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In today's Daily Pitch, you'll find: - Our latest Emerging Tech Research report highlights VC activity and opportunities in the global mobility space.
- A look at the managers and holdings behind the top university endowments in the US.
- A campaign to transform the global economy to meet decarbonization goals has amassed more than $130 trillion in private capital commitments.
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| Mobility startups shatter venture funding records through Q3 | | Demand for low-cost, convenient and environmentally oriented tech solutions has continued to drive robust investment into the mobility industry. In the first three quarters of 2021, venture investors have poured a staggering $74.5 billion into global mobility tech startups—more than the total amount raised in any prior year.
Our latest Emerging Tech Research report highlights recent VC activity, exits and investing opportunities in the space, including advanced air mobility startups, sustainable EV supply chains and the electric future of taxis. | | | | | | | | | | Meet the managers and holdings behind top university endowments | |  | | (Maddie Meyer/Getty Images) | | | Venture capital and private equity have driven blockbuster returns at university endowments in the 2021 fiscal year. But buried in that news are a few surprises. - The top performers weren't the storied names that typically make headlines. Instead, Washington University in St. Louis and Bowdoin College topped the list.
- A glimpse into the holdings of these often secretive LPs reveals that the flood of tech IPOs has left endowments with large, liquid holdings in newly public companies.
- David Swensen, the late Yale investment chief, was a mentor to two of the managers of the top five funds.
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| Denver's historic year of venture activity | | Across 193 completed financings, a record sum of $2 billion has been invested within the Denver startup ecosystem already this year. Bridge Bank's latest venture ecosystem review summarizes key investment trends in the Denver metro area, with highlights and analysis including: - How the gradual evolution of the Denver ecosystem over the past three decades has culminated in record growth.
- The growing role of outside investors.
- A promising upswing of fundraising in the past few years.
Read the report | | | | | | | |
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| $130T in assets pledged to net-zero targets | |  | Mark Carney (left) with UK finance minister Rishi Sunak.
(Christopher Furlong/Getty Images) | | | A campaign to rally the world's financial system around net-zero carbon targets now has more than $130 trillion in private capital committed to the cause, leaders at the Glasgow global climate conference said Wednesday. - That figure—representing assets managed by over 450 fund managers, banks, pensions and other asset owners—more than covers the capital needed to transform the global economy to meet ambitious decarbonization goals by 2050, according to Mark Carney, the former central banker who leads the coalition.
- But even as the Glasgow group trumpeted its ambitions, some critics who track climate-focused initiatives have derided its approach and called on the group to mandate an unwinding of fossil-fuel investment.
| | | | | | | | | | European states launch alliance to spur unicorn growth | |  | | (Image courtesy of Web Summit) | | | | A political initiative that aims to double the number of European unicorns by 2030 launched at Web Summit yesterday. The Europe Startup Nations Alliance aims to support national governments in improving the structural conditions for domestic startups, to ensure that startups can grow at any stage of their lifecycle. | | | | | | | | | | Remote working intensifies Europe's battle for startup talent | |  | | (Courtesy of Web Summit) | | | The rise of remote working has made it harder for European startups to grow headcount, as overseas companies find it easier to poach top talent from the region, say investors at Web Summit 2021.
