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As with any startup, it is important to have the right people on board in order to move forward. Braun is positioned to leave a legacy for Hybe. However, some key men are temporarily removed from Hybe: BTS, which is currently on hiatus, is not expected to return until 2025. This is because its seven members — RM, Jin Suga, J Hope, Jimin V, Jungkook and Jungkook — have been completing their South Korean military service.

In this sense, Silicon Valley is very similar to K-pop. When a key man is absent (or a boy band), much is uncertain.

See you on Monday

Allie Garfinkle

Twitter: @agarfinks

Email: alexandra.garfinkle@fortune.com

Send us your deal for the Term Sheet Newsletter here.

Joe Abrams has curated the deals section in today’s newsletter.

VENTURE DEALS

Sila, an Alameda-based battery materials firm, raised $375m in Series G funding. Existing investors Sutter Hills Ventures and T-advised accounts participated in the round. Rowe Price Associates led this round, which was joined by existing investors Bessemer Venture Partners and Coatue.

Clay, an AI-based technology provider based in New York City that automates sales and marketing processes has raised $46 million as part of Series B funding. Meritech Capital led this round, and was joined by First Round, Sequoia and Meritech Capital.

Odaseva raised $54 million Series C funding. Silver Lake Waterman led this round, which was also joined by existing investors F-Prime and Eight Roads as well as new investors Crescent Cove and Eurazeo.

e-Zinc is a Toronto-based developer who has developed a zinc-air battery for long-term energy storage. The company raised $31 million as part of its Series A2 financing. Evok Innovations led this round, which was also joined by Mitsubishi Heavy Industries (MHI), Export Development Canada, Ultratech Capital Partners and existing investors.

Innatera is a Rijswijk-based producer of neuromorphic processing. The company raised $21 million from Innavest. InvestNL. EIC Fund. MIG Capital. Matterwave Ventures.

Clearstory, the San Francisco-based change order management software for the construction industry, has raised $16 million as Series B funding. Prudence led the funding round, which was joined by Industry Ventures Jackson Square Ventures Building Ventures GS Futures and Cloud Apps Capital Partners.

MagicSchool AI, an AI platform based in Denver, Colorado, designed specifically for educators has raised $15 million as Series A funding. Bain Capital Ventures was the lead investor in this round, which also included Adobe Ventures, Common Sense Media and angel investors.

AuthZed raised $12 million from investors. General Catalyst, Work-Bench and Y Combinator were also investors in the round.

Synthflow, an AI voice assistant startup based in Berlin, Germany, raised $7.4M in seed funding. Singular led the funding round, and was joined by Atlantic Labs and other investors.

Synthpop, an AI platform based in Wellesley, Massachusetts, that automates health care workflows has raised $5.6 million. Peterson Ventures led this round, which was also joined by defy.vc. Zelda Ventures. Think+ Ventures. and OVO Fund.

PRIVATE EQUALITY

Vista Equity Partners acquired Model N, an revenue optimization and compliance platform based in San Mateo, Calif., for approximately $1.25 Billion.

Brighton Park Capital invested in PortSwigger a Knutsford-based application security provider, $112 million.

Avenue Sports Fund has acquired a minority stake CityPickle a New York City based network of pickleball club. The financial terms were not disclosed.

Bernhard Capital Partners has acquired Brailsford & Dunlavey. The Washington, D.C. based company provides project and construction management for educational institutions, among others. The financial terms of the transaction were not disclosed.

Kian Capital has acquired a majority interest in Diamond Landscaping a residential landscaping company based in Sylmar, Calif. The financial terms were not disclosed.

Swander Pace Capital has acquired a majority interest in Inovata Foods Corp. based in Edmonton, Alberta, a manufacturer of frozen entrees under private label. The financial terms were not disclosed.

TPG has agreed to purchase a majority stake of Altimetrik – a digital business and product engineering firm based in Southfield, Michigan. The financial terms were not disclosed.

EXITS

GrowthCurve Capital has acquired Duetto from Warburg Pincus, among others. Duetto is a San Francisco based provider of revenue-management software for the hospitality industry. The financial terms were not disclosed.

IPOS

WEBTOON, an online cartoon platform based in Los Angeles, Calif., raised $315 through a Nasdaq offering of 15,000,000 shares priced at $1 each. The company reported $1.3 billion in revenue during the year ending March 31st, 2024.

– Tamboran Resources , a Barangaroo-based company that explores and produces natural gas in the Northern Territory of Australia raised $75 million through an offering of 3.1 millions shares priced at $24 each on the New York Stock Exchange.

FUNDS + FUNDS

The General Partnership in San Francisco raised $300 million to invest in its second fund, which focuses on “sweat equity”, where recruiters, engineers and other professionals work alongside the founders.

Ironspring Ventures of Austin, Texas, a venture capital firm focused on manufacturing, construction and other industrial sectors, raised $100 million to fund their second fund.

PEOPLE

Forbion, a venture capital firm based in Naarden, The Netherlands and Munchen, Germany with offices in Boston, Mass., has hired Josh Brumm to be a general partner. He was previously president and CEO at Dyne Therapeutics.

G2 Venture Partners in Portola Valley (California) has hired Anne Fazioli Khiari as a partner. She was previously with Ubiquiti.