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Scherzer Blog

The Scherzer Deal Report: September 4-8, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

500 Global

$143M

Third Southeast Asia-focused fund

 

Monomoy Capital Partners
$300M
Second mid-market private credit fund

Private Equity Deals

Francisco Partners
Accela
Undisclosed
San Ramon, CA-based provider of cloud software for government clients

Frontenac
City Line
Undisclosed
West Haven, CT-based specialty foodservice distributor

Grant Avenue Capital
CREO
Undisclosed
Durham, NC-based strategic consultancy for the life sciences and healthcare markets

Staple Street Capital
Delaware Valley Floral Group
Undisclosed
Sewell, NJ-based supplier of fresh cut flowers and floral supplies

Consortium Brand Partners
Draper James
Undisclosed
New York, NY-based fashion and lifestyle brand founded by actress Reese Witherspoon

Bridgepoint
Energy Capital Partners
Undisclosed
Summit, NJ-based private equity firm

Bain Capital
Harrigton Process Solutions
Undisclosed
Chino, CA-based distributor of industrial flow control process solutions

Grong Capital
Ingsai Finance
$80M
San Francisco, CA-based high-frequency and algorithmic trading company

ZMC
InProduction
Undisclosed
Warrenville, IL-based provider of temp seating, staging, and related services for live events

FFL Partners
Johnson County Clin-Trials
Undisclosed
Lenexa, KS-based clinical research site platform

Gemspring
Midland Industries
Undisclosed
Kansas City, MO-based manufacturer and distributor of pipe and valve products

Concord Health Partners
NeuroFlow
Undisclosed
Philadelphia, PA-based behavioral health SaaS

Thoma Bravo
NextGen Healthcare
Undisclosed
Irvine, CA-based EHR/EMR company

Warburg Pincus, Prudential Financial
Prismic Life Reinsurance
Undisclosed
Bermuda-based life and annuity reinsurance company

Ridgemont Equity Partners
SmartShift
Undisclosed
Boston, MA-based services provider for SAP custom application migrations, upgrades and transformations

The Jordan Co.
Soteria Flexibles
Undisclosed
Carol Stream, IL-based flexible packaging manufacturer

Venture Capital Deals

Fine Structure Ventures, Helios Climate Ventures, Regeneration.VC, Sustainable Future Ventures, I Squared Capital, Ecosystem Integrity Fund, Cthulhu Ventures
Ambient Photonics
$30M
Scotts Valley, CA-based developer of low-light energy harvesting tech for connected devices

Decarbonization Partners, Temasek, Qatar Investment Authority
Ascend Elements
$460M
Westborough, MA-based EV battery recycler

Aramco Ventures, M&G Investments, Goehring & Rozencwajg, Baillie Gifford, Breakthrough Energy Ventures, Microsoft’s Climate Innovation Fund, BHP Ventures, Prelude Ventures
Boston Metal
$262M
Boston, MA-based developer of sustainable steelmaking solutions

Fin Capital Vertex Ventures Southeast Asia & India, Tru Arrow Partners, BDMI, Aglae Ventures, Mantis VC, GOAT Capital
Certa
$35M
San Francisco, CA-based vendor management startup focused on ESG compliance.

Spring Lake Equity Partners, Aspen Capital Group, Oak HC/FT, QBE Ventures
Clara Analytics
$24M
Santa Clara, CA-based provider of insurance claims optimization solutions

Temasek, Playground Global, M12, Samsung Venture, Nautilus Venture Partners, Entrada Ventures
D-Matrix
$110M
Santa Clara, CA-based generative AI chip startup

Nvidia, Andreessen Horowitz
Inceptive
$100M
Palo Alto, CA-based biological software startup

Deep Track Capital, Forbion, Nextech Invest, Surveyor Capital, Eli Lilly, Atlas Venture, Access Biotechnology, RA Capital Management
Mariana Oncology
$175M
Watertown, MA-based developer of radiopharmaceuticals for treating cancer

Prelude Ventures, Breakthrough Energy Ventures, Lowercarbon Capital, GV, Energy Impact Partners
Mill Industries
$70M
San Bruno, CA-based food recycling startup

TruStage Ventures, Saluda Grade Ventures, Rockefeller Asset Management
Momnt
$15M
Atlanta, GA-based embedded lending startup

GV, SR One, Atlas Venture, Bain Capital Life Sciences, BVF Partners, Gates Frontier, Lightstone Ventures, Pfizer Ventures, RA Capital Management, SV Health Investors
Nimbus Therapeutics
$210M
Cambridge, MA-based computational drug discovery platform

