Briefing Venture

The Briefing: SoftBank Launches SPAC, RealPage Acquired For $10.2B, And More

The Briefing

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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SoftBank preps filing of $500M to $600M SPAC

SoftBank submitted a filing to raise $525 million through its first special purpose acquisition company, or SPAC.

The firm is also said to be preparing at least two additional SPACs, which it plans to use to acquire a company and take it public.

SoftBank Investment Advisers, which manages the firm’s Vision Fund and Vision Fund 2, will reportedly be the SPAC sponsor, with Goldman Sachs and Citigroup managing the process.

M&A

  • RealPage to be acquired for $10.2B: RealPage, a provider of cloud-based software for managing multifamily real estate, plans to be acquired by private equity firm Thoma Bravo in an all-cash deal that values the publicly traded company at around $10.2 billion.
  • Lockheed to buy Aerojet Rocketdyne for $4.4B: Defense contractor Lockheed Martin will acquire Aerojet Rocketdyne, a rocket engine and missile manufacturer, in a deal valued at $4.4 billion including debt and net cash.
  • Hopin buys Topi: Virtual events platform Hopin announced Monday that it is acquiring Topi, a mobile event app. Topi co-founder and CEO David Aubespin will join Hopin as its VP of product and co-founder Eric Sellin will be Hopin’s principal engineer for mobile solution development. The acquisition price was not disclosed.

Funding rounds

  • Trigo secures $60M for checkout technology: Israel-based Trigo, which is developing a frictionless checkout technology, raised a $60 million Series B funding round led by 83North.
  • Peptilogics raises $35.4M for drug development: Peptilogics, a Pittsburgh-based clinical-stage biotechnology company that designs and develops novel peptide therapeutics, closed a $35.4 million Series B financing led by Presight Capital, along with participation from a new investor syndicate including Founders Fund and existing investor Peter Thiel.
  • Credit-building fintech Perch banks $2.5M: Perch, a Los Angeles-based no-cost platform that helps people build credit through nontraditional payments, announced a seed investment round of $2.5 million by a group of investors including Marcy Venture Partners.

Illustration: Dom Guzman

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