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Deals of the day: AltSchool raises $33 million

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
March 18, 2014, 2:39 PM ET

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Venture Capital Deals

FunPlus, a Beijing-based mobile social games company, has raised $74 million in new VC funding fromOrchid Asia Group, GSR Ventures and Steamboat Ventures. www.funplus.com

AltSchool, a San Francisco-based network of micro-schools that emphasizes personalized learning for children in grades K-8, has raised $33 million in Series A funding. Founders Fund and Andreessen Horowitz co-led the round, and were joined by Learn Capital, Omidyar Network, John Doerr, Jonathan Sackler and return backers First Round Capital and Harrison Metal. www.altschool.com

Layer3 TV Inc.
, a Boston-based, has raised $21 million in a first close on its Series A round. NorthBridge Venture Partners and Evolution Media Growth co-led the round. The company is led by co-founer Jeff Binder, who previously led VC firm Genovation Capital and founded Broadbus Technologies (sold to Motorola in 2006 for $200 million). www.layer3tv.com

Ataxion Inc., a Cambridge, Mass.-based developer of therapies for rare neurologic diseases, has raised $17 million in Series A funding from Atlas Venture and Biogen Idec. In addition, Biogen Idec is providing non-dilutive R&D and other funding to Ataxion, plus has the option to acquire Ataxion at pre-negotiated terms.

Aquantia
, a Milpitas, Calif.-based provider of 10Gigabit Ethernet connectivity solutions for cloud computing and large-scale data center deployments, has raised $16 million in Series G funding. Xilinx Inc. (Nasdaq: XLNX) led the round, and was joined by unspecified existing investors. Past backers have included LSI Corp., New Enterprise Associates, Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures and Venture Tech Alliance. www.aquantia.com

VoltDB
, a Bedford, Mass.-based developer of a high-velocity database, has raised $8 million in Series B funding. New individual investors were joined by return backers Sigma Partners and Kepha Partners.www.voltdb.com

AbilTo Inc
., a New York-based provider of behavioral health programs to help adults overcome depression associated with major medical events, has raised $6 million in Series B funding, BlueCrossBlueShield Venture Partners and Sandbox Industries co-led the round, and were joined by return backer .406 Ventures. www.abilto.com

Teabox, a tea distribution startup with offices in Singapore and Bangalore, has raised $1 million in seed funding from Accel Partners India and Horizen Ventures. www.teabox.com

Private Equity Deals

Blackford Capital has acquired Grand Transformers Inc., a Grand Haven, Mich.-based maker of transformers and inductive components for the drives, elevator, power quality, instrumentation, energy and oil and gas industries. No financial terms were disclosed. www.gtipower.com

CVC Capital Partners has acquired a control stake in Da Niang Dumpling, a quick-service restaurant operator in China, from company founder Wu Guoqiang (who will remain a shareholder). No financial terms were disclosed. www.cnddr.com

GTCR has committed up to $300 million for the formation of Maravai Life Sciences Inc., a San Diego-based acquisition platform focused on companies and products in the diagnostics and life sciences industry. It will be led by Carl Hull, former CEO of molecular diagnostics company Gen-Probe. www.gtcr.com

KRG Capital Partners has acquired ICC-Nexergy Inc., a Westchester, Ill.–based provider of custom rechargeable power systems solutions, from Inverness Graham Investments. No financial terms were disclosed. www.iccnexergy.com

L Capital Asia has acquired a control stake Singapore-based nightclub operator Ku De Ta, for an undisclosed amount. www.lcapitalasia.com

Lariat Partners has completed its previously-announced $100 million acquisition of Newpark Environmental Services LLC from Newpark Resources Inc. (NYSE: NR), and simultaneous merger with existing Lariat portfolio company Offshore Cleaning Systems. The combined company will be rebranded EcoServ LLC, and will provide offshore cleaning services and offshore waste disposal in the Gulf of Mexico. www.lariatpartners.net

