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The Scherzer Deal Report: Aug 24-30, 2020

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

PE and VC Firms Fundraising Location Amount Description
March Capital Santa Monica, CA $60M Gaming-focused fund

Private Equity Investors Company  Amount Description
KKR Citation Group Undisclosed British provider of subscription-based HR/employment law and health/safety services to SMEs
Brookfield Infrastructure Cheniere Energy $7B Houston, TX-based liquefied natural gas producer
MidOcean Partners Music Reports Undisclosed Woodland Hills, CA-based provider of music rights data and management services
Accel-KKR Navtor Undisclosed Norwegian provider of navigational software for the maritime industry
Kohlberg & Co., Mubadala Investment Co. PCI Pharma Services Undisclosed Philadelphia, PA-based provider of pharma supply chain solutions
Mill Rock Capital Trojan Lithograph Undisclosed Renton, WA-based maker of folding cartons and single-face laminate packaging
TPG, Warburg Pincus Visma Undisclosed Norwegian enterprise software company

Venture Capital Investors Company  Amount Description
RA Capital Management, Lilly Asia Ventures, Boxer Capital, HBM Healthcare Investments, Qiming Venture Partners Connect Biopharma $115M China and San Diego-based developer of therapies for autoimmune diseases and inflammation
Stripes Group, Tiger Global Management Dataiku $100M New York-based Enterprise AI and machine learning platform
Lightspeed Venture Partners, American Express Ventures Finix $30M San Francisco-based payments infrastructure platform
Bain Capital Life Sciences, Perceptive Advisors, Fidelity, Janus Henderson, Farallon Capital Management, Rock Springs Capital, Cormorant Asset Management, EcoR1, Catalio Capital, the Colorectal Cancer Alliance, RA Capital Management, T. Rowe Price, BrightEdge Ventures, Sands Capital, Andreessen Horowitz, DCVC, GV, Kaiser Permanente Ventures, Novartis, Polaris Partners, Roche Venture Fund, Soleus Capital, Section 32 Freenome $270M South San Francisco-based developer of early colorectal cancer testing via blood draw
Bill Gates Kymeta $85.2M Redmond, WA-based developer of satellite communication antennas and systems
Addition, Adams Street Partners, Howard Schultz, Casdin Capital, Glynn Capital, Greylock Partners, IVP, Meritech Capital Partners, Providence Ventures, Tenaya Capital Lyra Health $110M Burlingame, CA-based provider of mental health care benefits for employers
GMAG Holdings Motiv Power Systems $15M Foster City, CA-based maker of electric truck chasses
Insight Partners, Tiger Global, Slack Fund, World Innovation Lab, Gradient Ventures Mural $118M San Francisco-based provider of digital workspaces for enterprise visual collaboration
Bayer One Drop $34.7M New York-based provider of digital solutions for people living with diabetes
HLM Venture Partners, Commonfund, Vivo Capital, Toba Capital, Transformation Capital, SVB PatientPop $50M Santa Monica, CA-based online marketing platform for medical practice
Bain Capital Ventures, TCV,  Francisco Partners, Dell Technologies Capital, Goldman Sachs, Viola Ventures Redis Labs $100M Mountain View, CA-based open source database
KKR, Ten Eleven Ventures, Brian Murphy ReliaQuest $300M Tampa, FL-based enterprise cybersecurity managed service and intelligence platform
Sapphire Ventures, Insight Partners Restream $50M Austin, TX-based startup focused on streaming to multiple platform
Bessemer Venture Partners, Index Ventures, e.ventures, I2BF Shopmonkey $25M San Jose, CA-based SaaS startup focused on auto repair shops
Sorenson Venturesled, Citi Ventures, Wells Fargo, MVB Financial, Commerce Ventures, Scale Venture Partners, Flint Capital Socore $35M New York-based identity verification startup
St. Baker family office Songtradr $30M Santa Monica, CA-based music licensing platform
Comcast Ventures, 01 Advisors, M12, Atlassian, ServiceNow, Accel, Lightspeed Venture Partners, Harmony Venture Partners Split $33M Redwood City, CA-based feature delivery platform
Bayer, Northpond Ventures, Oceanpine Capital, Viva Biotech Holdings, Bloom Burton & Co., Centre for Commercialization of Cancer Triumvira Immunologics $55M Austin, TX-based cancer therapies developer

September 1st, 2020|Scherzer Deal Report|

The Scherzer Deal Report: July 24-30, 2020

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

PE and VC Firms Fundraising Location Amount Description
Adams Street Partners Chicago, IL $1.1B New private credit fund
Gallant Capital Los Angeles, CA $378M Debut fund

Private Equity Investors Company  Amount Description
WindRose Health Investors Caregiver Undisclosed Fort Worth, TX-based provider of long-term care services to people with intellectual and developmental disabilities
Gemspring Capital Cforia Software Undisclosed Westlake Village, CA-based provider of order-to-cash automation software
Clayton, Dubilier & Rice  Cheney Bros Undisclosed Family-owned food distributor serving the Southeastern United States
Tenex Capital Management Consolidated Label Undisclosed Sanford, FL-based provider of custom-printed, pressure-sensitive labels and shrink sleeves
Berkshire Partners CrossFit Undisclosed Washington, DC-based fitness brand
TA Associates and Francisco Partners Edifecs Undisclosed Bellevue, WA-based provider of health care IT solutions
Core Industrial Partners Incodema Undisclosed Merger of Incodema – an Ithaca, NY-based precision sheet metal engineering firm, and Newchem, a Newark, NY-based photo chemical etching manufacturer
Crestview Partners Upwell Water Undisclosed San Francisco, CA-based specialty finance firm focused on the water market
TowerBrook Capital Partners Validity Finance $100M New York-based commercial litigation firm

