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October 23, 2020

Cyndx Insights is your daily window to the business world, focusing primarily 
on M&A activities, capital markets, and important technology trends.

Daily Insights provides global business coverage and categorizes
financial news from U.S.Europe and Asia.

U.S. & Canada

Quibi Is Shutting Down After Raising $1.75B in Funding

Quibi is shutting down. The Wall Street Journal reported sources saying founder Jeffrey Katzenberg “called investors to tell them he is shutting the service down". Read more on Crunchbase.com

Image: drserg / Shutterstock.com

TPG Collects $2.17bn So Far for Rise Fund

TPG is nearing the target for its latest impact investment fund. The firm has gathered $2.17bn for its Rise Fund II and parallel vehicles. Read more on Penews.com

Image: Alfa Photo / Shutterstock.com

T-Mobile Launches Venture Capital Fund to Support 5G Innovation

T-Mobile has launched T-Mobile Ventures, a new multi-year investment fund focused on early and emerging growth companies developing 5G products and services for the T-Mobile network. Read more on Finsmes.com
Image: Grand Warszawzki / Shutterstock.com

RA Capital Closes $461 Million Investment Fund


Venture capital firm RA Capital Management closed its second venture fund at $461 million. The new fund will enable the company to continue its investment strategy into privately-held life sciences companies.  Read more on Biospace.com
Image: Ahmetov Renat / Shutterstock.com

JPMorgan Chase Takes on Square and PayPal


JPMorgan’s new QuickAccept service lets businesses take card payments within minutes, either through a mobile app or a contactless card reader, and users will see sales hit their Chase accounts on the same day...free. Read more on Cnbc.com
Image : Turbaliska / Shutterstock.com

Emerging Trends That Will Shape Real Estate In 2021

The Urban Land Institute and PwC US have released a new report, Emerging Trends in Real Estate 2021, highlighting the evolving trends shaping the real estate industry. Read more on Forbes.com

