Hello reader,

Welcome to the March 2021 issue of The Dealmaker.

2021 is expected to be another blockbuster year for VC-backed listings, with several high-profile names including Instacart and Robinhood considering going public. More and more SPACs are also looking for tech targets – potentially a bigger concern for private equity.

Here are some of the most important M&A news we have read this month:

      • Canadian Pacific agrees to buy Kansas City Southern for $29bn – Financial Times
      • National Grid to buy Western Power in £14.2bn deal – Financial Times
      • ironSource to go public via $11 billion merger with Thoma Bravo-backed SPAC – Reuters
      • Railroads Strike a $25 Billion Merger – The Wall Street Journal
      • Chinese tech giant Baidu to raise $3.1 billion in Hong Kong listing – CNBC
      • Instacart raises $265 million, more than doubling its valuation to $39 billion – New York Times
      • Despite IPO stampede, Stripe sticks with mega-rounds in private market – Pitchbook
      • 10 big things: PE, NFTs and investing in sports scarcity – Pitchbook