• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026
FinanceTerm Sheet

Term Sheet — Tuesday, October 25

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
October 25, 2016, 9:33 AM ET
Add Fortune on Google for similar content.

Thank You

The sun is shining, the beloved Pats are rolling and this is my final issue of Term Sheet.

As I mentioned earlier, deciding to leave Fortune was not easy. This has been a dream job, and I'm indebted to the people who have worked with, nurtured and put up with me over the past six years. There are too many treasured colleagues (past and present) to mention in this space, but a particular thank you to Dan Roth and Andy Serwer ― the two people most responsible for bringing me into the fold ― and to Adam Lashinsky, who invited me to moderate at Fortune Brainstorm Tech long before I was on staff (let alone as co-chair of that very event).

But I save my deepest gratitude for you, dear readers. Thank you for opening these morning missives. And for sharing them. And for sending scoop and incisive feedback. And for agreeing to disagree. And for overlooking my many digressions. It has been my privilege to write for you each morning.

So two final pieces of business: What comes next for me, and what comes next for Term Sheet?

Next for me: While I am leaving Fortune to help launch a new media company, I'm not leaving journalism or this beat behind (I know there has been some confusion on that point). It would be inappropriate to dive too deeply into specifics but, suffice to say, I see no need to choose between chasing new horizons and maintaining longstanding loves. Again, this is an evolution, not an exit. If you'd like to keep in touch and be kept abreast of my future plans, please email DanielPrimack@gmail.com. Or keep an eye on @danprimack.

Next for Term Sheet: Beginning tomorrow, this publication will be led by Erin Griffith ― someone already familiar to many of you. She is smart, funny, tireless and (most importantly) knows her stuff inside and out. Some things will stay the same, while others are likely to change. Erin will explain more in the next issue. I would wish her the best of luck, except that she won't need it.

So that's it. Thanks again, and get back to work. Those term sheets aren't going to sign themselves...

-dan

THE BIG DEAL

• Google (Nasdaq: GOOG) has acquired Eyefluence, a Milpitas, Calif.-based eye-tracking technology company that had raised nearly $22 million in VC funding from firms like Motorola Solutions Venture Capital, Jazz Venture Partners, Intel Capital, NHN Investment and Dolby Family Ventures. No financial terms were disclosed. Read more.

VENTURE CAPITAL DEALS

• Paxata, a Redwood City, Calif.-based adaptive data preparation platform, has raised $33.5 million in fourth-round funding. Intel Capital led the round, and was joined by Microsoft Ventures, Cisco Systems, Deutsche Telekom Capital Partners, AirTree Partners and return backers Accel, In-Q-Tel and Singapore’s EDBI. www.paxata.com

• Clarifai, a New York-based visual recognition AI company, has raised $30 million in Series B funding. Menlo Ventures led the round, and was joined by return backers Union Square Ventures, Lux Capital, Qualcomm Ventures and Osage University Partners. www.clarifai.com

• InContext Solutions, a Chicago-based developer of 3D virtual simulation technology, has raised $15.2 million in fifth-round funding co-led by Intel Capital and return backer Beringea. www.incontextsolutions.com

• Hixme, an Agoura Hills, Calif.-based developer of worker benefits programs, has raised $14.1 million in Series B funding. Propel Venture Partners led the round, and was joined by Kleiner Perkins Caufield & Byers, Transamerica Ventures and Rosemark Capital. www.hixme.com

• AEVI, a German payment transactions provider and marketplace for B2B apps and services, has raised €10 million in new equity funding from Adveq. This brings its latest round total to €30 million, including a first close back in May from HPE Growth Capital. www.aevi.com

• K4Connect, a Raleigh, N.C.-based developer of tech solutions that “empower older adults and individuals living with disabilities,” has raised $8 million in Series A funding. Intel Capital led the round, and was joined by Traverse Venture Partners and a unit of Reinsurance Group of America (NYSE: RGA). www.k4connect.com

• OpenDataSoft, a French SaaS platform for transformation of data, has raised $5.4 million in Series A funding. Aster Capital and Salesforce Ventures were joined by Ader Finance and return backer Aurinvest. Read more.

• Coins, a Philippines-based digital payments and blockchain startup focused on unbanked individuals in Southeast Asia, has raised US$5 million in Series A funding. Accion Frontier Inclusion Fund (managed by Quona Capital) led the round, and was joined by Innovation Endeavors, Pantera Capital, Digital Currency Group, Wavemaker Labs, Global Brain, BeeNext and Rebright Partners. Existing shareholders include Kickstart Ventures and Ideaspace Foundation. www.coins.ph

• HYPR, a New York-based developer of cybersecurity solutions to protect biometric data, has raised $3 million in seed funding from RTP Ventures, Boldstart Ventures and Mesh Ventures. Read more.

