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In today's Daily Pitch, you'll find: - An analysis of how tech like field sensors and crop drones is driving sustainable farming
- A look at why investors are raising climate tech funds at a rapid pace
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| Betting the farm on sustainable agtech | |  | | (SimonSkafar/Getty Images) | | | The agricultural industry is at the heart of a global sustainability push to find a way to feed billions of people while confronting climate change.
Our latest analyst note—the second in a series on ecological food supply systems—explores environmental threats to agriculture and the technology that has been developed to face them. Examples include: - To improve soil health, startups are developing lightweight machinery and analytics that promise more precise and automated farm work.
- Water reclamation systems and microbial treatments are being deployed to curb the impact of synthetic fertilizer, a major pollutant.
- Drought and water scarcity have helped drive investment in irrigation tools and indoor-farming startups.
| | | | | | | | | | Why investors are raising climate tech funds at a torrid pace | |  | | (Malte Mueller/Getty Images) | | | Climate tech has significantly evolved since the cleantech investment craze of the early 2000s.
Today, the investment landscape is powered by a broader base of investors using billions of dollars to tackle one overarching global threat: climate change. - So far in 2021, global investors have already closed as many climate-focused funds as were raised during the previous five years combined, according to PitchBook data.
- The new wave of climate-related deals has been bolstered by a confluence of recent trends including a staggering rise in extreme weather disasters, an international push for net-zero emission targets and new tech breakthroughs.
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| Global private equity performance series | | The fourth edition of Global Private Equity Performance Series is for the first time using the deal-level benchmarks in geographical performance analysis. Powered by data sourced directly from GPs and validated via the Insight platform, GPEPS now provides a detailed analysis of performance and deal activity across all regions and sectors at the portfolio company level. This edition of eFront's annual report on global and regional performance is organized around three complementary analyses: annual performance, investment-to-date performance and IRR analysis.
Download the paper | | | | | | | |
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| | With sights set on improving the lagging US healthcare system, here's how VC investors are riding the healthtech wave through the pandemic. [Bloomberg]
While students aren't receiving robot tutors in the mail quite yet, schools are turning to AI to keep students engaged and save educators' time. [The Wall Street Journal]
Nasdaq CEO Adena Friedman shares her thoughts on the SPAC revolution and a new generation of investors. [Fortune] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 13 Deals | 101 People | 29 Companies | 1 Funds | | | | | | |
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| 2009 Vintage European Funds-of-Funds | | | | | | |
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| | | | | | | | | Carputty drives off with $7M+ | | | Carputty has raised a $7.2 million seed round led by Kickstart Fund. The Atlanta-based company offers a car financing platform to help consumers access pre-approved loans without affecting their credit scores. | | | | | |
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| Clearlake takes Cornerstone private | | | Clearlake Capital has purchased Cornerstone OnDemand, a Santa Monica, Calif.-based provider of talent management software, for $5.2 billion. As part of the public-to-private agreement, Clearlake will pay $57.50 per share for the company, representing a 31% premium to Cornerstone's closing stock price June 1, the last day before the PE firm filed initial paperwork for the acquisition. | | | | | | | | Carlyle beefs up Vectura takeover to $1B+ | | | The Carlyle Group has raised its public-to-private takeover bid for UK inhaler maker Vectura Group to £958 million ($1.33 billion), according to reports. The bid would reportedly involve Carlyle paying 155 pence in cash per Vectura share, which would top Philip Morris International's bid of 150 pence per share. Carlyle first offered 136 pence per share for the company in May. | | | | | | | | Peak Rock buys Amtech Software | | | Peak Rock Capital has acquired Amtech Software, a Fort Washington, Pa.-based provider of enterprise resource planning software and technology services, The Wall Street Journal reported. The acquisition was reportedly made through Peak Rock's Capital Fund III, which closed at $2 billion in April. | | | | | | | | Mainsail backs Boostlingo | | | Mainsail Partners has made a growth equity investment in Boostlingo, a provider of language interpretation management software. Funds from the investment will go toward hiring new executives, investing in the company's software products, expanding internationally and more. | | | | | |
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| Meaningful Partners closes debut fund on $175M | | | Los Angeles-based Meaningful Partners has closed its debut Dedicated Capital Vehicle LP fund on $175 million, surpassing a hard cap of $150 million. The fund will focus on companies in the consumer sector. | | | | | | | | Stage 2 Capital launches $80M fund | | | New York-based Stage 2 Capital has raised $80 million for its second fund to invest in early-stage software startups. The new fund's LPs include executives from leading tech companies including Snowflake and Zoom. Stage 2 launched in 2018 and raised $15 million for its first fund. Its portfolio includes marketing tech startup Sendoso and small business platform Gosite. | | | | | |
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