Wednesday, July 5, 2023

How alternative meat fits into foodtech

Which VC inked the most Europe deals?; VC's age of Ozempic; PE invites in private wealth
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The Daily Pitch: VC, PE and M&A
July 5, 2023
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Today's Top Stories  
Market Map: Foodtech serves up big ideas as deals shrink
(Courtesy of Upside Foods)
From lab-grown chicken to woolly mammoth meatballs, there have been several mouthwatering breakthroughs in the foodtech industry in recent months.

Our latest market map explores the alternative proteins segment, which has been bolstered by the US Department of Agriculture granting Upside Foods and Good Meat approval to sell lab-grown meat to the public.
explore the map
 
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SFC Capital emerges as most active VC in H1 European deals
(VAKS-Stock Agency/Shutterstock)
SFC Capital has participated in the most European venture rounds so far in 2023, while dealmaking on the whole remains subdued.

Antler, Kima Ventures and the European Innovation Council are among other VC firms that have been particularly active this year.
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A message from PitchBook  
PitchBook's 2023 Media Kit released
With uncertainty across the private and public markets likely to continue, strong and insightful thought leadership is critical to your clients and prospects.

By partnering with PitchBook Media, you will have daily opportunities to reach 1.5M+ industry professionals in our newsletter, and you can broaden exposure of your brand through our core industry reports. We also help clients create custom research to share data-driven insights on the market.

Our 2023 Media Kit contains all the details to help your firm position itself in front of a VC or PE audience.

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Are we in the age of Ozempic?
Drugs used for weight loss, like Wegovy, Ozempic and Mounjaro, have exploded onto the digital health scene—and companies and investors are looking to cash in. But behind the glossy ads, the drugs come with potential side effects, patient risks and high price tags.

Is this VC's latest fad or a lasting transformation in healthcare? Our Q1 2023 Digital Health Report digs deep into this trend and others in a precarious time for an industry where exits have nearly come to a standstill.
read the preview
 
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How PE is paving the way for private wealth
(Joey Schaffer/PitchBook News)
Wealth managers and private banks serving high-net-worth individuals have been increasing their allocations to private equity. At the same time, GPs are looking for additional sources of capital as institutional investors dial back their overexposure to the private markets.

Retail investing platforms, curated investments and semi-liquid funds are some of the ways these players are paving the road into PE for private wealth.
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Recommended Reads
How lithium scarcity is pushing carmakers into the mining business. [The New York Times]

Brought on by storms and flooding, California's Tulare Lake has reappeared and swallowed up hundreds of acres of fields, homes and roads. [The Guardian]

Masayoshi Son spent $140 billion on AI with little to show. Now he is trying again. [The Wall Street Journal]
 
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The Daily Benchmark:
2019 Vintage Global VC Funds
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Top Quartile IRR
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Select top performers
Flexcap Fund I
Grayscale STRIVE Fund 2
Creandum V
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Check out the latest version of PitchBook Benchmarks
 
VC Deals  
VSParticle, a Dutch developer of nanoparticle printing tools, has raised €14.5 million in a round led by Plural.

London-based AI video generation startup Immersive Fox has closed a €3.3 million seed round from investors including Redseed, Monte Carlo Capital and Altair.
 
PE Deals  
Industrifonden has invested 28 million Swedish kronor (around $2.6 million) in Treebula, a Swedish company that offers a digital marketplace for timber trading.
 
Exit & IPOs  
Electric vehicle manufacturer Arrival and blank check company Kensington Capital Acquisition Corp. V have terminated their planned merger. Arrival went public in 2021 through a SPAC deal with CIIG Merger Corp.
 
Fundraising  
Muzinich & Co has held a $500 million first close on its first Asia credit fund, Bloomberg reported.

NextEnergy Capital has held a $480 million first close on its fifth fund, NextPower V ESG, with commitments from KLP. The fund is looking to raise of $1.5 billion with a $2 billion hard cap.

UK early-stage media technology investor GMG Ventures—which has rebranded as Mecuri—has raised £50 million for its second fund, TechCrunch reported.
 
Chart of the Day  
Source: PitchBook's Q1 2023 US PE Middle Market Report
 
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