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. Outmarket AI
Outmarket AI is an AI-driven platform designed to transform commercial insurance operations by enhancing efficiency and productivity. The platform integrates data to provide real-time insights, automate workflows, and streamline processes such as data analysis, submission generation, and market placement. It serves brokers, managing general agents (MGAs), and wholesalers, helping them boost sales, improve strategic performance, and accelerate growth.
- Sector: Financials
- Industry: Insurance
- Last known transaction date: Seed, $4.7M, announced in March 2025
- Major sponsors/backers: Led by Fika Ventures, with participation from TTV Capital and Dash Fund
- Why timing suggests a near-term transaction: With a seed round completed in March 2025, Outmarket AI is entering the typical 12–18 month window when early-stage insurance technology companies begin pursuing follow-on capital. As product adoption, carrier or broker engagement, and early revenue signals take shape, this period often aligns with a seed extension, Series A raise, or strategic minority investment from industry-focused partners.
2. TRIMTECH Therapeutics Limited
TRIMTECH Therapeutics Limited is a biotechnology company founded in 2023, headquartered in Cambridge, UK. The company specializes in developing novel small molecule therapeutics that selectively degrade protein aggregates associated with neurodegenerative and inflammatory diseases, including Alzheimer's and Huntington's diseases. Their proprietary technology, known as TRIMTACs, leverages the unique properties of the E3 ubiquitin ligase TRIM21 to target and remove toxic protein aggregates while preserving the functional form of the target protein. The leadership team includes CEO Nicola Thompson, with academic co-founders Leo James from the MRC Laboratory of Molecular Biology and Will McEwan from the UK Dementia Research Institute at the University of Cambridge. In September 2025, TRIMTECH was recognized as one of Fierce Biotech’s 'Fierce 15' for 2025, highlighting its innovative approach in the biotechnology sector.
- Sector: Health Care
- Industry: Pharmaceuticals
- Last known transaction date: Seed, $31M announced in March 2025
- Major sponsors/backers: Led by Cambridge Innovation Capital and SV Health Investors’ Dementia Discovery Fund, with participation from M Ventures, Pfizer Ventures, Eli Lilly and Company, MP Healthcare Venture Management, Cambridge Enterprise Ventures, and Start Codon
- Why timing suggests a near-term transaction: Following a sizable $31M seed round in March 2025, TRIMTECH Therapeutics is entering the period when well-capitalized early-stage pharma companies often begin advancing key preclinical milestones. As data readouts, IND preparation, or strategic partnering discussions progress, this stage frequently aligns with a Series A raise or a strategic investment from larger pharmaceutical or biotech partners.
3. Ataraxis
Ataraxis AI is a New York-based company specializing in AI-driven precision medicine for oncology. Their flagship product, Ataraxis Breast, is the first AI-native prognostic test for breast cancer, aiming to enhance treatment selection and patient outcomes by integrating multi-modal data.
- Sector: Health Care
- Industry: Health Care Technology
- Last known funding round: Series A, $20.4M, announced March 2025
- Major sponsors/backers: Led by AIX Ventures with participation from Thiel Bio, Founders Fund, Bertelsmann Investments, Giant Ventures, Obvious Ventures, and angel investors including Mario Schlosser and Ryan Fukushima
- Why timing suggests a near-term transaction: After raising a $20.4M Series A in March 2025, Ataraxis is entering the typical 18–24 month window when healthcare technology companies begin evaluating their next capital step. As clinical adoption, product validation, and revenue visibility improve, this stage often aligns with a Series B raise or a strategic minority investment from healthcare systems, payers, or industry partners looking to support scaled deployment.
4. Auxia
Auxia is a composable, AI-based platform designed to help businesses accelerate product-led growth. It offers a suite of tools that drive product growth, activate and engage customers, and monetize customer interactions. These tools enable the creation and deployment of hyper-personalized campaigns and growth experiments, leveraging machine learning models that adapt to user actions and preferences.
- Sector: Information Technology
- Industry: Software
- Last known funding round: Series A, $23.5M, announced March 2025
- Major sponsors/backers: Led by VMG Partners with participation from MUFG Innovation Partners, Incubate Fund, Vela Partners, Stage 2 Capital, and over 50 industry leaders including Google CMO Lorraine Twohill, Booking.com CMO Arjan Dijk, and former Meta Chief Business Officer David Fischer
- Why timing suggests a near-term transaction: After closing a $23.5M Series A in March 2025, Auxia is entering the typical 18–24 month post-raise window when software companies begin preparing for their next financing. As enterprise adoption, revenue scaling, and product expansion funded by the Series A mature, this period often aligns with a Series B raise or a strategic minority investment to accelerate go-to-market execution.
5. Liminal Experiences, Inc.
Liminal Experiences, Inc. is a company focused on creating user-generated content (UGC) games for narrative action role-playing games (RPGs). Founded in 2022 and headquartered in Santa Monica, California, the company aims to make the world a more creative place by fusing two interconnected game modes—a joyful creation experience and socially immersive adventure gameplay—to inspire creativity and storytelling. The company's first title, "Liminal: Skies," was announced in September 2025, showcasing AI-powered creation capabilities. The CEO of Liminal Experiences is Brendan Mulligan, who previously served as the Director of Corporate Development at Riot Games. The company has a small team, with an employee count between 1 and 10.
- Sector: Communication Services
- Industry: Entertainment
- Last known funding round: Seed, $5.8M, announced March 2025
- Major sponsors/backers: Goodwater Capital, BITKRAFT Ventures, Riot Games, OTK Network, Marc Merrill
- Why timing suggests a near-term transaction: With a seed round completed in March 2025, Liminal Experiences is entering the typical 12–18 month window when entertainment and experiential platforms begin seeking follow-on capital. As audience engagement, content validation, and monetization pathways become clearer, this stage often aligns with a seed extension, Series A raise, or strategic investment from media or entertainment partners.
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!
