Scherzer Deal Report

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

The Scherzer Deal Report: December 15-31, 2025

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

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

Fundraising for PE & VC Funds

Deerpath Capital Management
$3.5B
Seventh private credit fund

Dragoneer
$4.3B
Seventh venture capital fund

Encore Consumer Capital
$150M
Single-asset continuation fund

JPMorgan Asset Management
$1.44B
Twelfth fund

Lightspeed Venture Partners
$9B+
New funds

S3 Ventures
$250M
Eighth fun

Private Equity Deals

McNally Capital
Airforce Turbine Service
Undisclosed amount
Tynan, TX-based aviation MRO focused on PT6A turboprop engines

Vitruvian Partners
Aquabyte
Undisclosed amount
San Francisco, CA-based aquaculture company

Snapdragon Capital Partners
Better Being
Undisclosed amount
Salt Lake City, UT-based maker of dietary supplements

Permira, Warburg Pincus, Francisco Partners, and Temasek
Clearwater Analytics
$8.4B
Boise, ID-based investment and accounting software maker

Broadwing Capital 
CloudScale365
Undisclosed amount
Newark, DE-based provider of IT managed services for SMB

TPG
Conservice
Undisclosed amount
River Heights, UT-based utility management platform for the property management industry

SharpVue Capital, NewSpring Capital, BPEA Private Equity, North Haven Capital, and Bluwave Capital
Curalta Foot & Ankle
Undisclosed amount
Rochelle Park, NJ-based food and ankle company

Vista Equity Partners

DentiraUndisclosed amount
San Francisco, CA-based procurement and spend management platform for dental practices and multi-site healthcare operators

Charlesbank Capital Partners
Hbox
Undisclosed amount
Southfield, MI-based virtual care platform for specialty practices

Invictus Growth Partners
Informed IQ
Undisclosed amount
San Francisco, CA-based loan verification and fraud prevention company

Bertram Capital 
Left Lane Auto
Undisclosed amount
Champaign, IL-based tire retail and automotive-service platform

Revelar Capital
Letterman’s Energy
Undisclosed amount
Overland Park, KS-based propane distributor

Godspeed Capital
NextPoint Group
Undisclosed amount
Herndon, VA-based provider of technology for the intelligence and defense communities

RFE Investment Partners and Mansfield Investment Partners
NuView
Undisclosed amount
Portsmouth, NH-based managed IT and cybersecurity platform

TA Associates
PairSoft
Undisclosed amount
Miami, FL-based provider of procure-to-pay automation and payment solutions

HCAP Partners
Puzzle Healthcare
Undisclosed amount
Detroit, MI-based post-acute care coordination platform

StoneTree Investment Partners
Reel Power International
Undisclosed amount
Oklahoma City, OK-based provider of engineered winding, spooling, and material-handling equipment

Bain Capital and Mubadala
Service Logic
Undisclosed amount
Charlotte, NC-based provider of commercial HVAC services

Levine Leichtman Capital Partners
USA Industries
Undisclosed amount
Houston, TX-based provider of manufacturer of industrial flow control and testing products

Jordan Partners
Vanguard Claims Administration
Undisclosed amount
Woodbury, NJ-based third-party administration and independent adjusting platform for property and casualty insurance

Copley Equity Partners
Vital Delivery Solutions
Undisclosed amount
Williston, VT-based provider of health care logistics and courier services

Rock Hill Capital and True West Capital Partners
Weathermatic
Undisclosed amount
Garland, TX-based provider of smart irrigation tech

I Squared Capital
Zenith Energy Terminal
Undisclosed amount
Portland, OR-based terminal for renewable diesel and sustainable aviation fuels

Venture Capital Deals

Bain Capital Ventures, NVentures, OpenAI Startup Fund, a16z, Abstract Ventures, Capital One Ventures, and Citi Ventures
Adaptive Security
$81M
New York, NY-based cybersecurity startup focused on deepfake and phishing attacks

SR One, Pivotal Life Sciences, Abingworth, Osage University Partners, the Gates Foundation, and BEVC
Addition Therapeutics
$100M
San Francisco, CA-based genomic medicine company

Luma Group, CTI Life Sciences Fund, Foresite Capital, SymBiosis, TSC Alliance Endowment Fund, Wilson Sonsini, Apollo Health Ventures, Hevolution, Sofinnova Investments, and venBio
Aeovian Pharmaceuticals
$55M
Berkeley, CA-based biotech focused on cellular metabolic quality control

QCA Investment Group, Angel Physicians Fund, and Serial Stage Venture Partners
Alphyn Biologics
$25M
Annapolis, MD-based dermatology biotech

Nextech Invest, The Column Group, Lux Capital, and Regeneron Ventures
Atavistik Bio
$120M
Cambridge, MA-based blood cancer biotech

Oak HC/FT, General Catalyst, Thrive Capital, OpenAI, Dimension, Menlo Ventures, Lachy Groom, Yosemite, Neo, SV Angel, Emerson Collective, and Glade Brook
Chai Discovery
$130M
San Francisco, CA-based developer of AI-designed molecules

CVS Health Ventures, Echo Health Ventures, Sands Capital Management, and 450 Ventures
Codoxo
$35M
Duluth, GA-based health payment integrity startup

Triatomic Capital, Spark Capital, Pillar VC, Susa Ventures, Striker Venture Partners, Hawktail VC, and Olive VC
Edison Scientific
$70M
San Francisco, CA-based developer of “AI scientists” for research

O’Neil Strategic Capital, NSFO, Tanas Capital, and Z21 Ventures
HEN Technologies
$20M
Hayward, CA-based fire suppression tech startup

Sands Capital, Braidwell, Redmile, Perceptive, and Alger
Impulse Dynamics
$158M
Marlton, NJ-based medical devices startup focused on heart failure

Avenir, Linse Capital, Hearst Ventures, Lightbank, Matter Venture Partners, and Sozo Ventures
Kargo
$42M
San Francisco, CA-based warehouse inventory tech startup

Astera Institute, JAM Fund, Gigafund, The Haskell Company, AE Ventures, Ultranative, Galaxy Interactive, and Woori Technology Co.
Last Energy
$100M
Austin, TX-based developer of micro-nuclear reactors

Johnson & Johnson, Samsara BioCapital, Sheatree Capital, and Wing Venture Capital
Link Cell Therapies
$60M
South San Francisco, CA-based oncology cell therapy startup

Springcoast Partners, Upfront Ventures, and JVP
Nanit
$50M
New York, NY-based baby monitor developer

Spectrum Moonshot Fund
Neurable
$35M
Boston-based developer of brain-computer interface AI

Valor Equity Partners, Lightspeed, and General Catalyst
Nirvana Insurance
$100M
San Francisco, CA-based trucking industry insurtech

Valar Ventures, Upper90, Huntington National Bank, Camping World, and Holler-Classic Family
Octane
$100M
New York, NY-based recreational vehicle financing platform

Ares Management
Steward Partners
$475M
New York, NY-based wealth advisor

Hildred, Montreux Growth Partners, Toba Capital, Transformation Capital, and HLM Venture Partners
Tebra
$250M
Corona Del Mar, CA-based EHR platform

A16z, Bessemer Venture Partners, Long Journey Ventures, BoxGroup, and Trust Ventures
Truemed
$34M
Austin, TX-based HSA/FSA marketplace for preventive health products

Interlagos, General Catalyst, Generational Partners, Cantos, Space VC, and Also Capital
Vital Lyfe
$24M
Hawthorne, CA-based developer of portable water desalination

