| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| Don't call it a comeback for VC yet | | Two years into the market slowdown, VC dealmaking has remained surprisingly resilient. Deal counts have risen for three consecutive quarters, according to PitchBook estimates, and median valuation figures have risen too. On their own, these trends point to a return of market strength, but alongside the poor exit environment, it could be that even strong companies are finally being pushed to raise more capital.
There's still plenty of time left in 2024 for GPs to see a reversal of their fortunes. Check out our mid-year review of the VC industry with our First Look data packs for the Q2 2024 PitchBook-NVCA Venture Monitor, Q2 2024 European Venture Report and Global Venture Capital dataset. | | | | | | | | | PE exits mount a recovery | | Total take-private deal value in North America and Europe topped $61 billion in Q2, a fourfold increase over the prior quarter. The period included Silver Lake's acquisition of Endeavor, the largest take-private in 10 years at $25 billion in enterprise value.
Exit value in the US has tracked solidly, as many firms have secured deals through partial exits, continuation funds and rolling minority stakes. Our Q2 2024 Global PE First Look data packs precede the release of our quarterly US and European PE Breakdown reports, covering trends for dealmaking, exits and fundraising. | | | | | | | |
| |
| |
| The private equity race to digital is intensifying | | In today's market, PE funds race to adopt the latest technology to stay ahead. While many embrace digital solutions to streamline back-office functions, amidst AI's promise of game-changing results, leaders remain uncertain on which tools will give their teams the edge to win—from screening and diligence to successful exits.
Leading firms such as CVC, Warburg Pincus, Riverside, and others have chosen Mosaic's advanced digital modeling platform to optimize their investment analysis. Mosaic delivers precise, data-driven insights, enabling teams to swiftly evaluate LBO opportunities and make informed decisions that maximize returns across the deal lifecycle. Mosaic's integration with AI empowers investors to bring static analysis to life, enhancing decision-making while seamlessly integrating into existing workflows.
Position your fund at the forefront of deal-making with confidence. | | | | | | | |
| |
| How VC can make healthcare more accessible | | Improved search platforms and AI chatbots are among the ways startups are helping patients access healthcare, according to our recent Emerging Tech Research.
Digital health startups are addressing mental health with generative AI chatbots, which show increased potential in public health. Better care search platforms connect patients and providers, with fewer barriers—as easy as booking a hotel on a website.
Across the digital health sector, VC investment remained stable in the first quarter. There were 77 deals totaling $1.1 billion, on par with recent quarters but still down from the telehealth funding boom during the pandemic. | | | | | | | | | UK's Revolut teases IPO plans, but will it pick London? | |  | | (NurPhoto/Getty Images) | | | After reporting record pretax profits of roughly $555 million, UK challenger bank Revolut hinted that it is laying the groundwork for an IPO.
If the company secures the $40 billion valuation it's seeking in its latest share sale, it would be one of the largest European tech listing—though chances of it going public in its home market look slim. | | | | | | | | | Shoppers could soon ditch search bar | | As ecommerce innovators create new ways for consumers to find products, typing an item's name into Google could soon feel like a thing of the past, according to our recent Emerging Tech Research.
AI-powered applications will likely continue to increase in the sector, and certain markets have begun to shift entirely toward visual channels of product discovery over keyword searches.
Also in the report: VC ecommerce dealmaking fell to the lowest level in more than five years in Q1, at 83 deals totaling $1.7 billion. IPOs remained slow, but several digital commerce platforms could be inching closer to going public toward the end of 2024. | | | | | | | | | Texas endowment joins wave of US pensions emulating Canada | |  | | (Joey Schaffer/PitchBook News) | | | The largest public university system endowment in the US will prioritize value-creation strategies like direct and co-investments in its five-year strategic plan.
The push is aligned with a general shift among the country's largest and most sophisticated allocators to emulate the Canada model, a structure long employed by that country's famously well-performing public pension plans that prioritizes internally-managed investment portfolios and direct and co-investments into private assets. | | | | | | | |
| |
| | Since yesterday, the PitchBook Platform added: | | 680 Deals | 2107 People | 716 Companies | 44 Funds | | | | | | |
| |
The Daily Benchmark:
2014 Vintage European Real Estate Funds | | | | | | |
| |
| |
LiveOak Fiber, a fiber broadband company that provides services across the US Southeast, raised $250 million in funds underwritten by JP Morgan.
Sentient Labs raised an $85 million seed round led by Pantera Capital and Framework Ventures. Based in Singapore, the company operates a platform enforced by blockchain protocol that allows developers to work on emerging AI tech
Prodia, the Atlanta-based provider of a distributed GPU network for AI image generation, raised a $15 million seed round led by Dragonfly Capital.
Phaidra, a startup developing energy-efficient technology for AI data center infrastructure, raised a $12 million round led by Index Ventures.
Finland's eAgronom, an agriculture-focused climate-tech company, secured €10 million in its Series A2 led by Swedbank. | | | | | |
| |
| |
Nasdaq-listed Everbridge, which helps businesses coordinate emergency responses, was acquired by Thoma Bravo for about $1.8 billion.
Germany's F24, a developer of crisis management software for businesses, will be acquired by Altor.
Qloo received a $20 million growth investment from Bluestone Equity Partners. The company is developing AI that can predict consumer lifestyle preferences.
EQT is close to buying a stake in German bus and train operator Flix in a deal that values the business at €3 billion.
Paris-based Ardian is in exclusive talks to acquire Diam, a specialist in shopfitting and store design for beauty and luxury brands, alongside BNP Paribas Développement.
Ascendent Capital Partners secured Chinese approval to acquire Hollysys Automation Technologies, a US-listed industrial company based in Beijing, in a $1.66 billion deal.
Omnissa, which offers a digital work platform for corporations, was acquired by KKR.
Main Capital Partners acquired RiskConcile, a Belgian provider of regulatory and risk software for the financial services industry backed by MaasInvest.
Alinamin Pharmaceutical, a Japan-based pharmaceutical company, will be sold by Blackstone to MBK Partners for about 350 billion yen (about $2.2 billion), Reuters reported.
Extens has sold Must, a French provider of home healthcare software, to Orisha, a TA Associates portfolio company. | | | | | |
| |
| |
The Boston Celtics will be put up for sale by owner Boston Basketball Partners just after winning the NBA championship title.
Pluto, which offers an automated stock and crypto trading platform, was acquired by Nasdaq-listed Robinhood.
Compose Coffee, a popular South Korean coffee chain, will be acquired by Jollibee, a restaurant operator based in the Philippines.
Genesis Digital Assets, a cryptocurrency mining company, is considering a US IPO, Bloomberg reported.
Tait is considering a sale that could value it at around $1.3 billion, Bloomberg reported. The company manufactures lighting and stage components for the entertainment industry.
Motorola Solutions acquired Noggin, an Australian VC-backed provider of software for business continuity planning and critical event management. | | | | | |
| |
| |
Industry Ventures has raised a $900 million fund that will target early-stage startups and emerging managers.
Two Roads Partners, a New York-based PE firm, closed its Fund I on $400 million.
The Westly Group has closed its latest seed fund on $100 million. The fund will target startups transforming industries with climate tech.
Spanish VC Seaya Ventures closed its climate-tech fund, Seaya Andromeda, on €300 million. | | | | | |
| |
| |
| |
| |
No comments:
Post a Comment