Scherzer Blog

The Scherzer Deal Report: August 7-11, 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

Access Holdings
Baltimore, MD
$805M
Second lower midmarket fund ($525M) and co-investment commitments (c. $280M)

Blackstone
$7.1B
Third energy transition credit fund

Revelstoke Capital Partners
Denver, CO
$1.7B
Third fund

Ribbit Capital
Palo Alto, CA
$800M
10th fintech-focused VC fund

Private Equity Deals

Apollo Global Management
Accent
Undisclosed amount
Tomball, TX-based provider of baling wires

Waste Connections
Arrowhead Environmental Partners
Undisclosed amount
AL-based non-hazardous solid waste management company

Symphony Technology Group
Avid Technology
Undisclosed amount
Burlington, MA-based media editing software maker

Benford Capital Partners
BSC Industries
Undisclosed amount
Canton, MA-based distributor of industrial automation and motion control products

Novacap
Cadent
$600M
New York, NY-based TV ad tech firm

Seaport Capital
CyberlinkASP
Undisclosed amount
Dallas, TX-based provider of outsourced IT management services

Kohlberg & Co.
Engage PEO
Undisclosed amount
Hollywood, FL-based provider of HR outsourcing solutions to SMBs

RedBird-IMI
EverWonder Studio
Undisclosed amount
New York, NY-based independent nonfiction content studio

Olympus Partners
MEI Rigging & Crating
Undisclosed amount
Albany, OR-based provider of rigging and machinery moving and related services

Willis & Smith Capital
Performance Stamping
Undisclosed amount
Carpentersville, IL-based provider of metal stamping to industrial customers

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

Goldman Sachs Asset Management
Synthica Energy
Undisclosed amount
Cincinnati, OH-based developer of biogas from food waste

Clayton Dubilier & Rice
Veritiv
c. $2.3B
Atlanta, GA-based printing and packaging company

Venture Capital Deals

Bain Capital Life Sciences, TCGX, Blackrock, Commodore Capital, Cormorant Asset Management, HB Healthcare Investments, Invus, Marshall Wace, Redmile Group, T. Rowe Price, Venrock, Vivo Capital, Ascenta Capital, Lilly Asia Ventures, OrbiMed, SR One Capital Management
ADARx Pharmaceuticals
$200M
San Diego, CA-based developer of RNA therapeutics

Flagship Pioneering
Alltrna
$109M
Cambridge, MA-based transfer RNA startup focused on codon diseases

Eclipse Ventures, Intuitive Ventures, Puma Venture Capital, Vipul Patel
Capstan Medical
$31.4M
Santa Cruz, CA-based developer of robotic-assisted heart valve surgery tech

Owl Ventures, NEA
Fizz
$25M
Palo Alto, CA-based social app for college students

General Catalyst, the Parker Institute, Mubadala
Georgiamune
$75M
Gaithersburg, MD-based monoclonal antibody developer focused on oncology and autoimmune diseases.

Insight Partners, Baseline Ventures, Haystack, Upside Partnership, Octave Ventures, Mantis VC
Haus
$17M
Mountain View, CA-based marketing ROI analytics startup

Founders Fund
Neuralink
$280M
Fremont, CA-based brain implant startup

Riverwood Capital
One Model
$41M
Austin, TX-based provider of HR analytics software

Baird Capital, Jump Capital, LiveOak, NextCoast, TDF
Osano
$25M
Austin, TX-based data privacy management startup

TPG Rise, Clearvision Ventures, NGP, Prelude Ventures, Parkway Ventures, The Rice Investment Group, Bain & Co., EDF, Alumni Ventures, ENEOS Innovation Partners
Persefoni
$50M
Mesa, AZ-based climate management and accounting platform

Intact Ventures, Lightspeed Venture Partners, General Catalyst, Founders Fund
Resilience
$100M
San Francisco, CA-based cyber risk platform

Blue Lion Global, Renegade Partners
Rightfoot
$15M
San Francisco, CA-based data connectivity startup for financial services

Macquarie Capital, Polaris Partners, .406 Ventures, F-Prime Capital Partners
Simon Data
$54M
New York, NY-based customer data platform

OVN Capital, Adit Capital, TSG, Forgepoint Capital
Symmetry Systems
$17.7M
San Jose, CA-based data security posture management startup

NewRoad Capital Partners, Progress Ventures, BDMI, S4S Ventures, Arbour Way Investors
Tracer
$18.1M
New York, NY-based business data aggregation and normalization platform

General Catalyst, Next47
Tractian
$45M
Atlanta, GA-based industrial asset monitoring startup

Temasek, Shell Ventures, Bidra Innovation Ventures, BlueScope, Galp, Samsung Venture Investment, Toppan Ventures, Tupras Ventures, Yara Growth Ventures, Zeon Ventures
Verdagy
$73M
Moss Landing, CA-based developer of electrolyzer tech for industrials

Capital One Ventures, ServiceNow
Veza
$15M
Los Gatos, CA-based identity management platform

Smith Point Capital, Citi
Virtualitics
$37M
Pasadena, CA-based data analytics and 3D visualization platform

Daniel Gross, Nat Friedman, Coatue, Insight Partners, Felicis, BOND, BloombergBeta
Weights & Biases
$50M
San Francisco, CA-based ML ops platform

The Scherzer Deal Report: July 31-August 4, 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