Synergy Environmental Corp., a portfolio company of Roark Capital Group, has acquired CJW, a Ewing, N.J.-based provider of waste and recycling services to the New Jersey and Pennsylvania markets. No financial terms were disclosed. www.centraljerseywaste.com

Tectum Holdings Inc., an Ann Arbor, Mich.-based portfolio company of Kinderhook Industries, has acquired Laurmark Enterprises Inc. (a.k.a. BAK Industries), a San Francisco-based maker of hard composite folding tonneaus. No financial terms were disclosed. www.bakindustries.com

Vestar Capital Partners has agreed to acquire proxy advisor Institutional Shareholder Services Inc. from MSCI Inc. (NYSE: MSCI), for $364 million in cash. www.issgovernance.com

IPOs

Agile Therapeutics Inc., a Princeton, N.J.-based developer of prescription contraceptive products, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol AGRX, with RBC Capital Markets and William Blair serving as lead underwriters. Shareholders include ProQuest Investments (30.4% pre-IPO stake), Care Capital (26.6%), Investor Growth Capital (26.6%) and Aisling Capital (8.9%). www.agiletherapeutics.com

Aldeyra Therapeutics, a Burlington, Mass.-based developer of therapies for rare eyes and skin diseases, has set its IPO terms to 2 million shares being offered at between $10 and $12 per share. Shareholders include Domain Associates (50.1% pre-IPO stake) and Johnson & Johnson Development Corp. (44.5%).

M&A

The Hertz Corp. (NYSE: HTZ) has agreed to spin off its equipment rental business into a separate, publicly-traded company. The tax-free spinoff is expected to be completed by early 2015, and would provide the remaining Hertz business with $2.5 billion in net proceeds. www.hertz.com

Dropbox has acquired Zulip, a Cambridge, Mass.-based maker of an enterprise chat solution. No financial terms were disclosed. Zulip had raised seed funding from individual angels like Paul English.www.dropbox.com

Liquidnet, a New York-based institutional trading network, has agreed to acquire Vega-Chi, an operator of electronic trading exchanges dedicated to high yield and convertible bonds. No financial terms were disclosed. Liquidnet backers include Maverick Capital, Technology Crossover Ventures and TH Lee Putnam Ventures. Vega-Chi had raised VC funding from Octopus Investments.www.liquidnet.com

Lotame, a Columbia, Md.-based data management platform, has acquired AdMobius, a San Mateo, Calif.–based mobile audience management platform. No financial terms were disclosed. Lotame recently raised $15 million in Series D funding, from Sozo Ventures, TrueBridge Capital Partners, Battery Ventures, Emergence Capital Partners and RJ Finlay & Co. AdMobius had been seeded by Opus Capital and Storm Ventures. www.lotame.com

Trustwave, a Chicago-based provider of on-demand data security and payment card industry compliance management solutions, has acquired Cenzic Inc., a Campbell, Calif.-based provider of app security testing technologies. No financial terms were disclosed. Trustwave shareholders include FTV Capital and First Analysis Funds, while Cenzic was backed by Advanced Technology Ventures, Hummer Winblad Venture Partners, JK&B Capital, MDV and Symantec Corp. www.trustwave.com

Veeva Systems (NYSE: VEEV), a Pleasanton, Calif.-based provider of cloud-based CRM and content management solutions for the life sciences industry, has filed for a $300 million secondary public offering of Class A common stock. Morgan Stanley, Deutsche Bank and J.P. Morgan are managing the process. Veeva shares closed trading yesterday at $33.10 per share, compared to their $20 per share IPO price last October. The entire offering will come from selling shareholders, although no specifics were provided. Significant holders include BlackRock, Emergence Capital Partners and T. Rowe Price.www.veeva.com

Yandex (Nasdaq: YNDX) has acquired KitLocate, an Israeli developer of location-aware apps. No financial terms were disclosed. KitLocate had raised VC funding from Entrée Capital.www.kitlocate.com

Specialty Waste Operating Partners has acquired Susquehanna Services Inc., a Swoyersville, Penn.-based provider of pugmill systems for drilling rig operators. No financial terms were disclosed.www.sspugmill.net

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