Greetings from San Francisco, where I need to catch a very early flight back to Boston. That means I only had time this morning to put together the news blurbs, so apologies for the lack of column. Back to our regularly-scheduled ramblings tomorrow morning…
THE BIG DEAL
• WeWork, a New York-based startup that leases out offices and other co-working spaces, has raised $430 million in Series F funding co-led by Hony Capital and Legend Holdings. Existing investors also participated in the round, which came with a pre-money valuation of around $16 billion (up from $10b last summer). The round remains open, as WeWork authorized the sale of up to $780 million in funding, according to a Delaware filing. www.wework.com
VENTURE CAPITAL DEALS
• 4Tech Inc., an Ireland-based developer of a transcatheter treatment for tricuspid regurgitation, has raised $29 million in Series B funding. Valiance and RMM co-led the round, and were joined by NeoMed Management. www.4techtricuspid.com
• Resolver Inc., a Toronto-based provider of risk and incident management software, has raised C$4 million in new funding from existing backer Klass Capital. www.resolver.com
• Constant Therapy, a Boston-based provider of customized brain rehabilitation apps, has raised $2 million in Series A funding. Golden Seeds led the round, and was joined by Kapor Capital, Launchpad Venture Group, Pond Capital and Community Health Network of Connecticut. www.constanttherapy.com
• Instacart, a San Francisco-based on-demand grocery delivery service, has raised an undisclosed amount of equity funding from Whole Foods (Nasdaq: WFM), as part of a broader strategic partnership. The company previously raised around $275 million from firms like Sequoia Capital and Andreessen Horowitz. www.instacart.com
PRIVATE EQUITY DEALS
• Accella Performance Materials, a Maryland Heights, Mo.-based maker of manufacturer of polyurethanes and recycled rubber, has acquired Quadrant Spray Foam, a McKinney, Texas-based maker of spray foams for insulation. No financial terms were disclosed. Accella is a portfolio company of Arsenal Capital Partners. www.accellacorp.com
• Arch Global Precision LLC, a Livonia, Mich.-based portfolio company backed by Strength Capital Partners, has acquired Advanced Precision Inc., a Sparta, N.J.-based maker of precision machined components and industrial cutting tools and instrumentts. No financial terms were disclosed www.advancedprecision.com
• Big 3 Precision Products Inc., a Centralia, Ill.-based portfolio company of TVV Capital, has acquired Sur-Foam Corp., a Chesterfield, Mich.-based provider of material handling solutions. No financial terms were disclosed. www.big3precision.com
• Pacific Market International LLC, a Seattle-based maker and marketer of food and beverage container solutions, has raised an undisclosed amount of funding from Endeavour Capital. Proceeds were used to acquire Formation Brands LLC, a South San Francisco-based maker of houseware products and accessories. www.endeavourcapital.com
• Weld North Holdings LLC, an education industry investment firm backed by KKR, has acquired Performance Matters, a Winter Park, Fla.-based provider of student assessment systems and analytics. No financial terms were disclosed. Performance Matters will be merged with existing Weld North portfolio company Truenorthlogic. www.performancematters.com
• No IPO news this morning.
• CVC Capital Partners has hired Rothschild to find a buyer for Dutch HR software and services provider Raet, according to Reuters. The deal could be worth upwards of $620 million. Read more.
• Alibaba Group (NYSE: BABA) has secured a five-year, $3 billion loan with eight lead arrangers. Read more.
• Burberry (LSE: BRBY) shares are sinking on new reports that an unidentified investor did not acquire a 5% stake in the British fashion retailer, despite an earlier FT story that such a thing had happened. Read more.
• Facebook (Nasdaq: FB) has acquired video image filtering app Masquerade for an undisclosed amount. Read more.
• Inrix, a Kirkland, Wash.-based provider of real-time traffic information technology, has acquired OpenCar, a Seattle-based maker of an in-car app platform. No financial terms were disclosed. Inrix has raised around $78 million in VC funding from August Capital, Bain Capital Ventures, Kleiner Perkins and Venrock. Read more.
• Justin Cameron has stepped down from his executive and board roles with Surfstitch Group Ltd. (ASX: SRF), an Australian online clothing retailer he founded in 2008, in order to pursue a take-private buyout of the company. Read more.
• Nasdaq has agreed to acquire the International Securities Exchange, a New York-based operator of stock options markets, from Germany’s Deutsche Börse for $1.1 billion. Read more.
• PledgeMusic, a London-based direct-to-fan e-commerce platform, has agreed to acquire both NoiseTrade (free music data exchange) and Set.fm (live performance recording capture and sales platform). No financial terms were disclosed. www.pledgemusic.com
• Tableau Software (NYSE: DATA) has acquired HyPer, a German developer of advanced database technology. No financial terms were disclosed. Read more.
FIRMS & FUNDS
• Oak Hill Advisors is targeting $2 billion for a new distressed debt fund, according to Bloomberg. Read more.
MOVING IN, ON & UP
• Mizuho Securities USA has named Jerry Rizzieri as president and CEO. He previously served as executive managing director and head of fixed income. Previous president and CEO John Koudounis is leaving “to pursue an opportunity which has not yet been publicly announced with an asset management company.” www.mizuhosecurities.com
• Sonos, a Santa Barbara, Calif.-based maker of wireless multi-room music systems, said in a blog post that it would lay off an undisclosed number of employees, and that it would continue to “lean into” new efforts around paid streaming services and voice control. Sonos has raised over $90 million in equity funding from firms like Index Ventures and KKR.
• Patrick Sturgeon has joined Brookline Capital Partners as a managing director. He previously was a managing director with Axiom Capital Management. www.brooklinecap.com
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