Energize Capital
$300M
Second growth fund

Glendower Capital
$5.8B
Fifth opportunities fund

Kimmeridge
$1B
Sixth fund

NATO
€1B
Innovative NATO Defense Tech Fund

SK Capital Partners
$800M
Second Catalyst fund

Tuesday Capital
$31M
Fifth seed-stage fund

Whitehorse
$5B+
Fifth fund

Yosemite
$200M
Debut fund

Private Equity Deals

Monroe Street Partners
Brandito
Undisclosed
Richmond, VA-based promotional products platform

Angeles Equity Partners
Custom Goods
Undisclosed
Carson, CA-based provider of asset-light logistics services

HCI Equity Partners
Custom Lawn Care
Undisclosed
Butler, PA-based residential lawn care company

TPG Rise Climate, Global Principal Partners
Hybar
$700M
Osceola, AR-based metal recycler

KKR
Industrial Physics
Undisclosed
New Castle, DE-based maker of testing and measurement instruments

Arlington Capital Partners
Integrated Data Services
Undisclosed
El Segundo, CA-based provider of software for federal government customers

Francisco Partners, TPG
New Relic
$6.5B
San Francisco, CA-based observability platform

InTandem Capital Partners
OrthoNebraska
Undisclosed
Omaha, NE-based hospital focused on musculoskeletal care

City Capital Ventures
SERVPRO of Saginaw
Undisclosed
Saginaw, MI-based franchisee of SERVPRO, provider of residential and commercial property restoration services

Palladium Equity Partners
Superior Environmental Solutions
Undisclosed
Cincinnati, OH-based provider of industrial cleaning services

TSG Consumer Partners
Trinity Solar
Undisclosed
Warwick, RI-based residential solar and battery storage developer

Venture Capital Deals

Playground Global, Andreessen Horowitz, Eli Lilly, the Retinal Degeneration Fund, Hummingbird Ventures, Pillar VC
Amber Bio
$26M
San Francisco, CA-based developer of multi-kilobase gene editing platforms

Foresite Capital, TCGX, Avidity Partners, BVF Partners, Janus Henderson Investors, Acorn Bioventures, Ally Bridge Group, Decheng Capital, Longitude Capital, Malin Corp., RA Capital Management
CG Oncology
$105M
Irvine, CA-based developer of immunotherapies for bladder cancer

Forgepoint Capital
Converge Insurance
$15M
New York, NY-based cyber risk management and underwriting startup

Blackbird Ventures, King River Capital, Spider Capital, January Capital, Summit Peak Ventures
Cyble
$24M
Alpharetta, GA-based cyber threat intelligence provider

Lightspeed Venture Partners, Coatue, Dell Technologies Capital, Section 32
Endor Labs
$70M
Palo Alto, CA-based code and pipeline governance platform

Breakthrough Energy Ventures, Global Founders Capital, NJP Ventures
Equilibrium Energy
$33M
San Francisco, CA-based startup renewable power company

WindRose Health Investors
Healthmap Solutions
$100M
Tampa, FL-based population health management company focused on kidney disease.

JAZZ, B-Flexion, Amboy Street Ventures
HerMD
$18M
Cincinnati, OH-based women’s health provider

Guidepost Growth Equity
Intellum
$25M
Atlanta, GA-based enterprise learning management company

Bain Capital Life Sciences, GordonMD Global Investments, Gilead Sciences, Westlake Village BioPartners, Vida Ventures, Northpond Ventures, RTW Investments, Insight Partners, CAM Capital, LYFE Capital, jVen Capital
Kyverna Therapeutics
$60M
Emeryville, CA-based developer of cell therapies for autoimmune diseases

Ally Bridge Group, Transformation Capital, Care Capital, Omega Venture Partners, Matter Venture Partners, Delta Dental of California, the American Association of Orthodontics
LightForce Orthodontics
$80M
Burlington, MA-based maker 3D-printed dental devices

NextView Ventures, Khosla Ventures, Founders Fund, Steve McLaughlin, Steve Pagliuca, Nextera Energy
Lula
$35.5M
Miami, FL-based insurtech startup

Bessemer Venture Partners, Switch Ventures
Luxury Presence
$19.2M
Santa Monica, CA-based provider of growth marketing solutions for real estate pros

March Capital, Sanabil Investments, Prosperity7, Solutions by STC, Liberty Global Ventures, 8VC, Geodesic Capital, FirstU Capital, Valor Equity Partners
Nile
$175M
San Jose, CA-based enterprise connectivity startup

Novartis, Hikma Ventures, Intermountain Ventures, Blue Venture Fund, Echo Health Ventures, Section 32, Northpond Ventures, Deerfield Management, Casdin Capital, Merck Global Health Innovation Fund
Octave Bioscience
$30M
Menlo Park, CA-based biotech focused on multiple sclerosis

Victory Park Capital
Petal
$20M
Atlanta, GA-based consumer credit card startup

Andreessen Horowitz, Abstract Ventures, Michael Ovitz, Elad Gil
Socket
$20M
San Francisco, CA-based software security startup

HSBC, AYTK Ltd., LUN Partners Group, Fuel VC, Doha VC, Notion Capital, IDC Ventures, The Private Shares Fund
Tradeshift
$70M
New York, NY-based B2B payments and supply chain startup

Autodesk, HG Ventures, PureTerra, Arosa Capital, Riverstone Holdings
Transcend
$20M
Princeton, NJ-based maker of generative design software for sustainable infrastructure

Insight Partners, MemorialCare, Healthcare of Ontario Pension Plan, Clal
TytoCare
$49M
New York, NY-based virtual home care company

Good Growth Capital, IAG Capital Partners
VenoStent
$16M
Houston, TX-based-based developer of vascular support devices