• RackN, an Austin, Texas-based software platform for automating multi-cloud and hybrid infrastructure lifecycle management, has raised an undisclosed amount of new VC funding from SK Ventures. Existing shareholders include EVO Venture Partners and Juniper Networks. www.rackn.com

PRIVATE EQUITY DEALS

• Antin Anfrastructure Partners has hired J.P. Morgan to find a buyer for FPS Towers, a French telecom towers company that could be valued at upwards of 1 billion, according to Reuters. Preliminary bidders reportedly include 3i Infrastructure, American Tower Corp. (NYSE: AMT) and Spain’s Cellnex. Read more.

• Citic Private Equity has held preliminary talks to acquire a control stake in Spanish media company Imagina Group for around €2 billion, according to the FT. Read more.

• Detechtion, a Calgary-based provider of compression optimization technologies and fleet management services, has acquired Enbase, a Houston-based provider of  field automation, mobile applications and predictive analytics for the oil and gas industry. No financial terms were disclosed. Detechtion is a portfolio company of Element Partners.  www.detechtion.com

• Ohman and Nordic Capital have offered to buy the minority stake they do not already own in Sweden-based online bank Nordnet (Olso: NN B) for 37 crown-per-share, or an overall enterprise value of around $729 million.

• Pharos Capital Group has acquired Logan River Academy, a Logan, Utah-based adolescent residential treatment center, for an undisclosed amount. www.loganriveracademy.com

IPOs

• REV Group Inc., a Milwaukee-based maker of ambulances and other specialty vehicles, has filed for a $100 million IPO. It plans to trade under ticker symbol REVG, with Goldman Sachs, Morgan Stanley and Baird serving as lead underwriters. The company reports around $23 million of net income on $1.7 billion in revenue for its most recent fiscal year. REV is owned by American Industrial Partners. www.revgroup.com

EXITS

• Quikrete Holdings Inc., an Atlanta-based maker of packaged cement and concrete mixes, has agreed to acquire Contech Holdings Inc., a West Chester, Ohio-based site infrastructure company, for around $950 million. Sellers include Anchorage Capital Group, Littlejohn & Co., Tennenbaum Capital Partners and Fallaron Capital Management. www.conteches.com

OTHER DEALS

• The New York Times Co. (NYSE: NYT) has agreed to pay around $30 million to acquire tech gadget review site Wirecutter. Read more.

FIRMS & FUNDS

• 3i Group has agreed to sell its debt management business to Investcorp for £222 million. Read more.

• CapitaLand, a Singapore-based real estate developer, has raised $1.5 billion for a real estate private equity fund focused on mixed-use developments in China. Read more.

• IMM Private Equity, a South Korean private equity firm, has closed its third fund with approximately $1.15 billion in capital commitments. Read more.

• Monroe Capital has closed its second private credit fund with $800 million in capital commitments. www.monroecap.com

• Oak Hill Advisors has closed its second distressed debt fund with $2.7 billion in capital commitments. Read more.

MOVING IN, UP AND ON

• Ardian has named Mark Brenke as co-head of the firm’s private debt business, alongside Olivier Berment. Brenke has been with Ardian for two years, before which he was with Intermediate Capital Group. www.ardian.com

• Derek Connor has joined the South Carolina Retirement System Investment Commission as an investment officer focused on venture capital and private equity. He previously spent more than six years with CalPERS.

• Ash Rust has joined Trinity Ventures as an entrepreneur-in-residence. He previously was CEO of SendHub. www.trinityventures.com

• Anna Thomsen has joined London-based VC firm Balderton Capital as head of investor relations. She previously was a director of investor relations with Paulson & Co.

Share today's Term Sheet:
http://fortune.com/newsletter/termsheet

About the Author
By Dan Primack
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current refi mortgage rates report for June 24, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Current ARM mortgage rates report for June 24, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Now she’s worth $200 million. But Sarah Jessica Parker says being ‘one of eight kids that struggled financially’ growing up created her work ethic
SuccessCareer Advice
Now she’s worth $200 million. But Sarah Jessica Parker says being ‘one of eight kids that struggled financially’ growing up created her work ethic
By Orianna Rosa RoyleJune 24, 2026
3 hours ago
Mortgage rates today, June 24, 2026
Personal Financemortgages
Mortgage rates today, June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Trump, Rubio, and Hegseth sit next to each other at a dark wooden table.
EconomyIran
The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
3 hours ago
MSCI delays Indonesia’s market status review until November
AsiaIndonesia
MSCI delays Indonesia’s market status review until November
By Prima Wirayani, Bernadette Toh and BloombergJune 23, 2026
7 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
21 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
24 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
21 hours ago
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
Investing
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
By Nick LichtenbergJune 22, 2026
2 days ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.