Andreessen Horowitz, Hashed, Endeavor, Samsung Next, David Bonderman, 11:11
Story Protocol
$54M
San Francisco, CA-based developer of an open-IP creator collaboration platform

|Scherzer Deal Report|

The Scherzer Deal Report: August 28-September 1, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Geek Ventures
New York, NY
$23M
Debut fund

Private Equity Deals

Ares Management and Macquarie Asset Management
Altafiber
$600M
Cincinnati, OH-based technology and telecom company

Shoreline Equity Partners
American Landscaping Partners
Undisclosed
Nashville, TN-based provider of landscaping and chemical application services

OneRock Capital Partners
BrightView
$500M
Blue Bell, PA-based commercial landscaper

KSL Capital Partners
Hersha Hospitality Trust
Undisclosed
Harrisburg, PA-based hotel REIT and luxury hotel owner

WestView Capital Partners
Hubstaff
Undisclosed
Fishers, IN-based provider of workforce management SaaS

SK Capital Partners
Isolatek
Undisclosed
Stanhope, NJ-based maker of passive fireproofing technologies

Cerberus Capital Management
Spring EQ
Undisclosed
Radnor, PA-based provider of home equity financing solutions

Roark Capital Partners
Subway
Undisclosed
Milford, CT-based sandwich shop chain

L Catterton
Thorne HealthTech
$680M
New York, NY-based provider of nutritional supplements

Grovecourt Capital Partners
Traffic & Mobility Consultants
Undisclosed
Orlando, FL-focused transportation planning and traffic engineering consultancy

Venture Capital Deals

NewSpring Healthcare, Peloton Equity, Merck Global Health Innovation Fund, Hamilton Lane, Flexstone Partners, Wave Equity Partners, Escalate Capital
AeroSafe Global
$43M
Rochester, NY-based provider of outsourced cold chain solutions for life sciences

Level Structured Capital, Magma Ventures, Vestech Partners, NYFF, WGG
Allseated
$20M
San Francisco, CA-based event planning platform

Bain Capital Ventures, Nexus Venture Partners, Sequoia Capital, Tribe Capital
Apollo.io
$100M
San Francisco, CA-based provider of B2B sales intelligence and engagement software

Sands Capital, Omega Funds, Soleus Capital, Eventide Asset Management, Farallon Capital, Perceptive Advisors, RTW Investments, ArrowMark Partners, Pura Vida Investments
Beta Bionics
$100M
Concord, MA-based developer of diabetes management solution

aMoon, F-Prime Capital, .406 Ventures
Better Life Partners
$26.5M
Hanover, NH-based provider of medical and behavioral health services for people with addictions

DCVC, Cleveland Avenue
CH4 Global
$29M
Henderson, NV-based startup that uses seaweed to reduce methane emissions from livestock burps

Riverwood Capital, Toba Capital
Hyperproof
$14M
Bellevue, WA-based risk and compliance management SaaS

BIP Ventures, Boathouse Capital
Mediafly
$80M
Chicago, IL-based revenue enablement startup

SignalFire, Boulton & Watt
Moxie
$15.7M
Atlanta, GA-based medspa operations platform

Hill’s Pet Nutrition, Mercury Fund, Boehringer Ingelheim
Otto
$43M
Austin, TX-based customer engagement platform for veterinary clinics

Goldman Sachs, Capricorn, T. Rowe Price
Redwood Materials
$1B
Carson City, NV-based company recycling and refining lithium-ion batteries and remanufacturing anode and cathode components

Icon Ventures, Glynn Capital, Four River Partners, K5 Global, Sequoia Capital, Greylock
Rockset
$37M
San Mateo, CA-based provider of tools for real-time search and data analytics

RA Capital Management-Planetary Health, T. Rowe Price, Mineral Resources Group, Macquarie GIG Energy Transition Solutions, Assembly Ventures, Breakthrough Energy Ventures, Chrysalix
Sortera
$30.5M
Markle, IN-based materials sorting companyLachy GroomSpeak$16MSan Francisco, CA-based English language learning platform

Top Tier Capital Partners, Okapi Ventures, Calibrate Ventures, Craft Ventures, Revel Partners, Sky Dayton
Trellis
$15M
Los Angeles, CA-based provider of state trial court data

|Scherzer Deal Report|

The Scherzer Deal Report: August 21-25, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Blackstone
$5.2B
Fourth tactical opportunities fund

Questa Capital
$397M
Third fund

Private Equity Deals

Apollo Global Management
CATEC
Undisclosed
Houston, TX-based provider of compressed natural gas, renewable natural gas, and hydrogen transportation and storage solutions

PAI Partners
Alphia
Undisclosed
Ogden, UT-based pet food maker

Ivest Consumer Partners
Cloudco Entertainment
$100M
Cleveland, OH-based owner of the rights to Care Bears and Holly Hobby

