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Scherzer Blog

The Scherzer Deal Report: June 10-14, 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

FFL Partners
Apex Infusion
Undisclosed amount
Signal Hill, CA-based provider of ambulatory infusion therapy services

Ardian
CampusParc
Undisclosed amount
Columbus, OH-based concessionaire managing parking facilities at Ohio State’s flagship campus

Blackford Capital
Eight12
Undisclosed amount
Aliso Viejo, CA-based automation and controls engineering firm

Serent Capital
HarperDB
Undisclosed amount
Denver, CO-based distributed systems platform

Great Sum Ventures
Kologik
Undisclosed amount
Baton Rouge, LA-based provider of law enforcement software

KKR
Quick Quack
Undisclosed amoun
tRoseville, CA-based car wash operator

Leonard Green Partners and Francisco Partners
RedSail Technologies
Undisclosed amount
Spartanburg, SC-based pharmacy software provider

Atlantic Street Capital
Zips Car Wash
$70M
Little Rock, AR-based operator of over 270 car wash locations in 20+ states

Clearhaven Partners
Zixi
Undisclosed amount
Waltham, MA-based software-defined video platform

Private Equity Deals

Alerce Medical Technology Partners
Alzheon
$100M
Framingham, MA-based drugmaker focused on Alzheimer’s disease

NEA, Neo, and Sequoia Capital
Anterior
$20M
New York, NY-based health insurance approval expeditor

XYZ VC, CRV, Upfront Ventures, 8VC, Toyota Ventures, Point72 Ventures, Mirae Asset Capital, Outsiders Fund, GSBackers, a16z, Shield Capital, J2 Ventures, Ravelin, Baiju Bhatt, and Avalon Capital Group
Apex
$95M
Culver City, CA-based satellite bus maker

Jeisys Medical and Catalio Capital
Avava
$35M
Waltham, MA-based medical aesthetics company

GM
Cruise
$850M
San Francisco, CA-based robotaxi and self-driving business

Adams Street Partners, Khosla Ventures, Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, and Wing VC
Cyberhaven
$88M
San Jose, CA-based data security startup

Innovation Endeavors
ElectronX
$15M
Chicago, IL-based energy exchange focused on grid transition

Microsoft, The Nature Conservancy, Premji Invest, Lingotto Investment Fund, Kinnevik, True Ventures, FPV, Level Ventures, and Jazz Venture Partners
Enveda
$55M
Boulder, CO-based drug discovery startup that focuses on medicinal plants

Nyca Partners, RPM Ventures, Streamlined Ventures, Expa Ventures, Activant Capital, Colle Capital, and Frontier VC
Findigs
$27M
New York, NY-based rental screening startup

Westly Group, Norwest Venture Partners, Pear VC, and Bull City Venture Partners
Learn to Win
$30M
Redwood City, CA-based provider of enterprise training SaaS

Morgan Stanley Expansion Capital and Bridge Bank
Mad Mobile
$50M
Tampa, FL-based provider of restaurant and retail payment SaaS

G2 Venture Partners, Wind River Ventures, and Sovereign’s Capital
Relay
$35M
Raleigh, NC-based communications platform for frontline workers

Eni and Fontinalis Partners
Swift Solar
$27M
San Carlos, CA-based solar manufacturer

Venture Capital Deals

Iconiq Growth, Atreides Management, Stepstone Group, Redpoint Ventures, Benchmark Capital, and Artisanal Ventures
AcuityMD
$45M
Boston, MA-based targeting platform for medical device companies

 

Founders Fund, DragonFly Capital, Cyber Fund, SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscrypt, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, and Spark Digital Capital
Avail
$43M
Chicago, IL-based modular blockchain startup

Databricks Ventures, Decibel, Bain Capital Ventures, Eniac Ventures, and 645 Ventures
Cube
$25M
San Francisco, CA-based semantic layer for data apps

Artis Ventures, Highland Capital Partners, NTTVC, and Questa Capital
Eko Health
$41M
Emeryville, CA-based developer of remote heart and lung disease detection tech

Innova Health Partners, Wavemaker Three-Sixty Health, Kimera Limited, Women’s Venture Capital Fund, Golden Seeds, Band of Angels, and Houston Angel Network
Materna Medical
$20M
Mountain View, CA-based developer of women’s pelvic health device.

Fonterra Co-operative Group, Breakthrough Energy Ventures, Mayfield, SOSV, Shorewind Capital, Darco Capital, Conti Ventures, and In-Q-Tel
Prolific Machines
$55M
Emeryville, CA-based protein cell production tech startup that leverages light

Khosla Ventures, General Catalyst, BOND, Founders Fund, and others
Sword Health
$30M
New York, NY-based maker of physical therapy hardware

Theory Ventures
Tobiko
$21.8M
San Mateo, CA-based data transformation startup

NEA, Nventures, Index Ventures, Radical Ventures, WndrCo, and Korea Investment Partners
Twelve Labs
$50M
San Francisco, CA-based AI company focused on video understanding

True Ventures and Prelude Ventures
Understory
$15M
Madison WI-based provider of climate risk-related insurance.

Lobby Capital, The Hive, Future Positive, Common Metal, Jony Ive, Evan Sharp, and Biz Stone
Vantage Discovery
$16M
San Jose, CA-based search and content discovery platform for e-commerce

Arch Venture Partners, NVentures, Menlo Ventures, Madrona, Lifeforce Capital, and Altitude Life Science Ventures
Vilya
$21M
Seattle, WA-based biotech focused on medicines that precisely target disease biology

Breakthrough Energy Ventures, Lowercarbon Capital, Prelude Ventures, Emerson Collective, Gigascale Capital, and Starlight Ventures
Xcimer
$100M
Redwood City, CA-based nuclear fusion startup

|Scherzer Deal Report|

The Scherzer Deal Report: June 3-7, 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

MFG Partners
$300M
Debut fund

StepStone Group
$3.3B
Sixth VC secondaries fund

WndrCo
$460M
New seed and VC funds

Yukon Partners
$765M
Fifth fund

Private Equity Deals

Tenex Capital Management
Behavioral Innovations
Undisclosed amount
Dallas, TX-based operator of 77 therapy centers for children with autism

