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

Trendingnow

1

Social Security unraveling: 7,100 workers sacked, performance metrics retired, disability claims falling

2

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

3

'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt

1

Social Security unraveling: 7,100 workers sacked, performance metrics retired, disability claims falling

2

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

3

'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
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

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

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

paceX and Tesla founder Elon Musk speaks during an America PAC town hall on October 26, 2024 in Lancaster, Pennsylvania.
HealthSpaceX
SpaceX reveals its share price and record valuation: 555.6 million shares at $135 apiece, at a $1.77 trillion valuation
By Eva RoytburgJune 3, 2026
58 minutes ago
Live updates from the NYC bar that promised to cover everyone’s tabs if the Knicks won, and used Kalshi to hedge their bets
InvestingSports
Live updates from the NYC bar that promised to cover everyone’s tabs if the Knicks won, and used Kalshi to hedge their bets
By Catherina GioinoJune 3, 2026
1 hour ago
Andy Jassy speaks in front of a black and blue background.
FinanceFortune 500
What is a Fortune 500 company? The story behind the list
By Sasha RogelbergJune 3, 2026
2 hours ago
SpaceX may be the biggest IPO ever, but Morningstar says it is overvalued by half and the smart investors will wait out the hype and buy later
Startups & VentureSpaceX
SpaceX may be the biggest IPO ever, but Morningstar says it is overvalued by half and the smart investors will wait out the hype and buy later
By Marco Quiroz-GutierrezJune 3, 2026
2 hours ago
Sallie Mae Private Student Loans review
Personal FinanceLoans
Sallie Mae Private Student Loans review
By Joseph HostetlerJune 3, 2026
2 hours ago
These Fortune 500 companies are bigger than most national economies—here’s where they’d rank as countries
Big TechFortune 500
These Fortune 500 companies are bigger than most national economies—here’s where they’d rank as countries
By Catherina GioinoJune 3, 2026
3 hours ago

Most Popular

Social Security unraveling: 7,100 workers sacked, performance metrics retired, disability claims falling
North America
Social Security unraveling: 7,100 workers sacked, performance metrics retired, disability claims falling
By Katie Savin, Callie Freitag, Matthew Borus and The ConversationJune 2, 2026
1 day ago
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
Environment
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
2 days ago
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
Banking
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
By Nick LichtenbergJune 2, 2026
2 days ago
Cognizant CEO says AI is remaking middle managers into player-coaches who can 'both  execute and develop others'
Newsletters
Cognizant CEO says AI is remaking middle managers into player-coaches who can 'both execute and develop others'
By Diane BradyJune 2, 2026
2 days ago
Current price of oil as of June 2, 2026
Personal Finance
Current price of oil as of June 2, 2026
By Joseph HostetlerJune 2, 2026
1 day ago
Current price of gold as of June 2, 2026
Personal Finance
Current price of gold as of June 2, 2026
By Danny BakstJune 2, 2026
1 day 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.