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Four metrics show up on nearly every private fund report. Here's what each one actually measures, how they work together, and where they can mislead you if read in isolation.
Morgan Holycross, Marketing Manager · October 20, 2026
Data sourced from Dakota Private Markets, the private fund performance platform powered by Dakota. Learn More | Request Access
For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In September alone, we added more than 2,700+ new private company transactions, bringing the total to over 32,000+ searchable deals across sectors, industries, and transaction types in Dakota Private Markets
Inside Dakota Private Markets, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota’s team monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 communication services transactions.
VodafoneZiggo agreed to sell its passive mobile tower infrastructure to an entity owned by funds managed by DigitalBridge, TD Greystone Infrastructure, and L&G for approximately EUR 669 million. The buyers will combine the towers with DigitalBridge’s Belgium Tower Partners to form an independent platform of more than 6,600 sites across Belgium and the Netherlands. VodafoneZiggo keeps control of its active network, spectrum, and service quality, and will use the proceeds to reduce debt ahead of the planned 2027 Ziggo Group listing in Amsterdam. Closing is subject to competition clearance and Works Council consultation, with VodafoneZiggo expecting year-end 2026 and DigitalBridge citing early 2027.
WIOCC Group, a pan-African open-access digital infrastructure provider, signed a Shareholder Subscription Agreement with Africa Finance Corporation and Vision International Investment Company (Vision Invest) for a combined USD 300 million investment. The capital will fund data centre deployment and consolidation, expansion of open-access terrestrial fibre into new markets, and the addition of selected subsea assets. Existing shareholders, made up of African telecom operators and development finance partners, remain in place, and Lazard advised WIOCC.
Bain Capital’s Private Credit Group acted as lead lender and administrative agent on a USD 250 million senior credit facility for Playfly Sports, a sports revenue maximization company and portfolio company of Access Holdings. The financing will support Playfly’s continued growth across sports media, sponsorship, and technology. Bain Capital Credit’s Private Credit Group managed approximately USD 24 billion of capital as of June 30, 2026.
Fever, a live entertainment and culture tech platform, raised a USD 250 million primary equity round led by EQT, with participation from Point72 Private Investments, Baillie Gifford, and existing investors, the largest ever for a live-entertainment tech company. Fever has more than tripled its revenue over the past three years while staying EBITDA-positive. The capital will fund expansion beyond its 55 countries and new partner technology, supported by a new agreement making it an Official Supplier to Formula 1 through 2031.
Hubble Network, a satellite network that connects standard Bluetooth LE devices to orbit, raised a USD 200 million Series C at a USD 1.6 billion valuation, led by Smith Point Capital with Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator, and RPM Ventures. The round brings total funding to USD 300 million, one year after its USD 70 million Series B. The capital will go toward expanding its constellation from 6 satellites to a planned 60 by 2030, with more than 500,000 devices already active and customers such as Samsara building on it.
Want to track communication services deal activity like this as it happens? Explore the full transactions tab in Dakota Private Markets for real-time, filterable data on every deal in this sector.
Thryv Holdings agreed to sell its print directories business, covering Print Yellow and White Pages in the U.S., Australia, and New Zealand plus their digital editions, to Carolwood L.P. in an all-cash transaction for total consideration of USD 142 million. Thryv keeps its Internet Yellow Pages and other online properties and will use the net proceeds to repay debt and other liabilities as it focuses on its AI-powered Growth Platform. The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
telMAX, an independent Ontario fibre internet provider, secured USD 215 million in growth financing through two parallel transactions: a USD 105 million structured investment from funds managed by Hamilton Lane, and a USD 110 million increase to its credit facility from Power Sustainable Infrastructure Credit, Palistar Capital, and MidStar Capital. The capital will fund the network’s expansion into the western Greater Toronto Area, including Burlington, Brampton, and Mississauga. Bank Street Group advised telMAX.
Funds managed by Hamilton Lane completed a USD 105 million structured growth equity investment in telMAX, an independent Ontario provider of 100% pure fibre internet, TV, and home phone. It is a new partnership for telMAX, announced alongside a parallel USD 110 million credit facility increase from Power Sustainable Infrastructure Credit, Palistar Capital, and MidStar Capital. The capital will fund expansion into the western Greater Toronto Area, including Burlington, Brampton, and Mississauga, and Bank Street Group advised telMAX.
Scholastic signed a definitive agreement to acquire Cottage Door Press, the largest independent children’s publisher in the U.S. and a leader in early childhood board and novelty books, for approximately USD 71 million before purchase price adjustments. Cottage Door generated about USD 45 million in net revenue over the twelve months ended May 31, 2026, and its Luna StoryTime electronic toys will be spun off before closing. Scholastic will fund the deal with cash on hand and revolver borrowings, and it is expected to close by the end of 2026, subject to third-party consents, new license agreements, and a seller shareholder approval.
Kinepolis completed its acquisition of 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment (formerly National Amusements), an agreement announced June 11, 2026. The theaters are in Massachusetts, New York, Ohio, and Rhode Island (six owned, the rest leased), and add 164 screens and 17,794 seats to Kinepolis’ portfolio. They drew about 4 million visitors and generated USD 90+ million in revenue in 2025, and will continue to operate under the Showcase brand. The purchase price was not disclosed.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Private Markets, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, request access to Dakota Private Markets.
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