Key Takeaways
- • Nominal, an Austin, Texas-based manufacturing software developer, raised a $240M Series C at a $3B valuation, led by Lightspeed Venture Partners and Insight Partners.
- • Windward Bio Group, a Swiss antibody developer, set IPO terms at 10.3M shares priced at $16-18 per share, implying a roughly $1B fully-diluted value at the midpoint, with a planned Nasdaq listing under the ticker WWB.
- • Morgan Stanley agreed to acquire Vinyl Equity, a Winnetka, Ill.-based transfer agent that had raised around $31M from Jump Capital, Index Ventures, and MUFG Innovation Partners.
- • NRG Energy agreed to sell six natural gas-fired power plants to LS Power for $4B in cash, while PSP Investments agreed to acquire a 50% interest in Enercare for C$1.6B.
- • Charles River Labs is backing a $616M take-private buyout of Frontage, a Hong Kong-listed pharmaceutical testing company.
Summary
Nominal, an Austin, Texas-based manufacturing software developer, raised a $240M Series C at a $3B valuation, according to Axios. Lightspeed Venture Partners and Insight Partners led the round, joined by Lux Capital, Sequoia, General Catalyst, Founders Fund, Avenir, Salesforce Ventures, M13, Lockheed Martin Ventures, Red Glass Ventures, PSP Growth, and Deployment Capital.
The week's venture activity also included Laza Medical, a Campbell, Calif.-based AI cardiac imaging platform, which raised $160M in Series B funding led by GE HealthCare Technologies. Mavria, a Houston-based modular data center developer, raised $130M across pre-seed and seed rounds led by Paradigm. Delix Therapeutics, a Bedford, Mass.-based psychedelic pharma company, raised $100M in Series C funding led by Johnson & Johnson, having previously announced $85M of the round.
In private equity, NRG Energy (NYSE: NRG) agreed to sell six natural gas-fired power plants to LS Power for $4B in cash. PSP Investments agreed to acquire a 50% interest in Enercare, a Canadian HVAC services company backed by Brookfield, for C$1.6B. Gladstone acquired a majority stake in McFarlane Toys, with Todd McFarlane and Stephen Tetrault retaining minority stakes.
On the liquidity side, Charles River Labs (NYSE: CRL) is backing a $616M take-private buyout of Frontage, a Hong Kong-listed pharmaceutical testing company. Morgan Stanley agreed to acquire Vinyl Equity, a Winnetka, Ill.-based transfer agent that had raised around $31M from Jump Capital, Index Ventures, and MUFG Innovation Partners.
In public listings, Windward Bio Group, a Swiss developer of antibodies for respiratory and dermatologic diseases, set IPO terms at 10.3M shares for $16-18 per share. The offering implies a $1B fully-diluted value at the midpoint, and the company plans to list on the Nasdaq as WWB. The Phase 2/3 biotech has raised $365M from investors including OrbiMed, Novo Holdings, Blue Owl, and Sanofi Ventures.
The week's venture activity also included Laza Medical, a Campbell, Calif.-based AI cardiac imaging platform, which raised $160M in Series B funding led by GE HealthCare Technologies. Mavria, a Houston-based modular data center developer, raised $130M across pre-seed and seed rounds led by Paradigm. Delix Therapeutics, a Bedford, Mass.-based psychedelic pharma company, raised $100M in Series C funding led by Johnson & Johnson, having previously announced $85M of the round.
In private equity, NRG Energy (NYSE: NRG) agreed to sell six natural gas-fired power plants to LS Power for $4B in cash. PSP Investments agreed to acquire a 50% interest in Enercare, a Canadian HVAC services company backed by Brookfield, for C$1.6B. Gladstone acquired a majority stake in McFarlane Toys, with Todd McFarlane and Stephen Tetrault retaining minority stakes.
On the liquidity side, Charles River Labs (NYSE: CRL) is backing a $616M take-private buyout of Frontage, a Hong Kong-listed pharmaceutical testing company. Morgan Stanley agreed to acquire Vinyl Equity, a Winnetka, Ill.-based transfer agent that had raised around $31M from Jump Capital, Index Ventures, and MUFG Innovation Partners.
In public listings, Windward Bio Group, a Swiss developer of antibodies for respiratory and dermatologic diseases, set IPO terms at 10.3M shares for $16-18 per share. The offering implies a $1B fully-diluted value at the midpoint, and the company plans to list on the Nasdaq as WWB. The Phase 2/3 biotech has raised $365M from investors including OrbiMed, Novo Holdings, Blue Owl, and Sanofi Ventures.
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