Venture Capital Investors Company  Amount Description
MSD Partners BioTheryX $35M San Diego, CA-based biotech focused on restoring protein homeostasis
Versant Ventures Bright Peak Therapeutics $35M San Diego, CA-based biotech focused on chemically synthesizing and optimizing proteins
Pitango Growth, Square Peg Capital ClimaCell $23M Boston, MA-based weather intelligence platform
Kleiner Perkins, 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, DTA, Alex Rodriguez, LBC Ventures, Julia and Kevin Hartz, Cyan and Scott Banister Density $51M San Francisco, CA-based startup that measures indoor headcount
Gilde Healthcare, Longitude Capital, NEA, the Charles and Helen Schwab Foundation, Nan Fung Life Sciences Eargo $71M San Jose, CA-based medical device startup focused on hearing loss
Accel, Glilot Capital Partners, Norwest Venture Partners, Target Global Ermetic $17.3M Palo Alto and Tel Aviv-based cloud access risk security startup
Zeev Ventures, Dynamic Loop, Emerge, F2 Capital Explorium $31M San Mateo, CA-based data science startup
PXV Fund, Drive Capital Forge Biologics $40M Columbus, OH-based viral vector gene therapy startup
Kayne Partners, 8VC, Fontinalis Partners, Revolution Ventures, Hearst Ventures, Prologis Ventures, Story Ventures, Engage Ventures FreightWaves $37M Chattanooga, TN-based freight data startup
CPT Capital, WTT Investment Geltor $91.3M San Leandro, CA-based animal-free “ingredients-as-a-service” startup
Humana Heal $100M Los Angeles, CA-based physician house call and telemedicine platform
Canaan Partners, Stanford StartX, Root Ventures, Eclipse Ventures, First Round Capital Instrumental $20M Palo Alto, CA-based computer vision startup focused on detecting manufacturing anomalies
Frazier Healthcare Partners, OrbiMed, NEA, IU PhV, BioCrossroads, Twilight Venture Partners MBX Biosciences $34.6M Carmel, IN-based biotech focused on rare endocrine diseases
Argentum, Breakwater Mediant, Compo Seven Capital, Mathers Associates, First Analysis Corp Mediant $18.5M New York-based investor communications platform
The Column Group, Samsara BioCapital, Euclidean Capital Nura Bio $73M San Francisco, CA-based developer of neuroprotective drugs
Flagship Pioneering Omega Therapeutics $85M Cambridge, MA-based epigenomics startup
Eventide Asset Management, Avoro Capital, Surveyor Capital, Point72, Cormorant, Qatar Investment Authority, Irving Investors, Adage Capital Management, Verition Fund Management, Ample Plus Fund, Vida Ventures, Novo Holdings, Blackstone Life Sciences, OCV Partners Praxis Precision Medicines $110M Cambridge, MA-based biotech focused on CNS disorders
Energy Impact Partners, Paladin Capital Group, Cisco Investments Rangeforce $16M Manassas, VA-based cybersecurity training startup
PayU, DN Capital, Generation Investment Management, Owl Rock Capital, Princeville, Stripes, Threshold Ventures, Top Tier Capital Remitly $85M Seattle, WA-based digital remittance company
General Catalyst, The Chernin Group, FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital, 3L, BoxGroup Ro $200M New York-based DTC pharmacy focused on men’s health
BlackRock, Deerfield Management, Moore Capital Sema4 $120M Stamford, CT-based health intelligence company
GIC, Silver Lake Waterman, Andreessen Horowitz, Index Ventures, Spark Capital, USV Stack Overflow $85M New York, NY-based coding Q&A site
Norwest Venture Partners, General Catalyst Tempo $60M Connected home gym startup
Casdin Capital, Section 32, Bain Capital Life Sciences, Brown Advisory, Driehaus Capital, Intermountain Ventures, Janus Henderson Investors, Lux Capital, Moore Strategic Ventures, Perceptive Advisors, Rock Springs Capital, Sands Capital, T. Rowe Price Thrive Earlier Detection $257M Cambridge, MA-based early cancer detection startup
Khosla Ventures, Centana Growth Partners True Link Financial $35M San Francisco, CA-based provider of digital financial services targeting retirees
CoVenture, GPS Partners, Golden Ventures, Sweet Capital Wave.tv $32M Los Angeles, CA-based interactive sports media platform

July 31st, 2020|Scherzer Deal Report|

Client Alert: EU Court of Justice Invalidates the EU-US Privacy Shield

An important and unexpected ruling was handed down by the Court of Justice of the European Union (CJEU) on July 16, 2020, in Data Protection Commissioner v Facebook Ireland Ltd and Maximillian Schrems (“Schrems II”) that invalidates the EU-U.S. Privacy Shield (“Privacy Shield”) arrangement. Since 2016, the Privacy Shield provided U.S. companies with a mechanism to comply with the General Data Protection Regulation (GDPR) requirements when transferring personal data from the European Union to the U.S.

