Five Breaking News Haikus

FOLLOW subscribe SHARE June 30, 2017 1. Vote. No vote. Vote?!? No. Twenty-two million souls breathe a sigh of relief   2. What? Doitlooklike I'mleftoutBadandBoujee? Mic. Mic. Mic…………Mic…………<drop>   3. Rihanna in love. Yasss! Wait. That guy? RIHANNA NEEDS TO GO TO CHURCH   4. Aging Romanov rails into the Android light: Bloody face Mika.   5. A Sprint to Get In RocNation. A business, man. Tidal wave of Juice.   Have a lyrical weekend. I am so grateful for you. Note: raceAhead returns on July 6. . On Point The revised travel ban begins The modified travel ban began last night, with new rules that aim to prevent the chaos of the last go round. At least for now, the travel restrictions are temporary -- 90 days for visitors and 120 days for refugees coming from six Muslim-majority countries (Iran, Libya, Somalia, Sudan, Syria and Yemen). One sticking point has been the definition of "bona fide" close relationships, which prevents grandparents, grandchildren, uncles, aunts, cousins and fiances from entering the country. Though there was little fanfare at the airports last night, experts say to expect more fights in court. Washington Post The fallout from the Binary Capital scandal spreads to include the entire venture capital industry Writers Jessica Guynn and Jon Swartz explore the growing crisis around Binary Capital and the entire venture community, in this must read report. The ugly charges of sexual harassment leveled at Jason Caldbeck, aided and abetted by the silence of his peers, has increased the number of people publicly calling for change. "More women have begun speaking out, flooding social media with raw recollections ripped from their work lives of being subjected to leering bosses, crude remarks and being groped and assaulted," they report. And, in case you were wondering, women, African Americans and Latinx professionals are still significantly underrepresented in venture capital, according to a December analysis. USA Today The Trump Administration will review transgender murders as possible hate crimes It's a rare bit of empathy from an administration that is not known to lean that way. In response to the alarming uptick in crime against transgender people - 22 were murdered in 2016, and 14 so far this year - Attorney General Jeff Sessions ordered a review of these cases to determine their causes. "I specifically directed that the files of these cases be reviewed to ensure that there is no single person or group behind these murders, or to what extent hate crime motivation lies behind such murders," he said. Newsweek The Trump Administration rescinds protections for transgender students in ongoing "bathroom debate" Back to business as usual: The President pushed past his own education secretary to rescind rules that allowed transgender students to use bathrooms that correspond with their gender identity. The move was endorsed by Attorney General Jeff Sessions, who has strongly advocated against the expansion of rights and protections for the LGBTQ community. The already painful debate is now entering a new phase, one that casts Sessions in an odd light."His allyship falls somewhere between 'keep the students in the right bathrooms' and 'let's make sure there's not a serial killer on the loose,' observes Fortune's Stacy Jones. New York Times The Montreal Pride Parade raised questions about systemic racism The controversy stems from a video of the lead float, which was designed to commemorate the founding of Montreal. But the optics were off - four young black men were seen pushing the float, which bore a white singer and white pianist playing "People of the Land" on a white piano. The subordinate position of the black men compared to the position of the white stars spurred a debate on social media. "The organizers didn't have a sense of black history to see right away what this looked like," said the president of one organization focused on inclusion. Another video commenter posted, "If the organizers of the event had a minimum of sensitivity and understanding of social realities for people of color, this mess would never have happened." New York Times . The Woke Leader Your raceAhead summer reading list! I recently asked some raceAhead experts a simple question: What book would you recommend to someone seeking to better understand the diverse world around them? I specifically targeted corporate librarians, academic