Growth Capital Investments in 2025
Acquisition Volume in Growth Capital Investments in 2025 by Year
Last 5 years
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- Buyer
- Blackstone GP Stakes (Blackstone), Blue Owl GP Strategic Capital (Blue Owl)
- Target
- Atlas Holdings
- Industry
- Financial Services
- Location
- Connecticut, United States
- Type
- Growth capital
Blackstone (via Blackstone GP Stakes) and Blue Owl (via Blue Owl GP Strategic Capital) announced a strategic minority investment in Atlas Holdings. Atlas Holdings is a Greenwich, Connecticut–headquartered owner-operator platform that owns and operates a diversified set of industrial, manufacturing, and distribution businesses.
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December 29, 2025
- Buyer
- Vista Equity Partners
- Target
- Dentira
- Industry
- Cloud & SaaS
- Location
- California, United States
- Type
- Growth capital
Dentira, a San Francisco-based procure-to-pay SaaS provider for dental practices and multi-site healthcare operators, has received a strategic growth investment from Vista Equity Partners. The funding will support Dentira's product development—including AI-driven capabilities and its Lab Marketplace & Automation Suite—to scale the company's platform across thousands of practices and DSOs.
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December 23, 2025
- Buyer
- KKR, Balderton Capital
- Target
- Premialab
- Industry
- Data & Analytics
- Location
- Dubai, United Arab Emirates
- Type
- Growth capital
Premialab, a provider of data, analytics and execution tools for quantitative investing, secured a $220 million growth investment led by KKR with participation from existing backer Balderton Capital. The capital will fund global expansion, accelerate product development (including a recently launched execution product co-developed with Eurex), and scale Premialab’s data and risk analytics platform for institutional clients.
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December 23, 2025
- Buyer
- LDC (part of Lloyds Banking Group)
- Target
- myHappymind
- Industry
- Education
- Location
- Cheshire, United Kingdom
- Type
- Growth capital
LDC, the private equity arm of Lloyds Banking Group, has made a minority growth investment in Cheshire-based myHappymind to support the company’s expansion into more UK and international schools and ongoing product development. The funding will back the management team’s plans to scale the digital mental health and wellbeing programmes currently delivered to over 1,900 schools.
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December 19, 2025
- Buyer
- HCAP Partners
- Target
- Puzzle Healthcare
- Industry
- Healthcare Services
- Location
- Michigan, United States
- Type
- Growth capital
HCAP Partners, a California-based private equity firm, has made a growth investment in Puzzle Healthcare to accelerate scaling of its physiatry-led post-acute care coordination platform. The funding will support Puzzle's expansion of services across skilled nursing facilities and extend its national reach while aiming to reduce hospital readmissions and lower care costs.
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December 18, 2025
- Buyer
- Maven VCTs (managed by Maven Capital Partners)
- Target
- Digilytics
- Industry
- Cloud & SaaS
- Location
- England, United Kingdom
- Type
- Growth capital
The Maven VCTs have completed a £2.5 million growth capital investment in London-based AI-enabled SaaS provider Digilytics to accelerate product development and geographic expansion. The funding will support further development of Digilytics' GenAI-driven document automation platform RevEL and expansion into additional loan types and new markets, strengthening go-to-market partnerships with tier-one clients.
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- Buyer
- BTQ Technologies Corp.
- Target
- Keypair
- Industry
- Cybersecurity
- Location
- Seoul, South Korea
- Type
- Growth capital
BTQ Technologies announced a strategic investment in Keypair, a Korean full‑stack security company, to co‑own Keypair's post‑quantum cryptography (PQC) intellectual property and jointly develop hardware‑rooted, infrastructure‑grade security solutions. The partnership expands BTQ's footprint in South Korea and leverages Keypair's deployments across defense, energy and financial services to accelerate commercial integration of BTQ's quantum‑safe security roadmap.
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- Buyer
- Rock Hill Capital, True West Capital Partners
- Target
- Weathermatic
- Industry
- Agriculture
- Location
- Texas, United States
- Type
- Growth capital
Weathermatic, a Garland, Texas-based provider of smart irrigation controllers, cloud software (SmartLink), and field services, received a minority growth investment led by Rock Hill Capital with co-investment from True West Capital Partners. The capital will be used to accelerate product innovation, expand software capabilities and customer success resources, and support the company’s growth in water-management and irrigation solutions for landscape professionals and property/asset managers.
