Private Equity 8 Hours

Last updated: July 1, 2026, 5:30 AM ET

Private Equity Dealmaking & Fundraising

EQT's takeover bid for Australian fund manager Perpetual was rebuffed, with the board holding out for a higher valuation on the unsolicited $1.7 billion approach. The offer came from Windflower, an entity understood to be indirectly controlled by the Swedish private equity giant. In other fundraising news, Tapestry VC closed its third fund at $80 million, targeting repeat founders in Europe and anticipating a wave of AI-driven exits to generate future investment opportunities. Separately, former Speedinvest partner Rick Hao launched a $50 million solo GP fund focused on deeptech startups.

Venture Capital & Startup Investments

London-based Tapestry VC launched an $80 million third fund to back European repeat founders, expecting the coming AI exits to spawn a new generation of experienced entrepreneurs. Meanwhile, former Speedinvest partner Rick Hao closed his own solo GP fund at $50 million, specifically aimed at deeptech startups. The venture capital world is also watching 21 university spinouts with significant potential, including several from the University Edinburgh that are actively seeking investment. Separately, DeepMind Gensyn angels are backing Xylo in its £2.8 million raise.

Sector Focus & AI Impact

FPE has backed BMA, a software and services platform providing decision intelligence for utility companies and infrastructure operators. This investment underscores a broader trend of private equity firms targeting niche software businesses. In a significant move, one AI founder decided to ditch bootstrapping for a $17 million deal with 20VC, indicating a shift in strategy for some rapidly growing AI companies. The integration of AI is also forcing a closer alignment between HR and finance departments, as highlighted by a recent analysis of the headcount paradox.

Fintech & Consumer Services

Fintech firm Sum Up is launching a consumer account that incentivizes shoppers to patronize small businesses by offering rewards. This initiative taps into a growing consumer desire to support local economies and offers a novel approach to customer engagement within the payments sector.

Promotions & Firm Developments

Inflexion announced several key promotions to partner, with Sachin Mitra, James Stevens, and Freddy West moving up to the partnership level, signaling internal growth and development within the firm.

Geopolitical & Policy Matters

France's bid to block the UK from a €5 billion EU fund has sparked significant backlash, raising questions about international cooperation and financial resource allocation. Furthermore, the UK's long-awaited defence investment plan has divided startups and VCs, pointing to differing views on strategic priorities and the allocation of capital within the sector.