Term Sheet — Thursday, May 10 – 学期表-星期四,5月10日

Term Sheet -- Thursday, May 10 - 学期表-星期四,5月10日

By

Polina Marinova

May 10, 2018

BIG BUCKS

Good morning, Term Sheet readers.

Robinhood, a zero-commission stock trading platform, has officially closed its monster round. It looks like the company raised even more than what was previously reported.

When I first saw the numbers in an email, I responded with a simple but necessary & appropriate: “holy crap.” Here are the final numbers. Robinhood raised $363 million in Series D funding at a $5.6 billion valuation, making it one of the highest-valued fintech companies at the moment. DST Global led the round, and was joined by investors including Kleiner Perkins, Sequoia, Capital G, and Iconiq.

I’ve been following Robinhood since Fortune featured the company and its founders Vlad Tenev & Baiju Bhatt in 2015. At the time, the company had raised $16 million in total funding from Index Ventures and Andreessen Horowitz. Two years and hundreds of millions dollars later, Robinhood continues to expand its footprint. The company told Term Sheet that it has doubled its user base from 2 million to 4 million people and surpassed $150 billion in transaction volume since April 2017.

The fresh infusion of capital comes on the heels of Robinhood’s announcement that it’s adding a cryptocurrency trading feature to its platform. In January, the company said it would allow customers to buy tokens using its same streamlined, no-commission approach it offers for stocks.

Robinhood plans to deploy the new capital toward expanding its product lineup, investing in its tech infrastructure, and recruiting more engineers dedicated to its crypto business.

Read more at Fortune.

WINDFALL: Tiger Global Management, SoftBank, and Accel are the biggest winners to emerge from the Walmart-Flipkart acquisition. Walmart confirmed that it will invest $16 billion into the India-based online retailer for 77% of the company — a deal that values Flipkart at $21 billion.

Here are the winners:

— Tiger Global Management, a New York-based, low-profile investment firm, had doubled down on its investment in Flipkart more than any other investor. It made about $3 billion after investing a total of $1 billion in the company over the years. Tiger Global began backing Flipkart in 2009 with an initial investment of just $9 million.

— SoftBank, through Masayoshi Son’s SoftBank Vision Fund, invested roughly $2.5 billion into Flipkart last year, and its stake is now worth about $4 billion. That’s a pretty quick return.

— Accel: Accel, a Palo Alto based venture capital firm, has been holding on for 10 years. The firm invested $800,000 back in 2008 when Flipkart was operating with an 8-person team. (It now employs more than 30,000 people, and it is the largest e-commerce company in India.) Accel invested approximately $160 million over several rounds, and its position in the company is now worth about $1.1 billion.

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THE LATEST FROM FORTUNE…

• China Has Sentenced Anbang’s Wu Xiaohui to 18 Years in Prison for $10 Billion Fraud

• Novartis Put Money In Michael Cohen’s Cookie Jar. Did It Get Any Cookies In Return? (by Clifton Leaf)

• Walmart Investors Anxious About Its $16 Billion Flipkart Deal (by Phil Wahba)

• Fox Is Buying 7 Sinclair-Owned Television Stations for $910 Million (by Emily Price)

…AND ELSEWHERE

Morgan Creek Blockchain Capital tokenized the equity of an Inc 500 company. How much do CEOs make? Mike Novogratz’s Galaxy Digital Capital Management and Bloomberg have launched a cryptocurrency index. Business hates Mexico’s presidential frontrunner — and he doesn’t care. Lawsuit says that McKinsey hid conflicts of interest from courts.

VENTURE DEALS

WeDoctor, a China-based online healthcare platform, raised $500 million in funding at a $5.5 billion valuation. AIA Company Ltd led the round, and was joined by investors including AIA Group Ltd and NWS Holdings Ltd. Read more.

