The Scherzer Deal Report: December 9-13, 2024

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

Carlyle
$7.1B
Third credit opportunities fund

Centana Growth Partners
$600M
Third fund

Dimension
$500M
Second fund

Humba Ventures
$40M
Second deep-tech and defense-tech fund

Laude Ventures
$150M
Debut fund

Redesign Health
$175M
New fund

Private Equity Deals

Shore Capital Partners
Agentis Longevity
Undisclosed amount
Nashville, TN-based longevity health care platform

Clarion Capital Partners
Arthur Murray International
Undisclosed amount
Coral Gables, FL-based international franchisor of dance studios

Blue Owl Capital
Bitkraft Ventures
Undisclosed amount
San Francisco, CA-based VC firm focused on gaming

Comvest Private Equity
Bland Landscaping
Undisclosed amount
Apex, NC-based provider of commercial landscaping services

TruArc Partners
DMI Personal Care
Undisclosed amount
Wharton, NJ-based contract manufacturer for beauty and personal care brands

Broad Sky Partners
Frontline Managed Services

Undisclosed amount
Atlanta, GA-based provider of managed services for the legal industry

Platinum Equity
Global the Source
Undisclosed amount
Universal City, TX-based master distributor of HVAC/R components

Google and TPG Rise Climate
Intersect Power
Undisclosed amount
Houston, TX-based renewables firm

Clear Peak Capital
ITsynch
Undisclosed amount
Orlando, FL-based provider of fleet management software for the cruise and maritime industries

New Heritage Capital
JA Moody
Undisclosed amount
Malvern, PA-based provider of marine products to U.S. Navy and commercial clients

Orion Infrastructure Capital, Nexus Holdings, Khasma Capital, Sterling Bank and Ameris Bank
Nexus W2V
$140M
Greenville, SC-based waste-to-fuels developer

Argosy Healthcare Partners
Nicklas Medical Staffing
Undisclosed amount
Jacksonville, FL-based staffing firm for pathology and histology labs

Patient Square Capital
Patterson Cos.
Undisclosed amount
Menlo Park, CA-based dental and animal health products distributor

Recognize
SDG Corp.
Undisclosed amount
Norwalk, CT-based provider of cybersecurity services

TZP Growth Equity
TruVideo
Undisclosed amount
Wellesley, MA-based provider of AI and AR communications tech for the transportation industry

Venture Capital Deals

Theory Ventures
Aampe
$18M
San Francisco, CA-based developer of AI agents for consumer apps

Coatue
Albert Invent
$22.5M
Oakland, CA-based AI platform for the chemicals sector

Bain Capital Life Sciences, Janus Henderson, OrbiMed, 3H Health Investment, Yonghua Capital, Legend Capital, and Elikon Venture
Angitia Biopharmaceuticals
$120M
Woodland Hills, CA-based biotech focused on serious musculoskeletal diseases

Sapphire Ventures and Mucker Capital
Ask Sage
$17M
Arlington, VA-based GenAI platform for DoD and other government agencies

Advent Global Opportunities, Light Street Capital, AMD Ventures, Intel Capital, and NVIDIA
Ayar Labs
$155M
San Jose, CA-based provider of optical interconnect solutions for large-scale AI workloads

Vertex Growth Fund, Nexus NeuroTech Ventures, Action Potential, Johnson & Johnson, Lightstone, Lux, GV, OSF Ventures, Ascension Ventures, TriVentures, Reimagined Ventures, Peak6, and Fiscus
Cala Health
$50M
San Mateo, CA-based bioelectronic medicine startup

Eclipse, Yu Galaxy, and Intuitive Ventures
Capstan Medical
$110M
Santa Cruz, CA-based developer of minimally invasive treatments for heart valve disease

Index Ventures
Cartesia
$22M
San Francisco, CA-based developer of state-space models

Founders Fund, Fidelity, Long Journey Ventures, Mubadala, NVIDIA, Ribbit Capital, and Valor Equity Partners
Crusoe
$600M
San Francisco, CA-based AI data center provider

Insight Partners, M12, BGV, Capital One Ventures, Engineering Capital, and Vertex Ventures
Envinced
$55M
Carlsbad, CA-based maker of accessibility dev tools

DN Capital, Framework, Clear Ventures, and Fellows Fund
Evidently
$15M
Palo Alto, CA-based AI platform for health-care workflows

