Category Archives: News

KKR Completes Acquisition of OSTTRA From S&P Global and CME Group

KKR

October 10, 2025

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that investment funds managed by KKR have completed the acquisition of OSTTRA, a leading provider of post-trade solutions for the global OTC market, from S&P Global and CME Group. The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion.

Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.

Guy Rowcliffe and John Stewart will continue to lead the OSTTRA management team. Building on OSTTRA’s strong foundation as a trusted provider of critical market infrastructure, KKR will support the Company’s customer-centric growth by increasing OSTTRA’s investments in technology and innovation across its leading post-trade solutions platform.

KKR will also support OSTTRA in creating a broad-based equity ownership program to provide all of the company’s nearly 1,500 employees the opportunity to participate in the benefits of ownership.

Goldman Sachs & Co. LLC and BofA Securities, and Simpson Thacher & Bartlett served as financial and legal advisors, respectively, to KKR. Barclays served as financial advisor and Davis Polk served as legal advisor to S&P Global. Citi served as financial advisor and Skadden served as legal advisor to CME Group.

About OSTTRA

OSTTRA provides critical post trade infrastructure to global financial markets. Launched in 2021 through the combination of four businesses that have been at the heart of Post Trade innovation for more than 20 years (MarkitServ, Traiana, TriOptima and Reset), the OSTTRA network connects thousands of market participants to process millions of trades each day, streamlining end to end workflows – from trade capture and confirmation, through portfolio optimisation, to clearing and settlement. For additional information, please visit www.osttra.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media

OSTTRA:
Ted Harvey
+447515961906
osttra@aspectusgroup.com

KKR:
Lauren McCranie
212-750-8300
media@kkr.com

Source: KKR

 

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BASF and Carlyle reach binding transaction agreement on coatings business to create a leading standalone company

Carlyle

  • Enterprise value of €7.7 billion agreed for BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment businesses

  • Carlyle to leverage its global industrial and carve-out expertise to support BASF Coatings’ next phase of growth 

  • BASF to hold equity stake in coatings business to continue building on today’s success 

  • Subject to customary regulatory approvals, closing is expected in Q2 2026

Ludwigshafen, Germany, and Washington D.C. – October 10, 2025 – BASF and funds managed by global investment firm Carlyle (NASDAQ: CG), in partnership with Qatar Investment Authority (QIA), have entered into a binding agreement relating to BASF’s automotive OEM coatings, automotive refinish coatings, and surface treatment businesses (“BASF Coatings”). 

The enterprise value of the transaction amounts to €7.7 billion. Subject to customary regulatory approvals, the transaction is expected to close in Q2 2026. This transaction, together with the already closed divestiture of the decorative paints business, value BASF’s entire Coatings division at an enterprise value of €8.7 billion and an implied 2024 EV/EBITDA multiple before special items of approx. 13x. This represents a significant step in unlocking the value of BASF’s standalone businesses, as the company swiftly executes its Winning Ways strategy. BASF will also reinvest in the coatings business holding a 40% equity stake and will receive pre-tax cash proceeds of approx. €5.8 billion at closing of the transaction.

BASF Coatings is a global player in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The business operates in Europe, North America, South America and Asia Pacific, and generated sales of approx. €3.8 billion in 2024.

Working closely alongside management, Carlyle will support the future growth of the business through investing in its commercial capabilities, innovation pipeline, and organizational structure to enhance customer focus. Carlyle will leverage its strong track record and extensive experience in successful carve-outs of industrial and chemical assets, following previous investments in Axalta, Atotech, and Nouryon. 

“We are delighted to partner with Carlyle, whose sector expertise, carve-out capabilities and collaborative approach will help position BASF Coatings for long-term success,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE. “By retaining an equity stake, we are showing our belief in Coatings’ future value creation and upside potential. The passion, expertise, and customer focus of our Coatings team is what makes this business outstanding.”

“The transaction announced today opens a new chapter of opportunity for BASF Coatings, building on today’s success and shaping an even stronger future,” said Anup Kothari, member of the Board of Executive Directors of BASF SE and responsible for the Coatings division.

“BASF Coatings is an exceptional platform with leading technologies, a world-class management team, strong customer partnerships, and a truly global footprint,” said Martin Sumner, Global Head of Industrials, and Tanaka Maswoswe, Partner at Carlyle. “We see compelling opportunities to leverage our global platform to support the business becoming an established independent leader. This transaction exemplifies Carlyle’s ability to execute complex carve-outs in partnership with leading global corporates.”

