| |
🎓 PitchBook's university endowment return tracker compares the size and performance of the top 50 university LPs in the US. The new tool shows that the University of California's collection of endowments makes up almost a quarter of the total AUM of all the funds we tracked, but its 10-year returns weren't as top-tier. Explore the dashboard
😕 AI enthusiasm couldn't save CoreWeave's IPO from a lukewarm reception Friday. The company priced well below its expected range and traded flat in its first session. Two of CoreWeave's backers told PitchBook that fears over the company's financials have been overblown. Go deeper
🤝 Musk strikes a deal with himself: xAI bought X in an all-stock deal that valued the social media company at $33 billion and the AI model developer at $80 billion. xAI's chatbot, Grok, has not only been made available to paying customers of X, but is also using the social media network's data to improve its capabilities. Read more
Plus...
• KKR and Japan Investment Corp. land medical device maker Topcon amid Japan's take-private boom
• EQT's latest infrastructure fund closes as the largest such vehicle ever raised in Europe | | | | | | | | | | |
| |
| Is China's $138B fund a catalyst or constraint for private capital? | | China's ambition to dominate the next wave of technological innovation is taking shape with its new 1 trillion yuan (roughly $138 billion) high-tech fund—a state-backed VC initiative targeting such tech sectors as AI, semiconductors, quantum computing and clean energy.
Drawing from past government-led investment programs, our analyst note examines whether the fund will attract co-investment from VC and PE players or crowd them out. Our analysts cover how the vehicle could reshape the private market landscape, influence IPO pathways and impact capital flows in China's most strategic industries. | | | | | | | |
| |
| |
| SVB's latest insights into the private markets | | SVB's funds CFO survey and SVB data reveal trends in LPs' behavior, capital flows, and how funds manage tax-related activities.
Read the report | | | | | | | |
| |
| EQT notches record $23B+ European infrastructure fund | |  | | (Jitendrajadhav/Getty Images) | | | EQT closed the largest-ever infrastructure fund in Europe after collecting €21.5 billion (around $23.3 billion) from investors. It's also the third largest infrastructure vehicle globally.
The record haul boosted Europe's infrastructure fundraising to 81% of last year's level. The fund targets sectors such as digital infrastructure, energy generation and distribution, and decarbonization. | | | | | | | | | | At GDC 2025, attendance was lighter, and AI again commanded attention, with over 60 sessions exploring its role in game development and widespread intrigue among developers about its ongoing impact.
Meanwhile, investors are sitting on significant dry powder, with several gaming-specific funds closing in the months before the event despite deal count falling again in 2024. Nevertheless, funding sources are diverse, our analyst note finds, with PE, corporate VC and nondilutive financing all serving a role.
Across all mediums, growth has slowed, but bright spots remain in emerging markets, direct-to-consumer relationships and upcoming releases such as Grand Theft Auto VI and the Switch 2 console. | | | | | | | | | KKR, JIC land Topcon for $2B+ amid Japan take-private boom | |  | | (FG Trade/Getty Images) | | | KKR and Japan Investment Corp. are taking medical device maker Topcon private in a roughly $2.4 billion deal, marking KKR's second major take-private in Japan in just over a month following its more than $4 billion Fuji Soft pact.
The deal adds to Japan's boom in PE activity, driven by regulatory reforms and growing global investor interest. | | | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 44 Deals | 145 People | 93 Companies | 11 Funds | | | | | | |
| |
The Daily Benchmark:
2018 Vintage Global Debt Funds | | | | | | |
| |
| |
| |
QED Investors co-founder Frank Rotman is transitioning to a become a partner emeritus to focus on founding his own startups.
Waterfall Asset Management has appointed Keerthi Raghavan as co-chief investment officer. He will work alongside current co-CIO Brian Rebello in overseeing investment activity. | | | | | |
| |
| |
Smallcase, an Indian investment platform developer, raised a $50 million Series D led by Elev8 Venture Partners.
Solace, a healthtech company focused on patient advocacy, is raising a roughly $40 million Series B led by Menlo Ventures, valuing the company at over $300 million, Business Insider reported.
Austin-based Allen Control Systems secured a $30 million Series A for its defense robotics technology. The round was led by Craft Ventures.
Manna, a Dublin-based drone delivery startup, raised $30 million in a round led by Tapestry VC and Molten Ventures.
Playback, which operates a live sports streaming platform, raised a $22 million Series A led by Seven Seven Six.
Layer Health, a Boston area-based startup building healthcare AI for medical chart review, secured a $21 million Series A led by Define Ventures.
Bio-insecticide developer Vestaron raised $20 million in new funding from undisclosed investors. | | | | | |
| |
| Don't miss our upcoming webinar | | In this webinar, PitchBook senior analysts Annemarie Donegan and Navina Rajan will be joined by Jenny Melia, executive director of Enterprise Ireland, to discuss findings from the 2024 All In: Female Founders in the European VC Ecosystem report.
Female-founded companies in Europe collectively raised over €10 billion for the fourth year in a row, while a notable drop in deal count for the period reflects continued headwinds across venture markets. Join our webinar as we share PitchBook data that provides additional insights into how female-founded companies are navigating the VC landscape.
Register now to secure your spot. | | | | | | | |
| |
| |
| |
| |
| |
Blackstone is exploring options to sell ISN Software, which could fetch a valuation of $6 billion or more, Bloomberg reported.
I Squared Capital is seeking a $2 billion valuation in a sale of Energia Group, Bloomberg reported.
Morgan Stanley may sell its majority stake in renewable energy developer PNE, currently valued at €543 million, Reuters reported.
Menlo Ventures-backed OfferFit, a New York-based AI-powered marketing specialist, will be acquired by Nasdaq-listed peer Braze for $325 million. | | | | | |
| |
| |
Private credit investor Churchill Asset Management secured $750 million for the third iteration of its collateralized fund obligation.
Fondo Italiano d'Investimento held a €503 million close for Fondo Italiano Consolidamento e Crescita II.
Plug & Play Tech Center teamed with EA Ventures to launch a €20 million fund targeting Spanish startups.
Blackstone's flagship buyout fund closed later than expected and short of its goal, Bloomberg reported. | | | | | |
| |
| |
| |
| |
| |
| In the Thursday newsletter, the incorrect roles were noted in a deal involving Trachte Building Systems and MakoRabco. Trachte has acquired MakoRabco. | | | | | |
| |
| |
| |
| |
No comments:
Post a Comment