January 7th, 2026|Scherzer Deal Report|

The Scherzer Deal Report: December 8-12, 2025

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

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

Fundraising for PE & VC Funds

Factorial Capital
$25M
Second fund

Holly Ventures
$33M
Debut fund

Swish Ventures
$100M
Opportunity fund

TPG Credit
$6.2B
Third fund

Private Equity Deals

Arcline
Altronic
Undisclosed amount
Girard, OH-based maker of ignition and engine-control products

Shore Rock Partners
AMAG Technology
Undisclosed amount
Hawthorne, CA-based provider of access control and other security solutions

Eagle Merchant Partners
Atlantic Pipe Services
Undisclosed amount
Sanford, FL-based provider of services for stormwater and wastewater infrastructure in Florida

Oaktree Capital Management and Lane42 Investment Partners
Avocet Partners
Undisclosed amount
New York, NY-based insurance-focused investment and operating platform

LNC Partners
Bennie
Undisclosed amount
New York, NY-based employee benefits firm

General Atlantic and CPP Investments
Boats Group
Undisclosed amount
Miami, FL-based online marketplace for recreational boats

Tailwater Capital
Central Midstream Partners
Undisclosed amount
Houston, TX-based energy infrastructure company

Longshore Capital Partners
Enavate
Undisclosed amount
Tampa, FL-based provider of Microsoft implementation and managed services

The Chernin Group
Entangled Publishing
Undisclosed amount
Shrewsbury, PA-based romance publisher

Wind Point Partners
Enviromatic Systems
Undisclosed amount
Grand Prairie, TX-based provider of building management systems

Advent International and Corvex Private Equity
Heidrick & Struggles
Undisclosed amount
Chicago, IL-based executive search firm

Aiga Capital Partners
Highland Electric Fleets
Undisclosed amount
Beverly, MA-based developer of commercial electric buses and trucks

Oak Hill Capital
Hunter Communications
Undisclosed amount
Central Point, OR-based fiber-optic internet provider in Oregon and Northern California

Leonard Green & Partners
Jones Lake Management
Undisclosed amount
Cincinnati, OH-based provider of provider of pond and lake management services

Blackstone
MacLean Power Systems
Undisclosed amount
Ft. Mill, SC-based utility parts maker

Insight Partners
Marketing Evolution
Undisclosed amount
New York, NY-based provider of marketing analytics

Transition Equity Partners
Nexus Data Centers
Undisclosed amount
The Woodlands, TX-based developer of gigascale data centers

SEVA Growth
Pronto
Undisclosed amount
Lehi, UT-based communications platform for front-line employers and higher education institutions

StoneTree Investment Partners
Reel Power
Undisclosed amount
Oklahoma City, OK-based heavy equipment manufacturer

WindRose Health Investors
Stellus Rx
Undisclosed amount
Plano, TX-based pharmacy care management platform

Berkshire Partners
United Flow Technologies
Undisclosed amount
Foothill Ranch, CA-based provider of solutions for the municipal and industrial water and wastewater treatment markets

Bessemer Investors
Xanitos
Undisclosed amount
Newtown Square, PA-based provider of health-care cleaning and support services to hospitals and ambulatory care settings

Venture Capital Deals

Centana Growth Partners, Next Frontier Capital, Rally Ventures, and Impression Ventures
401Go
$33M
Sandy, UT-based retirement program setup platform for financial advisors

Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners
Allonnia
$20M
Boston, MA-based mining biotech startup

Upfront Ventures, BlueYard Capital, and First In Ventures
AnySignal
$24M
El Segundo, CA-based developer of RF platforms for aerospace and defense

Janus Henderson Investors, Brahma Capital, BioTrack Capital, Cormorant Asset Management, OrbiMed, Plaisance Capital Management, and Vivo Capital
BlossomHill Therapeutics
$84M
San Diego, CA-based cancer biotech

Amazon, Koch Disruptive Technologies, Piedmont Capital, Rusheen Capital Partners, and Allen & Co.
Blue Current
$81M
Hayward, CA-based developer of silicon solid-state batteries

8VC, Pear VC, Primary Venture Partners, Tishman Speyer, RXR, Caffeinated Capital, and Merrick Ventures
Bobyard
$35M
San Francisco, CA-based estimates platform for contractors

Darsana Capital Partners, Altimeter Capital, ARK Invest, Bessemer Venture Partners, Robinhood Ventures, and YC
Boom Supersonic
$300M
Centennial, CO-based supersonic jetmaker that’s also using its turbines to power AI data centers

Westbound Equity Partners, Geraldine R. Dodge Foundation, and Blue Meridian Partners
Esusu
$50M
NYC-based credit building startup

Deerfield Management, Khosla Ventures, Sofinnova Partners, Cornucopian Capital, Eli Lilly, Illinois Ventures, and MIT
Excelsior Sciences
$70M
New York, NY-based AI chemistry startup

Sequoia Capital, Kleiner Perkins, NVentures, Alkeon Capital, a16z, Kindred Ventures, Meritech, Bessemer Venture Partners, Notable Capital, Shopify Ventures, and Salesforce Ventures
Fal
$140
MSan Francisco, CA-based generative media platform

B Capital and Google
Fervo Energy
$462M
Houston, TX-based geothermal energy developer

Goldman Sachs, IVP, Menlo Ventures, and Unusual Ventures
Harness
$240M
San Francisco, CA-based software delivery platform

Giant Ventures, California Infrastructure Bank, Carnrite Ventures, Chaac Ventures, Comcast Ventures, and Lerer Hippeau
Haven Energy
$15M
Austin, TX-based solar and home battery tech company

Gallatin Point Capital
Hometap
$50M
Boston, MA-based provider of home equity investment products

Human Capital, Lux Capital, Neo, NFDG, Catalio Capital Management, Menlo Ventures, 776, and Fusion Fund
Medra
$52M
San Francisco, CA-based platform for physical AI scientists

Long Ridge Equity Partners
OnCorps AI
$55M
Boston, MA-based agentic AI platform for fund operations

M12, Microsoft’s Venture Fund, Y Combinator, Adverb Ventures, and 8VC
Outset
$30M
San Francisco, CA-based customer research and surveying platform

Frist Cressey Ventures, a16z, and Morgan Health
Paradigm Health
$20M
New York, NY-based benefits platform for cell and gene therapies

Valspring Capital and Rethink Impact
Parallel
$20M
New York, NY-based teletherapy and special ed provider for K-12 schools

Scale Venture Partners, Foundation Capital, Flybridge, and PayPal Ventures
Prime Security
$20M
New York, NY-based agentic security platform for software development

5AM Ventures, OrbiMed, and Monograph Capital
ProLynx
$70M
San Francisco, CA-based developer of long-acting obesity treatments

Samsara BioCapital, Lightstone Ventures, and Roivant
PsiThera
$47.5M
Watertown, Mass.-based developer of oral medicines for immunology and inflammation

Galvanize, Energy Impact Partners, Gradient Ventures, Lowercarbon Capital, Incite Ventures, and Alumni Ventures
Quilt
$20M
Redwood City, CA-based home heat pump maker

General Catalyst, Solari Capital, JSL Health Capital, Founder Collective, BoxGroup, Scrub Capital, and Diede van Lamoen
Radial
$50M
New York, NY-based mental health care startup

Snowflake Ventures and AT&T Ventures
RelationalAI
$22.5M
Berkeley, CA-based business decision intelligence platform

Five Elms Capital, Threshold Ventures, 8VC, and Bienville Capital
Ritten
$35M
Philadelphia-based developer of EHR and clinic management software for behavioral health providers

10D, Propel Ventures, Mensch Capital, Moneta Venture Capital, Magnolia Capital, Cerca Fund, and Blue Moon
Safebooks
$15M
San Francisco, CA-based financial data governance startup

Eli Lilly, Sino Biopharm, Invus, and Qiming Venture Partners
SanegeneBio
$110M
Woburn, MA-based obesity and autoimmune biotech

