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| In today's Daily Pitch, you'll find: | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 545 Deals | 2159 People | 689 Companies | 21 Funds | | | | | | |
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| How generative AI will impact ecommerce | | The ecommerce industry is facing headwinds. Continued deceleration in deal activity saw total deal count plummet 57% in Q1 2023 compared to the previous quarter, while deal value declined 11%, according to our latest E-Commerce Report.
Some VCs are betting on generative AI to be a game changer. From startups beginning to integrate AI into their applications to companies creating their own tools to court customers, ecommerce investors still have plenty of opportunities in the space. | | | | | | | | | Inside Sam Altman's VC portfolio | |  | OpenAI CEO and founder Sam Altman
(Jason Redmond/AFP/Getty Images) | | | For more than a decade, OpenAI CEO and founder Sam Altman has been gathering an increasing number of startup stakes as an angel investor.
AI, healthcare and software are just some of the areas in which Altman has been taking bets on future technology. | | | | | | | | | Datadog-backer RTP Global closes $1B fund by reinvesting its own wins | |  | | (Rafael Henrique/Getty Images) | | | RTP Global has closed its fourth fund on $1 billion, a more than 50% step-up from its previous vehicle. Unlike many other VC firms, the early backer of Datadog didn't have to convince its LPs to commit more capital.
Founded in 2000, the firm has few outside backers and instead uses proceeds from its wins to reinvest in its future investments. | | | | | | | | | Tech advances unlock a new way of understanding cells | | Advances in computational biology and increases in computing power are unlocking novel methods of observing cellular function that will offer new strategies for preventing and treating various diseases.
Our latest emerging space brief explores the ins and outs of spatial biology—a quickly growing field within molecular biology in which researchers analyze cells in their natural environments rather than deconstructed tissue samples. Explore VC trends, the market's outlook, startups to watch and more. | | | | | | | | | Survey: Strong deals abound for impact investors | |  | | (HelloRF Zcool/Shutterstock) | | | Impact investors are finding it easier to source deals.
In 2018, 65% of respondents to a Global Impact Investor Network survey of 308 global impact investors said they found it challenging to find strong deals to meet their needs. In 2023, that percentage fell to 26%. | | | | | | | | | | PE firms have been targeting larger, more stable companies in private credit deals. [Financial Times]
A survey points to challenges PE-backed businesses face in filling key finance positions and meeting the goals of their owners. [The Wall Street Journal]
Why many ultra-processed foods are unhealthy. [The Washington Post] | | | | | |
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The Daily Benchmark:
2013 Vintage Global Secondaries Funds | | | | | | |
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Cyera, a data security startup, has raised a $100 million Series B led by Accel and joined by investors including Sequoia and Redpoint Ventures.
Redpanda, which offers a streaming data platform for developers, has raised a $100 million Series C led by Lightspeed and joined by GV and Haystack VC.
Augmedics, which develops AR technology for use in spine surgery, has raised an $82.5 million Series D led by CPMG.
Ecommerce startup Cart.com has raised $60 million at a $1.2 billion valuation in a Series C backed from investors including B. Riley Venture Capital, Snowflake Ventures and Prosperity7 Ventures.
Web3 gaming startup Mythical Games has raised $37 million for its Series C1 led by Scytale Digital and joined by backers including Andreessen Horowitz, Animoca Brands and Gaingels.
Dexory, a London-based provider of autonomous warehouse robotics, has secured a $19 million Series A led by Atomico.
AdBio Partners has led a €16.5 million seed investment in Astraveus, which operates a microfluidic cell and gene therapy manufacturing platform.
Helsinki-based quantum computing startup Algorithmiq has secured a $15 million Series A led by Inventure VC. | | | | | |
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NYSE-listed annuities provider American Equity has received a takeover offer from existing shareholder Brookfield Reinsurance, a unit of Brookfield Asset Management. The deal would value the company at $4.3 billion, Reuters reported.
KKR and NYSE-listed industrial machinery maker Circor have reached a buyout deal of $1.7 billion including debt.
Martin Franklin, the CEO and largest shareholder of Whole Earth Brands, has offered a $169 million buyout deal for the NASDAQ-listed consumer food company.
General Atlantic has invested about $150 million in Odoo, which provides software for small and medium-sized businesses.
Creador has bought a 40% stake in Malaysian pet foods manufacturer Pet World, Reuters reported. The company was previously reported to be planning an IPO in Singapore. | | | | | |
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Warsaw-based Inovo VC has closed its third fund on €105 million. The fund is targeting up to 30 primarily seed-stage startups in Central and Eastern Europe
EQT is extending the deadline for its latest fund, which is targeting €20 billion, from August to February, Bloomberg reported.
Octopus Investments has launched a £40 million fund to back pre-seed deep-tech startups in the UK and Europe.
UK-based River Capital has launched a £10 million fund with a cornerstone investment from its parent company MSIF. | | | | | |
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