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iAngels 2017 May Deal Digest

Welcome to the iAngels monthly deal digest! This May we tracked 19 announced deals totaling $206M, alongside 6 acquisitions for a disclosed $217M. The leading sectors this month were the Medical tech with 5 startups raising $55M, and Cybersecurity with 4 startups raising $45.5M. Read on for the full scoop! Seed Rounds PureSec, a security solution for serverless architectures, […]

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Welcome to the iAngels monthly deal digest!

This May we tracked 19 announced deals totaling $206M, alongside 6 acquisitions for a disclosed $217M.

The leading sectors this month were the Medical tech with 5 startups raising $55M, and Cybersecurity with 4 startups raising $45.5M.

Read on for the full scoop!

Seed Rounds

  • PureSec, a security solution for serverless architectures, raised $3M round led by TLV Partners with participation from Entrée Capital.
  • VIZ.AI, an AI company optimizing emergency treatment raised $7.5M round led by DHVC and Innovation Endeavors with participation from AME Cloud Ventures.
  • MUGU, a company developing social music player, raised $1.125M round from privet investors.
  • Kanabo, a company developing Cannabis formulations for medical use, raised $500K round from private investors.

Series A Rounds

  • ProPrep (Easy Education) , an educational platform specializing in preparing for academic and matriculation exams, raised $1.68M round from private investors.
  • Scopio, a company developing advanced microscopes, raised $7M round led by Ourcrowd with participation from other investors.
  • BitDam, a company developing cyber protection from zero-day threats, raised $3M round led by Marius Nacht and Moshe Lichtman (IGP).
  • BiomX, a microbiome cancer treatment, raised $24M round led by OrbiMed, Johnson & Johnson Innovation, Takeda Ventures, and other investors.
  • Sweet Inn, a boutique short term accommodation, raised $22M round led by Qumra Capital with participation from BRM Group and other European investors.
  • Guesty, a management service for Airbnb property managers, raised $3M round from led by Buran VC with participation from Magma Venture Partners and AltaIR Capital.
  • Taranis, a weather intelligence system for farmers, raised $7.5M round led by Finistere Ventures and Vertex Ventures with participation from iAngels, and other investors.
  • Loom Systems, a provider of AI-powered log analysis software platform, raised $6M round led by JVP with participation from Meron Capital and 31Ventures.

Series B Rounds

  • Karamba, a cyber protection solution for the automotive industry, raised $12M round led by YL Ventures and Fontinalis Partners with participation from GlenRock Israel.
  • Twiggle, a company developing search and data driven technologies, raised $15M round led by MizMaa Ventures and Korea Investment Partners.
  • SoftWheel, a company developing In-Wheel Suspension System, raised $10M round from existing investors.
  • Next Insurance, a provider of digital insurance for small to medium businesses, raised $29M round led by Munich Re/HSB Ventures with participation from Markel and Nationwide.

Growth/Miscellaneous Rounds

  • Wandera, a company developing mobile data gateway, raised $27.5M round led by Sapphire Ventures with participation from  Bessemer Venture Partners and 83North.
  • Mintigo, a developer of a predictive platform for marketing & sales, raised $10M round led by Glilot Capital partners, with participation from Sequoia IL and other investors.
  • CartiHeal, a company developing new treatment for cartilage erosion, raised $18.3M led by aMoon, with participation from Elron Electronic , JJDC, and Peregrine Ventures.

M&A

  • Dimon, a tool for Bot monitoring, was acquired by JFrog, a developer of binary repository management system for an undisclosed sum
  • Hexadite, a developer of automated incident response Solution for cyber threats, was acquired by Microsoft for a reported $100M.
  • Plexistor, a data management company, was acquired by NetApp, a leading data service company for a reported $20M.
  • GeneSort, molecular diagnostics company, was acquired by AID Partners , an Hong Kong based investment fund for $23M.
  • Yokee, a developer of music apps, was acquired by Stingray, a Canadian B2B music provider for a reported $35M.
  • Medical Compression Systems (MSC), a developer of medical equipment for vascular and wound care, sold its assets for $4M, to an undisclosed acquirer.

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. 

Best,
Avi

Source: https://www.iangels.com/2017/06/iangels-2017-may-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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