The Scherzer Deal Report: July 24-28, 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

Bansk Group
New York, NY
$800M
Debut fund

Certares Management
New York, NY
$284M
First real estate hospitality fund

Comvest Partners
West Palm Beach, FL
$2B
Sixth flagship credit fund

Goodwater Capital
Burlingame, CA
$1B
Fifth early-stage fund and third opportunity fund

Polychain Capital
San Francisco, CA
$200M
Fourth fund

Supply Change Capital
Los Angeles, CA
$40M
Debut fund

Titletown
Tech Green Bay, WI
$70M
Second fund

Valhalla Ventures
Los Angeles, CA
$66M
Debut fund

Private Equity Deals

PSG
AppHub
$95M
New York, NY and San Francisco, CA-based e-commerce software company

Warburg Pincus, Centerview
Banc of California
$400M
Two California regional banks, Banc of California and PacWest, are merging under the former’s brand.

Haveli Investments, General Atlantic
Certinia
Undisclosed
San Jose, CA-based services business software provider

Oaktree Capital Management
Magnolia Wash Holdings
Undisclosed
Charlotte, NC-based chain of car wash locations

Everstone Capital, Recognize
MediaMint
Undisclosed
San Francisco, CA-based digital advertising operations provider

Apollo Global Management
PetSmart
Undisclosed
Phoenix, AZ-based chain of pet stores

TT Capital Partners
Pyx Health
Undisclosed
Tuscon, AZ-based provider of social interactions

H.I.G. Capital
RBmedia
Undisclosed
Landover, MD-based audiobook publisher

Bain Capital, Valeas Capital Partners
Ren
Undisclose
Indianapolis, IN-based provider of software for managing donor-advised funds

Rithm Capital
Sculptor Capital Management
Undisclosed
New York, NY-based asset manager

TopBuild
Specialty Products and Insulation
Undisclosed
Charlotte, NC-based mechanical, building, and spray foam insulation products supplier.

Alpine Investors
Vertex Service Partners
Undisclosed
Charlotte, NC-based residential improvement business

Venture Capital Deals

Perceptive Xontogeny Ventures, Madrona, Breakout Ventures
A-Alpha Bio
$22.4M
Seattle, WA-based synthetic biology and machine learning company

Breakthrough Energy Ventures, Climate Investment, Beazer Homes, Aramco Ventures, Building Ventures, 2150, Energy Impact Partners
Aeroseal
$67M
Miamisburg, OH-based sealant manufacturer

Mountain Group Partners, Canvas Ventures, Headline, Burst Capital, Bob Antin
Airvet
$18.2M
Los Angeles, CA-based telehealth veterinary startup

Sequoia Capital
Collaborative Robotics
$30M
Santa Clara, CA-based robot maker

L Catterton, Bessemer Venture Partners, Imaginary Ventures
GlossGenius
$28M
New York, NY-based beauty business management software company

Kineticos Ventures
Kincell Bio
$36M
Gainesville, FL-based cell therapy development and manufacturing company

Generation Investment Management
OneTrust
$150M
Atlanta, GA-based ESG data company

CPMG, Vivo Capital, First Round Capital, Manta Ray Ventures, Alumni Ventures, Asahi Kasei
Ossium Health
$52M
San Francisco, CA-based bioengineering company

Evolution Equity Partners, Salesforce Ventures, Acrew Capital, boldstart ventures, Knollwood Capital, Pelion Ventures
Protect AI
$35M
Seattle, WA-based AI security startup

Vista Credit Partners
RapidAI
$75M
San Mateo, CA-based vascular and neurovascular conditions diagnostics company

The Significance of Background Screening in SEC’s Proposed Rule for Private Fund Managers

In an ever-evolving financial landscape, the Securities and Exchange Commission (SEC) last year proposed a new rule for regulating and monitoring the activities of investment advisors and private fund managers. The reforms, which are pending, are designed to protect private fund investors by increasing their visibility into certain practices, establishing requirements to address practices that have the potential to lead to investor harm, and prohibiting adviser activity that is contrary to the public interest and protection of investors.

The rule aims to impose stricter requirements on private fund advisors, including more comprehensive reporting and disclosure mandates, risk management measures, and operational safeguards. Although not mentioned specifically, it can easily be inferred that background screening will play an integral part in complying with the rule.

Background screening serves as an essential risk management tool that allows investment firms and the SEC to assess the integrity and competence of individuals seeking to become private fund advisors. By conducting thorough background checks, potential red flags can be identified early on, ensuring that only qualified and trustworthy professionals are entrusted with managing private funds. The following are some key reasons why background screening is relevant to the SEC’s proposed rule:

      • Investor Protection – Private fund advisors hold significant influence over their clients’ investment decisions and assets. Background screening helps identify any past misconduct or disciplinary actions, safeguarding investors from potential fraudulent schemes or unethical practices.
      • Regulatory Compliance – The rule demands increased compliance from private fund advisors. Implementing stringent background screening procedures will facilitate adherence to these regulations and ensure the eligibility of those operating within the private fund industry.
      • Market Integrity – A robust background screening process strengthens market integrity by weeding out bad actors who could potentially tarnish the reputation of the private fund industry. This fosters trust among investors and stakeholders, promoting a healthy and sustainable financial ecosystem.
      • Risk Mitigation – Background screening helps mitigate operational risks associated with hiring individuals with questionable backgrounds. Identifying potential risks early can prevent potential legal and financial liabilities that may arise due to non-compliance or misconduct.
      • Risk Management – For private fund advisors, maintaining a positive reputation is critical for attracting new investors and retaining existing clients. Background screening assists in upholding a firm’s reputation by ensuring the integrity of its team members.
      • Consistency with Other Industries – Background screening is a standard practice in many sectors of the financial industry, such as banking and accounting, and extending background screening to private fund advisors aligns this sector of the financial industry with prevailing best practices in risk management and compliance.