“QIA is pleased to partner with Carlyle to support the next phase of BASF Coatings’ continued growth,” said Mohammed Al-Sowaidi, CEO of QIA. “This investment aligns with QIA’s approach of investing in industry leaders and is testament to our belief in the long-term resilience of German businesses.”

Business continuity for customers will be ensured throughout the transaction process. In accordance with legal requirements and local practice, employee representatives will be involved.

Further information

BASF will host a conference call on the transaction on Friday, October 10, 2025, from 14:00 to 14:30 CEST. The webcast will be available at: http://basf.com/conference-call-2025-10-10.

About BASF

At BASF, we create chemistry for a sustainable future. Our ambition: We want to be the preferred chemical company to enable our customers’ green transformation. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises, as core businesses, the segments Chemicals, Materials, Industrial Solutions, and Nutrition & Care; our standalone businesses are bundled in the segments Surface Technologies and Agricultural Solutions. BASF generated sales of €65.3 billion in 2024. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com.

Forward-looking statements and forecasts relating to BASF

This release contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this release above and beyond the legal requirements.

About Carlyle 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About QIA 

Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

BASF contacts:

Dr. Stefanie Wettberg

+49 621 60-48002

stefanie.wettberg@basf.com

Jens Fey

+49 621 60-99123

jens.fey@basf.com

Carlyle contacts: 

Brittany Bensaull

+1 (212) 813-4839

Brittany.Bensaull@carlyle.com

Andrew Kenny

+44 7385 662334

andrew.kenny@carlyle.com

Lonna Leong

+852 9023 1157

lonna.leong@carlyle.com

QIA contact:

media@qia.qa

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819 Capital Partners launches 819 Seed Fund!

819 Capital Partners

Deventer, 9 October 2025 – 819 Capital Partners announces the launch of 819 Seed Fund, a new €9 million fund established with support from the Netherlands Enterprise Agency (RVO).

819 Seed Fund is designed to address the growing demand for venture capital among early-stage deep tech and med tech companies, offering ticket sizes from €250k – €1.5M. Its mission is to help entrepreneurs develop, validate, and scale breakthrough technologies in the Netherlands.

By investing at this critical stage, we aim to strengthen the Dutch startup ecosystem and support entrepreneurs shaping the future of technology.

For more information: https://819-capital.com/819-seedfund/

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Our Investment in n8n: The AI platform for automation

Accel

written by

Ben Fletcher

Rich Wong

Jakob Buchmayer

Enterprises have reached a tipping point in their AI investments. Pilots are widespread, but most companies have yet to translate those experiments into full workflow transformations. Their ability to capture the value that AI promises depends on integrating an increasing number of task and function-specific AI agents and systems across their businesses.

n8n has built the missing piece that enterprises need in order to translate their AI investments into real, durable value for their organizations. Its central system of record enables companies to build, evaluate, observe, and orchestrate agentic automations across their global operations, all while integrating directly into their existing workflows through over 1,000 native integrations, APIs, ETL connectors, and MCPs.

Accel’s Ben Fletcher and n8n’s Jan Oberhauser together in Berlin.

Today, we’re pleased to announce that Accel has led the Series C in n8n’s AI-native workflow automation platform. This funding round follows explosive, capital-efficient growth over the past year that has seen n8n become the underlying infrastructure for orchestrating and integrating agents into leading enterprises. We’re grateful to be joined by a variety of angels and strategic partners, including CrowdStrike’s George Kurtz, NVIDIA’s NVentures, and Deutsche Telekom’s T.Capital.

Previous generations of automation software relied on “if this, then that” deterministic logic. It’s a fundamental mismatch for agentic AI workflows, and diminishes the potential value LLMs promise. n8n has built the automation and orchestration layer for the AI era: today, more than 80% of workflows built on n8n embed AI agents.

n8n has dramatically expanded the share of work that can be automated. Teams can fully customize workflows, mixing AI agents with deterministic steps and team inputs where required. The range of use cases on n8n is vast: AI builders define full backend logic. Fortune 500 companies standardize operations spanning IT, finance, marketing automation, and security orchestration. System integrators have transformed customer support, sales, and DevOps with easy AI automations. No matter where customers are on their AI journey, n8n makes it easy to unlock real value and efficiency gains.