experts, and D&I practitioners for their best advice. They did not disappoint. It's been a true delight to collect these heartfelt recommendations and share them with you - now updated with even more wonderful ideas. Due to overwhelming demand (thanks!) we'll be making this a regular feature. But for now, hit the beach on Independence Day with some reads designed to free your mind. Fortune Ai Weiwei is reunited with "Trace," his Lego-based portrait series about free speech Ai created the series of detailed portraits of political prisoners and activists, all made from Lego pieces, while he was under house arrest in China. (He'd been beaten so badly by Chinese authorities that he needed brain surgery.) The exhibit was first shown at Alcatraz, San Francisco's famous former penitentiary, in 2014, but the artist was unable to attend as he was prevented from traveling. Now, reunited with his passport, Ai is in the U.S. for the first-ever gallery showing of the works, which recently opened at the Hirshhorn Museum in Washington, D.C. Get there if you can; the show runs through January 1, 2018. Click through for a preview video, and watch Ai see his exhibit for the first time. He looks happy. NPR African Americans are three times as likely to die from exposure to unhealthy air than the general population In the most comprehensive study to date on air quality and pollution, Harvard researchers found that not only does dirty air make Americans sick, but it kills thousands in the U.S. every year. African Americans, many of whom do not have access to adequate health care, are three times as likely to die from exposure to polluted air compared to the general population. According to the researchers, small remedies would help reduce this deadly pollution: About 12,000 lives could be saved each year by cutting the nationwide level of fine particulate matter in the air by just 1 microgram per cubic meter of air below current standards. NPR . content from Deloitte Seeking: manufacturing talent Many consider manufacturing vital to the economy but are hesitant to pursue it as a career, says a new study from Deloitte, The Manufacturing Institute, and the National Association of Manufacturers. What might manufacturers do to attract the best? Read More Here . . Quote Choose your leaders with wisdom and forethought. To be led by a coward is to be controlled by all that the coward fears. To be led by a fool is to be led by the opportunists who control the fool. To be led by a thief is to offer up your most precious treasures to be stolen. To be led by a liar is to ask to be told lies. To be led by a tyrant is to sell yourself and those you love into slavery. —Octavia Butler . EMAIL Ellen McGirt subscribe share: . 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Two Stories That Help Explain Runaway Drug Prices

FOLLOW subscribe SEND TIP June 30, 2017 Having now decamped to their home sanctuaries for the Fourth of July weekend, Senate Republicans may get a momentary break from the pressure to have to vote on a Trumpcare bill their leadership wants, the President sort-of seems to want—and four-fifths of Americans appear to detest. Good. After the fireworks and festivals, the barbecues and backyard banquets, maybe they'll get to curl up on their senatorial Barcaloungers in their well-appointed senatorial dens, and read. They can start with a pair of articles that were published by Bloomberg this morning and yesterday. This morning's piece, by Robert Langreth, explores why the prices for many generic drugs—including essential cancer-fighting medicines—have risen, in some cases to an "extraordinary" degree, according to the Government Accountability Office. Prices for roughly 300 generic drugs at least doubled from 2010 to 2015. In yesterday's article, Langreth and Paul Barrett point to what some plaintiffs allege is a more scandalous behind-the-scenes arrangement that's helping to drive drug costs ever higher: that drug makers raise their prices in part to allow middlemen known as pharmacy benefit managers, or PBMs, to demand fatter rebates on those drugs, which they then share with their clients (who are the companies ultimately paying the coverage bills and who hire the PBMs to lower their costs). Got that? "One of the main functions of PBMs," explain Barrett and Langreth, "is to elicit rebates from drug manufacturers on behalf of health plans. The incentive—or threat—is