Providence Equity Partners
Brandt Information Services
Undisclosed amount
Tallahassee, FL-based provider of outdoor recreational tech platforms

New Mountain Capital
Consor
Undisclosed amount
Houston, TX-based provider of transportation and water infrastructure engineering and consulting services

New Mountain Capital
Grant Thornton
Undisclosed amount
Chicago, IL-based auditing firm

Wynnchurch Capital
Hydraulic Technologies
Undisclosed amount
Rockford, IL-based maker of high-pressure hydraulic tools and equipment

Insight Partners
Nexus Cognitive
Undisclosed amount
Addison, TX-based provider of managed services for big data infrastructure

Consortium Brand Partners
Outdoor Voices
Undisclosed amount
New York, NY-based distressed athleisure brand

Bain Capital
PowerSchool
$5.6B
Folsom, CA-based provider of cloud software for K-12 education

Greenbriar Equity Group
Renuity
Undisclosed amount
Coral Gables, FL-based home services platform.

Trilantic North America
SOFIE Biosciences
Undisclosed amount
Dulles, VA-based radiopharmacy and CDMO

TA Associates
Solarity
Undisclosed amount
St. Louis, MO-based provider of automated clinical data processing solutions for acute and ambulatory health-care providers

Greenbriar Equity Group
Sunvair
Undisclosed amount
Valencia, CA-based provider of aircraft MRO services

L Squared Capital Partners
TeachTown
Undisclosed amount
Woburn, MA-based provider of educational solutions for students with moderate to severe learning challenges

Rockbridge Growth Equity
Vici Media
Undisclosed amount
Philadelphia, PA-based provider of white-label digital marketing and advertising solutions

Venture Capital Deals

Iconiq Growth, Atreides Management, Stepstone Group, Redpoint Ventures, Benchmark Capital, and Artisanal Ventures
AcuityMD
$45M
Boston, MA-based targeting platform for medical device companies

 

Founders Fund, DragonFly Capital, Cyber Fund, SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscrypt, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, and Spark Digital Capital
Avail
$43M
Chicago, IL-based modular blockchain startup

Databricks Ventures, Decibel, Bain Capital Ventures, Eniac Ventures, and 645 Ventures
Cube
$25M
San Francisco, CA-based semantic layer for data apps

Artis Ventures, Highland Capital Partners, NTTVC, and Questa Capital
Eko Health
$41M
Emeryville, CA-based developer of remote heart and lung disease detection tech

Innova Health Partners, Wavemaker Three-Sixty Health, Kimera Limited, Women’s Venture Capital Fund, Golden Seeds, Band of Angels, and Houston Angel Network
Materna Medical
$20M
Mountain View, CA-based developer of women’s pelvic health device.

Fonterra Co-operative Group, Breakthrough Energy Ventures, Mayfield, SOSV, Shorewind Capital, Darco Capital, Conti Ventures, and In-Q-Tel
Prolific Machines
$55M
Emeryville, CA-based protein cell production tech startup that leverages light

Khosla Ventures, General Catalyst, BOND, Founders Fund, and others
Sword Health
$30M
New York, NY-based maker of physical therapy hardware

Theory Ventures
Tobiko
$21.8M
San Mateo, CA-based data transformation startup

NEA, Nventures, Index Ventures, Radical Ventures, WndrCo, and Korea Investment Partners
Twelve Labs
$50M
San Francisco, CA-based AI company focused on video understanding

True Ventures and Prelude Ventures
Understory
$15M
Madison WI-based provider of climate risk-related insurance.

Lobby Capital, The Hive, Future Positive, Common Metal, Jony Ive, Evan Sharp, and Biz Stone
Vantage Discovery
$16M
San Jose, CA-based search and content discovery platform for e-commerce

Arch Venture Partners, NVentures, Menlo Ventures, Madrona, Lifeforce Capital, and Altitude Life Science Ventures
Vilya
$21M
Seattle, WA-based biotech focused on medicines that precisely target disease biology

Breakthrough Energy Ventures, Lowercarbon Capital, Prelude Ventures, Emerson Collective, Gigascale Capital, and Starlight Ventures
Xcimer
$100M
Redwood City, CA-based nuclear fusion startup

|Scherzer Deal Report|

The Scherzer Deal Report: May 27-31, 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

Clean Energy Ventures
$305M
Second fund

Energy Capital Partners
$6.7B
Fifth flagship fund and associated co-investment vehicles

Goldman Sachs Alternatives
$13.1B
Fifth senior direct lending fund

TCV
$3B
12th flagship growth equity fund

Private Equity Deals

KKR
Agiloft
Undisclosed amount
Redwood City, CA-based contract lifecycle management platform

Bernhard Capital Partners
Apogee Engineering
Undisclosed amount
Colorado Springs, CO-based provider of tech services to federal government clients

Homecoming Capital
Clean Energy Terminals
$50M
Valencia, CA-based port infrastructure developer for offshore wind terminals

2.0 Ventures
Feat Clothing
Undisclosed amount
Inglewood, CA-based athleisure brand.

Blue Owl Capital and Lunate
Capital Linden Capital Partners
Undisclosed amount
Chicago, IL-based PE firm focused on health care

Cerberus Capital Management
M1 Support Services
Undisclosed amount
Denton, TX-based provider of MRO and related services for U.S. government and military aircraft

Angeles Equity Partners
O’Hara’s Son Roofing
Undisclosed amount
Chicago, IL-based commercial and industrial roofer

Vista Equity Partners and insider Insight Partners
Portside
Undisclosed amount
San Francisco, CA-based provider of software to the aviation market

Shore Capital Partners
Pritzlaff
Undisclosed amount
Milwaukee, WI-based meat distribution and processor in Illinois and Wisconsin.

Hudson Glade
Quality First
Undisclosed amount
Sacramento, CA-based provider of roofing, window installation, and other home services.

