Model N, a platform used by companies such as Johnson & Johnson, AstraZeneca, and AMD to automate decisions related to pricing, incentives, and compliance, is going private in a $1.25 billion deal.
Vista Equity Partners is doling out $30 per share in the all-cash transaction, representing a 12% premium on Friday’s closing price, and 16% on its 30-day average.
Founded in 1999, Model N’s software integrates with various data sources and internal systems to help companies analyze trends, pricing efficacy, market demand, and more.
The platform is typically used in industries such as pharmaceuticals and life sciences, where there may be complex pricing structures, and where regulatory or market changes can impact business.
However, its valuation has generally hovered below the $1 billion market for the past six months, sparking Vista Equity Partners into action today.
Was the fundraising process any more or less difficult this time given the market?
If you really rewind the clock, back in 2018 when we raised our sixteenth fund, it was a “normal” environment.
There’s obviously a valuation reset going on for every company seemingly that’s not a large language model company, which is a lot of companies.
I’d guess that gives you easier access to top companies, but also hurts some of your existing portfolio companies.
I don’t think anyone has ever reached a great venture outcome feeling like, ‘Man, I got a steal on that deal.’ You always feel slightly uncomfortable.
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GGV Capital announced last fall that was splitting up its team amid growing tensions between U.S. and China, though it never cited the atmosphere as the explicit driver of the move.
The thinking in abandoning the GGV Capital brand, per a source familiar, was that because both teams are operating separately going forward, they felt it was best to develop new brands.
Oren Yunger, the newest member of GGV Capital, also remains on team Notable.
Another longtime managing director at GGV Capital, Eric Xu, who is based in Shanghai, will continue to oversee the original firm’s independently operated yuan-denominated funds.
Roughly 2.5 years ago, GGV Capital announced it has raised $2.5 billion for its new funds, marking its largest family of funds ever.
With TikTok potentially poised for a U.S. ban, YouTube is touting how well its own TikTok competitor, YouTube Shorts, is paying off for creators.
TikTok’s year-old fund, which replaced TikTok’s $1 billion Creator Fund, is now exiting beta.
YouTube first introduced monetization options for Shorts creators in September 2022, with its plans for expanding the YouTube Partner Progam (YPP).
But starting in early 2023, Shorts creators could meet a new threshold of 1,000 subscribers and 10 million Shorts views over 90 days.
What’s more, YouTube notes that creators participating in the partner program for Shorts often monetize in other ways, as well.
Wen Hsieh and Haomiao Huang, both Kleiner Perkins investors, left the firm in 2023 to start their own venture capital fund called Matter Venture Partners.
The median venture fund raised that year was around $37 million, according to a PitchBook-NVCA Venture Monitor report.
Matter Venture Partners invests at the large seed rounds, Series A and Series B.
He believes that Matter Venture Partner’s focus on hard tech was the reason for the oversubscription.
We like to fund them and entrepreneurs that contribute to these new innovations.”So far, Matter Venture Partners invested in six companies not made public yet.
Hardware maker Rabbit has tapped a partnership with ElevenLabs to power voice commands on its devices.
The Rabbit r1 will ship with ElevenLabs’ tech, which will enable voice commands from the users and how the pocket AI device talks back to them.
ElevenLabs said that while r1 was poised for voice interaction from the start, the company’s low latency models will make interactions more human-like.
Our collaboration is about making the r1 a truly dynamic co-pilot, ” ElevenLabs’ CEO Mati Staniszewski said in a prepared statement.
In January, Rabbit said that it will use Perplexity AI’s solutions to answer users’ questions on the device.
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Sameer Brij Verma, a high-profile investor at the Indian venture firm Nexus, will be leaving the fund later this year, he confirmed to TechCrunch.
Verma plans to launch his own venture firm, with the inaugural fund expected to have a corpus of at least $150 million, a source familiar with the matter said.
The timing of his departure is also peculiar as Nexus raised a $700 million fund, its largest, just last year.
Verma has been working with his portfolio startups to hand over board seats to other partners at Nexus for several months, the source said, requesting anonymity.
Verma plans to launch his own fund by the end of the year where he plans to adopt a strategy that sets him apart from other investment firms in India.
Rather than grimly assembling data about cancer deaths to predict outcomes in treatment, the founders of Cure51 had another idea.
Instead, the company assembles data about long term survivors of cancer, thus hoping to crack the code on what keeps people alive.
It’s now raised a €15 million Seed round led by Paris-based Sofinnova Partners.
Other investors in this round included: Hitachi Ventures GmbH, Life Extension Ventures, Xavier Niel, and Olivier Pomel, CEO, and co-founder of Datadog.
Both had previously worked in five well-known oncology centers, such as the Gustave Roussy Institute in Paris and the Vall d’Hebronin Barcelona.
