| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| VC fund returns capture best quarter since 2021, eking out 0.4% gain | |  | | (PM Images/Getty Images) | | | VC vehicles finished out the last three months of 2023 in the black, notching the first positive quarterly return since Q4 2021, according to our latest fund performance data.
Meanwhile, long-anticipated rate cuts by the Federal Reserve are primed to render dealmaking more attractive. Are we on the road to recovery? | | | | | | | | | PE dealmakers see turning point for healthcare services | | Deals for healthcare services companies slipped 16.5% in Q2 from the prior quarter, but the market shows signs of turning a corner, our Healthcare Services Report explains.
Throughout the year, bankers have said that their pipelines are filling up. Q2 saw a handful of platform trades, and additional large deal announcements are likely to follow. GPs are feeling pressure to both return capital to LPs and deploy it, and they're increasingly confident that rate cuts are near.
Our analysts expect a gradual increase in activity as sellers bring their best assets to market and valuation expectations crystallize. | | | | | | | |
| |
| A message from RBC Capital Markets | | |
| AI offers promise for the energy sector on two fronts | | Prospects in the energy sector are suddenly looking brighter, and a favorable backdrop means the US market is best placed to benefit. The advancement of artificial intelligence is providing a boost on two fronts—generating increased demand for energy, while offering potential for companies to achieve further efficiencies. But one potential curb on activity in the sector is the enforcement of new merger competition rules. Learn how these complex forces are set to play out on Strategic Alternatives, the RBC Capital Markets podcast.
Listen now | | | | | | | |
| |
| Market Map: Last-mile delivery startups lift supply chain tech | |  | | (J Studios/Getty Images) | | | The supply chain tech sector has been on the rise for the last two quarters, driven by the last-mile delivery segment. These startups work at the final stages of the process, focusing on the distribution of goods from hubs.
Our latest market map dives into the segment, highlighting the startups and focus area attracting investors' capital. | | | | | | | | | Global payments highlight enterprise fintech's upswing | | VC funding for the enterprise fintech industry broke a downward trend with modest growth in Q2 2024. According to our recent Emerging Tech Research, startups in the sector raised $4.6 billion, up more than 27% quarter-over-quarter, across 315 deals.
Among the sector's most notable companies are startups focused on B2B cross-border payments models, simplifying global transactions between companies. A spotlight on Airwallex provides a taste in our recent cross-border payments deep dive. | | | | | | | | | 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 deals aren't yet in orbit for satellite servicing | | As space technology continues to clutter Earth's orbit with debris, startups on the ground are developing solutions to maintain and repair satellites overhead. Our recent Emerging Space Brief highlights the challenges for companies in this new industry.
Our analysts think the key concerns for VC deals to get off the ground are the technical complexities and availability of government support for the sector. The note highlights Starfish Space, a company positioned to make an impact on satellite servicing through its technological innovation and $37.5 million government contract. | | | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 81 Deals | 199 People | 70 Companies | 7 Funds | | | | | | |
| |
The Daily Benchmark:
2017 Vintage Global Debt Funds | | | | | | |
| |
| |
Revolut, a London-based challenger bank, secured a $45 billion valuation in an employee share sale. Investors in the deal included D1 Capital Partners and Tiger Global.
Svante, a Vancouver-based company developing carbon capture and removal technology, raised $100 million from the Canada Growth Fund.
Quantum Circuits, a Connecticut-based startup creating quantum computers, raised a Series B of over $60 million led by Arch Venture Partners, F-Prime Capital, Sequoia and Hither Creek Ventures.
WSPN, a Singapore-based startup creating a stable digital currency for web payments, raised a $30 million seed round led by Folius Ventures and Foresight Ventures.
Jupiter Endovascular, a company developing treatments for pulmonary embolisms, raised a $21 million round from investors including Sonder Capital.
Garden, a startup developing a patent search tool for litigators working in life sciences, raised a $6.8 million seed round led by Spark Capital, Axios reported.
Trumpet, a London-based software sales specialist, raised $6.35 million in a seed round led by AlbionVC. | | | | | |
| |
| |
| |
| |
| |
Nova Biomedical, a private company developing medical devices, is exploring a sale that could value the business at upward of $2 billion, Bloomberg reported.
Ecom Express, an Indian logistics specialist backed by Partners Group and Warburg Pincus, filed for an IPO that could value the business at up to 26 billion rupees (around $310 million).
Ant Group is in talks to buy VC-backed Chinese healthcare platform Haodf, Bloomberg reported.
US Tarp, which manufactures tarp systems for trucks and trailers, has been acquired by Shur-co.
HireClick, the developer of an applicant tracking system, has been acquired by Nasdaq-listed Asure Software. | | | | | |
| |
| |
HarbourVest Partners raised $18.5 million across two new funds, $15.1 million for Dover Street XI and $3.4 million for Secondary Overflow Fund V, The Wall Street Journal reported.
HighPost Capital's investment arm focused on early stage businesses, Hipstr, raised $100 million at the close of its debut fund. | | | | | |
| |
| |
| |
| |
No comments:
Post a Comment