that if drug companies fail to pay rebates, they might not win spots on a list of preferred medications that the PBMs maintain. Absence from the list, known as a formulary, means that health plans won't cover the drugs in question, which would cut into the manufacturers' sales." The drug at the heart of four lawsuits in New Jersey is insulin—"a century-old medicine that for most of its history cost $15 or less," write Barrett and Langreth, but "whose list price has risen more than 270 percent over the past decade." Federal prosecutors, report the Bloomberg writers, "are also investigating relationships between PBMs and large drug companies" and the U.S. Attorney's Office in Manhattan has ordered three makers of insulin to turn over documents regarding those relationships. ("The three drug companies say they're cooperating with the government's document demands," Bloomberg reports. "The same companies and the three PBMs say the private suits are meritless"—with one PBM CEO declaring: "It is a complete falsehood that we would prefer prices to go up.") The PBM clients, in any case, benefit from the rebates—though it's hard to know how much because, as the Bloomberg writers point out, the after-rebate "net price" they ultimately pay is confidential. But others—notably the uninsured—are left to pay the higher list prices. And, as Barrett and Langreth write, drug makers often raise those list prices "to make up some of the lost revenue" from rebating. FORTUNE contributor Katherine Eban dove into the murky PBM-client-drugmaker nexus back in 2013, in a classic feature entitled, "Painful Prescriptions." And it would seem that little has changed since then. Maybe the senators will, in their quiet time at home, absorb this thoughtful reporting—then come up with some good ideas to combat the outrageous surge in the price of medicines, and of healthcare in general. Maybe that's a way for them to deliver on their promises to their constituents—who really just want some way to afford the medications their families need, not have their insurance taken away or their premiums surge. Then, maybe next Independence Day, when they're at their hometown fireworks display, some good soul might come over to hand them a cold beer—which is what big-hearted Americans do on the Fourth of July. Have a great long weekend, all. I'm off for vacation and we're shutting the lights out for a couple of days. But Sy will be back to mind the store on Wednesday. Clifton Leaf, Editor in Chief, FORTUNE @CliftonLeaf clifton.leaf@fortune.com . DIGITAL HEALTH How do you solve a problem like NotPetya?  The bout of ransomware attacks that struck organizations ranging from shipping giants to U.S. drug maker Merck is now being dubbed "NotPetya," as a series of twists and turns have indicated that the source of the hits were different from what was originally suspected. But IT security firm Kapersky and others raise a troubling notion: this was never really ransomware at all, but rather a deliberate attempt to sow chaos and confusion. (Put another way: Some people just want to watch the world burn.) Seeing as health care firms are a regular target for attacks, this latest example just underscores the industry's need to ramp up protection against would-be criminals—or simple digital anarchists. The era of cyberbullying and its effects on mental health. Cyberbullying has become increasingly entrenched in global life. And that makes it a public health issue considering its widespread consequences, including depression, anxiety, anger, and even suicidal thoughts. Here's what the medical literature says about the effects of cyberbullying on adolescent and adult mental health alike. (Fortune) . INDICATIONS Sarepta gets (another) new CEO. Rare disease drug maker Sarepta has appointed its latest CEO, who will be taking the reins from current chief Ed Kaye. The latest head honcho will be Doug Ingram, a former exec over at drug giant Allergan. He certainly has his work cut out for him—Sarepta's milestone approval for a Duchenne muscular dystrophy drug has been facing backlash from insurers but has plenty of support from patient advocates. Whether or not it sells may depend on Ingram's ability to woo skeptical insurers and doctors since the product's label explicitly states that it doesn't have substantial proven efficacy. . THE BIG PICTURE The CBO released one more report card on the Senate's health care bill. After