    As the SEC finalizes its proposed rule, it is essential for private fund advisors to adopt background screening as a proactive measure that not only aligns with regulatory expectations but also contributes to their reputation as responsible and reliable investment professionals. In doing so, the private fund industry can continue to thrive and attract investors with the assurance of a well-regulated and trustworthy financial environment.

    The Scherzer Deal Report: July 17-21, 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

    Adverb Ventures
    $75M
    Debut fund

    Angelo Gordon
    $1B+
    AG Asset-Based Credit Fund

    Bain Capital Insurance
    $1.15B
    Debut fund

    Bracket Capital
    Los Angeles, CA
    $450M
    Third set of flagship fund ($150M) and co-invest fund ($300M)

    CoinFund
    $158M
    Newest crypto-focused venture fund

    Davidson Kempner Capital Management
    $3B
    Sixth opportunities fund

    Pure Ventures
    San Francisco, CA
    $20M
    Second fund

    Westlake Village BioPartners
    Los Angeles, CA
    $450M
    Third fund

    Private Equity Deals

    KKR
    Chase Corporation
    $1.3B
    Westwood, MA-based manufacturer of protective material

    Tonka Bay Equity Partners
    Corporate Technologies
    Undisclosed
    Minneapolis, MN-based IT managed services provider

    IMB Partners
    eTelligent Group
    Undisclosed
    Leesburg, VA-based government IT company

    Incline Equity Partners
    GME Supply Co.
    Undisclosed
    Columbia, MO-based distributor of fall protection, safety, and productivity equipment

    Entrepreneurial Equity Partners
    MBC Companies
    Undisclosed
    McDonald, TN-based frozen breakfast foods provider

    TPG
    Nextech
    $1.4B
    Tampa Bay, FL-based physician practice software provider

    Kohlberg & Co.
    Riveron
    Undisclosed
    Dallas, TX-based business advisory

    Platinum Equity
    The HC Companies
    Undisclosed
    Twinsburg, OH-based North American manufacturer of horticultural containers

    Venture Capital Deals

    8VC, GC1 Ventures
    Anduin
    $15.6M
    San Francisco, CA-based maker of tools for private market transaction

    Argonautic Ventures, Metaplanet, other investors
    Cognaize
    $18M
    New York, NY-based fintech data processing startup

    Sapphire Ventures, YC, Wayfinder Ventures, Burst Capital, Cabra VC, Davidovs VC
    Collectly
    $29M
    Santa Monica, CA-based patient financial engagement software company

    Solana, Polygon
    Cosmic Wire
    $30M
    Miami, FL-based blockchain startup

    10T Holdings, Ripple
    Futureverse
    $54M
    Los Angeles, CA-based AI and metaverse technology and content startup

    Lightspeed Venture Partners, Krafton
    Gardens
    $31.3M

    Los Angeles, CA-based gaming studio

     

    Michael Cline, Juxtapose
    Herself Health
    $16M
    New York, NY-based women’s health care company

    Bain Capital Ventures, ICONIQ Capital, Amplify Partners
    Hightouch
    $38M
    San Francisco, CA-based data infrastructure startup

    SignalFire, Union Square Ventures, CRV, GGV, Commerce Ventures, Dreamers VC
    Karat
    $40M
    Los Angeles, CA-based maker of fintech tools for content creators

    General Atlantic’s BeyondNetZero, KKR, Generation Investment Management
    o9 Solutions
    $116M
    Dallas, TX-based supply chain planning and demand forecasting company

    Horizon Capital, Reach Capital, Hoxton Ventures
    Preply
    $70M

    Brookline, MA-based online language learning marketplace

     

    Mainsail Partners
    ProShop
    $32M
    Bellingham, WA-based machine shop software provider

    Blockchain Capital, Bain Capital, Galaxy Digital, Fenbushi Capital, Delphi Digital
    Risc Zero

    $40M
    Seattle, WA-based blockchain technology startup

     

    Initialized Capital, Elad Gil, Jason Tan
    Runway
    $27.5M
    San Francisco, CA-based startup financial planning tools maker

    Wellington Management, Greenoaks Capital Partners, D1 Capital Partners, Imaginary Ventures
    Skims
    $270M
    Los Angeles, CA-based shapewear company founded by Kim Kardashian

    Bioluminescence Ventures, with KdT Ventures, Piedmont Capital, 8VC, Alumni Ventures, Camford Capital, Cancer Research Institute, Intuitive Ventures, Khosla Ventures, Pitango HealthTech
    Surge Therapeutics
    $32M

    Boston, MA-based biotech company

     

    8VC, Prologis Ventures, RyderVentures, NFI Ventures, Lineage Logistics, Vehicle Velocity Group, the Friedkin Group International, 9Yards, Northstar.vc, Amplifier, MS&AD Ventures
    Terminal Industries
    $17M
    Austin, TX-based logistics management software startup

    Madrona, Bain Capital Ventures, M12 Ventures, Mango Capital, MongoDB Ventures, Shield Capital, Harrison Chase, Bob van Luijt, Josh Lefkowitz
    Unstructured
    $25M
    Sacramento, CA-based large language data management startup

