| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| Coinbase leads VC retreat from crypto dealmaking | |  | | (Andriy Onufriyenko/Getty Images) | | | Burned by high-profile bankruptcies including FTX and BlockFi, crypto investors have pared down their dealmaking pace several-fold since the banner year of 2021.
Coinbase Ventures, for example, made 64 fewer investments in H2 2023 than in H2 2021. They're redirecting much of that unused dry powder to increase ownership shares in existing companies.
Others, including 10T Holdings, are buying secondary shares in blockchain companies on the cheap. | | | | | | | | | Taking ridehailing to the next level | | Do you remember the world before Uber and Lyft? From last-mile delivery to freight, the world of mobility tech has undergone transformative shifts just in the years since the early aughts.
Just as ridehailing companies turned the industry on its head in the 2010s, innovations to minimize jet fuel's carbon footprint and maximize EV battery effectiveness are set to boom as the world moves away from fossil fuels.
Along the way, we'll see self-driving startups zero in on trucking and rail use and an EV export tsunami from China, according to our latest Mobility Tech Overview, which dives into what's ahead for 11 sectors. | | | | | | | |
| |
| |
| AI adoption trends in financial management | | Citizens recently surveyed over 200 financial leaders at mid-size companies and private equity firms to discover the impact of AI on their financial management. Survey findings include: - PE firms are adopting AI more quickly than mid-sized businesses
- CFOs are responsible for driving widespread AI implementation
- Though adoption is increasing, leaders are still concerned about legal and ethical risks
Insights from these responses provide actions to consider for your company as this transformative AI technology continues to evolve.
Get the survey findings | | | | | | | |
| |
| Obesity drug market's future in focus | |  | | (Monster Ztudio/Shutterstock) | | | PitchBook senior analyst Kazi Helal reports from JP Morgan's healthcare conference in San Francisco, where three approaches emerged for the next phase of the obesity drug market: - Building on the GLP-1 drug market by focusing on medications that treat side effects like muscle or bone loss and skin aesthetics—which, while not ideal medically, are favored by investors and M&A in the short term
- The evolution of GLP-1 2.0, exemplified by MBX Biosciences, which aims to enhance existing biology through improved dosage and user-friendliness
- Entirely new approaches, as demonstrated by Rivus Pharma, which is experimenting with metabolic accelerators competing with energy-intake GLP-1 drugs
| | | | | | | | | Mapping France's muted VC ecosystem | |  | | (SCStock/Getty Images) | | | In 2023, VC dealmaking in France came in significantly below 2022's figures, but the country's declines were more muted than those of its peers, including the UK.
Check out our snapshot of the French market to see how the country fared across venture dealmaking, fundraising and exits. | | | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 458 Deals | 1726 People | 501 Companies | 28 Funds | | | | | | |
| |
The Daily Benchmark:
2018 Vintage European Debt Funds | | | | | | |
| |
| |
Genomics raised £35 million led by F-Prime Capital and Foresight Partners, the Financial Times reported. The UK-based startup focuses on predicting and preventing common diseases by analyzing gene variations.
Vortexa, which offers an analytics platform for energy and freight, raised a $34 million Series C led by Morgan Stanley Expansion Capital.
Recurrent, an electric vehicle battery data company, raised a $16 million Series A led by ArcTern Ventures.
Imbed Biosciences, a tissue engineering company, raised $10 million in convertible debt with participation from Niterra.
Plant-based meat company Mush Foods raised a $6.2 million seed round led by Viola Ventures, Axios reported.
Singapore-based fintech startup Fynxt closed a $5 million Series A.
New York-based acupuncture company Wthn secured a $5 million Series A led by L Catterton.
Cleva, the San Francisco-based provider of a banking platform for emerging markets, raised $1.5 million led by 1984 Ventures. | | | | | |
| |
| Don't miss our upcoming webinar | | Join our analysts as they recap the biggest 2023 trends in European PE and VC and help you get prepared for 2024. Whether you're interested in dealmaking considerations, exit market conditions, potential risks ahead or updates on raised capital, our experts will help you win what's next.
Register now to secure your spot. | | | | | | | |
| |
| |
Bain Capital's takeover of SoftwareOne may come to a standstill after the Swiss software provider signaled to Bain that its latest offer falls short of winning approval from the company's board, Bloomberg reported. Bain's revised offer of almost 3 billion Swiss francs (about $3.5 billion) marks the latest twist in a monthslong bidding process.
McIntyre Partners agreed to buy Norwegian offshore engineering specialist Moreld from HitecVision.
CVC Capital Partners is in talks to buy Gruppo La Piadineria from Permira in a deal that could value the Italian restaurant chain at more than $300 million, Il Sole 24 Ore reported. Permira acquired La Piadineria in 2018.
Thoma Bravo invested in BlueMatrix, an investment research publisher. Golub Capital provided debt financing for the deal. | | | | | |
| |
| |
| |
| |
| |
Joshua Kushner's VC firm Thrive Capital is in early talks to raise at least $3 billion from investors for a new fund, the Financial Times reported. The firm has backed payment giant Stripe and generative AI leader OpenAI.
Blackstone has raised $1.3 billion for a private equity fund backed by individual investors called BXPE, according to a regulatory filing.
VC firm Venrock has closed its tenth fund with $650 million, Fortune reported. The new vehicle is a significant step up from Venrock's last fund, which raised $450 million in 2021. | | | | | |
| |
| |
| Coatue is closing its London office just two years after opening it as the firm reorganizes its VC strategy, according to reports. | | | | | |
| |
| |
| |
| |
No comments:
Post a Comment