VCs dream of more-human robots

Charting a leveraged loan repricing wave; where do PE deals go from here?; is a VC recovery on the horizon for Europe?

Read online | Don't want to receive these emails? Manage your subscription. Log in The Daily Pitch: VC, PE and M&A January 16, 2024 The Daily Pitch is powered by PitchBook's industry-defining research and best-in-class data In today's Daily Pitch, you'll find: Our latest Emerging Space Brief dives into VC opportunities in humanoid robotics Sluggish dealmaking in 2023 puts pressure on PE firms to get deals done this year European VCs expect a recovery to start in 2024   Today's Top Stories   VCs dream of more-human robots The future of startups specializing in robots that mimic human appearance and behavior may not be as far away as you think. Our latest Emerging Space Brief dives into the humanoid robotics sector, providing an overview of its current shape and the potential VC opportunities. read it now   Share: With optimism rising, borrowers of riskier loans rush to reprice (Lyubimova Tatiana/Shutterstock) Issuers of riskier debt are taking advantage of improved market sentiment to slash borrowing costs—often on deals originally placed less than a year ago. So far this month, leveraged loan repricings already exceed all monthly levels since February 2021, and market conditions suggest the repricing wave will continue. read more Share:   A message from Citizens   2024 M&A confidence is on the rise, but what's fueling that trend? In the Citizens 2024 M&A Outlook survey, middle-market decision-makers shared that—despite some lingering imbalances—optimism shines bright. Read why industry leaders, especially potential buyers, are enthusiastic about 2024 and learn about some of the unexpected factors at play. Explore the 2024 M&A Outlook survey Share:   PE deals plummeted in 2023—here's why it won't happen again in 2024 (Diane Miller/Getty Images) PE dealmaking plummeted in 2023 as higher interest rates upped the cost of leverage and clouded exit avenues made it challenging for managers to meet LP distributions. To fuel a reboot in deal and exit activity and ultimately return capital to LPs, buyers and sellers of PE assets will have to come to an agreement on pricing in 2024. read more   Share: A VC recovery on the horizon? (Tetra Images/Getty Images) After a challenging 2023, Europe's VC market is expected to pick up this year as investors believe the worst of the downturn has passed. Check out these predictions from VCs active in Europe to see what's in store for the region's startups. read more   Share:   Since yesterday, the PitchBook Platform added: 480 Deals 1902 People 494 Companies 14 Funds See what our data software can do   The Daily Benchmark: 2011 Vintage Global VC Funds with more than $250M Median IRR 17.10% Top Quartile IRR 21.45% 1.64x Median DPI Select top performers Menlo Ventures XI Sofinnova Ventures VIII Index Ventures Growth II *IRR: net of fees 14 Funds in Benchmark » Check out the latest version of PitchBook Benchmarks   People   CVC Capital Partners' managing director in Mumbai, Mohit Goyal, is leaving the company, Bloomberg reported. Goyal was one of CVC's first hires in India. Clayton, Dubilier & Rice has hired Dave Lewis, former CEO of UK supermarket giant Tesco, as an operating adviser to help source deals and support its portfolio investments across Europe. UK mid-market PE firm Livingbridge has appointed Bevan Duncan as partner. Duncan rejoined Livingbridge last year after spending time as managing director of Gresham House's strategic equity division.   VC Deals   Dutch solar energy startup Soly has secured €30 million in a round led by ArcTern Ventures. Tune.fm, a web3 decentralized music streaming platform and music NFT marketplace, has received $20 million from LDA Capital. Octopus Ventures has led a £7.6 million investment in UK-based biotech startup CellVoyant. London-based business onboarding intelligence platform Detected has raised €2.2 million from investors including Thomson Reuters Ventures and Love 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. Share:   PE Deals   EQT and KKR are among the potential suitors for a $5 billion takeover of Broadcom's end-user computing business that it acquired following its takeover of VMware, Bloomberg reported. Thoma Bravo has also been looking at a potential bid. Italian firm Style Capital is looking to acquire luxury fashion brand holding company New Guards Group, Women's Wear Daily reported. Keystone Agency Partners, a Pennsylvania-based insurance brokerage platform backed by Flexpoint Ford, has acquired insurance price comparison service LifeQuotes. The deal marks KAP's 20th platform acquisition.   Exits & IPOs   CVC Capital Partners has agreed to acquire Italian quick-service restaurant chain La Piadineria from Permira. Reuters reports that the deal, which comes via CVC Fund VIII, is worth €600 million.   Fundraising   London-based Thema has launched a fund of funds targeting first-time VC managers in Europe. The firm plans to commit to four funds annually for the next three years.   Investors   General Atlantic has agreed to acquire UK-based infrastructure investor Actis. The deal will expand the firm's assets under management to around $96 billion.   Chart of the Day   Source: 2023 DACH Private Capital Breakdown   Who's in the newsletter today? People Bevan Duncan Dave Lewis Mohit Goyal Investors Actis ArcTern Ventures CVC Capital Partners Clayton, Dubilier & Rice EQT Flexpoint Ford General Atlantic KKR Keystone Agency Partners LDA Capital Livingbridge Love Ventures Octopus Ventures Permira Style Capital Thema Thoma Bravo Thomson Reuters Ventures Companies Broadcom CellVoyant Detected La Piadineria LifeQuotes New Guards Group Soly Tune.fm VMware     About PitchBook | Terms of use | Advertise with us | Contact Follow us: This email was sent to edwardlorilla1986.paxforex@blogger.com via the PitchBook Platform. 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