    Insight Partners, Zinal Growth, Peter Thiel, Justin Mateen, Justin Kan, The Chainsmokers, Vivek Ranadive, David Blitzer, Josh Richards, Griffin Johnson, James Harden, Cory Levy, Josh Browder
    Whop.com
    $17M
    New York, NY-based marketplace for digital products

    Battery Ventures, Grove Ventures, StageOne Ventures, Secret Chord Ventures, Cerca Partners, Operator Partners, angel investors
    Wing Cloud
    $20M
    New York, NY-based open-source software company

    Scherzer International sponsors the Sunflower Wine Festival 2023

    This year SI is one of the sponsors of Prayers From Maria Foundation’s annual Sunflower Wine Festival held on July 8, 2023. Prayers From Maria is a charity based in Rocky River, Ohio, dedicated to funding global research into the causes, prevention, treatments, and cure for the deadliest childhood brain tumors known as gliomas.

    Ed and Megan McNamara started “Prayers From Maria Children’s Cancer Foundation” after their daughter Maria passed away in 2007 from glioma, a cancer of the brain, or brain tumor, which forms in the glial cells of the central nervous system.

    Glial cells are those that surround and support nerve cells. While some brain cancers originate elsewhere in the body, gliomas originate in the central nervous system. They are often called “primary” brain tumors. That is dedicated to funding global research into the causes, prevention, treatments, and cure for deadly childhood brain tumors.

    The foundation has a Medical Board comprising some of the country’s best doctors for this disease. Because childhood brain tumor research is underfunded, the McNamara family is diligently working to make a difference by raising public awareness and bringing hope to children and their families affected by this disease.

    Please visit their website for more information on the Prayers From Maria Foundation.

    The Scherzer Deal Report: July 10-14, 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

    Albion River
    $400M
    New Albion Platform Holdings to support Defense and fund US and allied military customers

    Alpine Investors
    $4.5B
    Ninth fund

    Antares Capital
    $6B
    The second senior loan fund

    Audax Private Equity
    $7.8B
    Seventh flagship PE fund ($5.25B) and its first lower midmarket fund ($774M)

    Cordillera
    $443M
    Third fund

    Distributed Ventures
    $100M
    Debut fund

    Long Ridge Equity Partners
    $730M
    Fourth fund

    May River Capital
    $500M
    Third fund

    Modi Ventures
    $32M
    Debut fund

    Morgenthaler Private Equity
    $633M
    Fourth fund

    North Branch Capital
    $213M
    Second fund

    Prime Coalition and Azolla Ventures
    $239M
    Climate tech VC fund

    RCP Advisors
    $797M
    Fourth, PE secondary opportunities fund

    Sheridan Capital Partners
    $575M
    Third fund

    Shore Capital Partners
    $640M+
    First industrial-focused PE fund ($208M) and its fifth health care fund ($436M)

    SineWave Ventures
    $160M
    Third fund

    Suffolk Technologies
    $110M
    Debut fund

    The Raine Group
    $760M
    Fourth growth equity fund

    The Riverside Company
    $350M
    New lower mid-market fund

    Welsh, Carson, Anderson & Stowe
    $5B+
    14th flagship fund

    WindRose Health Investors
    $1.4B
    Sixth fund

    Wing VC
    $600M
    Fourth fund

    Private Equity Deals

    Great Mountain Partners
    Amplify Pictures
    Undisclosed
    Los Angeles, CA-based independent TV studio

    Cinven
    Archer
    Undisclosed
    Overland Park, KS-based provider of risk management software

    Stone-Goff Partners
    BigScoots
    Undisclosed
    Chicago, IL-based provider of managed web hosting solutions

    Genspring
    Bradford Soap International
    Undisclosed
    West Warwick, RI-based maker of beauty and personal care products

    Ancor Capital Partners, Merit Capital Partners
    Displayit
    Undisclosed
    Irvine, CA-based provider of trade show displays

    TPG
    Forcepoint
    $2.45B
    Austin, TX-based government cybersecurity unit

    RedBird Capital Partners
    Go Rentals
    Undisclosed
    Atlanta, GA-based luxury car rental provider

    HCI Equity Partners
    Grasshopper Lawns
    Undisclosed
    Larksville, PA-based provider of residential lawn care services

    Riverwood Capital, Endeavor Catalyst
    InvGate
    $35M
    Claymont, DE-based IT management firm

    Olympus Partners
    MEI Rigging & Crating
    Undisclosed
    Houston, TX-based national provider of rigging and machinery moving, millwrighting, industrial storage, and equipment crating

    Arlington Capital Partners
    Pegasus Steel
    Undisclosed
    Goose Creek, SC-based provider of fabricated steel structures used for the construction of submarines and aircraft carriers

    Symphony Technology Group
    Wrike
    Undisclosed
    San Diego, CA-based collaborative work management platform

    Sverica Capital Management
    Zyston
    Undisclosed
    Dallas, TX-based provider of security posture and program management maturity solution

    Venture Capital Deals

    Great Mountain Partners
    Amplify Pictures
    Undisclosed
    Los Angeles, CA-based independent TV studio

    Cinven
    Archer
    Undisclosed
    Overland Park, KS-based provider of risk management software

    Stone-Goff Partners
    BigScoots
    Undisclosed
    Chicago, IL-based provider of managed web hosting solutions

    Genspring
    Bradford Soap International
    Undisclosed
    West Warwick, RI-based maker of beauty and personal care products

