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FinanceTerm Sheet

Term Sheet — Thursday, July 16

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
July 16, 2015, 7:25 AM ET

Arghhhhhhh

Greetings from Aspen, where I was expecting a few hours to work on Term Sheet before hopping a plane back home. Instead, United canceled my flight due to 'weather' (it's lovely here, and the cancellation apparently occurred 9 hours before take-off). That means I only had time to do the news blurbs, and now must run off to the airport.

In short: Major apologies for making my problems your problems. And, if you feel so inclined, please go on Twitter to yell at @United for me. I'll have a bunch of scoop and other stuff to share with you tomorrow...

THE BIG DEAL

• eBay (Nasdaq: EBAY) has agreed to sell its enterprise unit to an investor group led by Permira for approximately $900 million, according to the WSJ. Read more.

VENTURE CAPITAL DEALS

• Immunocore, a UK-based developer of T-cell receptor-based biological drugs to treat cancer, has raised $320 million in VC funding. New backers include Woodford Investment Management, Malin Corporation plc, Eli Lilly and Company and RTW Investments. www.immunocore.com

• Flipagram, a Rolling Hills Estates, Calif.-based app that lets users create short video stories, has raised $70 million in Series B funding. Sequoia Capital led the round, and was joined by Kleiner Perkins Caufield & Byers and Index Ventures. Both Mike Moritz and John Doerr will join the board of directors. Read more.

• Upstart, a Palo Alto, Calif.-based online lending platform, has raised $35 million in Series C funding. Third Point Ventures led the round, and was joined by Khosla Ventures, First Round Capital, Collaborative Fund, Marc Benioff and Eric Schmidt. www.upstart.com

• VTS, a New York-based real-time asset management and leasing platform for commercial real estate, has raised $21 million in new funding from OpenView Venture Partners. www.vts.com

• Ampt LLC, a Fort Collins, Colo.-based provider of power conversion technology for solar power plant optimization, has raised $20 million in Series C funding (plus $5m in debt). Bohemian Investments led the round, and was joined by return backer Schatz Family Trust. www.ampt.com

• Zesty, a San Francisco-based office catering service that focuses on healthy food, has raised $17 million in Series A funding. Index Ventures led the round, and was joined by Founders Fund and Forerunner Ventures. www.zesty.com

• LeanKit, a Nashville, Tenn.-based lean-based project and work delivery platform for the enterprise, has raised $16 million in new VC funding from Insight Venture Partners. www.leankit.com

• StellaService, a New York-based provider of customer service ratings for online retailers, has raised $15 million in new VC funding. Comcast Ventures led the round, and was joined by fellow new investors Toba Capital and Novel TMT. Existing shareholders include Norwest Venture Partners, Battery Ventures, DFJ Gotham Ventures, RRE Ventures and Forerunner Ventures. www.stellaservice.com

• CircleBack, a Vienna, Va.-based contact management app, has raised $12 million in new VC funding. TDF Ventures led the round, and was joined by return backers Grotech Ventures, Syncom Venture Partners, and CNF Investments. www.circleback.com

• Room.me, a Germany-based roommate matching service that is soon launching in San Francisco, has raised $1.1 million in seed funding from Axel Springer Plug and Play, Grazia Equity Partners and an International Business Angel Pool. www.room.me

PRIVATE EQUITY DEALS

• Arlington Capital Partners has acquired Avalign Technologies Holdings Inc., a Lake Forest, Ill.-based manufacturer of implants and instruments for the orthopedic medical device and specialty surgical markets, from RoundTable Healthcare Partners. No financial terms were disclosed. www.avaligntech.com

• Bridgepoint has sponsored a management buyout of Appleby Fiduciary & Administration Business, a UK-based global trust, corporate and fund services group. No financial terms were disclosed. www.bridgepoint.eu

• Ethoca, a Toronto-based provider of, has secured a $45 million minority growth equity investment led by Spectrum Equity. www.ethoca.com

• Tender Greens, farm-to-fork fine-casual restaurant concept with 22 locations in California, has secured a minority growth equity investment from Alliance Consumer Growth and Union Square Hospitality Group. www.tendergreens.com

IPOs

• UTAC Holdings, a Singapore-based provider of assembly and test services for semiconductor chips, has filed for a $350 million IPO. It plans to trade on the Nasdaq under ticker symbol UTAC, with BofA Merrill Lynch, Citigroup and Credit Suisse serving as lead underwriters. It reports a $3.4 million after-tax loss in 2014 on around $860.3 million in revenue. Shareholders include TPG Capital and Affinity Equity Partners. www.utacgroup.com

EXITS

Apax Partners has hired J.P. Morgan and UBS to explore exit opportunities for Italian auto parts distributor Rhiag, according to Reuters. The company could be valued at upwards of $1.1 billion, and could pursue either a sale of public listing. Read more.

• BC Partners has completed its sale of half of its 80.5% stake in Turkish supermarket chain Migros to Anadolu Group at an enterprise value of around $2.7 billion. www.migroskurumsal.com

• Sun Capital Partners has sold Vari-Form Inc., a Troy, Mich.-based maker of lightweight, hydroformed structural parts, to Crowne Group LLC. No financial terms were disclosed. www.vari-form.com

OTHER DEALS

• CounterTack, a Waltham, Mass.-based provider of big data endpoint detection and response, has acquired ManTech Cyber Solutions International, a commercial software unit of ManTech International Corp. (Nasdaq: MANT). No financial terms were disclosed, except that ManTech International will become a shareholder in CounterTack. Previously, CounterTack had raised nearly $50 million in VC funding. www.countertack.com

• Match Group, a subsidiary of IAC (Nasdaq: IACI), has agreed to acquire Canadian online dating site PlentyOfFish for US$575 million in cash. www.pof.com

FIRMS & FUNDS

• No firm or fund news this morning.

MOVING IN, UP, ON & OUT

• Michael Avon has joined ABS Capital Partners as a venture partner. He previously was CFO and executive vice president of Millennial Media. www.abscapital.com

• Paul Cottey has joined Water Street Healthcare Partners as chief information officer. He previously was an executive partner with Accenture. www.waterstreet.com

• Jay Kidd has joined Wing Venture Partners as a partner of “market acceleration,” working to help portfolio companies identify and achieve product/market fit. He previously was chief technology officer of NetApp. www.wing.vc

• John Lane has joined PIMCO as executive VP and global chief finance officer. He previously was with Apollo Global Management as CFO of the private equity and real estate businesses. www.pimco.com

• Tim Wegener has joined private equity firm SunTx Capital Partners as a principal. He previously was managing director of private investments at Thrivent Financial. www.suntx.com

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By Dan Primack
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