Base10 Partners, Inovia Capital, White Star Capital, and Fonds de solidarité FTQ
Flare
$30M
Encinitas, CA-based cyber threat intelligence focused on data theft

Avataar Ventures and Qualcomm Ventures
LambdaTest
$38M
San Francisco, CA-based software testing platform

M12, Mayfield, Stepstone Group and Prosperity7 Ventures
NeuBird
$22.5M
San Francisco, CA-based software and infrastructure reliability management startup

Alpha Edison
One Bio
$27M
David, CA-based developer of a concentrated form of fiber

M&G Catalyst and Glade Brook Capital Partners
Pixxel
$24M
Los Angeles, CA-based developer of a hyperspectral satellite constellation

Bluestone Equity Partners
Players Health
$60M
Minneapolis, MN-based provider of athlete safety and sports insurance solutions

Deerfield Management, Foresite Capital, and Medical Excellence Capital
Pleno
$25M
San Diego, CA-based biological target detection startup

Peak XV, Titanium Ventures, Accel, and Valley Capital Partners
RapidCanvas
$16M
Austin, TX-based provider of AI agents for data scientists

Maverix Private Equity, MacKinnon, Bennett & Co., Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and YC
Raptor Maps
$35M
Boston, MA-based developer of solar farm monitoring software

Regeneron Ventures, Cure Ventures, and Invus Group
Tasca Therapeutics
$25M
Boston, MA-based oncology biotech

HubSpot Ventures, In-Q-Tel, Databricks, SK Telecom, and Snowflake Ventures
Twelve Labs
$40M
San Francisco, CA-based AI company focused on video understanding

Bessemer Venture Partners, Abstract Ventures, AI Grant, Y Combinator, Saga Ventures, and Michael Ovitz
Vapi
$20M
San Francisco, CA-based AI voice startup

Suvretta Capital Management, Longitude Capital, Surveyor Capital, Osage University Partners, PhiFund, JW Childs, and Connecticut Innovations
Veradermics
$75M
New Haven, CT-based developer of dermatologic drugs

a16zWave
Forms AI
$40M
Menlo Park, CA-based audio LLM startup

Toyota’s Woven Capital, Activate Capital, Collab Fund, Emerson Collective, and Salesforce Ventures
WeaveGrid
$28M
San Francisco, CA-based EV charging software provider

Insight Partners
Zest AI
$200M
Burbank, CA-based automated underwriting startup

|Scherzer Deal Report|

The Scherzer Deal Report: December 2-6, 2024

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

Atlas Venture
$450M
14th biotech-focused VC fund

Swish Ventures
$60M
New seed fund

Valeas
$600M
Debut fund

Private Equity Deals

Altus Capital Partners
Air Innovations
Undisclosed
Houston, TX-based maker of environmental control units for manufacturers and distributors

Vector Capital
Bigtincan
Undisclosed amount
Waltham, MA-based provider of enterprise sales enablement software

CCMP
Combined Caterers
Undisclosed amount
Charlotte, NC-based event management and catering services provider

Insight Partners
Cosmo Tech
Undisclosed amount
French provider of AI simulation software for enterprise decision-making

PSG
Element451
$175M
Raleigh, NC-based higher ed CRM

Sojourner Consumer Partners
Hawaii Coﬀee Co.
Undisclosed amount
Honolulu, HI-based coffee

Private Equity
Ingtegris
Undisclosed amount
Cranbury Township, NJ-based cybersecurity and IT consulting firm

Blackstone Tactical Opportunities, Greater Sum Ventures, Goldman Sachs, Insight Partners, and PSG
Inhabit
Undisclosed amount
Knoxville, TN-based provider of property management software

VSE
Kellstrom
Undisclosed amount
Davie, FL-based aerospace engine aftermarket company

Align Capital Partners
MKB Co.
Undisclosed amount
Belleville, PA-based maker of erosion control, pollution prevention and stormwater management products

Berkshire Partners
RJW
Undisclosed amount
Woodridge, IL-based provider of retail logistics solutions for CPG brands

CVC Capital Partners
Therakos
Undisclosed amount
Raritan, NJ-based developer of extracorporeal photopheresis delivery systems for immunomodulatory therapies

Summit Partners
UHY
Undisclosed amount
Albany, NY-based provider of accounting, tax, consulting, and advisory services

