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

All the good news dealmakers need this weekend

Jessica Mathews
By
Jessica Mathews
Jessica Mathews
Senior Writer
Down Arrow Button Icon
Jessica Mathews
By
Jessica Mathews
Jessica Mathews
Senior Writer
Down Arrow Button Icon
July 8, 2022, 9:00 AM ET

Who’s tired of it? Doom and gloom. Doom and gloom. And—just for good measure—a little more doom and gloom.

There’s probably been enough layoffs, monkeypox, and bankruptcy talk to get you through the weekend. Trust me: We journalists get a lot of grief for always being so negative (From my dentist this week: I don’t read the news anymore, because it’s so depressing!). 

New data from CB Insights shows that global venture funding fell 23% in Q2 from the first quarter’s already slow rates. Some VCs may even be taking the whole summer off as they wait for terms to normalize again.  

So in the interest of kicking off a summer Friday, here are some good news stories to send you off into the weekend (or the whole rest of the summer, if that’s your plan…)

So let’s get on with it:

  • Hair transplants are cheaper in Turkey.
  • A bear cub got his head stuck in a jug, but it has been removed.
  • Aurora, Colo. is allowing ice cream trucks back into town after a 65-year ban.
  • Boris Johnson resigned.
  • A startup is reviving Iraq’s date production industry.
  • Those pesty, but cute, little yellow blobs broke box office records.
  • You can now get paid to catch and eat certain fish in Maryland.
  • Last year was a record one for retirement balances. We love to save!
  • An astronomical calculator found in a shipwreck is the most sophisticated mechanical device we’ve found to-date from the last millennium. 
  • Geckos and possums get along.

Sorry, but I do have to mention… that Sunny Balwani, the Theranos’ COO and Elizabeth Holmes’ former boyfriend, was convicted of all 12 counts of fraud yesterday (You can read more about the trial here). And Rajeev Misra will take a step back from his main roles at SoftBank and is launching a new multi-billion fund.

Going public! Bloomberg reported yesterday that private equity and venture capital firm General Atlantic is speaking with advisers about a potential IPO. 

A programming note… Don’t worry. I’m not going anywhere. Well, I am. I’m going to Aspen this Sunday for our Brainstorm Tech conference. But I’ll still be writing this newsletter, and I plan to be writing about the conference. If you will be there, say hi! You should also come to the eVTOL panel I am moderating on the mainstage or the investing roundtable breakfast I’m hosting. If you can’t make those, tag along with me on the Monday morning hike. Can’t wait to see you there!

Until Monday,

Jessica Mathews
Twitter: @jessicakmathews
Email: jessica.mathews@fortune.com
Submit a deal for the Term Sheet newsletter here.

Jackson Fordyce curated the deals section of today’s newsletter.

VENTURE DEALS

- Coalition, a San Francisco-based digital and executive risk insurance company, raised an additional $250 million in Series F funding. Allianz X, Valor Equity Partners, Kinetic Partners, and others invested in the round. 

- Flexe, a Seattle-based programmatic logistics company, raised $119 million in Series D funding. Funds and accounts managed by BlackRock, Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, T. Rowe Price Associates, T. Rowe Price Investment Management, and Tiger Global invested in the round.

- Tebra, a Newport Beach, Calif.-based operating system for independent health care practices, raised $72 million in funding. Golub Capital led the round and was joined by investors including OpenView Venture Partners, Greenspring Associates, Stripes Group, Montreux Growth Partners, Toba Capital, and Vivo Capital. 

- DEUNA, a Mexico City-based commerce operating system, raised $30 million in Series A funding. Activant Capital led the round and was joined by investors including Valor Capital, Abstract Ventures, Acrew Capital, Upload Ventures, and other angels. 

- Kernal Biologics, a Cambridge, Mass.-based development-stage mRNA-technology company developing cancer therapeutics, raised $25 million in Series A funding. Hummingbird Ventures led the round and was joined by investors including Amgen Ventures, HBM Genomics, Civilization Ventures, and others.

- Lucinity, a Reykjavík, Iceland-based anti-money laundering software developer, raised $17 million in Series B funding. Keen Venture Partners led the round and was joined by investors including Experian, Crowberry Capital, Karma Ventures, and byFounders.

- Logiwa, a Chicago-based cloud fulfillment platform, raised $16.4 million in Series B funding. NewRoad Capital Partners led the round and was joined by investors including Valor Siren Ventures, Runway Venture Partners, Spider Capital, and Launch Capital. 

- Griffin, a London-based banking as a service fintech firm, raised $15.5 million in funding. Notion Capital led the round and was joined by investors including EQT Ventures, Plaid co-founder and Column founder and co-CEO William Hockey, Wise vice president of growth Nilan Peiris, Liberis CEO Rob Straathof, and Mollie CEO Shane Happach. 

- Fyto, a Bay Area, Calif-based aquatic plant science automation company, raised $15 million in Series A funding. GV led the round and was joined by investors including AgFunder, Refactor Capital, First Star Ventures, and Bolt. 

- Sortera Alloys, a Fort Wayne, Ind.-based scrap metal sorting and recycling company, raised $10 million in funding. Assembly Ventures led the round and was joined by investors including Breakthrough Energy Ventures and Novelis. 

- WagerWire, a Los Angeles-based marketplace where bettors can buy and sell previously placed sports bets, raised $3 million in seed funding. Miami Marlins and Leeds United FC co-owner Roger Ehrenberg led the round as a part of his venture funds IA Sports Ventures and Eberg Capital and was joined by investors including Cardinal Sports Capital, 305 Ventures, Full Moon Sports Solutions, Sports Meta, and others.

