Deal Wrap is updated as of 3 p.m. ET.

– Blue Alliance, an operator-led managed services provider collective, completed a growth recapitalization transaction with private equity firm Prairie Management Co. LP.

– PayPal Ventures Inc. and StepStone Group LP led a $30 million series C funding round for generative conversational AI platform Rasa Technologies Inc.

– Network observability solutions provider cPacket Networks Inc. completed a $67 million transaction, including a primary and secondary equity investment by Morgan Stanley Private Equity and a debt refinancing by Trinity Capital Inc.

– Venture capital firm Equator led a $14 million series A equity funding round for electric mobility startup Roam.

– Perceptive Advisors LLC, Redmile Group LLC, Fred Alger Management LLC and Hobart Group Holdings LLC led a $136 million funding round for medical device company Impulse Dynamics PLC.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.