Blackstone formed Waterfield Midstream.
Waterfield Midstream is a full-cycle provider of water management services, including water gathering, treatment, recycling and disposal, to provide solutions to producers in the Permian Basin. The company secured $500m equity commitment to pursue greenfield development and acquisitions of water-related infrastructure, helping producers minimize the environmental impact and operating cost of oil and gas production.
Erik Belz, Principal at Blackstone, said: “We believe that Waterfield addresses a critical need of producers in the Permian Basin both in terms of infrastructure and quality of service. Waterfield’s subsurface capabilities and engineering track record set it apart from other offerings in the market.”
Hidden Harbor Capital closed its debut fund at $265m.
Florida-based Harbor Capital Partners closed its debut buyout fund at over $265m, above its target, with contributions from a balanced mix of endowments, foundations, pensions, family offices and funds of funds.
“We are humbled by all of the support from our limited partners, and look forward to building great companies rooted in our core values of integrity, team, high-performance, passion and a commitment to constant improvement,” said John Caple, Managing Partner.
Probitas Partners acted as the exclusive placement agent and Kirkland & Ellis acted as fund counsel for Hidden Harbor.
Engage3 obtained financing from Wells Fargo Strategic Capital.
Davis, California-based Engage3, a pricing platform for retailers and brands, secured an undisclosed amount of financing from Wells Fargo Strategic Capital, a principal investing and merchant division of Wells Fargo & Company.
“In a world where 71% of consumers say that price determines whether they would shop at your store over another, the use of AI and algorithms to deliver the best price image to shoppers while achieving revenue and profitability goals is the clear answer,” said Ken Ouimet, CEO and founder of Engage3. “Price optimization as a category failed to reach its promise in the ‘90s because of the lack of good quality data as input. Every retailer now understands the importance of having clean, accurate and timely competitive data to formulate the best pricing strategy. We have addressed this problem, and our customers are now reaping the rewards of data-driven, scientific pricing.”
Andreessen Horowitz leads Series E $250m round for Databricks.
Databricks, the leader in unified analytics and founded by the original creators of Apache Spark, secured $250m in a Series E funding round led by Andreessen Horowitz. Coatue Management, Microsoft, and New Enterprise Associates also participated. This most recent round of funding brings Databricks’ total amount raised to $498m and raises the company’s valuation to $2.7bn.
“Databricks has gone from almost no revenue to over $100m in annual recurring revenue in just three years, putting us among the fastest growing enterprise software companies,” said Ali Ghodsi, CEO and co-founder of Databricks. “What’s driving this incredible growth is the market’s massive appetite for Unified Analytics. Organizations need to achieve success with their AI initiatives and this requires a Unified Analytics Platform that bridges the divide between big data and machine learning.”
Personal Capital obtained $50m in IGM-led Series F financing round.
Silicon Valley-based Personal Capital, a digital wealth management company, secured $50m in Series F funding. IGM Financial led the round. The additional investment comes amidst a flurry of development and growth for the business and reflects IGM Financial’s confidence in the business. Personal Capital has recently surpassed $8.5bn in assets under management and 2m registered users on its platform, which tracks more than $650bn in aggregated account value.
“We have stayed laser-focused on our mission of building a business that uses the ideal combination of technology and advisors to help Americans achieve clarity and confidence in their financial lives,” said Jay Shah, CEO of Personal Capital. “Ongoing support from our investors has been integral to scaling up Personal Capital and delivering on our mission.”
