Last Week's Top Funding Rounds

Funding Secured 101: Our weekly newsletter keeps investors informed about where capital is flowing across industries, while founders and businesses gain valuable intelligence on competitor funding and strategic investors.

WeWork is re-working…

Weekly Money Moves: Last week's market activity in North America saw a significant decline of 45% in funds flowing into public market offerings compared to the previous week. Despite this downturn, banking emerged as the dominant sector, accounting for 31% of the total funds raised. Notably, Fulton Bank and JMB Banks secured substantial investments, with $287.5 million and $201.6 million respectively. Co-working followed closely, with WeWork leading the charge with a $450 million offering. Biotech also made a notable impact, securing 26% of the total funds raised, amounting to $410 million from 9 different entities, including standout names like Soleno Therapeutics, Context Therapeutics, and Abeona Therapeutics.

One of the standout moments of the week was NexGen's offering of C$180 million, led by Aitken Mount Capital Partners in Australia. NexGen is a company we have followed for years and is a darling of the TSX. Additionally, WeWork made headlines with its revised bankruptcy deal, which includes up to $450 million in fresh funding from SoftBank and other key stakeholders such as King Street Capital and Cupar Grimmond, an affiliate of WeWork's technology partner Yardi Systems.

Notable investors: This week, HDFC Mutual Fund led Cyient's offering of nearly $25 million, while Aitken Mount Capital Partners led NexGen's C$180 million offering.