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| In today's Daily Pitch, you'll find: | | | | | |
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| VC drives the future of freight tech | | VC funding for the supply chain tech industry is steadily gaining traction after a few bumpy years. Startups brought in $2.4 billion across 167 deals in Q2 2024, with the latter figure rising for the third straight quarter, according to our latest Emerging Tech Research.
The report also highlights freight-tech specialists, which are paving the way for autonomous trucking. Our analysts focus on companies like Waabi—backed by Uber as well as Volvo and Volkswagen's VC arms—that are making strides in the space. | | | | | | | | | Private investment continues apace in European football | | England's Premier League kicks off today, joining a wave of teams in Europe's biggest football leagues that are vying to come out on top this season.
Behind the scenes a very different competition is brewing: Private investors continue to jockey for inroads into the top clubs, more than a third of which are backed by PE or VC, according to our dashboard. In the Premier League, half of the 20 teams are backed by private capital, the most of any league. Some key developments since our last update include: - An investor's lawsuit filed in May accusing 777 Partners of fraud sent shockwaves through the footballing world. The firm owned stakes in seven clubs and was in the middle of a deal to purchase Everton FC. That deal has since collapsed.
- US-based Oaktree Capital Management assumed control of Italian club Inter Milan in May after the previous Chinese owner defaulted on its debt.
- French club AS Saint-Étienne was purchased by Canadian PE firm Kilmer Group in June, Kilmer Group also owns Toronto FC in the MLS.
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| AI & VC: Transforming dealmaking | | Firms have been rapidly building out their AI capabilities to find and close more high-quality deals—but not all AI strategies are created equal. Find out what works in Affinity's upcoming webinar featuring exclusive insights from two speakers at the forefront of AI workflow transformation.
Join Adam Perelman, Engineering Manager at OpenAI, and Andre Retterath, Partner at Earlybird Ventures for a conversation with Affinity's Co-founder, Ray Zhou, about the impact of AI in VC.
The panel will discuss AI as it relates to deal sourcing and screening, outreach and engagement, and due diligence. Find out how reliable AI is at identifying and prioritizing opportunities, relationship nurture, and more.
Register now for the webinar on Sept. 5. | | | | | | | |
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| Private equity's unlikely fundraising window | |  | | (Joey Schaffer/PitchBook News) | | | Now may be the most favorable time to raise a private equity fund in two years.
"I'm much more optimistic at this point in the cycle in 2024 than I was in 2023 and 2022," said Andy Lund, global co-head of Houlihan Lokey's private funds group.
The first half of the year was fairly successful for PE managers gathering capital from institutional investors, defying expectations that fundraising would slow in response to dwindling exits and minimal distributions back to fund investors. | | | | | | | | | Unicorn indexes return to growth | | After two years of mostly flat performance, billion-dollar VC-backed companies are showing signs of growth once more, according to the Morningstar PitchBook Global Unicorn indexes.
Our index of global unicorns is up 4.6% this year. From a geographic perspective, European companies have stood out with an 8% rise. Biopharma has led the way among industry sectors, climbing 18.7% this year, followed by AI unicorns at 9.7%. | | | | | | | | | Carbon tech chases 2023 dealmaking high | | While other VC sectors hit a slump after the heights of 2021, the carbon and emissions tech industry remained strong, with dealmaking peaking in 2023. But if VC dealmaking stays on pace for the second half of 2024, carbon-tech companies will raise nearly $12 billion—which would amount to the lowest yearly figure for the sector since 2020, according to our recent Emerging Tech Research.
The startups receiving the most funding in Q2 were recycling and green chemical specialists. Our analysts also spotlight companies that focus on carbon capture, polymer recycling and geospatial technologies. | | | | | | | | | AI-powered legal-tech startups cut the hype, gain more traction | |  | | (Jenna O'Malley/PitchBook News) | | | The legal-tech vertical has gotten a jump-start, driven by AI-infused startups attracting investors' capital and attention. But what's behind the rush?
In one word: restraint. Counter to the hype-driven frenzy surrounding AI, VCs and startups are taking a more measured approach, with some "handholding" lawyers as the AI transition begins. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 255 Deals | 711 People | 255 Companies | 28 Funds | | | | | | |
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The Daily Benchmark:
2018 Vintage Global Secondaries Funds | | | | | | |
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| A message from Moss Adams | | |
How NetSuite empowers flexible growth for life sciences companies | | Join Moss Adams for an upcoming webcast on Thursday, Aug. 22, at 10 a.m. PT to learn how NetSuite can help your life sciences company manage growth from the pre-clinical to commercialized stage in a scalable, sustainable manner.
Discuss cloud-based business management and discover specific NetSuite functionality that can assist with issues including: - Project accounting
- Procurement automation
- Contract management
- Regulatory compliance
- Security and controls
Moss Adams will also discuss case studies involving our NetSuite solutions for your industry.
Register to attend | | | | | | | |
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Zepto, a Mumbai-based grocery delivery specialist, raised a $340 million Series G led by General Catalyst and Mars Growth Capital at a $5 billion valuation.
Caresyntax, a San Francisco-based company developing data-driven surgery technology powered by AI, raised a $180 million Series C led by Surgical.ai.
ReBuild Manufacturing, a company working to revitalize US manufacturing, received a $120 million investment from General Catalyst.
Histosonics, a Minnesota-based startup developing ultrasound technology to treat cancerous tumors, raised a $102 million Series D led by Alpha Wave Ventures.
World Labs, an AI startup developing tools to process visual 3D data, raised a $100 million round led by NEA that gives the company a valuation over $1 billion, TechCrunch reported.
Chaos Labs, a New York-based startup developing a risk-management platform, raised a $55 million Series A led by Haun Ventures.
Amount, a company developing a software platform for financial institutions, raised $30 million in funding led by Hanaco Ventures.
Flower, a Stockholm-based energy grid startup, raised 290 million Swedish kronor (about $27.5 million) in a round led by Northzone, Impact Loop reported.
Hexarad, a London-based radiology platform provider, secured €13 million in a round led by MTIP.
Eschatology Entertainment, a Cyprus-based game development studio, completed a €10.2 million investment led by Krafton. | | | | | |
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NextGen Growth Partners, a Chicago-based PE firm, raised $165 million at the close of its third fund.
Maverick Capital, a Dallas-based private fund manager, launched a new fund, Maverick Silicon, targeted at AI companies. | | | | | |
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