Another rout for global markets

Carbon tech's moment in the sun; PE rides on Europe's transport recovery; Kushner's Affinity to back Mosaic; Soba snags $13.6M

Read online | Don't want to receive these emails? Manage your subscription. Log in The Daily Pitch: VC, PE and M&A July 5, 2022 The Daily Pitch is powered by PitchBook's industry-defining research and best-in-class data In today's Daily Pitch, you'll find: Our Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. Our new market map lays out the landscape for carbon tech companies that are helping industries monitor and capture emissions.   Today's Top Stories   US markets on pace for worst start to year in decades Public equities fell again in June, this time coinciding with a fall in many commodities. Central banks continue to fight inflation, causing investor hesitation in public and private markets as recession odds rise. Meanwhile, corporate bond spreads inch toward stress territory, and US markets are on pace for their worst start to a year in decades. Unicorn creation also declined again, with fewer than 30 being minted in June. However, returns in China and Latin America held silver linings. PitchBook's latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also includes private markets activity, including major PE and VC deals, IPO performance, and unicorn creation by region. In this monthly digest, we provide the datasets that PitchBook's research team is keeping an eye on as financial markets remain volatile. read more   Share: Market Map: Carbon tech's moment in the sun (LuckyBusiness/Getty Images) Climate tech startups focused on tracking, eliminating and reversing greenhouse gas emissions have received renewed attention amid an energy crisis and forthcoming regulations for global corporations. Our latest market map lays out the landscape for carbon tech companies that are helping industries decarbonize with tools to monitor and capture emissions. read more   Share: PE investment rides on Europe's transport recovery (Tim E White/Getty Images) PE investors have been eyeing opportunities in Europe's commercial transport industry, with deal value hitting a new peak in 2021. Even the UK's rail sector—currently impacted by industrial action from rail unions—has become a target, as PE investors are drawn to inflation-linked revenue secured by government contracts. read more   Share: Recommended Reads How one lottery lawyer built a practice giving legal and financial advice to jackpot winners, then lost their millions. [Bloomberg] DeFi is being threatened by an existential problem that runs much deeper than liquidity crises: It only lends money to itself. [The Wall Street Journal] As Chinese automakers gear up for a big push into the West, anxiety is mounting as to what—and how much—data is being recorded by vehicles. [Wired]   Since yesterday, the PitchBook Platform added: 471 Deals 1591 People 524 Companies 35 Funds See what our data software can do   Quick Takes     The Daily Benchmark     2012 Vintage Global Secondaries Funds     VC Deals     Soba raises $13.6M     Promoted secures $6M     PE Deals     Kushner's Affinity to co-lead $200M+ round for Mosaic at $1B+ valuation     PE-backed NielsenIQ and GfK agree to merger     Highlander offloads QTI to NEP     Fundraising     Telegraph Hill collects $525M for fifth fund       The Daily Benchmark   2012 Vintage Global Secondaries Funds Median IRR 12.20% Top Quartile IRR 16.10% 1.38x Median TVPI Select top performers Dover Street VIII Pomona Capital VIII Keyhaven Secondaries Fund I *IRR: net of fees 13 Funds in Benchmark » Check out the latest version of PitchBook Benchmarks   VC Deals   Soba raises $13.6M Soba has raised $13.6 million in seed financing led by Lightspeed, with participation from FTX Ventures. Based in Berlin, the company offers no-code tools for game building through its open-world gaming platform. Promoted secures $6M Promoted has raised $6 million in seed financing led by Y Combinator. Based in the Bay Area, the company analyzes user metrics to help online marketplaces and ecommerce businesses sort search results to increase revenue. View round   View similar company »     PE Deals   Kushner's Affinity to co-lead $200M+ round for Mosaic at $1B+ valuation Jared Kushner's Affinity Partners and Swiss bank J. Safra Sarasin have agreed to lead a $200 million-plus round for Mosaic, a provider of financing for solar energy projects and other sustainable home improvements, Axios reported. The Series D would reportedly value the Oakland, Calif.-based company at over $1 billion. View deal   View 10 competitors »   PE-backed NielsenIQ and GfK agree to merger Advent International-backed global information services company NielsenIQ and KKR-backed German provider of market research and consumer information GfK have agreed to merge. Advent will be the majority shareholder in the combined company, while KKR and Nuremberg Institute for Market Decisions, which has a stake in GfK, will remain investors. View deal   View similar company »   Highlander offloads QTI to NEP Highlander Partners has sold QTI Fibers, a designer and manufacturer of specialty fabrics and coated materials for use in a range of industries, to Norwest Equity Partners. QTI operates manufacturing facilities in Alabama and North Carolina. View deal   View 2 competitors »     Fundraising   Telegraph Hill collects $525M for fifth fund Telegraph Hill Partners has raised $525 million for its fifth flagship fund. Based in San Francisco, the venture capital and growth equity firm invests in life sciences and healthcare technology companies. View fund   View 47 investments »     Chart of the Day   Source: PitchBook's Q1 2022 Global M&A Report   Who's in the newsletter today? People Jared Kushner Investors Advent International Affinity Partners FTX Ventures Highlander Partners J. Safra Sarasin KKR Lightspeed Norwest Equity Partners Nuremberg Institute for Market Decisions Telegraph Hill Partners Y Combinator Companies GfK Mosaic NielsenIQ Promoted QTI Fibers   About PitchBook | Terms of use | Advertise with us | Contact Follow us: This email was sent to edwardlorilla1986.paxforex@blogger.com via the PitchBook Platform. Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here. © 2022 PitchBook. Win what's next. All rights reserved.