| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| PitchBook Universities: Top 100 colleges ranked by startup founders | |  | | (Joey Schaffer/PitchBook News) | | | PitchBook's annual university rankings are back for 2023. Our list compares schools by tallying up the number of alumni entrepreneurs who have raised venture capital in the past 10 years. - Stanford is No. 1 overall in the undergraduate and graduate rankings. For undergraduate alumni, UC Berkeley trails at No. 2 by just two founders.
- Harvard's MBA program is far and away the top school for founders with business degrees—its 1,691-alumni founder count is 55% more than No. 2 Stanford.
- In Europe, Oxford and Cambridge are neck and neck: Oxford is No. 1 for undergraduate alumni, but Cambridge takes the top spot among graduate school alumni.
| | | | | | | | | A changing environment for capital call lines | | Fund managers often tout the benefits of capital call lines, a common bridge financing tool used by private capital funds. But skeptics argue these lending facilities artificially inflate a fund's paper return—and a turn in the interest rate cycle, coupled with a pullback in bank lending, has negated some of this tool's advantages.
Our latest analyst note covers how capital call lines impact fund performance, the costs and risks associated with these facilities, and how tighter credit conditions have altered their use by GPs. | | | | | | | |
| |
| |
| Is the exit slump coming to an end? | | After the exit boom just a couple years ago, exit activity has slowed substantially for expansion-stage companies. Just 441 exits were completed in the first half of 2023 relative to 1,246 in 2022 overall. However, this state of affairs may be shifting. Deloitte’s latest edition of the Road to Next series explores exit trends in depth, with highlights including: - Analysis of key exit metrics such as median exit sizes and valuations in the context of decreased volume
- Insights from Deloitte stakeholders regarding the prospect of the exit window reopening
- Datasets associated with exit readiness, such as tallies of capital raised prior to exit, ages of companies currently exiting, and more
Read it now | | | | | | | |
| |
| Reporter's Notebook: Gen AI offers hope at SaaStr | |  | David Sacks (left), founder and general partner of Craft Ventures, and Jason Lemkin, founder and CEO of SaaStr
(Michael O'Donnell Photography) | | | Last week in San Mateo, the sun shined brightly and a DJ blasted upbeat electronic music at the entrance to SaaStr, the world's largest annual SaaS-focused conference. But the mood at the conference seemed more tempered.
Investors differed on whether we're in a software "recession" or witnessing a "SaaS-acre." Luckily, generative AI gave conference attendees a reason for optimism as investors rapidly raise the bar for funding software companies. | | | | | | | | | Brookfield, Societe Generale to launch $10.8B private credit fund | |  | | (Chesnot/Getty Images) | | | Private credit is often touted as a major threat to traditional debt financing and the banks that facilitate it. But is that about to change?
Societe Generale, one of France's largest banks, announced it is teaming up with Brookfield Asset Management to launch a new private credit fund, which it says will offer something unique to the market. | | | | | | | | | Epiris' Big Table to be paid $9.4M to take on loss-making restaurant brands | |  | | (Nathan Stirk/Getty Images) | | | Epiris-backed Big Table Group has agreed to acquire The Restaurant Group's Frankie & Benny's and Chiquito brands for £1, with the seller paying an additional £7.5 million (about $9.4 million) to offload the loss-making chains.
The hospitality sector was in trouble during the pandemic and a recent report suggests current economic conditions are also impacting the sector. | | | | | | | | | Startups push the boundaries of neurotechnology | | From visualizing brain activity to treatments for neurological disorders like Parkinson's disease, neurotechnology has transformed our understanding of the human brain. And startups working at the forefront of the sector promise further advancements in healthcare and human-machine interfaces.
Our recent Emerging Space Brief details recent deal activity for neurotechnology startups, the market's outlook, key players to watch in the space and more. | | | | | | | | | | Tesla and China risk leaving Volkswagen on a road to nowhere. [Bloomberg]
A visual breakdown of which electricity sources power the world. [Visual Capitalist]
Can Singapore hold on to its reputation as Asia's "safe haven"? [Financial Times] | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 502 Deals | 2514 People | 630 Companies | 25 Funds | | | | | | |
| |
The Daily Benchmark:
2012 Vintage European PE Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| Don't miss our upcoming webinar | | J. Thelander Consulting and PitchBook will explore how compensation at investment firms has changed in recent years. Across a range of positions from managing general partners to entry-level analysts, our experts—including Jody Thelander—will discuss base salaries and bonuses, along with the best practices for fund structure, including fund formation and carried interest.
Register to secure your spot. | | | | | | | |
| |
| |
| |
| |
| |
| |
| Adamantem Capital is putting Australian electrical and industrial distribution company Legend up for sale just four years after taking the company private, the Australian Financial Review reported. | | | | | |
| |
| |
Fund-of-funds Cendana Capital has raised $470 million across multiple new vehicles, TechCrunch reported. Most of the capital will be used to back seed-stage fund managers.
Biotech-focused Sofinnova Venture Partners has closed its 11th flagship fund on $500 million, according to SEC filings. | | | | | |
| |
| |
"The average deal size so far in 2023 is £120.3 million, half the average deal size in 2022 and hitting a seven-year low. The smaller deal structure is highly characteristic of add-ons, which tend to be popular in periods of market uncertainty."
Source: PitchBook's 2023 UK Private Capital Breakdown | | | | | |
| |
No comments:
Post a Comment