Dominus Capital
Safe Haven Defense
Undisclosed amount
Phoenix, AZ-based provider of security window films

Trivest Partners
Star Shuttle
Undisclosed amount
San Antonio, TX-based provider of passenger transportation services to schools and other groups

Cambridge Capital
STAT Recovery
Undisclosed amount
Bentonville, AR-based provider of revenue recovery and audit software for retail suppliers

GTCR
Surmodics
$627M
Eden Prairie, MN-based maker of chemical coatings for medical devices and tests

Venture Capital Deals

Osang Healthcare
Allez Health
$60M
Carlsbad, CA-based biosensor developer

Paradigm, Bullish, and Polychain Capital
Babylon
$70M
West Lake Hills, TX-based Bitcoin staking protocol

HarbourVest Partners, Digitalis Ventures, F-Prime Capital, and Lerer Hippeau
Expressable
$26M
Austin, TX-based virtual speech therapy provider.

Castle Island Ventures
Felix Pago
$15.5M
San Francisco, CA-based money transfer startup focused on LatAm remittances

Commerce Ventures, Elefund and Fiserv
Forward
$16M
Austin, TX-based integrated payments startup

Fidelity, Prosperity7, Mayfield, Clear Ventures, Addition, Qualcomm Ventures, MVP Ventures, Stepstone Group, and Alumni Ventures
Frore Systems
$80M
San Jose, CA-based maker of solid-state chips for active device cooling.

Two Sigma Ventures, RA Capital, Insight Partners, Future Ventures, and Bold Capital Partners
Gameto
$33M
New York, NY-based developer of an in vitro maturation solution

M13, Lux Capital and MIT’s E14 Fund
Maven AGI
$20M
Boston, MA-based startup that helps enterprises to incorporate AI into their customer support.

Lauxera Capital Partners
Natural Cycles
$55M
New York, NY-based maker of a fertility app

Canaan Partners, Nosara, and HSBC
Reibus
$30M
Atlanta, GA-based metals marketplace

Edison Partners and StepStone Group
Solutions by Text
$110M
Dallas, TX-based startup that helps users pay bills via text

Orange Ventures, Wille Finance, La Maison Partners, New Alpha Asset Management, Adelie Capital, and ISAI
Supervizor
$22M
Brooklyn, NY-based QA platform for finance teams

StepStone Group, HighlandX, Accel, Index Ventures, 01 Advisors, Script Capital, and South Park Commons
Transcend
$40M
Walnut, CA-based data privacy platform

DCVC, a16z, and Pear VC
Valar Labs
$22M
Palo Alto, CA-based developer of cancer care prediction tool

CVS Health Ventures, Valtruis, HLM Venture Partners, and .406 Ventures
Wayspring
$45M
Nashville, TN provider of value-based care for substance use disorder

Khosla Ventures
WindBorne Systems
$15M
Palo Alto, CA-based smart weather balloon maker

Elon Musk, Andreessen Horowitz, Sequoia Capital, Valor Equity Partners, Vy Capital, Fidelity, Craft Ventures, Prince Alwaleed bin Talal, and Kingdom Holding
xAI
$6B
Burlingame, CA-based generative AI startup led by Elon Musk

|Scherzer Deal Report|

The Scherzer Deal Report: May 20-24, 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

Alcazar Energy
$490M
Second fund

Carlyle
$2.8B
Fifth Japan-focused buyout fund

Contour Venture Partners
$42M
Fifth fund

Eir Partners Capital
$496M
Second fund

Entrepreneurial Equity Partners
$546M
Second fund

Paceline Equity Partners
$780M
Second fund

Peterson Partners
$265M
10th PE fund

RedBird Capital Partners
$5.3B
Fourth flagship fund ($3.9B) and its next RedBird IMI fund ($1.4B)

Riata Capital Group
$285M
Second fund

Valar Ventures
$300M
Ninth fund

Private Equity Deals

InTandem Capital
Adams Clinical
Undisclosed amount
Watertown, MA-based clinical trial sites network

Vitruvian Partners
Aduro Advisors
Undisclosed amount
Denver, CO-based fund administrator for VC and PE firms

Kinderhook Industries
Apex Waste Solutions
Undisclosed amount
Colorado Springs, CO-based materials management company

Renovus Capital Partners
Case Work
Undisclosed amount
Austin, TX-based legal services provider

Encore Consumer
Capital Chalet Desserts
Undisclosed amount
Sacramento, CA-based maker of frozen bakery desserts and baked good inclusions

The Riverside Company
CRIO
Undisclosed amount
Boston, MA-based provider of e-clinical software

BV Investment Partners
CyberSheath
Undisclosed amount
Reston, VA-based IT services provider for companies in the defense industrial sector

Macquarie Capital
Earth Resources Technology
Undisclosed amount
Laurel, MD-based data systems and technology company that provides services to federal agencies

Nexa Equity
Easy Metrics
$31M
Bellevue, WA-based warehouse and factory labor analytics company

Core Industrial Partners
Fathom Digital Manufacturing
Undisclosed amount
Hartland, WI-based 3D printing firm

Blue Point Capital Partners
National Safety Apparel
Undisclosed amount
Cleveland, OH-based maker of personal protective equipment for the electrical, industrial and service markets

Motive Ventures,Hamilton Lane, and S&P Global
Novata
Undisclosed amount
New York, NY-based provider of sustainability solutions for private markets

KPS Capital Partners
Primient
Undisclosed amount
Decatur, IL-based maker of plant-based food and industrial ingredient

Forward Consumer Partners
Xochitl
Undisclosed amount
Irving, TX-based maker of tortilla chips and salsas

Goldman Sachs Alternatives
Xpress Wellness
Undisclosed amount
Oklahoma City, OK-based provider of health care services to underserved communities and nursing home residents across Oklahoma, Kansas, and Texas

Venture Capital Deals

InTandem Capital
Adams Clinical
Undisclosed amount
Watertown, MA-based clinical trial sites network

Vitruvian Partners
Aduro Advisors
Undisclosed amount
Denver, CO-based fund administrator for VC and PE firms

Kinderhook Industries
Apex Waste Solutions
Undisclosed amount
Colorado Springs, CO-based materials management company

Renovus Capital Partners
Case Work
Undisclosed amount
Austin, TX-based legal services provider

Encore Consumer
Capital Chalet Desserts
Undisclosed amount
Sacramento, CA-based maker of frozen bakery desserts and baked good inclusions

The Riverside Company
CRIO
Undisclosed amount
Boston, MA-based provider of e-clinical software