What truly sets n8n apart is its radically open “Fair Code” model and the community it has inspired. n8n has become a Top 50 GitHub Project with over 145,000 stars, and is now supported by a vibrant community of more than 700,000 active developers. n8n users also tend to be n8n evangelists: extending it through workflow templates and integrations, and spreading the word across online forums. Community members now organize over 60 community events around the world each year.  In this, we’ve recognized a similarity with some of Accel’s most notable investments – Atlassian, Slack, Vercel, Webflow –  that built effusive, loyal communities centered around great products.

n8n events around the world focused on builders

At Accel, we’ve long believed in partnering with the builders creating the foundational tools powering software. Accel portfolio companies Cursor, Linear, Lovable, Supabase and Vercel are rapidly defining the next-gen AI stack. n8n is the next step of this thesis, providing the open, community-first operating system to embed AI into daily work. We’re grateful to Jan and his team for trusting Accel as a partner for their next phase of global growth and we look forward to the remarkable journey ahead.

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MOA and CareLineLive to Deepen Collaboration as Part of Accel-KKR Portfolio

AKKR Logo

London, UK – October 8, 2025 — MOA and CareLineLive, both now part of the Accel-KKR portfolio, are pleased to announce their intention to deepen collaboration in the UK care technology sector. This strategic alignment builds upon a longstanding partnership and is expected to deliver enhanced value to healthcare providers across the United Kingdom. Accel-KKR, a leading global software investor,  became a majority investor in CareLineLive in June 2025, and acquired MOA in September 2025.

MOA and CareLineLive have a proven history of working together to support care organisations with innovative technology solutions that advance quality, compliance, and operational efficiency. As members of the Accel-KKR family, the companies will pursue closer integration of their respective platforms, surface more powerful insights, and accelerate the development of new products and services.

The collaboration comes at an important time for the UK care sector. Regulators across the UK, including the Care Quality Commission in England, are placing greater emphasis on providers demonstrating clear evidence of safety, quality and continuous improvement. Providers face rising expectations for audit readiness, performance monitoring and the use of digital systems to support compliance.

MOA already supports services in England and Wales with benchmarking, risk management and compliance tools that provide immediate reporting against peers. These tools enable providers to evidence regulatory compliance, manage risk, and strengthen governance processes. CareLineLive’s care management platform is widely adopted across the UK and offers an integrated solution for scheduling, care delivery and digital record keeping. By working more closely together, the two organisations can help providers meet inspection requirements, streamline reporting and deliver improved outcomes for people receiving care.

Josh Hough, Founder & Managing Director of CareLineLive, commented: “Being part of the Accel-KKR portfolio provides a unique opportunity for CareLineLive and MOA to collaborate more directly. Our shared commitment to empowering care providers with advanced technology and actionable insights will help drive improved outcomes for those delivering care throughout the UK.”

Garry Neale, Chief Executive Officer of MOA, added: “MOA and CareLineLive have established a strong partnership within the UK care sector. As portfolio companies of Accel-KKR, we are well-positioned to further integrate our strengths and accelerate innovation. This collaboration will enable us to provide care providers with the tools and support necessary to deliver exceptional care and achieve operational excellence.”

The collaboration will focus on:

  • Enhanced platform integration to streamline workflows
  • Powerful insights to inform clinical and operational decision-making
  • Accelerated innovation to address the evolving needs of the care sector

Importantly, MOA will continue to work with all other clinical management solutions in the market, maintaining its open and collaborative approach to integration.

About CareLineLive
CareLineLive’s cloud-based all-in-one home care management software improves efficiency, capacity and compliance in home care agencies by digitising workflows and automating processes such as rostering and payroll. Home care agencies can save time and money, and carers spend less time on paperwork allowing them to spend more time delivering better care. CareLineLive is the highest rated home care software company in the UK with an Excellent rating on Trustpilot.

https://carelinelive.com/

About MOA
MOA Benchmarking provides a comprehensive schedule of audits and surveys for Adult Social Care providers to continuous self-assess against the CQC Single Assessment Framework and Fundamental Standards and Regulations. The tools allow for continuous and in-depth insight into providers’ performance against the requirements, supported by extensive benchmarked reporting at all levels of the organisation.

