Introductory Page Statement
This page presents a curated overview of recent capital raising and transaction activity across multiple private market sectors. The information is intended to provide market context for companies and fund managers preparing for institutional fundraising and reflects publicly observed financing and acquisition activity.
In addition to publishing market intelligence, I work with selected clients through institutional investor databases and structured fundraising strategy and retainer based outreach engagements, focused on sectors where I maintain deep investor coverage.
Recent Capital Raises in the Health Care and Digital Health Sector: Q2-2025 to Q4-2025
Executive Summary
Capital markets activity across the Health Care Services and Digital Health sectors remained active throughout mid to late 2025, despite a more selective investment environment and heightened scrutiny around unit economics, regulatory exposure, and reimbursement pathways. Capital continued to flow toward platforms demonstrating scalable care delivery, technology enabled efficiency gains, and defensible clinical differentiation.
Key characteristics of the recent fundraising landscape include:
- Sustained private equity deployment into healthcare services platforms, particularly dental, behavioral health, pharmacy, and value-based care.
- Continued venture capital activity in digital health, with a clear bias toward later stage companies addressing clinician productivity, care coordination, diagnostics, and high acuity patient populations.
- Active consolidation via M&A and LBOs, reflecting strategic buyers and sponsors pursuing scale, operational leverage, and portfolio rationalisation.
- Early-stage capital remaining available for differentiated platforms in mental health, diagnostics, and AI enabled healthcare infrastructure.
For healthcare companies planning a 2026 capital raise, recent transaction data reinforces the importance of demonstrating durable demand, reimbursement clarity, and a credible pathway to scale.
Healthcare Services Capital Markets Activity
Overview of Recent Activity Healthcare services attracted capital across private equity growth investments, buyouts, and venture rounds. Activity was particularly concentrated in provider services, outpatient platforms,
Selected Healthcare Services Transactions – October to November 2025
Table 1: Selected Healthcare Services Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Carolina Lithotripsy | PE Growth | Specialty outpatient services | USD 0.05m |
| SF Dental Group | PE Growth | Dental services | Undisclosed |
| Endeavor Health Diamond Headache & Migraine Center | M&A | Specialty neurology care | Acquired |
| BestMind Behavioral Health | M&A | Behavioral health | Acquired |
| MyLaurel | Later Stage VC | In home and on demand care | USD 12m |
| Vitable | Later Stage VC | Urgent care and health coverage | Undisclosed |
| Amae Health | Series B / B-1 | Serious mental illness care | USD 25m |
| Generation Lab | Seed | Diagnostics and biological age testing | USD 11m |
| TripleMoon | Seed | Postpartum care services | USD 3.5m |
Commentary
Capital deployment in healthcare services continues to favor platforms addressing access gaps, complex patient populations, and specialty care. Behavioral health remains a priority area, supported by both private equity consolidation and venture backed platform development. Dental and outpatient services continue to attract sponsor capital due to predictable cash flows and fragmented market structures.
Healthcare Services Activity – Early October 2025
Table 2: Selected Healthcare Services Transactions (October 1st to 15th, 2025)
| Category | Notable Transactions | Strategic Observations |
| PE Growth | Avita Pharmacy, Dean Street Wellness | Pharmacy and integrative care expansion |
| Buyout / LBO | Chicago Research Center, IMA Medical Group | Sponsor led provider consolidation |
| Later Stage VC | Imagen Dental Partners, Elevation Autism Center | Specialty care platforms |
| Early and Seed | Foundation Health, Elite 7 Sports Medicine | Consumer and sports medicine services |
Commentary
Private equity sponsors remain active in provider roll ups and platform acquisitions, particularly where reimbursement visibility and geographic expansion potential are well established. Venture investors continue to back consumer focused healthcare technology platforms that improve engagement and care coordination.
Digital Health and HealthTech Capital Markets Activity
Overview of Recent Activity
Digital Health and HealthTech capital raising during 2025 reflected a bifurcated market. Later stage, clinically validated platforms with enterprise adoption continued to raise significant rounds, while early-stage companies increasingly relied on targeted seed, grant, or strategic capital.
Core areas of investor interest included:
- AI enabled diagnostics and compliance platforms
- Virtual and hybrid care delivery models
- Medical devices and connected health technologies
- Workforce enablement and clinician productivity tools
Selected Digital Health Transactions – October to November 2025
Table 3: Selected Digital Health Capital Raises and Transactions
| Company | Transaction Type | Focus Area | Capital Raised / Deal Value |
| Noryth Technologies | PE Growth | Robotics and AI healthcare | Undisclosed |
| Happypillar | M&A | Mental health applications | Acquired |
| Techfit Digital Surgery | M&A | Surgical workflow technology | Acquired |
| NextSense | Series A / Debt | Neurotechnology devices | USD 25.7m |
| ZetaGen Therapeutics | Series B1 | Regenerative medicine | USD 12.9m |
| Ampa Health | Early-Stage VC | Neurotechnology | USD 8.5m |
| Deleon | Seed | Biochemical monitoring | USD 0.7m |
| MyPhysicianPlan | Seed / Seed-1 | Primary care coverage | USD 2.3m |
Commentary
Neurotechnology, diagnostics, and AI driven healthcare infrastructure attracted meaningful capital, reflecting investor focus on differentiated clinical outcomes and defensible IP. M&A activity remains active as strategic buyers seek to integrate digital capabilities into broader healthcare ecosystems.
Digital Health M&A and Large-Scale Venture Rounds
Table 4: Selected Digital Health M&A and Late-Stage Rounds (Q2 to Q4 2025)
| Transaction | Deal Size | Strategic Rationale |
| DigitalOwl acquired by Datavant | Est. USD 200m | Medical data analytics scale |
| UST HealthProof acquired by HealthEdge | Est. USD 1.0bn | Enterprise healthcare administration |
| Abridge Series E | USD 315.9m | Clinical documentation and AI |
| Imagine Pediatrics Series B | USD 67m | High acuity pediatric virtual care |
| Harbor Health Series A3 | USD 130m | Integrated care delivery |
Commentary
Large scale transactions illustrate continued appetite for category leading digital platforms that integrate deeply with provider workflows or payer systems. Buyers and investors are prioritizing revenue visibility, enterprise adoption, and demonstrable clinical or operational impact.
Implications for 2026 Capital Raising Strategies
Healthcare and Digital Health companies planning a 2026 capital raise should consider the following strategic implications drawn from recent activity:
- Demonstrate reimbursement and regulatory clarity, particularly for care delivery and diagnostics platforms.
- Highlight defensible differentiation, including clinical outcomes, data assets, or workflow integration.
- Align capital strategy with maturity stage, recognizing that later stage capital remains available for proven models, while early-stage investors are increasingly selective.
- Position for consolidation, as both private equity and strategic acquirers continue to pursue scale and platform acquisitions.
Concluding Observations
Recent fundraising and transaction activity confirms that capital remains available across the Health Care and Digital Health sectors for companies that address clear clinical needs and demonstrate scalable, sustainable business models. While investor selectivity has increased, the depth and breadth of transactions through 2025 provide a constructive backdrop for companies targeting a 2026 raise.
A targeted investor outreach strategy, supported by relevant transaction comparables and a clear articulation of value creation, will be critical to successful capital formation in the current environment.