What this means

Now companies that subscribed to the Privacy Shield must find another GDPR-compliant solution for the transfer of data. The European Data Protection Board indicated in its July 23, 2020 FAQs that it will not be providing a grace period as the authorities had done for the EU-U.S. Safe Harbor (“Safe Harbor”) framework following the “Schrems I” decision.

Notably, the CJEU’s decision expressly stated that the standard contractual clauses (SCCs) previously promulgated by the European Commission (EC) are still a valid tool for data transfers from the EU to the United States. The SCCs are sets of contractual terms and conditions that the controller and the processor of the data both execute to comply with GDPR’s requirements.  However, the CJEU’s decision does not give blanket approval to the SCCs–the decision acknowledged that future challenges to SCCs are permissible by the local data enforcement agency for any EU-member state. For example, an EU-member state might prohibit or suspend exports of personal data from its country under SCCs, if the member state concludes that the SCCs are not or cannot be complied with in the recipient third country (such as the U.S.) because of the member state’s local legal requirements.

The CJEU did not directly reference binding corporate rules (‘BCRs’) which are used for intragroup data transfers and require prior approval of the competent data protection authority. For now, this means that BCRs remain a valid transfer mechanism under the GDPR as BCRs are of a similar nature to  SCCs (both are considered an “appropriate safeguard” pursuant to Article 46 GDPR).

For some situations, an alternative is to look to the narrow derogations under Article 49 of the GDPR, such as to perform a contract or base the transfer on the subject’s explicit consent.  

What happens next

When the adequacy of the Safe Harbor was invalidated by the CJEU in 2015, the U.S. Department of Commerce (DOC) and the EC had already been negotiating for an updated trans-Atlantic program for many months. With Schrems II, and although the DOC and EC have indicated that lines of communication are open, the discussions are not nearly as advanced. And the issues cited by the CJEU in Schrems II may require some form of legislative and not merely an administrative action to address. As such, the process to revamp the Privacy Shield is unlikely to be concluded any time soon.  

The DOC, in a press release in response to the CJEU’s decision, and later in its updated Privacy Shield FAQs, stated that it will continue to administer the Privacy Shield program, including processing submissions for self-certification and re-certification and maintaining the participants’ list. The DOC emphasized that the CJEU’s decision “does not relieve participating organizations of their Privacy Shield obligations.”

The UK’s Data Enforcement Agency also issued a statement advising companies to continue using the Privacy Shield until new guidance becomes available but added that companies “do not start using the Privacy Shield during this period.”

Stay tuned for more regulatory guidance and other developments in the next few weeks.

Disclaimer: This is not legal advice. The resources and information provided here are for educational purposes only. Consult your own counsel if you have legal questions related to your specific practices and compliance with applicable laws.

July 30th, 2020|Judgment|

The Scherzer Deal Report: July 8-14, 2020

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

PE and VC Firms Fundraising Location Amount Description
Actis London, UK $2.9B Fifth renewable energy fund
DCM Menlo Park, CA $880M Tenth fund
Engineering Capital Palo Alto, CA $60M Third fund
Navegar Philippines $197M Second fund
The Blackstone Group New York, NY $4.6B Debut life sciences fund
TrueBridge Capital Partners Chapel Hill, NC $600M Sixth VC fund-of-funds

Private Equity Investors Company  Amount Description
HgCapital  F24 Undisclosed Pan-European emergency notification provider
Madison Dearborn Partners Benefytt Technologies $410M Tampa, FL-based health insurance tech provider
Sonoma Brands Chef’s Cut Real Jerky Co. Undisclosed New York-based meat snacks brand
KKR  Global Atlantic Financial Group $4.4B Bermuda-based retirement and life insurance company
Round Table Capital Partners Hull & Associates Undisclosed Midwest and Mid-Atlantic-based environmental and engineering consultancy
KCM Capital Partners Mason West Undisclosed Placentia, CA-based provider of engineered seismic restraint and vibration isolation products
H.I.G. Capital Project Informatica Undisclosed Italian IT consultant
Parthenon Capital RxSense Undisclosed Boston, MA-based provider of prescription savings solutions to consumers and pharmacy benefits administrators
Align Capital Partners WilliamsMarston Undisclosed Boston and New York an accounting advisory and management consulting firm