BV Investment Partners
CyberSheath
Undisclosed amount
Reston, VA-based IT services provider for companies in the defense industrial sector

Macquarie Capital
Earth Resources Technology
Undisclosed amount
Laurel, MD-based data systems and technology company that provides services to federal agencies

Nexa Equity
Easy Metrics
$31M
Bellevue, WA-based warehouse and factory labor analytics company

Core Industrial Partners
Fathom Digital Manufacturing
Undisclosed amount
Hartland, WI-based 3D printing firm

Blue Point Capital Partners
National Safety Apparel
Undisclosed amount
Cleveland, OH-based maker of personal protective equipment for the electrical, industrial and service markets

Motive Ventures,Hamilton Lane, and S&P Global
Novata
Undisclosed amount
New York, NY-based provider of sustainability solutions for private markets

KPS Capital Partners
Primient
Undisclosed amount
Decatur, IL-based maker of plant-based food and industrial ingredient

Forward Consumer Partners
Xochitl
Undisclosed amount
Irving, TX-based maker of tortilla chips and salsas

Goldman Sachs Alternatives
Xpress Wellness
Undisclosed amount
Oklahoma City, OK-based provider of health care services to underserved communities and nursing home residents across Oklahoma, Kansas, and Texas

|Scherzer Deal Report|

The Scherzer Deal Report: May 13-17, 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

Accel
$650M
Eighth Europe-focused VC fund

Accion
$152.5M
New fund focused on emerging market financial institutions

NewVale Capital
$167M
Debut fund

Peakbridge
$187M
Second growth fund

Sands Capital
$555M
Third life sciences fund

Starshot Capital
$35M
Debut fund

Private Equity Deals

Brightstar Capital Partners
AGS
Undisclosed amount
Las Vegas, NV-based provider of gaming equipment like slot machines

Attain Capital
Excella
Undisclosed amount
Arlington, VA-based IT consultancy

ArcLight Capital Partners
Gulf Coast Express Pipeline
Undisclosed amount
Houston, TX-based natural gas pipeline in the Permian Basin

Mill Point Capital
iQor
Undisclosed amount
Fort Lauderdale, FL-based provider of business process outsourcing solutions

FalconPoint Partners
Jennmar
Undisclosed amount
Pittsburgh, PA-based provider of ground control products for civil infrastructure and other end markets

Watermill Group
Musser Lumber Company
Undisclosed amount
Rural Retreat, VA-based maker of dried hardwood fiber

Permira
Squarespace
Undisclosed amount
New York, NY-based website-building platform for businesses and brands

Venture Capital Deals

Goldman Sachs Alternatives, Eli Lilly, Vivo Capital, RA Capital Management, Point72, EcoR1 Capital, Boxer Capital, Schrödinger, and Inning One Ventures
Ajax Therapeutics
$95M
New York, NY-based blood cancer biotech

Tiger Global, NextEquity Partners, Geodesic Capital, Dallas VC, Sequoia Capital, Kleiner Perkins, and Koch Disruptive Technologies
Alkira
$100M
San Jose, CA-based cloud connectivity company

Wellington Management, G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund
AssetWatch
$38M
Westerville, OH-based asset monitoring and predictive maintenance firm

Nat Friedman, Daniel Gross, Spark Capital, Quiet Capital, and Patrick and John Collison
Bot Co.
$150M
Scottsdale, AZ-based robotics startup

Schooner Capital, SV Health Investors, Sparta Group, Excelestar Ventures, PV Capital Management, and Catalyst Health Ventures
Brixton Biosciences
$33M
Cambridge, MA-based developer of therapies for chronic and acute pain

XYZ Venture Capital, Addition, Narya Capital, Susa Ventures, and Maverick Ventures
Chapter
$50M
New York, NY-based medicare navigation platform

Spark Capital, Dawn Capital, King River Capital, and G Squared
Cover Genius
$80M
New York, NY-based embedded insurance startup.

General Catalyst, Forerunner Ventures, and 1984
Fay
$25M
San Francisco, CA-based platform that helps dieticians launch insurance-covered practices

Radian Group
FinLocker
$17M
St. Louis, MO-based white-label financial fitness app

SaaStr, Alven, Horsley Bridge, Amplify, Shopify, Sapphire, CRV, and Transpose Platform
Gorgias
$29M
San Francisco, CA-based customer service platform for e-commerce brands

Radical Ventures
Nabla Bio
$26M
Cambridge, MA-based generative protein design startup

ABB, GS Energy, Clean Energy Ventures, and Engie New Ventures
Ndustrial
$18.5M
Raleigh, NC-based industrial energy data provider

Elephant
PayHOA
$27.5M
Lexington, KY-based provider of homeowner’s association management software

Iconiq Growth, KKR, and L Catterton
Restaurant365
$175M
Irvine, CA-based provider of restaurant management software

Transformation Capital
SmarterDx
$50M
New York, NY-based revenue cycle management company

Left Lane Capital
Steno
$46M
Los Angeles, CA-based provider of legal support and court reporting service

Aflac
Tree Line Capital Partners
c. $100M
San Francisco, CA-based lower middle-market direct lender

Accel, CRV, GV, Notable Capital, Bedrock, Geodesic Capital, Tiger Global, 8VC, and SV Angel
Vercel
$250M
Covina, CA-based front-end cloud development platform

Bessemer Venture Partners, Tru Arrow Partners, Drive Capital, Top Harvest Capital, Shasta Ventures, and ID Ventures
Voxel51
$30M
Ann Arbor, MI-based visual AI startup

Valor Equity Partners, Nvidia, Norwest Venture Partners, Micron Ventures, Qualcomm Ventures, and Hitachi Ventures
Weka
$140M
Campbell, CA-based data platform

Valo Ventures, VoLo Earth Ventures, B Current Impact Investment, MIH Capital, and Thin Line Capital
XGS Energy
$20M
Palo Alto, CA-based geothermal energy tech developer

FPV Ventures
Yendo
$15M
Dallas, TX-based provider of vehicle-secured credit cards

|Scherzer Deal Report|

The Scherzer Deal Report: May 6-10, 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