Cressey & Co.Health
Drive
Undisclosed
Framingham, MA-based provider of clinical services for patients in long-term care facilities

Trident, Bluejay Capital
Priority Courier Experts
Undisclosed
St. Paul, MN-based local B2B delivery provider

Riverwood Capital
Spycloud
$110M
Austin, TX-based identity analytics firm

Comvest Partners
Apotheco Pharmacy Group
Undisclosed amount
New York, NY-based network of specialized dermatology pharmacies

Apax Partners
Bazooka Candy Brands
$700M
New York, NY-based international marketer of confections products

Coalesce Capital and Freedom 3 Capital
Examinetics
Undisclosed amount
Overland Park, KS-based provider of occupational health compliance testing

Arcadea Group
Flight Vector
Undisclosed amount
Henderson, NV-based provider of flight dispatch software

Bain Capital
Fogo de Chão
Undisclosed amount
Plano, TX-based Brazilian restaurant chain

Align Capital Partners
Global Guardian
Undisclosed amount
McLean, VA-based duty-of-care provider

ArcLight Capital Partners
Kleen Energy Systems
Undisclosed amount
Middletown, CT-based natural gas-fired power plant

Sun Capital Partners
Koch Engineered Solutions
Undisclosed amount
Wilmington, MA-based provider of separation technologies

Highview Capital
Safety Marking
Undisclosed amount
Bridgeport, CT-based highway and roadway marking company

BV Investment Partners
The Hardenbergh Group
Undisclosed amount
Livonia, MI-based provider of temp non-clinical staffing and other health care solutions

Northleaf Capital Partners
Tillman FiberCo
Undisclosed amount
New York, NY-based developer and owner of fiber networks

Spectrum Equity
VBA
$156M
Germantown, WI-based provider of health benefits administration software

Venture Capital Deals

Aljazira Capital, Boryung Co.
Axiom Space
$350M
Houston, TX-based commercial space station operator

The Banc Funds, 50 South Capital, The Andersons Inc., Cargill, Germin8, Lewis & Clark AgriFood, The Scoular Co., Conti Ventures
Bushel
$26M
Fargo, ND-based platform for connecting farmers and agribusinesses

Koch Disruptive Technologies, Bristol Myers Squibb, DFJ Growth, Willett Advisors, Eclipse, Decheng Capital, 8VC
Cellares
$255M
South San Francisco, CA-based cell therapy manufacturing platform

Sigma Ventures, Ridge Ventures, Founders Fund, Bowery Capital, AV8, Salesforce Ventures, Tau Ventures, Okta Ventures, Incubate Fund
Cerby
$17M
Alameda, CA-based provider of access management solutions for nonstandard enterprise apps

Carom Growth Partners, SE Ventures
Clockworks Analytics
$16.1M
Boston, MA-based provider of SaaS building analytics

Breyer Capital, Bridgewater Associates
Elemental Cognition
$60M
New York, NY-based generative AI startup

Truist Bank, Maryland Small Business Development Authority
Fearless
$17M
Baltimore, MD-based digital services company

SR One, Medicxi, OrbiMed, HBM Healthcare Investments, Novartis Venture Fund, 3B Future Health Fund, Cormorant Asset Management, Wellington Management, Samsung Securities
Fore Biotherapeutics
$75M
Philadelphia, PA-based developer of cancer therapies

Particle Future
FranklinWH
$25M
San Jose, CA-based home battery startup

Bessemer Venture Partners, Battery Ventures, Motivate Venture Capital, Schematic Ventures, Waybury Capital
Fulcrum
$18M
Minneapolis, MN-based provider of cloud software for manufacturers

Andreessen Horowitz, Fidelity, BlackRock, Nvidia, Rock Springs Capital, T. Rowe Price, Menlo Ventures, Radical Ventures
Genesis Therapeutics
$200M
Burlingame, CA-based AI drug discovery company

Third Point Ventures, YL Ventures, Intel Capital, The Syndicate Group
Grip Security
$41M
Boston, MA-based SaaS identity risk management provider

EQT Growth, General Atlantic, Moore Strategic Ventures
Gympass
$85M
New York, NY-based corporate employee wellness platform

Google, Amazon, Nvidia, Intel, AMD, Qualcomm, IBM, Salesforce, Sound Ventures
Hugging Face
$245M
New York, NY-based AI startup

Premji Invest, Foundation Capital, E& Capital VC
Ikagai Labs
$25M
San Francisco, CA-based provider of generative AI solutions for tabular data

Left Lane Capital, YC, Zrosk, Global Founders Capital, Olive Tree
LemFi
$33M
Oakland, CA-based fintech focused on providing financial services to African immigrants.