Venture Capital Investors Company  Amount Description
T. Rowe Price, Pinnacle Bank Apiture $20M Digital banking experience startup
General Atlantic Doctor On Demand $75M San Francisco, CA-based virtual care provider
S2G Ventures, Cox Enterprises, Skyline Global Partners, Bunge Ventures, Finistere Ventures Growers Edge $40M Johnston, IA-based provider of fintech products for farmers
Hudson Bay Capital, OrbiMed, Country Garden VC, GTJA Investment Group, Octagon Capital, Sage Partners Harbour BioMed $103M Massachusetts and China-based cancer drug startup
Two Bear Capital Inimmune $22M Missoula, MT-based developer of adjuvants for vaccines
Undisclosed Karma Automotive $100M Reincarnation of electric carmaker Fisker Auto
General Catalyst, Khosla Ventures, Eldridge, Manta Ray Ventures, Tiny Blue Dot, Johnson Kernel $53M Los Angeles, CA-based neuroscience startup
Perceptive Advisors, RRE, GV, Freemark Capital Kindbody $32M New York-based provider of women’s fertility services,
Emergence Capital, TI Platform Management, Radianx Capital, Top Tier Capital, Trend Forward Capital, Initialized Capital, Providence Equity LogDNA $25M Mountain View, CA-based startup focused on simplify server data logging
Volition Capital,  Greycroft, Horsley Bridge, Lerer Hippeau Medly Pharmacy $100M New York-based digital pharmacy
ABB Technology Ventures, NanoDimension Capital, Volta Energy Technologies, Chevron, Khosla Ventures, Prelude Ventures Natron Energy $35M Santa Clara, CA-based developer of sodium-ion batteries
The Blackstone Group , Howard Schultz, Oprah Winfrey, Roc Nation, Natalie Portman, Orkila Capital, Rabo Corporate Investments Oatly $200M Swedish oat milk company
Goldman Sachs Merchant Banking, Healthcare Venture Partners Paige $70M New York-based computational pathology startup
CPP Investments, Temasek, Horizons Ventures Perfect Day $160M Animal-free dairy
T. Rowe Price, Soros Fund Management, Fidelity, Baron Capital, Amazon, BlackRock Rivian $2.5B Plymouth, MI-based electric truck-maker
TSG Consumer Partners, IVP Robinhood $320M No-fee digital brokerage
Next47,  Levitate Capital, NTT Docomo Ventures, Andreessen Horowitz, IVP, Playground VC Skydio $100M Redwood City, CA-based autonomous drone developer
Ping An, JPMorgan, Prosperity7 Ventures, Zouk Ventures Taulia $60M San Francisco, CA-based B2B payments platform
CIC Partners, Morgan Stanley Expansion Capital, Dirk Nowitzki, Kendra Scott Tiff’s Treats $15M Austin, TX-based warm cookie delivery brand
Remiges Ventures, SR One, Vivo Capital, Hillsborough Venture, Correlation Ventures Tranquis Therapeutics $30M San Mateo, CA-based immuno-neurology startup
TI Platform Fund, Optum Ventures, Initialized Capital, Sound Ventures Truepill $25M San Mateo, CA-based digital pharmacy startup
Alkeon, Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, T. Rowe Price UiPath $225M New York-based developer of robotic process automation software
Matrix Capital Management, Surveyor Capital, Adage Capital, Cormorant Asset Management, Farallon, Foresite Capital, Janus Henderson, Logos Capital, OrbiMed, T. Rowe Price, Venrock, Viking Global Investors, Wellington Management, Arix Bioscience, Decheng Capital, Pappas Capital, Sofinnova Ventures, Takeda Ventures VelosBio $137M San Diego, CA-based developer of antibody drug conjugates to treat cancers
Walgreens Boots Alliance VillageMD $1B Chicago, IL-based primary health care provider
RA Capital Management, Fidelity, Pagliuca Family Office, Alexandria Venture Investments, 5AM Ventures, Johnson & Johnson Innovation, Osage University Partners, PureTech Health Vor Biopharma $110M Cambridge, MA-based engineered cell therapy startup

July 17th, 2020|Scherzer Deal Report|

Congratulations to Jessica Staheli on being selected for LABJ’s Leaders of Influence: Private Equity Advisors

Jessica Staheli

Executive Vice President
Scherzer International
Direct: 818.227.2598
Mobile: 818.337.9513

Link to the article: https://labusinessjournal.com/news/2020/jun/29/leaders-influence-private-equity-advisors-jessica-/

July 7th, 2020|SI Information|

The Scherzer Deal Report: June 23-29, 2020

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.

The Scherzer Deal Report is released on Tuesdays.

PE and VC Firms Fundraising Location Amount Description
1868 Ventures Columbus, OH $50M Scotts Miracle-Gro launched a $50 million corporate venture arm
Addition New York, NY $1.3B Debut VC fund led by ex-Tiger Global investor Lee Fixel
KKR New York, NY $10B Third Asia buyout fund

Private Equity Investors Company  Amount Description
Ridgemont Equity Partners American Safety Council Undisclosed Orlando, FL-based provider of mandatory training, education, and certification solutions to regulated end market
Charlesbank Capital Partners  Aptean Undisclosed Alpharetta, GA-based ERP software company
HGGC, Level Equity Aventri Undisclosed Norwalk, CT-based provider of event management software
Elm Street Technology IDX Broker Undisclosed Eugene, OR-based provider of real estate search applications and marketing solutions
Flagship Pioneering, Alaska Permanent Fund, Riverstone Holdings Indigo Ag $300M Charlestown, MA-based developer of crop sustainability and selling solutions
Investindustrial Knoll $164M East Greenville, PA-based furniture maker
The Carlyle Group  Piramal Pharma $490M Indian drugmaker
The Carlyle Group Unison Undisclosed Dulles, VA-based provider of procurement and contract management software to federal government agencies and contractors
Bain Capital  Virgin Australia Holdings Undisclosed Largest Australian airline by fleet size to use the Virgin brand
Warburg Pincus WEX Inc. $400M Portland, ME-based corporate credit card provider
Clearlake Capital Group WhiteStar Asset Management Undisclosed Dallas, TX-based CLO specialist

