Lambda Targets $14.5B Valuation in $4B AI Compute Round Led by Coatue and Blackstone

Lambda is raising up to $4 billion at a $14.5 billion pre-money valuation, with Coatue Management and Blackstone leading the round, according to The Wall Street Journal. The San Jose, Calif.-based AI compute infrastructure provider is in the final raise before a planned IPO.

The deal positions Lambda among the most valuable private U.S. AI infrastructure companies outside the model labs. A $14.5 billion pre-money tag on a $4 billion raise would lift the company into a tier dominated by CoreWeave and a handful of "neocloud" rivals.

Which other rounds cleared this week?

Precision medicine biotech Matchpoint Therapeutics closed a $150 million Series B co-led by Nextech Invest and Norwest, with Sanofi Ventures and Digitalis Ventures joining, per Fierce Biotech. The Watertown, Mass.-based company is advancing covalent medicines into the clinic.

Healthleap, a San Francisco startup using AI to flag undiagnosed illness risk in patient records, raised $38 million in seed and Series A funding, according to TechCrunch. Sequoia Capital, First Round Capital and Hummingbird Ventures co-led the round.

French revenue-management and ticketing software provider Wiremind raised €35 million, led by Seaya Andromeda with IronWave and Bpifrance participating, per a press release.

Vitalize, an SF-based hospital staffing and scheduling company, secured $31 million led by Oak HC/FT, joined by Norwest Ventures, .406 Ventures, Constellation Ventures, Y Combinator and MemorialCare Innovation Fund, Fierce Healthcare reported.

Other notable venture rounds:

• Indian B2B edtech startup ByteXL raised $9 million led by Elevar Equity, with Kalaari Capital and the Michael & Susan Dell Foundation joining, per Entrackr.
• European cybersecurity and managed IT provider Netsec raised more than €8.9 million led by Partech, with Primo Capital and View Different participating, per EU-Startups.
• San Ramon, Calif.-based agentic enterprise platform Trmeric raised a $6.5 million seed led by Hitachi Ventures, joined by Schema Ventures, CerraCap Impact Venture Capital, FalconX Ventures and Executive Venture Fund.
• San Francisco data security startup Hilt raised $4.2 million in seed funding led by Array Ventures, joined by Verdict Capital, Base10 Partners, Brickyard, Liquid 2 Ventures, Sequel, the Sarah Smith Fund and Alumni Ventures.
• NYC fintech Agentiq Sports, which lets fans invest indirectly in professional athletes' careers, raised $4 million led by defy.vc.
• NYC-based invoice verification company Iridium Credit raised $3 million led by Field Ventures and MGV.
• Indian agribusiness AI agent developer Myca raised $1.3 million in pre-seed funding led by Kriscore Capital and Eximius Ventures, with Indigram Labs Foundation joining, per AgFunder News.

What is Bain and GIC's $3.2 billion WHI plan?

Bain Capital and Singapore's GIC are exploring an IPO or sale of Japanese HR software business WHI Holdings at a valuation of at least 500 billion yen ($3.2 billion), Reuters reported, citing people familiar with the matter. The process would test investor appetite for Japanese enterprise software assets after a stretch of yen-driven repricing.

Which private equity deals moved?

• Ardurra Group, backed by Littlejohn, acquired Abilene, Texas-based water and wastewater engineering consulting firm Enprotec/Hibbs & Todd, per BusinessWire.
• Bertram Capital invested in Longwood, Fla.-based coatings and restoration services provider Percopo Coatings Company.
• CFGI, backed by Carlyle and CVC Capital Partners, acquired Dallas-based BAO Consulting Group.
• Stryten Energy, backed by Atlas Holdings, acquired motive battery companies C&D Technologies of Horsham, Penn. and Trojan Battery Company of Santa Fe Springs, Calif. Silver Point led $650 million in financing supporting the acquisition, per PR Newswire.
• Univar Solutions, backed by Apollo, acquired Trenton, N.J.-based specialty distributor H.M. Royal, which serves rubber, plastics, adhesives, sealants and coatings additives markets.
• Copenhagen Infrastructure Partners invested in Italian biomethane developer Via Verde, which operates 20 projects across Italy.

How large are the new fund pools?

Endeavor Catalyst, an NYC-based venture firm tied to the Endeavor network of entertainment and entrepreneurship, raised $320 million for its fifth fund, per Axios reporting. The capital will back Endeavor-affiliated founders globally.

TCGX raised $600 million for its Asia Life Sciences Fund I, Fierce Biotech reported. The fund will bankroll Asian biotechs across development stages.

The Lambda round, the WHI exit exploration and Stryten's dual-battery deal point to three parallel themes shaping the week: continued capital concentration around AI infrastructure, a revival of large-cap Japan exits and a renewed roll-up push in energy and water services. Lambda's pricing will be the next data point investors watch before a 2026 IPO window firms up.