• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

2

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly

3

After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history

1

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

2

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly

3

After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
FinanceTerm Sheet

Term Sheet — Monday, March 20

By
Erin Griffith
Erin Griffith
Down Arrow Button Icon
By
Erin Griffith
Erin Griffith
Down Arrow Button Icon
March 20, 2017, 9:27 AM ET
fortune logo
fortune logo
Add Fortune on Google for similar content.

BACK + THANKS

Good morning! It's me, your regular host, back from vacation. I actually succeeded in unplugging so this morning'a agenda is catching up on three weeks worth of news (Snap IPO! Greyball! Trump tax plan!) and wading through approximately 73482457018349028341903275679432 emails.

If you want to make my morning o' inbox arbitrage a little more fun, I welcome all tips, scoops and gossip. (Reminder: You can send Term Sheet an anonymous tip right here.)

I'd like to extend a huge thank you to Laura Entis, who puts together the deal listings every day and managed everything seamlessly while I was gone, as well as my editor Andrew Nusca, and our excellent guest columnists. Here they are again, with links to their Twitter profiles so you can follow:

Beezer Clarkson and Nino Marakovic on exits, John Kell on big food M&A, Jen Wieczner on the Snap IPO, Mark Suster on the state of VC investing, Stephen Gandel on Trump and private equity, Robert Hackett on cybersecurity and the Flaming Lips, Michal Lev-Ram on the death of Twitter, Matt Heimer on cosmetics and beer M&A, and Leigh Gallagher on Airbnb.

Also, good news if you missed any of these: Our tech team has spruced up Term Sheet's online archives, making them significantly easier to read. Find them here.

I'll be back with news and commentary tomorrow. Onto the links and deals!

THE LATEST FROM FORTUNE...

• Uber loses its President after six months. Uber pushing for arbitration in Waymo lawsuit.

• Martin Shkreli musical.

• Airbnb wants to revolutionize flying.

• LeEco is trying to sell land in Silicon Valley.

• Trump wants to revitalize infrastructure; his budget could make it worse.

• Snap shares fall below $20.

...AND ELSEWHERE

Private equity wins, even if it loses. A trinity of predicaments for private equity in India. The rise of the optimized cabin. A profile on Bill Gurley amid the Uber chaos. Taking on Alibaba's fakes.

VENTURE DEALS

• KNIME, a Swiss data science company, raised €20 million ($21.5 million) in funding from INVUS, according to Tech.eu. Read more.

• Akeneo, a French provider of of open-source product information management software, raised $13 million in funding from Partech Ventures and Alven Capital.

• Nested, a London platform for homeowners that guarantees to sell a house within 90 days, raised £8 million ($9.9 million) in funding, according to TechCrunch. Passion Capital led the round, and was joined by Balderton Capital, and GFC. Read more.

• FarmLead, a Chicago online grain marketplace, raised $6.5 million in Series A funding. Monsanto Growth Ventures led the round, and was joined by Avrio Ventures, the MaRS Innovation Accelerator Fund, and Serra Ventures.

• Piwik PRO, a Polish open-source analytics platform, raised $2 million in Series A funding. Warsaw Equity Group led the round. [This item has been updated to include the correct link.]

• ShadeCraft, a Pasadena, Calif. robotics startup, raised $2 million in seed funding.

HEALTH + LIFE SCIENCES DEALS

• MedLumics, a Madrid-based cardiac device company, raised €34.4 million ($37 million) in Series B funding. Edmond de Rothschild Investment Partners led the round, and was joined by Seroba Life Sciences, Innogest Capital, Ysios Capital Partners, and Caixa Capital Risc.

• Advicenne, a late-stage biopharmaceutical company, raised €16 million ($17.2 million) in funding. Investors include IRDI SORIDEC Gestion, Cemag Invest, MI Care, InnoBio, and IXO Private Equity.

• Aetion, a New York City healthcare technology company, raised $11.2 million in Series A funding. Flare Capital Partners led the round, and was joined by Lakestar.

PRIVATE EQUITY DEALS

• Hansteen Holdings (LSE:HSTN) agreed to sell its German and Dutch property portfolios to the Blackstone Group (NYSE:BX) and M7 Real Estate for €1.28 billion ($1.38 billion). Read more.

• Unilever (LSE:ULVR) is getting ready to sell some of its food brands, including its “spreads” business, in a deal valued at £6 billion ($7.4 billion), according to the Sunday Times. Bain Capital, CVC, and Clayton, Dubilier & Rice were listed as potential bidders. Read more.

