| |
| |
| Analyzing a record year for information security, fallout from the SolarWinds hack | | Information security venture funding set a record in 2020, with $9.9 billion invested in the sector—a 16% increase in deal value year-over-year, despite a decline in deal count. Largely insulated from the pandemic, the market grew steadily last year and is projected to reach nearly $207 billion by 2024.
Our Q4 installment of Emerging Tech Research on infosec includes a deep dive into the implications of the SolarWinds cyberattack. The report also tracks major industry trends, covering developments in DevOps, fraud prevention and more. Key takeaways include: - Late-stage VC deals outnumbered both early-stage and angel & seed activity for the first time since 2010
- VC exit value topped $18 billion despite a slowdown in exits year-over-year, including no IPOs in Q4
- Application security, although a newer category of infosec, is essential to long-term cyber defense
| | | | | | | | | | Roblox debut on NYSE will have to wait | |  | | Roblox, led by CEO David Baszucki, recently saw its valuation skyrocket to $29.5 billion. (Ian Tuttle/Getty Images) | | | Already this year, a host of companies have announced planned IPOs or mergers with blank-check vehicles. But Roblox's planned direct listing has been put on ice for a while longer.
The gaming platform developer's direct listing has been delayed once again. This time, the SEC is investigating how the company recognizes revenue, according to a Reuters report. The postponement marks yet another setback for Roblox and its much-anticipated public debut. | | | | | | | |
|
| A message from Corporate Resolutions | | |
| The Amazing Race (to close a deal) | | By Joelle Scott, COO, Corporate Resolutions
The end of 2020 brought optimism and excitement for investors as they sought to close as many deals as possible before Dec. 31. In this supermarket sweep of deals, investors and transaction service providers worked tirelessly to expedite aspects of due diligence to ensure a successful close.
However, evaluating the integrity of a management team on a condensed timeline is a tall order. Technology helps gather information, but it is an inadequate solution when seeking a comprehensive assessment. Human analysis cannot be abbreviated, or accuracy will be compromised. Investors should seek certification from an expert that a thorough background investigation was conducted, and all red flags were addressed.
Thankfully, deal volume remains robust. With time on your side, remember that the race toward a closing date is only won with exhaustive due diligence to protect your capital and reputation.
| | | | | | | |
|
| KKR targets $15B for next North America buyout fund | | KKR plans to raise $15 billion or more for its 13th private equity fund focused on North America, according to Reuters, in what would mark the second-largest vehicle in the firm's history. The fund would surpass a predecessor that closed on $13.9 billion in 2017 but trail a 2006 fund that brought in a firm-record $17.6 billion. That latter vehicle finished in the top quartile of its benchmark, according to PitchBook data.
KKR has had an active start to 2021. Earlier this month, it agreed to sell semiconductor maker Kokusai Electric to Applied Materials for $3.5 billion. The firm also agreed to acquire a majority stake in the music catalog of OneRepublic and lead singer Ryan Tedder for a reported price of almost $200 million. And Bloomberg reported that KKR is considering a bid to acquire a stake in Saudi Aramco's oil pipelines business in a deal that could be worth around $10 billion.
Related read: Mega-deals underscore PE's growing embrace of VC deals in tech | | | | | | | | | | Olfactory researchers like Danielle Reed have always felt like humans overlook their sense of smell. Until COVID-19 arrived, and it started to disappear. [The New York Times]
As a gift for his bar mitzvah in 2002, Jeff Feldman received the gift of a few shares of GameStop stock. Until last week, he'd been holding them ever since. [BNet]
You could do a lot with $1 trillion. Could you cure the world of disease? [The Guardian] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 84 Deals | 279 People | 72 Companies | 4 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| |
|
| |
| PitchBook Webinar: How did US VC fare through 2020? | | Though faced with early challenges, the US venture industry has proved robust through the end of the year, as activity finished strong from a high-level perspective. 2020 set new records in total deal value, exit value and capital raised by VC funds.