Fully integrated modules for Incident Management (IMS), Risk Management, Plan for Continuous Improvement (PCI), Feedback & Complaints, and Policies & Procedures provide an end-to-end Quality Management framework. This allows organisations to foster a culture of continuous quality improvement, strengthen governance, and ensure that every member of the organisation contributes to, and benefits from, a shared commitment to excellence.

http://www.moabenchmarking.co.uk/

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Flyntlok Secures $36 Million Growth Investment from Mainsail Partners to Bring AI & Innovation to Heavy Equipment Dealers

Mainsail partners

Anchorage, AK – October 8, 2025 – Flyntlok, provider of a modern, cloud-based heavy equipment dealer management system (DMS), today announced a $36 million growth investment from Mainsail Partners, a growth equity firm investing in bootstrapped vertical SaaS companies. With this investment and the support of Mainsail AI Labs, Flyntlok will introduce new products and features to help equipment dealers drive efficiencies and uncover new revenue opportunities through AI.

In addition, Flyntlok plans to invest further in its customer success program, ensuring dealers continue to receive the hands-on guidance and service that has distinguished the company.

“Whether they like it or not, equipment dealers are in the data management business—managing millions of part numbers, thousands of models, and constantly changing pricing structures and incentives,” said Sean McLaughlin, founder and CEO of Flyntlok. “When you add in today’s tariff pressures, dealers need every advantage to drive efficiency and protect growth. We’re excited to leverage Mainsail’s deep experience in scaling vertical SaaS businesses, as well as the strategic and technical resources of Mainsail AI Labs, to bring AI and innovation to the dealer market in ways that deliver transformative value for our customers.”

Flyntlok is a specialty, cloud-based DMS purpose-built for various dealer segments including heavy equipment, heavy and medium-duty trucks and outdoor power equipment. The platform was designed and incubated by McLaughlin inside his own dealership, Craig Taylor Equipment, where he leveraged the platform to help grow revenue from $20 million to more than $105 million in 11 years.

Flyntlok helps dealers across hundreds of locations streamline mission-critical workflows such as point-of-sale, purchase and work orders, rentals, transportation scheduling, fleet and inventory planning, while also integrating in real time with QuickBooks and Sage Intacct for general ledger, AP/AR and payroll. The system supports dealers managing equipment of all sizes, from blowers, mowers, and weed trimmers to loaders, graders, excavators, and mining trucks.

“Flyntlok’s dealer-first approach was locked in from inception, as Sean’s experience building and using the platform to grow his own dealership reinforced the power of modernizing business management with intuitive, cloud-based software. Being purpose-built within its vertical, combined with deep OEM integrations and a strong reputation for customer support, sets Flyntlok apart,” said Vinay Kashyap, Partner at Mainsail Partners.

“We see tremendous opportunity to help Flyntlok accelerate innovation—particularly in bringing AI to the industry to create lasting value for dealers—and we look forward to partnering with the Flyntlok team in their growth,” said Anthony Hayes, Principal at Mainsail Partners.

At the upcoming Equip Exposition, held October 21-24 in Louisville, KY, Flyntlok will showcase some of the ways that properly implementing AI within a DMS can help dealers unlock value hidden within their own data, such as surfacing sales opportunities through the Flyntlok CRM, and streamline repetitive processes to help them run leaner, more profitable businesses.

About Flyntlok

Flyntlok is a pioneering software company that specializes in delivering cutting-edge dealer/equipment management solutions. Flyntlok’s cloud-based dealer management platform offers a comprehensive suite of tools designed to help its dealer customers manage sales, service, rental and parts inventory.

About Mainsail Partners:

Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders. Our team is purpose-built to include experienced investors and software operators who help founders build great teams, develop industry-leading products, design data-driven and scalable infrastructure, harness the power of AI to drive productivity and innovation, and grow market share. Mainsail’s hands-on support and best practices are delivered through a collaborative approach that respects founder-led cultures and helps build on each company’s commitment to its people and customers. With offices in Austin and San Francisco, Mainsail Partners has raised nearly $4 billion in committed capital and partnered with 100+ companies over the last 22+ years. For more information, visit www.mainsailpartners.com.

