Private Equity 3 Days

Last updated: August 14, 2026, 11:40 PM ET

Venture Capital and AI

Joshua Kushner, co-founder of Thrive Capital, has voiced concerns about the current enthusiasm surrounding Artificial Intelligence, cautioning venture capital firms against allowing excitement to overshadow investment discipline. While acknowledging the immense potential of AI, Kushner emphasized the importance of maintaining rigorous evaluation processes. Separately, Thrive Holdings has successfully raised $2 billion in new funding at a $12 billion valuation, with backing from notable investors like SoftBank and D1 Capital Partners, aiming to bring AI solutions to the enterprise market. The surge in AI investment is also evident in the growing number of companies achieving unicorn status, with 40 companies joining the Crunchbase Unicorn Board in July, marking the highest count in four years. Financial services, robotics, and AI orchestration were among the leading sectors.

Major Funding Rounds and Tech Investments

The private markets have seen significant funding activity, with Databricks leading the pack by raising another $5 billion, just eight months after a similar substantial round. Other major funding rounds this past week included an AI neolab, a data center and electricity storage company, and defense technology. In the artificial intelligence infrastructure space, Mistral has secured significant backing from companies like ASML and Amadeus to support its data center buildout. Meanwhile, Battery Ventures is backing Vetspire, an AI operating system for veterinary practices, with the aim of accelerating product innovation and AI development.

Mergers, Acquisitions, and Sector Focus

Private equity firms continue to be active across various sectors. Shurco, backed by Behrman, has acquired manufacturer Heavy Motions Inc. In the technology and software space, Thoma Bravo is set to take the specialty insurance risk exchange platform Accelerant private in a deal valued at over $4 billion, with Altamont Capital Partners and the company's founders retaining equity stakes. Providence Equity has agreed to acquire Hometrack, a provider of property valuation data and analytics. In the environmental sector, One Rock is divesting its environmental services firm Enviro Serve to Clean Harbors for $470 million.

Data Centers and Infrastructure

The demand for AI infrastructure continues to drive deal momentum. CVC DIF, the infrastructure arm of CVC, has agreed to acquire a significant majority stake in firstcolo, a German colocation data center operator, from Cube Infrastructure. Similarly, Silver Lake and Digital Bridge are reportedly exploring an exit for Vantage Data Centers, potentially valuing the hyperscale operator at around $100 billion, through either an IPO or a sale.

Fundraising and Investment Strategies

EQT's Scaleup Europe Fund has debuted with a significant €450 million investment in ICEYE, a satellite operator valued at €10 billion. EQT and Digital Garage have also increased their tender offer for Kakaku.com to ¥3,570 per share, surpassing a competing bid. HarbourVest is deploying its seventh flagship co-investment fund, HCF VII, which closed at $4.75 billion, focusing on transformative trends in AI and healthcare innovation. The Weymouth Retirement Board is seeking private equity co-investment managers.

Private Credit and Distressed Assets

The private credit market is seeing activity around distressed loan portfolios. Pimco and Pollen Street are reportedly among the suitors for a €1.2 billion ($1.4 billion) non-performing loan package being sold by Italy's BFF Bank. In a separate development, CVC Credit has priced its fourth new issue collateralised loan obligation of the year, Apidos LVIII, for $550 million. Meanwhile, Korea's National Pension Service (NPS) has increased its exposure to credit secondaries by $1 billion, bringing its total in secondary funds and co-investments to approximately $3.7 billion.

Regulatory Scrutiny and Market Trends

The SEC is intensifying its focus on private fund valuations, with examiners reportedly inquiring about specific funds. This heightened scrutiny comes as the private equity market navigates various trends, including a shift towards local economy themes and a general slump in dealmaking, according to PE International. In Europe, fintech companies are grappling with cultural challenges.

Geographic Expansion and Diversification

UK-based investor Northern Gritstone is expanding its global reach by opening an office in San Francisco. Saudi Arabia's Public Investment Fund (PIF) is shifting its strategy to focus more on value realization and is seeking to attract greater private capital for its next phase of investment.

Specific Sector Deals

In the beverage sector, Bain Capital, Platinum Equity, and Monogram are among the firms making deals. Astorg has completed its buyout of Thermo Fisher's microbiology business. The nutraceuticals sector is also seeing activity, with Butterfly Equity, Graham Partners, and Wise Equity reportedly transacting with assets in this area. Wolf-Gordon, backed by Charger, has acquired interior surfaces providers Andor Willow and Walls & Interiors.

Venture Capital Activity

Accel has raised $800 million for its ninth early-stage fund focused on Europe. In London, a venture lab is actively building deeptech companies aimed at addressing environmental challenges, as highlighted by Sifted. The drone industry is also a focus for venture capital, with VCs identifying 10 drone startups to watch in 2026.

Energy and Infrastructure Investments

Solar energy is attracting significant private equity interest. Providence Equity has agreed to sell its live entertainment business, ATG, in a private equity deal. In the energy sector, Bernhard-backed Optimum Energy has acquired Hussung Mechanical Contractors and HMC Service Company. Investors are also watching 16 energy startups in Europe.

Financial Services and Lending

Bank of America has agreed to invest up to $1.9 billion for a stake of up to 49.9% in Jio Credit, the lending arm of Jio Financial Services. Goldman Sachs is set to acquire ETF provider Neos Investments for $2.25 billion. Neos manages $30 billion in assets across 19 options-based income ETFs.

Other Notable Transactions

RF Investment Partners has invested in drilling company RJ Underground. Braemont Capital has invested in consulting firm Thought Logic to support its growth. WestBridge is acquiring a majority stake in financial planning firm Beckett Investment Management from Foresight Group. Granite Creek-backed DCG has merged with digital and tech firm Urban Emu. Astara Capital has acquired industrial wastewater treatment firm Dynatec. Reverence Capital-backed Sunstar has acquired insurance agency RJR Faribo. Clearview-backed Capitol Services has acquired corporate services provider Wolz. Gridiron Capital is investing in life sciences back-office solutions provider van den Boom & Associates. Marlin’s Radar Healthcare has completed an add-on acquisition of patient experience platform Cemplicity. Riverside-backed Western Botanicals is investing in dietary supplement developer Yellow Emperor.