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December 17, 2025
- Buyer
- TA Associates
- Target
- PairSoft
- Seller
- Turn/River Capital
- Industry
- Cloud & SaaS
- Location
- Florida, United States
- Type
- Growth capital
PairSoft, a provider of procure-to-pay automation and payment solutions, received a majority growth investment from TA Associates to support product enhancement, AI development and global expansion. Existing investor Turn/River Capital fully exited its stake; financial terms were not disclosed.
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- Buyer
- Oakley Capital Fund VI (Oakley Capital)
- Target
- Low Tides Holdings LLC, James Perse
- Industry
- Retail
- Location
- California, United States
- Type
- Growth capital
Oakley Capital Fund VI has made an investment in Low Tides Holdings LLC, a partnership entity formed with luxury apparel and lifestyle brand James Perse. The capital will support James Perse's global expansion and marketing initiatives while backing its retail and direct-to-consumer growth.
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December 17, 2025
- Buyer
- Court Square Capital Partners, Pamlico Capital
- Target
- AVANT
- Industry
- IT Services
- Location
- Illinois, United States
- Type
- Growth capital
AVANT, a Chicago-based technology services distributor and sales-enablement platform for Trusted Advisors, received a strategic growth investment from Court Square Capital Partners with a reinvestment from existing partner Pamlico Capital. The founders and executive leadership retain significant ownership and will continue to run the business as the new capital will be used to scale AVANT's platform, capabilities, and support continued growth initiatives.
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- Buyer
- Charlesbank Technology Opportunities Fund II (Charlesbank Capital Partners)
- Target
- HBox
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Growth capital
HBox, a virtual care platform for specialty practices, received a growth investment from Charlesbank’s Technology Opportunities Fund II to accelerate expansion of its virtual care capabilities and scale its remote monitoring and patient-engagement offerings. The transaction closed on December 17, 2025 and will support HBox’s efforts to broaden specialty coverage (cardiology, pulmonology, nephrology) and strengthen its position as a virtual clinic partner for independent specialty practices.
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- Buyer
- Peloton Capital Management
- Target
- Starfish Specialty Insurance
- Industry
- Insurance
- Location
- New York, United States
- Type
- Growth capital
Peloton Capital Management has made a strategic minority investment in Starfish Specialty Insurance, a New York–based managing general agent (MGA). The capital will support Starfish’s rapid scaling plans and position the company to pursue strategic acquisitions while keeping the founding team as significant stakeholders.
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- Buyer
- SK Capital Partners
- Target
- Swixx BioPharma AG
- Industry
- Healthcare Services
- Location
- Switzerland
- Type
- Growth capital
SK Capital Partners, through an affiliate, reached a definitive agreement to invest in Swixx BioPharma AG as the company looks to accelerate its next phase of growth and global expansion. The transaction values Swixx at more than €1.5 billion, with Swixx co-founders and CEO/CFO retaining significant ownership and existing investors HBM Healthcare Investments and Mérieux Equity Partners remaining shareholders.
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December 15, 2025
- Buyer
- Godspeed Capital Management LP
- Target
- NextPoint Group
- Industry
- Aerospace & Defense
- Location
- Virginia, United States
- Type
- Growth capital
Godspeed Capital Management LP has made a strategic growth investment in NextPoint Group (NPG), a Herndon, Virginia-based provider of AI-powered software, cloud modernization, and mission-critical network capabilities for the U.S. intelligence and defense communities. Financial terms were not disclosed; NPG CEO Ron Kattas and other management will retain meaningful ownership while Godspeed partners to build NPG into a mission-technology platform and expand its offerings.
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- Buyer
- Jordan Partners LLC
- Target
- Vanguard Claims Administration, Inc.
- Seller
- Gilliam family (founders)
- Industry
- Insurance
- Location
- New Jersey, United States
- Type
- Growth capital
Jordan Partners LLC has made a strategic growth investment in Vanguard Claims Administration, a family-owned third-party administrator (TPA) and independent adjusting platform serving property and casualty insurance markets. The capital will support Vanguard’s investments in technology, data/reporting, client infrastructure and a disciplined tuck-in acquisition strategy while preserving founder-led culture and client relationships.
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December 13, 2025
- Buyer
- Bregal Milestone
- Target
- Beyond Now
- Industry
- Cloud & SaaS
- Type
- Growth capital
Beyond Now has secured a majority investment from European software private equity firm Bregal Milestone to accelerate global expansion, deepen product innovation, and strengthen customer success as it enters its next growth phase. The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals.