    Ancor Capital Partners, Merit Capital Partners
    Displayit
    Undisclosed
    Irvine, CA-based provider of trade show displays

    TPG
    Forcepoint
    $2.45B
    Austin, TX-based government cybersecurity unit

    RedBird Capital Partners
    Go Rentals
    Undisclosed
    Atlanta, GA-based luxury car rental provider

    HCI Equity Partners
    Grasshopper Lawns
    Undisclosed
    Larksville, PA-based provider of residential lawn care services

    Riverwood Capital, Endeavor Catalyst
    InvGate
    $35M
    Claymont, DE-based IT management firm

    Olympus Partners
    MEI Rigging & Crating
    Undisclosed
    Houston, TX-based national provider of rigging and machinery moving, millwrighting, industrial storage, and equipment crating

    Arlington Capital Partners
    Pegasus Steel
    Undisclosed
    Goose Creek, SC-based provider of fabricated steel structures used for the construction of submarines and aircraft carriers

    Symphony Technology Group
    Wrike
    Undisclosed
    San Diego, CA-based collaborative work management platform

    Sverica Capital Management
    Zyston
    Undisclosed
    Dallas, TX-based provider of security posture and program management maturity solution

    The Scherzer Deal Report: July 3-7, 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

    Altas Partners
    Toronto, Canada
    $4B
    Third flagship buyout fund

    Insight Partners
    New York, NY
    $118M
    Second VC fund-of-funds

    KLH Capital Partners
    Tampa, FL
    $400M
    Fifth fund

    Thayer Street
    New York, NY
    $275M
    Third lower mid-market PE fund

    Private Equity Deals

    Addison Capital Partners
    Communication Power Companies
    Undisclosed
    Hauppauge, NY-based manufacturer of RF and microwave power amplifiers

    Golden Gate Capital
    DMC Power
    Undisclosed
    Carson, CA-based supplier of high-voltage connectors to the utility sector

    ArcLight Capital Partners
    Duke Energy
    $364M
    Charlotte, NC-based energy holding company’s commercial distributed generation business

    Monroe Capital
    Horizon Technology Finance Management
    Undisclosed
    Farmington, CT-based venture debt lender

    Balcor Cos.
    Kaizen Clean Energy
    Undisclosed
    Tomball, TX-based developer of hydrogen-based distributed energy resources

    Rosemont
    Landmark Management
    Undisclosed
    New York, NY-based multi-family office

    Lindsay Goldberg
    Lightwave Dental
    Undisclosed

    Woodbridge, VA-based dental service organization

     

    Gauge Capital
    Loving Tan

    Undisclosed

    Brisbane, CA-based sunless tanning products brand

    Auxo Investment Partners
    SOS Manufacturing
    Undisclosed
    Roberts, WI-based manufacturer and supplier of custom wire harnesses and cable assemblies

     

     

    Lone Star Funds
    Titan Acquisition Holdings
    Undisclosed
    Portland, OR-based provider of ship repair services and marine fabrication

    Man Group
    Varagon Capital Partners
    $183M
    New York, NY-based mid-market private credit firm

    GTCR
    Worldpay
    Undisclosed

    Venture Capital Deals

    Undisclosed investors
    Benchmark Space Systems
    $33.2M
    Burlington, VT-based developer of in-space propulsion solutions

    Thrive Capital, Upfront Ventures, Kairos
    Clair
    $175M
    New York, NY-based advance payment fintech for frontline and gig workers

    USVP
    Luminopia
    $16M
    Cambridge, MA-based provider of digital therapeutics for neuro-visual disorders

    Zigg Capital, Matrix Partners, Koch Real Estate Investments, Clocktower Technology Ventures, Nine Four Ventures
    Steadily
    $28.5M
    Beaverton, OR-based landlord insurance startup

    The Scherzer Deal Report: June 26-30, 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

    Arboretum Ventures
    $268M
    Sixth fund

    BV Investment Partners
    $1.46B
    11th flagship fund

    Haystack
    $75M
    Seventh fund

    Joyful Ventures
    $23M
    Fund focused on alternative protein startups

    KCRise Fund
    $34M
    Third fund

    Kindred Ventures
    $310M
    Third flagship fund ($200M) and first opportunities fund ($110M)

    Pronghorn
    $200M
    Black-owned spirits makers

    Springbank
    $35M
    Fund focused on infrastructure serving women and working families

    Unshackled Ventures
    $35M
    Third fund

    Varsity Healthcare Partners
    $700M
    Fourth fund

    Wellington Management
    $2.6B
    Fourth late-stage VC fund

    Private Equity Deals

    Congruent Investment Partners
    AAA Fabrication
    Undisclosed
    Kemp, TX-based provider of custom metal fabricated products

    H.I.G. Capital
    Advanced Dental Brands
    Undisclosed
    Canton, MA-based dental partnership organization

    General Atlantic
    Authentic Brands Group
    $500M
    New York, NY-based brand management company

    Thomson Reuters
    Casetext
    $650M
    San Francisco, CA-based AI assistant for lawyers

    Brookfield Infrastructure Partners, Ontario Teachers’ Fund
    Compass Datacenters
    Undisclosed
    Dallas, TX-based company that provides solutions for Cloud & SaaS, Enterprise, Colocation, and Edge/ Distributed Infrastructure

    Norwest
    HighFive Healthcare
    $100M
    Homewood, AL-based specialty dental partnership organization focused on endodontics and oral surgery.

