Term Sheet — Wednesday, May 16 – 学期表-星期三,5月16日

By

Polina Marinova

May 16, 2018

CRYPTO UNICORN

Good morning, Term Sheet readers.

A few readers have asked me why I sometimes write about cryptocurrencies and the blockchain. (Cheers to the Term Sheet reader who said: “I’m tired of this crap.”) While I empathize with that sentiment, here’s the reason: Traditional venture capitalists are watching the space closely and many partners have been incredibly thoughtful about making their crypto play (see: Venrock).

But another reason is that this space is getting bigger, blockchain-focused companies are raising serious amounts of capital (yes, through traditional VC rounds), and some startups are quietly turning into unicorns.

While no one was looking, Circle raised $110 million in funding at a nearly $3 billion valuation — that’s more than six times what it was worth in 2016. The deal comes just a few months after Circle purchased Poloniex, a Boston-based cryptocurrency exchange, for roughly $400 million. Bitmain, the biggest Bitcoin mining company in China, led the round, and was joined by investors including IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group, Pantera, Blockchain Capital, and Tusk Ventures.

As my colleague Robert Hackett notes, the investment has linked two of the biggest cryptocurrency companies from the world’s two biggest markets.

IN OTHER RELATED NEWS: CityBlock Capital is a New York City-based venture capital platform issuing security tokens backed by equity in startups. It announced today NYCQ, a $20 million tokenized venture fund for investment into NYC startups. The company will source capital globally and allocate it to local investors. “Startups are seeking access to capital markets earlier in their life-cycles through token offerings, and there’s increased demand for liquidity among institutional investors,” said managing partner Rob Nance.

What is a tokenized venture fund, you may ask? Stay tuned as I will be publishing an explainer to tokenized securities & what they mean for venture capital and private equity this Friday.

IN OTHER UNRELATED NEWS: In a record NFL deal, hedge fund manager David Tepper has agreed to buy the Carolina Panthers from team founder Jerry Richardson, for a whopping $2.2 billion. The price tag is the most ever paid for an NFL franchise, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014. Read more.

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THE LATEST FROM FORTUNE…

• The Supreme Court Killed a Prohibition on Sports Betting. Now Let the Mergers Begin

• SoftBank’s Founder Has Plans for Another Ginormous Tech Investment Fund

• Air France-KLM Thinks Having 3(!) CEOs Is a Great Idea (by David Meyer)

• Lyft Follows Uber in Ending Forced Arbitration For Sexual Harassment Claims (by Kirsten Korosec)

VENTURE DEALS

Lulus, a Chico, Calif.-based digitally native apparel brand for women, raised $120 million in funding from IVP.

Auth0, a Bellevue, Wash.-based Identity-as-a-Service (IDaaS) company, raised $55 million in Series D funding. Sapphire Ventures led the round, and was joined by investors including World Innovation Lab, Bessemer Venture Partners, Trinity Ventures, Meritech Capital Partners, and K9 Ventures.

MemSQL, a San Francisco-based provider of real-time databases for transactions and analytics, raised $30 million in Series D funding. Investors include GV, Glynn Capital, Accel, Caffeinated Capital, Data Collective, and IA Ventures.

Aircall, a Paris-based provider of software for startups and small businesses, raised $29 million in Series B funding. Draper Esprit led the round, and was joined by investors including Balderton Capital, NextWorld Capital, eFounders, and Newfund.

simplesurance, a Berlin-based smart insurance services platform provider, raised $24 million in Series C funding. Allianz led the round, and was joined by investors including Rheingau Founders and Rakuten Capital.

Vesper, a Boston-based advanced sensor company, raised $23 million in Series B funding. American Family Ventures led the round, and was joined by investors including Accomplice, Amazon Alexa Fund, Baidu, Bose Ventures, Hyperplane, Sands Capital, Shure, Synaptics and ZZ Capital.

KeyedIn, a Minneapolis-based provider of project management software, raised $15 million in Series C funding. Arrowroot Capital led the round.

