What a week it was...
Though not many new deal announcements.
Welcome to Excoastal, a newsletter covering deals, startups, venture capital, and more from Chicago to Boulder, Detroit to Columbus, and beyond. I’m Evan Lonergan, a native Midwesterner.
You can connect with me on Twitter @evanjlonergan, on Medium, and send deals/jobs/intel to evanlon92@gmail.com
What’s New
Excoastal Stats 📊
Last Week’s Open Rate: 42%
Last Week’s Views: 256
ICYMI: the Excoastal Investors Airtable sheet:
Midwest Venture Capital Firms and Angels
🎉 Congrats to Joe Biden and Kamala Harris, the projected President-Elect, and Vice President-Elect. Looking forward to a new era of truth, trust, and compassion. 🎉
Venture Capital Deals
📍 Michigan
Holland-based Shoulder Innovations, a developer of shoulder replacement systems and products, has raised $21.6 million in a round co-led by US Venture Partners and Lightstone Ventures. Additional investors include Alumni Ventures Group, Wakestream Ventures, Biosciences Research and Commercialization Center of Western Michigan University, Invest Michigan, Michigan Angel Fund.
📍St. Louis
Benson Hill, a food-tech company that uses data science and machine-learning techniques to optimize for healthier and more sustainable food, has closed a $150 million Series D funding round led by Wheatsheaf and GV.
📍 Denver/Boulder
ColdQuanta, a Boulder-based quantum atomics startup, raised $32 million in Series A funding. Global Frontier Investments and LCP Quantum Partners co-led, joined by Foundry Group.
Private Equity Deals
The Carlyle Group and Vista Equity Partners agreed to buy Tribute Technology, a Middleton, Wis.-based provider of funeral arrangement SaaS, from Providence Equity, per PE Hub.
M&A
Granicus, a developer of tech aimed at boosting civic engagement, has acquired Austin-based Calytera from BuildGroup, a VC investor. Calytera is a provider of permitting, compliance and licensing software.
Congruex, a Boulder, Colorado-based portfolio company of Crestview Partners, acquired True North Management, a regional provider of wireless infrastructure.
Coupa Software agreed to but Llamasoft, an Ann Arbor, Michigan-based provider of supply chain modeling and design software, from TPG Capital for $1.5 billion.
Transom Capital Group acquired BridgeTower Media, a Minneapolis-based provider of B2B information, research, events, and marketing solutions. Term Sheet
New Funds
CIVC Partners, a Chicago-based private equity firm, is raising $525 million for its sixth fund, per an SEC filing.
Tramway Venture Partners of New Mexico is raising $25 million for its second fund, per an SEC filing.
Homestead Capital, a private equity firm investing in U.S. farmland, raised $596 million for its third fund.
What I’m Reading
Madrona Venture Group's Investment Decision System
Software is Eating the Markets
Startup/VC Twitter
Podcast Addiction
Special Episode: Joe Biden Wins the Presidency - The Daily
Culture Break
📚Read- All eyes on the news this week.
🎬Watch- Way too much cable news.
🎧Listen-
🧐Think- The Biden Era Begins
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