KKR, Sixth Street Growth, TenEleven, and Carrick Capital Partners
Saviynt
$700M
El Segundo, CA-based identity security company

Sequoia Capital, Meritech, First Round, General Catalyst, and Evantic
Serval
$75M
San Francisco, CA-based IT service management platform

Mainsail Partners
Steelhead Technologies
$84M
Provider of ERP software for metal finishers and fabricators

a16z, Lightspeed, Sequoia Capital, Lux Capital, DCVC, Databricks, Future Ventures, and Jeff Bezos
Unconventional AI
$475M
San Francisco, CA-based developer of next-gen digital computers

BVVC, Hanwha, Geodesic Capital, Airbus Ventures, Dauntless Ventures, Trousdale Ventures, Veteran Ventures Capital, DYNE Ventures, Propeller Ventures, Decisive Point Ventures, SAIC Ventures, Centre Street Partners, Cubit Capital, and Lockheed Martin Ventures
Vatn Systems
$60M
Portsmouth, RI-based developer of autonomous underwater vehicles for naval warfare

December 17th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: December 1-5, 2025

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

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

Note: Because of the Thanksgiving holiday and the shortened business week, this edition of The Scherzer Deal Report is abbreviated.

Fundraising for PE & VC Funds

Anti Fund
$30M
AI-focused fund

Nexus Venture Partners
$700M
Latest fund

WindRose Health Investors
$2.6B
Seventh fund

Private Equity Deals

Arcline
American Casting Co.
Undisclosed amount
Hollister, CA-based provider of investment castings

NMS Capital
Axiom Medical
Undisclosed amount
The Woodslands, TX-based provider of tech-enabled workplace incident case management solutions

Tenex
Blue Haven
Undisclosed amount
Cedar Park, TX-based franchisor of swimming pool builders

Investcorp
Guardian Fire Services
Undisclosed amount
Nashville, TN-based provider of fire and life safety service

Goldman Sachs
Innovator Capital Management
Undisclosed amount
Wheaton, IL-based provider of defined-outcome ETFs

Torque Capital Group
Joe Gibbs Manufacturing Solutions
Undisclosed amount
Huntersville, NC-based maker of composites and assemblies for aerospace and defense applications

BlackstoneMac
Lean Power Systems
Undisclosed amount
Ft. Mill, SC-based utility parts maker

Sundance Growth
Orbweaver
Undisclosed amount
Bethlehem, PA-based supply chain automation platform for the electronics industry

InTandem Capital
Phia Group
Undisclosed amount
Canton, MA-based health cost management company

Warburg Pincus
Raptor Technologies
Undisclosed amount
Houston, TX-based school safety software provider

Braemont Capital
Royal Cup
Undisclosed amount
Birmingham, AL-based provider of coffees and teas

Trident
The LunchMaster
Undisclosed amount
Hayward, CA-based contract foodservice provider 

Venture Capital Deals

Arcline
American Casting Co.
Undisclosed amount
Hollister, CA-based provider of investment castings

NMS Capital
Axiom Medical
Undisclosed amount
The Woodslands, TX-based provider of tech-enabled workplace incident case management solutions

Tenex
Blue Haven
Undisclosed amount
Cedar Park, TX-based franchisor of swimming pool builders

Investcorp
Guardian Fire Services
Undisclosed amount
Nashville, TN-based provider of fire and life safety service

Goldman Sachs
Innovator Capital Management
Undisclosed amount
Wheaton, IL-based provider of defined-outcome ETFs

Torque Capital Group
Joe Gibbs Manufacturing Solutions
Undisclosed amount
Huntersville, NC-based maker of composites and assemblies for aerospace and defense applications

BlackstoneMac
Lean Power Systems
Undisclosed amount
Ft. Mill, SC-based utility parts maker

Sundance Growth
Orbweaver
Undisclosed amount
Bethlehem, PA-based supply chain automation platform for the electronics industry

InTandem Capital
Phia Group
Undisclosed amount
Canton, MA-based health cost management company

Warburg Pincus
Raptor Technologies
Undisclosed amount
Houston, TX-based school safety software provider

Braemont Capital
Royal Cup
Undisclosed amount
Birmingham, AL-based provider of coffees and teas

Trident
The LunchMaster
Undisclosed amount
Hayward, CA-based contract foodservice provider 

December 10th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: November 24-28, 2025

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

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

Note: Because of the Thanksgiving holiday and the shortened business week, this edition of The Scherzer Deal Report is abbreviated.

Fundraising for PE & VC Funds

Heartwood Partners
$245M
Single-asset continuation fund

Private Equity Deals

Courizon Partners
Air Burners
Undisclosed amount
Palm City, FL-based provider of burner systems for on-site disposal of wood and vegetative waste

SoftBank
Ampere Computing
Undisclosed amount
Santa Clara, CA-based chipmaker

Smith Ventures and Commerce
OneGreen Dot
Undisclosed amount
Austin, TX-based financial tech and bank holding company

Guardian Capital Partners
Raptor Power Systems
Undisclosed amount
Eatontown, NJ-based maker of power products serving data centers

Truelink Capital
SouthernCarlson
Undisclosed amount
Omaha, NE-based provider of construction and industrial fasteners, tools, and packaging

Venture Capital Deals

FT Partners, YC, QED, 13Books, Latitude, and Local
GlobeModel ML
$75M
San Francisco, CA-based automation platform for financial services

Standard Capital, Dropbox Ventures, YC, FCVC, Transpose Platform, and Karman Ventures
Momentic
$15M
San Francisco, CA-based AI testing startup

YL Ventures, Mayfield, Hetz Ventures, Squared Circle Ventures, and Maple Capital
Opti
$20M
Palo Alto, CA-based enterprise identity security platform

Yosemite, Canaan Partners, F-Prime Capital, and Lilly Ventures
Quarry Thera
$32M
New Haven, CT-based cancer and immunology biotech

Scale Venture Partners, Gradient Ventures, Cathay Innovation, and 53 Stations
Range
$60M
San Francisco, CA-based provider of flat-fee financial planning services to mass affluent households

BrightMind Partners, Mayfield, and Gradient
Vijil
$17M
Menlo Park, CA-based AI agent security startup

Jane Street, Ark Invest, Corner Capital, Galvanize, Hood River Capital Management, Reaves Asset Management, XTX Ventures, Ares Management, Emerson Collective, NGP, and Segra Capital Management
X-energy
$700M
Rockville, MD-based developer of small modular reactors

December 3rd, 2025|Scherzer Deal Report|

The Scherzer Deal Report: November 17-21, 2025

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

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

Fundraising for PE & VC Funds

BVP Forge
$1B
Second fund

DigitalBridge
$11.7B
Third digital infrastructure fund ($7.2B) and coinvestment commitments ($4.5B)

JP Morgan
$1B
Second private equity co-investment fund

Monogram Capital Partners
$350M
Third fund

Rockland Capital
$1.2B
Fifth power-focused fund

Tailwater Capital

$425M
Fifth flagship fund focused on energy infrastructure

The LegalTech Fund
$110M
Second fund

Private Equity Deals

TA Associates
Aeris
Undisclosed amount
San Jose, CA-based provider of IoT connectivity SaaS

Frontenac Co.
Beckway Consulting
Undisclosed amount
New York, NY-based consultancy focused on financial sponsors

Bain Capital
Concert Golf Partners
Undisclosed amount
Lake Mary, FL-based golf club operator 

Tiger Infrastructure Partners
ELM Utility Services
Undisclosed amount
Peoria, IL-based outsourced public utility locating services company

GTCR
Fiduciary Trust Co.
Undisclosed amount
Boston, MA-based private wealth manager and trust company

Long Ridge Equity Partners
GoTu Technology
Undisclosed amount
Miami, FL-based dental talent marketplace

H.I.G. Capital
GT Independence
Undisclosed amount
Sturgis, MI-based provider of long-term home care and support solutions for Medicaid participants

Vance Street Capital
Injectech
Undisclosed amount
Fort Collins, CO-based provider of injection-molding and clean-room assembly to medical OEMs

Viking Global Investors
Machine Sciences
Undisclosed amount
Tualatin, OR-based aerospace component supplier and manufacturer

Arkview Capital
NeoTech
Undisclosed amount
Chatsworth, CA-based electronics manufacturer.