Venture Capital Investors Company  Amount Description
5AM Ventures, venBio Partners, RA Capital Management, Medivate Partners, GC LabCell, and GC Artiva Biotherapeutics $78M San Diego, CA-based developer of allogeneic natural killer cell therapies
Insight Partners, New Leaf Venture Partners, Eclipse Ventures BrightInsight $40M San Jose, CA-based regulated digital health platform for biopharma and medtech
Andreessen Horowitz, Kaiser Permanente, Kinnevik, Thrive Capital, Lakestar, Founders Fund Cedar $102M New York-based health care financial engagement platform
Craft Ventures, Georgian Partners ClickUp $35M San Diego, CA-based project management app
Barclays, Citi, Fidelity, Goldman Sachs, J.P. Morgan, Morgan Stanley, Canaccord Genuity, Franklin Templeton, StageDotO, Shea Ventures CMG $25M New York-based provider of workflow and real-time data analytics for capital markets transactions
FTV Capital Derivative Path $35M San Francisco, CA-based provider of solutions for OTC interest rate derivative and for-ex transactions
Optum Ventures, Oak HC/FT, Humana, Alta Partners, Questa Capital, Echo Health Ventures DispatchHealth $136M Denver, CO-based in-home health care startup
Activate Capital, Forte Ventures, Evonik VC, Kerogen Digital Solutions, High Tide Foundation, Kleiner Perkins Green Growth, Ajax Strategies, Blue Bear Capital, Schneider Electric Ventures, Honeywell Ventures, ABB Tech Ventures Element $18M San Francisco, CA-based “industrial data hub”
Bill & Melinda Gates Foundation, Finistere Ventures, Novalis LifeSciences, Germin8 Ventures, TO Ventures Food, Anterra Capital,  Rabo Food & Agri Innovation Fund Enko Chem $45M Woburn, MA-based developer of crop protection solutions
MCIF, APF, Sayan Bioventures, BioStar Capital, Kairos Ventures, Caltech Foldax $20M Salt Lake City, UT-based artificial heart valve developer
Point Ventures, Initialized Capital, Founders Fund, SaaStr, House Fund HelloOffice $20M San Francisco-based commercial real estate brokerage making
Intel Capital, DFJ Growth, Dell Technologies Capital, Greycroft, Drive Capital, Citi Ventures Immuta $40M Boston-based automated data governance startup
8VC, Round13 Capital, Citi Ventures, Spark Capital, ScaleUp, Slack Fund Nylas $25M San Francisco, CA-based provider of communications APIs for developers
Wafra, Breyer Capital, LiveOak Venture Partners, Royal Bank of Canada, Northwestern Mutual Future Ventures OJO Labs $62.5M Austin, TX-based maker of an AI assistant for the real estate industry
Obvious Ventures, Gradient Ventures, Point Judith Capital Openly $15M Boston, MA-based homeowners insurance platform
Fin VC, Tribe Capital, Uncorrelated Ventures, Lachy Groom, Anthemis, Craft Ventures, Fika Ventures, MaC Ventures Pipe $60M Los Angeles, CA-based SaaS subscription financing platform
Andreessen Horowitz, Accel, 468 Capital, Basis Set Ventures, Mango Capital Rasa $26M San Francisco, CA-based chatbots platform
Arch Venture Partners, Flagship Pioneering, CPPIB, Baillie Gifford, F-Prime Capital, Alaska Permanent Fund, PSP Investment Board, Bezos Expeditions, GV, Omega Funds, Altitude Life Science Ventures Sana Biotechnology $700M Seattle, WA-based gene regulation startup
Providence Strategic Growth SevenRooms $50M New York-based provider of hospitality guest management software
WuXi AppTec, Sequoia Capital China, Connecticut Innovations Simcha Therapeutics $25M New Haven, CT-based developer of drugs to modulate cytokine pathways
Longitude Capital, Optum Ventures, Deerfield Management, Blue Venture Fund, Flare Capital, Town Hall Ventures Somatus $64M McLean, VA-based provider of kidney disease diagnostics
Fidelity, Westcap, Inovia Capital, Greenoaks, Spark Capital, Greylock, Valor Equity, Tao Capital, Atreides Capital, Lennar Sonder $170M hotel and short-term apartment rental platform
Guggenheim Partners, UC Investments, Elisabeth Murdoch, SC Holdings SpringHill $100M new media company co-founded by LeBron James and Maverick Carter
Recruit Strategic Partners, Flourish Ventures, Loeb Enterprises, Propel Venture Partners, CMFG Ventures Steady $15M Atlanta, GA-based startup that helps low- and mid-wage workers earn more money
Sapphire Ventures, GV, Ventures, Kleiner Perkins, DCM, Resolute Ventures UJet $55M San Francisco, CA-based provider of cloud customer support software

June 30th, 2020|Scherzer Deal Report|

The Scherzer Deal Report: June 16-22, 2020

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.

The Scherzer Deal Report is released on Tuesdays.

