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In today's Daily Pitch, you'll find: - PE firms and hedge funds are criticizing proposed SEC rules that would expand the confidential data large funds must disclose to regulators and increase the speed with which they must share it.
- Six charts that break down US VC's biggest records in 2021.
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| Private equity and hedge funds pan SEC's push for more data disclosure | |  | | SEC Chairman Gary Gensler (Bill Clark/Getty Images) | | | Too much and too fast.
That's how private equity firms and hedge funds assess proposed SEC rule changes that would significantly expand the amount of confidential information large funds must share with regulators, increase the speed with which they must share it, and boost the number of vehicles that fall under the reporting requirements.
SEC Chairman Gary Gensler says the new rules are needed to enhance regulators' ability to detect systemic risk, regulate the private funds industry and protect investors.
But industry groups are panning the transparency rules as onerous new requirements that would accomplish little more than bogging down investment firms in additional red tape. | | | | | | | | | | Six charts that show 2021's record year for US venture capital | |  | | (welcomeinside/Getty Images) | | | Despite the ongoing impacts of the pandemic, 2021 saw US VC activity begin with a bang and end on a high note.
The Q4 2021 PitchBook-NVCA Venture Monitor explores the data in detail, painting a dramatic picture of the US venture industry and depicting how the year toppled previous records for dealmaking, public listings, fundraising and more. We've selected six charts that portray some of the key trends of the past year.
Check out our visual breakdown here | | | | | | | | | | Why Paris is emerging as an attractive location for international finance firms. [Bloomberg]
How much does it cost to launch a spacecraft into orbit? A lot less than it used to, thanks to startups working to outclass longtime aerospace heavyweights. [Visual Capitalist]
As China and Europe lead the race to make electric vehicles mainstream, the US is holding out. [Wired] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 18 Deals | 104 People | 64 Companies | | | | | | |
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| 2020 Vintage Global VC Funds | | | | | | |
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| Dubai fines Abraaj founder Naqvi | | | The Dubai Financial Services Authority has provisionally fined Abraaj Group founder Arif Naqvi $135.6 million, the Financial Times reported. The regulator, which also levied fines against Abraaj's former head of finance and operations, said that Naqvi "personally orchestrated" deception of investors at the failed PE firm, according to the report. | | | | | |
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| | | Moglix has raised a $250 million Series F co-led by Alpha Wave Global and Tiger Global. The funding values the Indian company at $2.6 billion. Moglix operates a B2B marketplace for industrial goods. | | | | | | | | Enable Injections brings in $215M | | | Enable Injections has raised a $215 million Series C led by Magnetar Capital. The Cincinnati-based company is a developer of wearable drug delivery systems designed to administer high volumes of therapeutics. | | | | | | | | Delivery startup Zapp secures $200M | | | | | | | | | Esusu banks $130M in SoftBank-led round | | | Esusu has raised $130 million at a $1 billion valuation in a Series B led by SoftBank's Vision Fund 2. The New York-based company is the developer of a rent reporting platform designed to help tenants improve their credit scores. | | | | | | | | The Non Fungible Token Company secures $10M | | | Unblocked, also known as The Non Fungible Token Company, has raised $10 million in seed financing from investors including Tiger Global and Penske Media. The funding values the company at more than $90 million. Los Angeles-based Unblocked helps artists create digital music collectibles as NFTs. | | | | | |
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| Berkshire Partners raises $1.5B for Parts Town | | | Berkshire Partners has raised $1.5 billion to help extend its hold on Parts Town—a distributor of repair and maintenance parts intended for the foodservice equipment market—through a secondary deal, The Wall Street Journal reported. Berkshire originally acquired Parts Town in 2016. | | | | | | | | One Equity to take over Trustmarque | | | UK outsourcing company Capita has agreed to sell its IT services division Trustmarque to One Equity Partners. The firm will pay £111 million (about $149 million) for the London-headquartered company, the Financial Times reported. | | | | | | | | Godspeed Capital lands Savli Group | | | Godspeed Capital has acquired Savli Group, a provider of software and IT automation solutions to mission-oriented federal agencies, including the US defense and intelligence communities. | | | | | | | | Spectrum, McKesson back RxVantage | | | Spectrum Equity and McKesson Ventures have led an investment in RxVantage, the California-based provider of a software and data platform designed to connect healthcare professionals and life science experts. | | | | | |
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| PitchBook Webinar: A look at VC's record-breaking 2021 | | Join PitchBook and NVCA on Feb. 2 for a webinar covering the recent Q4 2021 PitchBook-NVCA Venture Monitor.
Our panel of PitchBook analysts and industry experts from Insperity and NVCA will discuss the report's findings, the VC landscape for 2022 and other timely market considerations, including: - In 2021, US VC investment topped $329 billion for the first time, nearly doubling 2020's total of $166.6 billion.
- Strong VC returns in recent years continue to encourage capital inflow into the strategy.
- The IPO window in 2021 allowed an unprecedented $774.1 billion exit value.
- The potential for greater uncertainty on the public listing market in 2022.
Register now to secure your spot | | | | | | | |
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| Citic Capital weighs EBeauty sale | | | Citic Capital is exploring a sale of its controlling stake in EBeauty Holdings, a provider of ecommerce services to the Chinese cosmetics industry, Bloomberg reported. Citic Capital, which acquired its stake in 2019, is said to be seeking a valuation as high as $2 billion. | | | | | |
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| Apollo, Ares, Oaktree join growing PE pledge to report ESG data | | | | | | |
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