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.
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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