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| | We will be taking Monday off in observance of the New Year's holiday. Our next newsletter will publish Tuesday.
In the meantime, be sure to catch up on all of our 2016 Year in Review coverage. |
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| Our take: Key highlights from 2016, bold predictions for 2017 |
| | | | | | | | Top PE investor of the year in… |
| | Continuing our year-end coverage, we put the PitchBook Platform to use to investigate some of the most active PE firms in 2016 across a host of categories, including deal types, industries and locations. |
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| | | | | | Don't miss our PE Crystal Ball Report! |
| What do your peers and competitors in private equity think will happen next year?
We asked them about rising interest rates, ongoing deal negotiations, fundraising forecasts, debt-equity structures, sector-specific trends and more.
See their answers in the free report |
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| | | | | | | Exploring the growing popularity of the employee-less company. [The Wall Street Journal]
What RVs say about the American economy. [The Atlantic]
The remarkable story of how TCU football player Caylin Moore emerged from Compton, CA, to become a Rhodes Scholar. [ESPN]
Profiling biological engineer Kevin Esvelt, and examining how he and other researchers hope to use the revolutionary gene-editing tool CRISPR to alter the destiny of species. [The New Yorker] |
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| Since yesterday, the PitchBook Platform added: | | 152 Deals | 1194 People | 522 Companies |
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| 2011 Vintage US Venture Funds with IT Investments |
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| Lotus Innovations takes over Edge |
| | Application Software | Reston, VA | Buyout |
| Lotus Innovations has acquired Edge Technologies, a software developer specializing in data visualization and information integration for corporate and government clients. Edge CEO and co-founder Betsy Gorgei and the rest of the company’s leadership team will be retained as part of the deal. |
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| Main Street to exit Daseke for $626M |
| | Logistics | Addison, TX | Reverse Merger |
| Main Street Capital has agreed to sell Daseke, a provider of trucking services, to Hennessy Capital Acquisition II (NASDAQ: HCAC), a blank-check company founded by Daniel J. Hennessy. The $626 million deal is expected to close next quarter. The reverse merger will result in Daseke listing on the NASDAQ under the DSKE ticker symbol, with an expected initial enterprise value of $702 million. Main Street will exit an investment made in 2008 with the sale. |
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| Vista increases Foundation Fund cap |
| | San Francisco, CA | Buyout |
| Vista Equity Partners has raised the hard cap on its Foundation Fund III from $2.5 billion to $2.75 billion, according to a report from Buyouts. The vehicle will be used to back software companies with enterprise values between $50 million and $400 million. Vista’s previous fund in the firm’s small-cap series closed on $1.1 billion in 2013. |
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| | | | | | J.C. Flowers reaches $628M with latest vehicle |
| | J.C. Flowers & Co. has raised $628 million so far for its fourth fund, per an SEC filing. The firm, which targets investments in the financial services industry, closed its previous vehicle on $2.3 billion in 2008. |
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