Will Two Sigma shakeup harm its VC brand?

10 gaming unicorns likely to go public; private debt funds keep on rolling; can crypto fix AI's computing crunch?

Don't want to receive these emails? Manage your subscription. Log in The Daily Pitch: VC, PE and M&A September 2, 2024 The Daily Pitch is powered by PitchBook's industry-defining research and best-in-class data In today's Daily Pitch, you'll find: Will Two Sigma's founder shakeup damage its VC brand? The good times keep rolling for private debt funds IPO Watchlist: 10 gaming unicorns likely to go public   Today's Top Stories   After Two Sigma shakeup, will its VC brand take a hit? (Rob Dobi/Getty Images) The high-profile exit of the founders of hedge fund Two Sigma Investments raises questions about the future of its venture arm, Two Sigma Ventures. At issue: Will the affiliate's recent successes be enough to outweigh any concerns caused by the parent company's distress? read more   Share: IPO Watchlist: The gaming startups set to power-up the IPO market (Drew Sanders/PitchBook News) VC investors are hoping gaming startups can offer a power-up to the IPO market. Companies like Discord and Fortnite-maker Epic Games are waiting in the wings, alongside a bevy of well-funded Web3 gaming startups. Using PitchBook's VC Exit Predictor, we've assembled a list of the 10 gaming startups most likely to go public. see the list   Share:   A message from Affinity   Exploring AI in VC with OpenAI, Data-Driven VC, and Affinity AI tools from OpenAI, Google, Affinity, and others are changing how dealmakers work—especially in their CRM—but both challenges and opportunities lie ahead as adoption grows. Join Affinity this week for tips on how your firm can successfully incorporate AI into the dealmaking process. The conversation features Adam Perelman, Engineering Manager at OpenAI; Andre Retterath, Partner at Earlybird Venture Capital (and Data-Driven VC); and Affinity's co-founder, Ray Zhou. They will answer questions like "How reliable is AI at identifying, highlighting, and prioritizing opportunities that fit a firm's investment thesis?" and "How are firms using AI to review, organize, and derive insights?" If you want to understand the impact that AI can have on your deal flow process, don't miss the webinar on September 5. Share:   For private debt funds, the good times keep rolling (Sarayut Thaneerat/Getty Images) Fund managers that specialize in private debt entered the year on a roll after one of the best performances in the private market, offering another proof point supporting the strategy's robust fundraising momentum. Global private debt funds registered a rolling one-year IRR of 9.2% for 2023, making it the market's second-strongest strategy after private equity, read more   Share: Can crypto alleviate AI's computing crunch? (Megan Woodard/PitchBook News) Generative AI took the venture landscape by storm. Now, it may be dragging down startups and firms as costs soar for computing power. But some investors think they've found the solution: bring Web3 and crypto to AI. Decentralized GPU cloud startups, acting like rental marketplaces for unused computing power, are garnering attention and capital. But some are skeptical. read more   Share: From gravity to gas, VC recharges energy storage Companies working on alternatives to chemical batteries for energy storage received a funding boost in Q2. Overall VC dealmaking in the clean energy market during the first half of the year was roughly in line with the same period in 2023. But the alternative energy storage sector surged in Q2 2024—notching over $582 million across 16 deals, according to our recent Emerging Tech Research. Greater demand for renewable energy, including intermittent sources like solar and wind power, has increased the need for energy storage. The report highlights companies like Highview Power that are generating innovative solutions. read the preview   Share: How PE keeps planes in the air (Mara Potter/PitchBook News) With a resurgence in air travel and a lag in aircraft production, the demand to keep older planes flying is fueling a rise in PE interest in the aerospace maintenance industry. CORE Industrial Partners, a Chicago-based firm targeting the lower middle market, is one investor preparing to wager on this growth. It was founded by John May, who spent 18 years working on deals with institutions including Blackstone and HIG. read more   Share:   Since yesterday, the PitchBook Platform added: 18 Deals 60 People 20 Companies See what our data software can do   The Daily Benchmark: 2018 Vintage Global Real Estate Funds Median IRR 10.55% Top Quartile IRR 15.40% 0.43x Median DPI Select top performers Exeter Europe Value Ventures III Clairmont GP Fund III Invesco Strategic Opportunities III *IRR: net of fees 78 Funds in Benchmark » Check out the latest version of PitchBook Benchmarks   VC Deals   Zepto raised a $340 million round led by General Catalyst. The round values the India-based grocery delivery platform developer at $5 billion. Bridge, a startup developing a stablecoin-based payment platform, raised a $40 million round led by Sequoia and Ribbit, Fortune reported. Micro-nuclear power plant developer Last Energy raised a $40 million Series B led by Gigafund. ThinkCyte, a biotech startup developing scientific instruments for research, raised a Series C totaling $32 million, including a $15 million extension led by Japan Green Investment Corporation for Carbon Neutrality, Kirin Holdings Company and SMBC Venture Capital. Attio, the London-based developer of a customer relationship management platform, raised $33 million in a round led by Redpoint Ventures, Balderton Capital and Point Nine. Agrim, the operator of an agricultural inputs ecommerce marketplace, secured $17.3 million in a round led by Asia Impact, TechCrunch reported.   PE Deals   Phoenix Equity acquired UK cybersecurity specialist Cybanetix. It is the firm's fifth investment via its latest fund. Minsait Payments, the payment unit owned by Indra, could be acquired by London-based PE firm Cinven for around €500 million to €600 million, Spanish newspaper Expansión reported. Carlyle is in talks to sell a minority stake in Sedgwick, a claims management company, to Altas Partners, Bloomberg reported.   Exits & IPOs   Rewatch, a San Francisco-based startup developing AI-powered note-taking and recording software for virtual meetings, has been acquired by Atlassian.   Fundraising   Sozo Ventures, a California-based VC firm investing in e-commerce, fintech and other tech startups, launched its fourth fund targeted at $500 million, according to SEC filings. Crypto investor Robot Ventures, a New York-based VC firm, raised $75 million for its most recent fund. Robot usually targets pre-seed and seed stage investments. Amplify.LA, a VC firm based in Los Angeles, launched its latest fund targeted at $60 million, according to SEC filings. Amsterdam-based Carbon Equity secured €10 million in commitments for its new climate infrastructure fund, which is targeting a €50 million close.   Chart of the Day   Source: Flying high: PE fuels niche aircraft maintenance industry   Who's in the newsletter today? Investors Altas Partners Amplify.LA Asia Impact Balderton Capital Carbon Equity Carlyle Cinven General Catalyst Gigafund Japan Green Investment Corporation for Carbon Neutrality Kirin Holdings Company Phoenix Equity Point Nine Redpoint Ventures Ribbit Robot Ventures SMBC Venture Capital Sequoia Sozo Ventures Companies Agrim Atlassian Attio Bridge Cybanetix Indra Last Energy Minsait Payments Rewatch Sedgwick ThinkCyte Zepto     About PitchBook | Terms of use | Advertise with us | Contact Follow us: This email was sent to abdulkerim.bosnia.business@blogger.com via the PitchBook Platform. Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here. 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