Akili Interactive, a Boston and San Francisco Bay Area-based prescription digital medicine company, raised $55 million in Series C funding. Temasek led the round, and was joined by investors including Baillie Gifford, Amgen Ventures, M Ventures, JAZZ Venture Partners, Canepa Advanced Healthcare Fund and Brooklands Capital Strategies.

Life House, a New York-based operator of a boutique hotel company, raised $40 million in funding. Investors include Henley Investments, Global Founders Capital, Comcast Ventures and Trinity Ventures.

Perch, a New York-based marketplace for buying and selling homes, raised $30 million in Series A funding. FirstMark Capital led the round, and was joined by investors including Juxtapose and Accomplice.

Trussle, a U.K.-based digital mortgage broker, raised 13.6 million pounds ($16.2 million) in Series B funding. Investors include Goldman Sachs and BBVA.

Tailor Brands, a New York and Tel Aviv-based AI branding startup, raised $15.5 million in Series B funding. Pitango Venture Capital Growth Fund and British Armat Group led the round, and was joined by investors including Disruptive Technologies L.Pand Mangrove Capital Partners.

GrowGeneration Corp, a Denver, Colo.-based owner and operator of specialty retail hydroponic and organic gardening stores, raised $10 million in funding. Investors include Gotham Green Partners, Merida Capital Partners and Navy Capital.

Localize.city, a New York-based company that applies data analysis to the real estate market, raised $8 million in Series A funding. Investors include Avigdor Willenz and Zvi Limon.

Axiom Exergy, an industrial internet of things company, raised $7.6 million in Series A funding. GXP Investments and Shell Ventures led the round, and were joined by investors including WorldQuant Ventures, SV Tech Ventures, Meson Capital and Seabed VC.

Targetprocess, an Amherst, N.Y.-based provider of visual agile management solutions, raised $5 million in Series A funding. European Bank for Reconstruction and Development led the round.

Fairygodboss, a New York-based career community for women, raised $3 million in funding. GSV Acceleration led the round.

The Mom Project, a Chicago-based platform for enterprises to connect with experienced and diverse talent, raised $2.6 million in seed funding. Atlanta Seed Company led the round, and was joined by investors including OCA Ventures, BBG Ventures, IrishAngels, Wintrust Ventures and Engage VC.

Ample Foods, a San Francisco-based nutrition startup, raised $2 million in seed funding. Slow Ventures led the round.

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HEALTH AND LIFE SCIENCES DEALS

Escient Pharmaceuticals, a San Diego-based biotech company, raised $40 million in Series A funding. Investors include The Column Group, 5AM Ventures and Osage University Partners.

LyGenesis Inc, a Pittsburgh-based biotechnology company developing technology for organ regeneration, raised $3 million in Series A funding. The investor was Juvenescence Ltd.

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PRIVATE EQUITY DEALS

Red Ventures sold Caring.com, a San Mateo, Calif.-based senior care resources company, to a consortium of unnamed family office and private equity investors and digital marketing experts. Financial terms weren’t disclosed.

Cove Hill Partners agreed to invest in Gamma Technologies, a Westmont, Ill.-based provider of engineering simulation software. Financial terms weren’t disclosed.

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OTHER DEALS

Symphony Technology Group acquired Winshuttle Holdings LLC, a SAP-centric robotic process automation and data management platform provider. Financial terms weren’t disclosed.

Canadian Tire Corp Ltd agreed to buy the company that owns and operates the Helly Hansen, a Norway-based sportswear and workwear brands company, for $985 million Canadian dollars ($770 milion). Ontario Teachers’ Pension Plan was the seller.

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IPOs

AXA Equitable Holdings, the U.S. insurance arm of France’s AXA, plans to raise $2.75 billion in an IPO of 137.25 million shares priced at $20 apiece, below its previously stated range between $24 to $27. The firm plans to list on the NYSE. Read more.

Meili, the Chinese fashion e-commerce platform, is reportedly seeking an U.S. IPO of $500 million later this year. Tencent backs the firm. Morgan Stanley, Credit Suisse, and China Renaissance are underwriters. Read more.