97212 Ventures
$20M
Debut fund

Avenue Capital Group
$1B+
Fifth Europe special situations fund

EnCap
$1.5B
Second energy transition fund

Iconiq Growth
$5.75B
Two new funds

Palm Beach Capital
$350M
Sixth fund

Rev1 Ventures
$6M
Seed and pre-seed fund focused on Central Ohio startups

Silver Lake
$20.5B
Seventh flagship fund

TPG
$5.3B
Eighth Asia private equity fund

Vance Street Capital
$775M
Fourth fund

Private Equity Deals

Thomas H. Lee Partners
Agiliti
$2.5B
Minneapolis, MN-based provider of health care tech management and services

Global Infrastructure Partners and CPP Investments
Allete
Undisclosed amount
Duluth, MN-based utility

Basalt Infrastructure Partners
EnviroSpark
$50M
Atlanta, GA-based EV charging company

MAI Capital Management
Harbor Wealth Management
Undisclosed amount
Boulder, CO-based wealth management firm

L2 Capital
Kosmos Q
Undisclosed amount
Devon, PA-based brand of barbecue rubs and sauces

TPG Rise Climate
Olympus Terminals
Undisclosed amount
Long Beach, CA-based renewable fuels storage provider

EQT Partners
Perficient
Undisclosed amount
St. Louis, MO-based digital consultancy

Wynnchurch Capital
Reagent Chemical & Research
Undisclosed amount
Ringoes, NJ-based distributor of hydrochloric acid

Bain Capital
Sikich
$250M
Chicago, IL-based accounting firm

Monomoy Capital Partners
Southern Exteriors
Undisclosed amount
Jackson, GA-based installer of exterior building solutions in the southeastern United States

Clearlake Capital and Francisco Partners
Synopsys
Undisclosed amount
Sunnyvale, CA-based software integrity unit 

Venture Capital Deals

Liberty Global, Shield Capital, and GP Ventures
Anetac
$16M
Los Altos, CA-based identity and security platform

Dragonfly Capital, Room40 Ventures, Selini Capital, Breed VC, FalconX, and Circle Ventures
Arbelos Markets
$28M
New York, NY-based liquidity provider for crypto derivatives markets

Breakthrough Energy Ventures, Grantham Foundation, AgriZeroNZ, Rabo Ventures, Overview Capital, and The51 Food & AgTech Fund
ArkeaBio
$26.5M
Boston, MA-based developer of a vaccine to reduce livestock methane emissions

Goldman Sachs Alternatives, Cormorant Asset Management, Nextech Ventures, Redmile Group, EcoR1 Capital, Marshall Wace, Logos Capital, Frazier Life Sciences, venBio, and Illumina Ventures
Attovia
$105M
Fremont, CA-based biotech focused on immunology and inflammation

Frazier Life Sciences, RA Capital Management, T. Rowe Price, Wellington Management, Novo Holdings, RiverVest Venture Partners, Octagon Capital, Arkin Bio Ventures, HBM Healthcare Investments, and Unicorn Capital
Bluejay Therapeutics
182M
San Mateo, CA-based biotech whose lead candidate is focused on chronic hepatitis D

Ten Coves Capital, Ankona Capital, Pelion Venture Partners, Tenaya Capital, and NewView Capital
Canopy
$35M
Draper, UT-based provider of accounting software

Touring Capital, Morgan Stanley, Nexus Venture Partners
Daloopa
$18M
New York, NY-based fundamental and historical data provider

Felicis, Radical Ventures, Amplify Partners, Elad Gil, M12, and the Amazon Alexa Fund
DatologyAI
$46M
Menlo Park, CA-based platform for automated data curation.

GV, Nextech Invest, Polaris Innovation Fund, and Alexandria Venture Investments
Delphia Therapeutics
$67M
Cambridge, MA-based cancer biotech

Zeev Ventures, Arkin Holdings, Launchbay Capital, Ibex Investors, Phoenix Insurance, and IT-Farm
Honeycomb
$36M
Chicago, IL-based digital insurer

Ingersoll Rand, Stratasys, Future Labs Capital, GC Ventures America, iGlobe Partners, Ocado, Phoenix Venture Partners and Zeon Ventures
Inkbit
$19M
Medford, MA-based additive manufacturing startup

Riverwood Capital, Norwest Venture Partners, Stripes Group, Webb Investment Network, and XYZ
Legion Technologies
$50M
Santa Clara, CA-based provider of workforce management software

Bosch Ventures, Khosla Ventures, LG Tech Ventures, Formosa Smart Energy Tech, Anglo American, Chevron Technology Ventures, Shell Ventures and Myriad Ventures
Li Industries
$36M
Pineville, NC-based battery recycling startup.

Grosvenor Food & AgTech, Prelude Ventures, BOND, Revolution Growth, and Congruent
Meati Foods
$100M
Boulder, CO-based maker of mushroom-based foods.

NFX, Grove Ventures, Secret Chord Ventures, Ronald Cohen, and Unbox Ventures
Opmed.ai
$15M
Boston, MA-based provider of operating room workflow software

Artis Ventures, Wing VC, Fusion Fund, OMX Ventures, Alexandria Venture Investments, Gaingels, Civilization Ventures, Hawktail, and Cancer Research Institute
OverT Bio
$16M
New York, NY-based developer of cell therapies for solid tumors

Flagship Pioneering
Prologue Medicines
$50M
Cambridge, MA-based drug developer focused on the viral proteome

Khosla Ventures, World Innovation Lab, Artis Ventures, OCV Partners, Kickstart Fund, and Gradient Ventures
Rad AI
$50M
San Francisco, CA-based provider of AI-guided tools for radiologists

Intel Capital and Dell Technologies Capital
RunPod
$20M
Dover, DE-based AI dev platform

B Capital, Allos Ventures, First Trust Capital Partners, and Rock River Capital
Sift Healthcare
$20M
Milwaukee, WI-based revenue cycle management software provider

Lightspeed, Nexus Venture Partners, General Catalyst, and YC
Triomics
$15M
San Francisco, CA-based provider of workflow software for oncologic clinical trials

Level One Fund, Horizons Ventures, SOSV, Collaborative Fund, and Nimble Partners
Voyage Foods
$52M
Oakland, CA-based maker of cocoa-free chocolate

A16z, Lightspeed, Thrive Capital, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital
Wiz
$1B
New York, NY-based cloud security firm

