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| Ranking the most active investors of Q1 | | After months of record-breaking investment, 2022 seemed poised to continue the trend. By the end of Q1, the public markets were in turmoil, yet private market activity remained strong throughout the first quarter.
Curious who led the way? PitchBook's interactive Global League Tables are now available for Q1 2022, spanning the full spectrum of activity across PE and VC. The tables break down the most active investors by region, industry, deal type and more, and also rank advisers, acquirers and law firms. | | | | | | | | | | Mapping the Nordic region's VC ecosystem | |  | | (arnaudbertrande/Getty images) | | | Venture investments in the Nordic region have steadily grown over the past decade as its startup ecosystem continues to mature.
Here's a look at some of the key trends that are shaping the Nordic VC market. | | | | | | | |
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| A message from RBC Capital Markets | | |
| What can healthcare innovation today tell us about M&A activity tomorrow? | | The last few years have produced some extraordinary innovations in healthcare, and disruptive technology remains vital to the sector's future. According to RBC's Global Head of Healthcare Investment Banking, Andrew Callaway, "If you think about what is happening in AI and machine-learning drug discovery, those are exciting places to be. Wearables and digital therapeutics are emerging as important areas from a licensing perspective today, but they could be focal points from an M&A perspective tomorrow."
Which healthcare sub-sectors are driving innovation forward? How can M&A strategies help unlock potential?
Get the latest insights from RBC Capital Markets' experts. | | | | | | | |
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| |  | | (Drew Sanders/PitchBook) | | | Did you follow the private markets news this week? Take the PitchBook News Quiz to see how you stack up.
This week: Meme stocks have their revenge, SpaceX's valuation soars, and a mental health startup loses its CEO. | | | | | | | | | | Brookfield's $5B HomeServe deal marks largest UK take-private this year | |  | | (SOPA Images/Getty Images) | | | Brookfield Asset Management's just over £4 billion (roughly $5 billion) offer for HomeServe, which has been accepted by the emergency home repair company, marks the UK's largest PE-backed takeover so far this year.
Unlike some previous take-privates, the deal isn't expected to attract too much regulatory attention. | | | | | | | | | | Mobility tech startups hit a speed bump | | The pandemic and continued urbanization have magnified the challenges of moving people and goods efficiently, while also exposing fault lines in global supply chains. Entrepreneurs and investors in the mobility tech sector have responded with an array of potential solutions.
Our Q1 2022 Mobility Tech Report includes a market map of the industry's subsegments, from ridehailing to last-mile delivery and micromobility. The report also explores opportunities related to autonomous driving hardware and electric vehicle batteries. Other takeaways include: - VC investment in mobility tech slowed from the blistering pace of 2021, dropping 35% quarter-over-quarter to $13.9 billion and 43% year-over-year.
- While the number of exits dipped slightly in Q1 2022 compared to the same period last year, overall exit value plummeted to less than one-sixth of Q1 2021's figure.
- Weaker public equity markets took a toll, with only three listings recorded for the first quarter of this year as acquisitions claimed the driver's seat.
- Autonomous driving, EVs and micromobility combined drove nearly a third of the total deal count.
| | | | | | | | | | As global markets shudder, investor sentiment about China ranges from exuberant to highly cautious. [Institutional Investor]
There is no shortage of automated software that promises to make the web more accessible, but people with disabilities say AI can only go so far. [Protocol]
Why Guggenheim Partners' Scott Minerd thinks the coming summer could be very reminiscent of the collapse of the dot-com bubble. [Fortune] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 408 Deals | 1799 People | 408 Companies | 36 Funds | | | | | | |
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| 2019 Vintage Global Secondaries Funds | | | | | | |
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| Velocity Global scores $400M in Series B | | | Eldridge and Norwest Venture Partners have led a $400 million Series B for Velocity Global, giving the Denver-based startup a multibillion-dollar valuation. Velocity Global's cloud-based platform helps users in over 185 countries onboard, manage and pay their employees. | | | | | | | | SpotOn valued at $3.6B with latest round | | | SpotOn has raised a $300 million Series F led by Dragoneer Investment Group, valuing the company at $3.6 billion. The San Francisco-based startup offers point-of-sale solutions for restaurants, retail businesses and enterprise venues. SpotOn was valued at $3.15 billion in September. | | | | | | | | Masterschool grows with $100M seed round | | | Tel Aviv-based Masterschool has collected $100 million in seed funding led by Group 11. Founded in 2019, the company provides a network of tech career-training schools that allow students to pay for courses as they're hired in the field. | | | | | | | | | Belong has raised an $80 million Series C led by Fifth Wall. The San Mateo, Calif.