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December 11, 2025
- Buyer
- ETHZilla Corporation
- Target
- Karus
- Industry
- Financial Services
- Location
- United States
- Type
- Growth capital
ETHZilla Corporation purchased a 20% fully diluted stake in Karus for $3 million in cash and $7 million in ETHZilla common stock, valuing the strategic interest at $10 million. The investment gives ETHZilla board representation and governance rights and will integrate Karus's AI-driven auto-loan underwriting and analytics into ETHZilla's blockchain tokenization infrastructure to launch AI-modeled tokenized auto-loan portfolios beginning in early 2026.
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December 10, 2025
- Buyer
- Enceladus Partners
- Target
- Smith Excavating, LLC
- Seller
- Smith family / Matthew Smith (CEO)
- Industry
- Infrastructure
- Location
- North Carolina, United States
- Type
- Growth capital
Enceladus Partners, a family office, completed an investment in Smith Excavating, LLC, a second‑generation infrastructure services company headquartered in Winston‑Salem, North Carolina. Generational Group advised the transaction; Enceladus said the capital will support regional expansion, fleet and technology investments (including GIS capabilities), and partnership with CEO Matthew Smith to scale the business across the Mid‑Atlantic.
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December 10, 2025
- Buyer
- EQT Foundation
- Target
- Overview Energy
- Industry
- Renewable Energy
- Location
- Virginia, United States
- Type
- Growth capital
EQT Foundation has made a catalytic growth-stage investment in Overview Energy, a Virginia-based deep tech company developing satellites to beam solar energy from space to Earth. The funding will support Overview's path toward commercial deployment of its continuous space-based solar power beaming technology and help scale its technology for utility, data center and resilience markets.
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December 9, 2025
- Buyer
- Maven's MBO Fund II, Other Maven client funds, Covestus
- Target
- UltraDEX, Dentyl
- Seller
- Venture Life Group plc
- Industry
- Consumer Products
- Location
- Berkshire, United Kingdom
- Type
- Growth capital
Maven’s MBO Fund II, together with other Maven client funds, has committed up to £15 million to back Covestus, a Cheltenham-based consumer healthcare platform, to accelerate its buy-and-build strategy. The initial investment will support Covestus’s acquisition of two oral-care brands, UltraDEX and Dentyl, from Venture Life Group plc to strengthen its UK and international oral-care footprint.
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December 9, 2025
- Buyer
- LNC Partners
- Target
- Bennie Health, Inc.
- Industry
- Insurance
- Location
- New York, United States
- Type
- Growth capital
LNC Partners, a middle-market private equity firm, has completed a strategic growth investment in Bennie Health, a New York–based employee benefits broker and HR-focused technology platform. The capital will be used to accelerate Bennie's growth, expand its employee-facing technology, and support strategic M&A initiatives.
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December 9, 2025
- Buyer
- SEVA Growth LP
- Target
- Pronto
- Industry
- Cloud & SaaS
- Location
- Utah, United States
- Type
- Growth capital
Pronto, a Lehi, Utah–based secure, mobile-first team communications platform, received a significant minority growth investment from SEVA Growth LP. The capital will be used to accelerate sales, expand Pronto's customer footprint, and develop new product functionality and integrations; SEVA founder Shalin Mehta will join Pronto's board.
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December 8, 2025
- Buyer
- WindRose Health Investors, LLC
- Target
- Stellus Rx
- Industry
- Healthcare Services
- Location
- Texas, United States
- Type
- Growth capital
WindRose Health Investors has made a strategic growth investment in Stellus Rx, a Plano, Texas–based technology-enabled, value-based pharmacy care management platform. The undisclosed transaction will fund Stellus Rx’s expansion of clinical and operational capabilities and the scaling of its platform to serve additional patient populations nationwide.
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December 8, 2025
- Buyer
- Berkshire Partners, H.I.G. Capital
- Target
- United Flow Technologies
- Industry
- Environmental Services
- Location
- Texas, United States
- Type
- Growth capital
Berkshire Partners has made a strategic growth investment in United Flow Technologies (UFT), a Texas-based technical distributor and solutions provider for the municipal and industrial water and wastewater markets. Existing investor H.I.G. Capital will remain a minority shareholder; the capital will be used to deepen UFT's service capabilities, support team growth, and accelerate nationwide expansion of its water infrastructure solutions.