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Wrike delivers the future of human-to-AI collaboration at Collaborate 2025

Stg Partners

Wrike, the intelligent work management platform, today announced a series of new AI-powered features and enterprise platform enhancements at its annual Collaborate 2025 user conference. Designed to help teams automate workflows, accelerate decision making, and connect ideation with execution, these innovations mark Wrike’s boldest step yet toward building the most intelligent and integrated system of record for work.

“Success doesn’t come from adding tools; it comes from unifying work on an intelligent platform that adapts, learns, and scales with your business,” said Thomas Scott, CEO of Wrike. “Wrike isn’t just about managing tasks; it’s about rewiring how work gets done. With AI Agents, Wrike Whiteboard powered by Klaxoon, and our new enterprise workflow solution suites, we’re helping every team move from idea to execution faster, with clarity and confidence.”

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CAI Software and Print ePS, a division of eProductivity Software (ePS), Announce Strategic Merger to Drive Innovation in Manufacturing Software Solutions

CAI Software, a leading provider of manufacturing ERP and production software solutions for more than fifteen vertical markets, and Print ePS, a leading provider of manufacturing ERP and production software for the graphic communications industry, today announced that they have combined in a merger of equals.

The merger brings together two trusted leaders with a shared vision: delivering best-in-class software solutions to address complex challenges across specialized manufacturing markets.

The newly combined organization will operate as CAI Software (CAI). Print ePS will become the Graphic Communications business unit of CAI. Moving forward there will be three operating divisions of CAI: Process Manufacturing, Discrete Manufacturing and Graphic Communications.

As part of this transaction, the ePS Packaging division of eProductivity Software (ePS) will now operate as an independent software company dedicated to empowering packaging businesses worldwide.

Leadership and Vision

As part of the transaction, CAI Software has named Brent Pietrzak as CEO and Cort Townsend as CFO. Brent shared his enthusiasm for the road ahead: “This merger creates tremendous opportunities for our clients, employees and partners. By aligning our customer-centric strategies, we are building a more dynamic, diversified software leader. The management team at CAI is excited to move forward with a shared commitment to innovation, performance and growth.”

STG, the lead investor in CAI and ePS, will continue their investment in the newly combined business. William Chisholm, Managing Partner, and Patrick Fouhy, Managing Director, at STG, shared: “The combination of CAI Software and Print ePS brings together the strength of two industry leaders while opening an exciting new chapter. By honoring the heritage of both businesses and investing in future-focused innovation, we are building a powerful software organization ready to drive transformation across the manufacturing landscape. We are proud to support CAI on the next leg of its strategic evolution and are excited to partner with Brent, Cort and the broader management team. We’d also like to thank Brian Rigney and Dan Vertachnik for their impactful leadership at CAI and Print ePS, respectively, over the past three and a half years.”

A Compelling Path Forward

The merger is a strategic step forward, designed to strengthen the business. Clients, employees, and partners can expect a seamless transition as well as increased investment across the combined product portfolio. The new company will continue to build on its:

  • Global Presence: With a combined workforce of over 800 employees and offices across North America, Europe, and Asia, we are well-positioned to support customers around the world.
  • Deep Experience: The team brings together industry leaders and experienced technologists who will continue to collaborate with clients and partners to address industry trends and client specific needs.
  • Exceptional Client Support: Continuing to deliver high quality service to our clients remains a top priority. Our account management and support teams remain focused on delivering exceptional outcomes for our clients.
  • Continued Innovation: By leveraging our specialized domain expertise, the company is focused on utilizing cutting-edge technology that enables practical and impactful solutions for specialized manufacturers.

About CAI Software LLC

CAI Software is a leading provider of manufacturing ERP and production software solutions to more than fifteen vertical end markets in the process (e.g., food & beverage and chemicals), discrete (e.g., A&D, automotive parts) and distribution (e.g., food) sectors.

About Print ePS (now CAI Graphic Communications)

Print ePS is a leading provider of manufacturing ERP and production software for the graphic communications market serving commercial and publication printers, promotional and transactional mail producers, sign & screen display manufacturers, in-house print centers and print-for-pay providers.

About STG

STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio consists of more than 50 global companies.

Advisors

Evercore served as financial advisor to STG on the combination of CAI Software and Print ePS. Lincoln International served as financial advisor to CAI Software on the transaction. Moelis & Company LLC served as financial advisor to Print ePS on the transaction. Paul Hastings served as legal advisor to STG.