PE and VC Firms Fundraising Location Amount Description
Ares Management Los Angeles, CA $3.5B Special opportunities fund
Corten Capital London, UK €392M Debut fund by Warburg Pincus vets Simon Begg and Joseph Schull
FirstMark Capital New York, NY $380M Fifth early stage fund 
FirstMark Capital New York, NY $270M Third opportunities fund
FTV Capital San Francisco, CA $1.2B Sixth growth equity fund
Grishin Robotics Menlo Park, CA $100M New fund
Osceola Capital Tampa, FL $125M Debut fund
The Sterling Group Houston, TX $2B Fifth fund

Private Equity Investors Company  Amount Description
Paine Schwartz Partners AgroFresh Solutions Undisclosed Philadelphia, PA-based company focused on extending the shelf-life of produce and flowers
Durable Capital Partners, Fidelity, T. Rowe Price DoorDash $400M  
AE Industrial Partners  NuWave Undisclosed McLean, VA-based provider of data management and other tech solutions to the federal government
Accel-KKR PINC Undisclosed Union City, CA-based provider of supply chain management software for yard operations

Venture Capital Investors Company  Amount Description
Blue Venture Fund, CRV, .406 Ventures, Horizon Healthcare Services, Echo Health Ventures Abacus Insights $35M Boston, MA-based data integration and interoperability platform for health plans and providers
 Point72 Ventures, High Alpha Capital, Republic Labs, Oakridge, Peak State Botkeeper $25M Boston, MA-based bookkeeping company
Andreessen Horowitz, Comcast Ventures, Trinity Ventures Brightside $35M financial care platform for employers
Coatue, Insight Partners, DST Global, Blossom Capital, GIC Checkout.com $150M London-based payments platform
Bain Capital Ventures, Accel, Greylock Clockwise $18M San Francisco, CA-based smart calendar startup
Insight Partners, Salesforce Ventures, Lead Edge Capital, ISAI Cap Venture, Perpetual Investors Copado $26M Chicago, IL-based DevOps platform for Salesforce
BlackRock Credo $100M San Jose, CA-based chipmaker
Owl Ventures Degreed $32M San Francisco, CA-based upskilling platform
Sozo Ventures, Alpha Intelligence Capital, Toyota AI Ventures, Micron Ventures, Presidio Ventures, Hella Ventures, Emergence Capital, Benhamou Global Ventures, Andreessen Horowitz Drishti Technologies $25M Mountain View, CA-based provider of video analytics for the factory floor
Blumberg Capital, QED Investors, FJ Labs, Correlation, Moderne, 7BC, Interplay EasyKnock $20M New York-based residential sale and lease-back platform
L Catterton Hydrow $25M Cambridge, MA-based maker of connected rowing machines
Optum Ventures, Idinvest, capital300, Balderton Capital, Heartcore Capital, Symphony Ventures Kaia Health $26M New York-based digital therapeutics startup
Credit Suisse Asset Management’s NEXT Investors MayStreet $21M New York-based market data infrastructure platform
Atomico, Glynn Capital, Dawn Capital, Nauta Capital, Slack Fund Onna $27M Barcelona and New York-based knowledge integration platform
Kleiner Perkins, Upfront Ventures Open Raven $15M Los Angeles, CA-based data security platform
Lightspeed Venture Partners, 8VC, DCVC Bio, ND Capital, Mubadala, Kaiser Foundation Hospitals, Kaiser Permanente, IMRF Orca Bio $192M Menlo Park, CA-based developer of allogeneic cell therapies
Sands Capital, Salesforce Ventures, Operator Collective, Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield, Sapphire Ventures Outreach $50M Seattle, WA-based provider of sales tools
Sompo Japan Nipponkoa Palantir $500M Palo Alto, CA-based big data analytics company
Apax Digital Payfone $100M New York-based mobile ID company
DCVC, Bold Capital Partners, Alan Frazier Proprio $23M Seattle, WA-based surgical navigation startup
Volkswagen QuantumScape $200M San Jose, CA-based developer of solid-state batteries
Tenaya Capital Salt Security $20M Palo Alto, CA-based API security startup
Redmile Group, Janus Henderson Investors, Fidelity, EcoR1 Capital, Hatteras Venture Partners, Avidity Partners, Partner Fund Management, Emerson Collective, Piper Sandler & Co. Shattuck Labs $118M Austin, TX and Durham, CA-based cancer and inflammatory disease biotech
Coatue Ventures, Index Ventures Starburst $42M Boston, MA-based SQL query engine
Gradient Ventures and GGV Capital Streamlit $21M San Francisco, CA-based model comparison tool for machine learning development
Sapphire Ventures, Comcast Ventures, ForgePoint Capital Uptycs $30M Waltham, MA-based provider of SQL-powered security analytics
Energy Impact Partners, Piva, Salesforce Ventures, National Grid Partners Urbint $20M New York-based provider of field safety information for utilities
BlackRock, Duke Energy, Breakthrough Energy Ventures, Material Impact Fund Zero Mass Water $50M Scottsdale, AZ-based developer of hydropanels for drinking water
Access Industries, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, USVP Zerto $33M Boston, MA-based IT resilience startup
Khosla Ventures, Cervin Ventures Zycada $19M Campbell, CA-based developer of a bot to speed up e-commerce experiences

June 22nd, 2020|Scherzer Deal Report|

The Scherzer Deal Report: June 10-15, 2020

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.

The Scherzer Deal Report will be released on Tuesdays.

