Big Bets: Sempra, Canal+, Oakmont

Thoma Bravo + PROS Holdings ($1.4B) – Thoma Bravo is acquiring Houston-based AI-powered SaaS pricing firm PROS in an all-cash deal expected to close in Q4.

Zvoove + Plan4Flex – Zvoove expands its staffing software suite by acquiring Dutch provider Plan4Flex; deal expected to close in the next two weeks.

Halon + Eleven Cyber Security – Halon strengthens email threat detection capabilities by acquiring Eleven Cyber Security, processing over 1T emails annually.

LEA Partners + SEPPmail – LEA Partners enters a growth partnership with email security provider SEPPmail, which serves 3,400+ customers with encryption and threat protection solutions.

Gridspertise + Energyworx – Jointly controlled by Enel and CVC Capital, Gridspertise acquires cloud-based energy data firm Energyworx to bolster its grid modernization offerings.

Keensight Capital + Decision Focus – Keensight acquires a majority stake in Danish governance, risk, and compliance software provider Decision Focus to support international growth and AI-driven expansion.

Carrick Capital + Intelligo – Carrick Capital takes a majority stake in risk intelligence firm Intelligo, co-invested by AB Private Credit Investors and backed by a Trinity Capital debt facility.

Riverwood Capital Leads $180M Investment in AppZen – AppZen, an Agentic AI platform for finance teams, raised $180M to expand its Mastermind AI Studio and accelerate global go-to-market growth.

Omie Raises $160M Led by Partners Group – Brazilian cloud management software provider Omie secured funding primarily through secondary transactions, allowing early investors to partially exit while supporting continued growth.

Luminary Cloud Raises $72M Series B – Physics AI platform Luminary Cloud, led by N47, expands research and go-to-market efforts for near real-time engineering simulations.

AI x IA Invests $14M in Merciv – Merciv, combining artificial and human intelligence, received $14M to commercialize its AI platform featuring the multi-variate agentic workflow tool Eva.

Arbor Ventures Leads $10M in InCountry – InCountry launches its AgentCloak AI agent data protection solution with $10M to expand global deployment and R&D.

Morpheus Ventures Leads $10M for Salt AI – Life sciences AI startup Salt AI raises $10M to scale customer adoption and expand global AI engineering teams.

Brineworks Raises €6.8M for E-Fuels Tech – Climate tech startup Brineworks secures funding to scale its low-cost direct air capture system for sustainable fuel production.

Foundation Capital Leads $7.4M in Eloquent AI – Eloquent AI, focused on customer support automation for regulated financial institutions, raises $7.4M to advance its multimodal large language model Oratio.

Veezoo Secures $6M Series A – Swiss analytics platform Veezoo raises $6M to accelerate expansion in Europe and the U.S.

Unit 221B Raises $5M – Threat disruption platform eWitness secures $5M to expand investigative collaboration tools and accelerate go-to-market efforts.

Mycroft Raises $3.5M Led by Luge Capital – AI-native security platform Mycroft raises seed funding to enhance product development and scale security operations.

VyomIC Raises $1.6M for Satellite Navigation Services – Pre-seed funding supports development of a LEO-based satellite constellation to provide secure and independent PNT services.

NVIDIA to Invest Up to $100B in OpenAI – NVIDIA will invest up to $100B in OpenAI, acquiring a noncontrolling stake, as part of a strategic partnership to build next-generation AI infrastructure. OpenAI will deploy at least 10 GW of NVIDIA data center systems, starting with a $10B tranche tied to the Vera Rubin platform, with the first phase planned for H2 2026.

Allwyn to Buy Majority of PrizePicks for $1.6B – Allwyn is acquiring 62% of daily fantasy sports operator PrizePicks, valuing the company at $2.5B with potential for up to $4.15B including performance payments. PrizePicks will continue as a standalone brand under CEO Mike Ybarra, with the deal closing in H1 2026.

Chiliz Takes Control of OG Esports – Blockchain company Chiliz acquired a 51% stake in European esports team OG Esports. Co-founder Xavier Oswald becomes CEO, and the $OG Fan Token will now run exclusively on Chiliz’s Socios.com platform.