For more information please contact:

Drea Toretti
CMO
CAI Software, LLC
800.422.4782
info@caisoft.com

Karis Copp
Karis Copp Media
Graphic Communications
+447581175238
karis@kariscoppmedia.com

MORE AT CAISOFT.COM

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France-based Phagos lands $29m to further develop its antibiotic alternative for livestock

Agfund

[Disclosure: AgFunderNews’ parent company AgFunder is an investor in Phagos.]

Paris, France-based biotech company Phagos has raised a €25 million ($29 million) Series A round to further develop its bacteriophage drugs used to treat bacterial disease in animals and, eventually, humans.

The company calls these drugs “a sustainable answer to the global challenge of bacterial resistance.” It will use the funding to deploy treatments, starting with animal health, as well as further develop its technology that simplifies the discovery process.

CapAgro, Hoxton Ventures, CapHorn, and Demeter co-led the round, which also saw participation from Acurio Ventures, Citizen Capital, Entrepreneur First, Founders Capital, and Station F.

Drug pipeline to fight AMR ‘insufficient’ 

Phagos’ fundraise news comes just days after the World Health Organization released new reports that detail the escalating problem of antimicrobial resistance (AMR) and the “insufficient” pipeline of drugs and innovations needed to tackle drug-resistant bacterial infections.

AMR is expected to cause some 39 million deaths globally over the next 25 years. It is also a leading cause of death among animals, which raises food security and livelihood concerns in addition to those around animal welfare.

In its new reports, the WHO calls for “greater investment in tools designed for resource-limited settings, including those that eliminate the need for culture and simplifying diagnostic platforms for primary and secondary care use.”

The promise of phage therapy 

Bacteriophage—or simply “phages”—are present in everything from soil to the human gut, and regulate the number of bacteria in humans, plants, and animals.

Phagos says that thanks to millions of years of co-evolution with bacteria, phages are specialized to detect specific bacterial targets without harming other cells. This makes them an attractive potential alternative to antibiotics. In animal health, for example, they could be used to treat salmonella or E. coli.

The Phagos platform, dubbed “Alphagos,” combines microbiology with artificial intelligence to diagnose bacterial strains, identify phages that can fight those strains, and develop “ultra-targeted bacterial treatments” that leverage phages, says the company.

These treatments are continuously updated to ensure subjects stay healthy without contributing to AMR.

The company, founded in 2021, has started with solutions for animal health, which it says can be tailored to the needs of a specific livestock operation or environment. Currently, the Phagos phage therapy is deployed across the chicken, cattle, swine, and shrimp sectors. Phagos also recently filed a patent for its AI platform.

“We are convinced that phage therapy can transform the history of medicine just as antibiotics did in the last century,” noted Phagos’ founders Alexandros Pantalis and Adèle James.

“Thanks to our regulatory breakthroughs and our patented platform combining microbiology and artificial intelligence, we now have the opportunity to establish phage therapy as a global reference solution: for animal health today, and for human health tomorrow.”

The Series A financing will go towards further deployment of veterinary phage therapy in the field. Funds will also enable further development of the Alphagos platform as well as international expansion across Europe, Asia, and the Americas.

Paris, France-based biotech company Phagos has raised a €25 million ($29 million) Series A round to further develop its bacteriophage drugs used to treat bacterial disease in animals and, eventually, humans.

The company calls these drugs “a sustainable answer to the global challenge of bacterial resistance.” It will use the funding to deploy treatments, starting with animal health, as well as further develop its technology that simplifies the discovery process.

CapAgro, Hoxton Ventures, CapHorn, and Demeter co-led the round, which also saw participation from Acurio Ventures, Citizen Capital, Entrepreneur First, Founders Capital, and Station F.

Drug pipeline to fight AMR ‘insufficient’ 

Phagos’ fundraise news comes just days after the World Health Organization released new reports that detail the escalating problem of antimicrobial resistance (AMR) and the “insufficient” pipeline of drugs and innovations needed to tackle drug-resistant bacterial infections.

AMR is expected to cause some 39 million deaths globally over the next 25 years. It is also a leading cause of death among animals, which raises food security and livelihood concerns in addition to those around animal welfare.

In its new reports, the WHO calls for “greater investment in tools designed for resource-limited settings, including those that eliminate the need for culture and simplifying diagnostic platforms for primary and secondary care use.”