a fairly brutal assessment of what the Senate GOP's health care bill to repeal Obamacare would do to the insurance market, the Congressional Budget Office delivered another surprising analysis of the legislation on Thursday. This time, CBO gamed out how the bill would affect Medicaid over a longer timeframe (specifically, up to 2036). The findings are striking: a 35% cut to the safety net program for the poor compared to current law. (Fortune) Be careful over the 4th of July holiday. Just a friendly reminder that this is one of the most dangerous weekends for drunk driving fatalities, fireworks-related injuries, and other unfortunate (and potentially tragic) partying-related mishaps. Stay safe out there. We'll be back to you on Wednesday. . . REQUIRED READING This Is the Cryptocurrency Mark Cuban Is Backing, by Lucinda Shen Amazon to Expand In Boston's Tech Hub, by Barb Darrow Elon Musk Teases Tesla Model 3 Release Date, by Lucinda Shen President Trump to Senate GOP: Kill Obamacare Now, Replace Later, by Reuters Produced by Sy Mukherjee @the_sy_guy sayak.mukherjee@fortune.com Find past coverage. Sign up for other Fortune newsletters. . Email Clifton Leaf subscribe share: . This message has been sent to you because you are currently subscribed to Brainstorm Health Unsubscribe here Please read our Privacy Policy, or copy and paste this link into your browser: http://www.fortune.com/privacy All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website. For Further Communication, Please Contact: FORTUNE Customer Service 3000 University Center Drive Tampa, FL 33612-6408 Advertising Info | Subscribe to Fortune

Term Sheet: Jun. 30, 2017

FOLLOW subscribe ANON TIP June 30, 2017 ET CETERA New Money: Headspace, a Los Angeles-based maker of a meditation app, has raised $36.7 million in funding from Spectrum Equity. Headspace would not comment on its valuation but said it has increased from the reported $250 million valuation from its prior round. The funding comes a few months after Headspace co-founder Rob Pierson replaced Sean Brecker as CEO. Not long after taking the helm, Pierson laid off 13 staffers who were part of an in-house branding agency. He also hired Ross Hoffman, a former head of content partnerships at Twitter, as its chief business officer.   . .   Alongside the layoffs came accusations of "cultural woes," according to Fast Company, which Pierson says is a part of the company growing up. "We have a very idealist mission and it's very special and brings an incredibly passionate set of people to come work with us," he says. "At the same time, we're growing and we went from 15 people to 160 people in less than two years. We're growing up as a business and for some people, that's really different and some people don't like it. We're going from a startup to a real business with real revenue and real ambition." That ambition is big - thus the monster round of funding. Headspace has now raised a total of $73.7 million in funding and is cash flow positive, thanks to the annual $96 subscription fee paid by many of its users. More than 16 million people have downloaded its namesake app, though the company will not disclose how many are active users or subscribers. The company does not disclose its annual revenue but Pierson says it's above $10 million and "maybe" above $50 million. Headspace plans to continue capitalizing on the fact that it has convinced tens of thousands of users to actually pay for content - something the world's most sophisticated media companies struggle with. It will use the new capital to expand internationally, translating its app into more languages. Headspace also plans to sell expand into more types of content, including nutrition, exercise, science, and kids content. "I feel like we have cracked the hardest thing, which is that we've got people to pay for our content," Pierson says. "[Now] how can we support that and make it a more valuable subscription?" Lastly, Headspace plans to seek out more corporate partnerships. Human resources departments at large companies including Google, Genentech and LinkedIn have bought subscriptions to Headspace in bulk as a perk for their employees. Corporate mindfulness is a trend, but Headspace has not done much to capitalize on it until now. Currently, corporate accounts make up just 3% of the company's revenue, but Pierson thinks it can rise to 50% in the next few years. Why team up