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December 6, 2025
- Buyer
- Summit Financial
- Target
- Ivy Wealth Management
- Industry
- Financial Services
- Location
- Rhode Island, United States
- Type
- Growth capital
Summit Financial has made a minority investment in Ivy Wealth Management, a West Warwick, Rhode Island-based registered investment advisor that oversees more than $500 million in client assets. The deal expands Summit’s national RIA platform and strengthens its presence in the Northeast while allowing Ivy’s principals to retain operational control and access Summit’s capital, technology and investment-management resources.
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December 5, 2025
- Buyer
- Advent International
- Target
- Skyone
- Seller
- Inovabra Ventures, Select angel investors
- Industry
- Cloud & SaaS
- Location
- São Paulo, Brazil
- Type
- Growth capital
Advent International has made a strategic investment in Skyone, a Brazilian cloud, data and AI software company, through Advent's Latin American Private Equity Fund VII as part of Skyone's Series C (terms undisclosed). The funding will support Skyone's international expansion, scale its Skyone Studio and Autosky platforms, and accelerate R&D in AI and cloud capabilities. In connection with the transaction, Inovabra Ventures and select angel investors fully exited while founders and investors Henkan and BeWater remain significant shareholders.
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December 4, 2025
- Buyer
- EQT (BPEA Mid-Market Growth Partnership (MMG fund))
- Target
- PropertyMe
- Seller
- PropertyMe founders (continuing as long-term shareholders; retaining significant minority stake)
- Industry
- Cloud & SaaS
- Location
- Australia
- Type
- Growth capital
EQT’s BPEA Mid-Market Growth Partnership (MMG fund) agreed to invest in PropertyMe, making EQT the majority investor in the Australian and New Zealand cloud-based PropTech platform. The transaction will pair EQT’s software and AI expertise with PropertyMe’s product innovation (including AiMe and MePay) to accelerate growth and geographic expansion while the founders retain a significant minority stake.
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- Buyer
- Castle Creek Capital (affiliates / Castle Creek managed funds)
- Target
- FirstSun Capital Bancorp
- Seller
- Legacy stockholders
- Industry
- Financial Services
- Location
- Colorado, United States
- Type
- Growth capital
Affiliates of Castle Creek Capital acquired $40 million of common stock in FirstSun Capital Bancorp from legacy stockholders, becoming one of the company's largest institutional shareholders with roughly a 4% stake. The investment is intended to support FirstSun as it pursues a proposed merger with First Foundation Inc. and Castle Creek expects to join the company's board subject to regulatory and closing conditions.
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December 4, 2025
- Buyer
- Celtis Venture Partners, Cleanwatts management team (José Basílio Simões, Jorge Landeck, James McDougall)
- Target
- Cleanwatts Digital
- Industry
- Energy
- Location
- Portugal
- Type
- Growth capital
Cleanwatts Digital has launched as an independent AI-powered digital energy company after a management buyout led by founding partners José Basílio Simões, Jorge Landeck and James McDougall, with investment from Celtis Venture Partners. The Coimbra-based company provides battery integration, renewable asset optimization and behind-the-meter energy management via a cloud-based platform that serves global clients and manages 1.5 TWh across ~35,000 IoT devices.
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December 4, 2025
- Buyer
- Oakley Capital, General Atlantic
- Target
- Brevo
- Industry
- Cloud & SaaS
- Location
- Île-de-France, France
- Type
- Growth capital
Oakley Capital Fund VI is making a growth investment in Brevo (formerly Sendinblue) alongside growth equity investor General Atlantic, with Bpifrance and Bridgepoint remaining minority investors and management becoming the largest combined shareholder. The funding will support accelerated U.S. expansion, large-scale AI product investments and an intensified M&A strategy to scale Brevo's customer engagement SaaS platform globally.
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December 3, 2025
- Buyer
- Braemont Capital
- Target
- Royal Cup Coffee & Tea
- Industry
- Food & Beverage
- Location
- Alabama, United States
- Type
- Growth capital
Dallas-based Braemont Capital has made a strategic growth investment in Royal Cup Coffee & Tea, a nearly 130-year-old Birmingham roaster and distributor. The partnership will provide capital and operational support to expand Royal Cup's roasting and distribution capabilities and strengthen its presence across hospitality, foodservice, healthcare and convenience channels.
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December 3, 2025
- Buyer
- Oakley Capital
- Target
- Paraty Tech
- Industry
- Cloud & SaaS
- Location
- Andalusia, Spain
- Type
- Growth capital
Oakley Capital Fund VI has made a growth investment in Paraty Tech, a Malaga-founded cloud-based hotel demand generation platform. Oakley will support Paraty's international expansion and pursue strategic acquisitions to scale the business and broaden its product offering.
