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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.
| | | | | | | | | Manulife unveils debut fund dedicated to GP-led secondary deals | |  | | (Wei Fang/Getty Images) | | | Manulife Investment Management's latest fund is dedicated to GP-led secondary deals. It is the first secondaries vehicle raised by the Toronto-based asset manager to include third-party capital.
Jeff Hammer, co-head of Manulife IM's secondaries business, shared with senior reporter Madeline Shi why he's optimistic about the returns that can be generated by GP-led secondary deals. | | | | | | | |
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| Blue Owl opens fundraising channel with insurance move | |  | | (PBNJ Productions/Getty Images) | | | Blue Owl Capital announced this week it will spend $750 million to acquire Kuvare Asset Management, a boutique investment management firm that services the insurance industry, opening up an additional fundraising channel for the firm.
The firm plans to launch Blue Owl Insurance Solutions, which will tap into the $20 trillion-plus global life and annuity insurance industry and provide additional, permanent investor capital to Blue Owl. | | | | | | | | | Leveraged finance survey: Market conditions strengthen | |  | | (Hpphtns/Shutterstock) | | | | LCD's Q1 Leveraged Finance Survey of buy-side, sell-side and advisory professionals showed bullishness toward the leveraged loan asset class. Loan allocations, including for M&A, are expected to increase, and returns could outperform. Default projections for 2024 are down by a full percentage point from the previous quarterly survey. | | | | | | | | | France sees dearth of PE mega-deals and exits | |  | | (Alexander Spatari/Getty Images) | | | French private equity dealmaking faced a bumpy road in 2023. The year ended on a low, with not a single deal valued at €1 billion or more announced during Q4, as highlighted by PitchBook's Q4 2023 France Market Snapshot.
However, there is some cause for optimism for better performance during 2024 as the French economy is forecast to outperform its European peers. | | | | | | | | | VC-backed IPOs leave Europe behind | |  | | (Michael M. Santiago/Getty Images) | | | The US has seen a handful of high-profile public listings of tech companies this year, but the IPO window in Europe remains firmly shut.
Larger rallies in public equities and a more open attitude toward risk is boosting listing activity in the US—and leaving Europe behind. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 555 Deals | 2263 People | 729 Companies | 27 Funds | | | | | | |
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The Daily Benchmark:
2019 Vintage Global Funds-of-Funds | | | | | | |
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Indian fintech startup Navi is in talks to raise up to $400 million at a $2 billion valuation, TechCrunch reported.
Paris' Pigment closed a $145 million Series D led by Iconiq Growth for its business planning platform.
California-based Aerospike raised $109 million in growth funding from Sumeru Equity Partners for its AI database, analytics and transaction platform.
SiMa.ai, an AI and machine learning-centric chip startup based in San Jose, raised $70 million in a round led by Maverick Capital.
Swiss biopharmaceutical startup Neurosterix, which specializes in neurological disorders, raised a $63 million Series A led by Perceptive Advisors.
Metabolic health startup Biolinq, which is based in San Diego, raised a $58 million in a round led by Alpha Wave Ventures.
San Francisco-based Coalesce raised a $50 million Series B led by Industry Ventures and Emergence Capital for its data management platform.
Electronica Finance raised $48 million in a round led by LeapFrog Investments. The Indian company provides loans to micro, small and medium-sized enterprises
India's SingleInterface, a marketing software provider, secured $30 million in a round led by Asia Partners.
UK-based biotech startup EnteroBiotix raised £27 million from investors including Thairm Bio, Kineticos Life Sciences and Scottish Enterprise.
Biofidelity, a UK-based developer of genomic analysis technologies, secured $24 million from investors including Octopus Ventures, BlueYard Capital and Longwall Ventures. | | | | | |
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