For further discussion on active investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Energy and Mineral Mining Sector: Q2-2025 to Q4-2025
Executive Summary
Capital markets activity across the Energy and Metals and Mining sectors remained resilient through 2025, supported by long term structural demand for critical minerals, energy security, grid resilience, and decarbonisation aligned infrastructure. Despite volatility in broader equity markets and a more selective capital environment, both sectors continued to attract significant capital across the full lifecycle, from early-stage exploration and seed rounds through to large scale mergers and acquisitions and private equity led platform builds.
Three clear themes emerge from the data reviewed:
- Sustained institutional appetite for development and growth capital, particularly in uranium, gold, copper, energy storage, grid infrastructure, and royalty-based business models.
- Active consolidation via M&A, driven by majors seeking reserve replacement, portfolio optimisation, and scale advantages.
- Growing role of venture capital and strategic investors, particularly in mining technology, advanced materials, nuclear, and energy storage platforms.
For companies targeting a 2026 capital raise, the market evidence supports a disciplined, well positioned approach with clear differentiation around asset quality, jurisdictional exposure, and scalability.
Metals, Minerals and Mining Capital Markets Activity
Overview of Recent Activity
Across Q4 2025 and the preceding 12-month period, metals and mining capital raises spanned PIPE financings, development capital, venture rounds, and several high value strategic acquisitions. Capital deployment was particularly strong in:
- Precious metals and uranium exploration and development
- Royalty and streaming businesses
- Mining technology and materials innovation
- Early stage exploration supported by seed and angel capital
Selected Transactions – Q4 2025
Table 1: Selected Metals and Mining Capital Raises (Q4 2025)
| Company | Transaction Type | Sector Focus | Capital Raised / Deal Value |
| Nevada Sunrise Metals | PIPE / Development Capital | Base & precious metals exploration | CAD 0.65m |
| Rio Silver | PIPE / Development Capital | Silver exploration | CAD 2.2m |
| EMX Royalty | M&A | Royalty and prospect generation | CAD 704.4m acquisition |
| Augusta Gold | M&A | Gold development | CAD 198.7m acquisition |
| Fabric8Labs | Later Stage VC | Advanced metal manufacturing | USD 50m |
| KoBold Metals | Series C Prime | Critical minerals exploration | USD 163.4m |
| GCR Group | Seed (Convertible) | Mineral extraction and processing | USD 5.0m |
| Silver Bow Mining | Seed | Underground mining technologies | USD 2.49m |
Commentary
The above transactions highlight continued investor interest in both asset backed mining companies and technology enabled platforms that improve efficiency, sustainability, or discovery success rates. The acquisition of EMX Royalty and Augusta Gold underscores strategic buyers’ willingness to deploy significant capital for high quality assets and scalable royalty structures.
KoBold Metals’ large Series C round further reflects growing institutional confidence in data driven and AI enabled exploration models, particularly for minerals critical to electrification and energy transition.
U.S. Metals and Mining Capital Raises – September to October 2025
Table 2: Selected U.S. Metals and Mining Transactions (September–October 2025)
| Category | Notable Transactions | Observations |
| Development Capital | Astra Exploration, Western Uranium & Vanadium | Strong focus on gold, silver, and uranium |
| Buyout / LBO | Forte Dynamics, Forte Analytical | PE backed consolidation of mining services |
| Corporate Financing | Evolve Strategic Element Royalties | Institutional appetite for royalty financing |
| Seed & Early VC | Firstelement Exploration, Gemdale Gold | Early capital remains available for credible teams |
Commentary
Uranium featured prominently across multiple financing rounds and acquisitions, reflecting renewed global interest in nuclear power and long-term supply security. The presence of private equity sponsors in mining services LBOs also signals confidence in steady cash flow segments adjacent to core extraction activities.
Energy Sector Capital Markets Activity
Overview of Recent Activity
The Energy sector experienced substantial capital inflows during 2025, particularly in grid scale infrastructure, energy storage, nuclear technologies, and upstream oil and gas platforms with operational efficiency mandates. Capital deployment was skewed towards larger ticket PE growth investments and strategic M&A, alongside continued venture funding for enabling technologies.
Selected Energy Capital Raises – Q4 2025
Table 3: Selected Energy Capital Raises (Q4 2025)
| Company | Transaction Type | Subsector | Capital Raised / Deal Value |
| Peregrine Energy | PE Growth | Energy storage and renewables | USD 447m |
| Nano Nuclear Energy | Development Capital | Nuclear energy | USD 400m |
| Valar Atomics | Later Stage VC | Advanced nuclear | USD 130m |
| Base Power | Series C VC | Residential energy services | USD 1.0bn |
| Fortify Grid | PE Growth | Grid resilience infrastructure | Undisclosed |
| Flatiron Energy | PE Growth | Utility scale storage | USD 540m |
Commentary
Large scale energy infrastructure attracted substantial capital commitments, particularly where assets align with grid resilience, decarbonisation, and long duration storage. Nuclear energy related platforms benefited from renewed policy support and institutional re engagement, evidenced by both development capital and venture funding.
M&A and Platform Consolidation
Table 4: Selected Energy M&A Transactions (2025)
| Acquirer | Target | Deal Value | Strategic Rationale |
| MPLX | Northwind Midstream Partners | USD 2.37bn | Permian infrastructure scale |
| SunPower | Ambia Solar | USD 37.5m | Residential solar expansion |
| Greenflash Infrastructure | Rock Rose Energy Storage | Undisclosed | Battery platform build |
| BKV | Bedrock Production | USD 370m | Production scale and efficiency |
Commentary
M&A activity remained robust, particularly in midstream, energy storage, and services. Strategic buyers and financial sponsors focused on scalable platforms with predictable cash flows, reinforcing the importance of clear growth pathways and asset quality for companies seeking capital.
Implications for 2026 Capital Raising Strategies
Based on the observed transaction landscape, companies planning a 2026 raise should consider the following positioning principles:
- Clearly articulate strategic relevance, particularly around energy security, critical minerals, or decarbonisation aligned infrastructure.
- Demonstrate asset scalability and jurisdictional quality, as these factors consistently underpin larger capital commitments.
- Align funding strategy to stage, with realistic expectations around ticket size, investor type, and timeline.
- Prepare for heightened selectivity, as institutional investors continue to prioritise differentiated assets and experienced management teams.
Concluding Remarks
The Energy and Metals and Mining sectors continue to benefit from strong structural tailwinds despite tighter capital conditions. The breadth of transactions across development capital, venture funding, and M&A illustrates that capital remains available for well positioned opportunities.
For companies seeking to raise capital in 2026, leveraging recent comparable transactions, aligning with active investor themes, and executing a targeted outreach strategy will be critical to achieving a successful outcome.
If you would like to discuss comparable transactions, active investors, or a tailored capital raising strategy for your business, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Real Estate and Construction Technology Sector: Q2-2025 to Q4-2025
Executive Summary
Capital markets activity across the Real Estate Technology and Construction Technology sectors remained resilient through mid to late 2025, despite higher interest rates, cautious underwriting standards, and a more selective venture capital environment. Capital continued to flow toward platforms demonstrating operational efficiency, asset level visibility, workflow automation, and clear monetization pathways tied to property ownership, development, and construction execution.
