Archives

New Heritage Capital (Heritage) recently announced the closing of its oversubscribed fourth fund, New Heritage Capital IV, L.P. at $438 million in total capital commitments, exceeding its target of $350 million. Heritage focuses on partnering with high-growth, founder-owned businesses in the middle market. Since its founding in 2006, Heritage has raised approximately $1 billion in committed capital and invested in more than 15 platform companies and 30 add-on acquisitions.

Together AI is a research-driven artificial intelligence company. And the company contributes leading open-source research, models, and datasets to advance the frontier of AI. The company is also creating a comprehensive cloud platform to enable developers everywhere to build on open and custom AI models.

Pantheon - a leading global private markets investor - recently announced the successful closing of Pantheon Global Secondaries Fund VII and associated vehicles (PGSF VII), its latest flagship global private equity secondaries offering, with commitments totaling $3.25 billion.

Netrality Data Centers - one of the largest, privately held owners and operators of core interconnection facilities in the U.S. - recently announced it has secured a $380 million sustainability-linked credit facility (SLL).

Local Infusion - a leading tech-enabled infusion provider - recently announced it has closed on a $10 million Series A funding round led by Blisce with participation from Meridian Street Capital and existing investors. The new funding round will be used to expand the company's footprint to New Jersey, Connecticut, and Maryland in 2024 and build out the company's proprietary referral and care coordination technologies.

Helicity Space - a commercial space company developing in-space propulsion and power technology based on fusion power - announced $5 million in seed round funding from several new investors, including Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures, and Gaingels. Co-founded by Setthivoine You (former professor in plasma physics at the University of Tokyo and University of Washington) along with Marta Calvo (formerly at Aerojet Rocketdyne with a background in chemical engineering) and Stephane Lintner (formerly at Goldman Sachs with a background in applied mathematics), the team at Helicity Space is focused on changing the game with fusion propulsion and its applications to advance exploration efforts, ultimately benefitting life on Earth.

Material Impact recently announced a $352 million fund to expand its impact as the first-money partner to inception-stage companies pioneering products enabled by material science innovation. The firm's unique and compelling investment thesis, which prioritizes investment in companies solving large-scale and real-world problems, enabled the firm to raise funds amid an economic downturn that saw VC and LP funding run dry.

Morgan Stanley Investment Management (MSIM) recently announced the final close of Morgan Stanley Next Level Fund, L.P. at its target size $50 million of total capital commitments. The investors in the strategy include the inaugural corporate partners Hearst, Microsoft and Walmart as well as Altria, Ten Figures Ventures and Phalanx Impact Partners.

Helix by HL - an innovative generative AI assistant revolutionizing private market investing - recently announced the successful completion of its Seed+ funding round with a raise of $6 million at a post-money valuation of $26 million. The funding round was led by FINTOP Capital, a prominent venture capital firm known for its strategic investments in cutting-edge financial technology.

Medefy Health - a mobile-first healthcare benefits navigation platform dedicated to improving the employee health benefits experience through real-time guidance - announced today that it has raised $10 million in Series A funding led by Mercury Fund with participation from Advantage Capital. This new funding round will enable Medefy further to enhance its existing technology platform and artificial intelligence capabilities to operate more efficiently at scale.

Armada - an edge computing pioneer redefining the future of connectivity, computing and AI - exited stealth today. The company also marks this milestone with a significant capital raise exceeding $55 million, led by Founders Fund, Lux Capital, Shield Capital and 8090 Industries, with participation from Felicis, Contrary, Valor Equity Partners, Marlinspike, 137 Ventures, Koch Real Estate Investments, 8VC and a cohort of other strategic investors.

Mistral AI - a company that makes computing efficient, useful, and powerful AI models - recently announced it raised €385 million. This puts the company's valuation at about US$2 billion.

Liquid AI is a company that aims to build state-of-the-art, general-purpose AI systems that are capable, efficient, and trustworthy. The company also recently raised $37.6 million in a seed round of funding. The company was founded by Ramin Hasani, Mathias Lechner, Alexander Amini, and Daniela Rus, and it spun out of MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL).

Today Occidental announced it entered into a purchase agreement to acquire Midland, Texas-based oil and gas producer CrownRock L.P., a joint venture of CrownQuest Operating LLC and Lime Rock Partners, for cash and stock in a transaction valued at approximately $12 billion, including the assumption of CrownRock’s debt.

