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The Aggregator: Tech investments, real estate deals highlight dynamic market activity

Posted on by darion

We are experimenting with making The Aggregator a daily feature, and today’s edition showcases a flurry of activity across various sectors, with a particular focus on technology investments and real estate transactions. Today’s developments reflect ongoing trends in AI adoption, renewable energy investments and the increasing importance of ESG considerations in business operations.

Squarespace-Permira deal update

Squarespace and Permira have revised their previously announced acquisition agreement. Key updates include:

  • New offer price: $46.50 per share in cash
  • Total transaction value: Approximately $7.2 billion
  • Price increase: 5.7% over the initial offer of $44 per share
  • Premium: 36.4% over 90-day volume weighted average trading price
  • Structure: Tender offer, contingent on majority of unaffiliated stockholders tendering shares

The amended deal represents a 21.8% premium over Squarespace’s 52-week high share price as of May 10, the last trading day before the acquisition offer was announced.

Permira Partner David Erlong, Partner at Permira, said this is the firm’s “best and final offer.”

Venture Atlanta announces 88 tech companies for 17th Annual Event

Venture Atlanta, a leading technology investment conference in the Southeast, has revealed its lineup for this year’s event:

  • Date: Oct. 8-9
  • Venue: The Woodruff Arts Center and Atlanta Symphony Hall
  • Featured companies: 88 innovative tech companies
  • Expected attendance: Over 1,500, including 450 funds from across the US

Key highlights:

  • Popular pitch competitions will return
  • Enhanced networking opportunities
  • Exclusive events for founders, investors, and women entrepreneurs

CEO Allyson Eman emphasizes the event’s commitment to fostering connections and showcasing emerging technologies.

Pender Capital completes two RE financing deals

Pender Capital, a specialized provider of short-term, senior secured commercial bridge loans, has recently closed two significant financing transactions:

  1. Dallas, Texas:
    • Loan amount: $27.5 million
    • Property: Modern, recently renovated Class A multifamily complex
    • Units: 159
    • Location: Highly sought-after retail and residential area in Uptown Dallas
  2. Near Newark, New Jersey:
    • Loan amount: $36.4 million
    • Property: Institutional-quality office complex
    • Size: 320,000 square feet
    • Location: 13 miles west of Downtown Newark, in an affluent neighborhood

Post Oak backs Quantent Energy Partners in Haynesville Shale venture

Houston-based private equity firm Post Oak Energy Capital has made an equity commitment to Quantent Energy Partners. Simultaneously, Quantent completed its first acquisition of natural gas assets in the Haynesville Shale region of North Louisiana.

Post Oak Energy Capital, known for its investments in the domestic upstream, midstream, and oilfield services sectors, is supporting Quantent’s expansion plans. The Quantent management team, leveraging their extensive regional operating experience, aims to pursue upstream development opportunities in the Haynesville and Bossier shale formations across North Louisiana and East Texas.

Ripple Ventures leads $1.8M pre-seed round for NetNow

Ripple Ventures led a $1.8 million pre-seed funding round for NetNow, a trade credit automation platform for wholesalers and distributors. Participating investors include from Center Street Partners, Antler, Motivate Venture Capital, and Day One Ventures.

The company plans to use the funds to accelerate its AI product development, focusing on simplifying documents, analyzing data, and generating risk scores and metrics. NetNow’s platform aims to streamline the credit and collections process for businesses in the wholesale and distribution sectors.

AI finance and HR Platform finally secures $200m in new funding

finally, an AI-driven all-in-one finance and HR suite, closed a new funding round totaling $200 million. This includes a $50 million Series B investment led by PeakSpan Capital and a $150 million credit facility from Encina.

This latest capital injection finally brings its total funding to $305 million, following its $95 million Series A in 2022 and an additional $10 million raised in February 2024. The company has demonstrated impressive growth, reporting a 300% increase in annual revenue since its Series A round .

