Startups Raise Over $3.47B, Investors Raise $1.086B for New Funds, and $24.051B in M&A

Private Equity

Apollo Global Management offered to buy Paramount Global’s film and TV studio for $11 billion.

Heritage Provider Network is exploring a potential sale for at least $7 billion.

Lonza Group agreed to buy a US manufacturing facility from Roche for $1.2 billion.

An affiliate of HIG Capital agreed to acquire Alight’s professional services and payroll outsourcing business for up to $1.2 billion.

KKR and EIG will invest at least $1 billion into Avantus, a US solar developer, with KKR becoming the majority owner.

Montagu Private Equity will acquire Johnson Matthey’s medical device components business for $700 million in cash.

TPG is in exclusive talks to buy the manufactured housing business of Canadian Apartment Properties REIT for over $519 million.

Actis is in talks to buy Swiftnet from South Africa’s Telkom, with an estimated valuation of $332 million.

Unilever is considering selling its majority stake in Qinyuan Group, potentially valuing the Chinese company at ~$300 million.

MGM Resorts International is exploring the sale of its casino operations at Ohio’s Northfield Park and Springfield, Massachusetts.

Linden Capital Partners is exploring strategic options, including the sale of a minority stake.

Access Bank plans to acquire National Bank of Kenya from KCB Group.

Venture Capital

Clasp Therapeutics: A startup developing advanced cancer treatments through precision medicines, based in Cambridge, MA, and Rockville, MD. Investors: Catalio Capital Management, Third Rock Ventures, Novo Holdings, Vivo Capital, Cure Ventures, Blackbird BioVentures, Pictet Alternative Advisors, American Cancer Society’s Bright Edge, and Alexandria Venture Investments.

Greenly: A provider of carbon accounting software based in Paris, France. Investors: Fidelity International Strategic Ventures, Benhamou Global Ventures, Energy Impact Partners, Hewlett Packard Enterprise, HSBC, Move Capital, and XAnge.

Pocket FM: An audio entertainment platform based in Gurgaon, India. Investors: Lightspeed Venture Partners and Stepstone Group.

Wonder: A restaurant delivery startup based in New York, NY. Investors: New Enterprise Associates, GV, and Dragoneer Investment Group.

Candela: An electric boat maker based in Stockholm, Sweden. Investors: Groupe Beneteau, EQT Ventures, Ocean Zero, and Kan Dela AB.

Cure51: A startup using data analysis to improve cancer outcomes, based in Paris, France. Investors: Sofinnova Partners, Hitachi Ventures, and Life Extension Ventures.

Coterie: A startup simplifying insurance buying and selling for small businesses, based in Cincinnati, OH. Investors: Hiscox, Intact Ventures, Weatherford Capital, and RPM Ventures.

CyberSaint: A cybersecurity risk management firm based in Boston, MA. Investors: Riverside Acceleration Capital, Sage Hill Investors, Audeo Capital, and BlueIO.

Marco Financial: A financing provider for Latin American exporters, based in Miami, FL. Investors: IDC Ventures, IDB Lab, Barn Invest, SquareOne Capital, Arcadia Funds, and Florida Funders.

Morph: A startup building a Layer 2 network for Ethereum, based in New York, NY. Investors: DragonFly Capital, Pantera Capital, Foresight Ventures, The Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures, and Everyrealm.

NX Technologies: Specializing in payment and receivables management for the automotive industry, based in Cologne, Germany. Investors: PayPal Ventures, Seaya Ventures, Walter Ventures, and Motive Ventures.

PocketHealth: A medical imaging records sharing platform based in Toronto, Canada. Investors: Round13 Capital, Deloitte Ventures, Samsung Next, Radical Ventures, and Questa Capital.

Ultrahuman: Makers of a smart ring, based in Bengaluru, India. Investors: Blume Ventures, Steadview Capital, Nexus Venture Partners, and Alpha Wave.

Arrow Risk Management: An insurance claims handling startup based in London, UK. Investors: ACF Investors.

Buzz Solutions: An AI-powered power line inspection company based in Palo Alto, CA. Investors: GoPoint Ventures, Blackhorn Ventures, and MaC Venture Capital.

The Carevoice: A digital health platform for insurance companies based in Shanghai, China. Investors: Apis Partners.

Enapi: An EV transaction platform based in Berlin, Germany. Investors: Project A Ventures, Seedcamp, and HelloWorld.

Euno: A data governance management tool for large organizations, based in Israel. Investors: 10D and INT3.

G2 Reverse Logistics: A returns process simplification platform based in Pittsburgh, PA. Investors: Dell Technologies Capital.

Mermaid: An open source diagramming and charting tool. Investors: OCV, Sequoia Capital, and Microsoft’s M12 fund.

Mobly: A lead management app for businesses, based in Lehi, UT. Investors: Peterson Ventures, VITALIZE Venture Capital, Peak Ventures, Tenzing Capital, Upstream Ventures, and Service Provider Capital.

Winible: A platform for sports influencers to sell betting picks, based in Austin, TX. Investors: Inspired Capital.

IPO

Reddit priced its IPO at the top of the range, raising $748 million.

Astera Labs saw its shares jump as much as 76% in their trading debut, earning the chip firm a $9.7 billion market valuation after its $713 million IPO.

Dreame Technology, a Chinese maker of smart home appliances, is considering an IPO that could raise over $300 million.

South African Airways is seeking a new investor and aims for a listing after an aborted deal.

Fundraising

Two Ravens: A Seattle-based fund, focusing on investing in "extraordinary, non-obvious" founders. The fund aims to raise $20 million.

OTB Ventures: A venture capital firm based in Amsterdam, has closed a fund with $185 million in capital commitments. The fund will invest in seed- and Series A stage startups in Europe, focusing on deep tech. Notable LPs include the European Investment Fund.

Admiralty Capital Group: A new investment firm founded by former JPMorgan Chase banker Ryan Holsheimer, based on Australia’s Gold Coast. The firm is planning to make early-stage investments both locally and internationally and will start fundraising in the next two months.

Saudi Arabia’s PIF and a16z AI Fund: Saudi Arabia's Public Investment Fund (PIF) is in early talks to partner with venture capital firm a16z on an AI fund, which could be as large as $40 billion.

Comvest Partners: An MM private equity and credit investment firm, has closed its sixth flagship private equity fund at $881 million.