Latest news with #WellingtonManagement
Bloomberg
2 days ago
- Business
- Bloomberg
Mutual Fund Giant Wellington Looks to Break Into Business of Buying, Selling PE Stakes
Wellington Management Co., which is best-known for traditional stockpicking funds, is plotting a move into the fast-growing business of buying and selling private equity stakes. The money manager is in talks with potential hires to start a so-called secondaries arm to acquire illiquid positions from other investors, according to people familiar with the matter.
CNA
11-06-2025
- Business
- CNA
Voyager Technologies valued at $3.8 billion as shares more than double in NYSE debut
Shares of Voyager Technologies rose 125 per cent in their New York Stock Exchange debut on Wednesday, valuing the defense and space firm at $3.8 billion. The Denver, Colorado–based company's stock opened at $69.75 apiece, above the $31 offer price. Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO. Voyager's successful flotation comes months after defense and space systems maker Karman went public. Karman's stock has more than doubled as of Tuesday's close. Asset managers Janus Henderson Investors and Wellington Management had separately indicated interest in buying up to $60 million of Voyager's shares in the IPO.
Reuters
11-06-2025
- Business
- Reuters
Voyager Technologies valued at $3.8 billion as shares more than double in NYSE debut
June 11 (Reuters) - Shares of Voyager Technologies (VOYG.N), opens new tab rose 125% in their New York Stock Exchange debut on Wednesday, valuing the defense and space firm at $3.8 billion. The Denver, Colorado–based company's stock opened at $69.75 apiece, above the $31 offer price. Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO. Voyager's successful flotation comes months after defense and space systems maker Karman (KRMN.N), opens new tab went public. Karman's stock has more than doubled as of Tuesday's close. Asset managers Janus Henderson Investors and Wellington Management had separately indicated interest in buying up to $60 million of Voyager's shares in the IPO.
Time of India
11-06-2025
- Business
- Time of India
AI company Glean hits $7.2 billion in valuation in latest funding round
Glean said on Tuesday it was valued at $7.2 billion in its latest funding round - the third capital raise for the U.S. enterprise AI search startup in less than two years. The round marks a nearly 57% jump in valuation for Glean, underscoring strong investor appetite for startups leveraging AI use cases. In the previous funding in September, the company's valuation had more than doubled in just over six months. Businesses and governments worldwide are rushing to adopt artificial intelligence, with applications ranging from enterprise productivity and drug discovery to infrastructure and beyond. Palo Alto, California-based Glean raised $150 million in the funding round led by asset manager Wellington Management. Startups are choosing to stay private for longer, raising larger funds in late-stage rounds, as public market recovery remains slow. "Founders avoid the volatility of public markets and employees receive secondary-market liquidity via structured rounds," said Michael Ashley Schulman, partner at Running Point Capital Advisors. Glean, which surpassed $100 million in annual recurring revenue in its last fiscal year, was founded in 2019 by a team of former Google search engineers. It uses AI assistants and large language models to generate personalized answers to queries. According to Schulman, Glean's 72x valuation multiple on revenue is "punchy", but investors are getting "early access to a franchise" since the company is cash-flow positive. Earlier this year, the company rolled out its Glean Agents offering, which allows businesses to use AI to automate operations. It is on track to support 1 billion agent actions by the end of 2025, the company said. Industry leaders have hailed AI-based agents as a transformative-use case of the technology. Microsoft CEO Satya Nadella has also suggested that the agents will disrupt how we use software-as-a-service, a business model that has long been the staple of software startups.
CNA
10-06-2025
- Business
- CNA
Search startup Glean's valuation hits $7.2 billion in AI funding boom
Glean said on Tuesday it was valued at $7.2 billion in its latest funding round - the third capital raise for the U.S. enterprise AI search startup in less than two years. The round marks a nearly 57 per cent jump in valuation for Glean, underscoring strong investor appetite for startups leveraging AI use cases. In the previous funding in September, the company's valuation had more than doubled in just over six months. Businesses and governments worldwide are rushing to adopt artificial intelligence, with applications ranging from enterprise productivity and drug discovery to infrastructure and beyond. Palo Alto, California-based Glean raised $150 million in the funding round led by asset manager Wellington Management. Startups are choosing to stay private for longer, raising larger funds in late-stage rounds, as public market recovery remains slow. "Founders avoid the volatility of public markets and employees receive secondary-market liquidity via structured rounds," said Michael Ashley Schulman, partner at Running Point Capital Advisors. Glean, which surpassed $100 million in annual recurring revenue in its last fiscal year, was founded in 2019 by a team of former Google search engineers. It uses AI assistants and large language models to generate personalized answers to queries. According to Schulman, Glean's 72x valuation multiple on revenue is "punchy", but investors are getting "early access to a franchise" since the company is cash-flow positive. Earlier this year, the company rolled out its Glean Agents offering, which allows businesses to use AI to automate operations. It is on track to support 1 billion agent actions by the end of 2025, the company said. Industry leaders have hailed AI-based agents as a transformative-use case of the technology. Microsoft CEO Satya Nadella has also suggested that the agents will disrupt how we use software-as-a-service, a business model that has long been the staple of software startups.