Rec Raises $11M – Rec, a recreation tech platform, secured $11M in Series A funding led by Crosslink Capital and supported by pro athletes like Kevin Durant and Joe Montana. Funds will expand markets and enhance AI features.

Chickasaw Nation Backs OKC Soccer – Chickasaw Nation joins Echo Investment and Russell Westbrook Enterprises to launch professional men’s and women’s soccer teams in Oklahoma City.

Seacoast Capital Invests in Mail America – Seacoast Capital supports Mail America’s recapitalization, helping the company grow and upgrade its tech for direct mail marketing.

The US government is set to collect a multi-billion-dollar fee as part of a deal transferring TikTok’s US operations to American investors, including Silver Lake and Oracle. ByteDance would reduce its stake to under 20%, and the fee compensates the government for its role in negotiating the transaction.

Pfizer Acquires Metsera for $4.9B – Expands into obesity and cardiometabolic treatments with oral and injectable candidates.

Patient Square Takes Premier Private for $2.6B – Healthcare tech company gains financial flexibility to accelerate product development and growth.

PAI Partners Considers €1B Exit With Ethypharm – French drugmaker specializing in pain and addiction treatments goes up for sale.

Genesee Scientific Buys Jade Scientific – Expands lab supply offerings and market reach across clinical, pharma, biotech, and environmental sectors.

Waterland Private Equity Acquires 52% of Cruinn Diagnostics – Investment to accelerate growth and next-gen healthcare diagnostics.

HMP Global Acquires Psychiatry Redefined – Strengthens integrative mental health education by combining traditional and functional care approaches.

360 One Leads $193M Debt Round for PharmEasy – Mumbai-based online pharmacy will use proceeds to repay a previous Goldman Sachs loan; investors include Alkram Ventures, MVS Ventures, Micro Labs, and others.

AusperBio Raises $63M Series B2 – Funds will advance AHB-137, a targeted oligonucleotide therapy for chronic hepatitis B; co-led by Qiming Venture Partners and a strategic investor.

Avenzo Secures $60M Series B – San Diego oncology biotech brings total capital raised to $446M to support its pipeline of advanced cancer therapies; led by OrbiMed and SR One.

Ensoma Closes $53M Round – Boston-based HSC engineering company funds Phase 1/2 trial for EN-374, a therapy for X-linked chronic granulomatous disease, while advancing immuno-oncology and sickle cell platforms; existing investors include Gilead and the Gates Foundation.

MapLight Therapeutics, a Redwood City-based clinical-stage biotech developing therapies for central nervous system disorders, has filed for a Nasdaq IPO under the ticker MPLT. The move follows a $372.5M Series D raise in July, which brought in new investors including Sanofi and T. Rowe Price, alongside existing backers such as Catalyst4, Nan Fung Group subsidiaries, Novo Holdings, and Forbion. Morgan Stanley, Jefferies Financial Group, and Leerink Partners are serving as lead underwriters for the offering.

BBVA Raises Sabadell Bid to €17B: BBVA increased its all-stock takeover offer for Banco de Sabadell by 10%, but Sabadell’s CEO rejected it as “very weak.” Offer period ends Oct. 7.

Concurrent Acquires Next Retirement: Concurrent Investment Advisors, backed by Merchant Investment Management, acquired San Diego-based retirement planning firm Next Retirement, managing $10B in assets.

Aprio Expands in Midwest: Aprio will acquire Mize CPAs and Prism Financial ($1.8B in client assets); managing partners Hilbert and Shmidl to join Aprio.

Elevation Point Invests in Loxahatchee Capital: Minority stake acquired in newly launched $1.4B multi-family office led by Andrew Plum and Thomas Cullen.

EisnerAmper Buys Bolotin Financial: $1.1B Boston-based wealth management firm joins EisnerAmper’s Prosperity platform.

Union Investments, Harel Buy Israel Credit Cards: 72% stake acquired for $807M; remaining 28% may sell for $299M.

