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In today's Daily Pitch, you'll find: - The latest edition of PitchBook Benchmarks, with complete data through Q1 2021.
- Even though researchers can see patients in person, investors are still betting on virtual clinical trial tech.
- Coatue is said to be expanding its footprint in Europe with a new office location.
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| PitchBook Benchmarks for PE, VC and more | |  | | (Sean Gladwell/Getty Images) | | | The US private markets have surged over the past decade as investors pour increasing amounts of capital into alternative assets. Fund strategies have expanded in kind, yet the private markets remain largely opaque, and without uniform reporting standards, it is challenging for pensions and endowments to find true transparency.
PitchBook Benchmarks provide a one-stop destination that tracks aggregate investor performance across a range of strategies by measuring cash multiples, IRR and other metrics. The latest edition, featuring data through Q1 2021, is now available. It features preliminary data for the past several quarters, visualizations, and PDFs that slice the data by fund type and geography. | | | | | | | | | | Virtual clinical trials continue to attract investor interest | |  | | (someone25/Getty Images) | | | | Remote clinical trials were a necessity during the pandemic, but even now venture capitalist interest in companies offering these decentralized options doesn't appear to be waning. A number of companies in the field have raised recent funding from notable investors. | | | | | | | |
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| Coatue set to deepen European presence with new office | |  | | (Richard Drury/Getty Images) | | | Prolific tech investor Coatue is looking to expand its European presence by opening its first office in the region, according to reports.
A potential new entry into the European market reflects the increasing interest of US investors in the continent's flourishing VC ecosystem. | | | | | | | | | | Why the number of private equity deals for wineries, vineyards and distributors has skyrocketed in 2021. [The Wall Street Journal]
Asset managers are having a difficult time recruiting and retaining talent. Is a resistance to change to blame? [Institutional Investor]
A wild search to uncover how much of stablecoin Tether's supposed $69 billion in assets actually exists. [Bloomberg] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 448 Deals | 1925 People | 464 Companies | 25 Funds | | | | | | |
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| 2013 Vintage North American Debt Funds | | | | | | |
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| How private equity is raising the bar for your business | | Today, more companies than ever are backed by private equity—a trend that is likely to accelerate as investment demand continues to rise.
The access to capital, top-tier talent and strategic partnerships that PE-backed firms enjoy has raised the bar across industries. This has significant implications for all middle-market companies that want to remain competitive.
Replicate the benefits of PE partnerships to maintain your edge in this increasingly competitive marketplace. | | | | | | | |
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| KKR names Snapchat CEO Evan Spiegel to board of directors | | | KKR has appointed social media platform Snapchat's CEO Evan Spiegel to its board of directors as an independent director. Spiegel co-founded Snapchat, which currently carries a market capitalization of around $120 billion, in 2011. | | | | | |
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| Rebel Foods hits $1.4B valuation | | | Rebel Foods has raised $175 million at a $1.4 billion valuation in a round led by Qatar Investment Authority, TechCrunch reported. The Mumbai-based company is the operator of a network of cloud kitchens that prepare food exclusively for delivery across 40 cities. | | | | | | | | Fintech startup Till Payments raises $80M | | | Till Payments has raised A$110 million (around $80.4 million) in Series C financing from investors including Akuna Capital and Avenir Growth Capital. The Australian startup is the developer of a payments platform used in more than 500 cities across the world. | | | | | | | | Third Point leads $40M round for Kentik | | | San Francisco-based Kentik has raised a $40 million Series C led by Third Point Ventures. The company is a developer of network management software designed to help companies such as Zoom and Dropbox detect and prevent performance issues. | | | | | | | | BrightHire picks up $20.5M | | | BrightHire has raised a $20.5 million Series B led by 01 Advisors. The New York-based startup is the developer of an interview intelligence platform designed to help companies improve and manage the hiring process. BrightHire was valued at $77.5 million in May, according to PitchBook data. | | | | | | | | Toch.ai secures new funding | | | Toch.ai has raised $11.75 million in Series A financing led by Moneta Ventures. The Mumbai-based company is the developer of a video processing platform that automatically creates subtitles, highlight clips, overlays and more. | | | | | |
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| Saudi Arabia's wealth fund lands Newcastle United club for $409M+ | | | | | | | | | EQT to sell VFS Global to Blackstone | | | EQT has agreed to sell a majority stake in outsourcing services company VFS Global to Blackstone. The Swedish PE firm will retain a minority stake in the company, which has offices in Zurich and Dubai. EQT acquired Kuoni Group in 2016, and VFS Global was divested the following year. | | | | | | | | PE group circles Germany's Aareal Bank | | | | | | | | | Ara Partners lands industrial gas equipment maker | | | Ara Partners has acquired Fluitron, a manufacturer of industrial gas compression and dispensing equipment. Founded in 1976 and based in Pennsylvania, the company has customers worldwide. | | | | | | | | PE-backed Wellbeam Consumer Health buys skincare brand TruSkin | | | | | | |
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| Life Time Group raises $702M in IPO | | | | | | | | | MDP-backed Australian recruiter seeks $730M in IPO | | | | | | |
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| Everberg Capital eyes $350M for Fund II | | | Everberg Capital is targeting $350 million for its second fund focused on mid-market companies, Buyouts Insider reported. | | | | | |
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| Private equity, nonprofit group forms ESG reporting platform Novata | | | | | | |
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"Another interesting development in the region is the Netherlands' growing deal volume over the past decade. Reviewing absolute numbers, in 2011 the Netherlands closed 180 deals, while that number jumped nearly two times in 2020. Conversely, when looking at the same period for France, deal volume declined. Further, on a proportionate basis, the Netherlands is also eating France's market share."
Source: PitchBook's 2021 France & Benelux Private Capital Breakdown | | | | | |
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