BriteCore, a Springfield, Mo.-based insurance software company, raised $13 million in funding from Radian Capital.

Alloy.ai, a digital supply chain platform that connects consumer goods companies directly to end-consumer demand, raised $12 million in Series A funding. Menlo Ventures led the round, and was joined by investors including 8VC.

Beautiful.AI, a San Francisco, Calif.-based company that uses artificial intelligence to automate the visual design process, raised $11 million in Series B funding. Trinity Ventures led the round, and was joined by investors including Shasta Ventures and First Round Capital.

PriorAuthNow, a Columbus, Ohio-based platform for connecting the healthcare landscape using automated prior authorization solutions, raised $10.5 million in Series A funding. BIP Capital led the round, and was joined by investors including NCT Ventures and Detroit Venture Partners.

ShotTracker, a Merriam, Kansas-based basketball technology that captures stats and analytics in real-time, raised $10.4 million in Series A funding. Ward.Ventures led the round, and was joined by investors including Greycroft, Elysian Ventures, KC Rise Fund, Irish Angels and SeventySix Capital.

BrainQ, an Israel-based digital therapeutics company, raised $8.8 million in funding. Investors included Qure Ventures, OurCrowd.com, Norma Investments and IT-Farm.

DashDash, a Berlin-based developer of software solution that enables its users to create web apps, raised $8 million in Series A funding. Accel led the round, and was joined by investors including Cherry Ventures and Atlantic Labs.

Cambridge Blockchain Inc, a Cambridge, Mass.-based developer of blockchain-based identity management software, raised $7 million in Series A funding. HCM Capital led the round, and was joined by investors including Partech and Digital Currency Group.

OspreyData, a Houston, Texas and Orange County, Calif.-based provider of machine-learning-based predictive analytics platform for the oil and gas sector, raised $5 million in Series A funding. Houston Ventures led the round.

Thryve, a provider of microbiotics and microbiome testing, raised $1.4 million in funding. Investors include PivotNorth Capital, Unilever Ventures, Darling Ventures, Candela Paramount, Abstract Ventures and Joyance Partners.

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HEALTH AND LIFE SCIENCES DEALS

Ansun BioPharma, a San Diego-based developer of anti-viral biologic therapeutics to combat severe viral respiratory tract infections, raised $85 million in Series A funding. Sinopharm Healthcare Fund and Lilly Asia Ventures led the round, and was joined by investors including Lyfe Capital, Yuanming Capital, Matrix Partners China, 3e Bioventures Capital, Oceanpine Capital, VI Ventures and Joincap Investment.

Genoox, an Israel-based genomic analysis company, raised $6 million in funding. Triventures led the round, and was joined by investors including Inimiti Capital and Glilot Capital Partners.

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PRIVATE EQUITY DEALS

O2 Investment Partners invested in 1 Priority Environmental Services, a provider of asbestos abatement and related environmental services. Financial terms weren’t disclosed.

O2 Investment Partners invested in EMEX LLC, a Houston-based energy-focused services provider. Financial terms weren’t disclosed.

The KELA Group, an Israel-based provider of advanced cyber intelligence software and solutions, raised $50 million from Vector Capital.

International Market Centers, which is backed by Blackstone and Fireside Investments, agreed to acquire AmericasMart, an Atlanta-based wholesale marketplace that hosts trade markets and trade shows. Financial terms weren’t disclosed.

NovaQuest Capital Management LLC acquired a majority of Clinical Ink, a Winston Salem, N.C.-based provider of clinical research technology. Financial terms weren’t disclosed.

DCP Capital agreed to invest in Venus Medtech, a China-based developer of heart valves. Financial terms weren’t disclosed.