Obvious Ventures, Clearvision Ventures, Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, and First Star Ventures
Zanskar
$30M
Salt Lake City, UT-based geothermal exploration company

|Scherzer Deal Report|

The Scherzer Deal Report: April 29-May 3, 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

BlackRock
$5B
New fund with a Riyadh-based investment team

Hyde Park Venture Partners
$98M
Fourth fund

Latticework
$345M
Second fund

Private Equity Deals

Accel-KKR
Accertify
Undisclosed amount
Itasca, IL-based provider of fraud prevention solutions

Riverspan Partners
Barretts Minerals
$32M
Mount Vernon, IN-based talc supplier

KKR and Veritas
Cotiviti
Undisclosed amount
South Jordan, UT-based health analytics firm

TA Associates and LLR Partners
Edmunds GovTech
Undisclosed amount
Northfield, NJ-based provider of ERP software to local governments

Kain Capital
Essen Health Care
Undisclosed amount
Bronx, NY-based operator of medical clinics in the Bronx with over 450 practitioners

Tailwind Capital
GrayMatter
Undisclosed amount
Pittsburgh, PA-based provider of technical engineering services for automation-related issues

Maximum Effort Investments
Homage
Undisclosed amount
Columbus, OH-based provider of vintage-inspired sports and licensed apparel

Rosemont
Northside Capital Management
Undisclosed amount
Hood River, OR-based outsourced investment manager for ultra-high net worth families

Breck Partners
NPX One
Undisclosed amount
Reading, PA-based maker of polystyrene trays for fresh protein

Council Capital
OccMD
Undisclosed amount
Dallas, TX-based occupational injury medical management company

Generate Capital, Healthcare of Ontario Pension Plan, and HESTA
Pine Gate Renewables
$650M
Asheville, NC-based clean energy project owner and operator

Shore Capital Partners
PRO-spectus
Undisclosed amount
Huntington Beach, CA-based provider of market access consulting and patient services

Forest Road Asset Management, Liberty Global, Wildcat Capital Management, and Playground Productions
Range Media Partners
Undisclosed amount
Santa Monica, CA-based entertainment talent agency

WindRose Health Investors
SubjectWell
Undisclosed amount
Austin, TX-based clinical trial marketplace

H.I.G. Capital
USA DeBusk
Undisclosed amount
Deer Park, TX-based provider of industrial cleaning and infrastructure services

Charger Investment Partners
Wolf-Gordon
Undisclosed amount
New York, NY-based maker of interior surface products

Venture Capital Deals

Perceptive Advisors, Pillar VC, 380 Cap, and Accanto Partners
Adaptilens
$17.5M
Boston, MA-based maker of an intraocular lens to correct vision.

Lightrock, Lightsmith Group, Duke Energy, Sabanci Ventures, Marubeni, National Grid, Edison International, SE Ventures, G2 Venture Partners, Benhamou Global Ventures, and Shell Ventures
AiDash
$58.5M
San Jose, CA-based provider of wildfire risk software for utilities

Quiet Capital, Healthier Capital, Baszucki Group, Mike Volpi, Bling Capital, 8VC, Virtue, and Able Partners
Amae Health
$15M
San Francisco, CA-based provider of care for severe mental health illnesses

Giant Ventures, Opera Tech Ventures, and Mubadala Capital
Arbol
$60M
New York, NY-based climate insurance startup

FirstMark Capital, Vertical Venture Partners, LiveOak Venture Partners, Revel Partners, ECMC, and Crow Holdings
Backflip
$15M
Dallas, TX-based platform for acquiring and renovating single-family homes.

NEA, Lightspeed, and Sapphire Sport
Beehiiv
$33M
New York, NY-based newsletter platform founded by Morning Brew vets.

Accel, Cisco, and CrowdStrike
Corelight
$150M
San Francisco, CA-based provider of open network detection and response solutions.

Coatue, Magnetar, Altimeter Capital, Fidelity, and Lykos Global Management
CoreWeave
$1.1B
Roseland, NJ-based cloud computing platform

Insight Partners
Elisity
$37M
San Jose, CA-based provider of identity-based network micro segmentation.

JPMorgan Asset Management, Frazier Life Sciences, Avalon Ventures, Lightspeed Venture Partners, Samsara BioCapital, Amgen Ventures, Regeneron Ventures, Bregua Corp., Pappas Capital, and Alexandria Venture Investments
Enlaza Therapeutics
$100M
La Jolla, CA-based covalent biologic platform

7wire Ventures and Elevance Health
GroundGame.Health
$17M
Tampa, FL-based startup linking community-based organizations with health plans and providers.

Hamilton Ventures
Inhabitr
$27M
San Francisco, CA-based commercial real estate furnishing platform

Coatue and Sequoia Capital
Island
$175M
Dallas, TX-based provider of secure enterprise browsers

Khosla Ventures, 5AM Ventures, Gilde Healthcare, SoftBank, General Catalyst, HBM Healthcare Investments, Blue Water Life Sciences, Innovation Endeavors, and Waycross Ventures
Karius
$100M
Redwood City, CA-based provider of blood-testing for infectious disease

AMD Ventures, First Round Capital, Amplify Partners, Andrew Ng, Dylan Field, Drew Houston, Andrej Karpathy, and Bernard Arnault
Lamini
$25M
Palo Alto, CA-based enterprise platform for deploying gen AI.

Catalus Capital and Saft
LiNova Energy
$15.8M
Monrovia, CA-based developer of polymer cathodes for batteries

Friends & Family Capital, Fifth Down Capital, Goldcrest Capital, Craft Ventures, and Godfrey Capital
Peregrine
$30M
San Francisco, CA-based data integration platform for state and local governments

Ivanhoe Capital and Wilson Sonsini
Pure Lithium
$15M
Boston, MA-based developer of lithium extraction tech

BlackRock, Hamilton Lane, ParaFi Capital, and Tradeweb Markets
Securitize
$47M
Miami, FL-based platform for tokenizing real-world assets.