PRIVATE EQUITY

- Mercer Global Advisors acquired Harrison & Company Wealth Management, a Roanoke, Va.-based wealth management firm. Financial terms were not disclosed.

- Prime ABA, backed by Godspeed Capital, acquired a majority stake in Zyscovich, a Miami-based architecture, interior, and urban design, and consulting services firms. Financial terms were not disclosed

- QHP Capital, the management company for NovaQuest Private Equity, acquired Lexitas Pharma Services, a Durham, N.C.-based ophthalmology contract research organization supporting biopharmaceutical and medical device clinical trials. Financial terms were not disclosed.

- Quote.com, a portfolio company of Osceola Capital, acquired Ring2Media, a Westport, Conn.-based direct response Medicare enrollment marketing agency. Financial terms were not disclosed. 

- Time Manufacturing, backed by H.I.G. Capital, acquired France Elévateur, a Flavigny-sur-Moselle, France-based designer and manufacturer of lifting platforms on carriers. Financial terms were not disclosed. 

- Waste Eliminator, backed by Allied Industrial Partners, acquired Gainesville Waste & Recycling, a Gainesville, Ga.-based recycling and composting operations company, and Dawsonville Waste & Recycling, a Dawsonville, Ga.-based landfill. Financial terms were not disclosed.

OTHER

- SD Biosensor and SJL Partners agreed to acquire Meridian Bioscience, a Cincinnati-based medical testing company, for $1.53 billion. 

- Cardinal Health acquired ScalaMed, a Houston-based prescription platform. Financial terms were not disclosed. 

IPOS 

- General Atlantic, a New York-based investment firm, is weighing an initial public offering, according to Bloomberg. 

FUNDS + FUNDS OF FUNDS

- RCP Advisors, a Chicago-based private equity firm, raised $645.4 million for a fund focused on lower middle market companies.

PEOPLE

- Carlyle, a Washington D.C.-based investment firm, hired Richard Elder as head of global portfolio solutions. Formermly, he was with Nouryon. 

- Content Partners, a Los Angeles-based investment firm, hired Rob Amir as senior executive vice president. Formerly, he was with Vine Alternative Investments. 

- Sagewind Capital, a New York-based middle-market private equity firm, promoted Michael Gebhardt to principal.

This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox.

About the Author
Jessica Mathews
By Jessica MathewsSenior Writer
LinkedIn iconTwitter icon

Jessica Mathews is a senior writer for Fortune covering transportation, defense tech, and Elon Musk’s companies.

See full bioRight Arrow Button Icon

Latest in Newsletters

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 Newsletters

Shivon Zilis was caught between Elon Musk, OpenAI, and motherhood
NewslettersMPW Daily
Shivon Zilis was caught between Elon Musk, OpenAI, and motherhood
By Emma HinchliffeMay 8, 2026
13 hours ago
Anduril CEO Brian Schimpf
NewslettersTerm Sheet
Brian Schimpf has been quietly running Anduril since its earliest days. And once he’s talking, he has a lot to say
By Allie GarfinkleMay 8, 2026
18 hours ago
Apple AirPods Pro in Cupertino, California, on Sept. 9, 2025. (Photo: David Paul Morris/Bloomberg/Getty Images)
NewslettersFortune Tech
Apple AirPods with cameras are coming
By Andrew NuscaMay 8, 2026
19 hours ago
State Street’s CEO warns of a global fertilizer crisis due to the Iran war: ‘I personally worry about what happens if this goes on much longer’
NewslettersCEO Daily
State Street’s CEO warns of a global fertilizer crisis due to the Iran war: ‘I personally worry about what happens if this goes on much longer’
By Diane BradyMay 8, 2026
21 hours ago
The beauty founder who built a business on QVC is ready as America discovers a new love for live shopping
NewslettersMPW Daily
The beauty founder who built a business on QVC is ready as America discovers a new love for live shopping
By Emma HinchliffeMay 7, 2026
2 days ago
Anthropic’s SpaceX compute deal comes as AI data center backlash grows—fueled by both real grievances and conspiracy theories
NewslettersEye on AI
Anthropic’s SpaceX compute deal comes as AI data center backlash grows—fueled by both real grievances and conspiracy theories
By Sharon GoldmanMay 7, 2026
2 days ago

Most Popular

California farmers must destroy 420,000 peach trees after Del Monte closes its canneries and cancels more than $550 million in long-term contracts
North America
California farmers must destroy 420,000 peach trees after Del Monte closes its canneries and cancels more than $550 million in long-term contracts
By Sasha RogelbergMay 7, 2026
1 day ago
'Blue dot fever' plagues musicians like Post Malone, Meghan Trainor, and Zayn as a growing list of artists cancel tours due to lagging ticket sales
Arts & Entertainment
'Blue dot fever' plagues musicians like Post Malone, Meghan Trainor, and Zayn as a growing list of artists cancel tours due to lagging ticket sales
By Dave Lozo and Morning BrewMay 7, 2026
1 day ago
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
Magazine
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
By Sharon GoldmanMay 6, 2026
3 days ago
U.S. Treasury will have to borrow $2 trillion this year just to continue functioning—more than $166 billion every month
Economy
U.S. Treasury will have to borrow $2 trillion this year just to continue functioning—more than $166 billion every month
By Eleanor PringleMay 7, 2026
2 days ago
Airbnb CEO Brian Chesky warns two types of people won’t survive the AI era: ‘pure people managers’ and workers who resist change
Success
Airbnb CEO Brian Chesky warns two types of people won’t survive the AI era: ‘pure people managers’ and workers who resist change
By Emma BurleighMay 7, 2026
2 days ago
Current price of oil as of May 8, 2026
Personal Finance
Current price of oil as of May 8, 2026
By Joseph HostetlerMay 8, 2026
17 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.