| | | | | The Daily Pitch: VC, PE and M&A | | June 30, 2025 | | The Daily Pitch is powered by PitchBook's industry-defining research and best-in-class data | | | | | | | 🦄 Y Combinator grad Gumloop has an important hiring decision to make. The AI-driven workflow automation startup has a vision to become a unicorn with just 10 people on its full-time staff—right now, it has nine. The allure of an extremely nimble team hitting it big has long been a tenet of the scrappy startup mentality, and AI has put it on steroids. Can it really happen?
⛵ PE-backed IPOs have surged in North America in 2025, with total value already reaching $97.4 billion across 16 listings. The picture is less optimistic in the Asia-Pacific and EMEA regions, where volatility and regulatory concerns have slowed IPO activity. Full story
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• European private credit lender Pemberton is targeting cash-strapped US PE firms | | | | | | | | | | | | | | Asia-Pacific private markets showing bright spots | | Amid rising US-China tensions and other shifting geopolitical tides, investors are redefining their strategy across the Asia-Pacific region. But opportunity is emerging from disruption, according to our 2025 APAC Private Capital Outlook: Midyear Update.
Japan stands out as a regional bright spot, offering robust PE and credit activity along with a maturing VC ecosystem. Meanwhile, China and Southeast Asia continue to face headwinds from political friction and liquidity challenges. | | | | | | | | | A message from Columbia Business School Executive Education | | | | AI summer school: It's time to graduate from email prompts | | Despite all the hype, most professionals are still just scratching the surface of AI's business impact.
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Columbia Business School Executive Education is not affiliated with PitchBook. | | | | | | | | | European private credit lender targets cash-strapped US PE firms | |  | | (Kinga Krzeminska/Getty Images) | | | Pemberton, a London-based private credit lender, is launching a GP financing business in the US that aims to provide capital to cash-strapped PE managers.
The lender sees increased interest from US GPs in raising external capital amid the ongoing PE exit drought. | | | | | | | Infrastructure leads as real assets fundraising builds | | Real assets managers collected $52 billion across 18 funds in the first quarter, matching nearly half of last year's total haul for the strategy. This momentum—largely due to a handful of outsized closes—may not be sustainable for the rest of 2025. But real assets funds are still forecast to reach up to $3 trillion in AUM by 2029, according to our recent report on the market.
Digging deeper, three trends could continue to drive infrastructure investors in the space: decarbonization, digitalization and deglobalization. The report also covers fundraising for the energy transition and digital infrastructure sectors, oil and gas dealmaking, and North American and European infrastructure performance. | | | | | | | | | | | | Since yesterday, the PitchBook Platform added: | | 77 Deals | 406 People | 211 Companies | 9 Funds | | | | | | | | | | The Daily Benchmark: 2019 Vintage European PE Funds | | | | | | | | | | | | | | | | | Tacta Systems, a Palo Alto-based startup that develops tactile skills for robots, raised $75 million in funding from a seed and Series A round backed by Matter Venture Partners, B Capital, America's Frontier Fund and others.
Gensmo, a New York-based startup developing an AI agent for fashion, has raised $60 million in seed funding from undisclosed backers.
Clarify, a Seattle-based AI enterprise SaaS company, raised $22.5 million in funding from USVP, Gradient, Madrona and others.
DataBahn.ai, a Dallas-based cybersecurity provider for large enterprises, has raised a $17 million Series A from Forgepoint Capital.
Handspring, a New York-based digital mental healthcare provider, raised a $12 million Series A led by Cobalt Ventures.
Seattle-based Klutch AI, which develops AI agents for the construction industry, raised $8 million in seed funding led by Bain Capital Ventures and Bling Capital. | | | | | | | | | Catch our next series of webinars | | Hear our expert analysts break down shifts in private market expectations at the halfway mark of 2025. From increased uncertainty to volatile global markets, get the timely coverage you need to make informed decisions.
Register now to secure your spot. | | | | | | | | | | Trinity Hunt Partners-backed Argano, a digital services consultancy, acquired Twelve Consulting Group.
Bregal Sagemount made a growth investment in Extra Duty Solutions, a Connecticut-based provider of off-duty program administration and scheduling software for law enforcement and public safety agencies.
CenterGate Capital invested in The Marena Group, a Georgia-based provider of medical-grade compression garments, shapewear and activewear for post-surgical recovery.
Exonas Capital invested in VFG Advisory, an accounting and taxation services provider. The deal was backed by Avante Capital Partners and Brightwood Capital Advisors, who contributed debt and equity financing.
Mill Point Capital acquired SS8 Networks, a California company specializing in intelligence platforms for criminal investigations.
B. Riley Financial sold its advisory services unit, GlassRatner, to TorQuest Partners for $117.8 million.
STG agreed to acquire Movable Ink, a marketing services provider.
Seoul-based JKL Partners is nearing a deal to acquire London Bagel Museum, a popular South Korean bagel chain, for slightly over 200 billion won (about $150 million), Korea Economic Daily reported. | | | | | | | | | | Meta is in talks to purchase VC-backed PlayAI, an AI voice replication startup, for an undisclosed amount, according to Bloomberg.
Wynnchurch Capital sold Northstar Aerospace, a manufacturer of aircraft parts, to GE Aerospace.
ChrysCapital-backed Credila Financial Services, an education loan provider, filed draft papers with the Securities and Exchange Board of India to raise 50 billion rupees (about $600 million) through an IPO, according to The Economic Times.
Warwick Capital Group has hired Moelis to explore a sale of New Season Health, Axios reported.
Webster Equity is for the second time exploring a sale of addiction treatment provider BayMark Health, according to Axios.
Carlsmed, a medical implant device startup whose backers include USVP and B Capital, has filed to go public on the Nasdaq.
VC-backed Vartana, a payments platform startup, has been acquired by Capchase for an undisclosed amount.
HIG is targeting £800 million (about $1.1 billion) for the sale of Interpath Advisory, a London-based financing advisory, the Financial Times reported.
| | | | | | | | | | | Halogen Ventures, an early-stage firm led by Jesse Draper, raised $30 million for its third flagship fund to invest in companies with women founders. | | | | | | | | | | Comcast agreed to sell its Sky Deutschland unit to RTL Group for up to $617 million, following a trend of consolidation in the media industry driven by the global shift toward streaming platforms, the WSJ reported.
DNOW agreed to acquire MRC Global in an all-stock transaction valued at $1.5 billion, including debt. The combined company will span over 350 service and distribution locations across 20+ countries, catering to energy and industrial sectors, Reuters reported. | | | | | | | | | | | | | | | | | | Who's in the newsletter today? | | People | | | | Investors | | | | Companies | | | | Service Providers | | | | | | | | | | | | |
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