    Ilion Capital Partners
    Mid States Supply
    Undisclosed
    Kansas City, MO-based provider of valves, pipes, and fittings

    ArtesRx
    Parkview Health Services
    Undisclosed
    Amherst, NY-based provider of specialized pharmacy services

    Silver Lake and CPPIB
    Qualtrics
    Undisclosed
    Provo, UT-based maker of survey and customer experience software

    Mainsail Partners
    Red Oak Compliance Solutions
    $51M
    Austin, TX-based provider of compliance software

    Trinity Hunt Partners
    REQ
    Undisclosed
    Washington, DC-based digital marketing and advertising company

    Comvest Partners
    Your Behavioral Health
    Undisclosed
    Torrance, CA-based behavioral health services firm

    Venture Capital Deals

    CRV, Bessemer Venture Partners, F2 Venture Capital
    Astrix Security
    $25M
    New York, NY-based startup for securing app-to-app connections

    CPMG, Evidity Health Capital, H.I.G. Capital, Revival Healthcare Capital, Almeda Ventures
    Augmedics
    $82.5M
    Arlington Heights, IL-based AR navigation platform for spinal surgeries

    General Atlantic, Flare Capital Partners
    Author Health
    $115M
    Boston, MA-based provider of services for Medicare Advantage members with serious mental illness and substance use disorders

    LB Investment, Ignite Innovation Fund, Krossroad Partners, SoftBank Ventures Asia
    B Garage
    $20M
    San Jose, CA-based developer of autonomous warehouse drones

    Paladin Capital Group, Lockheed Martin Ventures, Hakluy Capital, Expeditions Fund, Auren Hoffman, Anne, and Susan Wojcicki
    CalypsoAI
    $23M
    San Mateo, CA-based AI testing and security startup

    B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight
    Cart.com
    $60M
    Austin, TX-based provider of e-commerce enablement solutions

    IAG Capital Partners, Koch Disruptive Technologies, Temasek
    Celestial AI
    $100M
    Santa Clara, CA-based photonic fabric startup

    Ten Eleven Ventures, Advent International, Zscaler, Emerald Development Managers, Prelude, Great Road Holdings
    Cyware
    $30M
    Jersey City, NJ-based threat intelligence platform

    Dohmen Company Foundation
    Everytable
    $25M
    Los Angeles, CA-based subscription meal service startup

    Caffeinated Capital, Emergence Capital, Pear VC
    Federato
    $25M
    Palo Alto, CA-based underwriting platform for the insurance industry

    EQT Ventures, Andreessen Horowitz, Dell Capital, Intel Capital
    Fly.io
    $70M
    Chicago, IL-based app delivery network

    Novalis LifeSciences, Nvidia, Invenshure, 8VC, Beringea, HP Enterprise, Intuitive Ventures, iSelect, Gundersen Health System, Seraph, Great North Ventures
    Flywheel
    $54M
    Minneapolis, MN-based medical imaging data platform

    Nvidia, Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt
    Inflection AI
    $1.3B
    Palo Alto, CA-based developer of a personal chatbot called Pi

    One Peak, Senovo, Presto Ventures
    IP Fabric
    $25M
    New York, NY-based automated network assurance startup

    QED Investors, Tresalia Capital, Amador Holdings, NFX, Tiger Global, ALLVP
    Nuvocargo
    $36.5M
    New York, NY-based provider of U.S.-Mexico cross-border freight services

    OpenView, Flexport, Webflow, Matrix Partners, Thrive Capital
    Parabola
    $24M
    San Franciso, CA-based workflow automation startup

    LL Funds, RET Ventures
    Picket
    $20M
    Nashville, TN-based residential real estate investing startup

    Scopia Capital, Jefferson River Capital
    PM Pediatric Care
    $50M
    New Hyde Park, NY-based hybrid pediatric care provider

    GV, Lightspeed Venture Partners, Haystack
    Redpanda
    $100M
    San Francisco, CA-based data streaming startup

    DST Global Partners, Radical Ventures, Snowflake Ventures
    Reka
    $58M
    Sunnyvale, CA-based developer of custom enterprise AI models

    Homebrew, Stage 2 Capital, Wing VC, Underscore VC, Active Capital, Collide Capital, Tom Colichio, Scott Belsky
    Slang.ai
    $20M
    New York, NY-based phone answering product

    Salesforce Ventures, Lightspeed Venture Partners, Madrona, GV, Menlo Ventures, M12
    Typeface
    $100M
    San Francisco, CA-based provider of generative AI for the enterprise

    Tiger Global, South Park Commons
    Unit21
    $45M
    San Francisco, CA-based fraud detection startup

    New Spring Capital
    Venn Software
    $29M
    New York, NY-based provider of employee cybersecurity and compliance SaaS

    Ampersand Capital Partners, Charles River Labs, Dynamk Capital, the Vermont Center for Emerging Technologies
    Vernal Biosciences

    $20M
    Colchester, VT-based mRNA, and LNP contract development and manufacturer

    Volition Capital
    Zenarate
    $15M
    Palo Alto, CA-based provider of simulation training software for improving sales agent performance

    The Scherzer Deal Report: June 19-23, 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

    Boost Capital Partners
    $35M
    Debut fund

    Dropbox
    $50M
    AI-focused venture fund

    GrowthCurve Capital
    $1.4B
    Debut fund

    Stone-Goff Partners
    $175M
    Fourth fund

    Private Equity Deals

    Flexpoint Ford
    Baker Hill
    Undisclosed
    Carmel Hill, IN-based provider of loan origination and risk management software

    Lone Star Funds
    CentroMotion
    Undisclosed
    Waukesha, WI-based maker of precision motion control and engineered systems for the industrial and transport markets

