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

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
FinanceTerm Sheet

Term Sheet — Monday, June 27

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
June 27, 2016, 9:47 AM ET
Add Fortune on Google for similar content.

Monday Mouth-Off

The sun is shining, the markets are still tanking and we're just one day away from a group of Term Sheet readers taking the field at Fenway Park for a good cause (you're all invited to cheer us on, bring your kids to see Wally, etc. ― the game begins at 2:10pm). In other words, it's time for some Monday Mouth-Off.

Today, it's all about Brexit:

Connal from Dublin: “Already plenty of people live in Ireland and take the red eye to London on Monday morning returning Thursday. Reversing that for those who wish to continue living in the U.K. and work in Dublin is easy... Our International Financial Services Centre, based in the Dublin Docklands, has about 30,000 people working in it. There are hundreds of thousands of square feet of new office accommodation currently being built there and I think there's still a further 60 acres of derelict space adjacent. From the IFSC to Dublin Airport is a 20-minute drive. With direct flights from, in the West, San Fran, LAX, LDN and, in the East, soon to be announced flights to China, world connectivity is not an issue. Plus, Ireland has pre-clearance of U.S. customs at Irish airports - once through Dublin or Shannon you are effectively on US soil. To summarise, every Irish business person and business commentator was urging everyone in Britain to vote 'Stay.' Now we are planning on how to minimise the undoubted damage and maximise any opportunity. Morgan Stanley has already said today they're looking at possibly moving 2,000 from London to Dublin. Many, many more could follow.”

UK entrepreneur Alain: “For internationally expanding companies, the referendum decision of course changes the dynamics. On the one hand, we need to ensure it does not threaten our ability to attract global talent to the U.K. that is essential in growing our business. If it does, we will have to adapt, and fast, which is something tech companies do well. On the flip side, the weakening pound will make an investment in UK’s leading start-ups even more attractive to U.S., Asian and European investors, and will help elevate U.K. start-ups on the global map. "

Vito: "Since private equity firms are leading experts in cross border finance, I see no hit to fund operations. Some criticism aimed at PE does relate to playing different tax jurisdictions off each other in getting the most tax efficient corporate structures. This makes the expertise found at PE firms all the more valuable."

Justin: "I am hoping the Brexit will spur interest in assets abroad by British middle-market private equity groups, in the States and elsewhere, as they search for ways to diversify their new regulatory risk stemming from current portfolio companies."

Gerry: “While foreign currency traders and market makers who thrive on volatility are cheering Brexit, the private equity managers are taking a more sober outlook… Brexit may not have an immediate impact on the free movement of capital and goods as the U.K. and the EU must negotiate a withdrawal agreement pursuant to the 2009 Lisbon Treaty. In the meantime uncertainty will loom as to what the negotiations will produce. Will the U.K. continue to have access to the EU market without change? Will the EU countries have access to the U.K. markets? Will egos of politicians prevent cross border trade or enact tariffs on cross border trade? These uncertainties will more likely than not have an impact on valuation. The PE manager trying to exit an investment may have a harder time. On the flip side. PE managers looking to make investments might actually enjoy the instability. It may make their negotiating position much stronger and they can factor in the potential instability to their ROI. After all, one man’s trash is another man’s treasure.”

THE BIG DEAL

• Intel Corp. (Nasdaq: INTC) is exploring a possible sale of its security business, formerly known as McAfee when purchased in 2010 for $7.7 billion, according to the FT. Private equity firms are expected to be among the suitors, if the business formally hits the block. Read more.

VENTURE CAPITAL DEALS

• Thrive Market, an online discount marketplace for healthy foods, has raised $111 million in new VC funding. Invus Group led the round, and was joined by return backers like Greycroft Partners, Cavu Venture Partners, Cross Culture Ventures and e-Ventures. Read more.

• Orbital Insight, a Palo Alto, Calif.-based geospatial big data company, has raised $15 million in Series B funding. Google Ventures led the round, and was joined by CME Ventures and return backers Sequoia Capital, Lux Capital and Bloomberg Beta. Orbital Insight also announced $5 million in additional equity funding, via an investment and development agreement with In-Q-Tel. www.orbitalinsight.com

• Quoine, a Singapore-based bitcoin trading platform, has raised $20 million in Series A funding led by JAFCO. www.quoine.com

• Affiris AG, an Austriian developer of therapeutic peptide vaccines, has raised EUR 10 million in new VC funding. FCPG Affi was joined by return backers MIG Funds and the Strüngmann family. www.affiris.com

PRIVATE EQUITY DEALS

• Astorg Partners has agreed to acquire Autoform, a Swiss industrial software company, for nearly CCHF 700 million (approximately $721m), according to Reuters. Read more.