Investor interest was particularly concentrated in platforms addressing cost control, labour constraints, development feasibility, and transaction efficiency across residential, commercial, and infrastructure related real estate markets.
Key characteristics of the recent fundraising landscape include:
- Continued private equity and strategic acquisition activity targeting scaled property technology and construction software platforms.
- Active later stage venture funding for platforms tied directly to asset performance, lending, workforce management, and development execution.
- Early-stage venture capital focused on AI driven construction workflows, pre construction analytics, inspection technology, and real estate transaction infrastructure.
- Ongoing consolidation as incumbents and sponsors acquire specialized technology to enhance end to end platform capabilities.
- Seed and pre seed capital remaining available for highly targeted solutions addressing inefficiencies in fragmented real estate and construction markets.
For real estate and construction technology companies planning a 2026 capital raise, recent transaction data highlights the importance of demonstrating near term revenue relevance, clear customer adoption, and alignment with core asset owner or operator priorities.
Real Estate and Construction Technology Capital Markets Activity
Overview of Recent Activity
Real Estate and Construction Technology platforms attracted capital across private equity growth investments, mergers and acquisitions, and venture funding rounds throughout Q2 to Q4 2025. Activity was particularly strong in property management software, construction workflow automation, workforce platforms, development feasibility tools, and data driven inspection and compliance solutions.
Strategic buyers and sponsors remained active, pursuing acquisitions that enhance operational leverage, data visibility, and lifecycle control across development, leasing, construction, and asset management.
Selected Real Estate and Construction Technology Transactions
November 16 to December 31, 2025
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Property Meld | PE Growth | Property maintenance software | USD 1.65m |
| Reztark Design Studio | PE Growth | Real estate brokerage services | Undisclosed |
| June Homes | M&A | Residential rental technology | Acquired |
| LiveBy | M&A | Real estate data and content | USD 3.0m |
| Buildforce | Later Stage VC | Construction workforce platform | USD 7.67m |
| S2A Modular | Later Stage VC | Modular construction | USD 0.2m |
| Inspekt AI | Early-Stage VC | Construction inspection technology | Undisclosed |
| Muro | Early-Stage VC | Pre construction AI workflows | Undisclosed |
| BuildCheck AI | Seed | Construction design review AI | USD 5.9m |
| The Oceanview Group | Seed | Real estate development | USD 6.0m |
Commentary
Capital deployment during late 2025 reflects sustained investor appetite for platforms embedded directly within construction execution and property operations. Workforce availability, inspection automation, and design validation remain priority problem areas, particularly as developers and contractors seek to mitigate cost overruns and execution risk. Real estate development capital also continues to target operators with strong repositioning strategies and asset enhancement capabilities.
Selected Real Estate and Construction Technology Transactions – October 16 to November 15, 2025
Table 2: Selected Real Estate and Construction Technology Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Cityline | M&A | Property management platform | Acquired |
| BuildZoom | M&A | Construction analytics marketplace | Acquired |
| Genda | M&A | Construction site monitoring | Acquired |
| Arrived | Series B / Debt | Fractional real estate investing | USD 27.0m |
| RLS Capital | Convertible Debt | Private real estate lending | USD 8.97m |
| Doorvest | Later Stage VC | Residential real estate investing | Undisclosed |
| EZDocTracker | Early-Stage VC | Digital closing infrastructure | Undisclosed |
| HomeStakes | Early-Stage VC | Fractional real estate ownership | Undisclosed |
| Examen | Seed | Commercial property assessment | USD 3.91m |
| Pavewise | Seed | Construction project management | USD 2.5m |
Commentary
Transaction activity during this period underscores consolidation across property management, construction data, and investment platforms. Venture funding continues to favour platforms closely aligned with capital markets, lending, and transaction execution, reflecting investor preference for revenue linked to asset ownership and deal flow rather than discretionary software spend.
Selected Real Estate and Construction Technology Transactions
October 1 to October 15, 2025
Table 3: Selected Real Estate and Construction Technology Capital Raises and Transactions
| Category | Notable Transactions | Strategic Observations |
| M&A | Cert-In Software Systems, Putt Land Surveying | Vertical software consolidation |
| Later Stage VC | ConCntric, Green Canopy NODE | AI driven planning and sustainable development |
| Early-Stage VC | Boom, Make Ready Central, Ridley | Property operations and legal automation |
| Angel and Accelerator | Remodify, Algoma, Quotograph | Early validation of construction workflow tools |
Commentary
Early October activity highlights growing interest in AI driven pre construction planning, sustainable development platforms, and property operations automation. Accelerator participation reflects continued experimentation at the early stage, while later stage investors remain focused on platforms capable of scaling across fragmented owner and contractor ecosystems.
Selected Real Estate and Construction Technology Transactions – September 2025
Table 4: Selected Real Estate and Construction Technology Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| AnthemIQ | M&A | Commercial real estate CRM | Acquired |
| PassiveLogic | Series C / C-1 | Autonomous building systems | USD 74.0m |
| PredictAP | Later Stage VC | Real estate financial automation | USD 5.0m |
| Track3D | Series A | Construction monitoring AI | USD 10.0m |
| Balcony Technology Group | Seed | Blockchain real estate infrastructure | USD 11.83m |
Commentary
Later stage venture rounds and acquisitions during September reinforce investor focus on category defining platforms with deep operational integration. Autonomous building systems, construction analytics, and financial automation tools continue to attract capital as asset owners prioritise efficiency, cost control, and data driven decision making.
Implications for 2026 Capital Raising Strategies
Real Estate and Construction Technology companies preparing for a 2026 capital raise should consider the following strategic implications derived from recent activity:
- Clearly articulate how the platform impacts asset level economics, cost reduction, or execution certainty.
- Demonstrate customer adoption among owners, developers, contractors, or lenders rather than peripheral market participants.
- Align capital strategy with company maturity, recognizing that later stage capital remains accessible for proven revenue models, while early-stage investors are increasingly selective.
- Position strategically for consolidation, as private equity sponsors and strategic buyers continue to acquire specialized platforms to build integrated operating ecosystems.
- Support fundraising narratives with relevant transaction comparables to validate valuation expectations and investor appetite.
Concluding Observations
Recent fundraising and transaction activity confirms that capital remains available across the Real Estate and Construction Technology sectors for companies delivering tangible operational value and clear monetization pathways. While underwriting discipline has increased, the breadth of transactions through late 2025 provides a constructive foundation for companies targeting institutional capital in 2026.
A focused investor outreach strategy, supported by sector specific transaction intelligence and a well-defined value creation narrative, will be essential for successful capital formation in the current environment.
For further discussion on active investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Artificial Intelligence (AI) Technology Sector: Q2-2025 to Q4-2025
Executive Summary
Capital markets activity across the Artificial Intelligence sector remained robust through Q2 to Q4 2025, supported by sustained enterprise adoption, expanding use cases across regulated industries, and continued strategic interest from private equity sponsors, large technology firms, and sector focused venture capital investors. Despite tighter underwriting standards and increased scrutiny around unit economics, capital continued to concentrate around applied AI platforms with clear revenue models, defensible data advantages, and embedded operational relevance.
