| |
In today's Daily Pitch, you'll find: - Our latest Global Markets Snapshot breaks down one month of trends in the equity, debt and commodities markets.
- Venture investors in Europe, the Mideast and Africa share their predictions for the market in 2023.
- Chart of the day: PE middle-market buyout value as a share of all PE value, from our US PE Middle Market Report.
| | | | | |
| |
| |
| A stormy December for global markets | | After two months on the up-and-up, US stock indexes ended December down. European markets didn't fare much better, but Hong Kong's Hang Seng index bucked the global trend and rose 5.9% to round out the year. Meanwhile, the commercial real estate market has taken a hit due to rising central bank rates and the threat of slowing business activity, and PitchBook analysts expect real estate fund returns to continue to correct into the new year as investors hunt for liquidity.
Our latest Global Markets Snapshot breaks down one month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also explores private markets activity—including major deals, fundraising, IPO performance, lending volumes and unicorn creation. In this monthly digest, we provide the datasets that PitchBook's Institutional Research team is keeping an eye on as markets remain volatile. | | | | | | | | | Newly public stocks slide into the new year | | The end of the year brought little reprieve for newly public companies, which were among the hardest-hit stocks in 2022.
PitchBook's indexes of companies that went public through an IPO or SPAC merger continued to decline in the final months of the year. The results offered little encouragement to companies eagerly awaiting more receptive public markets. - The DeSPAC Index declined 68.9% in 2022.
- The VC-backed IPO Index ended the year down 61.3%.
- The PE-backed IPO Index fell 44.9%.
| | | | | | | | | SpaceX, a darling of the secondaries markets, to raise new funds at $137B | |  | A SpaceX Starlink internet terminal in Ukraine.
(Nina Lyashonok/Getty Images) | | | Investors continued to be bullish on Elon Musk's SpaceX, a rocket launch and satellite internet provider, amid an otherwise tumultuous 2022 for his other significant assets.
SpaceX, which consistently traded a premium on the secondaries market even when all other companies traded down, is reportedly raising a new round led by Andreessen Horowitz at a $137 billion valuation. | | | | | | | | | VC predictions: What's in store for Europe, the Mideast, Africa in 2023? | |  | | (Anton Balazh/Shutterstock) | | | Venture investors expect a challenging year ahead for the startup ecosystem in Europe, the Middle East and Northern Africa amid ongoing uncertainty and economic headwinds.
We spoke to VCs active in the region to find out the challenges and opportunities they anticipate in 2023. | | | | | | | | | | Christopher Phillips, head of Google's Geo group, on the future of immersive navigation, the team's hurdles and more. [The Wall Street Journal]
A visual breakdown of the stock market's winners—and losers—of 2022. [Visual Capitalist]
Many asset managers are preparing for a tough slog through 2023. [Financial Times] | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 341 Deals | 2402 People | 501 Companies | 12 Funds | | | | | | |
| |
| |
| |
| |
| |
| 2013 Vintage Global PE Funds | | | | | | |
| |
| |
| |
| Money View rises to $900M valuation | | | India-based fintech startup Money View has closed a $75 million Series E round, bringing its valuation to $900 million, according to reports. Apis Partners led the round. Money View was founded in 2014. | | | | | | | | | Fintech company Akulaku has secured a $200 million investment from the Mitsubishi UFJ Financial Group. The startup is based in Jakarta and offers services like virtual credit cards and an investment platform. | | | | | | | Apnimed extends Series C to $142M+ | | | Specializing in treatments for sleep disorders, Apnimed has closed a $79.75 million Series C extension, bringing the round's total to $142.25 million. Alpha Wave Ventures led the extension round for the Massachusetts-based company. | | | | | | | Liberation Labs pulls in $20M seed funding | | | | | | | | Motion G nets $15M for engineering SaaS | | | Motion G, an engineering R&D software startup based in Singapore, has raised $15 million in seed funding led by New Wheel Capital. | | | | | |
| |
| 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. | | | | | | | |
| |
| |
| OTPP backs National Auto Care acquisition | | | | | | | | Sterling platform adds on Florida fencing supplier | | | | | | | | Platform Partners invests in lab testing company | | | Platform Partners has invested in Texas-based Principle Health Systems, a laboratory services company that also operates pain management clinics. Principle's founder will continue to run the business and will retain his majority stake. | | | | | | | DW Healthcare stakes education company | | | | | | |
| |
| |
| Blackstone to sell pipeline stake for $1B+ | | | | | | |
| |
| |
| UC Investments commits $4B to Blackstone REIT | | | | | | | | Fidelity slashes its Twitter valuation by 56% | | | Fidelity has valued its stake in Twitter at $8.63 million, down 56% since it invested in Elon Musk's $44 billion takeover of the social media company. The firm's Blue Chip Growth Fund previously valued the stake at $19.66 million. | | | | | |
| |
| |
"Since recently peaking at 68.6% in 2018, the middle market's share of total PE buyout value has drifted lower ... This erosion in share reflects the explosive growth in mega-funds, which have swelled from 31.3% of new funds raised to 53.1% during the same four-year span, all at the expense of middle-market funds and smaller funds."
Source: PitchBook's Q3 2022 US PE Middle Market Report | | | | | |
| |
No comments:
Post a Comment