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In today's Daily Pitch, you'll find: - An analysis of how startups are charting new opportunities with the collection of real-time health data.
- A new episode of "In Visible Capital," featuring Allocate's Samir Kaji and his take on the shakeup in VC fundraising.
- An exploration of trends in the debt ecosystem through the first half of 2021.
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| Emergence of real-time health data drives startup opportunities | |  | | (Andrey Suslov/Getty Images) | | | The proliferation of mobile health apps, biometric trackers and remote patient-monitoring devices has given rise to large quantities of healthcare data. This can provide real-world evidence that could be used across the healthcare ecosystem for clinical trials, evaluating treatment outcomes and monitoring safety after medical procedures.
Our latest Emerging Tech Research analyst note examines the regulatory landscape, use cases and emerging opportunities for startups focused on such real-world evidence. Key takeaways include: - In all, 57 startups developing RWE-based solutions have raised $1.8 billion in VC funding since 2019.
- Startup opportunities in this area include building proprietary datasets, developing analytical tools, and creating data standardization and management solutions.
- Over the short term, RWE startups will likely focus on datasets than can be monetized the most, such as those targeting illnesses that attract large investments.
| | | | | | | | | | On the podcast: The venture ecosystem's fundraising shakeup | | A new class of investors spanning family offices and wealthy individuals are venture capitalists' limited partners of the future—and their emergence promises to shake things up, says Samir Kaji, a veteran Silicon Valley VC fundraising adviser. - On the latest episode of "In Visible Capital," Kaji tells PitchBook editor-in-chief Alexander Davis that venture capitalists increasingly are opening up their fundraising beyond big institutional partners like pensions and endowments.
- In recent years, the market has undergone a massive shift, as family offices, individuals and independent asset managers move into the venture asset class.
- Kaji, who just launched his own VC-investing marketplace, discusses this growing segment of the private market and its consequences for reshaping the venture ecosystem.
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| A message from SS&C Intralinks | | |
| Bridging the data gap: How LPs and GPs are (finally) connecting on reporting | | The divide was deep and growing worse. Investors were requesting ever more data and transparency into fund activity, while fund managers were struggling under the weight of investors' increasing demands for more frequent reporting and custom data requests.
Intralinks' new white paper, 4 Keys to Better Investor Reporting and Transparency, shows how successful GPs are now leveraging technology innovations and new industry standardized reporting formats to satisfy LPs data requests—all while streamlining processes and saving time and effort. This new paper explores: - Adopting ILPA templates
- PDF versus Excel reporting formats
- Standardization of environmental, social and governance metrics
- How to drive tech-enabled reporting adoption among LPs
Bridge the data gap. Download this white paper now. | | | | | | | |
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| Private debt market remains buoyant after COVID-19 setbacks | |  | | (Peter Schreiber/Getty Images) | | | Private debt fundraising declined across the globe last year during the height of the COVID-19 pandemic, but the 2021 rebound has been swift thanks to a surging economy, liquidity in the credit markets and businesses avoiding default.
Sponsored by the American Investment Council and UMB Fund Services, PitchBook's H1 Global Private Debt Report explores those trends in an analysis of an oft-overlooked alternative asset strategy.
The report includes: - A breakdown of private debt fundraising by fund type, including direct lending and distressed debt.
- A deep dive into the venture debt ecosystem, looking specifically at how venture debt has increasingly emerged as an alternative form of financing for startups over the past decade.
- An analysis of private debt performance, dissecting the rebound of various sub-strategies following the dip in Q2 2020.
| | | | | | | | | | After a dismal decade, the pandemic has given hedge funds a much-needed boost—but will the revival last? [Financial Times]
More and more millennials are turning to farming, introducing new technology to an age-old business. [The Wall Street Journal]
How one of crypto's busiest VCs operates—with no full-time staff. [Forbes] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 450 Deals | 1383 People | 381 Companies | 23 Funds | | | | | | |
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| 2019 Vintage European PE Funds | | | | | | |
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| Palladium Equity Partners makes management moves | | | New York-based Palladium Equity Partners has hired former IFC executive Carlos Reyes as a managing director, appointed partner Eugenie Cesar-Fabian as head of ESG and sustainability, and elevated Dominick Barbieri to Cesar-Fabian's previous role of general counsel and chief compliance officer. The middle-market firm typically targets investments in the services, industrials, consumer and healthcare sectors. | | | | | |
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| Oslo's Gelato hits unicorn status with $240M round | | | Insight Partners has led a $240 million investment in Gelato. The startup's platform allows users to make and ship customized products. Reuters reported that the round values it at over $1 billion. Gelato will use the funds to enter new markets, as well as to expand its local production hubs and products, including 3D printing. | | | | | | | | Marketing analytics startup Adverity pockets $120M Series D | | | Vienna-based Adverity has raised $120 million in a round led by SoftBank's Vision Fund 2, with support from Sapphire Ventures. The startup's data and analytics platform provides insights into a company's marketing, sales and ecommerce performance. The new round brings Adverity's total funding to over $165 million. | | | | | | | | Bike taxi startup rides off with $52M | | | Indian bike taxi startup Rapido has reportedly collected $52 million in Series C funding from Shell Ventures, Yamaha, Westbridge, Nexus Venture Partners and others. The round values the company at $235 million, according to The Economic Times. Founded in 2015, Rapido has more than 25 million app downloads and operates out of over 100 cities. | | | | | | | | | | | | | | | Baffle brings in $20M Series B | | | Baffle has raised $20 million in a round led by Celesta Capital. The Santa Clara, Calif.-based company uses encryption to provide protection for sensitive cloud-based data at all points in the processing timeline. | | | | | |
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| L Squared takes over Crane 1 | | | L Squared Capital has announced the acquisition of Crane 1, a Miamisburg, Ohio-based provider of overhead crane equipment, maintenance and services, from Pfingsten, which had owned the company since 2015. The deal marks L Squared's second investment from its third flagship fund, which brought in $505 million in September 2020. | | | | | | | | | | | | | | | Hudson Hill stakes rental service VTrips | | | Hudson Hill Capital has purchased a minority stake in VTrips, a Ponte Vedra Beach, Fla.-based online vacation rental manager. Founded in 2002, VTrips manages 3,000 vacation rental properties in resort destinations across North America. | | | | | |
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| KKR, KSL Capital to sell resort specialist for $2.7B | | | KKR and KSL Capital Partners have agreed to sell Apple Leisure Group to Hyatt for $2.7 billion in cash. The resort management company's hotel portfolio includes over 33,000 rooms in 10 countries; it also owns a vacation traveler's club with over 110,000 members. | | | | | |
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| Hachette to acquire Workman Publishing | | | Hachette Book Group has agreed to acquire Workman Publishing, one of the nation's largest independent book publishers, for an undisclosed sum. The deal will make New York-based Workman, founded in 1968, Hachette's eighth imprint. Workman comprises publishing houses like Algonquin, Storey Publishing and Timber Press. | | | | | |
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"Over the longer term, the oil and gas space certainly faces challenging prospects. Electric cars could potentially reduce crude oil demand by 25 million barrels per day as internal combustion engine-powered vehicles are replaced. There is also a broad push to move away from single-use plastics."
Source: PitchBook's Q1 2021 Real Assets Report | | | | | |
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