Investor demand was particularly strong for AI platforms addressing enterprise workflow automation, legal and financial decision support, healthcare operations, cybersecurity, data infrastructure, and vertical specific software applications. Across stages, capital deployment favoured solutions demonstrating measurable productivity gains, risk reduction, or cost efficiency rather than speculative or generalized AI tooling.
Key characteristics of the recent fundraising landscape include:
• Continued private equity growth capital and strategic acquisition activity targeting scaled, revenue generating AI platforms.
• Active later stage venture funding for AI companies with enterprise contracts, regulated industry exposure, and demonstrable market leadership.
• Early stage venture capital focused on verticalized AI applications across legal, healthcare, finance, cybersecurity, and industrial operations.
• Ongoing consolidation as strategic buyers and sponsors acquire specialized AI capabilities to enhance broader platform offerings.
• Sustained availability of seed and pre seed capital for narrowly focused AI solutions addressing defined operational inefficiencies.
For Artificial Intelligence companies planning a 2026 capital raise, recent transaction data reinforces the importance of clear monetization pathways, enterprise customer validation, and alignment with investor sector specialization.
Artificial Intelligence Capital Markets Activity
Overview of Recent Activity
Artificial Intelligence platforms attracted capital across private equity growth investments, mergers and acquisitions, and venture funding rounds throughout Q2 to Q4 2025. Activity spanned multiple verticals including legal technology, healthcare automation, cybersecurity, data analytics, enterprise workflow software, and consumer applications.
Strategic buyers, private equity sponsors, and late-stage venture investors remained active, particularly in transactions that enhance data ownership, workflow integration, compliance capabilities, and mission critical enterprise functionality.
Selected Artificial Intelligence Transactions – November 16 to December 31, 2025
Table 1: Selected Artificial Intelligence Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| First Insight | PE Growth | Retail experience analytics | Development capital |
| Trusted Space | PE Growth | Defense and space simulation | Development capital |
| Blue Eye Monitoring | M&A | AI security systems | Acquired by Motorola Solutions |
| Marigold Engage | M&A | Marketing automation software | USD 325m acquisition |
| Harvey AI | Series F | Legal technology AI | EUR 160m |
| Luma AI | Series C | Multimodal generative AI | USD 900m |
| Bear AI | Early-Stage VC | AI search performance analytics | Undisclosed |
| Futureproof | Early-Stage VC | AI bookkeeping software | USD 150k |
| BoodleBox | Seed | AI predictive analytics | USD 5.0m |
| Joey AI | Seed | AI matchmaking platform | Undisclosed |
Commentary
Late 2025 activity highlights strong investor appetite for AI platforms embedded within professional services, enterprise workflows, and content creation. Large later stage rounds reflect confidence in category leaders, while seed and early-stage funding continues to support specialized applications addressing discrete user needs.
Selected Artificial Intelligence Transactions – October 16 to November 15, 2025
Table 2: Selected Artificial Intelligence Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| dataland | PE Growth | AI data visualization and arts | Development capital |
| Labelbox | PE Growth | AI data infrastructure | Development capital |
| studyOS | M&A | Clinical AI data management | Acquired |
| Tyms | M&A | AI finance automation | Acquired |
| SenseNet | Series A | AI wildfire detection | USD 14.0m |
| Tavus | Series B | Human computing AI | USD 39.12m |
| Streetbeat | Series A | AI investment platform | USD 23.29m |
| WisdomAI | Series A1 | Enterprise AI analytics | USD 50.0m |
| BluePill | Seed | AI customer analytics | USD 6.0m |
| Theo AI | Seed Plus | Legal outcome prediction | USD 3.37m |
Commentary
Transaction activity during this period reflects growing institutional interest in AI infrastructure and analytics platforms supporting regulated industries and enterprise decision making. Venture funding remains selective, favouring platforms with scalable deployment models and clear enterprise value propositions.
Selected Artificial Intelligence Transactions – September to Early October 2025
Table 3: Selected Artificial Intelligence Capital Raises and Transactions
| Category | Notable Transactions | Strategic Observations |
| M&A | Inky, Qualifi, R2Decide | Security, HR, and sales automation consolidation |
| Later Stage VC | Simple App, Atomic Industries | AI in healthcare and manufacturing |
| Early-Stage VC | Huxe, Intelo.AI, Peer | Consumer and enterprise AI workflows |
| Seed and Accelerator | OutcomesAI, Diligent Robotics | Healthcare focused AI validation |
Commentary
Mid to late Q3 activity underscores investor focus on applied AI in healthcare delivery, manufacturing automation, and enterprise productivity. Sponsor backed acquisitions continue to validate exit pathways for verticalized AI platforms.
Implications for 2026 Capital Raising Strategies
Artificial Intelligence companies preparing for a 2026 capital raise should consider the following strategic implications derived from recent transaction activity:
• Clearly demonstrate how AI capabilities translate into measurable business outcomes for customers.
• Prioritize enterprise or institutional customer validation over user growth alone.
• Align fundraising stage and valuation expectations with demonstrated revenue maturity and deployment scale.
• Position strategically for consolidation, as private equity and strategic buyers continue to acquire specialized AI platforms.
• Support fundraising narratives with relevant AI sector transaction comparables to validate investor appetite.
Concluding Observations
Recent fundraising and acquisition activity confirms that capital remains available across the Artificial Intelligence sector for companies delivering tangible operational value, defensible data advantages, and clear commercialization strategies. While underwriting discipline has increased, transaction breadth through late 2025 provides a constructive outlook for AI companies seeking institutional capital in 2026.
A focused investor outreach strategy, supported by sector specific transaction intelligence and disciplined positioning, will remain essential for successful capital formation in the current environment.
For further discussion on active AI investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Cryptocurrency / Blockchain Sector: Q2-2025 to Q4-2025
Executive Summary
Capital markets activity across the Cryptocurrency and Blockchain Technology sectors remained resilient through mid to late 2025. Despite broader macroeconomic shifts, capital continued to flow toward platforms demonstrating robust infrastructure, cross-chain interoperability, and institutional-grade financial tools.
Investor interest was particularly concentrated in platforms addressing decentralized finance (DeFi) efficiency, real-world asset (RWA) tokenization, and consumer-facing crypto applications. In Q3 2025 alone, the sector saw record median deal sizes of $4.5 million and an explosive growth in the stablecoin market cap, which surpassed $300 billion by September.
Key characteristics of the recent fundraising landscape include:
- Institutional Infrastructure Focus: Sustained funding for secure custody, stablecoin infrastructure, and compliance-ready middleware.
- Consumer Crypto Growth: Successful Series A rounds for consumer-focused trading apps and gaming studios.
- Early-Stage Resiliency: Accelerators remained active in backing decentralized autonomous organizations (DAOs) and niche infrastructure protocols.
- M&A Consolidation: Major players like Coinbase, Ripple, and Kraken led a record year for acquisitions, totaling over $8.6 billion by November 2025.
Cryptocurrency and Blockchain Technology Capital Markets Activity
Overview of Recent Activity
The digital asset sector attracted significant capital across various deal types throughout the latter half of 2025. Activity was bolstered by a renewed focus on Bitcoin-native infrastructure (BTCFi) and the maturation of DeFi protocols. Strategic buyers pursued acquisitions that enhance their core payment and infrastructure offerings.