• J.S. Held LLC, a Roslyn Heights, N.Y.-based construction consulting firm owned by Lovell Minnick Partners, has acquired the New York and Florida offices of Lovett Silverman Construction Consultants for an undisclosed amount. www.lovett-silverman.com

• NEP Group Inc., a Pittsburgh-based provider of television and live-event production services, has received a minority equity investment from The Carlyle Group’s long-duration private equity fund. The deal was done alongside existing NEP owner Crestview Partners and company management. www.nepinc.com

• Pacific Equity Partners is in talks with Genesee & Wyoming Australia (ASX: GWR) about a possible joint bid for Glencore PLC’s (LSE: GLEN) NSW caul haulage business, which is worth more than A$1 billion, according to The Australian. Read more.

• Resource Environmental Solutions LLC, a Houston, Texas-based provider of environmental conservation and restoration services, has secured a “significant investment” from KKR. No financial terms were disclosed. www.res.us

IPOs

• Medpace Holdings Inc., a Cincinnati-based clinical contract research organization owned by Cinven, has filed for a $150 million IPO. It plans to trade on the Nasdaq under ticker symbol MEDP, with Jefferies and Credit Suisse serving as co-lead underwriters. The company reports $3.45 million in net income on $99.6 million in revenue for Q1 2016, compared to a small net loss on $83 million in revenue for the year-earlier period. www.medpace.com

EXITS

• Apax Partners is seeking a buyer for Epicor Software Corp., an Austin, Texas-based provider of sales and supply chain management software. Apax had previously put Epicor on the block in 2014, but pulled it after receiving underwhelming offers from bidders like CVC Capital Partners. Read more.

• E2open, as supply chain operating network backed by Insight Venture Partners, has acquired Orchestro, a Bethesda, Md.-based provider of demand signal repositories and preemptive analytics for retail and omni-channel fulfillment. No financial terms were disclosed. Orchestro had raised over $21 million in VC funding from firms like Novak Biddle Venture Partners,, CNF Investments and New Markets Venture Partners. www.e2open.com

FIRMS & FUNDS

• Bee Partners, a San Francisco-based early-stage VC firm, has closed its second fund with $30 million in capital commitments. www.beepartners.vc

• MedMen, a Los Angeles-based management company for the legal cannabis industry, has launched a $100 million private equity fund, in partnership with Wicklow Capital. www.medmen.com

• Monomoy Capital Partners, a New York-based turnaround firm focused on the middle markets, has closed its third fund with $767 million in capital commitments. www.mcpfunds.com

• Summa Equity, a Nordic buyout firm founded by Altor and Nordic Equity vets, is targeting EUR 300 million for its debut fund, according to Dow Jones. Rede Partners is serving as placement agent. The firm also has hired Tommi Unkuri, formerly with Fidelio Capital, as a partner. Read more.

• Tsinghua Holdings, a state-owned tech conglomerate in China, said that it will launch an investment fund to help commercialize scientific discoveries – including those sparked by at least $7.6 billion in new R&D spending over the next five years. Read more.

MOVING IN, ON & UP

• Mark Begor has joined Warburg Pincus as a managing director in the firm’s industrial and business services group. He previously spent 35 years with General Electric, including as president and CEO of the company’s energy management business. www.warburgpincus.com

• Briggs Donaldson has founded Sight Point LLC, a Bay Area-based executive recruiting firm focused exclusively on the asset management sector. He previously was a vice president with Capital Dynamics.

• Geoffrey Yang, a co-founder and managing director with Redpoint Ventures, has been named to the board of directors of AT&T Inc. (NYSE: T). He also will serve on the company’s corporate development and finance committee. www.att.com

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

Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
InvestingDonald Trump
Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
By Catherina GioinoJuly 1, 2026
4 hours ago
US President Donald Trump sits in silence with his hands folded on top of each other.
CryptoDonald Trump
Inside Trump’s $1.4 billion crypto empire: Altcoins, Bitcoin—and a stake in Michael Saylor’s Strategy
By Camila Grigera NaónJuly 1, 2026
5 hours ago
Mark Zandi, Moody's chief economist.
EconomyU.S. economy
‘It’s fair to ask whether it was worth it’: The Iran war has cost Americans $1,000 per household—and that’s a conservative estimate, Mark Zandi says
By Tristan BoveJuly 1, 2026
8 hours ago
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
PoliticsDonald Trump
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
By Mia OsmonbekovJuly 1, 2026
8 hours ago
Donald Trump sits at his desk in the Oval Office, smiling and with his hands folded in front of him.
PoliticsDonald Trump
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
10 hours ago
Current price of Bitcoin for July 1, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for July 1, 2026
By Joseph HostetlerJuly 1, 2026
13 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
19 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
17 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
14 hours 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.