Deals
Spendesk, an all-in-one spend management platform for finance teams, has raised EUR100 million in Series C funding led by global growth equity firm General Atlantic.
All previous investors, including Index Ventures and Eight Roads Ventures, also participated in this round, bringing Spendesk’s total funding to EUR160 million. With the additional investment, Spendesk will focus on hiring top talent and accelerating product innovation to bring more automation and insights to every aspect of business spending.
Spendesk offers an intuitive SaaS spend management solution that provides full visibility and control on all company spending — with every purchase trackable to a
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in eMindful, a provider of evidence-based, mindfulness programmes for everyday life and chronic conditions.
The investment is an add-on to Riverside’s Wondr Health (formerly Naturally Slim), a digital behavioral change company focused on weight management and preventing chronic disease within the employer-sponsored space.
This partnership builds on the clinical expertise and outcomes of the Wondr and eMindful offerings, creating a unique combination that not only addresses two top cost drivers – obesity and poor mental health – but builds a foundation of
Global Venture Capital (VC) investors continue to deploy record amounts of money into UK scaleups with nearly GBP17 billion raised in the first half of 2021.
This already surpasses the total sum raised in the whole of last year according to Venture Pulse – a quarterly report published by KPMG Private Enterprise.
The research published today using data supplied by PitchBook, recorded more than GBP6.5 billion invested into fast growth UK businesses in Q2 21. A strong Covid-19 vaccination programme and greater business confidence in the post-Brexit environment, resulted in 708 deals being completed in Q2 21, up 7
Strong equity markets, and increased demand for transformational, disruptive tech businesses, saw valuations and deal volumes, soar in the first half of 2021, says tech-focussed investment bank ICON Corporate Finance.
As the market responded to the volatility of 2020, ICON’S UK Tech M&A Snapshot reveals that a record number of 500 transactions were completed in the period January-June, with a ‘tidal wave’ of money driving M&A to near record levels .
Driven by strong equity markets, valuations averaged a lofty 23x EV/EBIT, while transaction volumes were up 47 per cent year-on-year, and up 5 per cent on 2019.
Private equity
FTX Trading (FTX.COM), the owner and operator of the FTX.COM cryptocurrency exchange, has closed a USD900 million Series B fundraise, valuing the Company at USD18 billion.
This new financing round will expand FTX’s global presence, accelerate the Company’s growth, and represents one of the largest raises for a crypto company.
Over 60 investors participated including Paradigm, Sequoia Capital, Thoma Bravo, SoftBank, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator Investment Group, Sino Global Capital, Multicoin, the Paul Tudor Jones family, Izzy Englander, Alan Howard, VanEck, Hudson River Trading, and Circle.
Coave Therapeutics, a clinical stage biotechnology company focused on developing life changing gene therapies in rare Ocular and CNS (Central Nervous System) diseases, has raised an additional EUR21.2 million (USD25.1 million) of Series B funding, bringing the total raised to EUR33.1 million (USD39 million).
This latest financing was led by Seroba Life Sciences, supported by new investors Théa Open Innovation and eureKARE alongside existing shareholders Fund+, Omnes Capital, V-Bio Ventures, Kurma Partners, Idinvest, GO Capital, and Sham Innovation Santé/Turenne.
Coave Therapeutics will use the proceeds from this fundraising to support the execution of its corporate strategy, which is focused
Aromyx, a specialist in applying biotechnology and data science to capture unique sensory data, has closed an oversubscribed USD10 million Series A round of financing led by Rabo Food&Ag Innovation Fund and SOZO Ventures.
Existing investors Ulu Ventures, Radicle Growth, Capital Energy and Merus Capital also participated in the round.
Aromyx has developed the largest database of human receptors, ingredients/chemicals and word descriptors in the world using a proprietary biotechnology platform. Aromyx tests consumer products and ingredients against these receptors to quantitatively determine how a person would perceive that product. Aromyx then applies this unique data to understand individual
Although private equity deal activity slowed down a bit in Q2 from the first quarter of 2021, the speed at which PE deals closed continued, leading to a massive uptick in deal value, according to Pitchbook’s latest European PE Breakdown report.
In the second quarter of 2021, around 1,800 deals closed at a total value of EUR169.6 billion, the report showed – which represents a year-on-year increase of 161.2 per cent and 137.3 per cent, respectively. This constitutes Europe’s second-highest quarterly numbers so far, driven by activity in the core middle market.
The lockdown of economies around the world reshaped
In this podcast, Private Equity Wire speaks to Randy Schwimmer (pictured), head of senior lending origination and capital markets at Churchill Asset Management, about capital markets, deal trends and the current private equity middle-market lending environment.
Vestwell, a specialist in workplace savings and investing programmes, has raised USD70 million in a Series C financing round led by Wells Fargo Strategic Capital and Fin Venture Capital. A host of other financial services and fintech leaders also participated, including Goldman Sachs, Morgan Stanley, Manulife, Point72, Nationwide Ventures, Allianz Life Ventures, Northwestern Mutual, FinTech Collective, Greenspring Associates, Primary Venture Partners, Teamworthy Ventures, F-Prime Capital, Industry Ventures, and Commerce Ventures.
Vestwell provides the underlying infrastructure for workplace savings and investing programs, such as 401(k) and 403(b) retirement plans. The firm’s API-based technology is designed to support a diverse ecosystem of
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