Bessemer Venture Partners, Switch Ventures
Luxury Presence
$19.2M
Santa Monica, CA-based provider of marketing software for real estate brokers

General Catalyst, GV, SV Angel, Greylock, Factory
Modular
$100M
Palo Alto, CA-based AI software development platform

Drive Capital, Pelion, Kickstart
Nursa
$80M
Salt Lake City, UT-based provider of health care staffing tools

Sands Capital, Thrive Capital
Ramp
$300M
New York, NY-based corporate finance automation startup

Cormorant Asset Management, Fidelity, Goldman Sachs, Logos Capital, Perceptive Advisors, Sofinnova Investments, Surveyor Capital, T. Rowe Price, Third Rock Ventures, Arch Venture Partners, J&J
Rapport Therapeutics
$150M
Boston, MA-based developer of neuro medicines

QED Investors, Inspired Capital, Khosla Ventures, Slow Ventures, Spark Capital, Union Square Ventures
Teamshares
$124M
New York, NY-based EOP enabler for small businesses

Town Hall Ventures, Foresite Capital
Thyme Care
$60M
Nashville, TN-based oncology management platform

|Scherzer Deal Report|

The Scherzer Deal Report: August 14-18, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Angeles Equity Partners
$540M
Second fund

Assembly Ventures
$76M
Debut fund

Lone View Capital
$466M
Debut fund

Private Equity Deals

Comvest Partners
Apotheco Pharmacy Group
Undisclosed amount
New York, NY-based network of specialized dermatology pharmacies

Apax Partners
Bazooka Candy Brands
$700M
New York, NY-based international marketer of confections products

Coalesce Capital and Freedom 3 Capital
Examinetics
Undisclosed amount
Overland Park, KS-based provider of occupational health compliance testing

Arcadea Group
Flight Vector
Undisclosed amount
Henderson, NV-based provider of flight dispatch software

Bain Capital
Fogo de Chão
Undisclosed amount
Plano, TX-based Brazilian restaurant chain

Align Capital Partners
Global Guardian
Undisclosed amount
McLean, VA-based duty-of-care provider

ArcLight Capital Partners
Kleen Energy Systems
Undisclosed amount
Middletown, CT-based natural gas-fired power plant

Sun Capital Partners
Koch Engineered Solutions
Undisclosed amount
Wilmington, MA-based provider of separation technologies

Highview Capital
Safety Marking
Undisclosed amount
Bridgeport, CT-based highway and roadway marking company

BV Investment Partners
The Hardenbergh Group
Undisclosed amount
Livonia, MI-based provider of temp non-clinical staffing and other health care solutions

Northleaf Capital Partners
Tillman FiberCo
Undisclosed amount
New York, NY-based developer and owner of fiber networks

Spectrum Equity
VBA
$156M
Germantown, WI-based provider of health benefits administration software

Venture Capital Deals

Redmile Group, Bain Capital Life Sciences, RA Capital Management, Samsara BioCapital, Sanofi Ventures, New Leaf Ventures, Pontifax, Tekla Capital Management BlackRock, Mass General Brigham Ventures, Eurofarma, Soleus Capital
Abcuro
$155M
Newton, MA-based developer of anti-KLRG1 treatments for autoimmune diseases and cancer

Natural Capital, Unless
Aether
$49M
San Francisco, CA-based developer of rare metal extraction tech

SK Telecom
Anthropic
$100M
San Francisco, CA-based AI research firm

Undisclosed
BitGo
$100M
Sioux Falls, SD-based crypto custody startup

Nava Ventures, AME Cloud Ventures, Streamlined Ventures, Montage Ventures, Industry Ventures, 1707 Capital, AAF Management
Caden
$15M
New York, NY-based personal data monetization app

Guidepost Growth Equity, Education Growth Partners, Lazard Family Office Partners
ClassWallet
$95M
Hollywood, FL-based digital wallet-based purchasing and reimbursement platform for public funds

First Spark Ventures, DigiTx Partners, Phoenix Venture Partners
Figur8
$25M
Boston, MA-based musculoskeletal health startup

Lux Capital, Founders Fund, Operator Partners, Allen & Co., Fred Moll, former Sen. Bob Kerrey
$24M
Mendaera
San Mateo, CA-based healthcare robotics startup

General Motors
Mitra Chem
$60M
Mountain View, CA-based supplier of iron-based cathode materials for batteries

Breakthrough Energy Ventures, Energy Impact Partners, SCG, Titan, Microsoft’s Climate Innovation Fund, Rio Tinto, SABIC, Aramco Ventures, SDCL Energy Efficiency Income Trust, John Doerr
Rondo Energy
$60M
Alameda, CA-based energy storage developer for industrial heat and power

Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, Krust
ZetaChain
$27M
San Francisco, CA-based layer-one blockchain

|Scherzer Deal Report|

The Scherzer Deal Report: August 7-11, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Access Holdings
Baltimore, MD
$805M
Second lower midmarket fund ($525M) and co-investment commitments (c. $280M)

Blackstone
$7.1B
Third energy transition credit fund

Revelstoke Capital Partners
Denver, CO
$1.7B
Third fund

Ribbit Capital
Palo Alto, CA
$800M
10th fintech-focused VC fund

Private Equity Deals

Apollo Global Management
Accent
Undisclosed amount
Tomball, TX-based provider of baling wires

Waste Connections
Arrowhead Environmental Partners
Undisclosed amount
AL-based non-hazardous solid waste management company

Symphony Technology Group
Avid Technology
Undisclosed amount
Burlington, MA-based media editing software maker

Benford Capital Partners
BSC Industries
Undisclosed amount
Canton, MA-based distributor of industrial automation and motion control products

Novacap
Cadent
$600M
New York, NY-based TV ad tech firm

Seaport Capital
CyberlinkASP
Undisclosed amount
Dallas, TX-based provider of outsourced IT management services

Kohlberg & Co.
Engage PEO
Undisclosed amount
Hollywood, FL-based provider of HR outsourcing solutions to SMBs

RedBird-IMI
EverWonder Studio
Undisclosed amount
New York, NY-based independent nonfiction content studio

Olympus Partners
MEI Rigging & Crating
Undisclosed amount
Albany, OR-based provider of rigging and machinery moving and related services

Willis & Smith Capital
Performance Stamping
Undisclosed amount
Carpentersville, IL-based provider of metal stamping to industrial customers

KKR
Simon & Schuster
$1.62B
New York, NY-based book publisher

Goldman Sachs Asset Management
Synthica Energy
Undisclosed amount
Cincinnati, OH-based developer of biogas from food waste

Clayton Dubilier & Rice
Veritiv
c. $2.3B
Atlanta, GA-based printing and packaging company

Venture Capital Deals

Bain Capital Life Sciences, TCGX, Blackrock, Commodore Capital, Cormorant Asset Management, HB Healthcare Investments, Invus, Marshall Wace, Redmile Group, T. Rowe Price, Venrock, Vivo Capital, Ascenta Capital, Lilly Asia Ventures, OrbiMed, SR One Capital Management
ADARx Pharmaceuticals
$200M
San Diego, CA-based developer of RNA therapeutics

Flagship Pioneering
Alltrna
$109M
Cambridge, MA-based transfer RNA startup focused on codon diseases

Eclipse Ventures, Intuitive Ventures, Puma Venture Capital, Vipul Patel
Capstan Medical
$31.4M
Santa Cruz, CA-based developer of robotic-assisted heart valve surgery tech

Owl Ventures, NEA
Fizz
$25M
Palo Alto, CA-based social app for college students

General Catalyst, the Parker Institute, Mubadala
Georgiamune
$75M
Gaithersburg, MD-based monoclonal antibody developer focused on oncology and autoimmune diseases.

Insight Partners, Baseline Ventures, Haystack, Upside Partnership, Octave Ventures, Mantis VC
Haus
$17M
Mountain View, CA-based marketing ROI analytics startup

Founders Fund
Neuralink
$280M
Fremont, CA-based brain implant startup

Riverwood Capital
One Model
$41M
Austin, TX-based provider of HR analytics software

Baird Capital, Jump Capital, LiveOak, NextCoast, TDF
Osano
$25M
Austin, TX-based data privacy management startup

TPG Rise, Clearvision Ventures, NGP, Prelude Ventures, Parkway Ventures, The Rice Investment Group, Bain & Co., EDF, Alumni Ventures, ENEOS Innovation Partners
Persefoni
$50M
Mesa, AZ-based climate management and accounting platform

Intact Ventures, Lightspeed Venture Partners, General Catalyst, Founders Fund
Resilience
$100M
San Francisco, CA-based cyber risk platform

Blue Lion Global, Renegade Partners
Rightfoot
$15M
San Francisco, CA-based data connectivity startup for financial services

Macquarie Capital, Polaris Partners, .406 Ventures, F-Prime Capital Partners
Simon Data
$54M
New York, NY-based customer data platform

OVN Capital, Adit Capital, TSG, Forgepoint Capital
Symmetry Systems
$17.7M
San Jose, CA-based data security posture management startup

NewRoad Capital Partners, Progress Ventures, BDMI, S4S Ventures, Arbour Way Investors
Tracer
$18.1M
New York, NY-based business data aggregation and normalization platform

General Catalyst, Next47
Tractian
$45M
Atlanta, GA-based industrial asset monitoring startup