with a private equity firm for that? Pierson says Spectrum Equity has deep experience with three areas that are critical to its future success: subscription businesses, enterprise businesses, and international expansion. "I think they're real company builders," he says. "They think about long term. They're not swing for the fences at all costs." Those skills complement Headspace's the media-focused investor, Chernin Group. *** Decency: Apologies if it feels like I'm stuck on the Justin Caldbeck situation, but it's an important one. Yesterday Pando's Sarah Lacy issued a chilling warning to Lightspeed, and other firms that have turned a blind eye or enabled bad behavior. As a reminder: Ann Lai is the former Binary principle now suing the firm for harassing her after she resigned. The lawsuit describes the way Jonathan Teo and Justin Caldbeck threatened to ruin her career. Lacy writes: A firm many are watching now is Lightspeed Capital. Now that the truth has come out that they knew Justin Caldbeck was sexually harassing women, and used the unstated threat of thwarting future fundraising to silence her, while giving Caldbeck a positive reference to the LPs who would fund Binary. If the partners of Lightspeed have a soul, they must die inside reading Ann Lai's complaint. This firm didn't have to exist. We could have ended it. Lacy is correct: Sources tell Term Sheet that Lightspeed gave a Caldbeck a positive review to potential limited partners in Binary Capital. Limited partners aren't very press-friendly, so you won't see many of them tweeting about this situation. But behind the scenes, they're furious to be involved in this mess. It's worth noting that there are generally more women in the limited partners ranks than there are among general partners. (Some institutional investors even have diversity mandates.) Lightspeed did not respond to Term Sheet's request for comment. There are a lot of other people "open secrets" in startup-land. Some of them have been even been publicly reported on, causing momentary grief for the perpetrators, who hid for a few months and later emerged with new jobs. Others will come out in time. . . THE LATEST FROM FORTUNE... • Humans vs. Robots: How to thrive in an automated workplace • Trump fatigue? There's an app for that • When to buy bitcoin. …AND ELSEWHERE The satellites ushering in the space revolution. Bruce Berkowitz seeks a return to glory by betting on the value of Sears' parking lots. . VENTURE DEALS • Kakao Mobility, the South Korea-based ride-hailing service platform run by Kakao Corp, raised 500 billion KRW ($437 million) in funding from TPG. • Science Exchange, a Palo Alto, Calif.-based operator of a platform for scientific services, raised $28 million in Series C funding. Norwest Venture Partners led the round. Existing investors Union Square Ventures, Maverick Capital and Collaborative Fund participated. • Spruce Finance Inc, a San Francisco-based provider of consumer financing for residential energy efficiency and solar technology, raised $25 million in funding from HPS Investment Partners. • Vector, a Tucson, Ariz.-based micro-satellite launch company, raised $21 million in Series A funding. Sequoia Capital led the round, and was joined by Shasta Ventures and Lightspeed. • Lynq, a New York City-based location technology startup, raised $19 million in seed funding. Plus Eight Equity Partners led the round, and was joined by investors including ARC Angel Fund and Angel Investor Forum. • Bonfire, a Canada-based sourcing enablement software, raised $11 million in funding. Battery Ventures led the round, and was joined by investors including Crosslink Capital and Spider Capital. • Make.TV, a Seattle, Wash.-based cloud live video acquisition and management solution, raised $8.5 million round of funding. Voyager Capital led the round. Microsoft Ventures, Vulcan Capital and Arnold Ventures participated. • Harver, an Amsterdam-based HR tech company, raised $8.1 million in Series A funding. Insight Venture Partners led the round. • Work Truck Solutions, a Chico, Calif.-based provider of commercial truck inventory solutions, raised $5 million in funding. Autotech Ventures led the round, and was joined by investors including Belle Michigan, Wakestream Ventures, Moneta Ventures and Golden Seeds. • UpKeep, a Los Angeles-based provider of maintenance management solutions for facility maintenance teams, raised $2.7 million in seed funding. Investors include Battery Ventures and Bain Capital Partners. • AUrate, a New York-based jewelry startup, raised $2.62 million in funding. Investors include Arab Angel and Victress Capital. • Emocha, a Baltimore, Md.