    Arbor Investments
    Golden Malted and Heartland Waffles
    Undisclosed
    South Bend, IN- and Westwood, KS-based providers of waffle irons and waffle mix to the hospitality and foodservice industries

    Brand Velocity Group
    Jaya Apparel Group
    Undisclosed
    Vernon, CA-based owner of the Cinq à Sept and Likely brands

    Arctos Sports Partners and Harris Blitzer Sports & Entertainment
    Joe Gibbs Racing
    Undisclosed
    Charlotte, NC-based leader in NASCAR racing

    Vistria Group
    MGT
    Undisclosed
    Tampa, FL-based social impact and performance improvement consultancy

    Bernhard Capital Partners
    Optimum Energy
    Undisclosed
    Seattle, WA-based provider of HVAC optimization solutions

    Blackstone
    Invenergy
    $1B
    Chicago, IL-based renewable energy developer

    Levine Leichtman Capital Partners
    SEV
    Undisclosed
    Burbank, CA-based med spa operator

    Harvest Partners
    Sparq
    Undisclosed
    Atlanta, GA-based provider of outsourced digital engineering solutions

    Topspin Consumer Partners
    Three Dog Bakery
    Undisclosed
    Kansas City, MO-based humanized dog treat maker

    Kelso & Co.
    Valenz Health
    Undisclosed
    Phoenix, AZ-based medical cost containment firm

    Venture Capital Deals

    Barings
    Accelerant
    $150M
    Atlanta, GA-based insurance risk exchange

    8VC, Sherpalo Ventures, Guillermo Rauch
    Acryl Data
    $21M
    Mountain View, CA-based enterprise data catalog platform

    Lightspeed Venture Partners, Venrock, OMERS Growth Equity, Fidelity, Avidity Partners
    Aledade
    $260M
    Bethesda, MD-based network of primary care practices

    Andreessen Horowitz, Shield Capital
    Apex Space
    $16M
    City, CA-based satellite bus manufacturer

    Frazier Life Sciences, venBio, Illumina Ventures
    Attovia Therapeutics
    $60M
    Fremont, CA-based biotech focused on immune-mediated disease and cancer

    Kleiner Perkins, Sequoia Capital, Andreessen Horowitz, SV Angel
    Captions
    $25M
    New York, NY-based video editing app

    Maveron, GV, 7wireVentures, Hopelab Ventures, Wellington Partners, Ingeborg Investments, The Venture Collective
    Caraway
    $16.75M
    New York, NY-based provider of women’s mental, physical, and reproductive health services

    Iconiq Growth, Transformation Capital, Kaiser Permanente Ventures, Define Ventures, Frist Cressey Ventures, SpringRock Ventures
    DexCare
    $75M
    Seattle, WA-based patient demand and care access platform

    Andreessen Horowitz, Nat Friedman, Daniel Gross
    ElevenLabs
    $19M
    New York, NY-based AI voice synthesis platform

    Flagship Pioneering
    Empress Therapeutics
    $50M
    Cambridge, MA-based small molecule drug developer

    Climate Investment, Blackhorn Ventures, Innovation Endeavors, DI Technology
    Fero Labs
    $15M
    New York, NY-based provider of manufacturing process optimization software

    Fall Line Capital
    Guardian Agriculture
    $20M
    Woburn, MA-based maker of large crop-dusting drones

    Headline, GGV Capital, Footwork, Founders’ Co-Op, Act One, Heron Rock
    Heard Technologies
    $15M
    Seattle, WA-based provider of therapist accounting tools

    Norwest, Krowten Capital, Jemison Investment Co.
    HighFive
    $100M
    Birmingham, AL-based specialty dental partnership organization focused on endodontics and oral surgery.

    T. Rowe Price, BOND, Standard Investments, Equinor Ventures, a16z, Breakthrough Energy Ventures, BHP Ventures, Mitsubishi Corporation, Earthshot Ventures, the July Fund
    KoBold Metals
    $195M
    Berkeley, CA-based EV battery mineral exploration company

    Goldman Sachs Growth Equity
    Limble
    $58M
    Lehi, UT-based physical asset tracking startup

    Cigna Ventures, Novo Holdings, Avidity Partners, Health Velocity Capital, Greycroft, Felicis, Company Ventures, Obvious Ventures
    Octave
    $52M
    San Francisco, CA-based hybrid behavioral health company

    Felicis, Sequoia Capital, Harpoon Ventures
    Oso
    $15M
    New York, NY-based authorization platform for developers

    Madrona Venture Group, SpringRock Ventures
    Outbound AI
    $16M
    Seattle, WA-based healthcare billing and claims automation startup

    Bessemer Venture Partners, Addition, General Catalyst, the South Park Commons Fund
    Render
    $50M
    San Francisco, CA-based cloud for app developers and teams

    The family offices of John McFadden and David Dolby
    Sharrow Marine
    $32M
    Detroit, MI-based maker of propellers for boats and ships

    Scale Venture Partners, Amplify Partners, Storm Ventures, Battery Ventures
    System Initiative
    $15M
    San Francisco, CA-based infrastructure automation platform

    Sequoia Capital, GV, BoxGroup, Neo, Dylan Field, Marc Benioff, Jeff Weiner, Sam Altman
    Warp
    $50M
    New York, NY-based modern terminal app

    FPV Ventures, Human Capital, Autotech Ventures, Mark Cuban
    Yendo
    $24M
    Dallas, TX-based provider of credit cards collateralized by car ownership

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