Our debut carbon tech report

Glasswing Ventures raises $158M AI fund; Q&A: Vista Credit on private debt; FTX leads $300M round for Mysten Labs; PowerPlant generates $330M vehicle

Read online | Don't want to receive these emails? Manage your subscription. Log in The Daily Pitch: VC, PE and M&A September 9, 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: From carbon capture to green mining, our debut Carbon & Emissions Tech Report explores VC trends and opportunities in the nascent sector. We spoke to Glasswing Ventures' founder Rudina Seseri about the firm's second fund and the current fundraising environment. A Q&A with Vista Credit Partners' head David Flannery on private debt versus syndicated loans.   Today's Top Stories   All systems go for carbon and emission tech As legislation, policy and net-zero emissions pledges encourage decarbonization across the globe, startups developing carbon and emissions tech are reeling in investors. The vertical is poised for strong continued growth thanks to increasing global focus on aggressive emissions targets and consumer interest in emissions reduction. PitchBook analysts estimate the overall market will reach $905 billion in 2022. Our first Carbon & Emissions Tech Report explores VC trends in the nascent sector and spotlights opportunities in carbon tech, green industry, built environment and land use. read the preview   Share: Glasswing Ventures takes off with $158M second fund (Darkdiamond67/Shutterstock) Glasswing Ventures has raised $158 million for its latest vehicle to back AI-enabled startups. Raising the fund was in some ways easier than the first, but it came with its own challenges in a crowded fundraising environment. We spoke to founder and managing partner Rudina Seseri about the process. read more   Share:   A message from Ontra   Finally: contract automation for private markets Contract technology has left out asset management for years. Point solutions, which focus on improving a specific element of contracting, force firms to use multiple ad hoc solutions to cover the entire contract lifecycle. Meanwhile, contract lifecycle management (CLM) platforms are often too generic for firms to realize the time and cost savings they expect. Most CLM providers don't base their features on what asset managers need to efficiently execute high-volume, routine contracts while complying with numerous investor obligations. Given the limitations, Ontra took an in-depth look at what's available in its new infographic, The Contract Automation Landscape for Private Markets. Review the infographic now. Share:   Bessemer raises $3.85B for early-stage startups (eamesBot/Shutterstock) Bessemer Venture Partners has raised a $3.85 billion fund, the largest vehicle of the firm's nearly 50-year history and the ninth-largest individual US VC fund ever, according to PitchBook data. The fund comes just 18 months after Bessemer announced its previous vehicle. Until now, the firm had been closing new funds approximately every three years. Fundraising cadence increased for venture funds in recent years as many firms, including Bessemer, deployed capital at a rapid pace amid the market boom of 2021. read more   Share: Q&A: Vista Credit's David Flannery on private debt vs. syndicated loans (fuyu liu/Shutterstock) David Flannery leads Vista Equity Partners' credit-investing strategy, Vista Credit Partners, which provides debt and structured equity financing to tech, data and enterprise software companies. Our colleagues at LCD spoke to Flannery about the balance between the syndicated loan market and private debt, the outlook for the tech sector and more. read more   Share: Recommended Reads Can Mike Novogratz's comeback narrative survive the crypto crash? [Institutional Investor] Germany's €9 public transit program came to an end in August, but the country hasn't given up on cheap public transit as it continues to face a gas crisis. [Bloomberg] Incoming Y Combinator CEO Garry Tan hopes to tap the program's alumni network to generate new tech giants. [Wired]   Since yesterday, the PitchBook Platform added: 459 Deals 1961 People 528 Companies 13 Funds See what our data software can do   Quick Takes     The Daily Benchmark     2009 Vintage Global Real Estate Funds     VC Deals     FTX leads $300M round for Mysten Labs     Carrot secures $145M     Tesseract picks up $78M     Photys Therapeutics brings in $75M     Dealpath snags $43M Series C     Crop intelligence company Taranis rakes in $40M     Arize AI pockets $38M Series B     Teenage founder raises $30M for Community Labs     TigerEye takes in $30M     21.co valued at $2B with new funding     Open Raven bags $20M Series B     PE Deals     LLR Partners backs Vantage Point Logistics     Sentinel Capital lands SmartSign     FFL exits stake in Accordion     American Securities acquires Meridian Adhesives Group     Exits & IPOs     Tailwater to sell NorTex Midstream to Williams Field for $423M     Fundraising     BayPine wraps up first fund on $2.2B     Ardian closes fifth Americas infrastructure fund on $2.1B     PowerPlant picks up $330M       The Daily Benchmark   2009 Vintage Global Real Estate Funds Median IRR 9.70% Top Quartile IRR 12.20% 1.39x Median TVPI Select top performers LBA Realty Fund IV Lubert-Adler Fund VI A GEM Realty Fund IV *IRR: net of fees 29 Funds in Benchmark » Check out the latest version of PitchBook Benchmarks   VC Deals   FTX leads $300M round for Mysten Labs Mysten Labs, creator of the Sui blockchain, has secured a $300 million Series B at a more than $2 billion valuation. The round was led by FTX Ventures, with support from investors including Andreessen Horowitz, Apollo Global Management, Lightspeed and Coinbase Ventures. View round   View similar company »   Carrot secures $145M Digital insurance company Carrot has raised 175 billion South Korean won (about $145 million) in a round led by Affirma Capital. The company plans to raise another 125 billion won in Q4. View round   View similar company »   Tesseract picks up $78M Balderton Capital and Lakestar have led a $78 million investment in London-based Tesseract. The startup seeks to cut out energy-market middlemen by owning renewable generator assets and selling power directly to consumers. View round   View similar company »   Photys Therapeutics brings in $75M Photys Therapeutics has raised a $75 million Series A led by MPM Capital. The company is developing bifunctional medicines intended to restore protein function and boost disease-fighting mechanisms. View round   View similar company »   Dealpath snags $43M Series C Dealpath has raised a $43 million Series C led by Morgan Stanley Expansion Capital, with participation from Blackstone, Nasdaq Ventures and others. The San Francisco-based company offers a cloud-based real estate investment management platform. View round   View 25 competitors »   Crop intelligence company Taranis rakes in $40M Taranis has raised a $40 million Series D led by Inven Capital. The company, which has offices in the US, Israel and Brazil, offers a crop intelligence platform for agriculture advisers and growers. View round   View 34 competitors »   Arize AI pockets $38M Series B Arize AI has raised $38 million for its machine learning observability platform used by clients such as Uber, Spotify, eBay and Instacart. TCV led the Series B. View round   View 19 competitors »   Teenage founder raises $30M for Community Labs Community Labs has raised $30 million in funding led by Lightspeed. Headed by 19-year-old Tate Berenbaum, the company builds software development tools for Arweave, a decentralized data storage system. View round   View similar company »   TigerEye takes in $30M Stealth-stage tech startup TigerEye has raised $30 million in a Series A led by Initialized Capital and Next47. View round   View similar company »   21.co valued at $2B with new funding Zurich-based 21.co has raised $25 million in a round led by Marshall Wace at a $2 billion valuation. Its main products are 21 Shares, an issuer of cryptocurrency exchange-traded products, and token provider Amun. View round   View similar company »   Open Raven bags $20M Series B Open Raven has raised $20 million in a round led by Pelion Ventures. The startup specializes in data security posture management. View round   View 44 competitors »     PE Deals   LLR Partners backs Vantage Point Logistics LLR Partners has invested in Vantage Point Logistics, a provider of supply chain management software for healthcare organizations. View deal   View 14 competitors »   Sentinel Capital lands SmartSign Sentinel Capital Partners has acquired SmartSign, a New York-based provider of customizable signs, labels and tags for regulatory, compliance and safety applications. View deal   View similar company »   FFL exits stake in Accordion FFL Partners has sold its stake in Accordion, a private equity-focused financial and technology consulting firm, to Charlesbank Capital Partners and Motive Partners. FFL originally invested in Accordion in 2018. View deal   View 16 competitors »   American Securities acquires Meridian Adhesives Group American Securities has acquired Meridian Adhesives Group, a producer of advanced adhesives for electronics, infrastructure and industrial end markets, from Arsenal Capital Partners. View deal   View similar company »     Exits & IPOs   Tailwater to sell NorTex Midstream to Williams Field for $423M Tailwater Capital has agreed to sell NorTex Midstream, a developer and operator of multicycle natural gas storage in the US, to Williams Field Services Group—a subsidiary of The Williams Companies—for $423 million. View details   View similar company »     Fundraising   BayPine wraps up first fund on $2.2B Boston-based BayPine has closed its inaugural private equity fund on $2.2 billion. Including capital from co-investors, the fund has roughly $3 billion to deploy. The firm targets upper-middle-market businesses in the healthcare, consumer, specialty industrials and business services sectors. View fund   View 9 investments »   Ardian closes fifth Americas infrastructure fund on $2.1B Ardian has closed its fifth Americas infrastructure fund on $2.1 billion. The fund will invest in mid-market US companies in the telecommunications, transportation and energy transition sectors. View fund   View 1,148 investments »   PowerPlant picks up $330M PowerPlant Partners has closed its third flagship fund on $330 million. The vehicle will make investments of up to $40 million in consumer-facing companies making a positive impact on people and the planet. View details   View 31 investments »     Chart of the Day   Source: PitchBook's H1 2022 Greater China Venture Report   Who's in the newsletter today? People Tate Berenbaum Investors Affirma Capital American Securities Andreessen Horowitz Apollo Global Management Ardian Arsenal Capital Partners Balderton Capital BayPine Blackstone Charlesbank Capital Partners Coinbase Ventures FFL Partners FTX Ventures Initialized Capital Inven Capital LLR Partners Lakestar Lightspeed MPM Capital Marshall Wace Morgan Stanley Expansion Capital Motive Partners Nasdaq Ventures Next47 Pelion Ventures PowerPlant Partners Sentinel Capital Partners TCV Tailwater Capital The Williams Companies Companies 21.co Accordion Arize AI Arweave Carrot Community Labs Dealpath Instacart Meridian Adhesives Group Mysten Labs NorTex Midstream Open Raven Photys Therapeutics SmartSign Spotify Taranis Tesseract TigerEye Uber Vantage Point Logistics eBay     About PitchBook | Terms of use | Advertise with us | Contact Follow us: This email was sent to edwardlorilla1986.paxforex@blogger.com via the PitchBook Platform. 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