Join PitchBook and NVCA on Feb. 3 for a panel discussion on VC through Q4 2020 and how the market environment is shaping up for 2021. Featuring industry experts from Velocity Global, Silicon Valley Bank, NVCA and PitchBook, the webinar will cover top trends highlighted in the Q4 2020 PitchBook-NVCA Venture Monitor, including the latest in fundraising, deal flow and exit activity.
Register today | | | | | | | |
|
| |
| Gridiron elevates Nick Weido to VP | | | Gridiron Capital has promoted Nick Weido to vice president. He will focus on new investments and due diligence while continuing to serve on the board of Gridiron portfolio company Cubii, among other duties. Weido joined Gridiron in 2019 as a senior associate after working at Genstar Capital. | | | | | |
|
| |
| Sequoia leads $20M round in Physna | | | Physna, the developer of a 3D design platform, has raised $20 million in a Series B led by Sequoia, with participation from Drive Capital. The company was valued at $27.9 million in 2019, according to PitchBook data. Sequoia partner Shaun Maguire will join the company's board. | | | | | | | | | Verusen has raised an $8 million Series A co-led by Forte Ventures and Flyover Capital. The Atlanta-based company is the developer of a supply chain intelligence platform designed to track inventory and offer data analytics. | | | | | |
|
| |
| L Catterton joins auction to buy Birkenstock | | | L Catterton has begun conducting due diligence for a possible bid to acquire German sandal maker Birkenstock in a deal that could value the company at some $5 billion, Bloomberg reported. The move comes after CVC Capital Partners expressed interest in buying Birkenstock, with Permira also a rumored suitor. | | | | | | | | Platinum makes offer for UK pub group Marston's | | | Platinum Equity has made an unsolicited bid to acquire UK-listed pub operator Marston's. The company said in a statement it would review the non-binding offer. Its shares closed up 10% Friday after news of the bid broke, giving Marston's a market cap of around £521.8 million (about $716 million). | | | | | | | | Vista Equity's Social Solutions to purchase Athena Software | | | | | | | | | HIG to devote $225M to eHealth | | | HIG Capital has agreed to make a $225 million investment in eHealth by purchasing convertible preferred stock. The company operates an online health insurance marketplace for carriers throughout the US. HIG managing director Aaron Tolson will join eHealth's board of directors upon the deal's closing. | | | | | |
|
| |
| Coinbase opts for direct listing | | | Cryptocurrency exchange operator Coinbase has announced plans to pursue a direct listing. In December, the company filed confidentially with the SEC for an IPO. Backed by investors including Andreessen Horowitz, Tiger Global and Greylock Partners, Coinbase was valued at over $8 billion in 2018, according to PitchBook data. | | | | | | | | Permira-backed Dr. Martens targets $5.1B in UK IPO | | | Dr. Martens, the British shoe brand backed by Permira, has priced its shares at 370 pence apiece, the top end of its range, in an IPO that valued the company at £3.7 billion (nearly $5.1 billion). Shares were up 16% in conditional trading among existing investors, with full market trading beginning Wednesday. The Griggs family sold Dr. Martens to Permira in 2013 for £300 million. | | | | | | | | Jessica Alba's Honest Co. gears up for IPO | | | The Honest Company, the baby and personal care products company co-founded by actress Jessica Alba, has privately filed with the SEC for an IPO, Bloomberg reported. The company may seek a value of some $2 billion in the offering, the report said. Backed by investors such as L Catterton, General Catalyst and IVP, Honest had reportedly sought a sale for $1 billion last year. | | | | | | | | MoneyLion weighs public listing through SPAC | | | MoneyLion, which offers a mobile financial platform, has considered going public through a merger with a blank-check company, Bloomberg reported. The potential deal could reportedly value the combined company at more than $2 billion. MoneyLion has raised funding from investors such as Capital One Ventures, Edison Partners and Greenspring Associates. It was valued at $675 million last March, according to PitchBook data. | | | | | |
|
| |
| |
|
No comments:
Post a Comment