Temasek, Shell Ventures, Bidra Innovation Ventures, BlueScope, Galp, Samsung Venture Investment, Toppan Ventures, Tupras Ventures, Yara Growth Ventures, Zeon Ventures
Verdagy
$73M
Moss Landing, CA-based developer of electrolyzer tech for industrials

Capital One Ventures, ServiceNow
Veza
$15M
Los Gatos, CA-based identity management platform

Smith Point Capital, Citi
Virtualitics
$37M
Pasadena, CA-based data analytics and 3D visualization platform

Daniel Gross, Nat Friedman, Coatue, Insight Partners, Felicis, BOND, BloombergBeta
Weights & Biases
$50M
San Francisco, CA-based ML ops platform

|Scherzer Deal Report|

The Scherzer Deal Report: July 31-August 4, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Energize Capital
$300M
Second growth fund

Glendower Capital
$5.8B
Fifth opportunities fund

Kimmeridge
$1B
Sixth fund

NATO
€1B
Innovative NATO Defense Tech Fund

SK Capital Partners
$800M
Second Catalyst fund

Tuesday Capital
$31M
Fifth seed-stage fund

Whitehorse
$5B+
Fifth fund

Yosemite
$200M
Debut fund

Private Equity Deals

Monroe Street Partners
Brandito
Undisclosed
Richmond, VA-based promotional products platform

Angeles Equity Partners
Custom Goods
Undisclosed
Carson, CA-based provider of asset-light logistics services

HCI Equity Partners
Custom Lawn Care
Undisclosed
Butler, PA-based residential lawn care company

TPG Rise Climate, Global Principal Partners
Hybar
$700M
Osceola, AR-based metal recycler

KKR
Industrial Physics
Undisclosed
New Castle, DE-based maker of testing and measurement instruments

Arlington Capital Partners
Integrated Data Services
Undisclosed
El Segundo, CA-based provider of software for federal government customers

Francisco Partners, TPG
New Relic
$6.5B
San Francisco, CA-based observability platform

InTandem Capital Partners
OrthoNebraska
Undisclosed
Omaha, NE-based hospital focused on musculoskeletal care

City Capital Ventures
SERVPRO of Saginaw
Undisclosed
Saginaw, MI-based franchisee of SERVPRO, provider of residential and commercial property restoration services

Palladium Equity Partners
Superior Environmental Solutions
Undisclosed
Cincinnati, OH-based provider of industrial cleaning services

TSG Consumer Partners
Trinity Solar
Undisclosed
Warwick, RI-based residential solar and battery storage developer

Venture Capital Deals

Playground Global, Andreessen Horowitz, Eli Lilly, the Retinal Degeneration Fund, Hummingbird Ventures, Pillar VC
Amber Bio
$26M
San Francisco, CA-based developer of multi-kilobase gene editing platforms

Foresite Capital, TCGX, Avidity Partners, BVF Partners, Janus Henderson Investors, Acorn Bioventures, Ally Bridge Group, Decheng Capital, Longitude Capital, Malin Corp., RA Capital Management
CG Oncology
$105M
Irvine, CA-based developer of immunotherapies for bladder cancer

Forgepoint Capital
Converge Insurance
$15M
New York, NY-based cyber risk management and underwriting startup

Blackbird Ventures, King River Capital, Spider Capital, January Capital, Summit Peak Ventures
Cyble
$24M
Alpharetta, GA-based cyber threat intelligence provider

Lightspeed Venture Partners, Coatue, Dell Technologies Capital, Section 32
Endor Labs
$70M
Palo Alto, CA-based code and pipeline governance platform

Breakthrough Energy Ventures, Global Founders Capital, NJP Ventures
Equilibrium Energy
$33M
San Francisco, CA-based startup renewable power company

WindRose Health Investors
Healthmap Solutions
$100M
Tampa, FL-based population health management company focused on kidney disease.

JAZZ, B-Flexion, Amboy Street Ventures
HerMD
$18M
Cincinnati, OH-based women’s health provider

Guidepost Growth Equity
Intellum
$25M
Atlanta, GA-based enterprise learning management company

Bain Capital Life Sciences, GordonMD Global Investments, Gilead Sciences, Westlake Village BioPartners, Vida Ventures, Northpond Ventures, RTW Investments, Insight Partners, CAM Capital, LYFE Capital, jVen Capital
Kyverna Therapeutics
$60M
Emeryville, CA-based developer of cell therapies for autoimmune diseases

Ally Bridge Group, Transformation Capital, Care Capital, Omega Venture Partners, Matter Venture Partners, Delta Dental of California, the American Association of Orthodontics
LightForce Orthodontics
$80M
Burlington, MA-based maker 3D-printed dental devices

