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| How emerging ESG standards put pressure on PE to adapt | |  | | (Joey Schaffer/PitchBook News) | | | Over the years, ESG standards have been set by an alphabet soup of industry groups. With the shift toward better reporting on sustainability, fund managers are being expected to prove their credentials with growing frequency. - As LPs increasingly prioritize responsible investment, many fund managers are finding that simply having an ESG policy is not enough if its impact on a portfolio is not demonstrable.
- Mergers, like that of the Sustainability Accounting Standards Board and the International Integrated Reporting Council, are helping consolidate efforts for consistent measurements.
- However, ethical investing is hard to quantify—meaning those who seek to establish a globally accepted standard likely have a long way to go.
| | | | | | | | | | Real estate tech is bouncing back from its pandemic slump | |  | | (erhui1979/Getty Images) | | | As pandemic-related shutdowns continue to be phased out, real estate tech is seeing renewed interest from venture capitalists. - Roughly six months into the year, deal activity in residential real estate tech had already reached an annual record of $6.2 billion.
- A severe housing shortage in the US and a large population reaching peak homebuying age are creating momentum for startups that help consumers buy and sell their homes.
- While the post-pandemic landscape of commercial real estate is full of unknowns, the explosion in online shopping has been a boon for technology related to logistics and warehousing.
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| A message from SS&C Intralinks | | |
| New report: How top M&A professionals are embracing ESG in the deal process | | The mandates are clear: ESG (environmental, social and governance) factors are now key criteria as to whether a deal gets greenlighted or gridlocked. However, if you're concerned that such governance diminishes asset value, you may be surprised. Boards are beginning to see the value of good stewardship.
Our new report delves into the drivers and impacts of this ESG trend, featuring insights from interviews with six seasoned M&A experts. The report explores: - Which companies are leading the ESG charge
- How ESG infiltrates M&A and accelerates deals
- The influence of millennials on ESG adoption
- How successful companies are building ESG into their M&A playbooks
- And more
Download this crucial new report to be sure your next deal makes the ESG grade. | | | | | | | |
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| | Abraaj Group founder Arif Naqvi attracted billionaires and governments to his funds, promising investments that would benefit society. But then the money vanished. [The Wall Street Journal]
Why Southeast Asia is too diverse for a one-size-fits-all digital transformation. [Fortune]
How America's heartland has gone from the backwater of the nation to the ultimate destination. [Forbes] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 458 Deals | 1624 People | 540 Companies | 16 Funds | | | | | | |
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| 2008 Vintage Global Debt Funds | | | | | | |
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| India's Cars24 eyes $2B valuation | | | Cars24, an Indian online marketplace for used cars, is getting ready to raise $200 million to $250 million from existing investors including DST Global, Bloomberg reported. The deal could reportedly close in several weeks and value Cars24 at between $1.6 billion and $2 billion. Cars24 raised a $200 million Series E in November, with reports at the time indicating a valuation of more than $1 billion. Demand for used cars in India has increased significantly as consumers try to avoid taking public transportation amid the pandemic, the Bloomberg report said. | | | | | | | | | | | | | | | | Physna has raised $56 million in funding led by Tiger Global, with participation from GV and Sequoia. The Ohio-based company is the developer of a 3D design platform intended to help procurement and engineering teams measure operational efficiencies. Physna was valued at $100 million in January, according to PitchBook data. | | | | | | | | Nigeria's FairMoney raises $42M Series B | | | | | | |
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| EQT, Goldman Sachs seal $8.5B pharma deal | | | | | | | | | CD&R to conduct $6B label-making merger | | | | | | | | | PE-backed Barracuda Networks strikes deal for Skout | | | Barracuda Networks, a provider of network cybersecurity products, has agreed to acquire Skout Cybersecurity. The Melville, N.Y.-based company is a provider of cybersecurity and extended detection and response software for managed service providers. Thoma Bravo has owned Barracuda since taking the company private for $1.6 billion in 2018. | | | | | |
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| Modern Times snaps up PlaySimple | | | Sweden's Modern Times Group has acquired word game developer PlaySimple. MTG paid 3.1 billion Swedish kronor (about $363 million) upfront, with an additional 1.3 billion kronor contingent on performance. PlaySimple has a portfolio of nine games, with an additional four to be launched this year, and plans to expand into digital card games. The Bengaluru-based company has raised funding from investors including Chiratae Ventures, Elevation Capital and Google for Startups (formerly Google Launchpad). | | | | | |
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| Eurazeo nears $1.4B close of third growth fund | | | Paris-based Eurazeo is preparing to close its third namesake growth fund on some €1.2 billion (around $1.4 billion), according to reports. The firm is expected to return to the market with its fourth growth fund in early 2022, The Wall Street Journal reported. | | | | | | | | Parkway Venture Capital on track to close $60M fund | | | New York-based Parkway Venture Capital has raised $50 million of a $60 million target for a fund that will invest in tech startups using artificial intelligence, complex engineering and data science to create simulations. The firm has backed furniture startup Burrow, fusion energy developer TAE Technologies and workplace safety company Siera.ai. | | | | | |
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"In Q1 2021 B2B M&A activity totaled 2,003 deals worth $185.6 billion, marking YoY decreases of 23.8% and 16.9%, respectively. The bulk of B2B M&A volume in the first quarter occurred in Europe, accounting for a 48.3% share, a decent rise from 41.2% in Q1 2020 and surpassing North America's share of M&A in this space."
Source: PitchBook's Q1 2021 Global M&A Report | | | | | |
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