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- Buyer
- InTandem Capital Partners, HarbourVest Partners, Partners Capital, WestView Capital Partners
- Target
- The Phia Group
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Growth capital
InTandem Capital Partners completed an equity investment in The Phia Group, a Canton, Massachusetts-based leader in healthcare cost containment. HarbourVest Partners and Partners Capital joined as co-investors, while WestView Capital Partners remains a significant existing investor; advisors to the transaction included Houlihan Lokey and TripleTree.
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December 2, 2025
- Buyer
- ONE Bow River National Defense Fund (ONE Bow River)
- Target
- Odyssey Space Research, LLC
- Industry
- Aerospace & Defense
- Location
- Texas, United States
- Type
- Growth capital
ONE Bow River National Defense Fund made a strategic growth investment in Odyssey Space Research, a provider of spaceflight software and engineering services. The investment will support Odyssey's growth with government and commercial customers, and fund expansion into new mission areas and continued development of proprietary tools and software.
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December 2, 2025
- Buyer
- Arcline Investment Management
- Target
- American Casting Company
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Growth capital
Arcline Investment Management, a growth-oriented private equity firm, completed a strategic investment in American Casting Company (ACC), a Hollister, California-based provider of engineered investment castings for aerospace, defense, medical and energy applications. ACC will continue to be led by CEO Chris St. John; Arcline plans to support expansion of the company’s capabilities and capacity to meet rising demand from OEMs reshoring mission‑critical components. Janes Capital Partners served as financial advisor to the company.
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December 2, 2025
- Buyer
- Maven VCTs, Maven Capital Partners
- Target
- FITR
- Industry
- Healthcare Services
- Location
- England, United Kingdom
- Type
- Growth capital
Maven VCTs have made an initial £1.5 million growth capital investment in London-based HealthTech platform FITR. The funding will be used to accelerate product development, expand the team, and scale sales and marketing as FITR continues to grow its global coaching user base.
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December 1, 2025
- Buyer
- CVC DIF, DIF Infrastructure VIII
- Target
- Low Carbon
- Industry
- Renewable Energy
- Location
- United Kingdom
- Type
- Growth capital
Low Carbon, an independent power producer focused on renewable energy, has secured a landmark investment from CVC DIF. The deal (expected to close in Q4 2025) will provide committed capital to help Low Carbon expand its installed capacity across the UK and key European markets, including Germany and Poland, with CVC DIF taking a majority controlling stake.
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December 1, 2025
- Buyer
- ITOCHU Corporation (via subsidiary)
- Target
- Wood Partners
- Industry
- Real Estate
- Location
- Georgia, United States
- Type
- Growth capital
A subsidiary of ITOCHU Corporation has made a meaningful minority investment (19.5% stake) in Wood Partners to provide additional capital and strategic relationships. Wood Partners’ management will retain majority ownership, Fayez Sarofim & Co. will remain a significant minority holder, and Wood’s strategy and operations will remain unchanged; terms were not disclosed.
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November 27, 2025
- Buyer
- KKR, PSP Investments
- Target
- Lighthouse Learning Group
- Industry
- Education
- Location
- Maharashtra, India
- Type
- Growth capital
KKR has increased its investment in Lighthouse Learning Group, with additional participation from PSP Investments, as Lighthouse prepares for a new phase of platform expansion across major Indian metropolitan regions. KKR will remain the majority stakeholder while the fresh capital will support expansion of preschools and K‑12 schools, enhance teaching capabilities, technology initiatives, and operational systems.
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November 26, 2025
- Buyer
- TPG (The Rise Fund)
- Target
- Healthcademia
- Industry
- Education
- Location
- Spain
- Type
- Growth capital
TPG’s Rise Fund has made a minority growth investment in Healthcademia, joining majority shareholder G Square Capital to support the healthcare education provider’s next phase of expansion. The capital will be used to accelerate organic growth and pursue acquisitions as Healthcademia scales its technology-enabled healthcare education programs across Europe and the Americas.
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November 25, 2025
- Buyer
- SNH Capital Partners
- Target
- Arctic Fisheries
- Industry
- Food & Beverage
- Location
- New York, United States
- Type
- Growth capital
SNH Capital Partners has made a strategic growth investment in Arctic Fisheries, a Buffalo, New York-based importer and distributor of premium seafood products. Michael Kotok will remain a shareholder and continue to lead the company as SNH provides capital and operational resources to accelerate Arctic Fisheries' growth across existing and new markets.