NextView Ventures, Khosla Ventures, Founders Fund, Steve McLaughlin, Steve Pagliuca, Nextera Energy
Lula
$35.5M
Miami, FL-based insurtech startup

Bessemer Venture Partners, Switch Ventures
Luxury Presence
$19.2M
Santa Monica, CA-based provider of growth marketing solutions for real estate pros

March Capital, Sanabil Investments, Prosperity7, Solutions by STC, Liberty Global Ventures, 8VC, Geodesic Capital, FirstU Capital, Valor Equity Partners
Nile
$175M
San Jose, CA-based enterprise connectivity startup

Novartis, Hikma Ventures, Intermountain Ventures, Blue Venture Fund, Echo Health Ventures, Section 32, Northpond Ventures, Deerfield Management, Casdin Capital, Merck Global Health Innovation Fund
Octave Bioscience
$30M
Menlo Park, CA-based biotech focused on multiple sclerosis

Victory Park Capital
Petal
$20M
Atlanta, GA-based consumer credit card startup

Andreessen Horowitz, Abstract Ventures, Michael Ovitz, Elad Gil
Socket
$20M
San Francisco, CA-based software security startup

HSBC, AYTK Ltd., LUN Partners Group, Fuel VC, Doha VC, Notion Capital, IDC Ventures, The Private Shares Fund
Tradeshift
$70M
New York, NY-based B2B payments and supply chain startup

Autodesk, HG Ventures, PureTerra, Arosa Capital, Riverstone Holdings
Transcend
$20M
Princeton, NJ-based maker of generative design software for sustainable infrastructure

Insight Partners, MemorialCare, Healthcare of Ontario Pension Plan, Clal
TytoCare
$49M
New York, NY-based virtual home care company

Good Growth Capital, IAG Capital Partners
VenoStent
$16M
Houston, TX-based-based developer of vascular support devices

|Scherzer Deal Report|

The Scherzer Deal Report: July 24-28, 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.

Manage your Scherzer International subscription(s).

Fundraising for PE & VC Funds

Bansk Group
New York, NY
$800M
Debut fund

Certares Management
New York, NY
$284M
First real estate hospitality fund

Comvest Partners
West Palm Beach, FL
$2B
Sixth flagship credit fund

Goodwater Capital
Burlingame, CA
$1B
Fifth early-stage fund and third opportunity fund

Polychain Capital
San Francisco, CA
$200M
Fourth fund

Supply Change Capital
Los Angeles, CA
$40M
Debut fund

Titletown
Tech Green Bay, WI
$70M
Second fund

Valhalla Ventures
Los Angeles, CA
$66M
Debut fund

Private Equity Deals

PSG
AppHub
$95M
New York, NY and San Francisco, CA-based e-commerce software company

Warburg Pincus, Centerview
Banc of California
$400M
Two California regional banks, Banc of California and PacWest, are merging under the former’s brand.

Haveli Investments, General Atlantic
Certinia
Undisclosed
San Jose, CA-based services business software provider

Oaktree Capital Management
Magnolia Wash Holdings
Undisclosed
Charlotte, NC-based chain of car wash locations

Everstone Capital, Recognize
MediaMint
Undisclosed
San Francisco, CA-based digital advertising operations provider

Apollo Global Management
PetSmart
Undisclosed
Phoenix, AZ-based chain of pet stores

TT Capital Partners
Pyx Health
Undisclosed
Tuscon, AZ-based provider of social interactions

H.I.G. Capital
RBmedia
Undisclosed
Landover, MD-based audiobook publisher

Bain Capital, Valeas Capital Partners
Ren
Undisclose
Indianapolis, IN-based provider of software for managing donor-advised funds

Rithm Capital
Sculptor Capital Management
Undisclosed
New York, NY-based asset manager

TopBuild
Specialty Products and Insulation
Undisclosed
Charlotte, NC-based mechanical, building, and spray foam insulation products supplier.

Alpine Investors
Vertex Service Partners
Undisclosed
Charlotte, NC-based residential improvement business

Venture Capital Deals

Perceptive Xontogeny Ventures, Madrona, Breakout Ventures
A-Alpha Bio
$22.4M
Seattle, WA-based synthetic biology and machine learning company

Breakthrough Energy Ventures, Climate Investment, Beazer Homes, Aramco Ventures, Building Ventures, 2150, Energy Impact Partners
Aeroseal
$67M
Miamisburg, OH-based sealant manufacturer

Mountain Group Partners, Canvas Ventures, Headline, Burst Capital, Bob Antin
Airvet
$18.2M
Los Angeles, CA-based telehealth veterinary startup

Sequoia Capital
Collaborative Robotics
$30M
Santa Clara, CA-based robot maker

L Catterton, Bessemer Venture Partners, Imaginary Ventures
GlossGenius
$28M
New York, NY-based beauty business management software company

