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| In today's Daily Pitch, you'll find: | | | | | |
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| Mining the data analytics vertical | | The data analytics vertical has reliably produced some of the largest, highest-growth new companies of recent decades, from Snowflake to Palantir. Our first-ever Data Analytics report outlines the trends and critical opportunities that will define the industry in years to come. - We estimate that the data analytics market attracted $201.8 billion in spending in 2023 and will grow at an 18.1% CAGR through 2026.
- Since 2019, data analytics companies have raised between 19% and 22% of global software funding each year—demonstrating consistent investor commitment to the space.
- Generative AI offers new opportunities for innovation and investment in conventional data analytics categories like data lakes and business intelligence.
| | | | | | | | | Leonard Green leads historic PE exit at $18.25B | |  | | (Stefani Reynolds/Getty Images) | | | A deal cut between a roofing supplier and The Home Depot marks one of the largest private equity exits of a US-based company.
Home Depot announced yesterday its acquisition of SRS Distribution, a Texas-based building product distributor, in a transaction valued at $18.25 billion. | | | | | | | |
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| Webinar: Demystify the SEC's Preferential Treatment Rule | | Learn more about the Preferential Treatment Rule from the SEC's Private Fund Adviser Rules (PFAR) and how the industry is thinking about compliance as it approaches the September 14 compliance date.
Ontra is joined by: - Malvika Gupta, Senior Regulatory Counsel at Antares Capital LP
- Lindsay Rutishauser, Principal and CCO at Motive Partners
Listen to these industry experts cut through the jargon to give you actionable advice on: - The impact of the Preferential Treatment Rule on your funds
- How the GP-LP relationship is evolving
- Simplifying compliance with legal tech
- Navigating the changing regulatory landscape with confidence
Watch the on-demand webinar now: Preparing for the SEC's Preferential Treatment Rule | | | | | | | |
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| Is the ridehailing startup dead? BlaBlaCar's 43% markup says not | |  | BlaBlaCar CEO Nicolas Brusson
(Patricia De Melo Moreira/AFP via Getty) | | | VNV Global has marked up its shares in French mobility company BlaBlaCar by 43% year-over-year, in a rare endorsement of the growth potential for a ridehailing company, according to the firm's 2023 annual report. The markup of its stake corresponds to a valuation of over $2 billion.
The rideshare company's financial performance for 2023 shows promising signs: It recorded 80 million passengers in 2023, representing YoY active user growth of between 20% and 25% | | | | | | | | | Investors build out advanced manufacturing | | US construction spending doubled to $200 billion between 2022 and 2023. A renewed interest in the advanced manufacturing vertical, driven by skill and labor shortages, increased geopolitical competition, and large domestic investment has spurred VC interest.
PitchBook analyst Ali Javaheri covers into the state of advanced manufacturing in his vertical snapshot. Providing a deep dive into data, key players and deals, as well as industry dynamics, our latest Emerging Tech Research offers an overview during a pivotal juncture. | | | | | | | | | The 10 most active CVC investors in European startups | |  | | (Justin Sullivan/Getty Images) | | | Corporate venture capital investors started 2024 European dealmaking off slowly, extending from two consecutive years of declines due to economic uncertainty.
With Q1 nearly over, the total deal count with CVC participation appears likely to hit its lowest point since the pandemic at 385 transactions as of yesterday. Still, factors such as the rise of generative AI and the benefits it could provide to corporations may lure them back. | | | | | | | | | Nvidia, Microsoft rain on AI-driven IPO parade | |  | | (Megan Woodard/PitchBook News) | | | In a recent copy of The Wall Street Journal, the top headlines mentioned Microsoft's curious deal with Inflection AI and Nvidia's new next-generation Blackwell chips. Overshadowed by the dramatics of CEOs Satya Nadella and Jensen Huang, one of the most promising stories for AI startups had slipped off the front page.
That third story, Astera Labs' IPO, was a welcome win for AI investors. But the big swings by Microsoft and Nvidia suggest a shakeout is coming. | | | | | | | | | Southeast Asia's fast-growing economies weather deal squeeze | | Can Southeast Asia recover its dealmaking enthusiasm? Between 2015 and 2021, the cumulative deal count for PE and VC more than tripled, and deal value hit a high-water mark of $34.1 billion in 2022. Since then, however, activity in the region has been squeezed more than in other places.
PitchBook's debut 2024 Southeast Asia Private Capital Breakdown finds considerable opportunities remain among the region's fast-growing and diverse economies. Indonesia, the most populous country, has a bustling tech ecosystem and the largest domestic market. And some are already talking up Vietnam as the "next Indonesia." | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 594 Deals | 1993 People | 698 Companies | 35 Funds | | | | | | |
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The Daily Benchmark:
2019 Vintage North American Secondaries Funds | | | | | | |
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Virginia-based energy storage startup Lightshift Energy secured a $100 million investment from Greenbacker Capital Management.
New York-based cybersecurity startup Coro closed a $100 million Series D led by One Peak.
Pelago, a New York-based virtual clinic for substance use management, raised a $58 million Series C led by Atomico.
Blueground, a New York-based operator of flexible, furnished apartments, raised $45 million in a Series D from investors including Susquehanna Private Equity Investments and WestCap.
Belgium's Robovision raised $42 million in a round led by Target Global and Astanor Ventures for its AI platform intended to manage vision intelligence.
Risk and mitigation specialist Zafran, which is based in New York, secured a $30 million investment led by Sequoia and Cyberstarts.
Skyflow, a data privacy startup headquartered in Palo Alto, raised a $30 million Series B extension led by Khosla Ventures.
Barcelona-based Web3 gaming distribution specialist Elixir Games secured a $14 million seed investment from investors including Square Enix and Shima Capital.
StealthMole, a Singapore-based dark web data intelligence startup, raised $7 million in a Series A led by Korea Investment Partners. | | | | | |
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"UAE-based startups raised $2.4 billion in 2022 and $2.1 billion in 2023—equivalent to 50.6% and 55.9% of the annual totals for the whole MENA region, respectively. The UAE has established itself as a key VC ecosystem in the region, as evidenced by the uptick in deal activity."
Source: H2 2023 MENA Private Capital Breakdown | | | | | |
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