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In today's Daily Pitch, you'll find: - Our 2021 Annual Artificial Intelligence and Machine Learning Report dives into the market segments driving growth in the maturing vertical.
- Apollo Global Management is launching a $100 billion sustainable investing platform to target a range of strategies that will bolster its decarbonization efforts.
- Our 2021 Annual Foodtech Report examines the sector's investment activity and assesses emerging opportunities.
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| Maturing data science infrastructure drives record VC funding for AI startups | | Artificial intelligence startups are riding high on rapid enhancements to open-source models, such as those used for multilingual translations and computer vision.
However, venture capital funding for AI and machine learning grew less robustly than software VC overall. Startups in the sector collected $115 billion in 2021, growing only 87.2% year-over-year from $61.4 billion in 2020.
Our 2021 Annual AI and ML Report dives into the vertical's investment activity and trends, assessing emerging opportunities across market segments like horizontal platforms, semiconductors and autonomous machines. | | | | | | | | | | Apollo's $100B sustainable investing platform looks beyond private equity | |  | | (Olivier Le Moal/Getty Images) | | | Apollo Global Management is increasing the firepower behind its decarbonization efforts to the tune of $100 billion.
The asset manager plans to deploy the capital through a new platform devoted to energy transition and the decarbonization of industrial sectors by 2030, highlighting a trend that has become a top priority for firms.
"When you talk about energy transition, it's a theme, not a sector; it permeates so much of what we all do," said Olivia Wassenaar, an Apollo investor who was just promoted to lead the firm's sustainable investing initiative. "So for us, it made sense to come up with a platform approach so that we're thoughtful and coordinated in finding the best source of capital to meet the needs of companies and communities across the globe." | | | | | | | |
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| A message from McDermott Will & Emery | | |
| Connect with industry leaders face-to-face on Miami Beach | | Nothing beats an in-person event for making the right connections. On March 9 and 10, join healthcare investment industry leaders at HPE Miami for two fantastic days of panels, cocktails and conversation on the beach. This year, it will not only be back in person; it will also be in a ballroom directly on the sand for insightful panels and networking.
But it's not all about work. Enjoy Miami's signature brand of fun in the sun with outdoor activities, plus poolside parties and dinner on the beach. Meet up with old friends and make new connections at The Ritz-Carlton, South Beach. HPE Miami is the place where the conversations that will shape the future of healthcare investing will be happening in 2022—don't miss it.
Register today | | | | | | | |
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| Foodtech funding doubles in 2021 as VCs supersize their investments | | The foodtech sector is rapidly evolving due to shifting consumer behavior, technological innovation, supply chain vulnerabilities and increased focus on sustainability.
Our 2021 Annual Foodtech Report examines the sector's investment activity, assessing emerging opportunities across market segments—led by alt-proteins, online grocers and delivery robots. Key takeaways include: - VCs poured more than $39 billion into foodtech companies in 2021. Over half of the capital went to two categories: online grocers and apps and marketplaces.
- We expect the momentum for bio-engineered foods, such as plant-based proteins, to continue into 2022 as startups create more realistic alternatives to meat and dairy products.
- China has become a hotbed for online grocers as startups such as Xingsheng Selected, Nice Tuan and Pupumall compete for the massive market opportunity presented by high-population areas.
| | | | | | | | | | Robinhood imitators spring up everywhere | |  | | (Richard Drury/Getty Images) | | | The next retail trading boom may be in one of the world's many overlooked markets. That's the theory driving the rise of stock-trading apps around the globe.
In recent weeks, investing startups based in Cairo, Istanbul, Ho Chi Minh City and Lagos have raised early-stage rounds. Here's a map of the platforms hoping to be the next Robinhood. | | | | | | | | | | Do ESG funds simply represent a hopeful marketing-induced trend that will neither benefit the planet nor provide investors with higher returns? [Institutional Investor]
When a job is done remotely, it's almost impossible to give credit simply for showing up. As a result, managers are rethinking how they value employees' work and how it should be compensated. [Fortune]
The astronomy community is buzzing about the newest space telescope on the block, but Hubble is still going strong. [The Atlantic] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 4 Deals | 78 People | 24 Companies | | | | | | |
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| 2013 Vintage Global Secondaries Funds | | | | | | |
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| Unabated: Reflecting on 15 years of private capital markets growth | | Over the past 15 years, there have been several key inflection points that have contributed to the growth, maturation and deepening of the global private capital markets. From the global financial crisis and the first unicorn to recent US elections and the pandemic, these factors paved the way for today's record-breaking investment landscape—and will undoubtedly have a lasting impact on the future.
What past financial events do you think contributed to today's dealmaking environment? What future implications do these events present for the next 15 years? PitchBook wants to hear your thoughts!
Submit your ideas to pr@pitchbook.com and you may be quoted in an upcoming feature. | | | | | | | |
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| Valoreo nabs $80M Series B | | | Valoreo has raised $80 million in a round led by L Catterton. Founded in 2020, the Mexico City-based startup acquires, operates and scales ecommerce businesses across Latin America. | | | | | | | | | | | | |
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| Brookfield bids $1.5B for Belgian REIT | | | Brookfield Asset Management has offered to acquire Befimmo for €47.50 (about $53.50) per share, Bloomberg reported. The deal, which would value the Belgian office real estate investment trust at roughly $1.5 billion, is said to be supported by the company's board and management. | | | | | |
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| Lime Rock, ADIC weigh Oilserv sale | | | | | | |
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| Spark pulls in $2B+ across two funds | | | Spark Capital has closed its newest set of early-stage and venture-growth funds with over $2.1 billion in commitments. The firm's portfolio includes fintech company Plaid and Slack, the developer of a workplace messaging platform. | | | | | | | | Hack VC raises $200M crypto fund | | | Hack VC has raised $200 million to back early-stage crypto, Web3 and blockchain startups. Based in the Bay Area, the VC firm's portfolio includes crypto exchange operator BlockFi and Canva, the developer of a graphic design platform. | | | | | |
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| Zendesk scraps $4.1B SurveyMonkey deal | | | Zendesk has terminated its $4.1 billion acquisition of SurveyMonkey parent Momentive after Zendesk investors rejected the deal. Earlier this month, Zendesk received a roughly $17 billion takeover offer of its own from a consortium of PE firms, which put additional pressure on the Momentive buyout, according to a report from The Wall Street Journal. | | | | | |
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