Selected Cryptocurrency/Blockchain Transactions: November 16 to December 31, 2025
Table 1: Selected Cryptocurrency/Blockchain Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Ostium | Series A | RWA Perpetual Futures | USD 24.0m |
| Commonware | Early-Stage VC | Blockchain Infrastructure | USD 25.0m |
| Lexe | Early-Stage VC | Digital Payment Platform | USD 0.99m |
| BeethovenX DAO | Early-Stage VC | DeFi Infrastructure | Venture Funding |
| Estfor Kingdom | Early-Stage VC | Blockchain Gaming | Venture Funding |
| Couch Labs | Angel | Stablecoin Billing Platform | USD 0.50m |
| North Investments | Angel | Digital Asset Brokerage | USD 0.76m |
| Cypator | Accelerator | Institutional Trading | Joined GC Tech |
| Nuva | Accelerator | Ethical Insurance (DeFi) | USD 3k + Incubation |
| Valley Arcade | Accelerator | Arcade Gaming Platform | Joined LvlUp |
Commentary
Capital deployment during late 2025 reflects a sustained appetite for platforms that bridge the gap between traditional finance and on-chain liquidity. The $24M round for Ostium highlights the growing importance of Real-World Assets (RWA), while specialized utility – such as compliant billing and ethical insurance – is gaining significant traction.
Selected Cryptocurrency/Blockchain Transactions: October 1 to November 15, 2025
Table 2: Selected Cryptocurrency/Blockchain Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| FOMO | Series A-1 | Consumer Trading App | USD 17.0m |
| BitcoinOS | Early-Stage VC | Institutional BTCFi | USD 10.0m |
| GLHF | Early-Stage VC | Crypto Gaming Studio | USD 2.3m |
| Avici | Early-Stage VC | Crypto Credit/Spending | USD 3.5m |
| 21bitcoin | M&A | AI Crypto Intelligence | Acquired by Alpha Edge |
| Oasis Pro Markets | M&A | Digital Securities/RWA | Acquired by Ondo |
| Lava | Later Stage VC | Bitcoin Payments | USD 29.5m |
| CipherOwl | Seed | Regulatory Intelligence | USD 15.0m |
| Tria | Pre-Seed | Chain Abstraction | USD 12.0m |
Commentary
The mid-Q4 period was defined by high-profile “Consumer Crypto” wins. This signifies a shift back toward user-acquisition models that prioritize simplified UI and social features. Simultaneously, significant acquisitions like Oasis Pro Markets by Ondo underscore the move toward institutionalizing RWA on-chain.
Selected Cryptocurrency/Blockchain Transactions: June 1 to June 30, 2025
Table 3: Selected Cryptocurrency/Blockchain Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Kalshi | Series B | Prediction Markets | USD 185.0m |
| Digital Asset | Strategic | Institutional Blockchain | USD 135.0m |
| World Liberty Finance | Private Sale | Stablecoin Issuance | USD 100.0m |
| Eigen Labs | Strategic | ZK Tooling / Restaking | USD 70.0m |
| Zama | Series B | Homomorphic Encryption | USD 57.0m |
| Distinct Possibility | Venture Round | Blockchain Gaming | USD 30.5m |
| TOP (Open Platform) | Series A | Wallet Infrastructure | USD 28.5m |
| The Blockchain Group | Private Sale | Bitcoin Treasury | USD 13.0m |
| Datagram | Pre-Seed | DePIN Infrastructure | USD 4.0m |
Commentary
June 2025 was a standout month for “Utility-at-Scale,” led by Kalshi’s $185M round following its regulatory wins in the U.S. This period marked a clear trend: investors are placing a premium on platforms that have successfully navigated regulatory hurdles or are building foundational privacy and security tech, such as Zama’s work in Fully Homomorphic Encryption.
Implications for 2026 Capital Raising Strategies
Companies preparing for a 2026 capital raise should consider the following strategic implications:
- Utility-First Narratives: Investors are prioritizing “revenue relevance.” Platforms must articulate how they solve specific technical or regulatory barriers.
- Institutional Alignment: Infrastructure providers should emphasize security and compliance readiness, as evidenced by the steady flow of capital into custodial and institutional-grade DeFi tools.
- Consolidation Readiness: With M&A at record highs, early-stage companies should position themselves as modular “plug-and-play” additions to larger fintech ecosystems.
Concluding Observations
The fundraising landscape through late 2025 confirms that while the “hype-cycle” of previous years has cooled, the “utility-cycle” is in full swing. Capital is readily available for founders who can prove their technology impacts the bottom line – whether through reducing transaction friction, enabling new asset classes, or securing institutional flows.
For further discussion on active Crypto / Blockchain investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Data Center / Digital Infrastructure Sector: Q2 2025-Q4 2025
Executive Summary
Capital markets activity across the Data Center and Digital Infrastructure sectors remained exceptionally strong through mid to late 2025, supported by sustained hyperscale demand, accelerating artificial intelligence workloads, and long term commitments from institutional infrastructure investors. Despite elevated interest rates and selective underwriting standards, capital continued to concentrate around scalable facilities, power dense designs, and platforms capable of supporting GPU intensive computing.
Investor interest was particularly concentrated in large scale development capital, leveraged buyouts of stabilized assets, and infrastructure platforms aligned with cloud, AI, and enterprise demand. Q3 and Q4 2025 were characterized by several landmark transactions, including multi billion dollar buyouts and significant development financings backed by global sovereign wealth funds and pension capital.
Key characteristics of the recent fundraising landscape include:
• AI and Hyperscale Demand: Strong capital allocation toward high density, power secure facilities supporting AI and cloud workloads.
• Institutional Infrastructure Capital: Continued dominance of private equity, infrastructure funds, and sovereign investors in large scale acquisitions and developments.
• M&A Consolidation: Active consolidation across colocation platforms, cooling technologies, and infrastructure manufacturing.
• Early Stage Innovation: Venture capital selectively backing software, thermal management, and energy interface technologies supporting next generation data centers.
Data Center Capital Markets Activity
Overview of Recent Activity
The U.S. data center sector attracted significant capital across buyout, growth equity, venture, and strategic acquisition transactions during the second half of 2025. Activity was driven by structural demand for compute capacity, long duration contracted revenues, and the sector’s positioning as critical infrastructure within the digital economy.
Strategic acquirers and financial sponsors focused on expanding geographic footprints, securing power availability, and integrating advanced cooling and energy management capabilities. At the same time, early stage capital targeted enabling technologies that improve efficiency, sustainability, and performance at scale.
