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| From WFH to WF?: Data startups tackle office uncertainty | |  | | (Luis Alvarez/Getty Images) | | | As office workers tiptoe back to their desks, they're likely to encounter a new suite of software and sensors that will become a staple of the post-COVID workplace. - Employers are ripping up the real estate playbook, but they'll need buckets of data to manage a flexible office, investors say.
- The transition has given lift to space reservation systems, sensors that track people anonymously and an array of health tools.
- Real estate tech startups are up for the challenge, following record VC investment and a year of carefully calibrated preparations.
| | | | | | | | | | Specialists on the rise in PE | | Private equity is increasingly a game for specialist fund managers. In our latest research note on manager style, PitchBook analysts break down the evolution of the specialized GP. Highlights include: - The overarching trend in PE is for managers to specialize and focus on certain sectors, with the proportion of specialist firms in the US up 50% over the past decade.
- Established firms have tended toward specialization, a trend that is here to stay.
- In recent years, nearly half of all newly formed managers were specialists—more than twice the rate from one decade ago.
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| | Sports betting is legal in nearly half of US states. But recovery experts fear the risk of addiction is not being adequately addressed. [The New York Times]
Clubhouse's social media app has been downloaded 12 million times since its 2020 debut. And its competitors are racing to create copycats. [Fortune]
There is strong evidence that creative insights are more likely to occur when the mind is encouraged to wander freely. [BBC] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 13 Deals | 79 People | 15 Companies | | | | | | |
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| 2017 Vintage Global Venture Funds with less than $250M | | | | | | |
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| Thrasio brings on former JCPenney exec as CFO, adds to Series C | | | Bill Wafford has joined Thrasio as the Massachusetts-based consumer goods company's new CFO. Wafford was most recently CFO at JCPenney and has previously held senior roles at Walgreens and KPMG. Thrasio, which is an acquirer of Amazon third-party brands, has also added $100 million to its Series C round. The company raised $260 million at a $1.26 billion valuation in July, according to PitchBook data. | | | | | | | | BlackRock chief saw salary grow 18% in 2020 | | | BlackRock CEO Larry Fink raked in an 18% raise for 2020, earning a total compensation of $29.85 million, The Wall Street Journal reported. Fink's base salary sits at $1.5 million, but total earnings were inflated by a $9.5 million cash award and $18.85 million in stock, the report said. His raise comes in a year that saw the firm's assets under management climb by $391 billion. BlackRock now commands an AUM figure of $9 trillion, according to PitchBook data. | | | | | |
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| Next Insurance secures $4B valuation with latest funding | | | Next Insurance, a provider of insurance products for small businesses, has increased its valuation to $4 billion after closing a $250 million round led by FinTLV Ventures and Battery Ventures. CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared also participated in the financing. This round brings the insurtech startup's total private backing to more than $880 million. Next Insurance was valued at over $2.2 billion after raising a $250 million round in September, according to PitchBook data. | | | | | | | | | | | | | | | Holler books $36M Series B | | | | | | | | | Aclaimant picks up $15M Series B | | | Aclaimant has raised $15 million in debt and equity funding led by Next Coast Ventures. The Chicago-based company is the developer of a risk management platform intended to process claims and automate safety workflows. | | | | | |
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| Sentinel Capital backs TranSystems | | | Sentinel Capital Partners has recapitalized TranSystems, a Kansas City, Mo.-based provider of engineering, architectural and design consulting services for the US transportation industry. Sentinel typically invests in lower-middle-market companies in a range of industries including aerospace and defense, business services and healthcare. | | | | | | | | KPS circling Crown's cans unit for $2B+ | | | KPS Capital Partners has entered advanced negotiations to purchase the cans division from Philadelphia-based Crown Holdings for more than $2 billion, Bloomberg reported. Sonoco Products and other private equity firms also reportedly participated in the auction. | | | | | | | | Friday Health lands $160M in multiple deals | | | | | | | | | Falfurrias backs Carolina Foods | | | | | | | | | Arctos strikes minority deal for Golden State Warriors | | | Arctos Sports Partners has agreed to acquire a 5% stake in the NBA's Golden State Warriors in a deal that values the team at roughly $5.5 billion, according to Sportico. Based in Dallas, Arctos has been raising a fund designed to purchase passive stakes in professional sports teams. This marks the first deal in which a PE firm agreed to invest in the NBA since the league loosened its ownership rules last year. | | | | | |
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