PE HUB Wire Highlights, 11.19.19

Vista buys Sonatype; Kohlberg puts SpecialtyCare up for sale; Why TA won’t ever sell a stake in itself

Morning, Hubsters. I have returned. How is everyone?

Things have changed in the roughly 1.5 weeks that I’ve been endlessly suffering from a tonsillectomy. Yes, I’m better now. I will sing again, my doctor assured me. (No, I didn’t sing before but it’s nice to know I still have the option.)

Let’s get to it. First up is some fintech data from CB Insights. Fintech deals rebounded slightly in the third quarter but will likely fall short of the 2018 high point, the data firm said. Q3 fintech funding topped $8.9 billion, which CB Insights said was a quarterly record after they adjusted for Ant Financials’ $14 billion investment in Q2 2018. Fintech has so far raised $24.6 billion through the third quarter, which is more than 2017’s total.

There are 56 VC-backed fintech unicorns worth a combined $210.6 billion, the report said. Third quarter gave birth to seven new fintech unicorns, CB Insights said. Read the report here.

Gemini Trust, the cryptocurrency exchange founded by the brothers Cameron and Tyler Winklevoss, has made its first acquisition. Gemini acquired Nifty Gateway, a platform for non-fungible tokens. Nifties are different from fungible cryptocurrencies like Bitcoin, because each one is a one-of-a-kind and not interchangeable, according to Tyler Winklevoss in a post on Medium. “Over time, we believe that both real world and digital collectibles will migrate onto blockchains in the form of nifties,” Tyler said.

BlueVine, which provides small business banking, has raised $102.5 million in a Series F round of funding led by ION Crossover Partners.

It’s not fintech but it’s still interesting. TA Associates has put Russell Investments up for sale, the Financial Times reported. Goldman is advising. See our brief here.

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