-based mobile health platform for patient engagement, raised $1 million in seed funding. Investors were Propel Baltimore Fund, Kapor Capital, Sand Hill Angels, Baltimore Angels, and Blue Jay Syndicate. • Terran Orbital, an Irvine, Calif.-based nanosatellite design, development, manufacturing, testing and launch company, raised funding of an undisclosed amount from Lockheed Martin Ventures. • ProSteel Security, a Provo, Utah-based maker of safety and security products, raised funding of an undisclosed amount. Investors include City Capital Ventures and Promus Equity Partners LLC. . HEALTH AND LIFE SCIENCES DEALS • LogicBio Therapeutics, a Foster City, Calif.-based gene therapy company, raised $45 million in Series B funding. Arix Bioscience led the round, and was joined by investors including OrbiMed, Edmond De Rothschild Investment Partners, Pontifax, SBI and OrbiMed Israel Partners. • Zai Lab Limited, a Shanghai-based biopharmaceutical company, raised $30 million in Series C funding. OrbiMed led the round, and was joined by Vivo Capital, Cormorant and Rock Springs Capital. . PRIVATE EQUITY DEALS • Monomoy Capital Partners agreed to acquire West Marine, a retailer of boating gear, apparel, footwear and other waterlife-related products, for $12.97 per share in cash. The deal is valued at $338 million. • Tikehau Captal acquired Credit.fr, a France-based crowdlending platform for small businesses, for 12 million euros ($13.4 million). • PNC Riverarch Capital acquired Painters Supply & Equipment Co, a Taylor, Mich.-based distributor of automotive, industrial, and architectural coatings. Financial terms weren't disclosed. • KKR will acquire a majority of Dixon Hospitality, an Australia-based hospitality group operator. Financial terms weren't disclosed. • Ardian made an investment of an undisclosed amount in Tolve Windfarm Holdings, an owner of three wind farms in Italy. Ardian will have an 80% stake in Tolve. • Marquis Software Solutions, a portfolio company of Falfurrias Capital Partners, acquired DocuMatix, a Draper, Utah-based provider of email marketing solutions used by credit unions and banks. Financial terms weren't disclosed. • Vista Equity Partners acquired a majority stake in PayLease, a San Diego, Calif.-based payments and billing provider for the property management and HOA industry. Financial terms weren't disclosed. • Alohma Holdings and Madvapes Holdings, which is backed by Meriturn Partners and Panorama Point Partners, merged to form AMV Holdings LLC, a vaping company. Financial terms weren't disclosed. • Jacuzzi Brands LLC, which is backed by Ares Management, Clearlake Capital Group and Apollo Global Management, acquired Hydropool, a Canada-based provider of hot tubs and swim spas, and BathWraps, a Roselle, Ill.-based maker acrylic wetspace walls, tubs and showers. Financial terms weren't disclosed. . OTHER DEALS • Knorr-Bremse, a Germany-based car parts maker, will continue its pursuit of Haldex (OM:HLDX), despite the Swedish company's management withdrawing its support for a takeover because of expected regulatory opposition to a deal, according to Reuters. Read more. • Enson acquired Inframon, a U.K.-based cloud transformation company. Financial terms weren't disclosed. . IPOs • Delivery Hero, a Berlin-based food delivery service, got a valuation exceeding $5 billion on the Frankfurt stock exchange, Bloomberg reported. The company went public at 25.50 euros a share. The company, backed by German company Rocket Internet , posed revenue of EUR 349 million($393 million) in 2016. Citigroup, Goldman Sachs, Morgan Stanley have been named joint global coordinators. UniCredit Bank, Berenberg, Jefferies, and UBS have been named as additional joint bookrunners. • Blue Apron, the New York City-based meal kit company, remained largely flat on its first day of trading, at $10 a piece. That gave the company a valuation of about $1.9 billion. Goldman Sachs, Morgan Stanley, Citigroup, and Barclays are lead underwriters in the deal. The company brought in $795.4 million in revenue in 2016, on losses of $54.9 million. Pre-IPO, Blue Apron is backed 23.8% by Bessemer Venture Partners, 10.5% by First Round Capital, and 6.5% by