Image: GrandeDuc / Shutterstock.com

U.S. Capital Raising and M&A Highlights

AavantiBio, a Cambridge, MA-based gene therapy company, launched with $107M in Series A financing from a syndicate of life sciences investors including Perceptive Advisors, Bain Capital Life Sciences, and RA Capital Management together with Sarepta Therapeutics, Inc. Finsmes.com
Accenture has completed its previously announced acquisition of N3, an Atlanta-based business-to-business sales firm that combines specialized talent with artificial intelligence and machine learning capabilities to enable efficient sales interactions. The terms of the transaction were not disclosed. Finsmes.com
AiDash, a leading satellite analytics company, has raised $6 million in a Series A funding round led by Benhamou Global Ventures and National Grid Partners. VCnewsdaily.com
Allonnia LLC, bioremediation company focused on waste management, launched with $40m in Series A funding from backers included Ginkgo Bioworks, Battelle, General Atlantic, Cascade Investment, and Viking Global Investors. Finsmes.com
Applied Intuition has raised $125 million in a new Series C funding round co-led by previous investors Lux Capital, Andreessen Horowitz and General Catalyst, bringing its valuation to $1.25 billion. Forbes.com
Arctic Wolf, an Eden Prairie, MN–based security operations company, raised $200m in Series E funding at a valuation of $1.3 billion. The round was led by Viking Global Investors. Finsmes.com
BCLS Acquisition, a blank check company formed by Bain Capital Life Sciences targeting the healthcare industry, raised $125 million. The company plans to target the healthcare industry in North America and Europe. Nasdaq.com
Be Biopharma, a leader in developing B cells as medicines announced a $52 million Series A financing led by Atlas Venture and RA Capital Management. VCAonline.com
BridgeHealth, a Denver, CO-based provider of surgical advocacy and centers of excellence programs for large, self-insured organizations and their members, has merged with Transcarent, a Silicon Valley-based consumer digital health company, as part of a $40m Series A financing round. Finsmes.com
CarLotz and Acamar Partners Acquisition Corp, a SPAC, have struck “a definitive business combination agreement” that would turn the used-car behemoth into a public company. Fidelity Management & Research Co. and other key investors have committed to invest $125 million in the deal. Pymnts.com
Carnegie Learning, Inc., a provider of AI for education and formative assessment, received a strategic growth investment from funds affiliated with Madison Dearborn Partners, LLC, a PE firm based in Chicago. Yahoo!News
Clayton Dubilier & Rice might acquire about $14 billion for its largest buyout fund so far, Clayton, Dubilier & Rice Fund XI LP, surpassing its fundraising aim. apkmetro.com
Cohere Health, a Boston, MA-based high growth digital health company, closed an additional $10m in funding led by Flare Capital Partners and Define Ventures. Finsmes.com
CORE Industrial Partners LLC, a Chicago-based PE firm, announced it acquired J&K Ingredients Corp, a manufacturer of baked goods ingredients with an emphasis on natural, organic and clean label products. VCAonline.com
EdgePresence, a Jacksonville, FL-based owner and operator of multi-tenant, modular data centers across key U.S. markets, received a $30M strategic investment from DataBank. Finsmes.com
Eat Just Inc, the plant-based egg producer is working with an adviser to raise at least $200 million in a transaction that may value the company at $2 billion or more. Bloomberg.com
Enviral Tech, a Eugene, Ore.-based biotechnology company focused on environmental viral surveillance solutions including COVID surface testing, closed a $1.5M seed funding round led by Rogue Venture Partners. Finsmes.com
EveryoneSocial, a Salt Lake City, UT-based SaaS employee advocacy company, closed a $7.6m Series A round of financing. The round was led by Next Frontier Capital. Finsmes.com
Finalsite, a global Ed-Tech provider, announced that HarbourVest Partners, a global private markets asset manager, has acquired a significant minority stake in the company. Financial details not disclosed. VCAonline.com
Here.fm, a new web-based communication platform founded by Jesse Boyes and Seth Harris, has today announced the close of a $2.9 million seed round from FirstMark. Techcrunch.com
H.I.G. Capital, a leading global alternative investment firm with over $41 billion of equity capital under management, announced that its portfolio company, Vision Integrated Graphics Group LLC, has acquired DX Marketing, LLC. Businesswire.com
Lili, a NYC-based banking app designed for freelance workers, raised $15M in funding  led by Group 11. Finsmes..com
O(1) Labs, a San Francisco, CA-based light blockchain company, raised $10.9M in strategic funding round co-led by Bixin Ventures and Three Arrows Capital. Finsmes.com
Orbus Therapeutics Inc., a private, late-stage biopharmaceutical company focused on the development and commercialization of therapies that treat rare diseases, announced that that it has closed an expansion of its Series A financing led by Longitude Capital, H.I.G. BioVentures and Adams Street Partners. VCAonline.com
Render, which describes itself as a ‘Zero DevOps alternative to AWS, Azure and Google Cloud, announced that it has added another $4.5 million in funding led by General Catalyst. Techcrunch.com
Resurface Labs, a Boulder, Colo.-based provider of user-centric API monitoring software for organizations to fix application issues closed a $2.0M seed funding round led by Access Venture Partners. Finsmes.com
Rokt, a global e-commerce technology company, raised US$80M in Series D funding. The round was led by TDM Growth Partners. Finsmes.com
SmartBear, a provider of software development and quality tools, announced it has secured a significant investment from Vista Equity Partners. VCAonline.com
TeleSense, is digitizing the post-harvest grain supply chain using advanced Internet of Things, real-time environmental monitoring and AI closed on a $10.2 million Series B round of financing led by Finistere Ventures. Crunchbase.com
TIBCO Software Inc, the enterprise data provider owned by Vista Equity Partners, has agreed to acquire data and analytics software company Information Builders Inc. Reuters.com
Wells Fargo & Co is exploring a sale of its asset management business, in what would be the U.S. bank’s biggest shake-up since Charles Scharf joined as CEO last year, people familiar with the matter said on Thursday. Reuters.com
Wirecard North America Inc, a unit of German payments company Wirecard AG, has been sold to Syncapay Inc, a U.S. holding company focused on payment solutions, Wirecard’s insolvency administrator said. Reuters.com
WoHo (World Home), a Cambridge, Mass.-based technology company that innovates how spaces are conceived and created, raised $4.5m in seed funding led by The Engine. Finsmes.com