Blackford Capital
Texas Injection Molding
Undisclosed amount
Houston, TX-based manufacturer of injection molded industrial components

Leonard Green
Topgolf
Undisclosed amount
Dallas, TX-based tech-enabled golf company delivering leading golf equipment, apparel and entertainment

Venture Capital Deals

Forerunner, Benchmark, Craft Ventures, AlleyCorp, Antler, and Starting Line
Agentio
$40M
Brooklyn, NY-based platform for creator-led advertising

Mission BioCapital, Santé Ventures, Lightchain Capital, and Cobro Ventures
AI Proteins
$41.5M
Boston, MA-based miniprotein drug developer

U.S. Venture Partners, Swisscom Ventures, Vertex Ventures, and 33N Ventures
Apono
$34M
New York, NY-based cloud identity-security startup

TriEdge Investments, MFO Ventures, and WindRose Health Investors
Arbiter
$52M
New York, NY-based provider of health care orchestration tools

IAG Capital Partners, Hitachi Ventures, Bezos Expeditions, Venrock, Amazon Industrial, Innovation Fund, Samsung Ventures, Systemiq Capital, E12 Ventures, and Higher Life Ventures
Archetype AI
$35M
Palo Alto, CA-based developer of AI models for the physical world

OrbiMed, ARCH Venture Partners, Frazier Life Sciences, Revelation Partners, Medical Excellence Capital, S32, Axon Ventures, Lyfe Capital, and LifeForce Capital
Aspen Neuroscience
$115M
San Diego, CA-based personalized cell therapy company

Felicis, Initialized, Khosla Ventures, and Y
Automat
$15.5M
San Jose, CA-based enterprise workflow automation startup

Greylock, Mangusta Capital, Mantis VC, and Pier 88 Investment Partners
Bedrock Data
$25M
Menlo Park, CA-based data management platform

CapitalG, Sutter Hill Ventures, Valor Equity Partners, Atreides Management, and Maverick Silicon
Celero Communications
$100M
Laguna Beach, CA-based provider of digital signal processors for AI infrastructure

Viola Growth and OpenView
Chargeflow
$25M
New York, NY-based fintech that automates chargeback disputes

Canapi Ventures
Coverbase
16.5M
San Francisco, CA-based AI procurement and risk platform

Bessemer Venture Partners, George Kurtz, NTT Docomo Ventures, and Aurum Partners
Doppel
$70M
San Francisco, CA-based social engineering defense platform

Goldman Sachs Alternatives, Emergence Capital, Caffeinated Capital, StepStone Group, and Pear VC
Federato
$100M
San Francisco, CA-based provider of insurance workflow software

Redpoint Ventures, a16z, FirstMark, Battery Ventures, and Menlo Ventures
Function Health
$298M
Austin, TX-based longevity startup

Emergence Capital Partners, SBI Investment, LG Technology Ventures, Pavilion Capital, and Uphonest Capital
Genspark
$275M
Laguna Beach, CA-based developer of agentic AI for knowledge workers

Tiger Global and Generation Investment Management
Gridware
$55M
San Francsico, CA-based electric grid protection startup

Citadel Securities, Jane Street, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital
Kraken
$800M
Cheyenne, WY-based crypto exchange

TWG Global and US Innovative Technology Fund
Lambda
$1.5B
San Francisco, CA-based cloud infrastructure provider

Humain, AMD Ventures, a16z, Amplify Partners, and Matrix Partners
Luma AI
$900M
Palo Alto, CA-based video generation platform

a16z, General Catalyst, Blackstone, Crossbeam Venture Partners, Forward Deployed Venture Capital, and Pax Ventures
Method Security
$26M
Saint Paul, MN-based dual-use cybersecurity company

Thrive Capital, New York Life Ventures, Northwestern Mutual, and Allegis
Modern Life
$20M
New York, NY-based provider of AI tools for financial advisors to offer life insurance

PEP Capital, Samsung Ventures, Top Material, General Motors Ventures, Catalus Capital, Itochu Corp., Fortistar Capital, and WindSail Capital Group
Nanoramic
$54M
Boston, MA-based battery startup

8VC, Blue Venture Fund, Amboy Street Ventures, and Socium Ventures
Nest Health
$22.5M
New Orleans, LA-based value-based care company focused on families

IVP, Menlo Ventures, Founders Fund, Alkeon, 8VC, Socii Capital, Access Industries, Friends & Family Capital, and Long Journey Ventures
Numeric
$51M
San Francisco, CA-based accounting automation startup

Gilde Healthcare, Vensana Capital, and USVP
Okami Medical
$45M
Aliso Viejo, CA-based vascular embolization tech startup

Prelude Growth Partners, Unilever Ventures, Willow Growth Partners, and Selva Ventures
Perelel
$27M
Los Angeles, CA-based maker of women’s supplements

CapitalG, Lux Capital, Thrive Capital, Jeff Bezos, Emergence, Index Ventures and T. Rowe Price
Physical Intelligence
$600M
San Francisco, CA-based developer of AI software for robots

Playground Global and Celesta Capital
PowerLattice
$25M
Vancouver, WA-based low-power chiplet developer

Altimeter, Bezos Expeditions, Spark Capital, Insight Partners, and Air Street Capital
Profluent
$106M
Emeryville, CA-based protein design AI startup

Apax
RapidSOS
$100M
New York, NY-based emergency response data platform

Yosemite, Abingworth, Ally Bridge Group, B Capital, Balyasny Asset Management, Merck, SymBiosis, Alexandria Venture Investments, AyurMaya Capital Management, DC Global Ventures, General Atlantic, and Surveyor Capital
Solve Therapeutics
$120M
San Diego, CA-based developer of ADCs for solid tumor malignancies

T. Rowe Price, VXI Capital, Yamaha Motor Ventures, and Overlay Capital
Sortera
$45M
Markle, IN-based aluminum-sorting startup

A16z, YC, and Felicis Ventures
Sphere
$21M
New York, NY-based tax compliance platform

A16z, Activant Capital, Khosla Ventures, 1984 Ventures, Carya Venture Partners, Page One Ventures, Vesey Ventures, and Valley Ventures
Stuut
$29.5M
New York, NY-based accounts receivables automation startup

Menlo Ventures, Hallwood Media, Lightspeed, Matrix, and NVentures
Suno
$250M
Cambridge, MA-based AI music platform

Permanent Capital, D.R. Horton, and Engineering Capital
Tidalwave
$22M
New York, NY-based AI platform for mortgage origination

GreenSoil PropTech Ventures
Tulu
$17M
New York, NY-based provider of on-demand access to appliances and entertainment devices for apartment building tenants

Eclipse, Woodline Partners, Principia Growth, XN and Alsop Louie Partners
Ursa Major Technologies
$100M
Berthound, CO-based rocket engine startup

S3 Ventures and Intuitive Venture
VahatiCor
$23M
Santa Clara, CA-based cardiac medtech

Notable Capital and Flight Fund
Wispr
$25M
San Francisco, CA-based dictation app

November 26th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: November 10-14, 2025

