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| In today's Daily Pitch, you'll find: | | | | | |
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| Funding for 3D printing grows in lockstep with ambitions | |  | Tiger Global-backed Icon Technology builds concrete homes
with a 3D printer. (Courtesy of Icon Technology) | | | Additive manufacturing technology continues to mature beyond its hobbyist roots, and venture capitalists are taking note.
In the latest stage of the technology's hype cycle, companies are scaling up with new factories and superior printers that promise to transform how homes, high-end parts and even plant-based foods are made. | | | | | | | | | PE helps hoist hotel sector from pandemic lows | |  | | (Magnilion/Getty Images) | | | Between 2020 and 2021, PE investments in the hotel and resorts vertical jumped from eight to 14 deals.
We take a look at the most active investors by deal count since the start of 2017. | | | | | | | | | Mapping Southern Europe's VC ecosystem | |  | | Madrid (Gustavo's photos/Getty Images) | | | As investors cast a wider net to find promising startups, Southern Europe remains on track for another strong year for VC deal activity.
We've mapped out some of the region's key trends across dealmaking, fundraising and exit activity. | | | | | | | | | | Veterinary medicine had dealt with staffing problems for years, and then the pandemic made everything worse. [The Atlantic]
Why pension funds can't put a number on private equity fees. [Institutional Investor]
How one tycoon broke the nickel market and walked away a billionaire. [Bloomberg] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 462 Deals | 2089 People | 550 Companies | 23 Funds | | | | | | |
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| 2011 Vintage Global Funds-of-Funds | | | | | | |
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| Rajeev Misra to step back from Vision Fund | | | Rajeev Misra, CEO of SoftBank's Vision Fund, is reportedly stepping back from his role to pursue a new $6 billion fund. Misra will continue to oversee investments from the original Vision Fund in a reduced capacity, according to reports. | | | | | |
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| Aurora Labs picks up $63M Series C | | | Aurora Labs has raised $63 million in a round led by Moore Strategic Ventures. The Tel Aviv-based company provides an AI-powered platform for developing, testing and remotely updating vehicle software. | | | | | | | | | | | | | | GV leads $15M round for agtech startup Fyto | | | Fyto has raised a $15 million Series A led by GV. The company's automated systems help farmers cultivate and harvest highly nutritious aquatic plants intended for use in food, animal feed and fertilizer. | | | | | |
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| Blackstone to back green energy assets marketplace | | | Blackstone plans to invest $400 million in Xpansiv. The San Francisco-based company's platform allows investors to buy and sell environmental commodities such as carbon offsets, renewable energy credits and low-carbon fuels. | | | | | | | | | Tebra has raised more than $72 million in growth equity and debt financing in a round led by Golub Capital. The funding values the healthcare technology company at more than $1 billion. | | | | | | | Sterling Group picks up Ergotron | | | | | | | | Quote.com lands advertising specialist | | | | | | | | QHP inks deal for Lexitas Pharma Services | | | | | | | | Blue Sage sells Timber Automation | | | | | | |
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| Don't miss our upcoming webinar | | Join PitchBook for a webinar discussing the current state of fund performance, with a spotlight on real estate. Our analysts will dive into market dynamics across asset classes, highlighting trends present in the real estate ecosystem.
Key topics include: - An update on private market fund performance and fundraising.
- Where emerging managers have had success raising funds, where they have struggled, and why.
- How the real estate sector's strategies and property subsectors react to various economic drivers, and what this means for current and future performance.
Register to secure your spot | | | | | | | |
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| Former Theranos executive found guilty of fraud | | | Ramesh "Sunny" Balwani, the former president and COO of blood-testing startup Theranos, has been found guilty of defrauding patients and investors, according to reports. Balwani was found guilty of all 12 charges brought against him. | | | | | |
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| Carlyle eyes Ambio exit at $1B valuation | | | The Carlyle Group is in talks to sell its stake in AmbioPharm in a deal that could value the company at $1 billion, Reuters reported. Ambio, which Carlyle acquired in 2018, is a contract development and manufacturing organization specializing in peptides. | | | | | | | General Atlantic mulls IPO | | | Growth equity investor General Atlantic is considering an initial public offering, Bloomberg reported. The firm is said to be working with advisers on the offering, which may be delayed until next year due to market volatility, according to the report. | | | | | |
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| Barings closes private debt fund on $7B+ | | | Barings has raised €7 billion (more than $7 billion) for its third European Private Loan Fund and associated vehicles, exceeding its initial target. The fund is already over 50% deployed. | | | | | | | Konvoy launches third vehicle | | | VC firm Konvoy has announced its third flagship fund, a $150 million vehicle dedicated to investing in gaming technologies and platforms. | | | | | | | KKR preps inaugural ESG credit funds | | | KKR intends to launch its first two credit funds dedicated to ESG investing later this year, Reuters reported. The pair of vehicles will be managed by the firm's sustainable credit team under Terry Ing and William Needham, according to the report. | | | | | |
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"While both deal count and value decreased by around 40% compared to the records set in Q4 2021, deal activity was in line with that of previous quarters. Much of this is likely due to the three-to-six-month time lag between deal agreements and closings, although the moderate activity level may also suggest that macroeconomic headwinds in Q1 have not been as detrimental to dealmaking as feared."
Source: PitchBook's Q1 2022 US PE Middle Market Report | | | | | |
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