Evelo Biosciences, a Cambridge, Mass.-basd biotech focused on the gut, raised $85 million in an IPO of 5.31 million shares priced at $16 a share, at the mid-point of its $15 to $17 range. Flagship Pioneering (68% pre-offering) and Fidelity (7%) back the firm. Morgan Stanley, Cowen, and BMO Capital are underwriters in the deal. The firm plans to list on the Nasdaq as “EVLO.” Read more.

SurveyMonkey, the U.S.-based survey platform, has reportedly tapped J.P. Morgan to lead its IPO potentially slated for later this year. Read more.

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EXITS

Recruit Holdings Co (TSE:6098) agreed to buy Glassdoor Inc, a Mill Valley, Calif.-based operator of online jobs site, for $1.2 billion. Glassdoor had raised approximately $204.5 million from investors including Tiger Global Management, Google Capital, and T. Rowe Price, and Benchmark. Read more.

OMERS Private Equity agreed to buy Alexander Mann Solutions, a provider of talent acquisition and management solutions, from New Mountain Capital for 820 million pounds ($1.1 billion).

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FIRMS + FUNDS

EQT, a Sweden-based private equity and venture capital firm, raised $800 million for its third mid-market Asia fund.

Fifth Wall Ventures, a real estate-focused venture capital firm, raised $60 million toward a $200 million Fifth Wall Ventures Retail Fund, according to a filing with the SEC.

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PEOPLE

Jacques Perreault joined Brightspark as a senior partner.

Manpreet Bagga joined CircleUp Growth Partners as a partner at CircleUp Growth Partners. Previously, she was at TA Associates.

Steven Paget will join Angelo, Gordon as a managing director and portfolio manager of European performing credit.

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Polina Marinova produces Term Sheet, and Lucinda Shen compiles the IPO news. Send deal announcements to Polina here and IPO news to Lucinda here.