MAI Capital Acquires J.W. Coons Advisors: $612M wealth advisory joins MAI Capital; terms undisclosed.

Amynta Acquires International Sureties: Commercial surety broker adds to Amynta’s portfolio; CEO Fitz-Hugh remains.

Spring Lane Takes Majority in Spring Free EV: $7.2M financing round; Rob Day named CEO; Hoffman and Williams remain investors.

Greenlight Pushes Brighthouse Sale: Hedge fund backs merger with Aquarian Holdings at $65–$70/share.

Tamara Secures $2.4B BNPL Financing: Saudi buy-now-pay-later provider Tamara raised a Shariah-compliant financing package from Goldman Sachs, Citi, and Apollo funds, refinancing a $500M facility and supporting future expansion.

AVAX One Launches, Plans $550M Raise: AgriFORCE rebrands as AVAX One to acquire Avalanche (AVAX) tokens, raising $550M led by Hivemind Capital and Anthony Scaramucci, aiming for $700M in AVAX ownership.

Cardless Raises $60M Series C: SF-based credit card platform Cardless hits over $170M total funding, led by Spark Capital, to expand programs and launch new financial products.

Erad Expands Shariah-Based Lending with $33M Debt: Indian investor Stride Ventures leads financing for Saudi/UAE fintech Erad to scale SME lending platform.

Stable Gains PayPal Investment: Layer-1 blockchain Stable receives strategic funding from PayPal Ventures; PayPal USD will be used on the platform.

Simple Ventures Raises $15M to Launch 25 Canadian Startups: TD Innovation, Sun Life, Sobeys, and founders from Wealthsimple, Shopify, Knix back the initiative to create new Canada-based companies by 2030.

Tilt Raises $7.1M for AI-Powered Tax Investing: Miami-based direct indexing platform expands teams and scales its tax optimization engine after seed funding led by Portage and Lerer Hippeau.

OnFinance AI Secures $4.2M Pre-Series A: Bengaluru-based BFSI generative AI platform raises funds to scale AI models globally and accelerate R&D.

Predicti Raises $4.2M: Danish fintech expands AI platform helping banks anticipate customer behavior for personalized offers and engagement.

Rekord Nets $2.1M Pre-Seed: Dublin AI credit platform expands across EU and UK and grows team, led by Point Nine Capital.

Hunter Point Invests in $5B AUM Lender Willow Tree: HPC provides undisclosed capital to NY-based private credit manager Willow Tree, supporting continued growth.

AmTrust and BXCI Spin Off Independent MGA Giant: AmTrust Financial Services and Blackstone Credit & Insurance are creating a new, independent MGA company in the US, UK, and Europe, retaining 700 employees across seven subsidiaries. Current AmTrust President Adam Karkowsky will serve as CEO and chairman. AmTrust maintains a 10-year underwriting agreement and significant equity stake.

Neptune Flood Insurance Eyes $368M IPO: Florida-based Neptune Insurance Holdings plans a US IPO to raise up to $368M, with shares sold by existing investors including co-founder Jim Albert, Bregal Sagemount, and FTV Capital. Cornerstone investors T. Rowe Price and AllianceBernstein are targeting up to $75M in combined shares.

Warburg Pincus to Sell TRC Companies – PE firm Warburg Pincus is selling its engineering and construction project management firm, TRC Companies, for over $3B. The firm was acquired in 2021, and advisors Harris Williams, UBS, and AEC Advisors are managing the sale.

Converge Consulting Joins DHCG – Dark Horse Consulting Group (DHCG) acquired Boston-based Converge Consulting, expanding into supply chain, manufacturing, and IT solutions.

Natura Sells Avon International to Regent – Natura is selling Avon operations in Europe, Africa, and Asia to Regent, keeping focus on Latin America and retaining the Avon brand IP.

TreeServe Expands With Two Acquisitions – Tree care platform TreeServe acquired Dave Leonard Tree Specialists (KY) and JL Tree Service (VA), now operating in six states.

