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iAngels 2017 January Deal Digest

Welcome back to the iAngels monthly deal digest! This January we tracked 19 announced deals totaling $356m, alongside 10 acquisitions for a disclosed $1.1b. The surge in growth financing continued as we witnessed a newly minted unicorn in Kaminario, while in parallel Kik acquired Rounds and established a new R&D center in Israel. Read on for the full scoop! Seed […]

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Welcome back to the iAngels monthly deal digest! This January we tracked 19 announced deals totaling $356m, alongside 10 acquisitions for a disclosed $1.1b.

The surge in growth financing continued as we witnessed a newly minted unicorn in Kaminario, while in parallel Kik acquired Rounds and established a new R&D center in Israel.

Read on for the full scoop!

Seed Rounds

  • Flytrex, a developer of end-to-end drone delivery solutions, raised $3m led by Armada VC with participation from Joey Low, and Daniel Gutenberg.
  • Sigma Accolade, a verified online achievement platform, raised $4.35m in a party-round led by Andreessen Horowitz and 10 other investors.
  • Gradtrain, a platform using big data analytics to predict the success rates of college applications, raised $500,000 from private investors.

Series A Rounds

  • Pagaya, an algorithmic asset manager focused on managing marketplace lending investments, raised $2m from Carmel Ventures.
  • Secret Double Octopusa network traffic protection solution, raised $6m from JVP, Liberty Media, Iris Capital, Benhamou Global Ventures, and Yaniv Tal.
  • Fraugster, an anti-fraud security system powered by AI, raised $5m led by Earlybird, Speedinvest, and Seedcamp.
  • ARTSaVIT, a cancer treatment drug development company, raised $6.3m led by Arkin Bio Ventures with Pontixfax Fund and Merck Ventures.
  • Inovytec, a developer of non-invasive critical care medical devices, raised $3m from Vincent Medical to extend its A round.

Series B Rounds

  • VisIC technologies, a developer of transistors for OEMs manufacturing electric motor drivers and power suppliers, raised $11.6m from Birch investment and existing investors.
  • Tracx, a social media management suite, raised $12.5m led by Camden Partners with participation by Edison Partners and Tracx CEO Rick Rudman.
  • HealthWatch, a developer of digital textile garments that monitor biometrics, raised $20m from Yiling, a Chinese medical company.

Growth/Miscellaneous Rounds

  • Feedvisora provider of algo-commerce solutions to online retailers, raised $20m led by General Catalyst with participation from existing investors.
  • Corephotonicsa developer of camera imaging technologies for phones, raised $15m led by Samsung Ventures, Foxconn, and Mediatek as well as existing investors.
  • Appsflyer, a global leader in mobile advertising attribution and market data analyticsraised $56m led by Qumra Capital with participation from Goldman Sachs, Magma, Pitango, and Deutsche Telekom.
  • Transmit Security, a mobile security software solution, emerged from stealth to announce $40m from Michael Boodaei, Rakensh Loonkar, and private investors.
  • Sentinel Onean endpoint security software aiming to replace traditional antivirus vendors, raised a $70m round led by Redpoint Ventures alongside Sound Ventures and existing investors.
  • Kaminario, an all-flash storage company redefining modern data centers, raised $75m led by Waterwood group and joined by Sequoia, Pitango, Lazarus, Silicon Valley Bank, and Globespan Capital Partners.

M&A

  • Mentad, a predictive marketing technology for online retailers, was acquired by Socialcode, a social advertising insights company , for an undisclosed sum.
  • Tyrnovo, a cancer drug development company, was acquired Kitov, a publicly traded biopharmaceutical company for $3.8m.
  • Abbi, an in-app marketing solution for mobile publishers, was acquired by Israeli start-up WalkMe, an enterprise user experience solution, for $2m.
  • SimpliVity, a virtualization solution for IT departments, was acquired by Hewlett Packard’s Enterprise division, HPE, for $650m.
  • Flok, a customer rewards platform,  a provider of data center infrastructure management tools, was acquired by Wix, a leading cloud-based web development platform, for an undisclosed sum.
  • Valtecha medical device company focused on cardiac complications, was acquired by Edwards Lifesciences, the world leader in artificial heart valves, for $340m. This deal was announced in November, but resurfaced in January.
  • Lithotech, a world leader in the production and development of invasive devices, was acquired by Vention Medical, a medical device manufacturing company, for $2.6m.
  • Rounds, an instant group video chat app, was acquired by Kik, a global messaging application, for $70m. Kik will open up an R&D center in Israel.