WeVideo offers a dynamic and all-in-one platform for interactive video learning. The company’s solution seamlessly integrates video creation with layered learning experiences, creating an immersive and engaging environment for students to learn at their own pace. Pulse 2.0 interviewed WeVideo chief executive officer Kevin Knight to learn more about the company. 

Vaultree is a company that has developed the world’s first fully functional data-in-use encryption solution that solves the industry’s fundamental security issue: persistent data encryption, even in the event of a leak. Vaultree delivers real-time processing on encrypted data at unmatched speed and scale, seamlessly integrating into existing databases for enhanced efficiency, cost savings, and ROI. Pulse 2.0 interviewed Vaultree CEO and co-founder Ryan Lasmaili.

CropX is an ag-analytics company that develops powerful digital tools that provide advanced insights into agronomic operations and farm data to dramatically boost crop yields, reduce farming’s environmental impacts, and minimize water and energy costs for farms. Pulse 2.0 interviewed CropX chief revenue officer (CRO) John Gates to learn more about the company. 

Marketplacer is an Australia-based Software as a Service (SaaS) company equipped with the tools and functionality to supercharge commerce, building successful and scalable online marketplaces at speed. Whether you are a retailer, brand, distributor, franchise, or community, Marketplacer makes growth easier. Pulse 2.0 interviewed Marketplacer CEO Jason Wyatt to learn more about the company. 

Letterhead - a software platform for automating the creation and management of email newsletters - recently announced the closing of a $5.3 million seed round today. Las Olas Venture Capital and Reign Ventures led the funding round, with participation from BDMI, Florida Opportunity Fund, and McClatchy.

PayGround - a healthcare fintech payments platform - recently announced it closed a $19.7 million oversubscribed Series A financing led by SixThirty with participation from Rally Ventures, IA Capital Group, FCA Venture Partners, and Plug and Play Ventures.

Paysend - a global fintech leader in international money transfers - recently announced it has raised an impressive $65 million in its latest funding round.

Irradiant Partners, LP - an alternative investment manager with over $10 billion in assets under management - recently announced the closing of $411 million in commitments on the third vintage of the Irradiant CLO equity strategy (ICLOP III), eclipsing its fundraising target of $400 million. Over 95% of investors in ICLOP III are returning investors from the last vintage of the strategy.

Hololight - a leading specialist in AR and VR solutions for the enterprise market - recently announced it has secured a further $12 million in funding to accelerate the development of its XR streaming platform, Hololight Hub. And as the only proven enterprise streaming platform on the market for immersive applications, including virtual and augmented reality (XR), Hololight has set the benchmark in XR streaming, having pioneered the technology since 2015.

Riverwood Capital - which is one of the leading investment firms solely dedicated to technology growth and scalability - recently announced it closed approximately $1.8 billion in new capital commitments to invest in high-growth technology businesses globally. The closing coincided with Riverwood’s 15-year anniversary.

Primergy Solar LLC - a leading developer, owner, and operator of utility-scale solar and storage projects - recently announced that it closed commitments for $300 million in debt finance and tax equity investment for the 100 MWac Prairie Mist Solar Project in Ashley County, Arkansas.

Quartix - a fintech firm dedicated to bringing Supply Chain Finance (SCF) solutions to mid-market industrial clients - recently announced a successful funding round and a new credit facility that can scale up to $50 million.

Bridge Bank (a division of Western Alliance Bank) recently announced that its Technology Banking Group closed a $3.5 million venture debt term loan with Gooten, a leading technology and fulfillment company based in New York. Gooten will use the funding for continued growth and expansion.

Phalanx Impact Partners (a US-based impact-driven private equity firm) recently announced they have invested in ECOR Global (an emerging leader in manufacturing sustainable materials and circular solutions for the building products and packaging markets).

Culmination Bio - a company building the largest disease-agnostic patient data intelligence platform - recently announced a $10 million investment from Merck Global Health Innovation Fund (Merck GHI) and Amgen Ventures.

Spear Bio - a Harvard University biotech spin-off developing scalable solutions for ultrasensitive detection of protein biomarkers - recently announced it completed tens of millions of US dollars in an oversubscribed Seed Prime round. The oversubscribed funding round was led by CDH Investments, with additional investments from earlier investors like Maverick Ventures and YongHua Capital.