Selected Data Center Transactions: November 16 to December 31, 2025
Table 1: Selected Data Center Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Nexus Data Centers | PE Growth / Expansion | Scalable Data Center Infrastructure | Development Capital from Transition Equity Partners |
| Stack Infrastructure | PE Growth / Expansion | Digital Infrastructure Services | Development Capital from Skip Capital |
| PureColo | M&A | Colocation and Hosting Services | Acquired by Carrier Connect Data Solutions for CAD 8.5m |
| Overwatch Capital | Corporate Financing | High Density AI Data Centers | Financing from Corporate Investor |
| Aligned Data Centers | Buyout / LBO | Modular Data Centers and Cooling | $40bn LBO backed by Nvidia, Microsoft, BlackRock, KIA, Temasek, MGX, xAI and GIP |
| Two Data Centers, Santa Clara | Buyout / LBO | U.S. Data Center Assets | $97m LBO by Centersquare backed by Brookfield Infrastructure Partners |
| 639 Solar | Later Stage VC | Renewable Powered Data Centers | USD 0.40m Convertible Debt |
| Aravolta | Early Stage VC | Data Center Management Software | USD 5.1m from Banyan Ventures, Pioneer Fund, Crucible Capital |
| Verrus | Early Stage VC | Electrical and Cooling Architecture | Venture Funding from Sidewalk Infrastructure Partners |
| Hammerhead AI | Seed | AI Data Center Infrastructure Platform | USD 10.0m Seed led by Buoyant Ventures |
Commentary
Late 2025 activity underscores the strategic importance of data centers as core infrastructure assets. The $40 billion Aligned Data Centers transaction represents one of the largest digital infrastructure buyouts on record and highlights the convergence of hyperscalers, sovereign capital, and institutional investors around AI driven capacity expansion.
Selected Data Center Transactions: October 16 to November 15, 2025
Table 2: Selected Data Center Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Carrier Connect Systems | PIPE / Private Placement | Tier II/III Colocation Facility | USD 4.34m Development Capital |
| ZT Systems | M&A | Data Center Infrastructure Manufacturing | Acquired by Sanmina for USD 3.0bn |
| Northshore IO | M&A | Data Center Analytics and Design | Acquired by Salute |
| Chilldyne | M&A | Liquid Cooling Systems | Acquired by Daikin Industries |
| DataHive (DataHiveOne) | Buyout / LBO | Canadian Data Center Asset | Acquired by Cologix backed by Stonepeak Partners |
| TekPark | Buyout / LBO | 100MW Data Center Campus | Acquired by TierPoint backed by TA Associates, Argo Infrastructure Partners, and OTPP |
| Drut | Later Stage VC | Data Center Design Systems | Venture Funding from Stata Capital Partners |
| Accelsius | Early Stage VC | Direct to Chip Liquid Cooling | USD 25.0m from Johnson Controls International |
| Emerald AI | Seed | Grid and Data Center Interface Platform | USD 52.17m Seed led by Radical Ventures and Lowercarbon Capital |
| XPerf | Accelerator | GPU Performance Optimization | Joined Round Rock Chamber Fall 2025 Cohort |
Commentary
This period reflects intensified M&A activity in thermal management and infrastructure manufacturing. Strategic buyers focused on securing proprietary cooling and hardware capabilities as power density requirements continue to rise across AI focused facilities.
Selected Data Center Transactions: October 1 to October 15, 2025
Table 3: Selected Data Center Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Centersquare Portfolio | Buyout / LBO | 10 Data Centers Across U.S. and Canada | USD 1.0bn LBO backed by Brookfield Infrastructure Partners |
Commentary
Portfolio acquisitions remained a preferred strategy for institutional sponsors seeking immediate scale, diversified tenant exposure, and long term contracted cash flows.
Selected Data Center Transactions: September 2025
Table 4: Selected Data Center Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| TOR5 Data Center | Buyout / LBO | Canadian Colocation Facility | Acquired by Cologix backed by Stonepeak Partners |
| Hillsboro 6 | Buyout / LBO | Hyperscale Data Center Facility | Acquired by Flexential backed by GI Partners and Morgan Stanley Infrastructure Partners |
Selected Data Center Transactions: July 2025
Table 5: Selected Data Center Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| GigaIO | Later Stage VC | Network Architecture and Connectivity | USD 21.0m Series B led by Impact Venture Capital |
| Emerald AI | Seed | Grid to Data Center Interface Platform | USD 24.5m Seed led by Radical Ventures |
Implications for 2026 Capital Raising Strategies
Companies preparing for a 2026 capital raise in the data center sector should consider the following strategic implications:
• Power and Density Narrative: Investors expect detailed articulation of power sourcing, redundancy, and density capabilities.
• Institutional Readiness: Capital providers prioritize platforms with contracted revenues, proven operating teams, and regulatory clarity.
• AI Alignment: Demonstrating relevance to AI, GPU workloads, and cloud expansion is increasingly critical.
• Exit Optionality: With consolidation accelerating, positioning assets or technologies as strategic acquisition targets is essential.
Concluding Observations
The fundraising environment through late 2025 confirms that data centers have firmly established themselves as a core institutional asset class. Capital availability remains deep for platforms that combine scalability, power security, and operational execution. As AI adoption accelerates into 2026, investor competition for differentiated data center assets and enabling technologies is expected to intensify further.
For further discussion on active Data Center investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the Clean Energy Sector: Q2 2025 – Q4 2025
Executive Summary
Capital markets activity across the CleanTech and Clean Energy sectors remained robust through mid to late 2025, supported by sustained policy alignment, infrastructure driven demand, and increasing institutional allocation toward decarbonization themes. Despite continued macroeconomic uncertainty, capital flowed decisively toward platforms addressing grid resilience, energy storage, water and wastewater treatment, carbon management, and next generation power generation technologies.
Investor interest was particularly concentrated in large scale development capital, late stage venture rounds supporting proven technologies, and strategic acquisitions of enabling platforms across energy efficiency, renewable generation, and resource optimization. The period was also marked by sustained activity in early stage venture and seed financing for climate software, hydrogen, advanced materials, and nature based solutions.
Key characteristics of the recent fundraising landscape include:
• Infrastructure Scale Capital: Significant development capital deployed into grid scale storage, renewable power, and clean baseload technologies.
• Strategic M&A Activity: Acquisitions targeting differentiated intellectual property in cooling, biomass, water, and energy efficiency.
• Late Stage Validation: Large venture rounds backing geothermal, fusion, hydrogen, and advanced energy storage platforms.
• Early Stage Innovation: Continued seed and Series A funding for climate software, carbon measurement, and circular economy technologies.
CleanTech and Clean Energy Capital Markets Activity
Overview of Recent Activity
The U.S. CleanTech and Clean Energy sector attracted sustained capital across private equity growth, venture capital, PIPE transactions, and strategic acquisitions during the second half of 2025. Activity reflected the sector’s dual role as both a technology growth market and a long duration infrastructure asset class.
Strategic buyers focused on acquiring platforms that accelerate decarbonization while delivering near term commercial viability. Financial sponsors and venture investors emphasized scalability, regulatory alignment, and clear pathways to infrastructure integration or strategic exit.
Selected CleanTech and Clean Energy Transactions: November 16 to December 31, 2025
Table 1: Selected CleanTech and Clean Energy Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| BioFiltro | PE Growth / Expansion | Industrial and Municipal Water Filtration | USD 35.0m Development Capital from Jordanelle Capital |
| Weathermatic | PE Growth / Expansion | Smart Irrigation Systems | Development Capital from Rock Hill Capital and True West Capital Partners |
| Hexas Biomass | M&A | Sustainable Biomass Crops | Acquired by Bioleum for USD 6.5m |
| Microtek Laboratories | M&A | Thermal Energy Storage Materials | Acquired by Alexium International Group for USD 2.17m |
| Fervo Energy | Later Stage VC | Geothermal Power | USD 462.0m Series E led by B Capital Group |
| Hago Energetics | Later Stage VC | Clean Hydrogen Production | Venture Funding from Aerion Capital |
| Azzera | Early Stage VC | Carbon Compliance and Offsetting Software | USD 0.80m Venture Funding |
| pH7 Technologies | Early Stage VC | Sustainable Metals Extraction | USD 25.6m Series B led by F-Prime Capital |
| 9Zero | Seed | Climate Community Platform | USD 1.08m Seed Funding |
| Perca | Seed | Nature Based Wastewater Treatment | USD 0.17m Seed Funding |
Commentary
Late 2025 activity reflects sustained investor confidence in proven climate infrastructure platforms. Fervo Energy’s $462 million Series E highlights strong institutional appetite for scalable geothermal solutions, while acquisitions across biomass and thermal storage demonstrate continued strategic interest in enabling technologies that improve efficiency across the built environment.