Maverick Capital and Translink Capital
Thintronics
$23M
Berkeley, CA-based maker of insulators for electronic applications

IVP, Citi Ventures, Geodesic Capital, Sorenson Capital, and Unusual Ventures
Traceable AI
$30M
San Francisco, CA-based API security startup

General Catalyst, 7wireVentures, Geodesic Capital, Memorial Hermann Health System, Threshold Ventures, Kinnevik, Ally Bridge Group, Human Capital, Merck Global Health Innovation Fund, Alta Partners, and Leaps by Bayer
Transcarent
$126M
San Francisco, CA-based health care navigation company

Oak HC/FT
Trovo Health
$15M
New York , NY-based AI workflow tool for health care practitioners

Iconiq Growth, Granite Capital Management, Adams Street Partners, and Sound Ventures
Truist
$169M
Culver City, CA-based custodian for RIAs

|Scherzer Deal Report|

The Scherzer Deal Report: April 22-26, 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

Decarbonization Partners
$1.4B
Debut fund

Eniac Ventures
$220M
Sixth seed fund ($160M) and a new select fund ($60M)

GEF Capital Partners
$325M
Second fund

Mercer
$3.9B
Seventh private markets fund

Norwest Venture Partners
$3B
17th fund

Vestar Capital Partners 
$1.2B
Single-asset continuation fund

Private Equity Deals

GTCR
AssetMark
Undisclosed amount
Concord, CA-based wealth management technology platform for financial advisors

Gamut Capital Management
DEX Imaging
Undisclosed amount
Tampa, FL-based provider of managed print services

Apax Digital
IANS
Undisclosed amount
Boston, MA-based provider of research and advisory services for the infosec market.

Arcline Investment Management
Kaman
Undisclosed amount
Bloomfield, CT-based aerospace and defense firm

Serent Capital
Medical Informatics Engineering
Undisclosed amount
Fort Wayne, IN-based developer of EHR and health IT software

Shoreline Equity Partners
Prime Meats
Undisclosed amount
Jacksonville, FL-based protein processor and distributor.

Granite Creek Capital Partners and Boathouse Capital
The District Communications Group
Undisclosed amount
Washington, DC-based provider of market research and communications services to federal government clients.

Century Park Capital Partners
Total Access Elevator
Undisclosed amount
Santa Fe Springs, CA-based commercial elevator modernization, maintenance, and repair services

Blackstone
Tropical Smoothie Café 
Undisclosed amount
Atlanta, GA-based restaurant chain

Apollo Global Management
US Silica
Undisclosed amount
Katy, TX-based frack-sand provider.

The Stephens Group
VisionSafe
Undisclosed amount
Kaneohe, HI-based provider aircraft cockpit smoke displacement systems

Incline Equity Partners
VMG Health
Undisclosed amount
Dallas, TX-based compliance, strategy and advisory firm

Arch Venture Partners, Foresite Capital, F-Prime, NEA, Sequoia Capital, Lux Capital, Lightspeed Venture Partners, Menlo Ventures, Two Sigma Ventures, the Parker Institute for Cancer Immunotherapy, Byers Capital, Rsquared, and SV Angel
Xaira Therapeutics
Undisclosed amount
San Francisco, CA-based AI drug discovery startup

Venture Capital Deals

City of Hope
AccessHope
$33M
Duarte, CA-based cancer care startup

Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, and Meritech Capital
Augment
$252M
Palo Alto, CA-based AI coding assistance startup

Agent Capital, Bioluminescence Ventures, and Double Point Ventures
Cerevance
$47M
Boston, MA-based developer of Parkinson’s disease therapies

Ibex Investors
Chemix
$20M
Sunnyvale, CA-based AI EV battery startup

AyurMaya, Fidelity, Invus, SymBiosis Capital Management, Velocity Capital, and Woodline Partners
Endeavor BioMedicines
$132.5M
San Diego, CA-based biotech focused on fibrosis

a16z, Atomic, and Sam Altman
Exowatt
$20M
Miami, FL-based modular energy platform for data centers

Bessemer Venture Partners
Givebutter
$50M
Austin, TX-based nonprofit fundraising and CRM platform

Vensana Capital, Treo Ventures, and Hatteras Venture Partners
iVEAcare
$27.5M
Minneapolis, MN-based developer of neuromodulation devices

Deerfield Management, Endeavor Health, Kleiner Perkins, Sandbox Industries, BlueCross BlueShield Venture Partners, and JD
Linx Lumeris
$100M
St. Louis, MO-based value-based care enabler.

Emerson Collective and GV
Midi Health
$60M
Menlo Park, CA-based virtual menopause care provider.

Polychain Capital, Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5, and Aptos Labs
Movement Labs
$38M
San Francisco, CA-based Layer 2 blockchain development firm

Lachy Groom and Tola Capital
Nooks
$15M
Oakton, VA-based prospecting platform for outbound sales team

Catalio Capital Management, The Production Board, Mountain Group Partners, Byers Capital, and Mayo Clinic
PinkDx
$40M
Daly City, CA-based women’s health startup initially focused on diagnosing gynecological cancer.

Vy Capital, Founders Fund, A* Capital, and Afore Capital
Pomelo
$35M
San Francisco, CA-based international money transfer startup

Coatue, Dragoneer, Founders Fund, and Greenoaks
Rippling
$200M
San Francisco, CA-based employee onboarding company

Khosla Ventures, Ahern Innovation Capital, Hevolution, R42, Modi Ventures, Cerigo Investments, Shanda Group, Refactor Capital, LongeVC, and Italian Angels for Growth
Rubedo Life Sciences
$40M
Sunnyvale, CA-based developer of therapies targeting senescent cells that cause chronic atopic dermatitis and chronic psoriasis.

