KKR & Co. received $19B worth of commitments toward its North America-focused Fund XIII. The fundraise is the highest yet for the firm and includes a $2B capital contribution from KKR’s balance sheet. Reportedly, the oversubscribed fund had received over $24B in commitments from investors before closing the fund at the lower amount. The fund will focus on private equity investments in the North American region. More: - KKR’s previous largest fundraise stood at $17.6B, which it raised for its 2006 fund.
- With the fresh capital infusion, KKR’s assets under management now total over $90B.
- At the end of last year, its last two funds, KKR North America Fund XI and KKR Americas XII Fund, registered a cumulative net IRR of 25.1%, with the latter registering a 41.9% net return.
- KKR raised $13.9B in 2017 towards its XII Fund.
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Energy Capital Partners has raised ~$3B so far toward its fifth flagship fund against an initial target of $4B, per sources close to The Wall Street Journal. The firm will focus on energy infrastructure investments through the ECP V LP fund. The fund may see investments up to $6B. More: - Energy Capital Partners last raised $3.3B for its fourth flagship fund, which closed in 2020.
- The fund closed short of its initial target of $6B, although it did receive $3.5B worth of co-investment later on.
- Its portfolio of companies includes energy provider Calpine Corp., sustainable energy generator Terra-Gen LLC, scrap-tire recycler Liberty Tire Recycling LLC, and restaurant oil disposal service company Restaurant Technologies Inc.
Zoom out: - Infrastructure-focused funds have accumulated $69.74B in the first quarter of this year.
- Per Preqin Ltd, the amount amassed this year is over three times the $23.75B accumulated in the same period in 2021.
- Preqin also believes that approximately $198B is being sought by 357 infrastructure funds.
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California-based high-resolution earth imagery company Capella Space raised $97M in funding. The Series C financing round was led by NightDragon. The company provides synthetic aperture radar (SAR) high-resolution imagery and data to various industries via its seven satellites currently in orbit. Capella’s USP is capturing images circumventing poor weather conditions such as clouds, fog, smoke, and others. More: - The company intends to use the proceeds to further develop its analytics capabilities, provide additional product offerings, and launch new satellites.
- DCVC and Cota Capital participated in the funding.
- Capella claims to have doubled its revenue in the last 12 months, with founder and CEO Payam Banazadeh forecasting revenue to triple in the next 12 months.
- Since its founding in 2016, the company has raised $190M in capital to date.
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Proptech platform TheGuarantors raised $50M in Series C financing led by Portage Ventures. The startup serves as a co-signer and guarantor to landlords on lease deals. The company plans to launch new financing and insurance products, hire more workforce, and bolster its marketing efforts with the incoming funds. More: - TheGuarantors is focusing its efforts on serving an estimated total addressable market of $10B in the U.S., comprising over 5 million people struggling to secure rental agreements this year.
- Other funding round participants include Kensington Capital Partners, Arch Capital Group, Roosh Ventures, and Alven.
- The firm has raised a total of $76.7M, consisting of an $11.7M Series A in 2017 and a $15M Series B in 2019.
- Alven and White Star Capital co-led the Series A, while the latter was led by Global Founders Capital.
- Reportedly its revenue grew three times in the past year.
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Digital avatar-based AI video creation company Hour One raised $20M in Series A funding. Insight Partners led the financing. The company’s AI-assisted digital twin creation process helps companies to deploy a virtual avatar in front-end client-facing roles such as a virtual receptionist, HR representative, salesperson, and others. More: - Incoming funds will be used to accelerate product development.
- It last secured $5M in seed funding in late 2020.
- The company has recently partnered with NBCUniversal, DreamWorks, Cameo, and Berlitz, with the latter leveraging Hour One’s software to create videos for their language training platform.
- Other funding participants include Galaxy Interactive, Remagine Ventures, Kindred Ventures, Semble Ventures, Cerca Partners, and Digital-Horizon.
Zoom out: - Per Emergen Research, the digital twin market is forecasted to grow to $527.6B by 2030.
- In 2020, the market was worth $10B.
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California-based healthcare intelligent voice solution Syllable secured $40M in Series C financing led by TCV. Incoming funds will help develop its AI system for deployment in health system call centers and medical practice offices. The company’s AI assistant can help schedule appointments, connect with providers, and refill prescriptions. More: - Existing investors Oak HC/FT, Section32, and Verily participated in the funding.
- Syllable has secured $82M in funding to date, including a $28M Series B funding round in June 2021.
- The company’s platform helped answer over 90% of calls at Houston Methodist’s COVID-19 hotline.
- It claims that its clients have seen a 2x to 5x return on its investment.
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- Tiger Infrastructure Partners closed its third flagship fund at its hard cap of $1.25B against an initial target of $750M. The company has already invested in five companies through this fund: Summit Carbon Solutions, NorthLink Aviation, 11:11 Systems, Qwello, and Forsa Energy.
- NFT marketplace OpenSea acquired Gem for an undisclosed amount. The acquisition of the NFT aggregator platform will improve OpenSea's pro-user experience.
- Online seafood marketplace Rooser reeled in $23M in financing to reduce seafood wastage. The Series A funding was led by Index Ventures with participation from Google Ventures and Point Nine Capital.
- Zenda, the UAE-based school payment platform, raised $9.4M in seed funding. STV, COTU Ventures, Global Founders Capital, and VentureSouq participated in the funding. The startup intends to expand operations to Egypt with the incoming funds.
- Live events streaming platform Vaunt Inc. raised $5M in Series A financing from InfiniteWorld, Elysian Park Ventures, True Culture Fund, and others.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | 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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