Avenue Sports Fund
Unrivaled
Undisclosed amount
New York, NY-based new 3-on-3 women’s basketball league

Venture Capital Deals

Lowercarbon Capital and Collaborative Fund
Acceleron Fusion
$24M
Cambridge, MA-based developer of muon-catalyzed fusion energy

Congruent Ventures, Liberty Mutual Investments CalSTRS, Sequoia Capital, XN, Blue Earth Capital, Wellington Management, Range Ventures, and Tao Capital Partners
Amp Robotics
$91M
Louisville, CO-based developer of trash-sorting robots and recycling facilities

Insight Partners, Battery Ventures, and insiders
Cleerly
$106M
New York, NY-based provider of early detection for heart problems

Decarbonization Partners, MassMutual Ventures, Avista Development, Clean Energy Ventures, Energy Innovation Capital, Energy, LG Technology Ventures, and Zoma Capital
ConnectDER
$35M
Philadelphia, PA-based provider of residential decarbonization solutions

Eos Ventures and TIAA Ventures
DPL Financial Partners
$23M
Louisville, KY-based platform for commission-free annuities

Canaan Partners, Kleiner Perkins, Peak XV Partners, Wing Ventures, and Recall Capital
Enterpret
$20.8M
San Francisco, CA-based customer feedback insights platform

Future Positive, Lowercarbon Capital, Japan Airlines, Mitsubishi (Americas), Mitsui, Siemens Financial Services, and H&M Group
Heirloom
$150M
San Francisco, CA-based direct air capture company

BlackRock
HPS Investment Partners
$12B
New York, NY-based private credit manager

Light Street Capital, NewView Capital and Partners Group
Lumin Digital
$160M
San Ramon, CA-based digital banking provider

Frazier Life Sciences, Deep Track Capital, Janus Henderson Investors, Logos Capital, Third Rock Ventures, Arch Venture Partners, and Matrix Capital Management
Maze Therapeutics
$115M
South San Francisco, CA-based human genetics biotech

Accel
Public
$105M
New York, NY-based investing platform

Camber Creek and Left Lane Capital
S.MPLE
$45M
New York, NY-based sales app for real estate brokers

Foresite Capital, Torch Capital, Montage Ventures, Friedom Partners, Read Capital, and One Eight Capital
Sollis Health
$33M
New York, NY-based concierge care provider

Sapphire Ventures, General Catalyst, Next47, and NGP Capital
Tractian
$120M
Atlanta, GA-based manufacturing AI startup focused on reducing downtime

Intel Capital, SYN Ventures, Sorenson Capital, Rain Capital, and Wipro Ventures
Tuskira
$28.5M
San Francisco, CA-based threat defense platform

Craft Ventures, TCV, Alta Park Capital, Greylock, Cyberstarts, Leaders Fund, Cerca, and Sheva
Upwind
$100M
San Francisco, CA-based cloud security startup

TPG, Temasek, and Neuberger Berman Capital Solutions
Veeam
$2B
Seattle, WA-based data resiliency firm

XYZ VC, Glynn Capital, Nava Ventures, Bloomberg Beta, and Mango Capital
Yurts
$40M
San Francisco, CA-based developer of AI chatbots for DoD and other high-security users

|Scherzer Deal Report|

Follow Up to Client Alert Regarding Compliance with the New York Clean Slate Act

Please note: Sample forms should NOT be construed as legal advice or counsel. Employers should consult their attorneys about their compliance responsibilities under the FCRA and applicable state law. Scherzer International disclaims any warranties, responsibility, or damages associated with or arising from the information provided in this form.

As highlighted in our client alert, the New York Clean Slate Act mandates that employers provide certain notices to applicants if an employment-related background screening report contains criminal record information. To assist our clients in meeting this requirement, we prepared a sample form which is linked below.

With any background report that contains a criminal record, we will include this form, the NYS Correction Law Article 23-A, and the Summary of Consumer Rights. You will need to forward the report and the notices to the applicant.

