
Undisclosed amount
Raleigh, NC-based investment research and advisory firm

Gemspring
ClearCompany
Undisclosed amount
Boston, MA-based provider of human capital management software

Lindsay Goldberg
Kleinfelder
Undisclosed amount
San Diego, CA-based engineering and construction management firm.

Aria Growth Partners, Valor Equity, Invest Eco, Touch Capital
LesserEvil
Undisclosed amount
Danbury, CT-based maker of organic popcorn and salty snacks

Lovell Minnick Partners
Net at Work
Undisclosed amount
New York, NY-based provider of IT solutions to SMBs

A&M Capital Partners
VTG
Undisclosed amount
Chantilly, VA-based provider of digital transformation solutions to the defense and intelligence communities

Venture Capital Deals

Arch Venture Partners
AIRNA
$30M
Norwood, MA-based developer of RNA editing therapeutics

Veeam
Alcion
$21M
Santa Clara, CA-based data management startup

A16z crypto, Laser Digital Ventures, Not Boring Capital, Robot Ventures and Alchemy Ventures
Bastion
$25M
New York, NY-based web3 infrastructure startup

Georgian, Entrée Capital, NFX
Darrow
$35M
New York, NY-based data engine for class action litigation

Canaan Partners, True Ventures, DNX Ventures, Next Coast Venture, Northwestern Medicine Innovation
Diligent Robotics
$25M
Austin, TX-based developer of robotic automation for healthcare

WestCap
Dragos
$74M
Hanover, MD-based cybersecurity startup focused on industrial controls

Florida Funders, Home Depot Ventures, MS&AD Ventures, Company on Ventures
Flex
$20M
Miami, FL-based credit and finance management startup

HealthQuest Capital, Flare Capital Partners, McKesson Ventures
Inbound Health
$30M
Minneapolis, MN-based provider at-home skilled nursing solutions

Redpoint Ventures, Benchmark, NewView Capital, WiL, Menlo Ventures
Levelpath
$30M
San Francisco, CA-based procurement startup

Newpath Partners, Arch Venture Partners
Magnet Biomedicine
$50M
Cambridge, MA-based biotech focused on molecular glues

SoftBank
Mapbox
$280M
Washington, DC-based location data platform

Money Forward, Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Arash Ferdowsi, Valon Capital, Matt Ocko, Florida Funders, Altair Capital, Network VC, Gokul Rajaram
Mesh
$22M
New York, NY-based fintech OS focused on digital asset transfers and account aggregation

Felicis, Andreessen Horowitz, Madrona, Amplify Partners, Altimeter, Redpoint Ventures, Zero Prime
MotherDuck
$52.5M
Seattle, WA-based data analytics platform

Solasta Ventures, Bioluminescence Ventures, OrbiMed Advisors, AyurMaya, Leaps by Bayer, Vida Ventures, MPM Capital, Pfizer Ventures, EcoR1 Capital, Sanofi Ventures, Amgen Ventures, Osage University Partners
ReCode Therapeutics
$50M
Menlo Park, CA-based genetic medicines developer

Altimeter Capital, Andreessen Horowitz, Zetta Venture Partners
Tabular
$26M
San Jose, CA-based data automation platform

Edison Partners, LiveOak Venture Partners, SJF Ventures
Take Command
$25M
Dallas, TX-based provider of employee health benefits SaaS

Arboretum Ventures, InVivium Capital, Bluestem Capital, Endeavour Vision, Baird Capital, Cultivate(MD) Capital Funds, PrairieGold Venture Partners
Virtual Incision
$30M
Lincoln, NE-based developer of miniaturized robots for laparoscopic surgery

Mercato Partners, Health Catalyst, Intermountain Ventures, SemperVirens, 7wireVentures, Human Capital, Distributed Ventures
Vivante Health
$31M
Houston, TX-based digital medicine startup focused on gut health

Iconiq, WndrCo, Balderton Capital, Insight Partners, Aspect Ventures
Writer
$100M
San Francisco, CA-based generative AI platform for enterprises

Nava Ventures, XYZ Ventures, Bloomberg Beta, Mango Capital, Essence VC
Yurts
$16M
San Francisco, CA-based generative AI startup focused on enterprise knowledge management.

|Scherzer Deal Report|

The Scherzer Deal Report: September 11-15, 2023

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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

TA Associates, Insight Partners, OA Private Capital
Advantive
Undisclosed amount
Tampa, FL-based provider of software for specialty manufacturing and distribution businesses

