> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # ๐Ÿ’ฐ $400M+ VC Funding. Toll Roads Index Up 7%. - URL: https://newsletters.qs.com/400m-vc-funding-toll-roads-index-up-7/ - Published: 2024-02-23T12:22:21.000Z - Updated: 2024-02-23T12:22:20.000Z - Description: Impact Capital Markets #35 looks at our Toll Roads Stock Index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals **Manao ahoana ๐ŸŒด** ๐Ÿ“‰ **Today's Global Economic Update:** Germany's Manufacturing PMI data released yesterday showcased a [notable decline to 42.3 in February 2024, its lowest level in four months](https://www.pmi.spglobal.com/Public/Home/PressRelease/364e4544a94046639310f0af48307a7e?ref=newsletters.qs.com#:~:text=Jan%3A%2045.7%29.-,4%2Dmonth%20low.,4%2Dmonth%20low.&text=February%20saw%20a%20further%20drop,compiled%20by%20S%26P%20Global%20showed.). This unexpected drop underscores the manufacturing sector's ongoing challenges stemming from weak demand. ๐ŸŒž **Deal of the Day:** Antora Energy raised $150M in Series B funding to ramp up production of its factory-made thermal batteries. **What's New?** - ๐Ÿ›ฃ๏ธ **Toll Roads.** Toll Roads Index Up 7% - **๐Ÿ’ฐ Funding.** Thermal batteries, precision medicine, hydrogen power & more - ๐Ÿ’ผ **M&A.** Wastewater systems & health benefits software - ๐Ÿ“… **Economics.** Major inflation data, balance of trade, US GDP growth data + more *For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com) ## **๐Ÿ›ฃ๏ธ** Toll Roads Index Up 7% ![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/02/HolonIQ_HolonIQ_Toll_Roads_HIQTOLL_HCH14GE4EGH0W8UR9ZCF-1.png) HolonIQโ€™s Toll Roads Index grew by 7% over the past year, rebounding from a slight decline in October 2023\. The index's positive performance was largely fueled by Chinese listed entities. Jiangsu Expressway (Market Cap: US$ 8B) saw a 42% increase, while Jiangxi Ganyue Expressway (Market Cap: US$ 1B) rose by 26%. Despite economic challenges in China, traffic has surged, reaching record levels during this year's Chinese New Year period. The lifting of COVID restrictions at the end of 2022 likely played a role in this trend. Chinaโ€™s five-year transportation infrastructure investment plan, which includes proposals to expand expressways by 11%, creates a positive outlook for Jiangsu Expressway and other Chinese counterparts within the index. Major stocks within the index that saw declines include Transurban Group (MCap: US$ 26B), an Australia-based firm that operates and develops toll roads globally. The company's stock declined 8%, despite reaching new record volumes in toll revenue in 2023\. Atlas Arteria (MCap: US$ 5B), another Australian toll operator, also declined by 21%. ## **๐Ÿ’ฐ** Funding ๐ŸŒž **Antora Energy,** a California-based producer of thermal energy storage systems, raised a [$150M Series B](https://www.businesswire.com/news/home/20240222603243/en/Antora-Energy-Raises-150-Million-to-Slash-Industrial-Emissions-and-Spur-U.S.-Manufacturing?ref=newsletters.qs.com) from Decarbonization Partners to ramp up production of its factory-made thermal batteries. ๐Ÿ’Š **Frontier Medicines Corporation,** a California-based precision medicine company, raised a [$80M Series C](https://www.globenewswire.com/news-release/2024/02/22/2834057/0/en/Frontier-Medicines-Announces-Oversubscribed-80-Million-Series-C-Financing-to-Support-Progress-of-Clinical-Stage-Pipeline.html?ref=newsletters.qs.com) from Droia Ventures and Deerfield Management to support the advancement of its clinical studies. ๐Ÿ’จ **GeoPura,** a UK-based hydrogen power company, raised [$70.7M](https://www.cityam.com/hydrogen-power-firm-geopura-to-create-hundreds-of-jobs-after-56m-investment/?ref=newsletters.qs.com) from UK Infrastructure Bank & Sustainable Impact Capital to increase the manufacture and supply of Geopuraโ€™s Hydrogen Power Units (HPUs). ๐Ÿฅ **Carewell,** a Florida-based online retailer focused on providing family caregivers with healthcare resources, raised a [$24.7M Series B](https://www.finsmes.com/2024/02/carewell-secures-24-7m-in-series-b-funding.html?ref=newsletters.qs.com) from MBF Healthcare to accelerate its growth. ๐Ÿ‘ถ **Pozitivf**, a California-based fertility clinic network, raised a [$20M Series A](https://www.finsmes.com/2024/02/pozitivf-secures-20m-in-funding.html?ref=newsletters.qs.com) from MonCap to expand fertility care access in Texas and beyond. ## ๐Ÿ’ผ M&A ## ๐Ÿ’ง **Levine Leichtman Capital Partners,** a California-based private equity firm, [acquired](https://www.llcp.com/levine-leichtman-capital-partners-acquires-usa-water?ref=newsletters.qs.com) USA Water, an operations and maintenance services provider for water and wastewater systems across the Southeast United States. ๐Ÿฅ **Remodel Health,** an Indiana-based health benefits software company, [acquired](https://www.prnewswire.com/news-releases/remodel-health-acquires-peoplekeep-creating-a-powerhouse-in-health-benefits-solutions-302068249.html?ref=newsletters.qs.com) PeopleKeep, a Utah-based software developer specializing in employee health benefits for small businesses. ## **๐Ÿ“…** Economic Calendar Major Inflation Data, Balance of Trade, US GDP Growth Data + More ### Tuesday, February 27th 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Inflation Data, January](https://www.stat.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence, March](https://www.gfk.com/de/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Durable Goods Orders Data, January](https://www.census.gov/?ref=newsletters.qs.com) ### Wednesday, February 28th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Growth Data, Q4](http://www.bea.gov/?ref=newsletters.qs.com) ### Thursday, February 29th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), Februar](https://www.insee.fr/?ref=newsletters.qs.com)y ๐Ÿ‡ฎ๐Ÿ‡ณ [India GDP Data, Q4](https://www.mospi.gov.in/?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Inflation Data (Preliminary), February](https://www.destatis.de/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada GDP Data, Q4](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index Data, January](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending Data, January](https://www.bea.gov/?ref=newsletters.qs.com) ### Friday, March 01st 2024 ๐Ÿ‡จ๐Ÿ‡ณ [China NBS & Caixin Manufacturing PMI (Preliminary), February](http://www.stats.gov.cn/?ref=newsletters.qs.com) ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Consumer Confidence, February](https://www.cao.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data ](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com)[(Flash)](http://www.stats.gov.cn/?ref=newsletters.qs.com)[, February](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy GDP Data, 2024](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), February](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Government Budget, 2023](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI ](https://www.ismworld.org/?ref=newsletters.qs.com)[(Preliminary)](https://www.destatis.de/?ref=newsletters.qs.com)[, February ](https://www.ismworld.org/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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