Archives

StepStone: Secondaries Fund VI Closes With $3.3 Billion In Commitments

By Amit Chowdhry ● Jun 10, 2024

StepStone Group - a global private markets investment firm focused on providing customized investment solutions, advisory, and data services - announced that it has raised $3.3 billion for StepStone VC Secondaries Fund VI, L.P. (VSF VI), which is the firm’s sixth secondaries fund focused on opportunities in the venture capital asset class.

Cisco: $1 Billion Global AI Investment Fund Revealed

By Amit Chowdhry ● Jun 10, 2024

Cisco Investments (the global corporate venture investment arm of Cisco) launched a $1 billion AI investment fund to support the startup ecosystem and expand the development of secure and reliable AI solutions. As part of the new AI fund, Cisco is making strategic investments in Cohere, Mistral AI, and Scale AI, among others, to advance customers’ AI readiness and complement Cisco’s AI innovation strategy. Cisco already committed nearly $200 million of the $1 billion investment fund to date.

Jump: Financial Advisor AI Platform Company Raises $4.6 Million

By Amit Chowdhry ● Jun 10, 2024

Jump, an AI software platform for financial advisors, announced today that it has raised $4.6 million in funding led by Sorenson Capital with participation from Pelion Venture Partners and strategic angel investors.

Cloudera Acquiring Verta’s Operational AI Platform

By Amit Chowdhry ● Jun 10, 2024

Enterprise AI data company Cloudera announced it has deepened its AI expertise with its acquisition of Verta’s Operational AI Platform. And the Verta team will join Cloudera’s machine learning group, reporting to Chief Product Officer Dipto Chakravarty.

Stratos Wealth Advisors Adds $120 Million Pistone Team

By Amit Chowdhry ● Jun 10, 2024

Stratos Wealth Advisors (a part of Stratos Wealth Holdings) announced it has successfully recruited the multi-generational Pistone Wealth Advisors of Pepper Pike, Ohio. Pistone is led by President and CEO Karyn Pistone, who manages $120 million in client assets. The team also includes Senior Advisor Spencer Dieck, Practice Manager Linda Tekavec, and Advisor David Taucher.

CIM Group: $125 Million Loan Commitment To Support Applied Digital’s Computing Campus In North Dakota

By Amit Chowdhry ● Jun 10, 2024

Today CIM Group announced that it closed on an initial $125 million loan commitment with a potential increase up to $200 million to Applied Digital. This loan will fund construction of Applied Digital’s High-Performance Computing (HPC) Campus in Ellendale, North Dakota. The data center is designed to provide massive computing power and support HPC applications.

Permira: Substantial Investment In PharmaCord Revealed

By Amit Chowdhry ● Jun 10, 2024

Global investment firm Permira and PharmaCord, a leading provider of patient services for the pharmaceutical industry, announced that a company backed by the Permira funds has signed a definitive agreement to make a substantial investment in PharmaCord.

Sware: Life Sciences Software Validation Solution Company Raises $6 Million

By Amit Chowdhry ● Jun 10, 2024

Sware, a provider of the most complete software validation solution for innovative life sciences companies, announced that it raised $6 million in Series B funding, bringing its total raised since inception to $26 million. This funding round was led by First Analysis, which joins a syndicate of existing investors that includes LRVHealth, New Stack Ventures, and Insight Partners.

Tektonic AI: $10 Million Secured To Develop Gen AI Agents For Enterprises

By Amit Chowdhry ● Jun 10, 2024

Tektonic AI, a company building GenAI agents for enterprise processes, announced $10 million in funding led by Madrona and Point72 Ventures. Launched by Nic Surpatanu, Tektonic aims to automate the manual workflows that other methods leave unaddressed.

BairesDev: An Interview With CEO And Co-Founder Nacho De Marco

By Amit Chowdhry ● Jun 10, 2024

BairesDev is an expert partner that works along with clients to build high-quality software solutions with speed and precision. Pulse 2.0 interviewed BairesDev CEO and co-founder Nacho De Marco to learn more about the company.

Workbox: National Workspace Operator Company Raises $17.5 Million

By Amit Chowdhry ● Jun 10, 2024

Workbox, a Chicago-based national workspace operator, announced it raised $17.5 million in its Series A equity round with a follow-on option to secure an additional $5.5 million. Led by Chicago Atlantic, this funding round will help Workbox accelerate its growth across the US. So far, Workbox has raised over $25 million in total capital ahead of its follow-on allocation.

Torpago: Commercial Credit Card And Spend Management Company Raises $10 Million

By Amit Chowdhry ● Jun 10, 2024

Torpago, a commercial credit card and spend management provider, announced it raised $10 million in a Series B funding round. This funding round was co-led by Priority Tech Ventures (a division of Priority Technology Holdings) and EJF Ventures, with participation from BankTech Ventures and other existing investors.

John Branca And Occidental College Announce $5 Million Gift To Expand Institute For Music

By Amit Chowdhry ● Jun 10, 2024

Attorney John G. Branca ’72, partner and head of the music department at Ziffren Brittenham, one of the most respected entertainment law firms in the world, and Occidental College announced a $5 million gift from Branca that will establish the John Branca Institute for Music, a music teaching and learning facility at Occidental College in LA. David Kasunic, associate professor of music at Occidental, will serve as the Institute’s inaugural director.

Bain Capital Buying PowerSchool For $5.6 Billion

By Amit Chowdhry ● Jun 10, 2024

PowerSchool, a leading provider of cloud-based software for K-12 education, announced that it has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the company at $5.6 billion.

