May 28, 2024
Venture Capital
Musk’s xAI secured a $6 billion Series B funding round, achieving a $24 billion valuation, with significant investments from Sequoia Capital and Andreessen Horowitz (a16z).
Indian e-commerce giant Flipkart is in the process of raising $1 billion at a $36 billion valuation, led by Walmart and prominently featuring participation from Google.
German AI defense startup Helsing AI is negotiating a $400 million Series C funding round, targeting a $4 billion valuation, with General Catalyst as the lead investor.
CBiGroup, a financial services platform catering to businesses, has successfully raised $15 million in a Series A funding round led by Alpol Capital Family Office.
Rows, a cloud-based spreadsheet application, has completed an $8.4 million seed funding round, spearheaded by Indico Capital Partners.
5thScape, a startup dedicated to developing virtual reality products, has raised $6 million in its seed funding round.
ThinkLabs AI, specializing in advanced grid planning technology, raised $5 million in a seed funding round led by Powerhouse Ventures and Active Impact Investments.
Private Equity
KKR is on the verge of securing EU approval for its $23.9 billion acquisition of Telecom Italia’s fixed-line network.
Private equity firm PAG is contemplating the acquisition of shopping mall properties from Chinese conglomerate Dalian Wanda Group, potentially valuing the deal at $13.8 billion.
EQT is evaluating strategic options for Reworld, including the sale of a minority stake, which could value the waste management company at over $8 billion, including debt.
Waste disposal company Stericycle, valued at $4.8 billion, is considering a potential sale following expressions of takeover interest.
Advent International, a private equity firm, is close to finalizing a deal to acquire a stake in industrial software company Prometheus at a valuation exceeding $4 billion, including debt.
Carlyle is preparing to sell Italian aerospace manufacturer Forgital, targeting a valuation of $2.7 billion enterprise value.
UK engineering company John Wood Group has rejected a third takeover proposal worth approximately $2 billion from Dubai-based Sidara.
UK homebuilding leader Persimmon is considering a $1.3 billion takeover bid for its competitor Cala.
Coventry Building Society, a UK financial services firm, plans to acquire Co-operative Bank for $990 million in cash.
ADNOC and Aramco are among the companies considering bids for Shell’s downstream assets in South Africa, which could be valued at over $800 million.
Swiss private bank Julius Baer is reportedly exploring the acquisition of its rival, EFG International.
IPO
Saudi Arabia is planning a significant share sale, targeting around $10 billion, in its state-owned energy giant Aramco.
India’s Adani Energy Solutions has received board approval to raise up to $1.5 billion.
Indian mining company Vedanta is considering a share sale that could generate up to $1 billion.
Waystar, a healthcare payments software firm, is proceeding with plans for a $950 million IPO.
GameStop raised $933 million through an at-the-market equity offering.
The IPO of Mauritian telecoms firm Emtel, valued at $222 million, has made it the fifth-most valuable company in Mauritius.
Luxury sneaker brand Golden Goose is preparing for a Milan IPO, which could happen as early as this week.
French energy giant TotalEnergies is exploring a cross-listing in the US while maintaining its shares on Euronext.
New Funds
China has established its third state-backed fund, amounting to $47.5 billion, aimed at supporting its semiconductor industry.