‘finally’ intends to use the new funding to expand its workforce across various departments, advance its product stack through continued research and development and enhance its go-to-market initiatives.

Superluminal Medicines raises $120m in Series A funding for AI-powered drug discovery

RA Capital Management led a $120 million Series A funding round into Superluminal Medicines to advance its AI-powered drug discovery platform. The round participation included from existing investors Insight Partners, NVIDIA’s NVentures, and Gaingels. New investors Catalio Capital Management, Eli Lilly and Company, and Cooley also joined the financing.

The company, which combines generative biology, chemistry, and machine learning to accelerate and improve medicine creation, plans to use the funds to advance its lead program into clinical development and expand its small molecule drug discovery programs, focusing on high-value G protein- coupled receptor (GPCR) targets. As part of the investment, Catalio’s Dr. Diamantis Xylas has joined Superluminal’s board of directors.

THL acquires majority position in dynamic firmware provider

THL Partners agreed to make a majority investment in AMI, a provider of silicon level software (dynamic firmware) required to power and boot, manage, orchestrate and secure modern computing environments. THL invested in AMI through both its flagship Fund IX and Automation Fund. Financial terms were not disclosed.

Aggreko’s ETS division secures $66m financing for solar portfolio

Aggreko Energy Transition Solutions (ETS), a division of global energy solutions provider Aggreko, has closed a $66 million term loan financing for its diverse solar portfolio. The portfolio comprises 88.5 megawatts of commercial, industrial, and community solar projects across New York, Texas, and California.

The financing is structured as a delayed-draw term loan aligned with project completion milestones. The customer base includes utilities, corporations, and low-to moderate-income consumers.

KeyBanc Capital Markets led the transaction and is serving as the administrative agent.

Harrison Street expands partnership with Brightview Senior Living

Harrison Street has acquired five senior living properties in partnership with Brightview Senior Living. The portfolio includes 743 units in newly built communities across five states: Massachusetts, Maryland, New Jersey, Pennsylvania, and Virginia. These properties maintain a high average occupancy rate of 94%. Terms were not disclosed.

Brightview Senior Living, a long-standing partner of Harrison Street for over a decade, will continue to operate the communities. This acquisition adds to Harrison Street’s substantial investment in senior housing, which now totals more than $14.1 billion and encompasses over 42,000 units since the company’s founding.

Novata expands platform with “Novata for Companies” sustainability management suite

Novata, a leading sustainability management partner for private markets, has announced the launch of “Novata for Companies.” This expansion of their platform aims to help private companies address key sustainability challenges more effectively.

The new offering includes three main components:

  1. Sustainability Management Solution: A flexible workspace for collecting, storing, and collaborating on sustainability data.
  2. Carbon Navigator: A digitized carbon calculator for measuring Scope 1, 2, and 3 emissions.
  3. CSRD Solution: A comprehensive tool to help companies comply with Corporate Sustainability Reporting Directive (CSRD) requirements, featuring ESRS data management tools, a digitized double materiality solution, and expert advisory services.

Crestpoint acquires a 50% stake in three-property portfolio from Loblaw and Shoppers

Toronto-based Crestpoint Real Estate Investments has announced the acquisition of a 50% interest in a three-building portfolio from Loblaw Properties Limited and Shoppers Realty Inc. The transaction was executed through a 50/50 joint venture with an affiliate of Choice Properties Real Estate Investment Trust.

The acquired portfolio includes:

  1. A 711,000 sq. ft. dual load distribution facility in Mississauga, Ontario
  2. A 150,000 sq. ft. Real Canadian Superstore in Winnipeg, Manitoba
  3. A strata title interest in the lower floors of 60 Carlton Street, Toronto (formerly Maple Leaf Gardens)

Financial terms were not disclosed, but Crestpoint said the acquisition brings its total AUM to $10.4 billion, comprising 38.3 million square feet of real estate.