Selected CleanTech and Clean Energy Transactions: October 16 to November 15, 2025
Table 2: Selected CleanTech and Clean Energy Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| ReVolve Renewable Power | PIPE | Renewable Power Development | CAD 3.04m Development Capital |
| Ambia Solar | M&A | Residential Solar Systems | Acquired by SunPower for USD 37.5m |
| Pachama | M&A | Forest Carbon Monitoring | Acquired by Carbon Direct |
| Greenbutts | Later Stage VC | Biodegradable Consumer Products | USD 0.71m Venture Funding |
| Moment Energy | Later Stage VC | Energy Storage Systems | Venture Funding from Wind Ventures |
| Sawa Energy | Later Stage VC | Distributed Solar Services | EUR 2.5m Venture Funding |
| Valar Atomics | Early Stage VC | Atomic Energy Systems | USD 130.0m Venture Funding |
| ZrO Waste Group | Early Stage VC | Waste to Energy Systems | Venture Funding from Impact Foundation |
| Revo Zero | Seed | Fuel Reduction Technology | USD 1.8m Seed Funding |
| Witching Hour | Pre-Seed | Wildfire Prevention and Grid Resilience | Pre-Seed Funding from Climate Capital |
Commentary
This period underscores the breadth of CleanTech investment themes, spanning consumer sustainability, grid resilience, and advanced nuclear concepts. The $130 million raise by Valar Atomics signals renewed investor interest in next generation baseload energy solutions.
Selected CleanTech and Clean Energy Transactions: October 1 to October 15, 2025
Table 3: Selected CleanTech and Clean Energy Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Energy Vault Holdings | PIPE | Grid Scale Energy Storage | USD 300.0m Development Capital from Oman Investment Corporation |
| Charbone Hydrogen | PIPE | Green Hydrogen Production | CAD 1.01m Development Capital |
| Elemental Clean Fuels | Buyout / LBO | Clean Fuel Technology | Acquired by Quinbrook Infrastructure Partners |
| Blu Dot Systems | M&A | Industrial Solar Farms | Acquired by Nu E Power for CAD 4.59m |
| Membrion | Later Stage VC | Industrial Water Membranes | USD 20.0m Series B-1 and B-2 |
| Cowboy Clean Fuels | Later Stage VC | Renewable Natural Gas | USD 4.34m Venture Debt |
| Rare Earth Technologies | Early Stage VC | Critical Minerals Refining | USD 1.45m Convertible Debt |
| Coast Fibers | Early Stage VC | Sustainable Textiles | USD 0.84m Series A |
| AWEC | Grant / Accelerator | Wind Energy Technology | USD 20k Grant Funding |
| EQORE | Seed | Commercial Energy Storage | USD 1.3m Seed Funding |
Commentary
Early October activity was defined by concentrated infrastructure investment and selective strategic acquisitions. The $300 million PIPE into Energy Vault reaffirmed institutional confidence in grid scale storage, while Charbone Hydrogen’s raise underscored ongoing interest in green hydrogen for grid stability and decarbonization.
Acquisitions focused on near term efficiency and emissions reduction, with infrastructure capital targeting captive renewables and deployable clean energy assets. Venture funding remained disciplined, favoring industrial platforms with clear commercial and scalability profiles.
Selected CleanTech and Clean Energy Transactions: September 2025
Table 4: Selected CleanTech and Clean Energy Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| ESGold | PIPE | Environmentally Focused Resource Processing | CAD 8.0m Development Capital |
| Graftech International | Strategic Investment | Graphite Electrodes | INR 1,681.3m Strategic Stake Acquisition |
| 2050 Partners | Buyout / LBO | Energy Efficiency Consulting | Acquired by West Monroe Partners backed by Blue Owl Capital |
| Pulsed Hydraulics | M&A | Water and Wastewater Treatment | Acquired by Parkson |
| Xheme | Later Stage VC | Specialty Chemicals | USD 0.04m Venture Funding |
| Heartland | Later Stage VC | Wastewater Treatment Technology | USD 7.15m Venture Funding |
| EV Realty | Early Stage VC | Fleet Charging Infrastructure | USD 75.0m Venture Funding |
| Fourth Power | Early Stage VC | Thermal Battery Storage | USD 20.0m Series A Plus led by Munich Re Ventures |
| Power to Hydrogen | Accelerator / Grant | Hydrogen Electrolyzers | USD 0.16m Grant Funding |
| TriplePoint | Seed | Underground Energy Storage | CAD 4.57m Seed Funding |
Commentary
September transactions reflected the convergence of CleanTech with industrial services, materials, and grid modernization. PIPE investments in resource processing and graphite electrode production underscored focus on supply chain resilience for electrification and low carbon manufacturing, with Graftech International highlighting critical materials in heavy industry decarbonization.
Buyout activity centered on advisory and services platforms supporting the energy transition, while venture capital focused on grid scale charging, thermal storage, and wastewater treatment. Public and private backed hydrogen initiatives reinforced alignment around deployment.
Selected CleanTech and Clean Energy Transactions: July to August 2025
Table 5: Selected CleanTech and Clean Energy Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Streamline Innovations | PE Growth / Expansion | Water Treatment for Energy | Development Capital from Select Milk Producers and Eldon Pass |
| Empery Digital | PIPE | Electric Off Road Vehicles | USD 501.43m Private Placement |
| Heliogen | M&A | Solar Thermal Energy | Acquired by Zeo Energy for USD 10.0m |
| General Fusion | Later Stage VC | Fusion Energy | USD 22.0m Venture Funding |
| Natel Energy | Later Stage VC | Hydropower Systems | USD 15.37m Venture Funding |
| Cuby Technologies | Later Stage VC | Sustainable Manufacturing | USD 16.98m Series B |
| Reframe Systems | Accelerator / VC | Net Zero Construction Materials | USD 26.0m Series A |
| CIBO Technologies | Grant | Agricultural Data Platforms | USD 80.0m Grant Funding |
| XL Batteries | Seed | Long Duration Batteries | USD 15.17m Seed Funding |
| American Ostrich Farms | Angel | Sustainable Agriculture | USD 3.0m Angel Funding |
Implications for 2026 Capital Raising Strategies
CleanTech and Clean Energy companies preparing for a 2026 capital raise should consider the following strategic implications:
• Infrastructure Alignment: Investors prioritize solutions that integrate seamlessly into existing energy, water, and industrial systems.
• Commercial Proof Points: Demonstrating operational deployments and contracted revenue is increasingly critical.
