Friday, March 21, 2025

PE nets record $6B+ Boston Celtics deal

AI drives pharma biotools dealmaking; aircraft repair industry primed for PE takeoff; EQT seals $14.5B education pact; charting India's VC market
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March 21, 2025
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🏀 Bill Chisholm's PE consortium struck a record-setting deal to buy the Boston Celtics at an initial $6.1 billion valuation, the largest in NBA history. The two-part deal could ultimately push the franchise's worth to $7.3 billion, with Sixth Street Partners investing $1 billion. Read more

💸 CVC Capital Partners doubled down on plans to drastically expand its offering for high-net-worth individuals, aiming to expand its private wealth team to 60 by the end of the year. The Amsterdam-listed firm raised around $1.6 billion from private wealth clients last year. Read more

🧬 CRISPR and AI are unlocking new frontiers in plant biotech, from climate-resilient crops to identifying bioactive compounds, our latest analyst note explains. The segment has been resilient despite broader challenges in agtech: Plant biotech startups secured $1.2 billion in VC funding, a 78% rise year-over-year. Read the preview

Plus...
• EQT seals $14.5 billion education pact
Aircraft repair industry is primed for PE takeoff
• Charting India's VC market

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VC dealmaking in pharma biotools space shows mixed signals
The pharma biotools industry has been caught between contrasting trends. The sector recorded 59 deals in Q4, representing a more than 9% increase quarter-over-quarter, despite an over 30% decline in total deal value, according to our latest Emerging Tech Research.

VC dealmaking was dominated by breakthrough technologies including AI-driven drug discovery, synthetic biology and next-generation sequencing. Advanced tech led with over $287 million across 21 deals. Emerging tech booked more than $266 million for 22 deals, and mature tech notched $181 million across 16 pacts.
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EQT-led group seals $14.5B Nord Anglia deal with $5B+ investor windfall
(Catherine McQueen/Getty Images)
EQT has sold Nord Anglia Education to a new investor consortium for $14.5 billion, marking a strategic exit while retaining a stake through reinvestment from a newer fund.

Instead of pursuing an IPO, EQT opted for a "private IPO" approach, reflecting a growing PE trend of extending hold periods through continuation vehicles. Nord Anglia runs 80 international day and boarding schools across Asia, Europe and the Americas.
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Aircraft repair industry is primed for PE takeoff
PE interest in the maintenance, repair and overhaul sector shows no signs of slowing. With global air travel rebounding and aircraft fleets aging faster than Boeing and Airbus can deliver replacements, demand for these services is booming, according to our analyst note. In 2024 alone, the sector saw 24 PE deals and seven exits—strong signals of investor confidence.

Its stable, recurring revenue streams and highly fragmented market make it ripe for consolidation plays. Add in maintenance backlogs, supply chain bottlenecks and an industrywide shift toward predictive tech, and it is clear why PE firms are looking for opportunities.
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A recovery for India's VC market?
(Da-kuk/Getty Images)
Deal value in India rebounded last year after suffering two years of steep declines.

Capital is shifting toward late-stage companies, raising concerns over the market's future.
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VC Deals  
New York-based Carbon Arc, a startup using AI to help businesses create insights on their data, raised $56 million in a round led by Liberty City Ventures.

Cardiac Dimensions, a startup based in Washington state creating treatments for heart failure, raised a $53 million Series E led by Ally Bridge Group.

Evroc, a Stockholm-based hyperscale cloud company, raised over €50 million in a Series A led by Blisce.

New York-based Campus, a company running an online two-year college, has raised a $46 million Series B led by General Catalyst.

Oklahoma City-based Wheeler Bio, which is focused on antibody-based therapies, has raised a $35 million Series A1 led by Alloy Therapeutics and Echo Investment Capital.

Cape, a mobile carrier startup focused on security, has raised $15 million in a Series B add-on from investors including A*, Costanoa and Point72, as well as $15 million in a debt facility from Silicon Valley Bank.

Buynomics, German company developing an AI-powered pricing and revenue optimization platform, secured a $30 million Series B led by Forestay Capital.

Brainomix, a UK-based developer of AI-powered imaging tools for neurological and cerebrovascular diseases, secured a £14 million Series C from investors including Parkwalk Advisors, the Boehringer Ingelheim Venture Fund and Hostplus.
 
PE Deals  
Brookfield Asset Management is the frontrunner to acquire Colonial Pipeline in a deal that could value the company at $10 billion, Bloomberg reported.

Norway's sovereign wealth fund is acquiring a 25% stake in a £2.7 billion London property portfolio in partnership with Shaftesbury Capital.

X, Elon Musk's social network, has raised about $1 billion in funding from investors including Darsana Capital Partners and 1789 Capital and Musk himself, Bloomberg reported.

Audax is set to acquire Lanter Delivery Systems from EGI in a deal valued at $1 billion, PE Hub reported.

Citadel has penned a $1 billion deal to acquire assets within the Haynesville Basin from Paloma Natural Gas, Bloomberg reported.

Long Ridge-backed NinjaTrader, a futures trading platform, is set to be acquired by VC-backed Kraken for $1.5 billion.
 
Exits  
The Carlyle Group is in search of a buyer for Colombian oil producer SierraCol, seeking a valuation of about $1.5B, Reuters reported.

SoftBank is buying Ampere, the Santa Clara-based chip design company started by former Intel exec Renee James, in an all-cash deal valued $6.5 billion.
 
Fundraising  
Andreessen Horowitz is raising $750 million for its next life-sciences-focused fund, according to The Wall Street Journal.

According to SEC filings, the fintech-focused firm Ribbit Capital is raising $500 million for its next flagship fund.

ICG closed its Europe Mid-Market Fund II on €3 billion.

London-based VC firm 2150, which invests in sustainability tech for urban growth, closed its second fund on €197 million.

London-based buyout firm Foresight held a £100 million second close for its evergreen fund dedicated to investing in companies in Southwest England.

Tampa-based Weatherford Capital raised $300 million for its sophomore growth equity fund.

Pantheon closed its sophomore secondaries opportunity fund on $1.1 billion.
 
 
Corporate M&A  
Cigna has completed the $3.3 billion sale of its Medicare business to Health Care Service Corp..
 
Chart of the Day  
Source: US All In: Female Founders in the VC Ecosystem
 
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