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| Bonus payouts: Another sign of VC, PE firms' bounty in 2020 | |  | | (Nuthawut Somsuk/Getty Images) | | | The venture capital industry delivered robust results in 2020, contrary to dark expectations during the pandemic's chaotic early phase.
Many VC firms paid out bonuses in addition to keeping pay packages steady and increasing salaries in an otherwise tumultuous year—an indication of the stiff competition for retaining talent. - According to the J.Thelander-PitchBook survey, there was little to no change in the median bonus figures paid to associates and analysts at venture capital and private equity firms last year.
- Jody Thelander, founder and CEO of the namesake consulting firm, said that venture firm positions continue to be in high demand and recruiting is as competitive as ever.
| | | | | | | | | | Bolt, Vinted and beyond: Baltic unicorns set stage for long-term VC success | |  | | Estonia's capital, Tallinn (Maremagnum/Getty Images) | | | Although the Baltic nations may not yet possess the financial clout of other VC powerhouse countries, record deal-value figures in the last two years may be a sign that VC is growing as a strategy in Estonia, Latvia and Lithuania.
Our latest analyst note offers a high-level perspective on recent factors influencing startup opportunities in the Baltic region, including low cost of living and ease of access to the European Union for international investors and founders. Key takeaways include: - Through the first five months of 2021, deal value in the region surpassed the annual record from 2020 and sits at €431.9 million.
- We expect capital inflow to the nations to increase in the near term as the region continues to develop unicorns such as Bolt and Vinted.
- An abundance of digital and physical infrastructure, collaborative co-working spaces, accelerators, incubators and angel networks have helped market the region and lure VC operators and investors.
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| A message from RBC Capital Markets | | |
| What's driving growth in fintech and payments? | | Valuations across the entirety of the tech sector are up, and the B2B industry has been the most resilient to change. Although transacting between enterprises is surprisingly archaic, as problems are solved, new opportunities will be uncovered that will create further and faster innovation.
Financial services are now digitally consumed and digitally delivered products. As a result, there is a strong basis for growth to accelerate while payments continue to be an area ripe for consolidation and extensive M&A activity.
Get the latest insights on what drives growth in fintech and whether we can expect the pace of change to slow as the influence of the COVID-19 pandemic lifts. | | | | | | | |
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| SentinelOne raises $1.2B+ in record-breaking IPO | | SentinelOne was valued at more than $10 billion on a fully diluted basis after raising more than $1.2 billion in its initial public offering, which priced above the expected range at $35 per share. - The IPO was the largest by exit value for any US VC-backed cybersecurity company, surpassing rival CrowdStrike's $6 billion IPO value in 2019, according to PitchBook data. SentinelOne was valued at more than $3 billion in a private funding round late last year.
- Insight Partners holds a stake worth $1.2 billion, amounting to 13.59% of shares outstanding. Other leading private investors include Tiger Global (11%), Daniel Loeb's Third Point Ventures (9.72%) and Redpoint Ventures (6.89%).
- SentinelOne's year-over-year revenue roughly doubled to $93 million in the fiscal year ended Jan. 31, with a net loss of about $118 million for the period. The company's platform automates the early response to a security breach.
Related read: Cybersecurity startups near record funding as hacks take spotlight | | | | | | | | | | How evergreen funds are changing the way allocators invest. [Institutional Investor]
Going to medical school in the Caribbean is expensive, despite lax admissions standards. And graduates of these institutions often have trouble landing residencies or jobs. [The New York Times]
Foursquare's business had always depended on people going places, but then the pandemic hit. In a recent interview, CEO Gary Little explains how the virus made the company's tech even more essential. [Protocol] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 504 Deals | 1723 People | 555 Companies | 22 Funds | | | | | | |
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| 2017 Vintage Global Funds-of-Funds | | | | | | |
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| A message from Janover Inc. | | |
| Why fintechs are raising capital to simplify real estate and small business loans | | Historically, multifamily, commercial real estate and small business financing has been a black box. With the advent of new technology and the help of investor capital, this multitrillion-dollar ecosystem is finally being disintermediated.
One fintech startup has built an "intelligent loan portal" to help make the connection between borrowers and lenders frictionless. It's now a simple process for a borrower to get the right loan package in front of the right lender without hundreds of conversations, which drives decision-making with data instead of preexisting relationships. The result is a transaction that's easy for lenders and borrowers—a real win-win. Learn more about the future of commercial property and business financing and how you can become a stakeholder in a fintech that's disrupting this industry.
Click here to learn more
*See disclaimer | | | | | | | |
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| Crosspoint Capital adds Samir Kapuria | | | Menlo Park, Calif.-based private equity firm Crosspoint Capital Partners has hired Samir Kapuria as a managing director. Crosspoint Capital invests in the cybersecurity, privacy and infrastructure software markets. Kapuria was previously the president of consumer cyber safety company NortonLifeLock. | | | | | |
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| | | | | | | | | | | | | | | | Cortica banks $60M Series C | | | Cortica has raised a $60 million Series C led by Longitude Capital. Based in the San Diego area, the company is a provider of neurological therapies for children with autism and other neurodevelopmental conditions. | | | | | | | | Zencity picks up $30M for community feedback tool | | | | | | | | | Augtera emerges from stealth with $13M Series A | | | | | | |
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| Goldman Sachs backs 4G Clinical | | | | | | | | | Ares Management stakes Atletico Madrid | | | Ares Management has agreed to acquire an approximately 34% stake in Spanish soccer club Atletico Madrid for €181.8 million (about $216 million), SportsPro Media reported. Atletico's debt load jumped to €999 million due to revenue lost during the pandemic, the report said. As part of the deal, Atletico's holding company will contribute €120 million to the club, increasing its ownership stake to roughly 66%. | | | | | | | | TSG to purchase Rough Country in SBO | | | | | | |
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| Bridgepoint eyes $415M UK IPO | | | Bridgepoint has filed to raise around £300 million (about $415 million) in an IPO on the London Stock Exchange that would value the UK-based buyout firm at about £2 billion, according to reports. Bridgepoint invests in middle-market companies in Europe through equity and debt transactions. Dyal Capital Partners, which recently merged with Owl Rock Capital to form Blue Owl Capital, made a minority investment in the firm in 2018. | | | | | | | | Didi Global raises $4.4 billion in IPO | | | Chinese ride-hailing leader Didi Global raised around $4.4 billion in its public offering for an initial market cap of at least $67 billion, The Wall Street Journal reported. Softbank owned a 20.2% post-IPO stake and Uber owned 12%. Didi was reportedly valued at $62 billion last year. | | | | | |
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| Accel raises $3B+ across three funds | | | Accel has closed three funds totaling more than $3 billion. The vehicles include the VC firm's 15th early-stage US fund at $650 million, seventh early-stage Europe- and Israel-focused fund at $650 million and sixth global growth-stage fund at $1.75 billion. Accel expects to invest in about 20 to 30 companies per fund, TechCrunch reported. | | | | | |
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