VENTURE DEALS
- Built In Inc, a Chicago-based tech hub, raised $22 million in Series C funding. Updata Partners led the round, and was joined by investors including MATH Venture Partners.
- Yoti, a London-based digital identity startup, raised 8 million pounds ($9.7 million) in funding. The investors were not named.
- NextStep Interactive, a Seattle and Bozeman, Montana-based startup that aims to help displaced workers retrain for health care careers, raised $3 million in funding. Investors include SEI Ventures, JAZZ Venture Partners, Learn Capital, Springrock Ventures, City Light Capital and Frontier Angels. NextStep is a spinout of Pioneer Square Labs.
- Dumpling, a Berkeley, Calif.-based company that helps gig workers run their own franchises, raised $3 million in funding. Investors include Floodgate and FUEL Capital.
- ePayRails, a Jacksonville, Fla.-based fintech payment service as a provider, raised $2.45 million in Series A funding. Aspire Fund Management led the round.
- Sheets & Giggles, a Denver-based bedding brand, raised $1.3 million in seed funding. Rockies Venture Club led the round.
PRIVATE EQUITY DEALS
- Guidehouse, a portfolio company of Veritas Capital, agreed to acquire Navigant Consulting Inc (NYSE:NCI), for approximately $1.1 billion.
- Surge Private Equity made an investment in Hippodrome Services Group, a New York City-based provider of outsourced laundry and dry-cleaning services. Financial terms weren't disclosed.
- Restoration + Recovery, which is backed by DFW Capital, acquired the assets of DGC Environmental Services Inc, a Fort Pierce, Fla.-based provider of stormwater services. Financial terms weren't disclosed.
- Linden Capital Partners acquired Collagen Matrix Inc, an Oakland, N.J.-based maker of collagen-based medical products used for tissue and bone repair and regeneration across orthopedic, sports medicine, dental, and neurosurgery end markets. Financial terms weren't disclosed.
- Apax Partners agreed to acquire a majority stake in ADCO Group, a Germany-based company focused on portable sanitary solutions. Financial terms weren't disclosed.
- Mill Rock Capital Management LP made an investment in Venture Metals, LLC and SI Metallics, LLC. Venture Metals has also acquired Versatile Processing Group, Inc, Indianapolis, Ind.-based provider of transformer recycling, repair, and disposal services. Financial terms weren't disclosed.
- Shermco Industries, Inc, which is backed by Gryphon Investors, acquired Southwest Energy Systems, a Phoenix, Ariz.-based provider of third-party electrical testing and engineering services for commercial electrical systems. Financial terms weren't disclosed.
- Sample Preparation Technologies, a portfolio company of Battery Ventures, agreed to acquire Quantifoil Micro Tools GmbH, a Germany-based manufacturer of specialty support foils for electron-microscopy applications.
IPOs
- CrossFirst Bankshares, a Leawood, Kansas-based bank with seven locations, plans to raise $116 million in an IPO of 7.1 million shares (24% insider sold) priced between $15 to $17. The firm posted interest income of about $156.9 million and net income of $17.5 million in 2018. First Security Bancorp backs the firm. It plans to list on the Nasdaq as "CFB." Read more.
- Endeavor Group, the company behind Hollywood's largest talent agency, plans to delay its IPO until September at the earliest, the Wall Street Journal reports, citing sources. Endeavor is reportedly close to acquiring On Location Experiences, a live-experiences company, for as much as $700 million. Read more.
EXITS
- Reliance Industries will acquire an 87.6% stake in Fynd, a Mumbai-based startup that connects brick and mortar retailers with online stores and consumers, for 2.95 billion Indian rupees ($42.33 million). Fynd had raised approximately $7.3 million in venture funding from investors including Google, IIFL, Venture Catalysts, Axis Capital Partners, Singularity Ventures, and Kae Capital.
- Genstar Capital will acquire a majority stake in OEConnection, a Richfield, Ohio-based automotive technology provider for OEM distribution networks, from Providence Equity Partners.
- Eurazeo acquired Elemica, a Wayne, Penn.-based digital supply network. Financial terms weren't disclosed. Sellers include Thoma Bravo.
- Wind Point Partners sold Evans Food Group, a Chicago-based producer of branded and private label pork rinds, to Highlander Partners.
FIRMS + FUNDS
- Nyca Partners, a New York-based venture capital firm, raised $210 million for its third fund.
PEOPLE
- Greylock Partners named Saam Motamedi a general partner.
- Sumeru Equity Partners promoted Vinay Kumar to vice president and Jack McCabe to senior associate. Sumeru also hired Jialin Zhang and Jamol Williams as associates.
- Sorenson Ventures named Chris Downer as a principal.
- Brian Strachan left his role as growth equity investor at Providence Equity Partners.
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