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| In today's Daily Pitch, you'll find: | | | | | |
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| Some newly public fintech companies face tough choices in 2023 | | The new year didn't ring in any relief for fintech investors. Since the S&P 500 bottomed out in October, newly public fintech companies have continued to watch their stocks drop, despite some momentum returning to the market. Will these startups be forced to sell, or can they get creative with their fundraising?
Our Q4 2022 Fintech Public Company Valuation Guide tracks stock performance, revenue, EBITDA, and earnings-per-share forecasts as well as market caps of key publicly traded companies. It also includes new data on ESG, valuations of private fintech companies and a number of new charts.
To discuss fintech valuations, contact james.ulan@pitchbook.com and rudy.yang@pitchbook.com. | | | | | | | | | Sprouting Q4 revenue did not woo public investors to indoor farming | | Despite strong revenue growth, indoor farming companies didn't have such luck with their stock performance in Q4 2022, as many investors bet against their ability to survive further profit declines. Meanwhile, commodity prices settled down slightly after surging earlier in the year, yet remained historically high.
So, how did public agtech companies round out the year amid such uncertain conditions?
Check out our Agtech Public Company Valuation Guide to see the latest data on stock performance, revenue forecasts and market caps of key publicly traded companies across sectors including precision agriculture, animal agriculture and plant biotech.
To discuss agtech valuations, contact alex.frederick@pitchbook.com. | | | | | | | | | Q&A: The draw of private markets for family offices | |  | | (dgmata/Shutterstock) | | | Family offices have been increasing their allocations to private markets in recent years due to meager returns in public markets.
We spoke to Antonio Curia, the executive director at Wimmer Financial, a London-based family office advisory, about how family offices are increasing their alternatives exposure. | | | | | | | | | | In the battle for grid-scale battery dominance, who will emerge victorious? Lithium-ion has proven to be far from perfect, but the alternatives—such as redox flow to metal air—also have their lists of pros and cons with much to prove. With the first winter since Russia's invasion of Ukraine approaching and threatening Europe's energy security, the interest and investment in new energy technologies have never been higher.
In our latest analyst note, PitchBook analyst John MacDonagh dives into the figures, trends, and emerging technologies on the rise. He lays out these alternatives—and the big players that VCs are betting on. | | | | | | | | | | Companies got an edge from their PE owners during the pandemic, adding to the evidence that PE can help firms survive downturns. [Institutional Investor]
Algorithms are increasingly making decisions in the workplace. Here's how to curb the potential harms and abuses. [Wired]
A decade of streaming has transformed storytelling and TV viewing habits. But we may be starting to hit that transformation's limits. [The New York Times] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 10 Deals | 151 People | 52 Companies | | | | | | |
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| 2019 Vintage Global Funds-of-Funds | | | | | | |
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| KreditBee nears $700M valuation | | | Indian fintech startup KreditBee has closed a $200 million Series D led by Advent International, according to reports. The latest round brings the company's valuation to roughly $680 million. KreditBee offers micro-loans and credits to customers. | | | | | | | Metagenomi extends Series B to $275M | | | | | | | | Biotech startup HighTide raises $107M | | | HighTide, a specialist in drug therapies for metabolic and digestive diseases, has raised a $107 million Series C led by TCM Healthcare Fund of Guangdong, which is managed by China Development Bank Capital. | | | | | | | | | The Column Group has led a $100 million Series C into biotech startup Synthekine, which offers cell protein therapeutics. The company currently has one product in clinical trials. | | | | | | | Immune-Onc Therapeutics nabs $25M extension | | | Immunotherapy startup Immune-Onc Therapeutics has closed a $25 million extension round led by Triwise Capital. The extension brings the Series B total to $131 million. The startup is developing bone marrow checkpoint inhibitors for cancer patients. | | | | | | | Doorstead locks in $21.5M for property management | | | | | | |
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| PitchBook Webinar: 2023 Private Equity Outlook | | Join us in examining PitchBook's recent analyst note: 2023 Private Equity Outlook. The discussion will cover the new era of buyouts, along with fundraising trends that are helpful for navigating a challenging environment. Key topics include: - PE dealmaking pace remains muted, but new opportunities arise during market volatility.
- Exploring developments in the stunted exit market.
- Fundraising trends: Who will be the winners in the increased competition for capital?
Register to secure your spot. | | | | | | | |
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| Lone Star weighs $2B Titan deal with Carlyle, Stellex | | | | | | | | Renovus lands ToxStrategies for $40M | | | Renovus Capital Partners has purchased a majority stake in scientific consulting firm ToxStrategies for $40 million. The company, founded in 2008, serves a range of clients from pet food manufacturers to government agencies and pharmaceutical companies. | | | | | | | PE-backed CaseWorthy acquires MediSked | | | Symphony Technology Group's CaseWorthy has acquired a majority stake in MediSked, a software provider that helps social services organizations manage individuals' care. STG first backed CaseWorthy with $35 million in late 2021. | | | | | | | Delos, Silverfern buy Le Sueur | | | | | | |
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| Platinum's Yak Access close to restructuring | | | Platinum Equity-backed Yak Access, which provides temporary access mats for rural construction projects, has been in talks to restructure its finances, The Wall Street Journal reported. Yak is under financial pressure amid low pipeline construction activity, according to the report. | | | | | |
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"Regionally speaking, fundraising in Asia has continued its steep downward trend of the last four years ... Much of this decline is attributed to the slow fundraising activity in China, as government pressures and policies such as zero-COVID hamper the economy and business activity."
Source: PitchBook's Q3 2022 Global Private Market Fundraising Report | | | | | |
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