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: September 28 – October 2, 2026
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.
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Fundraising for PE & VC Funds
Ares Management
$4.2B
PE secondaries strategies fund
Dorm Room Fund
$50M
Second VC fund
Investcorp
$1.22B
Scond North American PE fund
$325M
Debut fund focused on lower midmarket services companies
Stride Consumer Partners
$550M
Second fund
Private Equity Deals
Spectrotel
AireSpring
Undisclosed amount
Clearwater, FL-based provider of connectivity, managed services, and network infrastructure solutions
EMS
AMD Supply
Undisclosed amount
Deerfield Beach, FL-based distributor of fencing, hurricane shutters, and aluminum products
Long Lake Management
Amex GBT
$6.3B
New York City, NY-based business travel and expense management firm
Warner Pacific
Beere&Purves
Undisclosed amount
Walnut Creek, CA-based general agency for benefits brokers
CLEAResult
CHEERS
Undisclosed amount
Sacramento, CA-based platform for energy code compliance registration
Blue Sage Capital
Clean Team
Undisclosed amount
Toledo, OH-based janitorial services firm
Coalesce Capital
ClearDefense
Undisclosed amount
Raleigh, NC-based provider of residential pest control services in the Southeast
Fifth Ocean Capital and Tartan Investment Partners
Complete Production Resources
Undisclosed amount
Orlando, FL-based live event production and equipment rental provider
Gladstone Investment
Detroit Defense
Undisclosed amount
Troy, MI-based engineering services and systems integration firm
Roland Foods
Dot Foods
Undisclosed amount
Mt. Sterling, IL-based less-than-truckload consolidator for the food industry
TJP
Evolution Consulting & Research
Undisclosed amount
Exton, PA-based life sciences market research organization
MyEyeDr
EyeCare Partners
Undisclosed amount
St. Louis, MO-based optometry and ophthalmology practice
TRG
Fentron
Undisclosed amount
Westerville, OH-based cybersecurity and advisory firm
Carisk Partners
FirstCare Onsite
Undisclosed amount
Maitland, FL-based provider of onsite occupational healthcare services
Antin Infrastructure Partners
HP Helicopters
Undisclosed amount
Redlands, CA-based maker of specialty helicopters
Luminate Capital Partners
ITpipes
Undisclosed amount
Seattle, WA-based pipe inspection software for sewer and stormwater systems
PrimeSource Brands
JACLO
Undisclosed amount
Cranford, NJ-based distributor of plumbing products and decorative bath fixtures
Bain Capital
Kahua
$250M
Alpharetta, GA -based construction tech firm
Relation Insurance Services
LaPlaca Insurance
Undisclosed amount
Chalfont, PA-based provider of business insurance, employee benefits, and personal lines
Webster Equity Partners
Lifecore Biomedical
$663.7M
Chaska, MN-based injectable-grade hyaluronic acid manufacturer
AGS American Glass Services
Mark Industries
Undisclosed amount
Elgin, IL-based commercial glazing contractor
Nearly Natural
Modernized Pottery
Undisclosed amount
Miami, FL-based line of 3D-printed, eco-friendly planters and related home décor
Vortex Companies
Municipal & Contractors Sealing
Undisclosed amount
Cincinnati, OH-based trenchless services provider
One Equity Partners
Myriad360
Undisclosed amount
West Deptford, NJ-based systems integrator
Fusion Capital Partners
Pioneer Power Group
Undisclosed amount
Rockville, MD-based electrical power systems study company
Finalsite
Revtrak
Undisclosed amount
Glastonbury, CT-based school payments provider
Liberty Mutual Investments and Thayer Street Partners
SunHaven Management
Undisclosed amount
New York City, NY-based community association management platform
GTCR
Tactacam
$1B
Decorah, IA-based maker of cellular-connected cameras for the outdoor and security markets
Incline Equity Partners
The Conrad Company
Undisclosed amount
York, PA-based distributor and service provider of fluid power, motion control, automation and related industrial products
Diversis Capital
Tideworks Technology
Undisclosed amount
Seattle, WA-based provider of terminal operating systems for marine and intermodal rail terminal operations
Trading Technologies International
Trafix
Undisclosed amount
Mineola, NY-based provider of trading infrastructure solutions
Harrison Street
Vicinity Energy
$2.92B
Boston, MA-based provider of district energy solutions
Manna Tree
Zambezi
Undisclosed amount
Los Angeles, CA-based creative agency
Venture Capital Deals
UPMC Enterprises, Ziff Capital Partners, Cockrell Interests, and Tanis Ventures
Ai3Bio
$48M
Watertown, MA-based autoimmune biotech
