Happy Wednesday. Public markets rebounded slightly yesterday, but venture investors and startups are still seeking to adjust to rapidly changing conditions around the world as a result of the coronavirus. One thing seems clear: Many previous bull-market assumptions will be reconsidered across the industry, from startup fundraising conditions and valuations at all stages, to venture firms raising new funds, to limited partners' venture allocations.

Meanwhile, Europe has seen increasing strength in venture fundraising, and Life Sciences Partners is the latest to raise a fund, Brian Gormley reports. Plus, startup SpotOn has raised $50 million for its payments and enterprise software, Marc Vartabedian reports.  

And now on to the news...

New fund alert. Life Sciences Partners has secured $600 million for a new venture fund that is enabling the Amsterdam-based firm to expand by backing mature as well as early-stage biomedical companies, WSJ Pro's Brian Gormley reports.

• The firm set out to raise $450 million for LSP 6 about a year and a half ago and held a final close at its hard cap on Friday, said Joachim Rothe, a managing partner and co-owner of the firm, which closed its fifth fund at $280 million in 2016.
   
• LSP historically has focused on early-stage startups, but with this new vehicle is now also considering companies raising later-stage or crossover rounds as well as startups that are spinning out of pharmaceutical companies with later-stage assets, Dr. Rothe said.
   
• Investments from LSP 6 include Arvelle Therapeutics GmbH, which last year raised a $180 million financing led by LSP to develop an anti-epileptic drug in late-stage development. LSP expects to make a total of 15 to 18 investments with the new fund, Dr. Rothe said.
   

Payments startup. SpotOn Transact Inc., a startup that offers payments and other enterprise software, raised $50 million as the company aims to build off its growth over the past year in the food and beverage industry, WSJ Pro's Marc Vartabedian reports. The Series B was led by venture firm 01 Advisors, which was founded by former Twitter Inc. executives including former Twitter Chief Executive Dick Costolo, while returning investors Dragoneer, Franklin Templeton and EPIQ Capital Group participated. San Francisco-based SpotOn develops businesses software..

• The U.S.  is likely to extend the April 15 tax deadline.
•  Airlines announced plans to reduce flights, and some executives are taking pay cuts. Europe is looking to allow airlines to keep airport slots without having to fly.
• A strategy meeting at Boston-area biotech Biogen late last month has emerged as a hotbed for novel coronavirus infections.
• Hospitals are looking to fast-track telemedicine projects.
• The open-floor plan in offices can be an efficient way to spread diseases.
• The Coachella Valley Music and Arts Festival has been postponed.  And, an official floats possibility of delaying the Olympics.  

To go to the gym or not? Sign up for a daily coronavirus briefing.

Funds

Shrug Capital launched its second fund with $15 million in commitments. Shrug II LP deployed more than $5 million last year across 30 companies, with three new term sheets signed last week.

People

Sequoia Capital said Luciana Lixandru will in September join the firm’s London office as the firm's first partner in Europe. She has spent the last eight years at Accel.

Cloudbeds, a San Diego-based developer of hospitality-management software, landed $82 million in Series C funding. Viking Global Investors led the round, and was joined by PeakSpan Capital, Recruit Co., Counterpart Ventures and Cultivation Capital.

Everlaw, an Oakland, Calif.-based electronic discovery and litigation service, completed a $62 million Series C. CapitalG and Menlo Ventures led the investment, which included participation from Andreessen Horowitz and K9 Ventures. Jesse Wedler, partner at CapitalG, will join the board.

Arctic Wolf Networks Inc., a Sunnyvale, Calif.-based cybersecurity provider, raised $60 million Series D led by Blue Cloud Ventures and Stereo Capital.

Zumper Inc., a San Francisco-based apartment-rental marketplace, closed $60 million Series D led by e.ventures.

NorthOne, a New York-based mobile-first banking platform serving small businesses, freelancers and startups, secured $21 million Series A. Battery Ventures led the round, with participation from investors including Redpoint Ventures. Shiran Shalev from Battery is joining the board.

RubiconMD Inc., a New York-based operator of a service that connects primary-care providers to specialists, picked up an $18 million Series C. Deerfield Management led the round, with Partner Julian Harris joining the board. Optum Ventures, HLM Venture Partners, Waterline Ventures and Heritage Provider Network also participated in the investment.

BackboneAI, a New York-based intercompany data automation platform, was seeded with a $4.7 million investment. Fika Ventures led the round, which included contributions from Boldstart Ventures, Cendana Capital, Dynamo Ventures, GGV Capital, MetaProp, Spider VC and others. Eva Ho, a general partner at Fika, will join the board.

Superwise.ai, a Tel Aviv-based startup that manages a company’s artificial intelligence models, netted $4.5 million in seed financing led by Capri Ventures and F2 Capital. 

Monograph Inc., a provider of project-management software for architects and engineers, secured $1.9 million in seed funding. Homebrew Ventures and Parade Ventures led, with investors including Designer Fund and Hustle VC also participating.

Sounder, a New York-based podcast-management and monetization platform, closed a $1.8 million seed round. Ulu Ventures led the investment, with participation from Newark Venture Partners, Xoogler.co and others.

• Fever-detecting goggles and disinfectant drones: countries turn to tech to fight coronavirus.
   

• Twitter CEO Dorsey faces pressure to grow despite Elliott truce.

• NFL, Take-Two are betting gamers want more football.   

• Yes, you CAN clean your iPhone with disinfecting wipes.

• The brave new world of betting on athletes’ data.

• Sharing your digital health data: new rules ease access.

• Why your privacy could be threatened by a bill to protect children. (CNet)
   
• Match Group first tech company to back anti-online child abuse bill. (Axios)
   
• Who is buying into IBM’s blockchain dreams? (Protocol)
   
• Robinhood maxed out credit line last month amid market tumult. (Bloomberg)
   
• Two people who attended cyber event RSA contract coronavirus. (Bloomberg)

We cover venture capital and the global startup ecosystem. WSJ Pro Venture Capital is a premium service of The Wall Street Journal. Share your tips, comments and questions: vcnews@wsj.com

The Team: Tomio Geron, Yuliya Chernova, Brian Gormley, and Marc Vartabedian.

Follow us on Twitter: @wsjvc, @tomiogeron, @ychernova, @BrianPGormley, @marcvarta.