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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

Deals of the day: High-frequency trader delays IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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April 18, 2014, 1:55 PM ET
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Venture Capital Deals

Beckon, a San Mateo, Calif.-based provider of enterprise SaaS for tracking and analyzing marketing spend, has raised $8 million in Series A funding from August Capital and Canaan Partners.www.beckon.com 

Provista Diagnostics Inc
., a Scottsdale, Ariz.-based maker of diagnostic and predictive tests for cancers affecting women, has raised $6 million in Series B funding. No investor information was disclosed. www.provistadx.com

Instacart, a San Francisco-based same-day grocery delivery startup, is raising a new round of funding that could value the company at upwards of $400 million, according to TechCrunch. The company previously raised around $11 million, from firms like Sequoia Capital, Canaan Partners, Khosla Ventures and SV Angel. The round’s lead may be  “no-VC investor.” www.instacart.com

Private Equity Deals

Blackcrane Capital LLC, a Bellevue, Wash.-based boutique asset manager investing primarily in
global equities, has secured an investment from Northern Lights Capital Group. No financial terms were disclosed. www.blackcranecap.com

Dubin Clark & Co.
 has sponsored a recapitalization of Johnny on the Spot LLC, an Old Bridge, N.J.-based provider of portable toilets and related products to the special event and construction industries. No financial terms were disclosed. www.johnnyonthespot.com 

Dynamic Healthcare Services Inc.
, a portfolio company of GMH Ventures and Lakewood Capital, has acquired RespaTech LLC, a Kenvil, N.J.-based home medical equipment company in the New Jersey market. No financial terms were disclosed. www.GMH-Ventures.com

Flywheel Sports
, a New York-based indoor cycling studio operator with 25 locations, has raised around $108 million in private equity funding, according to a regulatory filing. Benvolio Group (family office led by Coach Inc. executive chairman Lew Frankfort) led the round, and was joined by Catterton Partners. www.flywheelsports.com

GTCR is among the bidders for Procter & Gamble’s (NYSE: PG) healthcare concierge unit, which could be valued at around $350 million, according to LBO Wire. www.gtcr.com

Succession Capital, a subsidiary of Lynx Equity, has acquired Floor Solutions LLC, a Portland, Ore.-based commercial floor distributor. No financial terms were disclosed. www.floorsol.com

IPOs

Virtu Financial Inc., a New York-based high-speed trading company partially owned by Silver Lake, has postponed its planned $100 million IPO, largely due to continued fallout from Michael Lewis’ Flash Boys book. The company also has received a letter of inquiry from N.Y. Attorney General Eric Schneiderman, who is investigating the HFT industry. Virtu still (at some point) plans to trade on the Nasdaq under ticker symbol VIRT, with Goldman Sachs, J.P. Morgan and Sandler O’Neill serving as lead underwriters. The company reports $182 million in net income on $665 million in revenue for 2013, compared to an $88 million net income on $616 million in revenue for 2012. www.virtu.com

Mapi-Pharma Ltd., an Israeli developer of generic drugs for multiple sclerosis and neuropathic pain, has set its IPO terms to around 2.86 million shares being offered at between $13 and $15 per share. It would have an initial market cap of around $215 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol MAPI, with Aegis Capital Corp. serving as sole underwriter. www.mapi-pharma.com

Taggares Agriculture Corp., a Kennewick, Wash.-based acquirer and operator of farmland in the Pacific Northwest, has filed for a $48.3 million IPO. It plans to trade on the Nasdaq under ticker symbol TAG, with Janney Montgomery Scott and ROTH Capital Partners serving as lead underwriters.www.taggaresag.com

Tecogen, a Waltham, Mass.-based maker of combined heat and power products, has set its IPO terms to 2 million shares being offered at between $4.75 and $5.75 per share. It plans to trade on the Nasdaq under ticker symbol TGEN, with Scarsdale Equities serving as sole underwriter. The company had withdrawn a prior IPO registration last October. www.tecogen.com

M&A

VimpelCom Ltd. (Nasdaq: VIP) has agreed to sell a majority stake in its Algerian unit (Djezzy) to the Algerian government for $2.64 billion. www.vimpelcom.com

QuickPay Corp., a San Francisco-based provider of parking and transportation technology solutions, has acquired Nautical Technologies, the parking, transit and tolling technology unit of ANAi Global. No financial terms were disclosed. QucikPay backers include A16Z Seed, Advanced Technology Ventures, Ecomobilite Ventures, IncWell and Fontinalis Partners. www.qpme.com

Dropbox has acquired two startups: Loom, a cloud photo storage and sync service, and Hackpad, a mobile and web app for document collaboration. No financial terms were disclosed for either deal. Both companies are YC alumni, while Loom also raised a small amount of seed funding from such firms as Google Ventures, Great Oaks Venture Capital and Tencent. www.dropbox.com

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