TrueBridge raises $1.6B; Novo Holdings to buy stake in Single Use Support

TOP NEWS IN PRIVATE EQUITY

– TrueBridge Capital Partners LLC raised $1.6 billion in commitments for five investment vehicles including TrueBridge Capital Partners Fund VIII, TrueBridge Seed & Micro-VC II, TrueBridge Direct Fund III, TrueBridge Secondaries I and TrueBridge Blockchain I. The funds will focus on venture and technology companies.

– Novo Holdings A/S agreed to acquire a majority controlling stake in Single Use Support GMBH, a life science tools company. The transaction is subject to regulatory approvals.

➤ Global venture capital deal value, volume decline in April

Venture capital funding rounds in April saw a year-over-year decrease in transaction value, falling to $17.20 billion compared to $19.12 billion in April 2023, according to data from S&P Global Market Intelligence.

READ MORE about the liquidity crunch and the fallout for the financial sector in our new Issue in Focus.

DEALS

– FalconPoint Capital Partners LLC made an investment of over $250 million in Jennmar Corp. Jenmar develops ground control products for industrial and commercial purposes.

EXITS

– Main Capital Partners BV exited investment in Optimizers B.V., supply chain and logistics software solutions provider, via sale to France-based Orisha.

– An investor group including ROTH Capital Partners LLC and Pala Investments Ltd. entered into a definitive agreement to sell Battery Future Acquisition Corp. to Class Over Inc., according to S&P Global Market Intelligence data. The transaction is expected to complete in the second half of 2024.

– An investor group including Bpifrance Investissement SAS and Finovam Gestion sold mobile applications developer Hootside to StayinFront Inc.

VENTURE CAPITAL

– Polymarket, also doing business as Blockratize Inc., raised $70 million for its two funding rounds, series A and B, led by The Founders Fund LLC and General Catalyst Group Management LLC. Existing investors including 1confirmation and Parafi Capital LP, Ethereum, Dragonfly and Eventbrite Inc.'s co-founder Kevin Hartz, Airbnb Inc.'s co-founder Joe Gebbia and Polychain Capital LP also participated.

– Memoir Inc., also doing business as Chapter, raised $50 million in its series C funding round led by XYZ Venture Capital. Existing investors including Narya Capital, Addition LP, Susa Ventures Management LLC and Maverick Ventures.

– Smarter Dx Inc. raised $50 million in its series B funding round led by Transformation Capital Partners LP. Existing investors including Bessemer Venture Partners, Flare Capital Partners and Floodgate Fund LP also participated.

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