• Cision, a Chicago-based public relations software provider backed by GTCR, has agreed to combine with Capitol Acquisition Corp. III, a blank check company. After the merger, Cision will become a publicly traded company with an expected enterprise value of about $2.4 billion. [Update: A previous version of this item misidentified it as an exit for GTCR. The private equity firm will retain 100% of its equity stake in Cision post-merger.]

OTHER DEALS

• Vodafone Group (LSE:VOD) and Idea Cellular (NSEI:IDEA) agreed to merge their Indian operations in a deal valued at $23 billion, according to Reuters. Read more.

IPOS

• ProPetro Holding, a Midland, Texas-based oilfield services company backed by Energy Capital Partners, raised $350 million in an IPO by offering 25 million shares at $14 per share, below its expected range of $16 to $19.

• Netmarble Games, a Seoul, South Korea-based mobile game company backed by Tencent (SEHK:700), said it plans to raise up to ₩2.66 trillion ($2.35 billion) in an initial public offering. Read more.

• TPG founding partner David Bonderman has scrapped plans to take the private equity firm public, according to the New York Post. Read more.

EXITS

• Renovo Capital sold Andronico’s Community Markets, an Emeryville, Calif.-based operator of specialty grocery stores, to Safeway Inc. Financial terms weren’t disclosed.

FIRMS + FUNDS

• Apollo Global Management (NYSE:APO) is seeking to raise $20 billion for a new private-equity fund, according to the Wall Street Journal.

PEOPLE

• Maria Karaivanova and Alice Ryder have joined Madrona Venture Group as a principal and the director of investor relations and business development, respectively. Karaivanova previously worked at Cloudflare, while Ryder was most recently vice president of investor relations at King Digital.

• Steve Hunter has joined Croft & Bender as a managing director.

• Justin Wexler has joined WndrCo as an investor. Previously he was an investor at Technology Crossover Ventures.

SHARE TODAY'S TERM SHEET

Term Sheet is produced by Laura Entis. Submit deal items here. View this email in your browser.

About the Author
By Erin Griffith
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

ibm
Big TechIBM
‘We did not adapt and move quickly enough’: IBM CEO’s admission of weakness fails to prevent historic 25% stock crash
By Tatiana SatauaJuly 15, 2026
7 hours ago
usa
AIearnings
Why IBM just suffered its worst stock crash of all time—and what it says about the market’s two bubbles
By Nick LichtenbergJuly 15, 2026
8 hours ago
mike
Politicsnational debt
GOP’s $95 billion war-and-voting bill adds no offsets to $2 trillion deficit
By Kevin Freking, Lisa Mascaro and The Associated PressJuly 15, 2026
8 hours ago
warren
North Americaphilanthropy
Warren Buffett on Bill Gates’ ‘distasteful’ friendship with Jeffrey Epstein: ‘No one bats a thousand in the business of choosing people’
By Josh Funk and The Associated PressJuly 15, 2026
9 hours ago
It’s now cheaper to buy a new home than a used one, thanks to builder incentives and baby boomers who don’t want to sell on the low
Real Estatehomebuying
It’s now cheaper to buy a new home than a used one, thanks to builder incentives and baby boomers who don’t want to sell on the low
By Catherina GioinoJuly 15, 2026
11 hours ago
nyc
North AmericaEconomics
Mamdani’s $50 World Cup jersey stunt proves some of the oldest criticisms of socialism correct: ‘The odds are extremely stacked against you’
By Nick LichtenbergJuly 15, 2026
12 hours ago

Most Popular

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
Law
26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
By Barbara Ortutay, Alexandra Olson and The Associated PressJuly 15, 2026
15 hours ago
MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
Newsletters
MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
By Sydney LakeJuly 14, 2026
1 day ago
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
North America
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
By Marco Quiroz-GutierrezJuly 14, 2026
1 day ago
Jamie Dimon understands why people are anti-rich: 'We have, in fact, left the lower-income folks behind' and 'that's kind of annoying'
Economy
Jamie Dimon understands why people are anti-rich: 'We have, in fact, left the lower-income folks behind' and 'that's kind of annoying'
By Eleanor PringleJuly 15, 2026
17 hours ago
He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis
Innovation
He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis
By Lily Mae LazarusJuly 15, 2026
16 hours ago
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
13 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.