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IPOs

Iterum Therapeutics, a Dublin-based firm for drug-resistant bacterial infections, said it plans to raise $79.5 million in an IPO of 5.3 million shares priced between $14 to $16 apiece. The firm posted revenue of $508,000 in 2017. Advent Life Sciences (8.1% pre-offering), Arix Bioscience Holdings (8.9%), and Canaan (15.7%) back the firm. Leerink Partners and RBC Capital Markets are underwriters in the deal. It plans to list on the Nasdaq as “ITRM.” Read more.

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EXITS

EQT agreed to sell HTL-Strefa SA, a Poland-based medical device company, to Investindustrial. Financial terms weren’t disclosed.

Palladium Equity Partners sold the parent of Jordan Health Services, a home care provider, to Kelso & Company and Blue Wolf Capital Partners.

SunTx Capital Partners sold Carolina Beverage Group, a Mooresville, N.C.-based operator of a co-packing producer, to Brynwood Partners. Financial terms of the transaction were not disclosed.

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FIRMS + FUNDS

Silverton Partners, an Austin-based venture capital firm, raised $108 million for its fifth fund.

Lerer Hippeau, a New York-based venture capital firm, raised $60.6 million for its second “select fund” for follow-on investments.

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PEOPLE

Greylock Partners named Sarah Guo a general partner.

Pitango Venture Capital appointed Guy Ezekiel as a general partner. Previously, he was a venture partner at Pitango.

Steve Sachman joined Benefit Street Partners as a managing director in the private debt group.

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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.

