| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| Charting the next hot thing in VC | | AI might be the hot-button topic of today, but what about in a year from now? Our latest quantitative report debuts a new series: VC Emerging Opportunities.
Our analysis covers everything from SaaS to gaming to climate tech—and includes our proprietary predictions on future returns on investment. Using PitchBook's VC Exit Predictor, our quantitative team charts the course of the next generation of startups and calculates payout expectations for early investors. | | | | | | | | | Public PE firms ride rising tide of private credit | |  | | (Peathegee Inc/Getty Images) | | | The largest public PE firms are taking advantage of private credit's good fortune. Private credit portfolios held by KKR, Blackstone, Apollo Global Management, Ares Management, The Carlyle Group, Blue Owl and TPG posted a collective median gross return of 16.4% in 2023, significantly higher than the 9.8% gain achieved by their PE strategies.
"Institutional investor focus has pivoted to asset classes that offer current income, inflation protection and access to areas of secular growth—namely credit, infrastructure and sustainability," said Apollo co-president Scott Kleinman during the firm's Q4 earnings call. | | | | | | | |
| |
| |
Growth equity deal sourcing guide:
3 best practices for today's market | | Growth equity firms face a unique opportunity this year. Deal volume is on the rebound and the future is looking bright. Why? Many of the most viable startups held off fundraising during the low valuation market of 2022-2023, but will soon need to secure additional capital.
It's time to ensure your firm is ready for this uptick in high quality deals. Get your copy of Affinity's deal sourcing guide for growth equity to learn best practices on using data strategically, managing deals more efficiently, and nurturing relationships to be first in line when deals open up.
Get your copy of the guide for the full story | | | | | | | |
| |
| Brain therapy devices could boost medtech | | Medtech VC funding slowed in Q4—reaching $2.6 billion, down from $3 billion in the previous quarter. PE dealmaking in the sector was more resilient, with total deal count hitting 105 in 2023, up from 99 the year before.
Brain therapy devices could be an opportunity for investors, according to our recent Emerging Tech Research. New treatments for neurological conditions like depression and migraines are gaining traction and may propel medtech innovation forward. | | | | | | | | | Dutch decline: Mapping the Netherlands' VC ecosystem | |  | | (Alexander Spatari/Getty Images) | | | Like many of its European peers, the Netherlands suffered a decline in VC dealmaking in 2023.
Take a look at our snapshot of the country's VC ecosystem to see how it performed across venture dealmaking, fundraising and exits. | | | | | | | | | Why secondary buyers prefer mid-market continuation funds | |  | | (FabrikaCr/Getty Images) | | | | Not all investors believe bigger is better, especially those shopping for continuation funds. And they found a sweet spot in middle-market vehicles. Continuation funds below $1 billion in size benefit from the versatility of exit mechanisms for smaller assets and offer a lighter lift for secondary buyers. | | | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 528 Deals | 2503 People | 674 Companies | 31 Funds | | | | | | |
| |
The Daily Benchmark:
2015 Vintage Global PE Funds between $250M-$500M | | | | | | |
| |
| |
Canada's Ideogram, the developer of an AI text-to-image generator, raised an $80 million Series A led by Andreessen Horowitz.
Paris-based Photoroom, which offers photo-editing tools, closed a $43 million Series B led by Balderton Capital and Aglaé Ventures.
New York's Matter Neuroscience a neurological treatments specialist, raised $26 million across two rounds led by Polaris Partners, Arch Venture Partners and Exor Ventures.
Ether.fi, an ethereum staking startup based in the Cayman Islands, raised $27 million split between a $23 million Series A led by Bullish Capital and CoinFund and a previously unannounced round.
Range secured a $23.5 million investment led by Trousdale Ventures. The company is developing powered trailers intended to help decarbonize the commercial transportation industry.
Backpack, a crypto exchange startup based in Dubai, raised a $17 million Series A led by Placeholder VC.
Ohio's Redi Health raised a $14 million Series B led by Blue Heron Capital for its digital healthcare platform.
UK-based cybersecurity startup Sitehop raised £5 million in a round led by Amadeus Capital Partners and Manta Ray Ventures. | | | | | |
| |
| |
| |
| |
| |
| |
| EQT Private Capital Asia (formerly BPEA EQT) has exited its remaining 26.7% stake in Indian cash management company CMS. The investment was previously made via BPEA Private Equity Fund VI. | | | | | |
| |
| |
Indian PE firm Kedaara Capital is set to raise $1.7 billion for its fourth fund, Reuters reported.
Tikehau Capital and UOB-Kay Hian are contributing $50 million each to launch a private credit strategy for the Asia-Pacific market.
Houston-based Fathom Fund has raised $100 million for its inaugural fund, which focuses on deep-tech startups, according to reports.
Black Tech Nation, a VC firm based in Pittsburgh, has raised $50 million for its inaugural fund. It will target startups with founders from diverse backgrounds for seed and pre-seed investments. | | | | | |
| |
| |
"Though valuations of deals with nontraditional investors have declined significantly across stages, they continue to price well higher than deals without nontraditional involvement."
Source: 2023 Annual US VC Valuations Report | | | | | |
| |
No comments:
Post a Comment