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| Avid Ventures and LPs bet on new strategy with firm's $68M debut fund | |  | Addie Lerner, founder and managing partner of Avid Ventures
(Avid Ventures) | | | Addie Lerner, a former principal at General Catalyst, has launched the first fund for her venture capital firm, Avid Ventures. - The $68 million vehicle plans to make Series A and Series B investments in tech companies across North America, Europe and Israel. It has already backed fintech startups such as Nova Credit and Alloy.
- Avid's fund strategy does not include strict ownership or size requirements for its investments. The idea is to initially write small checks alongside lead investors.
- In 2020, only 50 debut funds closed—a seven-year low, according to PitchBook data.
| | | | | | | | | | The most active investors of 2020 | | In a year like no other, which firms made the most deals?
PitchBook's Global League Tables for 2020 are now available, spanning the full spectrum of private financial markets. - We rank everything from the most active law firms in the venture universe to the most active PE investors in Europe.
- In addition, we've added several new breakouts of activity, ranking the most active VCs in China as well as introducing European sub-regions across the board.
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| A message from SS&C Intralinks | | |
| The climate target plan: Investment opportunities from raising 2030 decarbonisation goals | | The impact of climate change continues to be debated, but one thing is unquestionably rising: the regulatory ceiling on emissions. The European Commission has proposed increasing the EU's 2030 target for greenhouse gases' emission reduction from 40% to at least 55%. And the European Parliament approved an even higher target of 60%. Is there an upside for investors?
Download our new special report that outlines predictions and paths for investments—both in greenfield and brownfield assets—generated by the climate target plan.
Climate-driven opportunities are heating up. Download this report now.
Intralinks INsights.
CLEAR ADVANTAGE. | | | | | | | |
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| Uber's UK ruling could have implications for gig economy startups | |  | | Former Uber drivers Yaseen Aslam and James Farrar first brought the case against Uber in 2016. (Carl Court/Getty Images) | | | The UK Supreme Court has rejected Uber's appeal against an earlier ruling that said its drivers must be classified as workers and not as self-employed—a decision that may significantly affect the gig economy. - The decision, which cannot be appealed, means thousands of drivers would be entitled to both minimum wage and paid time off, and the ridehailing giant could face paying substantial compensation.
- The ruling, which criticized Uber for sidestepping UK labor laws, could disrupt startup business models that rely on gig workers to rapidly scale.
| | | | | | | | | | Allbirds quickly won converts in Silicon Valley with its environmentally friendly approach to comfy footwear. With an IPO on the horizon, can the company keep the momentum going? [Bloomberg]
Last week, baseball star Fernando Tatis Jr. signed a new 14-year, $340 million contract. Few people were happier than the investors in an unusual fund called Big League Advance. [The Wall Street Journal]
The first time Lim Ji-hyun disappeared, it was in pursuit of a better life. The second time? It's still a mystery. [Marie Claire] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 40 Deals | 248 People | 69 Companies | | | | | | |
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| 2007 Vintage Global PE Funds | | | | | | |
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| Vista's flagship fund adds Thomas Hogan | | | Thomas Hogan has joined Vista Equity Partners' flagship fund as an operating managing director. Hogan has spent nearly four decades in the technology industry, and he was recently the CEO of Kony, a digital banking SaaS company acquired by Temenos. In Vista's flagship fund, Hogan will work with the firm's portfolio companies, which are in the software, data and technology-enabled sectors. | | | | | | | | Former Belden CEO joins CD&R as adviser | | | John Stroup has been named an operating fund adviser at Clayton, Dubilier & Rice. Stroup recently decided to retire as executive chairman from Belden. Before that, he spent nearly 15 years as the manufacturing company's CEO. | | | | | |
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| Chinese grocery app maker raises $2B | | | | | | | | | Abound lands $22.9M Series A | | | | | | |
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| Francisco Partners backs Nearpod add-on | | | | | | | | | Carlyle nixes Signature Aviation bid | | | | | | | | | New Heritage stakes FMS Solutions | | | | | | | | | 3i to devote $120M to WilsonHCG | | | | | | |
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| Coinbase valued at $100B+ in secondary share sale | | | Coinbase has been valued at over $100 billion in a recent secondary share sale, Axios reported. Last month, the cryptocurrency exchange operator reportedly launched the secondary sale for up to 1.8 million shares via Nasdaq Private Markets. The latest 127,000 share sale on Friday valued the company at $100.23 billion, the report said. Coinbase was valued at $8 billion in its last private round of financing in 2018, according to PitchBook data. It also recently announced it was pursuing a direct listing. | | | | | | | | Fintech startup Brex wants to start a bank in Utah | | | Fintech startup Brex has filed to create a bank based in Draper, Utah. The company, which provides business credit cards to technology startups, has hired Silicon Valley Bank veteran Bruce Wallace to be Brex Bank's potential CEO. Brex raised $150 million last May in a round led by DST Global, valuing the company at $2.75 billion, according to PitchBook data. | | | | | |
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| Bain Capital plans Autodis IPO | | | Bain Capital has brought on a trio of banks to take Autodis public in a deal that could value the French auto parts maker at over €1.5 billion (about $1.8 billion), according to Reuters. Bain Capital has owned Autodis since acquiring it from Investcorp and TowerBrook Capital Partners in 2015. | | | | | | | | Nordic's Cint valued at $1B+ after Swedish IPO | | | Shares in Cint, a provider of survey research analytics, jumped almost 30% in a debut on the Nasdaq Stockholm on Friday, pushing the company's market cap to over €1 billion (about $1.2 billion). Nordic Capital has backed Cint since 2016. | | | | | |
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| IBM eyes sale of Watson Health unit | | | IBM has been considering a sale of its Watson Health business, The Wall Street Journal reported. Options for the unit are said to include a deal with a private equity firm or a merger with a SPAC. Watson Health generates about $1 billion in annual revenue but is not currently profitable, the report said. | | | | | |
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