Arax Investment Partners
Ashton Thomas
Undisclosed amount
Scottsdale, AZ-based financial advisory

Bregal Sagemount
Bradford Airport Logistics
Undisclosed amount
Houston, TX-based provider of logistics services to airports and other transportation

Comvest Partners
ClearOne Advantage
Undisclosed amount
Baltimore, MD-based debt resolution services provider

TPG Growth
Denodo
$336M
Palo Alto, CA-based provider of data virtualization solutions

Cimarron Healthcare Capital
Forward Health
Undisclosed amount
Owings Mills, MD-based provider of solutions for patients with obstructive sleep apnea

GTCR
Foundation Source
Undisclosed amount
Fairfield, CT-based provider of foundation management services

General Atlantic
GoodVets
Undisclosed amount
Chicago, IL-based veterinary care platform

CenterOak Partners
Guardian Access Solutions
Undisclosed amount
Nashville, TN-based provider of maintenance, repair, and installation services for exterior access control equipment

Clearlake, Charlesbank Capital Partners and Fortress
Learfield
Undisclosed amount
Plano, TX-based college sports marketing and content firm

North Branch Capital
Starc Systems
Undisclosed amount
Brunswick, ME-based provider of temporary containment solutions for occupied renovations

Kimmeridge
US Light Energy
$15M
Latham, NY-based distributed generation solar developer

PSG
Versatile Credit
Undisclosed amount
Mechanicsburg, PA-based provider of points-of-sale loan facilitation software

GCM Grosvenor
Vesper Energy
Undisclosed amount
Irving, TX-based operator of utility-scale renewable energy assets

Private Equity Deals

Avalon BioVentures, Catalys Pacific, MPM BioImpact, Johnson & Johnson Innovation, Alexandria Venture Investments
Arialys Therapeutics
$58M
La Jolla, CA-based developer of therapies for autoimmune neuropsychiatry

Georgian
Beam Benefits
$40M
Columbus, OH-based medical benefits company

Rethink Impact, Samsung Next, Andreessen Horowitz, Khosla Ventures, GingerBread Capital, Primetime Partners
Bold
$17M
Los Angeles, CA-based provider of virtual exercise programs for Medicare Advantage members

Arthur Ventures
CertifID
$20M
Austin, TX-based startup that products against wire fraud in real estate transactions

UOB Venture Management, UniPresident, Aozora Bank, Vietnam Investments Group, Development Bank of Japan, Gradient Ventures, Monk’s Hill Ventures, Global Ventures
ELSA
$22.5M
Los Gatos, CA-based English language learning platform

Atreides Management, Sutter Hill Ventures, Nvidia, IAG Capital Partners, Liberty Global Ventures, Valor Equity Partners, Infinitum Partners, Alumni Ventures
Enfabrica
$125M
Mountain View, CA-based AI chip startup

Seismic Capital
Evolectric
$15M
Long Beach, CA-based EV tech company

Celesta, Cambium Capital, Alpha Intelligence Capital
Exostellar
$15M
Ithaca, NY-based cloud spend optimization platform

Prime Movers Lab, Stellantis, FedEx, Honeywell, The Walbridge Group
Lyten
$200M
San Jose, CA-based developer of a new form of graphene for battery manufacturing

Waed Ventures, Bold Capital, Kholsa Ventures
Mighty Buildings
$52M
Oakland, CA-based maker of 3D-printed homes

Touring Capital, Grupo Carso, General Atlantic, Celesta Capital, Chiratae Ventures
Pixis
$85M
San Francisco, CA-based marketing platform

Galvanize Climate Solutions, Carica Sustainable Investments, Sabancı Climate Ventures, Aramco Ventures, JetBlue Ventures, Fintop Capital, Builders VC, Sompo Holdings
Pulsora
$20M
San Francisco, CA-based ESG and carbon software startup

Cencora Ventures, Echo Health Ventures, Blue Venture Fund, UPMC Enterprises, Industry Ventures
Sempre Health
$20M
San Francisco, CA-based provider of health care pricing tools

KCK MedTech
Sonex Health
$40M
Eagan, MN-based maker of ultrasound-guided orthopedic therapies

Playtech
The Sporting News
$15M
Charlotte, NC-based sports media and sports publisher

WestCap, Cowles Co., Fortson VC, Voyager Capital, Kick-Start Seed Fund, WTB Financial Corp.
Treasury4
$20M
Spokane, WA-based treasury analytics platform

Vista Credit Partners
VideoAmp
$150M
Los Angeles, CA-based media measurement firm