PE and VC Firms Fundraising Location Amount Description
Matrix Partners China Hong Kong $750M Sixth Fund

Private Equity Investors Company  Amount Description
Kayne Anderson Rudnick Investment Management, Whale Rock Capital Management, Apax Partners, Dragoneer, Insight Partners, Temasek, Neuberger Berman Duck Creek Technologies Undisclosed Boston, MA-based provider of insurance industry SaaS
Searchlight Capital Partners Global Risk Partners Undisclosed British independent insurance intermediary
Iconiq Capital QGenda Undisclosed Atlanta, GA-based provider of workforce management SaaS for the health care industry

Venture Capital Investors Company  Amount Description
Andreessen Horowitz, Costanoa Ventures Alpha Health $20M South SF-based unified automation startup focused on health care
ATON Partners, Perceptive Advisors CereVasc $44M Boston, MA-based biotech focused on hydrocephalus
Decheng Capital, Foresite Capital, Madrone Capital Partners, Johnson & Johnson Innovation, ACME Capital Cue Health $100M San Diego, CA-based portable diagnostics lab
Highland Capital Partners, Highland Europe, Dell Technologies Capital, Sequoia Capital, Coatue Management Domino Data Lab $43M San Francisco, CA-based enterprise data science management platform
Brandon Capital Partners, Santé Ventures Glyscend Therapeutics $20.5M Baltimore, MD-based developer of oral treatments for Type 2 diabetes
BlueRun Ventures, Assurant Growth Investing, Leap Global Partners, Correlation Ventures, H.Barton Asset Management, Expa, Montage Ventures, RIT Capital Haus Services $16M San Francisco, CA-based provider of homeowner liquidity solutions
Viking Global Investors HeadLight $25.6M Seattle, WA-based developer of photo-based inspection tech
DST Global, General Catalyst, D1 Capital Partners Instacart $225M San Francisco, CA-based grocery delivery company
Nexus Venture Partners, Rebright Partners, W250 Venture Fund, individual angels Jiffy.ai $18M Palo Alto, CA-based enterprise automation startup
Francisco Partners Kyruus $30M Boston, MA-based provider of search and scheduling software for health systems
Versant Ventures Lycia Therapeutics $50M Bay Area biotech startup focused on protein degradation
Left Lane Capital, Jump Capital, Clocktower Technology Ventures M1 Finance $33M Chicago, IL-based automated money management platform
Lightspeed Venture Partners, AXA Venture Partners NS8 $123M Las Vegas, NV-based provider of online fraud prevention solutions for merchants
Andreessen Horowitz, F-Prime Capital, GV, Transformation Capital PatientPing $60M Boston, MA-based provider of health care coordination software
Team8 Capital, Viola FinTech, Arbor Ventures, Nationwide, Hannover Digital Investments Planck $16M New York-based data platform for insurance underwriting
Insight Partners, CRV, Nexus Venture Partners Postman $150M San Francisco, CA-based platform for API development
Transformation Capital, C5 Capital, Laerdal Million Lives Fund RapidSOS $21M New York-based startup that provides data for emergency response situations
CRV,Tiger Global, the San Francisco 49ers, Charles Phillips, Trinity Ventures, 645 Ventures, Comcast Ventures, YC Squire Technologies $27M New York-based provider of barbershop management and point-of-sale software
Index Ventures, Accel, South Park Commons Transcend $25M San Francisco, CA-based provider of a data privacy infrastructure
GV, Arch Venture Partners, F-Prime, Casdin Capital Verve Therapeutics $63M Cambridge, MA-based developer of cardiovascular therapies
Griffin Gaming Partners, NTT DoCoMo Ventures, Avex, Superfly Ventures, Convivialite Ventures, Raised in Space Wave $30M Austin, TX-based virtual concert company that facilitates live music in virtual settings+A7:D28

June 15th, 2020|Scherzer Deal Report|

The Scherzer Deal Report: June 4-9, 2020

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.

Effective June 10, 2020 The Scherzer Deal Report will be released on Wednesdays.

PE and VC Firms Fundraising Location Amount Description
Atlas Venture Cambridge, MA $400M Twelfth fund
Balbec Capital New York, NY $1.2B Fourth global credit fund
Mercato Partners Salt Lake City, UT $90M Fund focused on restaurants
Meritech Capital Partners Palo Alto, CA $800M Seventh later-stage VC fund
Petra Capital Partners Nashville, TN $208M Fourth private equity fund
Wing VC Palo Alto, CA $450M Third early stage fund

Private Equity Investors Company  Amount Description
Silversmith Capital Partners Appfire $49M Boston, MA-based provider of apps for software development teams
Blue Sage Capital Barricades Unlimited Undisclosed Lubbock, TX-based provider of traffic control, pavement markings, guardrail installation equipment and services
Brynwood Partners Buitoni  Undisclosed North American division of Italian pasta brand