Index Ventures, Decibel Partners, and Slow Ventures
Sublime Security
$20M
Washington, DC-based email security platform

General Atlantic, StepStone Group, and D.E. Shaw
ThreatLocker
$115M
Orlando, FL-based endpoint security company

Lightspeed Faction, Galaxy Ventures, Sequoia Capital, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures
Turnkey
$15M
New York, NY-based provider of wallet infrastructure for crypto developers

KarpReilly, The Family Fund, Grey Space Group, Jack Harlow and Machine Gun Kelly
Wilde Brands
$20M
Nashville, TN-based maker of snack chips from chicken breasts

|Scherzer Deal Report|

The Scherzer Deal Report: April 15-19, 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

Andreessen Horowitz
$7.2B
Growth fund ($3.75B), AI Infrastructure ($1.25B), AI apps ($1B), American Dynamism ($600M), and Gaming II ($600M)

Chevron
$500M
Third clean tech venture fund

Evolution Equity Partners
$1.1B
Third fund

Maven Ventures
$60M
Fourth fund

SOSV
$306M
Fifth fund

SpringTide Ventures
$65M
Second fund

Underscore VC
$58M
Third fund

Vista Equity Partners
$20B
Eighth flagship fund

Wellington Management
$385M
Cimate tech venture fund

Private Equity Deals

Forward Consumer Partners
Firehook Bakery
Undisclosed amount
Chantilly, VA-based artisan baking business

Wynnchurch Capital
Handgards
Undisclosed amount
El Paso, TX-based manufacturer and supplier of disposable food safety products for the food service industry

Godspeed Capital Management
Special Aerospace Services
Undisclosed amount
Boulder, CO-based spaceflight engineering and facilities company

Venture Capital Deals

Sunstone Capital
Accuhealth
$200M
McAllen, TX-based remote patient-monitoring company

Evolution Equity Partners, Foundation Capital, Cervin, Myriad, Point72, Outpost, and G Squared
Anvilogic
$45M
Palo Alto, CA-based enterprise data management startup

Questa Capital, Laerdal Million Lives Fund, Catalyst Health Ventures, RC Capital, and Eckuity Capital
Avive Solutions
$56.5M
San Francisco, CA-based remote cardiac arrest device maker

A* Capital, Andreessen Horowitz, XYZ Ventures, ex/ante, Costanoa Ventures, Point72 Ventures, Forward Deployed VC, and Karman Ventures
Cape
$61M
Arlington, VA-based mobile carrier

Spring Lane, Ahlström Invest, AXA Investment Managers, Climate Innovation Capital, and Tokyu Construction/Global Brain
CleanFiber
$28M
Buffalo, NY-based cardboard-to-insulation material producer.

IGP Capital, Vertex Ventures, and TPY Capital
Dot Compliance
$17.5M
Phoenix, AZ-based life sciences quality management software company

Respida Capital, Carver Road Capital, and Gala Capital Partners
Ecotrak
$30M
Irvine, CA-based facility management software platform.

Maverix Private Equity, TELUS Ventures, and I Squared Capital
Kode Labs
$30M
Detroit, MI-based maker of building energy management software.

Goldman Sachs
Kontakt.io
$47.5M
New York, NY-based hospital indoor tracking startup.

Khosla Ventures, Berkeley SkyDeck Fund, Emergent Ventures, Fusion Fund, and Surface Ventures
Loft Labs
$24M
San Francisco, CA-based Kubernetes startup

Mayfield
NeuBird
$22M
San Francisco, CA-based software and infrastructure reliability management startup.

Energy Impact Partners, Galvanize Climate Solutions, Garage Capital, Gradient Ventures, Incite Ventures, MCJ Collective, Lowercarbon Capital, and Drew Scott
Quilt
$33M
Redwood City, CA-based heat pump startup

Khosla Ventures, Founders Fund, Sequoia Capital, Greylock, 8VC, Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, and Contrary Capital
Ramp
$150M
New York, NY-based corporate finance management startup

Coatue
Rippling
$200M
San Francisco, CA-based employee onboarding tech startup

Matrix Capital Management, Intel Capital, MediaTek, Cambium Capital, CIDC, Capital TEN,Hotung Venture Group, Walden Catalyst, Dell Technologies Capital, Koch Disruptive Technologies, and VentureTech Alliance
Rivos
$250M
Santa Clara, CA-based RISC-V server tech company

Amplo and Fifth Down Capital
Two Chairs
$72M
San Francisco, CA-based in person therapy startup

Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, IBK Securities, SBVA, Primer Sazze, Company K Partners, and Premier Partners
Upstage
$72M
San Jose, CA-based document processing AI startup.

|Scherzer Deal Report|

Reminder about New Requirements for California Employers When Considering Criminal History in Employment Decisions


What is this about?
On February 27, 2024, the County of Los Angeles Board of Supervisors voted to adopt the County’s Fair Chance Ordinance for Employers (FCO). The FCO aligns with the California Fair Chance Act (FCA), also known as “Ban the Box.” However, it adds several compliance requirements when considering the applicant’s criminal record history to make an employment decision.

Effective Date:
The FCO is operative on September 3, 2024.

Who must comply:
The FCO applies to any “employer” located or doing business in the unincorporated areas of Los Angeles County who employs five or more employees regardless of location. The FCO protects both applicants seeking employment and employees seeking promotions, as well as others seeking non-traditional employment, such as contract or freelance work.

New requirements:
Notice of Intent to Conduct Background Check. This notice must be given along with any conditional offer of employment to the applicant or employee that states (1) the conditional offer is contingent upon a review of a criminal record history and (2) the employer has good cause to conduct the criminal history review “for the specific job position with supporting justification in writing.” It is not enough for the employer to merely state it reviews such information because of a generalized “safety concern.” Specific information is required.

Before employers can take any adverse action against an individual, such as rescinding a conditional job offer, the FCO requires the employer to (1) prepare a written individualized assessment of an applicant’s criminal history in the manner required by the FCO, (2) provide a form of preliminary notice of adverse action with mandatory content, (3) provide a second written individualized assessment if the individual provides information in response to the preliminary notice of adverse action, and (4) provide a final notice of adverse action if the employer makes a final decision to withdraw the conditional offer of employment or take any other adverse action (the final notice must also include mandatory content).

Why compliance matters:
The FCO authorizes public and private remedies, including civil claims. The County of Los Angeles Department of Consumer and Business Affairs (DCBA) is authorized to take appropriate steps to enforce the FCO and conduct investigations of possible violations by an employer. The DCBA may issue monetary penalties of up to $5,000 for the first violation, up to $10,000 for the second violation, and up to $20,000 for the third and subsequent violations.

How SI can help:
SI can help ensure compliance in several ways, including the timing of background checks, the distribution of mandatory and sample notices, and the monitoring of the required time periods for taking adverse action.

|Compliance Corner, Employment Decisions|
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