Polina Marinova 2018年5月16日 密码独角兽早上好,学期表读者。有几位读者问我为什么有时写关于隐秘现象和封锁链的文章。(对读者来说,“我厌倦了这个废话”这个词是喝彩的。)当我同情这种情绪的时候,原因是:传统的风险投资家正密切关注着这个空间,许多合作伙伴都对他们的密码游戏进行了非常周到的思考(参见:VeRooCK)。但另一个原因是,这个空间越来越大,BixLink集中公司正在筹集大量资金(是的,通过传统VC圈),一些初创公司悄然变成独角兽。在没有人关注的情况下,Calk以近30亿美元的估值筹集了1亿1000万美元的资金,这是2016的价值的六倍多。这项交易是在圆圈购买了Primix,一个总部位于波士顿的CurkururrExchange,短短4亿个月后达成的。Bitmain,在中国最大的比特币采矿公司,带动了一轮,是由投资者包括IDG资本、加入布雷耶资本,一般催化剂,加速,数字货币集团,Pantera和图斯克blockchain资本,合资企业。正如我的同事Robert Hackett所指出的,这项投资已经把两个最大的加密公司与世界上最大的两个市场联系起来。在其他相关新闻中,CITYBACK Capital是一家总部位于纽约的风险投资平台,发行由创业公司股权支持的安全令牌。今天宣布,NYCQ是一个价值2000万美元的风险投资基金,用于投资纽约初创公司。该公司将在全球范围内筹集资金,并将其分配给当地投资者。“初创公司通过令牌产品在生命周期中寻求资本市场的进入,而机构投资者对流动性的需求也在增加,”管理合伙人Rob Nance说。你可能会问,什么是令牌化的风险基金?请注意,我将在星期五公布一个解释证券化的解释,以及它们对风险投资和私募股权的意义。在其他无关的新闻中,对冲基金经理David Tepper在一份创纪录的NFL交易中,同意从团队创始人Jerry Richardson购买卡罗莱纳黑豹,价格高达22亿美元。这个价格是NFL特许经营中最高的一笔,超过了Pegula家族在2014买下水牛账单的14亿美元。多读。广告财富的最新…最高法院杀死了一个禁令关于体育博彩的思考。现在,让并购开始吧!软银行PAP60300 7QTE创始人有计划为另一个高科技投资基金;公牛;法航KLM认为有3(!)首席执行官是一个伟大的想法(由David Meyer)和牛;LyFT遵循Uber结束强迫性骚扰索赔仲裁(由Kirsten Korosec)风险交易 LuLUS,一个总部位于Calif.的奇科数字本土服装品牌,为IVP筹集了1亿2000万美元的资金。Bo.Auth0,一个贝尔维尤,基于华盛顿的身份识别服务(IDAAS)公司,在D系列融资中筹集了5500万美元。蓝宝石创投领导了这一轮,并加入了投资者,包括世界创新实验室,贝塞麦风险合作伙伴,三一风险投资公司,MeliTeCapital Partners,和K9风险投资公司。MySQL,一个基于三藩的实时交易和分析数据库提供商,在D系列基金中筹集了3000万美元资金。投资者包括GV、GLYN Capital、AccEL、含咖啡因资本、数据集合和IA风险投资。总部位于巴黎的创业公司和小企业软件提供商AcAdLead在B系列融资中筹集了2900万美元。德雷珀ESPRIT领导了这一轮,并加入了包括Baldton Capital、NeXWorksCapital、EfFaules和NeWFund的投资者。一家总部位于柏林的智能保险服务平台提供商SimuleSururn在C系列融资中筹集了2400万美元。安联领导了这一轮,并加入了包括莱茵加创始人和乐天资本在内的投资者。波士顿一家先进的传感器公司,在B系列融资中筹集了2300万美元。美国家族企业引领了这一轮,并加入了包括共犯、亚马逊Alexa基金、百度、百色风险投资公司、超级飞机、金沙资本、舒尔、Switple和ZZ资本在内的投资者。总部设在明尼阿波利斯的项目管理软件提供商KEYDEIN在C系列融资中筹集了1500万美元。箭头资本引领了这一轮。总部位于Mo.的斯普林菲尔德保险软件公司BrigeCor从瑞安资本筹集了1300万美元的资金。AI是一个数字供应链平台,它将消费品公司直接连接到最终消费者需求,在A系列融资中筹集了1200万美元。Munro创投引领了这一轮,并加入了包括8VC在内的投资者。Beautiful.AI,一家总部位于Calif.的三藩公司,利用人工智能来自动化视觉设计过程,在B系列融资中筹集了1100万美元。三一创投引领了这一轮,并加入了包括沙斯塔风险投资和首轮资本在内的投资者。Brand;PrimoAuthNoW,一个哥伦布,俄亥俄的平台,用于使用自动的事先授权解决方案连接医疗保健景观,筹集了1050万美元的A系列资金。BIP-Capital引领了这一轮,并加入了包括NCT风险投资公司和底特律风险投资公司在内的投资者。Br.StoTrAkter,一个总部位于堪萨斯的篮球技术,实时捕捉统计数据和分析数据,筹集了1040万美元的A系列资金。风险投资公司领导了这一轮,并加入了包括GrycRoFT、Eclipse风险投资公司、KC上升基金、爱尔兰天使和七十六资本在内的投资者。一家总部位于以色列的数字治疗公司,筹集了880万美元的资金。投资者包括Queor风险投资公司、UrCuuldCo、诺玛投资和IT农场。总部位于柏林的DASDASH是一家基于软件开发的软件开发商,它的用户可以创建Web应用程序,从而筹集了800万美元的A系列资金。AcEL领导了这一轮,并加入了包括樱桃投资公司和大西洋实验室的投资者。剑桥BaskLoad公司是一家总部位于剑桥的基于BaseCu链的身份管理软件开发商,在A系列融资中筹集了700万美元。HCM资本引领了这一轮,并加入了包括PARTECH和数字货币集团在内的投资者。OSPRYDATA,休斯敦,德克萨斯和橙县,基于Calif.的基于机器学习的石油和天然气行业的预测分析平台提供商,在A系列融资中筹集了500万美元。休斯敦创投引领了这一轮。TyyVE是微生物学和微生物测试的提供者,筹集了140万美元的资金。投资者包括PioTouthCapital、联合利华风险投资公司、达林风险投资公司、坎德拉派拉蒙公司、抽象风险投资公司和乔伊斯合作伙伴。

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Term Sheet -- Wednesday, May 16 - 学期表-星期三,5月16日

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