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| In today's Daily Pitch, you'll find: | | | | | |
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| North American GPs look East for fundraising oasis | |  | | (siriwat sriphojaroen/Shutterstock) | | | | In the face of a crowded fundraising market, a handful of GPs in North America are hoping to tap into the Asia-Pacific market for fresh capital, attracted by the region's growing wealth and Asian LPs' newfound interest in the middle market. | | | | | | | | | As exits slow, US PE is headed for a $360B pileup | | Fund commitment tallies are lower and debt's been harder to access, but the exit shortfall has been perhaps the greatest challenge to the US private equity industry in 2023. PE firms will soon be grappling with a backlog of maturing investments, weighing on fund performance and reducing distributions to LPs.
Our latest analyst note illustrates the scope of the exit shortfall and discusses the creative measures that some GPs will need to take as they hold on to aging assets. | | | | | | | |
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| 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.
Click here to download it today or to speak to someone on the media team. | | | | | | | |
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| North American climate startups grab global VC favor | |  | | (Galyna Andrushko/Shutterstock) | | | The Inflation Reduction Act passed in the US has bolstered climate-tech investment in North America, helping the continent capture a majority of global deal value in the sector this year.
"The industry mobilized pretty quickly," said Ben Wolkon, a partner at MUUS Climate Partners, a climate-focused VC firm. | | | | | | | | | VC fundraising, AI were key at one of Europe's largest tech conferences | | The 2023 VivaTech conference in Paris drew more than 150,000 attendees together to discuss LP commitments, the future of generative AI and the current exit scarcity. The consensus is that GP track records remain a critical factor for VC fundraising, and our latest analyst note delves into this and more from the event. - Overall sentiment was positive on the possibilities of AI and the impact it can have on society.
- Lower growth rates, scarcer capital and the muted exit market are forcing GPs and portfolio companies to extend runways.
- Investors reiterated that capital is available, but securing it quickly is more difficult for founders.
| | | | | | | | | A new returns index for private asset allocators | | Capital allocation can be a risky business. PitchBook's new Q4 2022 Private Capital Indexes report offers return, risk and other reference metrics across each of the seven private asset classes and serves as a companion to our Benchmarks and Global Fund Performance reports.
Our inaugural report offers a cross-section of the private markets across geographies, quartile rankings, time period and subclasses. These yardsticks can be used by GPs and allocators to compare asset class performance or construct a well-balanced portfolio. | | | | | | | | | Track private markets with these tools | | We have a new home for data and tools to help you understand the state of private markets. - Market indicators and indexes that approximate the investor-friendliness of VC deals and PE performance, as well as track the performance of unicorns and PE- and VC-backed IPOs.
- Dashboards that cover female founders, unicorn companies, SoftBank's Vision Funds and public PE firms.
- Leaderboards that rank the most active lenders and investors, as well as rankings of universities by startup founder alumni.
| | | | | | | | | | The IPO window has cracked open and private equity is moving in. [The Wall Street Journal]
AI companies are on the hunt for San Francisco offices. [Bloomberg]
Can China charm its way out of geopolitical tensions with the US? [Financial Times] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 8 Deals | 46 People | 23 Companies | | | | | | |
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The Daily Benchmark:
2018 Vintage North American Debt Funds | | | | | | |
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Runway, a generative AI startup specializing in creative tools, has raised a $141 million Series C with backing from investors including Nvidia, Salesforce Ventures and Google.
Seoul-based Alwayz has raised a $46 million Series B led by DST Global for its shopping app, TechCrunch reported.
Risk and compliance startup Unit21 has announced the $45 million Series C it raised in 2022 led by Tiger Global and South Park Commons.
GeologicAI has raised a $20 million Series A from Breakthrough Energy Ventures. The company scans rock samples for digital analysis.
Woodio, a Finnish biomaterial technology startup, has secured €16.3 million in a round led by United Bankers' Forest Industry Green Growth Fund and the European Innovation Council.
Causely, which offers an AI platform for IT professionals, has raised $8.8 million in seed funding led by 645 Ventures.
Nokod Security has secured $8 million in seed funding from investors including Acrew Capital, Meron Capital and Flint Capital. The Israeli company offers an application security platform.
Voice.ai, a startup that allows users to change their voices using AI, has secured $6 million led by Mucker Capital and M13, TechCrunch reported.
ID verification startup Outdid, has raised a $2.5 million seed round led by Jump Crypto.
UK-based computer vision specialist Robok has raised $2.1 million in a round led by Cambridge Enterprise. | | | | | |
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PE firm Altas Partners has closed its third fund on $4 billion, Buyouts Insider reported.
Varsity Healthcare Partners has closed its fourth fund on $700 million. The vehicle targets growth investments in lower-middle-market healthcare services companies. | | | | | |
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