With compensation low compared with peers, the key to attracting and retaining workers could lie in Europe's widely varying stock options. | | | | | | | | | | A fertilizer crisis is putting staple crops like corn, rice and wheat in jeopardy. [Bloomberg]
How one venture-backed company plans to cut through the red tape every health startup hates. [Forbes]
Despite crackdowns, VC activity in China remains surprisingly resilient. [The Wall Street Journal] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 192 Deals | 627 People | 153 Companies | 16 Funds | | | | | | |
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| 2018 Vintage Global Real Assets Funds | | | | | | |
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| HoneyBook secures $250M Series E | | | HoneyBook has raised $250 million in a round led by Tiger Global. The San Francisco-based company offers software for small businesses to manage contracts, invoices, projects and more. In May, HoneyBook raised $155 million at a $1.2 billion valuation, according to PitchBook data. | | | | | | | | | Cloudbeds has raised a $150 million Series D led by SoftBank's Vision Fund 2. Founded in 2012, the San Diego-based company is a developer of hospitality management software intended to help hotels and vacation rentals manage reservations and automate operations. Cloudbeds was valued at $185 million in March 2020, according to PitchBook data. | | | | | | | | | Notable has raised a $100 million Series B led by Iconiq Capital. The San Mateo, Calif.-based company's healthtech platform automates healthcare workflows by using AI to perform administrative tasks on behalf of clinicians and staff. Notable was valued at $120 million in April, according to PitchBook data. | | | | | | | | Yellowbrick Data brings in $75M | | | Yellowbrick Data has raised a $75 million Series C1 from investors including Citadel Securities and GV. The Bay Area-based business offers a data warehousing platform. In 2019, the company raised $81 million at a $540 million valuation, according to PitchBook data. | | | | | | | | Brazilian alternative protein startup gobbles up $58M | | | Future Farm has raised a $58 million Series C co-led by Rage Capital and BTG, valuing the Brazilian creator of plant-based meat products at some $400 million, according to reports. The startup currently offers plant-based burger patties, ground beef, sausages and meatballs, but reportedly plans to add plant-based dairy to its list of products. Future Farm has expanded to 23 countries since 2019, launching in the US earlier this year. | | | | | | | | Fingerprinting services provider snags $32M Series B | | | FingerprintJS, a provider of open-source browser fingerprinting services, has raised a $32 million round led by Craft Ventures, with participation from Nexus Venture Partners and Uncorrelated Ventures. The Chicago-based startup's tech is used by developers to detect fraud, spam and account takeovers. The company was valued at $40 million in February after an $8 million Series A, according to PitchBook data. | | | | | | | | | Texas-based BrainCheck has raised a $10 million Series B co-led by Next Coast Ventures and S3 Ventures, with support from UPMC Enterprises, SelectQuote and other investors. Founded in 2015 by two neuroscientists, the startup offers cognitive assessment and decision support tech that helps physicians in over 400 clinical practices provide personalized care to patients. | | | | | |
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| Atlas Holdings to take RR Donnelley private for $2B+ | | | Atlas Holdings has agreed to take commercial printing specialist RR Donnelley & Sons private for $2.1 billion, including debt. Atlas will pay $8.52 a share as part of the deal. The company's stock surged over 35% after the pact was announced. | | | | | | | | Berkshire acquires Harvey Performance Company | | | | | | | | | Resurgens Technology Partners to sell Investment Metrics for $500M | | | | | | | | | KKR lands Bettcher Industries | | | | | | | | | PE-backed Smarsh to pick up Micro Focus' risk management portfolio company | | | K1 Investment Management-backed electronic communications company Smarsh has agreed to acquire the Digital Safe archiving and risk management portfolio from Micro Focus. Smarsh currently serves over 6,500 customers. The deal is expected to close in the first quarter of 2022. | | | | | |
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| Allbirds sees stock climb over 90% in debut | | | VC-backed shoemaker Allbirds has raised $303 million in its IPO, selling shares at $15 apiece and hitting a roughly $2.15 billion market cap. The stock rocketed over 90% in its market debut on the Nasdaq under the ticker BIRD. Backers of Allbirds include Maveron, Tiger Global and Lerer Hippeau Ventures. | | | | | | | | EQT to offload Port of Los Angeles terminal | | | EQT has agreed to offload the Fenix Marine Services terminal at the Port of Los Angeles to shipping group CMA CGM for around $2 billion, Reuters reported. Fenix Marine Services is the third-largest container terminal in Los Angeles and its takeover will add to the 49 terminals already in CMA CGM's portfolio. | | | | | |
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