Happy Wednesday, Dear Tech Take Readers!
New Unicorn Alert
Trumid – a high-growth corporate bond trading platform – just secured new funding.
Dragoneer Investment Group, TPG and funds and accounts managed by T. Rowe Price, Hillhouse Capital and BlackRock invested $200 million in Trumid, bringing the platform valuation to more than $1 billion.
The fundraise was one of hottest in 2020 as Trumid has shown extraordinary growth, even relative to other high-growth peers, Steve McLaughlin, founder of fintech specialty investment bank FT Partners and financial adviser to Trumid, told PE Hub.
“Trumid’s raise was one of the most sought after of the year for us, with multiple $100 million investors trying to get in here,” McLaughlin said.
Stay tuned for more on this in my upcoming story.
Arcline Investment Management acquired Jersey Elevator, which provides elevator maintenance, modernization and installation services in New Jersey and Pennsylvania. Arcline raised its debut fund on $1.5 billion last year. The firm was launched by Rajeev Amara, a former Golden Gate executive. Read more here on PE Hub.
Accel-KKR is targeting at least $300 million for its debut pool targeting smaller-scale tech-related companies, Chris reports on Buyouts. An interesting aspect of the fund, called Accel-KKR Emerging Buyout Partners, is its evergreen structure. Read more here on Buyouts.
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