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

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

Fundraising for PE & VC Funds

Glasswing Ventures
$200M
Third fund

Monomoy Capital Partners
$500M
Third credit opportunities fund

Neuberger Berman
$7.3B
Fifth private credit fund

Section Partners
$189M
Fifth flagship fund and second co-investment fund

Private Equity Deals

Coalesce Capital
DecisionHR
Undisclosed amount
St. Petersburg, FL-based provider of HR outsourcing solutions

Lindsay Goldberg
EMCO Chemical Distributors
Undisclosed amount
Pleasant Prairie, WI-based distributor of industrial chemicals

Goldman Sachs
Excel Sports Management
Undisclosed amount
New York, NY-based sports talent agency

Arcline
Novaria Group
Undisclosed amount
Fort Worth, TX-based maker of aerospace components

Francisco Partners
OEConnection
Undisclosed amount
Fairlawn, OH-based backend platform for automotive aftersales

Clearlake Capital Group
Pathway Capital Management
Undisclosed amount
Irvine, CA-based investment manager

Macquarie, UniSuper, and Partners Capital
Potters Industries
Undisclosed amount
Malvern, PA-based infrastructure services firm

H.I.G. Capital
Rely Home
Undisclosed amount
Edison, NJ-based home warranty provider

GTCR
Simplisafe
Undisclosed amount
Boston, MA-based smart security firm

Investindustrial
TreeHouse Foods
Undisclosed amount
Oak Brook, IL-based private-label foodmaker

Venture Capital Deals

Battery Ventures, Primary Ventures, Wing Venture Capital, Operator Collective, Harmonic Growth Partners and Success Venture Partners
1mind
$30M
San Francisco, CA-based AI sales startup

Greylock
AirOps
$40M
San Francisco, CA-based provider of AI search marketing solutions

Prysm Capital, Accenture, Liquid 2 Ventures, NextEquity, Friends & Family Capital, WndrCo, and SLW
Alembic Technologies
Undisclosed

San Francisco, CA-based causal AI startup

Madrona, Sandbox Industries, and a16z
Anzen
$16M
San Francisco, CA-based commercial insurance workflow startup

Neo, Forerunner Ventures, Bezos Expeditions, and Core
Arrived
$27M
Seattle, WA-based fractional real estate investing platform

Insight Partners, Vertex Ventures, Tenacity Ventures, and InfoEdge Venture Fund
Attentive.ai
$30.5M
San Francisco, CA-based AI platform for construction

Innoviva, GV, Nexus NeuroTech Ventures, S32, Catalio Capital Management, General Catalyst, Logos Capital, Casdin Capital, and Indicator Ventures
Beacon Biosignals
$86M
Boston, MA-based developer of neuro diagnostics and precision medicines

EQT Ventures and Index Ventures
Beside
$32M
Brooklyn, NY-based smart assistant for calls and texts

Wing VC, Atomic, Acme, Four Rivers, Thayer Investment Partners, the Fund of Operators Guild, and Gaingels
BoomPop
$25M
San Francisco, CA-based company events platform

Sequoia Capital, Silver Lake, Adidas, Baillie Gifford, Madrone, and Northgate
Carbon
$60M
Redwood City, CA-based 3D printing company

Valor Equity Partners
Chaos Industries
$510M
Los Angeles, CA-based maker of counter-drone radar systems

Bullhound Capital, Triatomic Capital, Temasek, QIA, EDBI, M12, Nautilus Venture Partners, Industry Ventures, and Mirae
D-Matrix
$275M
Santa Clara, CA-based AI chipmaker

Health2047, WGG Partners, Interwoven Ventures, and Mindset Ventures
Evidium
$22M
San Francisco, CA-based clinical reasoning startup

NEA and Intel Capital
Fabric8Labs
$50M
San Diego, CA-based electrochemical additive manufacturing startup

Greycroft, GTMfund, the NBA, NHL, and TMRW Sports
Fastbreak AI
$40M
Charlotte, NC-based provider of sports operations software

Moore Strategic Ventures, Salesforce Ventures, Franklin Templeton, Balyasny Asset Management, 645 Ventures, Hanwha Asset Management, 9Yards, XYZ Venture Capital, Enlightenment Capital, and Hedosophia
Forterra
$238M
Clarksburg, MD-based provider of autonomous commercial and military vehicles

Forbion, Eli Lilly, Versant Ventures, a16z, GV, and Arch Venture Partners
Gate Bioscience
$65M
Brisbane, CA-based protein elimination biotech

Scale Venture Partners, Northzone, Sound Ventures, Aglaé Ventures, SilverCircle Partners, News Corp, The Council, Vercel CEO Guillermo Rauch
GC AI
$60M
San Francisco, CA-based AI platform for in-house legal teams

Eldridge Industries and Valor Equity Partners
Gopuff
$250M
Philadelphia, PA-based rapid-delivery company

FedEx, Capricorn, THOR Industries, Ridgeline, Tiger Global, Leitmotif, Maniv Mobility, Schematic Ventures, Overture Climate, Ironspring Ventures, ArcTern Ventures, Litquidity Ventures, and The Coca-Cola System Sustainability Fund
Harbinger
$160M
Garden Grove, CA-based maker of commercial EVs

NEA and Town Hall Ventures
House Rx
$35M
San Francisco, CA-based developer of in-clinic specialty pharmacies

Acrew Capital and Boldstart Ventures
Humanix
$18M
Spokane Valley, WA-based protects large enterprises from social engineering attacks

Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK, Ascenta, Catalio, Everbright Biofund, and Freeflow Ventures
Iambic Therapeutics
$100M
San Diego, CA-based AI drug discovery company

Bow Wave Capital, Lux Capital, SBI, Upfront Ventures, Grove Ventures, and Hetz Ventures
Majestic Labs
$100M
San Francisco, CA-based AI server developer

Sequoia Capital, Vy Capital, and Interlagos
Neros
$75M
El Segundo, CA-based military drone maker

Invivium Capital, Kennedy Lewis Investment Management, UCM Ventures, LYZZ Capital Advisors, and Lincoln Park Capital Fund
Onchilles Pharma
$25M
San Diego, CA-based developer of cytotoxic therapeutics for cancer

MarcyPen
Rebel
$25M
Kannapolis, NC-based recommerce marketplace for open-box and overstock goods

StepStone, Amplify Partners, Redpoint Ventures, Tiger Global, Morado Ventures, and New York Life Ventures
Scribe
$75M
San Francisco, CA-based workflow documentation startup

Goldman Sachs Alternatives and BDT & MSD Partners
Skims
$225M
Los Angeles, CA-based apparel brand

CRV, Sequoia Capital, Scale Venture Partners, and YC
Tavus
$40M
San Francisco, CA-based improver of enterprise AI agents

Capricorn Investment Group, Lockheed Martin Ventures, IBEX Investors, and VXI Capital
Teradar
$150M
Boston, MA-based developer of solid-state sensors

359 Capital, Bitkraft Ventures, Wise Ventures, and Left Lane Capital
The Snow League
$15M
New York, NY-based pro snowboarding and freeskiing league

Snowpoint Ventures, Day One Ventures, Dream Ventures, Riot Ventures, Balerion Ventures, Contrary, and Palmer Luckey
Valar Atomics
$130M
Hawthorne, CA-based developer of nuclear gigasites

Kleiner Perkins and NVentures
WisdomAI
$50M
San Mateo, CA-based AI data analytics startup

November 19th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: November 3-7, 2025

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

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

Fundraising for PE & VC Funds

Founders’ Co-op 
$50M
Sixth fund

Generate Capital 
$1B
Credit business

Teleo
$350M
Second fund

Private Equity Deals

WJ Partners
7 Brew
Undisclosed amount
Springdale, AR-based drive-thru coffee chain

