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| In today's Daily Pitch, you'll find: | | | | | |
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| AI gold rush hides a cash crunch for startups | |  | | (David Gray/AFP/Getty Images) | | | If you strip away the AI dealmaking frenzy, a harsh reality of today's fundraising landscape comes into full view: More startups are pushing the limits of how long they can go before replenishing their cash reserves.
The length of time that companies are waiting between funding rounds has been widening, and it is likely to result in more shutdowns. | | | | | | | | | VC sees growing opportunity in data observation | | The infrastructure SaaS sector has seen relatively steady growth in total VC deal value over the last several quarters—hitting $3.4 billion in Q2 2024, according to our latest Emerging Tech Research. Exits are also on the rise, with 29 already recorded in the first half of 2024, compared to 31 in all of 2023.
Startups that focus on data management, observation and monitoring are helping to fuel the surge. Our analysts cover companies such as Monte Carlo that specialize in data observability to improve data pipelines. | | | | | | | |
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| A message from PitchBook Data | | |
| 2024 advertising opportunities with PitchBook | | Clients trust PitchBook Media for top-tier ad placements in our seven specialized newsletters that connect with 2.1 million highly engaged PE and VC professionals. Backed by our robust global market data, we craft custom research reports and amplify clients' existing thought leadership through partnerships on PitchBook's asset class reports or native sponsored content columns.
Explore our Media Kit for more information or email us at mediasales@pitchbook.com. | | | | | | | |
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| Grid infrastructure powers clean energy's future | |  | | (Julia Midkiff/PitchBook News) | | | As the world continues its transition toward clean energy, VCs are cashing in while looking for the startups that will lead the way. The grid infrastructure sector, where companies are working to develop new power generation and storage solutions, is a big focus.
PitchBook's latest market map highlights the startups leading growth in the space. | | | | | | | | | PE steps up from the bench in Q2 M&A dealmaking | | M&A's path to recovery has been solidly tracking upward as private equity's share of M&A dealmaking has rebounded.
PE's slice of total M&A deal value hit 41% in Q2, up from 33.5% in the first quarter. With banks lending again for leveraged buyouts, this has helped lower borrowing costs and large take-privates have surged.
Our Q2 2024 Global M&A Report, sponsored by Liberty GTS and Clear Street, covers the trends shaping M&A dealmaking by region and sector—and how these developments may set the stage for an active second half of the year. | | | | | | | | | Q&A: Hot biotech stocks have LPs eyeing hybrid venture vehicles | |  | | (Andrew Brookes/Getty Images) | | | Hybrid venture vehicles are nothing new, but blended public and private vehicles may be gaining an edge.
Stephanie Sirota, RTW Ventures' chief business officer, said her outlook for biotech has never been brighter, but that's only when you couple private and public names. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 55 Deals | 179 People | 72 Companies | 1 Funds | | | | | | |
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The Daily Benchmark:
2016 Vintage Global VC Funds | | | | | | |
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Mynt, a Philippines-based company operating digital wallet brand GCash, received $393 million from Ayala and Mitsubishi UFJ Financial each in a deal that boosts Mynt's valuation to $5 billion.
Bilt, a startup developing a platform rewarding renters by converting their payments into other rewards, raised $150 million in a round led by the Ontario Teachers' Pension Plan. Bilt is now valued at $3.25 billion.
Agrovision, a company growing and distributing superfruits, raised $100 million in a round led by Aliment Capital that values the company at more than $1 billion.
Yodel, a UK-based package delivery and logistics service company, raised £85 million from investors including Paypoint.
Knowde, a startup operating an online marketplace for industrial chemicals, raised a $60 million Series C from Sequoia Capital, Blue Cloud Ventures and Point72 Ventures, TechCrunch reported.
Morpho, a Paris-based developer of a decentralized protocol for crypto lending and borrowing, raised $50 million from investors including Ribbit Capital.
Bourgeois Bohème, a Vilnius-based financial management platform, secured €6.5 million in a round led by Graphit Lifestyle.
D-ICE Engineering, a French deep-tech startup, secured €6 million in a round led by Swen Capital Partners. | | | | | |
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Vital Care, a company specializing in home infusion services, received an investment from Berkshire Partners, Leonard Green & Partners and Linden Capital Partners.
PureFacts, a company developing SaaS for revenue management solutions, received an investment from GrowthCurve Capital that gives the firm majority ownership.
Fischer Information Technology, a company providing documentation services to manage business information, has been acquired by Quanos, a portfolio company of Keensight Capital.
Document imaging service provider Kodak Alaris has been acquired by Kingswood Capital Management from the United Kingdom Pension Protection Fund.
Fitness Ventures, a franchisee of Crunch Fitness, has been acquired by Meaningful Partners. | | | | | |
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