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| In today's Daily Pitch, you'll find: | | | | | |
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| Assessing PitchBook's 2022 predictions for Europe's private markets | | At the end of last year, few could have anticipated how different the landscape would look for private markets in 2022.
Macroeconomic headwinds, including rising inflation and public market volatility, have created a more pressurized environment for both private equity and venture capital in Europe, one that is in stark contrast to the heady days of 2021. Now, midway through the year, our analysts revisit their December predictions in our 2022 European Private Capital Outlook: H1 Follow-Up.
Our 2022 predictions that we revisit include: - Global carveout deal value will hit a new high of €200 billion in 2022.
- European VC deal value will hit a record €175 billion in 2022.
- VC-backed public listings will decline in value and count from 2021 highs.
| | | | | | | | | Charting the cooldown in global M&A deals | |  | | (the_burtons/Getty Images) | | | Perceptible macroeconomic headwinds took a toll on global M&A activity in Q2 2022, as investors and companies contended with persistent inflation, geopolitical tension, pandemic-induced supply chain issues and lower valuations.
Our latest Global M&A Report examines how M&A activity has performed as volatility picks across the market. Here are four key takeaways from the report. | | | | | | | |
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| A message from PitchBook Media | | |
| As market volatility spikes, share your expertise with your clients | | Markets are in turmoil—everyone is trying to figure out what is coming next. This is an opportunity to seize and share your firm's expertise and insights for challenging times. By partnering with PitchBook Media, you can reach an actively growing audience across multiple channels, including: - A succinct, timely message in The Daily Pitch newsletter that reaches over a million private market professionals, many of whom are looking for guidance and relevant insights.
- Sponsorship of market-leading industry reports that dive into pressing issues like the challenges for formerly high-flying startups as valuations grow pressured.
- Audience-specific advertisements within the most relevant PitchBook newsletter, whether VC, PE or M&A.
Reach out to learn more | | | | | | | |
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| Does PE still have a taste for European fashion? | |  | | (Ming Yeung/Getty Images) | | | PE investment in European apparel companies has cooled off, but as the industry faces economic upheaval, changing consumer behavior and technology disruption, there are opportunities to create value.
Investors note how the fashion industry is changing and why a one-size-fits-all approach to strategy may not always work. | | | | | | | | | | The case for making public transit free everywhere. [Wired]
Air taxis keep crashing and bursting into flames in testing, but advocates say accidents are a healthy sign that the industry is pushing the envelope. [Bloomberg]
Big Tech's biggest names have all attempted, in one way or another, to upend the healthcare industry. Now they're trying a more classic strategy: buy well-known brands. [Protocol] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 12 Deals | 166 People | 77 Companies | | | | | | |
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| 2016 Vintage North American VC Funds | | | | | | |
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| Novasenta lands $40M Series A | | | Novasenta has raised $40 million in a round led by UPMC Enterprises. The company offers a drug discovery platform for cancer therapies. | | | | | | | Space and Time raises $10M | | | Space and Time, the developer of a decentralized data analytics platform, has raised $10 million in a seed round led by Framework Ventures, according to reports. | | | | | | | | | UneMeta has raised $5 million in a round led by the Jasmy Foundation. The company provides NFT incubation, trading and social networking services. | | | | | |
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| Don't miss our upcoming webinar | | Join our supply chain webinar to get up to speed on the substantial changes in this industry over the past two years and what to expect in the future. Though supply chains have struggled to meet demands through the COVID-19 pandemic, the space continues to see innovation and VC interest.
In this webinar, our analysts will explore some of the new technologies expected to address major industry pain points and how this may impact future VC activity. Key topics include: - The trajectory of supply chain developments.
- Past and present VC deal activity.
- Emerging tech opportunities that could help global supply chain industries.
Register now to secure your spot. | | | | | | | |
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| Carlyle, Advent land stakes in Yes Bank with $1.1B investment | | | | | | | | Apollo finalizes $510M+ investment in Air France affiliate | | | Apollo Global Management has finalized its €500 million (about $511 million) investment into an Air France operating affiliate that owns spare engines for the airline's engineering and maintenance activities. | | | | | | | GID lands two industrial real estate portfolios | | | GID Real Estate Investments has acquired two industrial portfolios consisting of 14 building properties and 1.39 million square feet of real estate. The two investments are located in the I-95 Baltimore-Washington corridor and the city of North Las Vegas. | | | | | |
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| Variant closes $450M across two Web3 funds | | | VC firm Variant has raised a $150 million seed fund and a $300 million opportunity fund to invest in Web3 companies. The investor's current portfolio includes decentralized exchange Uniswap and ethereum scaling platform Polygon. | | | | | | | Zedcrest commits $10M to African startups | | | Financial services firm Zedcrest has raised $10 million for the earliest stage startups in Africa, TechCrunch reported. | | | | | |
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"As a result of the tougher fundraising market, we expect extended fundraising timelines, fund step-ups to soften, some high-profile fundraising failures, and less fund closures from smaller and inexperienced GPs who haven't invested through recessionary markets."
Source: PitchBook's Q2 2022 European PE Breakdown | | | | | |
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