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| Fintech takes aim at a $400B healthcare puzzle | |  | | (Rubberball/Nicole Hill/Getty Images) | | | Over the last two decades, the financial burden on patients has skyrocketed amid the rising costs of healthcare in the US and the growing prevalence of high-deductible medical plans.
Hospitals now rely on patients' out-of-pocket payments more than ever to keep their doors open—but these bills are proving hard to collect. - Fintech startups that allow patients to pay for healthcare in small increments seek to make bills more manageable for patients and increase providers' cash flows.
- The challenge for these companies is convincing the famously bureaucratic health systems to adopt new tech solutions.
| | | | | | | | | | How VCs are fueling wider adoption of AI | | The recent IPO of Chinese social media giant Kuaishou demonstrates that, for some emerging large companies, AI is their core product. Global VC funding supports this software architecture with rapidly increasing deal sizes across segments, including horizontal platforms, vertical applications, autonomous machines and semiconductors. End-user spending is also poised to escalate in 2021, given the improving performance of AI for language processing tasks.
Our latest installment of Emerging Tech Research includes updated market size estimates and spotlights on private companies, including Databricks, DataRobot and Samsara. The report also tracks major industry trends in AI and machine learning—covering developments in data preparation, computational biology and manufacturing. Takeaways include: - Driven by healthcare, autonomous vehicles and AI core software each receiving over $2 billion in invested capital, Q1's VC funding for AI set its second consecutive quarterly record, with more than $20 billion invested across 995 deals.
- Buoyed by consumer AI giant Kuaishou's $55.5 billion IPO valuation, VC exit flow broke out in China in Q1—resulting in a $74.1 billion exit value in Q1 alone, which exceeds 2020's total.
- Startups are seeing high valuation growth in the core, healthcare and industrial categories of AI.
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| Now you can digitize your end-to-end M&A deal workflow for free | | Ansarada's new Deal Workflow tool is free for advisors to use until the deal goes live, removing the risk for you.
As an advisor, you know work starts long before the deal does. Nondisclosure agreements, consent forms, structuring—the lead-up to the transaction requires high engagement between advisors and their clients. Managing these processes using emails or spreadsheets makes it hard to get visibility on progress and leads to unnecessary risk, inefficiency and error.
Ansarada has launched its Deal Workflow tool so advisors can maintain control and oversight over their deal processes from day one, collaborating with built-in project management tools including task assignment, checklists and reports to track progress across the full deal lifecycle.
Start using Deal Workflow for free here. | | | | | | | |
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| | Private equity's lack of women is about to become a costly problem for Sweden's EQT and the companies it backs. [Bloomberg]
A look at how some ex-journalists are using AI to detect online defamation. [Wired]
The US travel surge isn't coming. It's already here. [The Wall Street Journal] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 26 Deals | 160 People | 37 Companies | 1 Funds | | | | | | |
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| 2016 Vintage Global Real Estate Funds | | | | | | |
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| Have you had your impact investing practices and performance verified yet? | | Investors and regulators alike are demanding more transparency into impact investing practices and performance. From the Operating Principles for Impact Management ("Impact Principles") to the Sustainable Finance Disclosure Regulation (SFDR), a growing list of standards and regulations exists that investors are expected to comply with.
That's why BlueMark, a leading provider of impact verification services, developed a methodology for examining how investors of all types and sizes approach the "impact" in impact investing. By providing a third-party expert opinion on impact investors' alignment with industry standards, BlueMark is helping GPs gain credibility and earn investor trust.
Learn more about impact verification and best practices in impact management by visiting www.bluemarktideline.com. | | | | | | | |
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| Initialized Capital elevates Jennifer Wolf to president | | | | | | |
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| ComplyAdvantage secures $70M | | | | | | | | | Agtech startup TaniHub harvests new funding | | | TaniHub has raised a $65.5 million Series B led by MDI Ventures, TechCrunch reported. Founded in 2016, the Indonesian startup is the developer of an online agriculture marketplace intended to connect farmers directly with consumers. | | | | | | | | Found grabs $12M+ from Sequoia | | | Found, a bookkeeping platform for freelancers and the self-employed, has raised a $12.75 million seed round led by Sequoia, TechCrunch reported. The San Francisco-based startup's founders were previously executives at Square. | | | | | |
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| Thoma Bravo invests in PDFTron | | | Thoma Bravo has made a strategic growth investment in PDFTron, a Canada-based provider of document processing software. Existing investors Silversmith Capital Partners and the company's management team will retain stakes in the company. | | | | | | | | Morgan Stanley Capital Partners backs automotive parts supplier | | | | | | |
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| Snap to buy WaveOptics for $500M+ | | | Snap has agreed to acquire augmented reality specialist WaveOptics for more than $500 million, The Verge reported. WaveOptics made the display for Snap's recently revamped AR glasses. The UK-based company was last valued at $86.7 million in 2019, according to PitchBook data. | | | | | | | | Electra says it will take TGI Fridays UK public | | | | | | | | | Cinven to exit Chryso to Saint-Gobain | | | Cinven has agreed to sell Chryso, a manufacturer of specialty chemicals for the construction industry, to building materials group Saint-Gobain. Chryso has 35 industrial sites and five R&D centers worldwide, and it generates revenue from more than 100 countries. Cinven acquired the France-based company in 2017. | | | | | |
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| Alden gets shareholder OK for $633M Tribune takeover | | | Alden Global Capital has received shareholder approval to purchase Tribune Publishing for $633 million. The hedge fund had already held a 32% stake in the company, which owns a range of publications including the Chicago Tribune and New York Daily News. The deal follows a bidding war primarily between Alden and Newslight, which bid $680 million for the paper in April. That offer fell through after Swiss billionaire Hansjörg Wyss, a backer of Newslight, pulled out of the deal. | | | | | | | | Germany's Axel Springer circles Axios | | | German publishing giant Axel Springer has engaged in talks to acquire newsletter-focused digital media company Axios, according to reports. Axios reportedly hopes a sale would value the company at between $400 million and $450 million. Earlier, Axios engaged in talks with The Athletic about merging and going public through a SPAC. | | | | | |
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"The data reveals that first-time funds have a comparable level of downside risk to more-established vehicles. First-time funds have just over a 25% chance of achieving an IRR of less than 5%, which is marginally lower than second, third, and other funds. The bull case, however, does appear more promising, with first-time funds delivering IRRs of more than 25% most frequently—at 18.3% of the time."
Source: PitchBook's 2020 Annual US PE Middle Market Report | | | | | |
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