On behalf of everyone at iAngels, I’d like to thank you for tuning into our deal digest.  

If you’d like to receive our monthly digest in your inbox, please subscribe below. 

Love,
Max

Max Marine
Max Marine is an iAngels Investment Analyst. Prior to iAngels, Max was a Junior Partner at Venture1st, providing marketing and communications support to Israeli start-ups. Max passed the three CFA exams consecutively, holds an MS in Investment Management, and a B.B.A. in Finance, Real Estate, and Risk Management and Insurance from Temple University’s Fox School of Business. Contact him at [email protected]

[/av_textblock] Source: https://www.iangels.com/2017/01/iangels-2017-january-deal-digest/

Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Private Equity

Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election.

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Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

https://platodata.net/wp-content/uploads/2020/10/alternative-investments-real-estate-housing-market-demand-is-insane.jpg

Redfin CEO Glenn Kelman says the boom could last into next year.

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election. (CNBC)

Kelman: Too good to last forever

“This level of demand is absolutely insane. I would expect it to last into 2021, at least,” Kelman said.

Recent data from the National Association of Realtors shows up the strength in the housing market.

Existing home sales shot up 9.4% in September beating expectations. Even though the median purchase price of a home rose approximately 15% year over year, there is just a 2.7-month supply of for-sale homes, showing tight market inventory conditions.

The 30-year fixed-rate mortgage averaged 2.80% for the week ending Oct. 22, down from 2.81% in the previous week and 3.75% a year ago, according to the Freddie Mac Primary Mortgage Market Survey. Therefore, mortgage rates crept even lower in the latest week.

However, “there’s no way it can last forever,” Kelman warned of the bullish conditions.

Canada: Off the charts

Meanwhile, at the northern neighbor, home sales activity in September is described as “off-the-charts.”

Housing data released by the Canadian Real Estate Association (CREA) last week showed a nationwide year-over-year increase in sales of 45.6%.

This was a new all-time monthly record for the third month in a row.

“This is starting to sound like a broken record (about records being broken), but Canadian home sales and prices set records once again in September … as they did in July and August,” said Shaun Cathcart, senior economist at CREA, in a statement.

Real Estate ETFs in the U.S.

The year-to-date performance of some real estate ETFs is shown below:

iShares U.S. Home Construction ETF (ITB)              +24.61%

SPDR S&P Homebuilders ETF (XHB)                          +20.83%

Vanguard Real Estate Index Fund ETF                      -13.91%

It may be noted that despite the boom conditions in housing, real estate ETFs and stocks have declined in recent days.

According to Barron’s, this may be due to yields on the 10-year and 30-year Treasuries moving higher in recent weeks.

Other reasons could be fears of inflation ticking up in the future amidst an improving economic situation.

Nevertheless, the view is that interest rates are likely to remain low for longer. So demand may remain strong.

“Part of what is fueling this boom is that the economy has just split into two and rich people are able to access capital almost for free, so, of course, they’re going to use that money to buy homes,” said Redfin’s Kelman.

Related Story:   Mortgage Rates Set Another Record Low; Real Estate ETFs Could Benefit

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Source: https://dailyalts.com/alternative-investments-real-estate-housing-market-demand-is-insane/

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Private Equity

Asda’s new owner EG Group seeks new leadership ahead of IPO – report

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month

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UK grocer Asda Group’s new owner EG Group is looking for a new chairman and independent directors as it prepares for a £10bn initial public offering, The Timesreports.

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month.

The move comes after Deloitte resigned last week as the company’s auditor because of concerns over the group’s governance and lack of internal controls, according to the publication.

A decision on candidates will be taken before the end of this year, although roles haven’t been finalised yet as the company is in the process of deciding whether to float in the UK or the US, The Times reports.

Write to Barcelona editors at barcelonaeditors@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/asdas-new-owner-eg-group-seeks-new-leadership-ahead-of-ipo-reports-20201023

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