Balyasny targets $350M for first VC fund

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February 26, 2025

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Balyasny Asset Management raising $350M for debut VC fund

(Spencer Platt/Getty Images)

Balyasny Asset Management, which has $22 billion in AUM, is setting its sights on $350 million for its first dedicated VC fund.

The move from the multi-strategy firm follows that of other hedge funds—such as Point72 Asset Management and D1 Capital—that have significantly expanded into the private markets over the past decade.

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VC Deals

Anthropic is raising a $3.5 billion round at a $61.5 billion valuation led by Lightspeed, according to reports.

Israeli quantum computing startup Quantum Machines raised a $170 million Series C led by PSG.

Metronome, a San Francisco-based company developing a usage-based billing platform, raised a $50 million Series C led by NEA.

India's Geniemode raised over $50 million in a Series C led by Multiples Alternate Asset Management for its B2B platform that helps source products from South Asian markets.

Sparta, a Swiss provider of real-time intelligence for commodity traders, received a $42 million Series B led by One Peak.

Vivici, based in the Netherlands, secured a €32.5 million Series A for its animal-free dairy proteins. The round was led by APG and Invest-NL.

Sweden-based Lovable, the developer of an AI platform for building apps, raised a $15 million pre-Series A led by Creandum.

Edera raised a $15 million Series A led by M12. The Seattle-based company provides cybersecurity and network management software.

PE Deals

Investment management firm First Eagle is in talks to be acquired by Genstar Capital in a deal that could value the company at over $4 billion, Bloomberg reported.

PE firms including Lone Star Funds, Advent International and Apollo Global Management have been invited to bid on a package of homecare assets owned by Reckitt Benckiser Group that could be valued at around £4 billion to £5 billion, Bloomberg reported.

KKR, Fountainvest Partners and PAG are among potential bidders for a stake in Starbucks' China business, Reuters reported.

Amsterdam-based IT platform Your.World secured €800 million in long-term capital from Ares Management and The Carlyle Group.

Alterra Capital Partners acquired a majority stake in ARP Africa Travel for $400 million.

Exits

BP is considering a sale of its lubricants unit, which could be valued around $10 billion in a deal, after Elliot Investment Management built up a stake in the company, Bloomberg reported.

Advent International is considering an IPO for Argentina-based payments processing company Prisma Medios de Pago, which could have a valuation around $5 billion, Bloomberg reported.

Etihad Airways, which is owned by Abu Dhabi sovereign wealth fund ADQ, is planning to announce a $1 billion IPO this week, Reuters reported.

Geneva-based ID Quantique is in talks to be acquired by NYSE-listed IonQ in a deal worth about $250 million, Bloomberg reported.

India-based Tata Group is planning an IPO of Tata Capital, its financial unit, and plans to sell 230 million new shares.

Fundraising

Pictet Alternative Advisors aims to raise $1.25 billion for Monte Rosa Co-Investments VI, Private Equity International reported.

GCM Grosvenor closed its third co-investment opportunities fund on $615 million.

Chart of the Day

Source: 2024 Annual European VC Valuations Report

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Balyasny targets $350M for first VC fund

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