The promise of phage therapy 

Bacteriophage—or simply “phages”—are present in everything from soil to the human gut, and regulate the number of bacteria in humans, plants, and animals.

Phagos says that thanks to millions of years of co-evolution with bacteria, phages are specialized to detect specific bacterial targets without harming other cells. This makes them an attractive potential alternative to antibiotics. In animal health, for example, they could be used to treat salmonella or E. coli.

The Phagos platform, dubbed “Alphagos,” combines microbiology with artificial intelligence to diagnose bacterial strains, identify phages that can fight those strains, and develop “ultra-targeted bacterial treatments” that leverage phages, says the company.

These treatments are continuously updated to ensure subjects stay healthy without contributing to AMR.

The company, founded in 2021, has started with solutions for animal health, which it says can be tailored to the needs of a specific livestock operation or environment. Currently, the Phagos phage therapy is deployed across the chicken, cattle, swine, and shrimp sectors. Phagos also recently filed a patent for its AI platform.

“We are convinced that phage therapy can transform the history of medicine just as antibiotics did in the last century,” noted Phagos’ founders Alexandros Pantalis and Adèle James.

“Thanks to our regulatory breakthroughs and our patented platform combining microbiology and artificial intelligence, we now have the opportunity to establish phage therapy as a global reference solution: for animal health today, and for human health tomorrow.”

The Series A financing will go towards further deployment of veterinary phage therapy in the field. Funds will also enable further development of the Alphagos platform as well as international expansion across Europe, Asia, and the Americas.

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EQT Real Estate completes sale of national truck terminal portfolio

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Truck Terminal Image

  • Portfolio includes seven logistics assets totaling 475 dock-high and drive-in doors, 89 usable acres and more than 312,000 square feet 
  • Properties span six U.S. states, concentrated in Phoenix, Atlanta, Southern California and Texas
  • Sale reflects growing institutional demand for mission-critical freight infrastructure 

EQT is pleased to announce that the EQT Real Estate Industrial Value Fund V (“EQT Real Estate”) has completed the sale of a seven-asset truck terminal portfolio across the U.S. The portfolio includes high-flow-through industrial facilities located across major freight corridors, supporting the growing need for efficient goods movement and regional distribution. 

Assembled through a series of strategic acquisitions between 2021 and 2022, the portfolio comprises more than 312,000 square feet, 475 dock-high and drive-in doors, and spans 89 acres across Phoenix, Atlanta, Southern California’s Inland Empire, Texas and Wichita. The sites are fully paved, fenced, and located within three miles of major interstates, offering last-mile access to densely populated markets. 

EQT implemented robust targeted leasing and site improvements to institutionalize the portfolio and bring it to stabilization. The properties are now leased to a diversified mix of national and regional logistics users. 

The transaction is part of EQT Real Estate’s broader disposition strategy as it selectively crystallizes marquee investments across its industrial platform. Backed by a strong, world-class management team and deep local operating partners, EQT remains well-positioned to execute efficiently in today’s market environment. 

Matthew Brodnik, Chief Investment Officer at EQT Real Estate, said: “This sale reflects the depth of buyer interest for functional, well-located logistics assets. Our team did a tremendous job executing on the value creation plan for these assets, upgrading each property, enhancing site functionality, and securing significant moderate-to-long-term leasing commitments from blue-chip tenants. Demand for freight and logistics infrastructure remains strong, and we look forward to continuing to unlock value across our portfolio as market opportunities evolve.”

EQT Real Estate was advised by Brian Fiumara and Zach Graham of CBRE National Partners. 

Contact

EQT Press Office, press@eqtpartners.com

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About EQT Real Estate

EQT is a purpose-driven global investment organization with EUR 266 billion in total assets under management (EUR 141 billion in fee-generating assets under management) as of 30 June 2025, divided into two business segments: Private Capital and Real Assets. EQT supports its global portfolio companies and assets in achieving sustainable growth, operational excellence, and market leadership. Within EQT’s Real Assets segment, EQT Real Estate acquires, develops, leases, and manages logistics and residential properties in the Americas, Europe, and Asia. EQT Real Estate owns and operates over 2,000 properties and 400 million square feet, with over 440 experienced professionals across 50 locations globally. 

More info: www.eqtgroup.com
Follow EQT Real Estate on LinkedIn 

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