Tracking when private companies are nearing a sale, recap, or financing event has always been a guessing game. With thousands of sponsor-backed firms spread across sectors and geographies, most deal teams are forced to react after the market moves.
Investors, bankers, and service providers struggle to know which private companies are gearing up for a transaction or capital raise. Signals are scattered, opaque, and nearly impossible to track across thousands of PE- and VC-backed businesses.
Dakota centralizes those signals (holding periods, funding rounds, platform acquisition dates, ownership changes, and exit timing patterns) into one predictive transaction-readiness tool. Instead of waiting for headlines, users can see which companies are showing the strongest likelihood of pursuing a sale, recapitalization, or new financing before the market knows.
Below is today’s list of five PE- or VC-backed companies that, based on their hold period, financing stage, and last transaction date, appear to be credible candidates for a sale or next-round raise.
Nothing is guaranteed, but these companies fall squarely within the timing windows where sponsors typically look to generate liquidity or secure additional capital.
Sourced from Dakota Sponsor Backed Companies.
1. Clio
Clio is a cloud-based legal practice management platform that assists law firms in managing cases, billing, and client relationships. Founded in 2008, Clio offers a suite of tools designed to streamline legal workflows, enhance client collaboration, and improve overall firm efficiency. The platform serves a diverse clientele, including solo practitioners, small to mid-sized firms, and large enterprises across various legal practice areas.
- Sector: Information Technology
- Industry: Software
- Last known transaction date: Series F, $900M, announced in July 2024 Series G, $500M announced in November 2025
- Major sponsors/backers: Led by New Enterprise Associates (NEA), TCV, Goldman Sachs Asset Management, Sixth Street Growth, JMI Equity
- Why timing suggests a near-term transaction: Clio’s $500M Series G announced in November 2025, following its $900M Series F in July 2024, highlights an accelerated cadence of late-stage capital formation. For a private equity–backed, scaled market leader, this level of sustained sponsor support often precedes secondary liquidity, strategic capital, or broader transaction discussions, as the company funds expansion initiatives while longer-term exit pathways become more clearly defined.
2. Devoted Health
Devoted Health is a healthcare company founded in March 2017, dedicated to improving the health and well-being of older Americans by providing Medicare Advantage plans integrated with personal guides and advanced technology. The company offers comprehensive benefits, including prescription drug coverage, dental and eyewear services, and fitness memberships, aiming to deliver a holistic healthcare experience for seniors.
- Sector: Health Care
- Industry: Health Care Providers
- Last known transaction date: Series E, $175M in December 2023 and additional $112M in August 2024.
- Major sponsors/backers: White Road Investments, The Space Between, Cox Enterprises.
- Why timing suggests a near-term transaction: Devoted Health’s $287M Series E announced in August 2024 places the company approximately 18 months removed from its most recent financing by early 2026. As a private equity–backed healthcare platform, this stage often coincides with increased evaluation of strategic capital, secondary liquidity, or transaction opportunities, particularly as scale, unit economics, and long-term positioning within value-based care become clearer.
3. BIMINI Biotech
BIMINI Biotech is a preclinical-stage biotechnology company founded in 2019 and headquartered in Leiden, the Netherlands. The company specializes in developing novel small molecule therapeutics targeting hematological cancers, including various subtypes of lymphoma and leukemia. Their lead compounds focus on modulating the Wiskott-Aldrich Syndrome Protein (WASp), aiming to inhibit cancer cell growth through a unique mechanism of action. The company has established collaborations with institutions such as the Leiden Academic Centre for Drug Research (LACDR) to advance their preclinical research. In January 2025, BIMINI Biotech secured a €3 million seed investment round led by Torrey Pines Investment, with participation from InnovationQuarter Capital and Libertatis Ergo Holding, to accelerate the development of their WASp modulators.
- Sector: Health Care
- Industry: Biotechnology
- Last known funding round: Seed Round, €3M, announced in January 2025
- Major sponsors/backers: Torrey Pines Investment, InnovationQuarter Capital, Libertatis Ergo Holding
- Why timing suggests a near-term transaction: BIMINI Biotech’s €3M seed round announced in January 2025 places the company roughly 12–18 months past its initial institutional financing by mid to late 2026. At this stage, venture-backed biotech companies typically begin preparing for their next growth round or strategic partnerships, as early scientific progress, proof points, and pipeline development drive increased interest from follow-on investors or strategic buyers.
4. Helsing
Helsing is a Germany-based defense technology company specializing in artificial intelligence (AI) solutions to enhance military capabilities and decision-making processes. Founded in 2021, the company integrates AI with existing and new hardware platforms to provide precision mass and autonomous capabilities to democracies, enabling them to deter and protect against external threats. Helsing's product suite includes Altra, HX-2, SG-1 + LURA, Cirra, and Centaur, each designed to augment various aspects of defense operations.
- Sector: Industrials
- Industry: Aerospace & Defense
- Last known funding round: Acquired Blue Ocean in October 2025
- Major sponsors/backers: Backed by General Catalyst, Lightspeed, Plural, Accel, and others.
- Why timing suggests a near-term transaction: Helsing’s acquisition of Blue Ocean in October 2025 signals an active phase of strategic expansion and balance-sheet deployment. Following a major acquisition, venture-backed platforms often remain engaged in continued M&A, strategic capital discussions, or broader transaction activity, as integration progress, contract momentum, and long-term positioning within the defense technology ecosystem become clearer.
5. Intelex Vision
Intelex Vision is a UK-based company specializing in AI-driven video analytics for real-time surveillance. Their flagship product, iSentry, autonomously monitors and analyzes CCTV feeds to detect safety and security threats, providing immediate alerts to operators through an intuitive interface. The company serves sectors such as critical infrastructure, transportation, healthcare, and urban environments, processing over 2 billion hours of video monthly.
- Sector: Industrials
- Industry: Commercial Services
- Last known funding round: Series A, €5.6M, announced January 2025.
- Major sponsors/backers: Acurio Ventures, Adara Ventures, and Inveready participated in this funding round.
- Why timing suggests a near-term transaction: Intelex Vision’s €5.6M Series A announced in January 2025 places the company roughly 12–18 months removed from its most recent raise by mid to late 2026. At this stage, venture-backed technology platforms often begin exploring follow-on growth capital, strategic partnerships, or early acquisition interest, particularly as product validation, customer adoption, and commercial momentum become more clearly established.
Use Dakota’s Sponsor Backed Company Intelligence to Spot Likely Exits Before the Market Does
Dakota’s private company data gives you a real-time view into thousands of sponsor-backed companies, including platform acquisition dates, funding rounds, parent sponsors, add-on activity, and sector categorization.
Instead of guessing where companies are in their lifecycle, you can instantly identify which ones are approaching the typical timing windows for a sale or recap.
Fully integrated into Dakota Marketplace, this dataset enables deal sourcers, investor relations teams, and allocators to anticipate transactions, build targeted outreach lists, and stay ahead of market announcements, every single day.
To explore more companies likely to transact, book a demo of Dakota Marketplace!