Stripes Group. The company plans to list on the NYSE under "APRN." Read more at Fortune. •  Cision, a cloud-based media software provider, announced that it plans to raise $325 million and become a public company via a merger with blank check company, Capitol Acquisition Corp. III. The company plans to go public on the NYSE under "CISN." • Clementia Pharmaceuticals, a Montreal, Canada-based clinical stage biopharmaceutical company focused on bone diseases, filed for an IPO to raise $115 million. The company plans to go public on the Nasdaq as "CMTA." Morgan Stanley, Leerink Partners are heading the underwriters. Clementia has yet to post a revenue. OrbiMed Private Investments(42.7% pre-offering), BDC Capital(22.9%), and New Enterprise Associates(8.1%) back the company. Exact terms of the deal have yet to be disclosed. • Byline Bancorp, a Chicago-based financial firm, said it offered 5.7 million shares at $19 a piece, on the low end of its $19 to $21 a share range. The company raised $108 million in the offering. The company had 57 bank branches and $2.2 million in loans and leases by the end of 2017's first quarter. Pre-offering, MBG Investors I holds nearly 47% of the bank, ECR Holdings with 8%, and Fambeck Servicios Financieros del Exterior with 7%. Bank of America and Keefe Bruyette and Woods are acting as joint bookrunners of the deal. •  Tintri, a Mountain View, Calif.-based company focused on virtual machine storage, said it raised $60 million in an offering of 8.7 million shares at $7, at the low end of its $7 to $8 range. Morgan Stanley and Bank of America are joint bookrunners in the deal. Pre-IPO, New Enterprise Associates owns 22.7% of the company, Lightspeed owns 14.5%, Insight Venture Partners owns 20%, and Silver Lake Kraftwerk owns 20.4%. The company booked revenue of $125.1 million for the year ending January 2017, and loss of $105.3 million. It plans to list on the Nasdaq as "TNTR." •  ShiftPixy, a Wyoming-based platform for restaurants to schedule shift workers, raised $12 million in an offer of 2 million shares at $6 a piece. That's at the low end of the company's $6 to $8 range. The company, backed by 1 Venture, will list on the Nasdaq as "Pixy." W.R. Hambrecht has been named underwriter in the deal. . EXITS • Roche bought mySugr, a Vienna-based diabetes management platform, according to Reuters. mySugr raised more than $6 million in venture funding from investors including iSeed Ventures, Roche Venture Fund, XLGroup and XLHealth. Financial terms weren't disclosed. Read more. • TIAA Private Investments and Antarctica Capital led a consortium to acquire InterPark, a Chicago-based parking facility operator. Financial terms weren't disclosed. The seller was Alinda Capital Partners. . FIRMS + FUNDS • Vitruvian Partners, a U.K.-based private equity firm, raised €2.4 billion ($2.74 billion) for its third fund, according to The Wall Street Journal. Read more (subscription required). • OrbiMed, a New York-based private equity and venture capital firm, raised $431.53 million for its third Asia fund, according to an SEC filing. The fund's target is $450 million. • EMH Partners, a Germany-based private equity and venture capital firm, raised €350 million ($400 million) for its debut fund. • Kairos Ventures, a Los Angeles-based venture capital firm, raised $74.7 million toward a $150 million venture fund, according to an SEC filing. • Growth Street Partners, a San Francisco-based venture capital firm, raised $70 million for its debut fund. . PEOPLE • Anisha Malhotra joined GPB Capital as a managing director and head of capital markets. Previously, Malhotra was at Goldman Sachs. • Tariq Rafique joined RKR Capital as a managing partner. Previously, Rafique was at Morningstar. . SHARE TODAY'S TERM SHEET View this email in your browser. Polina Marinova produces Term Sheet, and Lucinda Shen compiles the IPO news. Send deal announcements to Polina here and IPO news to Lucinda here. . EMAIL Erin Griffith subscribe share: . This message has been sent to you because you are currently subscribed to Term Sheet Unsubscribe here Please read our Privacy Policy, or copy and paste this link into your browser: http://www.fortune.com/privacy All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website. For Further Communication, Please Contact: FORTUNE Customer Service 3000 University Center Drive Tampa, FL 33612-6408 Advertising Info | Subscribe to Fortune