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| In today's Daily Pitch, you'll find: | | | | | |
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| How buy now, pay later will propel retail fintech forward | | Retail fintech saw slight growth in Q4 with deal value ticking up to $2.6 billion, a 5% increase from the previous quarter. While deal count declined to 148 deals—a 10.8% decrease from Q3—a new crop of buy now, pay later startups are poised to energize the space.
The Q4 2023 Retail Fintech Report dives into the new wave of BNPL startups, with financial analysis of the major players and trends investors need to know. | | | | | | | | | Deals for European female founders grow at twice the rate of all-male teams | | Funding for European female founders showed resilience in a down year, according to the latest All In: Female Founders in the VC Ecosystem report sponsored by UBS, Shoosmiths and Enterprise Ireland. - Female founders captured 25.8% of deal count and 20.5% of deal value in 2023—both records, although investment fell in absolute terms.
- Deals for European female-founded companies grew more than twice as fast as deals for all-male-founded teams over the past decade.
- Just 15.2% of decision-makers at large European VC firms are women. However, healthcare-focused investors tend to have better representation.
A US edition of the All In report, sponsored by Deloitte, Pivotal Ventures and Wilson Sonsini, is also available for download. | | | | | | | |
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| A message from M&A Science | | |
| #1 virtual event for M&A professionals | | Interested in staying up-to-date with the latest tactics & news in M&A?
Look no further than the M&A Science 2024 Spring Summit. Designed for M&A professionals, the summit is a virtual thought leadership event where you'll hear from leading M&A professionals from brands like FastLap, Valuation Research Corporation, Slalom, Polygon and more, who are true disruptors in the M&A industry.
Bursting with impactful content, you'll learn the latest trends, expert tips, and practical takeaways for how your team can optimize the way you do M&A.
This is a free event you don't want to miss. Can't make it on April 10th? Register anyway, and the M&A Science team will share the recording. Click here to register. | | | | | | | |
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| Nordic region sees PE values surge, VC declines | | The Nordic PE market recorded its second-best year for total deal value in 2023, defying the slump that has become widespread across Europe. Up 3.7% year-over-year, it was driven by a record year for take-private deal value, according to our 2024 Nordic Private Capital Breakdown.
The region's venture market was not so lucky, with total deal value falling 47.1% YoY to stand at €5.9 billion (about $6.46 billion). Sweden has historically been the driving force behind the Nordic VC ecosystem, and Stockholm ranked as the third-largest hotspot for all of Europe in terms of deal value last year, a status it hasn't held since 2016. | | | | | | | | | Declining fortunes: Mapping Germany's VC ecosystem | |  | | (Stadtratte/Getty Images) | | | Last year, Berlin failed to make the top three European cities by deal value for the first time since 2016—one sign of Germany's lackluster year for VC dealmaking.
Take a look at some of the key trends defining Germany's VC ecosystem. | | | | | | | | | 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 recent quantitative report begins 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. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 560 Deals | 2160 People | 582 Companies | 43 Funds | | | | | | |
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The Daily Benchmark:
2016 Vintage Global Secondaries Funds | | | | | | |
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Zama, a Paris-based open-source cryptography startup, has closed a $73 million Series A led by Multicoin Capital and Protocol Labs.
Denver-based Todyl, a cybersecurity startup, has raised a $50 million Series B led by Base10 Partners.
Colorado-based Defense Unicorns, which develops software for the defense industry, has raised a $34 million Series A led by Sapphire Ventures and Ansa Capital.
Data management and directory software startup Cayosoft, which is based in Ohio, has raised a $22.5 million investment from Centana Growth Partners.
Neural Propulsion Systems, a radar software startup based in California, has raised a $17.5 million Series B from Cota Capital, GM Ventures and RTX Ventures.
German direct air capture startup Greenlyte Carbon Technologies has raised a €10.5 million pre-Series A from investors including Earlybird Venture Capital and Carbon Removal Partners.
UK-based biotech startup Wobble Genomics has secured €9.9 million in a round led by Mercia Ventures and BGF.
London-based Cogna has received £3.76 million led by Hoxton Ventures for its AI-driven SaaS platform. | | | | | |
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Triton is combining two portfolio companies, Sweden-based Assemblin and Finland-based Caverion, to form Assemblin Caverion Group. Both specialize in designing and maintaining technical systems for air, energy and water.
VC-backed French banking company Qonto bought Regate, an accounting and automation startup, TechCrunch reported. | | | | | |
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Andreessen Horowitz is raising nearly $7 billion for several funds, including a flagship fund and several industry-specific vehicles, according to reports.
Limerston Capital, a UK-based middle-market PE firm, closed its second fund on £245 million.
Early-stage proptech investor Prudence closed its third fund on $80 million. | | | | | |
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| The UK's Nationwide Building Society has agreed to terms for the purchase of Virgin Money in a £2.9 billion deal. The transaction would reportedly create the UK's second-largest mortgage and savings group. | | | | | |
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