Nexphase Capital Partners
Always Best Care
Undisclosed amount
Rocklin, CA-based in-home senior care company

Aquarian
Brighthouse Financial
Undisclosed amount
Charlotte, NC-based life insurer

Consello Capital
CleanBoss
Undisclosed amount

New York, NY-based maker of cleaning and disinfectant products

L Squared
Ergo
Undisclosed amount
New York, NY-based geopolitical and strategic intelligence firm

Brydon Group
Firm Prospects
Undisclosed amount
Scituate, MA-based legal-tech platform

Bonaccord Capital Partners
Kingswood Capital Management
Undisclosed amount
Los Angeles, CA-based private equity firm focused on midmarket buyouts

Five Arrows
NetVendor
Undisclosed amount
Tualatin, OR-based provider of vendor compliance management software

JLL Partners
Parks Medical Electronics
Undisclosed amount
Aloha, OR-based ultrasound manufacturer

Haven Capital Partners and Altaline
Saratoga Compliance Solutions
Undisclosed amount
New York, NY-based insurance compliance platform

Arsenal Capital Partners
ThermoSafe
Undisclosed amount
Arlington Heights, IL-based packaging business

Venture Capital Deals

Allumia Ventures, Artis Ventures, City Light Capital, LifeArc Ventures, and Limitless Ventures
Affect Therapeutics
$26M
McLean, VA-based gamified mental health startup

Goldman Sachs Alternatives, Evolution Equity Partners, and CapitalG
Armis
$435M
San Francisco, CA-based cyber exposure management

Third Rock Ventures, RA Capital Management, Yosemite, and Sozo Ventures
Azalea Therapeutics
$65M
Berkeley, CA-based genomic medicines startup that wants to apply CRISP to in vivo CAR-T

Forbion, OrbiMed, Enavate Sciences, and Frazier Life Sciences
Braveheart Bio
$185M
San Francisco, CA-based developer of therapeutics for hypertrophic cardiomyopathy

Lightspeed Venture Partners, Bessemer Venture Partners, Angular Ventures, and Uncork Capital
DualBird
$25M
Westborough, MA-based data workload acceleration startup

Unity Ventures, Kylinhall Partners, Vision Plus Capital, Xstar Capital, and the founders of Anker Innovations
Evotrex
$16M
Los Angeles, CA-based developer of power-generating RVs

Basis Set Ventures, Patron, USC Viterbi, AME Cloud Ventures, Matt Pittinsky, Afore Capital, and YC
Flint
$15M
New York, NY-based startup building AI tutors for schools

Benchmark
Fomo
$17M
New York, NY-based social crypto trading app

Menlo Ventures, Mayfield, Innovation Endeavors, NVentures, M12, Snowflake Ventures, and Databricks
Inception
$50M
Palo Alto, CA-based developer of diffusion LLMs

Atomic, Foresite Capital, and Polaris Partners
Indomo
$25M
Boston, MA-based provider of at-home prescription dermatology treatments

LionTree, Eldridge Industries, Slow Ventures, DFJ, Vista Credit Partners, SoftBank, and Tekne Capital
Metropolis
$500M
Los Angeles, CA-based tech-enabled parking lot network

A91 Partners and Goldman Sachs Alternatives
MoEngage
$60M
San Francisco, CA-based customer engagement platform for consumer brands

ABL Bio
Neok Bio
$75M
Palo Alto, CA-based cancer drug developer

Catalyst Investors, Battery Ventures, Tower Research Ventures, K Street Capital, and Blu Ventures
Procurement Sciences
$30M
Dunstable, MA-based provider of government contracts software

Khosla Ventures and Kleiner Perkins
Reevo
$70M
Santa Clara, CA-based go-to-market platform

Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace
Ripple
$500M
San Francisco, CA-based cryptocurrency company behind XRP

Double Point Ventures, Arch Venture Partners, Khosla Ventures, Bezos Expeditions, NTI, METIS, Australian National Reconstruction Fund, T.Rx Capital, QIA, K5 Global, Protocol Labs, and IQT
Synchron
$200M
New York, NY-based non-surgical brain-computer interface startup

Sofreh Capital
Tala Health
$100M
Santa Monica, CA-based developer of an agentic platform for health care

M13, Primary Venture Partners, and Lerer Hippeau
Teleskope
$25M
New York, NY-based data security startup

Intel Capital, a16z, Abstract Ventures, and Lytical Ventures
Truffle Security
$25M
San Francisco, CA-based enterprise credentialing startup

A.P. Moller, Galvanize, Ora Global, and Sequoia Capital
Upway
$60M
New York, NY-based provider of refurbished e-bikes

November 12th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: October 27-31, 2025

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

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

Fundraising for PE & VC Funds

Arlington Capital Partners
$6B
Seventh fund

Insignia Capital Group
$500M
Third fund

Sequoia Capital
$950M
New early-stage fund ($750M) and a new seed fund ($200M)

Private Equity Deals

Incline Equity Partners
Advanced Solutions International
Undisclosed amount
Alexandria, VA-based provider of engagement management software for associations, trade unions and nonprofits

Platinum Equity
Anuvu
Undisclosed amount
Lombard, IL-based provider of entertainment and high-speed connectivity for airlines

Verite Capital Partners
Buffalo Biodiesel
$300M
Buffalo, NY-based used-cooking-oil recycler and renewable green energy fuel producer

Francisco Partners
Jamf
$2.2B
Minneapolis, MN-based enterprise security and management platform for Apple devices

Forward Consumer Partners
Justin’s
Undisclosed amount
Wood-Ridge, NJ-based peanut butter brand

Centerbridge Partners
MeridianLink
Undisclosed amount
Costa Mesa, CA-based credit reporting and lending platform

Ares Management and Makorora Management
Plymouth Industrial REIT
$2.1B
Boston, MA-based real estate investment trust

Great Hill Partners
Ren
Undisclosed amount
Indianapolis, IN-based provider of donor-advised fund solutions

Blackstone
Shermco
$1.6B
Irving, TX-based provider oflectrical equipment services

Venture Capital Deals

DBL Partners, Nuveen, Autotech, Allison Transmission, Rethink Food, and Black Forest Ventures
Agtonomy
$18M
South San Francisco, CA-based provider of agriculture and land management software

TCV, Bessemer Venture Partners, CRV, and Entrée Capital
Archy
$20M
San Jose, CA-based dental practice software platform

ACME Capital, Ridge Ventures, and Twelve Below
Arya Health
$18.2M
New York, NY-based developer of post-acute-care agents

Greycroft, CrowdStrike Falcon Fund, Accel, and Felicis Ventures
ConductorOne
$79M
Portland, OR-based identity security and access governance startup

Tribeca Venture Partners, NEA, SineWave Ventures, Harrison Metal, Singtel Innov8, Samsung Next, Nimble Partners, and Alumni Ventures
CoreStory
$32M
San Francisco, CA-based code modernization platform

Luma Group, First Spark Ventures, Techas Capital, Micah Spear, Civilization Ventures, LifeX Ventures, Incite Labs, Mintaka Ventures, and NZVC
Curve Biosciences
$40M
San Mateo, CA-based chronic disease blood-testing and monitoring startup

Lightspeed, Index Ventures, Evantic, and Sequoia Capital
Fireworks AI
$250M
Redwood City, CA-based AI inference startup

Norwest Venture Partners, Cthulhu Ventures, Leap Forward Ventures, Wyoming Venture Capital, Echelon, Wyoming Business Council, and Sand Hill Angels
Frontline Wildfire Defense
$48M
Jackson Hole, WY-based fire sprinkler and detection startup