-based startup offers a property management platform for renters and landlords. | | | | | | | | | Noyo has raised a $45 million Series B led by Norwest Venture Partners. The startup offers an API platform for employee benefits administration. Norwest partner Ed Yip has joined Noyo's board. | | | | | | | | Fetcher fetches $27M Series B | | | Fetcher, the creator of a recruiting automation platform, has raised a $27 million Series B led by Tola Capital. The New York-based startup has now raised about $40 million in total funding. | | | | | | | | SaaS purchasing platform Vertice lands $26M | | | | | | | | | Tiger Global leads $26M round for Bravado | | | Bravado, a network for B2B sales professionals, has raised a $26 million Series B led by Tiger Global. The startup has also announced its acquisition of CompGauge, a provider of salary data, company reviews and interview insights for tech sales representatives. | | | | | | | | ChargeLab collects $15M Series A | | | King River Capital has led a $15 million round for ChargeLab, a creator of software that's used for managing electric vehicle charging equipment. The startup raised a $4.3 million seed round in 2021. | | | | | | | | | Blockchain game developer Azra Games has raised a $15 million seed round led by Andreessen Horowitz. The funds will be used to help the Sacramento-based startup create its first game, "Project Arcanas." | | | | | |
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| Coatue, Insight Partners lead $300M Series D for Xendit | | | Coatue and Insight Partners have led a $300 million Series D for Xendit, the Jakarta-based provider of a payments infrastructure platform. Xendit serves over 3,000 customers across Southeast Asia. | | | | | | | | AGIC Capital picks up Grafotronic | | | AGIC Capital has acquired a majority stake in Grafotronic, which offers automated manufacturing solutions for the digital label finishing and EV battery markets. | | | | | | | | Marigny Investments lands Victory Supply | | | Marigny Investments has acquired Victory Supply, a Tennessee-based distributor of inmate clothing and detention supplies. Founded in 2012, Victory Supply offers products including clothing, undergarments, linens, footwear and gloves. | | | | | | | | GI Partners buys Virginia data center | | | GI Partners has acquired 22262 Cloud Plaza, a Sterling, Va.-based data center. GI Partners' technology and life sciences real estate portfolio totals 37 properties comprising 8.1 million square feet. | | | | | | | | LLR Partners backs Allmark Door | | | LLR Partners has invested in Allmark Door, a commercial door and loading dock services provider. Founded in 1993, the company offers maintenance and replacement services for industrial doors, pedestrian doors and more. | | | | | | | | Clearlake Capital acquires BBB Industries | | | Clearlake Capital Group has acquired BBB Industries, a manufacturer of automotive aftermarket parts. BBB Industries conducts business in 64 countries, with multiple manufacturing facilities and distribution centers in North America and Europe. | | | | | |
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| PitchBook Webinar: VC interest and digitization continue to drive foodtech | | PitchBook will be hosting a webinar on May 31 to discuss foodtech's continued momentum relative to our Q1 2022 Foodtech Report. Our analyst will examine the sector's continued VC activity and evolution toward digitization led by app-based delivery models, consumer behaviors and more.
Key takeaways include: - Food ecommerce and mobile commerce continue to attract venture capital funding.
- Online grocers tap into cost-saving solutions for consumers as grocery prices skyrocket.
- Meal kits regain popularity as consumers look for new and novel ways to prepare meals at home.
Click here to register for the webinar now. If you can't tune in to the live event, RSVP anyway and we'll send you a recording afterward. | | | | | | | |
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| Data intelligence specialist Near to go public via SPAC | | | Near, a provider of data intelligence on people, places and products, has agreed to go public on the Nasdaq through a combination with special-purpose acquisition company KludeIn I Acquisition Corp. The deal would result in a post-transaction pro-forma market cap of nearly $1 billion and generate some $268 million in gross proceeds. | | | | | | | | Turkish mobility startup Marti to list by SPAC merger | | | Marti, the developer of an e-scooter and bike-sharing app, has agreed to go public through a merger with blank-check company Galata Acquisition Corp., Bloomberg reported. The SPAC, which is listed on the NYSE, raised $125 million last year. Marti is currently backed by investors including Actera. | | | | | | | | Surf Air Mobility to combine with Southern Airways, plans SPAC merger | | | | | | |
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| Stellus raises $950M across pair of funds | | | Stellus Capital Management has raised $950 million for a pair of funds, The Wall Street Journal reported. The Houston-based firm raised about $725 million for its third credit fund and $225 million for its first private business development vehicle. | | | | | | | | Benford closes Fund II on $200M | | | Chicago-based Benford Capital Partners has closed its second fund on $200 million. The vehicle will target lower-middle-market businesses. The firm closed its first fund on $130 million in 2020. | | | | | |
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"Real estate appears to be consolidating into fewer and much larger funds. That said, while there have been few funds over $5 billion in capital raised, the main focus of LP commitments was funds between $500 million and $5 billion. Supporting the aforementioned assertion that this has become a tough market to break into, roughly 75% of capital raised in 2021 went to funds in that range."
Source: PitchBook's H2 2021 Global Real Estate Report | | | | | |
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