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- Buyer
- Trive Capital
- Target
- Illumis Global
- Industry
- Professional Services
- Location
- South Carolina, United States
- Type
- Growth capital
Trive Capital made a strategic growth investment in Illumis Global to accelerate the company's expansion and establish a comprehensive vendor management platform. The investment will support Illumis' technology investments, broaden its audit and analytics capabilities, and enable new offerings such as a proprietary Group Purchasing Organization while keeping current management in place.
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November 23, 2025
- Buyer
- Vantage Data Centers, GIC (affiliate), Abu Dhabi Investment Authority (ADIA) (wholly owned subsidiary)
- Target
- Yondr Group (JHB1 Johor campus)
- Seller
- Yondr Group
- Industry
- Infrastructure
- Location
- Johor, Malaysia
- Type
- Growth capital
Vantage Data Centers completed a $1.6 billion equity investment into its Asia‑Pacific platform led by an affiliate of GIC and a wholly owned subsidiary of ADIA, and used part of that capital to close the acquisition of Yondr Group’s 300MW+ hyperscale campus (JHB1) in Sedenak Tech Park, Johor, Malaysia. The deal expands Vantage’s APAC platform to roughly 1GW of operational and planned capacity and brings more than 30 Yondr APAC team members into the Vantage organization.
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November 23, 2025
- Buyer
- TA Associates
- Target
- Aeris
- Industry
- Cloud & SaaS
- Location
- California, United States
- Type
- Growth capital
TA Associates has made a strategic minority growth investment in Aeris, a long-standing provider of SaaS-based IoT connectivity solutions. The capital will support Aeris' global expansion and product development—particularly in agentic AI, IoT security, and partner integrations—while TA will join Aeris' board; financial terms were not disclosed.
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November 21, 2025
- Buyer
- Winterford Capital LLC
- Target
- Florida Powertrain & Hydraulics, Inc.
- Seller
- Powers family (owners of Florida Powertrain)
- Industry
- Industrial Services
- Location
- Florida, United States
- Type
- Growth capital
Houston-based Winterford Capital has partnered with multi-generation, family-owned Florida Powertrain & Hydraulics to support the company's next chapter of growth. Heritage Capital Group served as exclusive advisor to Florida Powertrain; financial terms of the transaction were not disclosed.
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November 20, 2025
- Buyer
- LPL Financial Holdings Inc.
- Target
- Private Advisor Group
- Industry
- Wealth Management
- Location
- New Jersey, United States
- Type
- Growth capital
LPL Financial Holdings Inc. has acquired a minority ownership stake in Private Advisor Group, the Morristown, New Jersey–based RIA with $41.3 billion in AUM. Republic Capital Group served as the investment banking advisor to Private Advisor Group. The investment joins LPL with existing minority owner Merchant Investment Management and six legacy shareholders to deepen strategic ties and expand programs, technology, and operational support for advisors.
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November 19, 2025
- Buyer
- MS&AD Insurance Group Holdings, Mitsui Sumitomo Insurance (MSI)
- Target
- Barings
- Seller
- MassMutual
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Growth capital
MS&AD Insurance Group Holdings, through Mitsui Sumitomo Insurance (MSI), will acquire an 18% equity stake in Barings from MassMutual for about $1.44 billion in cash proceeds. MassMutual will retain an 82% stake and controlling governance rights, while Barings continues operating as an independent subsidiary under MassMutual.
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November 19, 2025
- Buyer
- Main Street Capital Corporation, The Nearshore Company
- Target
- Carmi Companies
- Industry
- Logistics & Distribution
- Location
- Texas, United States
- Type
- Growth capital
Main Street Capital Corporation invested $27.2 million (first-lien senior secured term debt plus a minority equity stake) in The Nearshore Company to support TNC’s acquisition of the Carmi Companies. The combination brings together TNC’s Mexico-based turnkey manufacturing and warehousing services with Carmi’s transportation, logistics and customs clearance capabilities to create an end-to-end cross-border operations platform.
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November 19, 2025
- Buyer
- Frontier Growth
- Target
- Sprocket Sports
- Industry
- Software
- Location
- Illinois, United States
- Type
- Growth capital
Frontier Growth has made a strategic growth investment in Sprocket Sports, a Chicago-based provider of an all-in-one software and services platform for youth sports club management. The investment will support Sprocket's product innovation and expansion of support for youth sports organizations, and Frontier Growth partner Tim Bechtold will join Sprocket's board.
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