Accel, a16z, Bain Capital Ventures, Redpoint, 8VC, Ballistic Ventures, Google Ventures, In-Q-Tel, Kleiner Perkins, and Menlo Ventures
Armadin
$255.5M
Palo Alto, CA-based cybersecurity startup led by Mandiant founder Kevin Mandia
Atreides Management, Valor Equity Partners, Premji Invest, Sutter Hill Ventures, Maverick Silicon, Nvidia, and Intel Capital
CScale
$145M
Palo Alto, CA-based optical interconnect developer
A16z, Animo Ventures, and Focal.vc
Doxx
$38M
Miami, FL-based private agentic defined networking platform
TQ Ventures, Eclipse, Union Square Ventures, Giant Ventures, Triatomic Capital, TO Capital, TF Capital, Mana Ventures, Toyota Ventures, Overmatch, and Borderless
Efficient Computer
$97M
Pittsburgh, PA-based developer of energy-efficient processors
Andreessen Horowitz, Bessemer Venture Partners, Ontario Teachers’ Pension Plan, Sapphire Ventures, and Navitas Capita
EliseAI
$350M
New York City, NY-based housing and healthcare AI automation company
Valor Equity Partners, Atreides Management, Sequoia Capital, Human Capital, Evantic, SV Angel, Odyssey, and EQT
Flow Engineering
$50M
San Francisco, CA-based agentic platform for hardware development
Lockheed Martin and Unusual Machines
Fortem Technologies
$50M
Lindon, UT-based airspace security company
ARCHIV, Nvidia, DSC Investment, Trend Micro, KB Investment, Kyobo Life, KT Corp, and CTBC
GMI Cloud
$668M
Mountain View, CA-based provider of GPU infrastructure and inference services
Oak HC/FT, YC, Orange Collective, FT Partners, and HeavyBit
Halluminate
$30M
San Francisco, CA-based developer of AI training environments for financial work
Khosla Ventures, Doerr Capital, CEV, Pear Ventures, Gates Frontier, Niterra SUISO no MORI Fund, Toyota Ventures, and Siemens Financial Services
Hertha Metals
$134M
Conroe, TX-based green steel producer
Saluda Grade, Continental General Insurance Co., Citi Ventures, Magnetar, Harmony Partners, Norwest, Adams Street Partners, LiveOak Ventures, Parker89, Era Ventures, and Javelin Venture Partners
Homeward
$120M
Austin, TX-based cash-back real estate financing company
Sequoia Capital, Benchmark Capital, and Coatue
Instinct
$1B
San Francisco, CA-based developer of general-purpose AI agents (i.e., rival to Meta’s Muse)
CoinFund, AllianceBernstein, Vista Equity Partners, Coinbase Ventures, a16z, and YC
Jeeves
$110M
Orlando, FL-based stablecoin-native banking platform for enterprises
Johnson & Johnson, Samsara BioCapital, Sheatree Capital, BMS, Kyowa Kirin, Sherpa Healthcare Partners, Western Technology Investment, and the MD Anderson Cancer Focus Fund
Link Cell Therapies
$30M
San Francisco, CA-based oncology cell therapy startup
Battery Ventures, Bessemer Venture Partners, and Coatue
Miter
$40M
San Francisco, CA-based construction workforce management platform
Future Ventur
Modulate
$25M
Somerville, MA-based audio AI startup Thoreau Ortet $500M New York City, NY-based frontier health
AI lab Long Journey Ventures, Abstract Ventures, BAM Ventures, Top Shelf Ventures, SuperAngel Fund, and AME Cloud Ventures
OuterSignal
$22M
New York City, NY-based agentic customer intelligence platform for brands
SignalFire, Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund
Outmarket AI
$34.5M
San Francisco, CA-based AI platform for insurance
Insight Partners, Overmatch Ventures, and First Round Capital
Quartermaster
$100M
Arlington, VA-based maritime surveillance startup
AT&T Ventures, Forestay, and Quadrille Capital
Reco
$55M
Altamonte Springs, FL-based AI security startup
Paper Co., Cerity Partners Ventures, and G2 Ventures
Relay
$36M
Raleigh, NC-based smart radio startup
Fidelity, Amplify, Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72, StepStone Group, AllianceBernstein, Baron Capital, JPMorgan, and the State of Michigan
SiMa.ai
$150M
San Jose, CA-based physical AI startup
GIC, CapitalG, IronArc, and SquarePeg
Supabase
$150M
San Francisco, CA-based provider of backend tools for building AI apps B Capital, Black Opal Ventures, Denver Ventures, Pave Health Ventures, Alumni Ventures,
Gaingels, Pari Passu Ventures, Spero Ventures, The Venture City, and Overwater Ventures
Tiny Health
$33M
Austin, TX-based microbiome testing company
The Column Group, TCGX, and Viking Global Investors
TriGemX Bio
$94M
New York City, NY-based developer of migraine treatments
Lux Capital, Natural Capital, Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital
Varda Space
$251M
El Segundo, CA-based orbital drug manufacturer
Lachy Groom, Abstract Ventures, John Doerr, VXI Capital, Triatomic, Susa Ventures, Dwarkesh Patel, Naveen Rao, and Sholto Douglas
Volantis
$88M
San Francisco, CA-based inference semiconductor company