JPMorgan Asset Management led, Ray Dalio’s family office
Fruitist
$150M
Los Angeles, CA-based healthy snackmaker

a16z
Harvey
$150M
San Francisco, CA-based legal AI startup

Yttrium, International Airlines Group, World Kinect, and Shell Ventures
i6
$20M
Lodi, NJ-based provider of digital fuel management for aviation

Atomic, Foresite Capital, and Polaris Partners
Indomo
$25M
San Francisco, CA-based provider of an at-home prescription corticosteroid injection for acne

NEA, 776, Accel, a16z, and Carpenter Capital
Kaizen
$21M
New York, NY-based developer of e-government solutions

Bessemer Venture Partners, Iconiq, General Catalyst, Redpoint Ventures, Benchmark, and YC
Legora
$150M
New York, NY-based collaborative AI platform for lawyers

Zeev Ventures
Lettuce Financial
$28M
San Francisco, CA-based fintech platform that provides automated tax and accounting services for solopreneurs, freelancers, and contractors

Kindred Ventures, Basis Set Ventures, Peak XV Partners, GitHub Fund, and YC
Mem0
$24M
San Francisco, CA-based AI memory infrastructure platform

Communitas Capital, BTG Pactual, and L2 Point Management
SimSpace
$39M
Boston, MA-based enterprise cyber defense simulator

Georgian, Avenir, 01A, Index Ventures, IVP, Citi Ventures, and Slow Ventures
Sublime Security
$150M
Washington, DC-based agentic email security platform

Venrock and Two Seas Capital
Syllo
$30M
New York, NY-based legal tech startup

OpenAI Startup Fund, Lux Capital, and Founders Fund
Valthos
$30M
San Francisco, CA-based biodefense startup

DST Global, CapitalG, Sequoia Capital, Greycroft, a16z, Avra, and Bond
Whatnot
$225M
Culver City, CA-based live-shopping platform

T1D Fund, Polaris Partners, AbbVie, Regeneron, Sanofi, Mission BioCapital, Lightspeed, KdT Ventures, Boxer Capital, and Pear VC
Zag Bio
$80M
Cambridge, MA-based developer of thymus-targeted medicines for autoimmune diseases

November 5th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: October 20-24, 2025

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

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

Fundraising for PE & VC Funds

BoxGroup
$550M
Seventh flagship VC fund ($275M) and its fourth follow-on fund ($275M)

Burnt Island Ventures
$50M
Second fund

Diversis
$1.2B
Third fundHigh

Vista Strategies

$270M
14th VC fund

Private Equity Deals

Sixth Street
CR Fitness Holdings
Undisclosed amount
Brandon, FL-based Crunch Fitness franchisee

BDT & MSD Partners
Designs for Health
Undisclosed amount
Palm Coast, FL-based supplements maker

Mainsail Partners
FieldFlo
Undisclosed amount
Denver, CO-based provider of project and safety management software for subcontractors

SkyKnight Capital
Force Electrical Services
Undisclosed amount
San Francisco, CA-based electrical distribution and transmission infrastructure services firm

River Pines Capital Growth
Loop
Undisclosed amount
New York, NY-based marketing tech company

FFL Partners
Janus Rx
Undisclosed amount
Montgomery, AL-based long-term care pharmacy for patients with serious mental illnesses

6North Partners and Carlyle
NEP Group
Undisclosed amount
Pittsburgh, PA-based provider of media services for live sports and entertainment

Ministry of Environment of South Korea, IMM Investment, Woori Private Equity Asset Management, and AB CarVal
Peregrine Energy Solutions
Undisclosed amount
Boulder, CO-based utility-scale renewables and energy storage develope

Carrick Capital Partners
Veritas Prime
Undisclosed amount
Orlando, FL-based provider of SAP SuccessFactors and payroll tech solutions

Curewell Capital
Wilmington Pharmatech
Undisclosed amount
Christiana, DE-based drug manufacturer 

Venture Capital Deals

Spark Capital, Sapphire Ventures, Khosla Ventures, Sequoia Capital, and Index Ventures
Anrok
$55M
San Francisco, CA-based sales tax compliance automation startup

Lowercarbon Capital, Voyager Ventures, Gigascale Capital, and Marathon Petroleum
Arbor Energy
$55M
El Segundo, CA-based power and carbon removal startup

General Catalyst
Chainguard
$280M
Kirkland, WA-based open source security startup

Two Bear Capital, Allegis Cyber, and Gula Tech Adventures
Conceal
$26M
Augusta, GA-based cybersecurity startup

Mainsail Partners
CourtReserve
$54M
St. Augustine, FL-based provider of tennis and pickleball club management software

Insight Partners, UpWest, and Resolute Ventures
Darwin AI
$15M
Chicago, IL-based AI adoption startup for government agencies

XYZ VC, The General Partnership, Bloomberg Beta and WndrCo.
Defakto
$31M
Palo Alto, CA-based startup that secures automated interactions

Nextech, EQT Life Sciences, Sanofi, HBM Healthcare Investments, and Mubadala
Electra Therapeutics
$183M
San Francisco, CA-based biotech focused on immunology and cancer

M13, Firstmark, and Operator Partners
Estuary
$17M
New York, NY-based enterprise data platform

Flagship Pioneering
Expedition Medicines
$50M

Cambridge, MA-based AI drug discovery startup using quantum covalent chemistry

Sequoia Capital and Kleiner Perkins
Fal.ai
$250M
San Francisco, CA-based provider of media AI models for developers

Two Bear Capital, Gula Tech Adventures, and Next Frontier Capital
Gravwell
$15.4M
Minneapolis, MN-based data analytics and security platform

Anthos Capital, Harmonic Growth Partners, and Across Capital
HiveWatch
$33M
El Segundo, CA-based provider of physical security software

Healthier Capital, Norwest, Define Ventures, Bon Secours Mercy Health, and ServiceNow Ventures
Hyro
$45M
New York, NY-based developer of call-center agents for health care

IVP, Sequoia Capital, Benchmark, CapitalG, and Sapphire Ventures
LangChain
$125M
San Francisco, CA-based agent engineering platform

GV, Coatue, Conviction Capital, and Thrive Capital
OpenEvidence
$210M
Cambridge, MA-based AI medical assistant for doctors

Eclipse and Nvidia
Redwood Materials
$350M
Carson City, NV-based battery recycling and grid storage firm

Insight Partners and JP Morgan
Roller
$50M
Austin, TX-based venue management platform

Caffeinated Capital, Convective Capital, First Round Capital, Transition VC, Advance Venture Partners, Nextview Ventures, Bullpen Capital, Stepstone Group, DCVC, Offline Ventures, Roar Capital, and Slow Ventures
Seneca
$60M
San Francisco, CA-based maker of firefighting drones

Redpoint Ventures, First Round, General Catalyst, Box Group, Bessemer Venture Partners, and Chemistry
Serval
$47M
San Francisco, CA-based IT service management platform

Sequoia Capital and Spark Capital
Sesame
$250M
New York, NY-based smart glasses and conversational AI startup

Avenir, Bain Capital Ventures, Bessemer Venture Partners, and Menlo Ventures
Shop My Shelf
$70M
New York, NY-based curated commerce infrastructure company

Craft Ventures
Starbridge
$42M
Rochester, NY-based govtech startup for business sales teams

CDP Venture Capital, TTV Capital, P101, Monte Carlo Capital, 3Lines VC, Azimut, and Evolution VC
Streetbeat
$15M
Palo Alto, CA-based developer of agents for wealth managers

Canaan Partners, Coatue, Square Peg Capital, Zetta Venture Partners, Bloomberg Beta, AIX Ventures, Marc Benioff, and Nat Friedman
Sumble
$38.5M
San Francisco, CA-based sales intelligence startup

Lightspeed, Matrix Partners, Founder Collective, and Nat Friedman
Suno
$125M
Cambridge, MA-based AI music generator