Venture Capital Investors Company  Amount Description
Perceptive Advisors, RTW Investments, Viking Global Investors, Venrock, Franklin Templeton, Rock Springs Capital, LifeSci Venture Partners, Surveyor Capital, Highside Capital Management, Logos Capital, Janus Henderson Investors, Sofinnova, Avidity Partners, Sahsen Ventures Athira Pharma $85M Seattle, WA-based regenerative medicine startup focused on neurological diseases
Valor Equity Partners, Rockwell Automation, Inc., ABB Technology Ventures, Atreides Managemen Atom Power $17.75M Charlotte, NC-based digital circuit breaker
UBS, J.P. Morgan, Barclays Cloud9 Technologies $17.5M New York-based trader collaboration and analytics platform
MPM Capital, F2 Ventures Cullinan Oncology $98.5M Cambridge, MA-based developer of cancer drugs
Perceptive Advisors, Northpond Ventures, GV, Foresite Capital, TPG Capital, First Round Capital DNAnexus $100M Mountain View, CA-based provider of biomedical informatics and data management
Yonjin Venture, Varian Medical Systems, J&J, Venture Investors, Lumira Ventures, State of Wisconsin Investment Board HistoSonics $40M Plymouth, MN-based developer of noninvasive robotic platform and sonic beam therapy
Bessemer Venture Partners, Tiger Global Management, Stripes, FirstMark Capital, Battery Ventures, Felicis Ventures, 3KVC, Gaingels, Penna & Co. Hyperscience $60M New York-based data automation startup
Insight Partners Inky $20M College Park, MD-based anti-phishing startup
Goldman Sachs jSonar $50M Waltham, MA-based database security startup
Edison Partners Superpedestrian $15M Boston, MA-based scooter fleet developer
Saudi Aramco, BECO Capital, Cue Ball Group Wahed Invest $25M New York-based online Islamic investment platform
8VC, WiPro, Lightspeed Venture Partners, Dell Technologies Capital Yugabyte $30M Sunnyvale, CA-based developer of open-source distributed SQL databases

June 10th, 2020|Scherzer Deal Report|

The Scherzer Deal Report: May 27 – June 3, 2020

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

PE and VC Firms Fundraising Location Amount Description
Ardian Paris, France $19B Eighth private equity secondaries and co-investments funds
Francisco Partners San Francisco, CA $7.45B Sixth flagship buyout fund
Francisco Partners San Francisco, CA $1.5B Second mid-market fund
Francisco Partners San Francisco, CA $750M Opportunistic credit fund
KKR New York, NY $4B Dislocation fund
MassMutual Ventures Springfield, MA $100M Third fund

Private Equity Investors Company  Amount Description
Shamrock Capital Adweek Undisclosed New York-based ad industry publication
GTCR Captrust Financial Advisors Undisclosed Raleigh, NC-based registered investment advisor
Osceola Capital Central Medical Group Undisclosed Flanders, NJ-based provider of outsourced equipment management solutions for hospices
AE Industrial Partners Deep Space Systems Undisclosed Boca Raton, FL-based provider of payloads, systems, and components to the space industry
Thoma Bravo Exostar Undisclosed Herndon, VA-based information-sharing platform for highly-regulated industries
The Carlyle Group and T&D Holdings Fortitude Group Holdings $2.2B US-based reinsurer
Wellspring Capital Management Steele Solutions Undisclosed Franklin, WI-based provider of steel infrastructure for distribution, warehouse, and manufacturing facilities
LLR Partners TrueLearn Undisclosed Mooresville, NC-based provider of online study tools for medical licensing
H.I.G. Capital USALCO Undisclosed Baltimore, MD-based provider of clean water and alumina cemical solutions

Venture Capital Investors Company  Amount Description
Goldfinch Partners Vesta $125M Lake Oswego, OR-based fintech pioneer in fraud protection and fully guaranteed payment technologies
Alkeon, Spark Capital, Lux Capital, Iconiq Capital, Thrive Capital, Benchmark Benchling $50M San Francisco, CA-based life sciences R&D cloud platform
Abbot Labs, Smile Group, Quadrant Capital Advisors, Senvest Capital, Janus Henderson, Cormorant Asset Management Bigfoot Biomedical $55M Milpitas, CA-based developer of digital therapies for diabetes
FirstMark Capital, Accomplice, Seedcamp, Credo Ventures, Founders Future, LDV Capital Ezra $18M New York-based provider of early cancer screening solution
Illumina, General Atlantic, Viking Global Investors Gingko Bioworks $70M Boston, MA-based DNA design startup that is working on large-scale COVID-19 testing
Zebra Technologies Locus Robotics $40M Wilmington, MA-based developer of autonomous mobile robots for e-commerce fulfillment warehouses
Sequoia Capital and Kleiner Perkin Loom $23M San Francisco, CA-based video enterprise collaboration platform
CAM Capital, Samsara BioCapital, BVF Partners, Adams Street Partners, Opaleye Management, Ligand Pharma, Agent Capital, BioAdvance, Nolan Capital Palvella Therapeutics $45M Wayne, PA-based biotech focused on rare genetic diseases without approved treatments
Artis Ventures Tae Life Sciences $30M Foothill Ranch, CA-based radiation therapy startup
Threshold Ventures, Acme Ventures, Define Homebrew, Compound, John Doerr Tia Health $24M San Francisco, CA-based provider of women’s telehealth and clinical services
Finistere, Origin Ventures Tovala $20M Chicago, IL-based smart oven and meal service startup
Silver Lake, Riverwood Capital, Level Equity Vacasa $108M Portland, OR-based vacation rental management platform
Lux Capital Varient Bio $16M New York-based biotech that studies “the genes of people from understudied populations who are outliers for medically relevant traits,”
Gallatin Point Capital, The Rise Fund, TPG, Bono, Jeff Skoll, HarbourVest Partners, Progressive Insurance Varo Money $240M San Francisco, CA-based mobile banking app

June 5th, 2020|Scherzer Deal Report|