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| Job market outlook for 2021: More hiring and more remote workers | |  | | (Julia Midkiff/PitchBook News) | | | It's been almost a year since many companies pivoted to a remote workforce. Now, they're preparing for a hiring spree that is expected to be a blend of remote and on-premises employees.
Of the more than 200 respondents to a new J.Thelander Consulting-PitchBook survey, almost 90% of private companies said they are hiring this year. As the labor market shifts along with changing attitudes about work from home, employers large and small are looking at a host of new recruitment tactics to compete for top talent. | | | | | | | | | | How startups are cultivating opportunities in indoor farming | |  | | (Jacobs Stock Photography Ltd./Getty Images) | | | The pandemic has exposed the shortcomings of the food supply chain, exacerbating existing problems of food waste and food insecurity. Indoor-farming startups are responding to the challenge, and investors have flocked to the field, more than doubling their annual investment total in 2020 to $929 million.
Also known as controlled environment agriculture, the method shortens supply chains and accelerates production cycles. Our latest analyst note details how such farms can reshape food systems and boost their resilience, and explores how cutting-edge technology is fueling rapid growth. | | | | | | | |
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| A message from InCloudCounsel | | |
| Are you spending valuable time reviewing NDAs? | | Companies today are outsourcing all types of business processes, from payroll and background checks to security and legal document review. But what happens when outsourcing relationships go wrong?
Private equity firms need high-quality work done fast and often on an international scale. PE firms should analyze service providers based on their industry focus, innovation, scalability, global reach and security.
If NDAs are slowing down your deal processes and you're looking for an outsourced solution, we have a new guide to help you properly assess B2B service providers.
Download the guide to get practical advice on how to evaluate B2B service providers and run an NDA vendor selection process that's organized, thoughtful and methodical. | | | | | | | |
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| PE-backed Trustly's $11B debut to join fintech IPO wave | | Nordic Capital-backed payments company Trustly is planning to go public this year, Reuters reported, riding a wave of investor interest in fintech as COVID-19 has driven more transactions online.
The IPO, which is expected to be in Stockholm, could value it at up to €9 billion (about $11 billion). Trustly, which allows customers to pay merchants directly from their bank accounts, is the latest in a string of fintech companies to have set its sights on the public markets.
Sky News reported last month that UK-based remittances provider TransferWise is preparing to hire banks for its upcoming IPO. Elsewhere, "buy now, pay later" company Affirm's shares nearly doubled in their first day of trading earlier this month, giving it a fully diluted value of around $31 billion.
Nordic Capital acquired Stockholm-based Trustly for a reported €700 million in 2018, combining it with US-based peer PayWithMyBank a year later. In June, a consortium of investors led by BlackRock acquired a minority stake. Nordic has hired Goldman Sachs, JP Morgan and Carnegie to work on the IPO with the aim of launching in Q2. | | | | | | | | | | After a 40-year career, Vicki Hollub became the most powerful woman in the US oil industry. Then, the $39 billion deal that was supposed to be her coronation turned into a nightmare. [Texas Monthly]
Australia wants Google to pay for the journalism that is integral to its search services. Google's latest response in the saga is a threat to go scorched earth. [The New York Times]
Amateur financial advisers on Reddit, TikTok and other social platforms continue to drive a market in which stocks seem to only go up. And the investment establishment isn't happy about it. [Vice] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 35 Deals | 245 People | 38 Companies | 1 Funds | | | | | | |
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| 2013 Vintage Global Secondaries Funds | | | | | | |
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| Halifax names new CFO, principal | | | The Halifax Group has promoted Thomas High to CFO and Davis Hostetter to principal. High has worked at Halifax since 2006, most recently as a controller; Hostetter has been at the firm since 2017, most recently as a vice president at the Washington, DC, office. | | | | | |
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| Imperfect Foods pulls in $95M | | | Imperfect Foods has raised a $95 million Series D co-led by Insight Partners and Norwest Venture Partners. The funding values the company at $700 million, according to a PitchBook estimate. Founded in 2015, Imperfect Foods is the developer a grocery delivery platform specializing in produce and other foods rejected by supermarkets. | | | | | | | | MotoRefi fuels up with $10M | | | MotoRefi has raised $10 million in a Series A1 round led by Moderne Ventures. The Arlington, Va.-based company is a provider of auto refinancing services. In February 2020, the company was valued at $33.6 million, according to PitchBook data. | | | | | |
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| CVC Capital eyes $1.9B pact with Shiseido | | | CVC Capital Partners has entered advanced talks to acquire the shampoo and skincare business of Japanese cosmetics company Shiseido for between 150 billion yen and 200 billion yen (about $1.5 billion to $1.9 billion), according to Bloomberg. Shiseido's stock jumped more than 4% Friday following the news. | | | | | | | | Partners Group to purchase Idera | | | Partners Group has agreed to acquire a majority stake in Idera, a Houston-based provider of B2B software productivity tools, from HGGC and TA Associates, which will continue to own a stake in the company. HGGC led a $1.13 billion recapitalization to take majority control of Idera in 2017, with TA Associates participating after originally acquiring the company three years earlier. Partners Group also invested in the company in 2019. | | | | | | | | CITIC Capital backs China's Reclassified | | | CITIC Capital has completed its acquisition of the parent company of Reclassified, a Shanghai-based seller of perfumes and other scented products. The deal marks the firm's eighth deal in the beauty and lifestyle space. | | | | | |
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| Chinese e-cigarette company soars in market debut | | | Shares of Chinese e-cigarette maker RLX Technology made their debut Friday on the NYSE, surging about 146%. The company raised $1.4 billion in its IPO, which priced at $12 per share, above the expected $8 to $10 range. RLX is backed by investors that include Sequoia China, IDG Capital and Cambium Grove Capital. | | | | | | | | | Electric vehicle charging company EVgo plans to go public through a reverse merger with Climate Change Crisis Real Impact I, a blank-check company. The combined business will be valued at $2.6 billion in the deal, which is expected to provide EVgo with $575 million to fund an expansion of its fast-charging network. Los Angeles-based EVgo was acquired by PE firm LS Power last year. | | | | | | | | Boston Scientific could pay $1B+ for Preventice | | | Boston Scientific has agreed to acquire Preventice Solutions, a provider of mobile heart monitors and related services. The deal includes a $925 million cash payment and the possibility of $300 million more if certain milestones are met. Before the deal, Boston Scientific held a 22% stake in Houston-based Preventice, which has also received backing from Arthur Ventures, Telescope Partners and Merck. | | | | | | | | One Equity-backed SPAC raises $300M | | | | | | |
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| Crosslink grabs $350M for latest fund | | | Crosslink Capital has closed its ninth flagship fund on $350 million. The firm plans to continue to invest in early-stage technology companies. Crosslink's portfolio includes Chime, Molekule and Weave. | | | | | | | | RCP brings in $195M+ for first private equity fund | | | Rotunda Capital Partners has closed its debut institutional private equity fund on more than $195 million, exceeding a $175 million target. The Maryland-based firm invests in lower-middle-market companies in the distribution, logistics, industrial and business services sectors. | | | | | |
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