Links:

|Compliance Corner, Employment Decisions|

The Scherzer Deal Report: November 25-29, 2024

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

Frontline Healthcare Partners
$125M
Debut fund

Private Equity Deals

Nordic Capital
Anaqua
$2.5B
Boston, MA-based provider of IP management software

Haveli Investment
AppViewX
Undisclosed amount
New York, NY-based provider of automated certificate lifecycle management and public key infrastructure solutions

MidOcean Partners
Arnott Industries
Undisclosed amount
Merritt Island, FL-based maker of air suspension systems and suspension components for the automotive aftermarket

H.I.G. Growth Partners
Carebox
Undisclosed amount
Sanford, NC-based provider of clinical trials software

Norwest Venture Partners
Divi
Undisclosed amount
Dallas, TX-based hair care startup

Morgan Stanley Capital Partners
FoodScience
Undisclosed amount
Williston, VT-based provider of pet and human nutritional supplements

Charlesbank Capital Partners
Implan
Undisclosed amount
Huntersville, NC-based provider of economic impact data and analytical software

Sunstone Partners
KMS Technology
Undisclosed amount
Atlanta, GA-based provider of software development and testing services

Blackstone
Lancium
$500M
Houston, TX-based data center developer

Investcorp and PSP Investments
PKF O’Connor Davies
Undisclosed amount
Harrison, NY-based accountancy firm

Periscope Equity
RepTrak
Undisclosed amount
Boston, MA-based provider of reputation intelligence solutions

Venture Capital Deals

Kairos HQ, PACE Healthcare Capital, Emmeline Ventures, and Amboy Street Ventures
Alloy
$16M
New York, NY-based menopause care startup

Mitsubishi
Ample
$25M
San Francisco, CA-based EV battery swapping startup

Alter Venture Partners, Cisco Investments, Moment Ventures, Wistron, Accton, Celestica, and Qualcomm Ventures
Aviz Networks
$17M
San Jose, CA-based networking software company

Upfront Ventures
BrightAI
$15M
Hackensack, NJ-based provider of physical infrastructure monitoring solution

Blackstone Innovations Investments, Fintop Capital, and Jam Fintop
Cardo AI
$15M
New York, NY-based private credit tech platform

Astō Consumer Partners and Amberstone
Clean Skin Club
$32M
Weston, FL-based maker of disposable facial towels

Lightspeed Venture Partners, Khosla Ventures, Coatue, Dell Technologies Capital, and Nat Friedman
Distyl
$20M
San Francisco, CA-based startup that helps integrate AI into core biz workflows

Conti Ventures and The Production Board
EarthOptics
$24M
Arlington, VA-based developer of soil data software for agriculture

Kinnevik, FPV, Baillie Gifford, Premji Invest, Lingotto Innovation, Lux Capital, Dimension Capital, True Ventures, Cresset Partners, The Nature Conservancy, and Henry Kravis
Enveda
$130M
Boulder, CO-based drug discovery startup that focuses on medicinal plants

StepStone Group, Emergence Capital, Caffeinated Capital, and Pear VC
Federato
$40M
San Francisco, CA-based insurance underwriting platform

Volta Energy Technologies
Iontra
$45M
Centennial, CO-based supplier of battery charger microcontrollers

The Blackstone Group
Jersey Mike’s Subs
$8B
Manasquan, NJ-based sandwich shop chain

Tiger Global, Balderton, OTPP, 137 Ventures, a16z, Index Ventures, CRV, Sapphire Ventures, and Notable Capital
Kong
$175M
San Francisco, CA-based developer of cloud API tech

Cisco Investments, JPMorgan, K5 Global, and Nvidia
Lightning AI
$50M
New York, NY-based provider of AI dev tools

Cerberus, Murata Electronics North America Inc., IAG Capital Partners, Safar Partners, QVT, Element Six, and In-Q-Tel
Lightsynq
$18M
Boston, MA-based quantum interconnect startup

Altos Ventures, Ridge Ventures, Zigg Capital, Susa Ventures, and Amplo
Lightyear
$31M
New York, NY-based network procurement startup

Pantera Capital, Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah
Monkey Tilt
$30M
Las Vegas, NV-based online gaming platform

Benchmark
New Lantern
$19M
San Francisco, CA-based AI radiology startup

Celesta Capital, Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures
OneCell Diagnostics
$16M
Cupertino, CA-based precision oncology startup

Aliment Capital
OneRail
$42M
Orlando, FL-based omnichannel fulfillment startup

Teradyne Robotics Ventures, Toyota Ventures, Ranpak, Third Kind Venture Capital, One Madison Group, Hyperplane, and Catapult Ventures
Pickle Robot
$50M
Cambridge, MA-based developer of warehouse robots

