Kraken Ventures has raised $65M for an early-stage fund that will invest in crypto, fintech, and emerging technology startups. The fund is backed by Kraken, the fourth largest crypto exchange platform. More: - Kraken Ventures has currently invested in Blockdaemon, Anchorage, and Mesari.
- The fund will invest in financial infrastructure, Web 3, decentralized finance (DeFi), AI, and ML companies targeting initial investments in the $500,000 to $2M range.
- The investment fund will be led by Kraken’s former head of corporate development, Brandon Gath.
- Kraken Ventures expanded into Europe following the appointment of Laurens De Poorter, who previously oversaw early-stage investments for Dawn Capital, as its head of operations.
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TPG, the Texas-based private equity group, has filed for an IPO with the SEC. The group has active investments in over 280 companies across 30 countries, with assets totaling over $109B. More: - The joint lead book-running managers for this deal are J.P.Morgan, Goldman Sachs & Co, Morgan Stanley, and TPG Capital BD.
- The firm was founded in 1992 by David Bonderman and Jim Coulter.
- TPG, an asset firm founded in San Francisco with over 12 offices worldwide, aims to be listed on the Nasdaq bearing the TPG ticker symbol.
- The asset management firm's portfolio includes investments in Airbnb, Burger King, Continental Airlines, Uber, Par Pharmaceuticals, McAfee, and many other companies.
- TPG's past buyouts include Texas utility Energy Future Holdings, casino business Caesars Entertainment, and Washington Mutual bank.
- Assets under TPG have grown from $60B in 2016 to $109B, with the company reporting profits of $1.7B against $4B in revenue this year.
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Dailpad, the AI-powered communications app, has raised $170M in a new round of funding led by ICONIQ capital. The funding round saw participation from Amasia, GV, OMERS Growth Equity, Work-Bench, Section 32, and T-Mobile Ventures. More: - The company is currently valued at $2.2B and is founded and led by Craig Walker.
- Dailpad has raised over $418M to date, including the recent funding.
- Funds from the latest round will be used for the development of Voice Intelligence (Vi) products and hiring people across functions as the company scales itself.
- Dailpad has recently expanded its presence to Australia, New Zealand, Japan, and EMEA and opened 11 offices globally.
- The communication software firm has 7,000 clients, including T-Mobile, WeWork, Netflix, Motorola, and Uber.
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Restore Hyper Wellness raised $140M in funding led by General Atlantic with participation from existing investor Level 5 Capital Partners. The company plans to use the funds to expand its presence and aims to open 100 stores in the next year. More: - Restore offers new age modalities to decrease inflammation, optimize sleep, boost energy, and defy signs of aging.
- Modalities include Cryotherapy, IV Drip, Mild Hyperbaric Oxygen Therapy, Red Light Therapy, Infrared Sauna, NAD+ IV Drip Therapy, etc.
- The company has a presence in over 115 locations across 34 states, with the goal of expanding coverage to 46 states by the end of 2022.
- 50 of its stores are slated to be opened under the Level 5 franchisee program, 15 of which are set to open in 2022.
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The Norwegian cryptocurrency analytics firm Dune Analytics is raising financing at a $1B valuation. Coatue Management is expected to participate in the fundraising. More: - Dune had recently raised $8M in Series A funding led by Union Square Ventures and backed by Redpoint Ventures and earlier backers Dragonfly Capital and Multicoin Capital.
- The firm provides data tracking of digital assets, including DeFi protocols and NFTs, and currently supports data query for four blockchains: Ethereum, Polygon, Optimism, and xDAI.
- Dune offers a free tier and a paid subscription starting at $390 per user.
Zoom out: - The crypto sector now consists of over 64 "unicorns," 39 of which have reached the status in this year alone.
- Nansen, a Singapore-based blockchain analytics firm, received $75M in funding after being valued at $750M.
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Valeas Capital Partners led a $70M Series B financing for Well Dot Inc. ("Well"), an AI-based health improvement platform. The funding saw participation from existing investors General Catalyst and partners of Hellman & Friedman. More: - Well combines AI, behavioral economic techniques, and human guidance to offer personalized health guidance.
- The company received prior funding, including a $25M seed funding in 2019 and $40M Series A funding in 2020.
- The current funding will be diverted towards scaling operations and functionality changes to its system.
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Quick Hits - Oracle is in talks to acquire Cerner, an electronic medical records company with a market valuation of $20B, for ~$30B.
- Oddlygood Global, a spinoff of Valio, one of Finlands’s top food companies, raised $28M from Mandatum Asset Management.
- Tiger Global led a $20M Series A funding in Fable, a social reading platform.
- ProEst, a cloud-based construction estimation solution, is being acquired for an undisclosed sum by Autodesk, with the transaction estimated to complete between late 2022 and early 2023.
- Tailwater Capital LLC portfolio company Freestone HoldCo LLC is leading a $20M funding round in Momentum Technologies, an electronic and battery waste recycling.
- U.K.-based small business communication firm Fuzey raised $4.5M in seed funding led by Nordic VC firm byFounders.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, Formula 1 lover, and a Licensed Pilot. He is also a part-time automobile and aviation fanatic, and a full-time introvert. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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