Kineticos Ventures
Kincell Bio
$36M
Gainesville, FL-based cell therapy development and manufacturing company

Generation Investment Management
OneTrust
$150M
Atlanta, GA-based ESG data company

CPMG, Vivo Capital, First Round Capital, Manta Ray Ventures, Alumni Ventures, Asahi Kasei
Ossium Health
$52M
San Francisco, CA-based bioengineering company

Evolution Equity Partners, Salesforce Ventures, Acrew Capital, boldstart ventures, Knollwood Capital, Pelion Ventures
Protect AI
$35M
Seattle, WA-based AI security startup

Vista Credit Partners
RapidAI
$75M
San Mateo, CA-based vascular and neurovascular conditions diagnostics company

|Scherzer Deal Report|

The Significance of Background Screening in SEC’s Proposed Rule for Private Fund Managers

In an ever-evolving financial landscape, the Securities and Exchange Commission (SEC) last year proposed a new rule for regulating and monitoring the activities of investment advisors and private fund managers. The reforms, which are pending, are designed to protect private fund investors by increasing their visibility into certain practices, establishing requirements to address practices that have the potential to lead to investor harm, and prohibiting adviser activity that is contrary to the public interest and protection of investors.

The rule aims to impose stricter requirements on private fund advisors, including more comprehensive reporting and disclosure mandates, risk management measures, and operational safeguards. Although not mentioned specifically, it can easily be inferred that background screening will play an integral part in complying with the rule.

Background screening serves as an essential risk management tool that allows investment firms and the SEC to assess the integrity and competence of individuals seeking to become private fund advisors. By conducting thorough background checks, potential red flags can be identified early on, ensuring that only qualified and trustworthy professionals are entrusted with managing private funds. The following are some key reasons why background screening is relevant to the SEC’s proposed rule:

      • Investor Protection – Private fund advisors hold significant influence over their clients’ investment decisions and assets. Background screening helps identify any past misconduct or disciplinary actions, safeguarding investors from potential fraudulent schemes or unethical practices.
      • Regulatory Compliance – The rule demands increased compliance from private fund advisors. Implementing stringent background screening procedures will facilitate adherence to these regulations and ensure the eligibility of those operating within the private fund industry.
      • Market Integrity – A robust background screening process strengthens market integrity by weeding out bad actors who could potentially tarnish the reputation of the private fund industry. This fosters trust among investors and stakeholders, promoting a healthy and sustainable financial ecosystem.
      • Risk Mitigation – Background screening helps mitigate operational risks associated with hiring individuals with questionable backgrounds. Identifying potential risks early can prevent potential legal and financial liabilities that may arise due to non-compliance or misconduct.
      • Risk Management – For private fund advisors, maintaining a positive reputation is critical for attracting new investors and retaining existing clients. Background screening assists in upholding a firm’s reputation by ensuring the integrity of its team members.
      • Consistency with Other Industries – Background screening is a standard practice in many sectors of the financial industry, such as banking and accounting, and extending background screening to private fund advisors aligns this sector of the financial industry with prevailing best practices in risk management and compliance.

    As the SEC finalizes its proposed rule, it is essential for private fund advisors to adopt background screening as a proactive measure that not only aligns with regulatory expectations but also contributes to their reputation as responsible and reliable investment professionals. In doing so, the private fund industry can continue to thrive and attract investors with the assurance of a well-regulated and trustworthy financial environment.

    |Compliance Corner|

    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.

    Manage your Scherzer International subscription(s).

    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

    |Scherzer Deal Report|

    Scherzer International sponsors the Sunflower Wine Festival 2023

    This year SI is one of the sponsors of Prayers From Maria Foundation’s annual Sunflower Wine Festival held on July 8, 2023. Prayers From Maria is a charity based in Rocky River, Ohio, dedicated to funding global research into the causes, prevention, treatments, and cure for the deadliest childhood brain tumors known as gliomas.

    Ed and Megan McNamara started “Prayers From Maria Children’s Cancer Foundation” after their daughter Maria passed away in 2007 from glioma, a cancer of the brain, or brain tumor, which forms in the glial cells of the central nervous system.

    Glial cells are those that surround and support nerve cells. While some brain cancers originate elsewhere in the body, gliomas originate in the central nervous system. They are often called “primary” brain tumors. That is dedicated to funding global research into the causes, prevention, treatments, and cure for deadly childhood brain tumors.

    The foundation has a Medical Board comprising some of the country’s best doctors for this disease. Because childhood brain tumor research is underfunded, the McNamara family is diligently working to make a difference by raising public awareness and bringing hope to children and their families affected by this disease.

    Please visit their website for more information on the Prayers From Maria Foundation.

    |Press Release|
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