Viaduct: $10 Million Raised To Solve And Predict Product Failures

By Amit Chowdhry ● Jun 10, 2024

Viaduct, a developer of pioneering AI technology that identifies, solves, and predicts product failures, announced the closing of a $10 million Series B funding led by FM Capital. FM Capital was joined by Innovation Endeavors, Exor Ventures, Stellantis Ventures, and Sumitomo Rubber.

Wavelogix: Purdue University Concrete Sensor Spinout Secures $3 Million

By Amit Chowdhry ● Jun 10, 2024

Wavelogix, a manufacturer of patented and novel concrete strength sensors invented by Purdue University professor Luna Lu, announced it has received $3 million in Series A funding from Rhapsody Venture Partners.

Clean Energy Ventures: $305 Million Fund II Closed To Invest In Climate Innovations

By Amit Chowdhry ● Jun 10, 2024

Clean Energy Ventures (CEV), a leading global venture capital firm funding early-stage climate innovations, announced the closing of an oversubscribed second flagship fund with total capital commitments of $305 million.

Millie: Providing End-To-End Maternity Care In A $50 Billion Market

By Amit Chowdhry ● Jun 10, 2024

Millie is a new kind of maternity clinic built by moms and healthcare providers who have been there. Pulse 2.0 interviewed Millie founder and CEO Anu Sharma to learn more.

Town Lane: $1.25 Billion Raised For Inaugural Real Estate Investment Fund

By Amit Chowdhry ● Jun 10, 2024

Opportunistic real estate investment firm Town Lane completed the final close of its inaugural fund Town Lane Real Estate Opportunities Fund I, with $1.25 billion in total commitments.

Rockwood Invests In Energy Renewal Partners

By Amit Chowdhry ● Jun 10, 2024

Rockwood Equity Partners announced that it has completed an investment in Austin-based Energy Renewal Partners (ERP), an energy consulting service provider that specializes in energy development and decommissioning projects across the US.

Squared Circles: $40 Million Raised To Incubate Science-Based Brands

By Amit Chowdhry ● Jun 10, 2024

Squared Circles, a consumer-focused venture studio incubating brands grounded in science, announced the closing of a $40 million Series A funding round led by L Catterton.

Avantax Brings In $120 Million Financial Advisor Erin Hinzmann

By Amit Chowdhry ● Jun 10, 2024

Avantax, a leader in tax-focused financial planning and wealth management, announced it welcomed Erin Hinzmann - who joined Avantax Wealth Management via Alliance Wealth Strategies. Hinzmann was previously affiliated with Ameriprise Financial and had about $120 million in client assets under administration as of May 2024.

Society Brands To Buy Vitality Now

By Amit Chowdhry ● Jun 10, 2024

Society Brands, a consumer products company built for and by founders, partnered with the founders of Vitality Now for Society’s latest acquisition in the Direct-To-Consumer Health and Personal Care space, which will represent their fifth consecutive deal in this sector.

RWA Wealth Partners: Michelle Knight Named As CEO

By Amit Chowdhry ● Jun 10, 2024

RWA Wealth Partners, a leading independent fiduciary responsible for $15 billion in client assets, announced the promotion of Michelle Knight as the firm’s Chief Executive Officer. Most recently, Knight served as RWA Wealth’s President following the merger of Adviser Investments and Ropes Wealth Advisors.

ZeroMark: Defense Technology Company Raises $7 Million

By Amit Chowdhry ● Jun 10, 2024

Defense technology company ZeroMark announced a $7 million seed funding round led by prominent venture capital firms Ground Up Ventures and Andreessen Horowitz.

Solutions By Text: Compliance-First Messaging And Payments Company Raises $110 Million

By Amit Chowdhry ● Jun 10, 2024

Solutions by Text (SBT), a leading platform for compliance-first messaging and payments, announced raising $110 million in new growth financing. Growth equity investment firm Edison Partners co-led the transaction with StepStone Group. Stifel Venture Bank (a division of Stifel Bank) provided a lending facility.

TXSE Group Reveals Plans For Texas Stock Exchange With Backing From BlackRock And Citadel Securities

By Amit Chowdhry ● Jun 9, 2024

TXSE Group announced that it plans to launch the Texas Stock Exchange (TXSE), based in Dallas. And TXSE will focus on enabling U.S. and global companies to access U.S. equity capital markets and will provide a venue to trade and list public companies and the growing universe of exchange-traded products. TXSE will be a fully electronic and national securities exchange that will seek registration with the U.S. Securities and Exchange Commission.

TraceAir: Construction Site Analysis Company Raises $25 Million

By Amit Chowdhry ● Jun 9, 2024

TraceAir, a leading provider of site intelligence software for homebuilders and land developers, announced a $25 million Series B funding round led by PeakSpan Capital, with participation from Flashpoint Venture Capital and other existing investors. TraceAir offers builders and developers a visual/collaborative construction management platform that empowers businesses with data-driven insights to lower costs, improve efficiency, and reduce the risk of errors and delays.

Relay: Business Banking Platform Company Raises $32.2 Million

By Amit Chowdhry ● Jun 9, 2024

Relay, a business banking platform that provides small businesses (SMBs) with cash flow clarity, announced the closing of a US$32.2 million Series B financing round, led by Bain Capital Ventures. This brings Relay's total funding to $51.6 million.

Unchained And The University Of Austin Launch Long-Term Endowment Holding in Bitcoin

By Amit Chowdhry ● Jun 9, 2024

Unchained and the University of Austin (UATX) announced a collaboration to create the first long-term endowment holding in Bitcoin. These organizations are committed to raising $5 million in Bitcoin for the University’s long-term endowment; the proceeds from which the University has committed will remain in Bitcoin for a minimum of five years.