• Policy and Incentive Readiness: Capital providers favor platforms positioned to benefit from regulatory and incentive frameworks.
• Exit Visibility: Strategic acquisition pathways are becoming as important as IPO optionality.
Concluding Observations
The CleanTech and Clean Energy fundraising landscape through late 2025 confirms the sector’s evolution from speculative innovation to institutional infrastructure deployment. Capital remains readily available for companies that combine technical differentiation with scalability and commercial execution. As decarbonization efforts accelerate into 2026, investor competition for high quality clean energy assets and platforms is expected to intensify.
For further discussion on active Clean Energy investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
Recent Capital Raises in the FinTech Sector: Q2 2025 to Q4 2025
Executive Summary
Capital markets activity across the U.S. FinTech sector remained active from Q2 through Q4 2025, supported by sustained private equity buyout activity, disciplined venture capital deployment, and continued strategic M&A by large financial and technology platforms. Despite tighter underwriting standards and greater scrutiny on unit economics, capital continued to flow toward platforms demonstrating regulatory alignment, embedded finance capabilities, workflow automation, and infrastructure-level relevance to financial institutions and enterprises.
Investor interest was particularly concentrated in payments infrastructure, digital banking software, regulatory and compliance tooling, and verticalized FinTech solutions serving healthcare, insurance, creators, and small to mid-sized enterprises. Buyout activity remained robust, reflecting sponsor appetite for cash-generative platforms with defensible market positions, while venture investors focused on platforms addressing operational efficiency, licensing complexity, and monetization of financial data.
Key characteristics of the recent FinTech fundraising landscape include:
- Sustained Buyout Activity: Continued LBOs of software and services platforms embedded in financial operations, risk management, and payments.
- Infrastructure and Compliance Focus: Strong venture interest in payment rails, licensing platforms, regulatory intelligence, and banking APIs.
- Verticalized FinTech Expansion: Capital flowing toward industry-specific solutions across insurance, healthcare billing, creator economy, and enterprise finance.
- Strategic M&A by Platforms: Acquisitions by large technology and financial incumbents to internalize critical workflow, routing, and monetization capabilities.
FinTech Capital Markets Activity
Overview of Recent Activity
From mid-2025 through year-end, the FinTech sector attracted capital across buyouts, venture rounds, accelerators, and strategic acquisitions. Private equity sponsors remained active in acquiring mature platforms with recurring revenue and regulatory defensibility, while venture capital investors demonstrated selectivity, favoring clear commercialization paths and enterprise adoption over speculative consumer models.
M&A activity increasingly reflected platform consolidation, with buyers acquiring adjacent capabilities in payments, compliance, data, and workflow automation to deepen ecosystem control and reduce dependency on third-party providers.
Selected FinTech Transactions: November 16 to December 31, 2025
Table 1: Selected FinTech Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Column Tax | Buyout / LBO | Tax & Banking APIs | Acquired by Aiwyn (Hillandale Advisors) |
| Concert Group | Buyout / LBO | Captive Insurance Services | Acquired by Freedom Reinsurance |
| United Flow Technologies | Buyout / LBO | Platform Investments | Acquired by Berkshire Partners |
| Cara | Early-Stage VC | InsurTech Automation | Venture Funding |
| Cicada | Early-Stage VC | Institutional Bond Trading | USD 7.95m |
| Paperstack | Early-Stage VC | Working Capital Platform | USD 3.84m |
| Fortuna | Accelerator | Investment Intelligence | Joined LvlUp Ventures |
| Onza Finance | Accelerator / Grant | Healthcare Finance | Grant Funding |
| Mary & Pip | Angel | Personal Finance Tools | USD 0.33m |
| Phygitals | Angel | Digital Collectibles | USD 0.50m |
Commentary
Late 2025 activity highlights continued sponsor appetite for FinTech infrastructure and services platforms with embedded enterprise relationships. Venture funding skewed toward automation, capital access, and institutional trading infrastructure, reinforcing the sector’s shift away from purely consumer-led growth narratives.
Selected FinTech Transactions: October 1 to November 15, 2025
Table 2: Selected FinTech Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Apiture | Buyout / LBO | Digital Banking Software | Acquired by Computer Services |
| Empaxis Data Management | Buyout / LBO | Investment Operations | Acquired by Communify Fincentric |
| MBS Source | Buyout / LBO | Structured Finance Data | Acquired by Solve Advisors |
| Clerq | Series A + Debt | Bank Payments | USD 21.0m |
| Brico | Series A | Financial Licensing | USD 13.5m |
| Piere | Early-Stage VC | Personal Finance Automation | USD 2.1m |
| Alisio | Accelerator | Supply Chain Finance | Joined LvlUp Ventures |
| Bump | Accelerator | Creator Finance | Joined 500 Global |
| Capnote | Accelerator | Financial Data Management | Joined LvlUp Ventures |
Commentary
This period was defined by strong buyout momentum and a continued shift toward regulated financial infrastructure. Series A capital concentrated on platforms simplifying payments, licensing, and operational complexity for financial institutions and enterprises.
Selected FinTech Transactions: September 2025
Table 3: Selected FinTech Capital Raises and Transactions
| Company | Transaction Type | Subsector | Capital Raised / Deal Outcome |
| Additive | M&A | Tax Workflow Automation | Acquired by Thomson Reuters |
| Covr Financial Technologies | M&A | Digital Insurance Brokerage | Acquired by Optifino |
| Aleph | Series B | FP&A Software | USD 29.24m |
| Daylit | Later Stage VC | AI Lending | USD 110.0m |
| Extend | Later Stage VC | Virtual Credit Cards | USD 20.0m |
| Tabs | Series B + Debt | Revenue Automation | USD 55.0m |
| Cloudburst Technologies | Series A | Crypto Fraud Intelligence | USD 7.0m |
| Aria Finance | Seed | AI Budgeting | Seed Funding |
| Vylit | Seed | Creator Monetization | USD 2.7m |
Commentary
September activity reflected increasing consolidation of workflow and compliance tooling, alongside meaningful late-stage capital into lending, payments, and revenue automation platforms. Strategic buyers prioritized mission-critical software embedded in financial operations.
Implications for 2026 Capital Raising Strategies
FinTech companies preparing for a 2026 capital raise should consider the following strategic implications:
- Operational Relevance Over Growth Narratives: Investors are prioritizing platforms embedded in financial workflows with measurable cost reduction or revenue enablement.
- Regulatory and Licensing Advantage: Solutions addressing compliance, payments, and financial licensing complexity remain highly attractive.
- Exit-Oriented Positioning: With sustained M&A activity, early-stage companies should position as modular, acquisition-ready platforms.
- Vertical Specialization: Industry-specific FinTech solutions continue to outperform horizontal consumer propositions.
Concluding Observations
The FinTech capital markets from mid to late 2025 demonstrate a mature, disciplined investment environment. While speculative consumer models have moderated, capital remains readily available for platforms delivering infrastructure, compliance, and monetization value across financial ecosystems. The sector enters 2026 positioned for continued consolidation, selective venture growth, and sustained private equity interest.
For further discussion on active FinTech investors, comparable transactions, or tailored capital raising strategies, please contact me directly via the website contact form.
Andrew Thomas – The Investors Link – January 2026
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