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| In today's Daily Pitch, you'll find: | | | | | |
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| 7 predictions for US VC in 2024 | | PitchBook analysts see moderate improvements on the horizon for the VC ecosystem on the back of economic strength and signals of easing rates. Dive into our 2024 US Venture Capital Outlook to discover why. - Based on PitchBook fund distribution data, venture fundraising is expected to increase slightly over 2023, yet continue to fall short of recent years.
- Startups' existing investors will maintain their amped-up role in leading deals. We expect outsiders to offer some relief as nontraditional investors reenter the asset class.
- The number of unicorn companies and their collective valuation is set to decline as more are forced to raise capital.
| | | | | | | | | 2024 in healthcare: GenAI, value-based care consolidation, surgical robots | | Burned by cost inflation and negative reimbursement trends, US health systems are beleaguered. At the same time, healthcare investors have been spooked by some high-profile failed bets in biopharma. Our 2024 Healthcare Outlook predicts that both forces will have a depressing effect on healthcare deals in both VC and PE—with the possible exception of dealmaking for AI and anti-obesity drug companies.
No matter what happens, it's guaranteed not to be a dull year. Generative AI is set to disrupt fields from employee benefits to drug discovery, and surgical robots are poised for major funding upswings. | | | | | | | |
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| 2024 PitchBook Media Kit released | | Volatility is on the rise, everywhere. Dealmakers are looking for insights, services and tools to navigate challenging, complex market environments—and you can help them. By partnering with PitchBook Media, you can reach over two million industry professionals spanning the C-suite to flagship GP offices. Customize a unique array of options from the brand-new 2024 PitchBook Media Kit, including: - Sponsorship of market-leading reports such as the PitchBook-NVCA Venture Monitor
- Placement in the most widely read industry newsletters such as the Weekend or Credit Pitch
- Sponsored columns to share your specific message or thought leadership
- Bespoke research options for unique, in-depth analysis
Talk to us | | | | | | | |
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| Figma investor: Busted $20B Adobe deal will 'chill startup M&A' | |  | Figma CEO and co-founder Dylan Field
(Kimberly White/Getty Image) | | | Adobe's $20 billion deal to buy Figma collapsed yesterday due to regulatory roadblocks. This will cast a shadow over future deals that have the potential to attract scrutiny from anticompetition regulators in an already-depressed VC exit market, according to Avichal Garg, an angel investor in Figma's 2018 Series B.
It would have been the largest acquisition of a venture-backed company ever, promising a major windfall for Figma's investors, among them Index Ventures, Greylock Partners, Kleiner Perkins and Sequoia. | | | | | | | | | Closing time: Last call coming later and later for private funds | | There are clear winners and losers in the competition to raise capital for investing in the private markets. New capital for VC and real assets plummeted in the 12 months ending in Q3, while PE secondaries was the only strategy to raise more money, not less.
In this less-than-generous environment, our Global Private Market Fundraising Report captures the story of which strategies are thriving and which are out of favor. Plus, our senior strategist has a message for GPs in the thick of raising new funds: Be patient. | | | | | | | | | Enterprise SaaS funding hits lowest point in 5 years | | Enterprise SaaS venture investment in Q3 was weaker than our analysts expected at $6.6 billion after breaking a streak in declines in Q2 with a positive turn to $9.2 billion. The number of deals made a meaningful drop to 324 after holding steady at around 400 per quarter since Q4 2022.
Our recent Emerging Tech Research explores a new area of interest to investors: composable applications. This modular design allows a company's product to be packaged as part of a suite of software solutions, a desirable setup for customers. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 588 Deals | 1914 People | 607 Companies | 32 Funds | | | | | | |
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| A message from Apex Group | | |
The Growth and Evolution of Private Markets—Research Report | | The finance industry is undergoing a significant transformation. Several major trends are reshaping the space and opening new possibilities for investors and companies.
Get ahead of the trends with Apex's latest insights report, supported by PitchBook data. Apex experts explore how these new dynamics will impact investors and the market, giving you the facts, and insights, you need to navigate challenges and opportunities for your firm.
What insights can you expect from the report? - Exploring fundraising challenges
- Ways to unlock opportunities
- Trends in changing investor bases
- ESG, fintech and new asset classes
- Practical takeaways for fund management
- Data insights from the numbers
To find out more, download the Apex Research report on the Apex Group website here. | | | | | | | |
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The Daily Benchmark:
2015 Vintage Global VC Funds | | | | | | |
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Clearlake Capital Group and Insight Partners acquired NYSE-listed software company Alteryx for $4.4 billion.
IBM agreed to buy data integration companies StreamSets and WebMethods for €2.13 billion in cash. Both businesses are owned by Software AG, a portfolio company of Silver Lake.
UK-based energy retailer Octopus Energy raised $800 million at a $7.8 billion valuation, including $326 million from the Canada Pension Plan Investment Board and $305 million from Origin Energy, the Financial Times reported.
Pacific Equity Partners invested $250 million in Australian electric vehicle charging company EVSE, the Australian Financial Review reported.
Guam-based broadband, wireless and cable landing provider GTA secured a $200 million strategic growth investment from Stonepeak.
Thoma Bravo will make a strategic growth investment in BlueMatrix, a content creator and distributor for investment research.
Yellow Wood Partners made a binding offer to acquire the Elida Beauty brand portfolio—which includes Q-tips, Caress, Timotei, Alberto Balsam and VO5—from Unilever.
London-based LDC backed the management buyout of B2B telephone answering company Message Direct.
Octavius Infrastructure, a transport infrastructure provider backed by Sullivan Street Partners, acquired specialist rail consultant Navitas Engineering Group.
Norwegian PE firm Verdane is taking stakes in media monitoring startup Meltwater and HR company Jobylon via an investment in Fountain Venture, an investment vehicle controlled by Meltwater founder Jørn Lyseggen. | | | | | |
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Jadwa, a PE firm based in Saudi Arabia, has plans to raise up to 2 billion riyals (about $530 million) for a new fund, Bloomberg reported.
Argonaut Private Equity, an Oklahoma-based buyout firm that invests in industrial businesses, has raised $500 million for its fifth namesake fund, the Wall Street Journal reported.
Turnspire Capital Partners, which primarily invests in lower-middle-market industrial and consumer businesses, has closed Fund II on $275 million.
Dutch early-stage VC firm Revo Capital is looking to raise $100 million for a new fund, Bloomberg reported. The vehicle will target AI-driven startups in Turkey and Central and Eastern Europe. | | | | | |
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