PE HUB Second Opinion

In Second Opinion, BlackBerry shares plunge 12 percent, BlackRock will now manage Arizona State University’s $600 million endowment and Sears closes another 20 stores as the distressed department store chain’s crisis continues.

Home management platform provider Centriq lands $4.8 mln

San Rafael, California-based Centriq Technology, a home management platform provider, has raised $4.8 million in funding, according to a source at the firm. Office Depot Inc led the round with participation from other investors that included Ringleader Ventures.

Vineti nets $13.75 mln Series A

Vineti, a cloud-based platform to expand patient access to life-saving cell and gene therapies, has secured $13.75 million in Series A funding. The investors were GE Ventures, Mayo Clinic Ventures, DFJ and LifeForce Capital.


Satellogic fetches $27 mln Series B

Satellogic, a provider of earth observation solutions, has raised $27 million in Series B funding. Tencent led the round with participation from other investors that included CrunchFund and Pitanga.


TLcom rakes in $40 mln for new Africa fund

London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa. The investors include African Development Bank, the European Investment Bank and FBN Capital. The fund will make investments between $500,000 and $10 million per company.

Cloudbeds attracts over $9 mln Series B

Cloudbeds, a provider of hospitality management, has raised over $9 million in Series B financing. PeakSpan Capital led the round with participation from other investors that included Nashville Capital, Cultivation Capital, ClearVision Equity and TTCER Partners.

Algorithmia picks up $10.5 mln Series A

Seattle-based Algorithmia, an open marketplace for algorithms, has closed $10.5 million in Series A financing, according to a blog post on its site. Google led the round with participation from Madrona Venture Group, Rakuten Ventures, Osage University Partners and Work-Bench.

Customer data platform Synthio takes in $10.5 mln

Atlanta-based Synthio Inc, a customer data platform, has secured $10.5 million in funding. Fulcrum Equity Partners led the round with participation from investors that included Vocap Investment Partners, Spinnaker VC Direct, LLC, Bahns Stanley, Stanley Partners, Ellis Capital, Buckhead Investments, the AIM Group and Silicon Valley Bank.

J.P. Morgan Asset Management raises $480 mln for second maritime fund

J.P. Morgan Asset Management has closed its second maritime fund at $480 million. The limited partners of Global Maritime Investment Fund II include pension plans, insurance companies, endowments and healthcare organizations. The pool will invest in vessels in distressed shipping sectors. So far, the fund has deployed $312 million of its capital via the acquisition of 14 assets.

Gemspring Capital buys Therma Corp

Gemspring Capital has acquired Therma Corp, a mechanical contractor that focuses on complex HVAC, high purity process piping and process controls for cleanrooms, laboratories and high-tech manufacturing facilities. No financial terms were disclosed.

Belay and Langley launch real estate joint venture

Belay Investment Group LLC and Langley Investment Properties have formed a joint venture. According to the details of the JV, Belay and Langley will invest up to $70 million in office, multifamily and mixed-use properties in the Portland, Oregon central city and greater metropolitan service area.


PetDesk snags $2.1 mln Series A in Canal Partners-led round

PetDesk, an app that connects pet owners with their pet care providers, has raised $2.1 million in Series A funding. Canal Partners led the round. In conjunction with the board, Todd Belfer of Canal Partners, has been added to PetDesk’s board of directors while David Paul has become a board observer.

Fed's stress tests

PE HUB First Read

First Read ends the week with news the biggest U.S. banks have passed the Fed’s latest stress tests, Sean Parker leaves Spotify’s board and SEC chair Jay Clayton wants more companies to go public.