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In today's Daily Pitch, you'll find: - Dive into the data on female founders and investors in the VC ecosystem in the US and European editions of our All In report
- A VC favorite shines among other tech verticals in projected future returns: SaaS
- Our analysts examine the startups looking to challenge Big Tech in the AI data center space
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US female founders grab record share of VC dollars | | Female founders increased their share of US VC capital raised in 2023, according to the latest All In: Female Founders in the VC Ecosystem report sponsored by Deloitte, Pivotal Ventures and Wilson Sonsini. - Female founders and co-founders secured 27.8% of deal value last year. That figure drops to 22.8% if you exclude OpenAI's $10 billion raise, but it still marks a record high.
- In absolute terms, deal activity fell along with the broader venture market, with female founders securing 25% fewer deals.
- At the GP level, the share of female check-writers at the largest VC firms grew slightly to 17.4%.
A European edition of the All In report, sponsored by UBS, Shoosmiths and Enterprise Ireland, is also available for download. | | | | | | Early-stage SaaS boasts best expected exit success rate for VCs | | | (Smith Collection/Getty Images) | | | SaaS is the bread and butter of venture, offering capital-lite business models with high profit margins. VC's focus on enterprise SaaS isn't a coincidence. Historically, it's proven to be one of the most lucrative areas for investors, reporter Rosie Bradbury writes. And new research from PitchBook, developed using the machine learning-enabled VC Exit Predictor, shows that the expected future returns for SaaS far outpace other venture tech verticals. | | | | | | |
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4 factors to consider when evaluating cloud-based software | | When considering transitioning your firm from outdated on-premises hardware to a cloud-first strategy, it can be hard to know where to start. Despite the many benefits of modern cloud technology, some leaders remain hesitant to embrace the change. Knowing the key considerations to keep in mind as you evaluate can help you to address concerns and confidently choose the right system for your firm. Read this article for 4 factors to consider when evaluating new cloud-based software. Read more on cloud-tech considerations | | | | | | |
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How VC powers AI data centers | | AI and machine learning startups added over $22 billion across more than 1,600 deals in Q4, according to our recent Emerging Tech Research. Some of these companies support AI-specific data centers, whose specialized infrastructure and operations are designed to meet the rigors of AI workloads. A few upstarts are looking to challenge the likes of Microsoft and Google in the AI data center space. | | | | | | Q&A: How technology can streamline fund financing | | | Bridge founder Andrew Frazer Smith (Courtesy of Bridge) | | | The fund financing market has felt a particular strain on subscription credit lines, a kind of facility secured against LP commitments. We talked with Andrew Frazer Smith, the UK-based founder of Bridge, a platform to connect GPs to lenders and remove many of the inefficiencies in the market. | | | | | | |
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| Since yesterday, the PitchBook Platform added: | 526 Deals | 2259 People | 453 Companies | 49 Funds | | | | | |
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The Daily Benchmark: 2018 Vintage Global Real Assets Funds | | | | | |
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Paris-listed Tikehau Capital has picked Margaux Buridant and Célia Hamoum as co-heads of its private wealth solutions group, a specialized entity dedicated to family offices and high-net-worth individuals. | | | | | |
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Biotech startup Alumis, which is based in San Francisco, has raised a $259 million Series C co-led by Foresite Capital, Samsara BioCapital and venBio Partners. Boston-based cystic fibrosis treatment provider Sionna Therapeutics has secured a $182 million Series C led by Enavate Sciences. New York-based cybersecurity startup Claroty has received a $100 million investment from Delta-v Capital, AB Private Credit, Standard Investments and others. Carputty, an auto financing startup based in Atlanta, has raised $80 million comprising a $75 million warehouse facility from Silicon Valley Bank and $5 million in equity led by TTV Capital. San Francisco-based HR startup Remofirst has raised a $25 million Series A led by Octopus Ventures. Haiper, a London-based AI video generation startup, has closed a $13.8 million seed investment led by Octopus Ventures. France's Bene Bono has raised €10 million in a round led by AXA Venture Partners to help lessen food waste. Cellcolabs, a Swedish producer of affordable stem cells, has secured $8.7 million from investors including Norrsken Launcher. | | | | | |
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EQT raised €3 billion for EQT Future, an impact fund targeting climate and nature investments as well as health and well-being. Pittsburgh-based Riverarch Equity Partners raised a $1 billion fund, its fourth, with a focus on middle-market companies in the distribution, business services and specialized manufacturing sectors. Boston-based Manulife Investment Management closed a $752 million private credit fund, which will target companies with more than $20 million in EBITDA. Ring Capital, a French VC firm, has raised a €50 million Africa-focused fund. Johannesburg-based Conducive Capital has launched with a plan to raise $50 million within the next two years to invest in South Africa-based startups. | | | | | |
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