WPA6021602IMG2018年5月10日波琳娜马里诺娃大笔钱 早上好,学期表读者。罗宾汉,一个零佣金股票交易平台,已经正式关闭了它的怪圈。看起来这家公司筹集的资金比之前报道的还要多。当我第一次看到电子邮件中的数字时,我用一个简单而必要的适当的回答:“神圣的垃圾”。这是最后的数字。罗宾汉以56亿美元的估值筹集了3亿6300万美元的D系列融资,使其成为目前价值最高的芬特公司之一。DST Global引领了这一轮,并加入了包括克莱纳-帕金斯、红杉、资本G和Iconiq在内的投资者。我一直追随罗宾汉,因为财富的特点是公司和创始人Vlad Tenev和白鞠巴特在2015。当时,该公司已经从Invest创业和Andreessen Horowitz筹集了1600万美元的资金。两年后,数亿美元,罗宾汉继续扩大其足迹。该公司向员工表示,自2017年4月以来,其用户基数从200万人增加到400万人,交易额超过了1500亿美元。资本的新注入源于罗宾汉宣布将其加密交易特性添加到其平台上。在一月,该公司表示,它将允许客户使用同样的精简、无佣金的方式购买代币。罗宾汉计划将新资本用于扩大其产品阵容,投资其技术基础设施,并招募更多致力于其密码业务的工程师。阅读更多的财富。意外收获:老虎全球管理、软银和AccEL是沃尔玛FLIKART收购的最大赢家。沃尔玛证实,它将向印度在线零售商投资160亿美元,占公司总销售额的77%。这里是赢家:——老虎全球管理公司,一家总部位于纽约的低调投资公司,比任何其他投资者都对FrimkART的投资翻了一番。多年来,该公司总共投资了10亿美元,赚了约30亿美元。Tiger-Global在2009开始支持FLIPKART,初始投资仅为900万美元。-软银,通过Masayoh Son的软银视觉基金,去年投资了FLIKART约25亿美元,现在其价值约40亿美元。这是一个相当快的回报。–Accel: AcEL,一家总部位于帕洛阿尔托的风险投资公司,已经成立了10年。当FrkkART与8人团队合作时,该公司在2008投资了800000美元。(现在它雇佣了超过30000人,它是印度最大的电子商务公司)AccelEnter在几轮投资大约1亿6000万美元,它在公司的地位现在价值约11亿美元。广告财富的最新… •中国anbang’s吴晓辉判处入狱18年100亿美元的欺诈•诺华公司把钱放在Michael Cohen的饼干罐。它得到任何饼干作为回报?(克利夫顿·Leple)和沃尔玛的投资者担心160亿美元的FLIFKART协议(由Phil Wahba)和Box;福克斯正在购买7家辛克莱拥有的电视台(Emily Price)WPA603015QTEL和9亿1000万美元。El摩根Celk Band Stand Capital对Inc 500公司的股权进行了标记。CEO们赚了多少钱?Mike Novogratz的Galaxy Digital Capital Management和彭博社已经推出了一个隐秘性指数。商业憎恨墨西哥总统的领先者——他并不在乎。诉讼称麦肯锡隐藏了法院的利益冲突。风险交易•wedoctor,一只中国的基础;NE医疗平台以55亿美元的估值筹集了5亿美元的资金。友邦保险有限公司领导了这一轮,并加入了包括友邦保险集团和NWS控股有限公司的投资者。和AkiLi互动,一个波士顿和旧金山湾地区的处方数字制药公司,筹集了5500万美元的C系列资金。淡马锡领导了这一轮,并加入了投资者,包括Baillie Gifford,安根风险投资公司,M创投,爵士乐风险合作伙伴,坎培亚高级保健基金和布鲁克兰德资本战略。BulyHouse,一家总部位于纽约的精品旅馆公司运营商,筹集了4000万美元的资金。投资者包括亨利投资、全球创始人资本、康卡斯特风险投资公司和三位一体风险投资公司。总部位于纽约的一个买卖房屋的市场,筹集了3000万美元的A系列资金。FiestMapCapital引领了这一轮,并加入了包括并列和共犯在内的投资者。总部位于英国的数字抵押贷款经纪公司Trulsle在B系列融资中筹集了1360万英镑(1620万美元)。投资者包括戈德曼萨克斯和BBVA。Tor品牌,一个基于纽约和特拉维夫的AI品牌创业公司,在B系列融资中筹集了1550万美元。PITANGO风险投资增长基金和英国ARMAT集团引领了这一轮,并加入了包括颠覆性技术L. P.和红树林资本伙伴在内的投资者。Bo.SufGuangGeon公司,一个位于Colo.的丹佛,拥有专业零售水耕和有机园艺店的所有者和运营商,筹集了1000万美元的资金。投资者包括GothAM Green Partners、美利达资本合伙人和海军资本。位于纽约的一家公司,将数据分析应用于房地产市场,筹集了800万美元的A系列资金。投资者包括Avigdor Welnz和ZVI Limon。一家工业物联网公司的公理火用,筹集了760万美元的A系列资金。GXP投资和壳牌创投引领了这一轮,并加入了包括WordQualdAvestor、SV TealEngveston、Meon Capital和海床Vc在内的投资者。Bug;Talk Prand,一个位于N.Y. Amherst的视觉敏捷管理解决方案提供商,筹集了500万美元的A系列资金。欧洲复兴开发银行领导了这一轮。Fairygodboss,一个总部位于纽约的妇女职业社区,筹集了300万美元的资金。GSV加速带动了这一轮。这是一个基于MBA项目的平台,它是芝加哥企业与经验丰富和多样化人才联系的平台,筹集了260万美元的种子资金。亚特兰大种子公司引领了这一轮,并加入了包括OCA风险投资公司、BBG风险投资公司、IrSales、WiTr信托风险投资公司和VC的投资者。一家总部位于三藩的营养品公司丰盛食品公司筹集了200万美元。

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Term Sheet -- Thursday, May 10 - 学期表-星期四,5月10日

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