Siddhi Capital, Piva Capital, Betagro Ventures, Chipotle, Griffith Foods, and Astanor Ventures
Plantible Foods
$30M
San Diego, CA-based maker of plant-based protein

8VC
Seen Health
$22M
San Francisco, CA-based PACE provider for senior health care

KDDI, Axon, and Linse Capital
Skydio
$170M
San Mateo, CA-based drone maker

Runway Growth Capital
Snap Mobile
$23M
Seattle, WA-based fundraising platform for schools and organizations

Goldman Sachs Alternatives
Spectro Cloud
$75M
San Jose, CA-based Kubernetes management startup

Socium Ventures, Nvidia, Databricks, and Play Time Ventures
SuperAnnotate
$36M
San Francisco, CA-based provider of software for managing large-scale AI datasets

B Capital, CommonSpirit Health, CVS Health Ventures, RA Capital Management, Nexus NeuroTech Ventures, GV, Optum Ventures, and Rock Health Capital
Synapticure
$25M
Chicago, IL-based virtual care company for patients and caregivers living with neurodegenerative diseases like Alzheimer’s and Parkinson’s

Prelude Ventures, Lowercarbon Capital, Earthshot Ventures, WovenEarth Ventures, Fall Line Capital, and Rethink Impact
Vaulted Deep
$32M
Houston, TX-based biomass carbon removal and storage startup

Spark Capital, YC, Felicis, and Day One Ventures
Wordware
$30M
San Francisco, CA-based operating system for AI development

Cook Medical, Invus Opportunities, F-Prime Capital, and Medical Technology Venture Partners
Zenflow
$24M
San Francisco, CA-based developer of a minimally invasive device for benign prostatic hyperplasia

|Scherzer Deal Report|

New California Law Prohibits Employers from Telling Applicants That a Driver’s License Is Required for a Job Unless the Position Meets a Two-Part Test

What is this about?
On September 28, 2024, Governor Newsom signed Senate Bill (SB) 1100 to amend California’s Fair Employment & Housing Act (FEHA), making it an unlawful employment practice for an employer to include a statement in a job advertisement, posting, application, or other material that an applicant “must have” a driver’s license unless the employer “reasonably” anticipates driving as an essential job function that cannot be comparably performed by alternative means.

Effective Date:
The law becomes effective on January 1, 2025, as an amendment to Section 12940 of the Government Code.

Who must comply:
The new law applies to employers who regularly employ one or more persons or regularly receive the services of one or more persons providing services under a contract or any person acting as an agent of an employer, directly or indirectly, the state or any political or civil subdivision of the state, and cities.

Employer Obligations:
Starting January 1, 2025, employers must meet a two-part test before including a statement in a job advertisement, posting, application, or other material stating that an applicant must have a driver’s license:

The employer must reasonably expect driving to be one of the job functions for the position, and
The employer must reasonably believe that satisfying the job function using an alternative form of transportation (such as ride-hailing, taxi, carpooling, bicycling, or walking) would not be comparable in travel time or cost to the business.

Why compliance matters:
Like other unlawful employment practices prohibited under the FEHA, employers who violate the new law could face an injunction or declaratory relief (such as being required to hire the applicant) or be held liable for compensatory damages, punitive damages, attorney’s fees, and costs.

What SI is doing:
To help ensure compliance with the new California license law, SI will modify its materials for California employers and applicants to indicate that providing driver’s license information is voluntary, not mandatory—unless the employer informs SI that the job position meets the new law’s two-part test.

Employer Considerations:
If a job position does not require a driver’s license, employers may want to consider excluding a motor vehicle record from the background check. This would avoid any potential violation of the new law.

|Compliance Corner, Employment Decisions|

The Scherzer Deal Report: November 18-22, 2024

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

Bain Capital
$5.7B
Second global special situations fund

Bling Capital
$270M
Fourth flagship VC fund

Blue Bear Capital
$160M
Third early-stage climate fund

Frazier Healthcare Partners
$2.3B
11th growth buyout fund

Gramercy Funds Management

$685M

Second emerging markets private credit fund

Initiate Ventures
$45M
Debut fund

Jupiter Bioventures
$70M
Debut fund

NaviMed Capital
$450M
Third fund

Neos Partners
$1.37B
Second fund

Rubicon Technology Partners
$500M
Single-asset continuation fund

Silver Point Capital
$8.5B
Latest direct lending fund

Theory Ventures
$450M
Second fund