CompassMSP Strengthens IT Services – CompassMSP, part of Agellus Capital, acquired Simplegrid Technology to boost cybersecurity and IT services for financial, legal, and healthcare clients in the Northeast.

EQT Exits TELUS Digital – EQT sold its remaining stake in TELUS Digital to TELUS Corporation, after a partnership that included several acquisitions, with the deal expected to close in Q4.

Tide Raises $120M+, Valuation Hits $1.5B – TPG’s The Rise Funds led a $120M+ investment in UK business management platform Tide, with Apax Digital Funds participating. The capital will fund international expansion, product development, and agentic AI initiatives.

Circuit & Chisel Secures $19.2M Seed Round – Agentic commerce platform Circuit & Chisel raised $19.2M, co-led by Primary Venture Partners and ParaFi Capital, with participation from Stripe, Coinbase Ventures, and Solana Ventures. Funds will support the launch of ATXP, a protocol enabling AI agents to autonomously manage the full commerce lifecycle.

Five Points Capital Backs Rumble Pest Solutions – Springdale, AR-based residential pest control company Rumble Pest Solutions received debt and equity co-investment from Five Points Capital to support a recapitalization led by a Florida SBIC.

Lucid Green Secures Growth Funding – Cannabis tracking and compliance provider Lucid Green raised new capital from lead investors to support adoption growth. The platform helps brands improve inventory management and consumer engagement.

Lucid Green Secures Growth Funding – Cannabis tracking and compliance provider Lucid Green raised new capital from lead investors to support adoption growth. The platform helps brands improve inventory management and consumer engagement.

Atlas Holdings to Acquire Office Depot Parent for $1B – The ODP Corporation will be taken private in an all-cash deal with Atlas Holdings. JPMorgan and Simpson Thacher & Bartlett advised ODP, while Lazard and Willkie, Farr & Gallagher advised Atlas.

Frazil Acquires Missouri’s Alligator Ice – Plexus Capital-backed Frazil, also known as Freezing Point, added Alligator Ice to its frozen beverage portfolio, following a recent acquisition of Berkeley Street Beverage in California.

Masan Consumer Seeks $1B Pre-IPO Investment – The Vietnamese conglomerate plans to sell a 15–20% minority stake ahead of its IPO on the Ho Chi Minh Stock Exchange, now expected in Q2 2026. Alibaba and Baring Private Equity Asia previously backed the company.

Saks Global Eyes $1B Minority Sale of Bergdorf Goodman – Saks Global is exploring the sale of a 49% stake in its luxury department store, with potential interest from sovereign wealth funds and strategic investors. The iconic Fifth Avenue real estate is excluded from the deal.

Navan, the corporate travel management platform backed by a16z, Greenoaks and Lightspeed Ventures, has filed for an IPO on the Nasdaq after posting 30% revenue growth in the first half of fiscal 2026. The company reported $329.4M in revenue and a net loss of $99.9M for the six months ending July 31. Goldman Sachs, Citigroup and Morgan Stanley are leading the offering.

H2O Innovation Buys Lama Sistemas de Filtrados — Canadian water solutions firm H2O Innovation, backed by Ember Infrastructure, acquired Spain’s Lama Sistemas de Filtrados. The deal, its 20th acquisition, expands H2O’s membrane filtration and pretreatment offerings, while retaining all 40 Lama employees.

Tallvine Partners Acquires Donjon Marine — Miami-based PE firm Tallvine Partners bought New Jersey’s Donjon Marine, a marine infrastructure platform specializing in dredging, salvage and remediation. The company, Tallvine’s third platform, will continue under its existing management and brand.

La Caisse to Acquire Edify Energy — La Caisse agreed to acquire Australian renewable energy and battery storage company Edify Energy in a CAD 1B ($723M) deal. The transaction, including additional equity funding, will finance two hybrid solar and battery projects totaling 900 MW/3,600 MWh for Rio Tinto and the Australian government, pending regulatory approvals.

Lithium de France Raises €40M — Lithium de France closed a €40M ($47.2M) Series B2 round, fully subscribed by Arverne Group and Equinor Ventures, to advance geothermal and lithium projects in northern Alsace, France. Funding will support drilling, a direct lithium extraction demo plant, and front-end engineering design studies.