Greenoaks, Thrive Capital, Sequoia, Ribbit Capital, and SV Angel
Tempo
$500M
San Francisco, CA-based blockchain-based payments startup

Nvidia, AMD, Snowflake Ventures, Databricks Ventures, NEA, March Capital, BNF Capital, National Grid Partners, and Prosperity7
Uniphore
$260M
Palo Alto, CA-based AI business cloud provider

OpenAI Startup Fund, Lux Capital, and Founders Fund
Valthos
$30M
New York, NY-based biodefense startup

Adjuvant Capital and RA Capital Management
VitriVax
$17M
Boulder, CO-based vaccine formulation company

October 29th, 2025|Scherzer Deal Report|

The Scherzer Deal Report: October 13-17, 2025

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

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

Fundraising for PE & VC Funds

Ares Management
$5.3B
Third infrastructure secondaries fund

Ascenta Capital
$325M
Debut fund

Bain Capital
$14B
14th flagship PE fund

Brookfield
$20B
Second global energy transition fund

Carnelian Energy Capital Management
$600M
Canada focused fund

Crystal Venture Partners
$33M
Debut fund

Ecosystem Investment Partners
$400M
Fifth fund

Energy Impact Partners
$1.4B
Third flagship fund

Manulife Investment Management
$5.5B
Third infrastructure fund

Origin Ventures
$140M
Sixth fund

Simha Partners
$45M
Debut fund

Sugar Free Capital
$32M
Debut fund

TCG Crossover
$1.3B
Third fund

Private Equity Deals

Avance Investment Management
Barchemy
Undisclosed amount
Donora, PA-based maker of better-for-you chocolate and confectionery ingredients

Nautic Partners
Cenavera Nutrition
Undisclosed amount
Scottsdale, AZ-based food service provider for K-12 schools

Clearlake Capital Partners
Constant Contact
Undisclosed amount
Waltham, MA-based digital marketing and automation platform

Mainsail Partners
Flyntlok
Undisclosed amount
Juneau, AK-based heavy equipment dealer management system

GenNx360
Heartland Business Systems
Undisclosed amount
Little Chute, WI-based provider of IT services for commercial and public sector clients

Advent International and Corvex Private Equity
Heidrick & Struggles
Undisclosed amount
Chicago, IL-based executive search firm

Shofner Capital Partners
PtEverywhere
Undisclosed amount
Cary, NC-based practice management platform for cash-pay physical therapy clinics

TZP Group
True Lacrosse
Undisclosed amount
Lombard, IL-based youth lacrosse organization 

Mountaingate Capital
Walker Sands
Undisclosed amount
Chicago, IL-based corporate communications firm 

Venture Capital Deals

Avalon BioVentures, Correlation Ventures, and Alexandria Venture Investments
AeroRx Therapeutics
$21M
La Jolla, CA-based biotech focused on chronic respiratory diseases

NEA, Eli Lilly, Alexandria Venture Investments, Atlas Venture, Avidity Partners, F-Prime, GV, Mass General Brigham Ventures, and Perceptive Advisors
Affinia Therapeutics
$40M
Waltham, MA-based gene therapy startup focused on cardiovascular and neurological diseases

Prime Eight Capital, CR Biotech, HighLight Capital, HM Venture Partners, and ReliantTech
Arthrosi Therapeutics
$153M
San Diego, CA-based company treating gout and tophaceous gout patients

Addition, Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, Waybury, Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789
Base Power
$1B
Austin, TX-based home power backup company

Pantera Capital,LDA Capital, Borderless Capital, and Ajna Capital
Bee Maps
$32M
San Francisco, CA-based decentralized mapping startup

Pantera Capital, Coinbase Ventures, Reciprocal Ventures, and Jump Capital
Coinflow
$25M
Chicago, IL-based stablecoin payments startup

Bain Capital Ventures, Index, Elad Gil, Sequoia, Cooley LLP, and Patrick Collison
Crosby
$20M
New York, NY-based AI law firm

FTV Capital and Forerunner Ventures
Duos
$130M
Minneapolis, MN-based senior benefits company

Bessemer Venture Partners, B Capital, SignalFire, Lightspeed, HarbourVest, Adams Street, RELX, and Broadlight Capital
EvenUp
$150M
San Francisco, CA-based provider of AI solutions for personal injury law

A16z, Nexus Venture Partners, and YC
FurtherAI
$25M
San Francisco, CA-based insurance workflow startup

Point72, Goodwater Capital, Headline, Blackbird VC, LG Technology Ventures, and Alumni Ventures
Heidi Health
$65M
New York, NY-based medical scribe

Vinod Khosla, Khosla Ventures. Celesta Capital, Anthology Fund, and Carya Venture Partners
HiOctave
$15M
San Francisco, CA-based SMB customer service agent company

Sonder Capital, Senvest Management, and LB Investment
Jupiter Endovascular
$40M
Menlo Park, CA-based developer of endovascular procedures tech

Sequoia, Andreessen Horowitz, Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital
Kalshi
$300M
New York, NY-based prediction markets

WestRiver Group
Lumen Bioscience
$30M
Seattle, WA-based biologic drugmaker

Haun Ventures, Bain Capital Cryptoled, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark
Meanwhile
$82M
San Francisco, CA-based Bitcoin life insurer

Pangaea Ventures, PureTerra Ventures, Ecolab, W. L. Gore & Associates, The Lewis Family Office, Safar Partners, Lam Research, Indico Ventures, and Giantleap Capital
Membrion
$20M
Seattle, WA-based industrial wastewater treatment startup

The Column Group, DCVC Bio, Lux Capital, the Gates Foundation, and Alexandria Venture Investments
Nilo Therapeutics
$101M
New York, NY-based immune disease treatment developer

HighPost Capital
Northbeam
$15M
El Segundo, CA-based video marketing tech startup

FPV Ventures, McKesson Ventures, OSE, Black Opal, Tau, and Rogue VC
Oath Surgical
$24M
San Francisco, CA-based outpatient surgery clinic operator

Titanium Ventures, Google, and 2150
OpenSolar
$20M
San Francisco, CA-based provider of solar installer software

Index Ventures, Benchmark, Coatue, and Root Ventures
Quilter
$25M
Los Angeles, CA-based developer of autonomous PCB layout

Jump Capital, Glasswing Ventures, and Accomplice
Realm.Security
$15M
Boston, MA-based data security startup

 

Nvidia, Lightspeed Venture Partners, and Sequoia Capital

Reflection AI

$2B

Brooklyn, NY-based open-source AI model startup

 

DCVC, Blackbird, KdT Ventures, and Build Collective
Remedy Robotics
$35M
San Francisco, CA-based developer of robotic interventions for stroke and cardiovascular car

PeakSpan Capital
Routefusion
$26.5M
Austin-based embedded cross-border payments startup

Qumra Capital, Zeev Ventures, Insight Partners, Entrée Capital, Flint Capital, and Jibe Ventures
Sensi.AI
$45M
Palo Alto, CA-based caregiver insight platform

Bessemer Venture Partners, Arch Venture Partners, Vida Ventures, and Polaris Partners
Soufflé Therapeutics
$200M
Newton, MA-based RNA biotech

US Innovative Technology Fund
Stoke Space Technologies
$510M
Kent, WA-based reusable rocket maker

Spark Capital
Tigris
$25M
Sunnyvale, CA-basedprovider of localized data storage centers

Pantera Capital, Lightspeed, Alpha Edison, Motley Fool Ventures, California Innovation Fund, and Tomer London
TransCrypts
$15M
Newark, CA-based blockchain-based digital identity startup

Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures
Yendo
$50M
Dallas, TX-based vehicle-secured credit card company

October 22nd, 2025|Scherzer Deal Report|
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