International News

UK Firms Borrow More Than £60 Billion via COVID Support Schemes

British companies have borrowed more than £60 billion through government-backed COVID-19 financial support programmes as of the start of this week, the finance ministry said on Thursday. Read more on Reuters.com
Image: totojang1977 / Shutterstock.com

Hedge Funds See First Quarterly Inflows Since 2018

Hedge funds have gained their first quarterly inflow of money for the first time in over two years as investors took a shine to their performance in volatile markets. Read more on Funds-europe.com
Image: elnur / Shutterstock.com

India's Flipkart, Byju’s Boost Q3 VC Funding as Investments Bounce Back 

Venture capital financing has finally bounced back in Q3 2020, after declining for two straight quarters, despite the economic downturn and Covid-induced lockdown. Read more on Financialexpress.com
Image: Burdun Iliya / Shutterstock.com

Volt Partners with Microsoft to Usher in a New Era of Banking-as-a-Service

Aussie neobank Volt has announced a strategic partnership with Microsoft and tech provider LAB3, to develop its Banking-as-a-Service platform...to usher in a new age of banking for business.   Read more on Smartcompany.com.au
Image: Andrey Suslov/ Shutterstock.com

B2B Fintech Startups Descend on Singapore

Singapore is striving to enhance its position as Southeast Asia's financial center particularly for financial technology companies, luring promising entrepreneurs from abroad. Read more on Asia.Nikkei.com
Image:  travelpixs / Shutterstock.com

International Capital Raising and M&A Highlights

Adasky, an Israeli startup engaged in developing and manufacturing thermal imaging systems for automotive and pedestrian safety, secured $15M in Series B funding from Kyocera Corporation and Sungwoo-Hitech Co. Finsmes.com
Dealtale, a Tel Aviv, Israel-based No-Code Data Exploration Platform for revenue teams, raised seed funding from Hyperwise Ventures. The amount of the deal was not disclosed. Finsmes.com
EQT Corp, the largest U.S. natural gas producer, is considering buying rival CNX Resources, Bloomberg News reported on Thursday. Reuters.com
EQT Partners AB, the Nordic buyout firm, is set to raise as much as 650 million euros ($716 million) for its latest venture fund, focused on investments in startups. Bloomberg.com
Lendify, Swedish peer-to-peer lending upstart. reportedly locked in $115 million in funding from Insight Investment. Pymnts.com
Lonza Group AG’s specialty ingredients unit, is the target for Bain Capital and Cinven, which are joining forces to bid for the unit, which could result in one of the largest European chemicals deals of the year and could fetch around 3.5 billion Swiss francs ($3.9 billion). Bloomberg.com
Lunar, the Nordic challenger bank that started out life as a personal finance manager app but acquired a full banking license in 2019, has raised €40 million in Series C funding from existing investors. Techcrunch.com
Nets, a Nordic payments processor is moving into the Swiss point-of-sale terminal market with the acquisition of CCV Schweiz, which has ~34,000 payment terminals in Switzerland. Finextra.com
Oakley Capital Investments Limited announced that Oakley Capital IV has agreed to acquire WindStar Medical GmbH from ProSiebenSat.1 majority-owned NuCom Group. Research-tree.com
Personify XP, an anonymous digital analytics and AI personalisation platform, has closed a £550,000 pre-seed round. Investors include Founders Factory, Touker Suleyman and other high-profile angels. Uktech.news
Viagogo may need to sell all or part of StubHub, the UK's Competition and Markets Authority said on Thursday, after an in-depth probe into its $4.05 billion purchase of eBay's EBAY.O ticket reselling unit. Reuters.com
Brookfield Asset Management Inc. and Carlyle Group Inc. are the final bidders for Siemens AG’s mechanical drive unit, in a deal that could fetch as much as 2 billion euros ($2.4 billion). Bloomberg.com

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