Carbon Masters India Secures Equity Funding — Climate-tech firm Carbon Masters India raised a new equity round, led by Schneider Electric Energy Access Asia, Sangam Ventures, and the IAN Group, to expand production of its renewable biomethane (CBG) and organic fertilizer. Additional investors included Sriram Sankaran and Muthu Murugappan.

Lion Equity Partners buys Custom Tube Products — The Florida-based precision tubing maker joins forces with Lion’s Elkhart Tri-Went Industrial to expand capabilities and market reach.

SBP expands West Coast presence — Specialty Building Products acquires OrePac in Oregon; OrePac keeps its brand and leadership.

Kinderhook Industries acquires ADC — Georgia copper wire manufacturer joins Kinderhook’s portfolio; new CEO Kurt Breischaft to lead growth and product expansion.

OptiGroup takes over Paardekooper FRIS division — Netherlands-based operations, including China and Ireland, now operate as Paardekooper Packaging.

Interstate Waste Services grows in Connecticut — IWS acquires North Atlantic Waste & Recycling to strengthen regional service coverage.

Empower Semiconductor raises $140M+ in Series D — Funding led by Fidelity, with participation from CapitalG, Maverick Silicon, ADIA subsidiary, and others, will accelerate AI processor power solutions growth and tech development.

Earthmover PBC secures $7.2M seed round — New York-based geospatial and climate software firm, led by Lowercarbon Capital, will use funds to enhance its AI platform for analyzing petabyte-scale climate and weather data.

Somos Hijolusa gains investment from Mendibea & Llapan — Spanish agri-food group sees ProA Capital reduce stake from 50% to 25%; deal supports revenue growth to €500M in five years.

Vytex gets backing from Brookside Capital — Maryland vinyl windows and doors manufacturer receives subordinated debt and equity to expand footprint and strengthen market position.

Compass + Anywhere Real Estate Merger
All-stock deal creating a $10B residential platform combining Compass’ tech with Anywhere’s global network and 340,000+ agents. Adds $1B+ in franchise/title revenue; $225M+ in expected synergies.

Arada Acquires 75% of London’s Regal
UAE-based Arada invests $680M for a 75% stake in Regal, now rebranded Arada London. Marks UK entry and accelerates delivery of 10,000-unit pipeline.

Equus Acquires Maryland Industrial Portfolio
Six-building Upper Marlboro, MD portfolio purchased for $102.6M from Mapletree. Cushman & Wakefield advised the seller.

FPA Multifamily Buys Baltimore Apartments
Two Baltimore apartment buildings acquired for $73M; HUD loan assumed. Berkadia represented the seller, Benefit Street Partners.

IDI Logistics Adds Phoenix Industrial Asset
5.2-acre Phoenix industrial property acquired for $20M. Features 32-ft clear height, 12 docks, 140-ft truck court; CBRE advised both parties.

Tradewind Capital Expands in Honolulu
Two parcels in Ala Moana purchased for $17.7M (former dairy site). Seller was Twenty Lake Holdings; originally bought for $24.1M.

Ultimate Realty Sells Rivian Service Center
Orlando EV service center sold for $16.8M to Automotive Properties REIT. 6.44-acre net-leased site key for Rivian operations; JLL represented seller.

Dunbar Acquires Irwindale Distribution Park
Multi-tenant industrial park bought for $10M; 56% occupied. Voit represented both buyer and seller.

Clarion Partners Sells Kansas City Light Industrial Portfolio
Seven-building portfolio across three Johnson County business parks sold to L&B Realty Advisors and Block Real Estate; JLL represented Clarion.

Morgan Properties Expands in Upstate NY
328-unit Country Manor Apartments acquired in Webster, NY; price undisclosed. Endeavor Real Estate Group brokered the deal.

Venture One + Kovitz Acquire Industrial Property in Villa Park, IL
Fully leased industrial building with dock, drive-in door, and 0.25-acre outdoor storage purchased via VK Industrial VII LP.