NYSE's $12B Acquisition, Kylie Jenner's Stake Reclaim, and SoftBank's Semiconductor IPO Journey
September 1, 2023's biggest news in the private markets.
Mergers, Acquisitions, & Investments:
Big Moves on Wall Street: The NYSE's parent, Intercontinental Exchange, is about to drop a cool $11.7B to snap up mortgage data guru, Black Knight. Mark your calendars for September 5th, folks - the FTC just gave it a thumbs up! 📅💰
Rotech's Billion-Dollar Tease: Word on the street is Rotech Healthcare might be up for grabs! With a potential price tag of over $1.5B, it's the hottest ticket in the home medical equipment scene. 🏥💸
Retail Drama Alert: Fortress Investment Group is shelling out $1.5B for the Sogo & Seibu Co. department store chain. But wait, there's a twist! Employees might just go on strike.
Kylie's Cosmetic Comeback: Remember when Kylie Jenner sold a majority of her beauty empire to Coty for $600M? Rumor has it she's thinking of buying back her throne. 👑💄
AltaGas' Power Play: Canadian energy titan AltaGas is about to supercharge its operations, acquiring natural gas assets from Tidewater Midstream for $480M. 🍁🔥
Zevra's Lifesaving Deal: Zevra Therapeutics is on a mission, agreeing to acquire Acer Therapeutics, the team behind life-threatening disease therapies, for up to $76M. 🧪❤️
Burger King Brazil's Royal Rumble: Zamp shareholders said "No way, José!" to a takeover proposal from Abu Dhabi’s Mubadala, even after they cooked up a 20% stake in the company. 🍔👑
McLaren's Electric Ride: McLaren's e-mobility squad is revving up to acquire the bankrupt Dutch e-bike sensation, VanMoof. Talk about a turbocharged deal! 🚴⚡
Venture Capital:
AI21 Labs' AI Extravaganza: This generative AI prodigy just raked in a whopping $155M in Series C, skyrocketing to a $1.4B valuation. Hats off to Walden Catalyst, Pitango, and others for leading the charge! 🚀🤖
Elemental Cognition's Brainy Boost: Solving the world's toughest problems using AI? No sweat! They've just bagged $60M in Series B, with a little help from Bridgewater Associates and friends. 🧠💡
Otto's Purrfect Pitch: This vet clinic engagement platform just fetched a cool $43M in Series B, thanks to Mercury Fund and Boehringer Ingelheim. Pets everywhere rejoice! 🐾💼
Sortera's Sorting Spree: Making material sorting a breeze, Sortera Technologies just secured a solid $30.5M Series C, led by the savvy RA Capital Management. ♻️🔍
UrbanVolt's Sunny Days Ahead: The Solar-as-a-Service sensation, UrbanVolt, is shining brighter with a $28.3M boost, all thanks to Verdane. ☀️🔌
Speak's Linguistic Leap: Wanna learn English? Speak's app just got a $16M Series B-2 endorsement, led by the angelic Lachy Groom. 🗣️📚
Teale's Mindful Millions: This French mental health platform for employees just brewed an $11M Series A, with a sprinkle of Alter Equity and Bpifrance's magic. 🧘♂️🇫🇷
Branchspace's Jet-Set Journey: Travel tech trailblazer Branchspace is flying high with a fresh $6.4M, thanks to Gresham House Ventures. ✈️🌍
FlipGive's Sporty Score: Helping youth sports teams fundraise, Toronto's FlipGive just netted $5M, co-led by Thrive Venture Fund and Framework Venture Partners. 🏀💰
Datavations' Data Dive: Crafting market research software like a pro, Datavations just secured a $4.3M seed round, led by the visionary Nevcaut Ventures. 📊🔍
TeamSense's Time Tracker Triumph: Keeping an eye on the hourly workforce, TeamSense clocked in a $4M round, all thanks to Bonfire Ventures. ⏰👥
FirstMate's NFT Nautical: Helping NFT creators sail smoothly, FirstMate anchored a $3.8M funding round, steered by Dragonfly Capital. ⚓️🎨
Occuspace's Occupancy Odyssey: Making space management a cinch, Occuspace just landed a $3.6M seed round, led by the stellar Okapi Venture Capital. 🏢📊
IPO:
Arm's Grand Debut: SoftBank Group's shining star, the semiconductor unit Arm, is hitting the road for a dazzling investor showcase! Mark September 13 on your calendars for the big share pricing reveal. And the excitement doesn't stop there - trading kicks off the very next day. With sights set on raising a cool $5-7B, Arm's stepping into the spotlight with a jaw-dropping valuation of $60-$70B. Get ready, Wall Street! 🌟📈🎉
Debt:
Asset Reconstruction's Global Quest: India's very own distressed assets maestro, Asset Reconstruction Company, is on the hunt! Backed by the powerhouse Avenue Capital, they're casting a global net to find a partner ready to snap up a whopping $665M in soured loans. It's a treasure hunt for the financial ages, and the clock's ticking for 2023! 🌍💼🔍
Bankruptcy:
Benitago's Unexpected Twist: From a soaring $325M capital raise to hitting the brakes with bankruptcy protection, Benitago's journey is nothing short of a rollercoaster! Known for scooping up Amazon-selling businesses, this e-commerce giant's tale is a stark reminder of the unpredictable world of online retail. Hold onto your shopping carts, folks! 🛒📉🎢
Fundraising:
HDFC's Real Estate Rumble: HDFC Capital Advisors, the financial arm of India's banking behemoth HDFC Bank, is on a mission to amass a staggering $2B for a swanky real estate private credit fund. Talk about building dreams! 🏢💰
Jiaravanon Family's Billion-Dollar Bet: Steering the mighty Charoen Pokphand Group and LDA Capital, the Jiaravanon dynasty is setting their sights on a cool $2B raise. Their target? The CPFam-LDA Asia Growth Fund, aimed at turbocharging pre-IPO gems. 🚀🌏
VC Realization's Tech Triumph: Closing the deal with a whopping $323M, VC Realization Capital Partners Management is all set to back the next big names in tech with their Realization Capital Partners II. Silicon Valley, watch out! 🖥️💡
XP's Soccer Spectacle: Brazilian investment maestro XP is kicking off a fund with a goal of $162M. Their game plan? Securing commercial rights to Brazil's soccer elites. Gooooal! ⚽🇧🇷
HashKey's Crypto Crusade: Making waves in the crypto sea, HashKey Capital is launching a pioneering secondary market fund. Their ambition? Altcoins that can outshine even Bitcoin. To the moon! 🚀🌕