For all you podcast listeners… - Our lead PE analyst, Wylie Fernyhough, was on the latest episode of Capital Allocators to discuss his research on GP stakes and more.
- Also for your queue, lead quantitative analyst Andy White talks about broader US VC trends on PitchBook's In Visible Capital.
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| How farmers are battling sustainability challenges with agtech | | | It's getting hot out there.
News this summer has been filled with stories about drought, wildfires and other effects of climate change on our health, safety and livelihoods.
The food system, in particular, is gaining attention for its role as both a significant contributor to and recipient of these changes. For example, a recent UN study linked food systems to one-third of global greenhouse gas emissions.
So, what technologies are being developed to address these challenges?  | | Click for a larger version of our visual agtech overview. | In a report last quarter, we introduced sustainability challenges and investment opportunities throughout the food system. Our latest research focuses on the sustainability challenges facing farmers and the emerging technologies transforming the agriculture industry. In the note, we find that global food demand is increasing along with population growth, which is expected to reach 9.7 billion by 2050. At the same time, extreme weather events, water shortages and harsh industrial agriculture practices are threatening productivity and long-term farm fertility. To fight back, farmers and other agriculture stakeholders are turning to diverse agtech solutions that mitigate sustainability challenges or help adapt to shifting conditions. Here are a few highlights: - Emerging technologies, including biotech feed additives, field monitoring and analysis tools, and advanced farm equipment are addressing pollution challenges.
- Innovative irrigation solutions, indoor farming strategies, and ag biotech inputs are helping agricultural operations adapt to drought.
- Farms are tackling food waste challenges by identifying new ecommerce sales channels, deploying robotics and automation to perform agricultural tasks, and optimizing farm planning and management with new software tools.
Click to download our free research: "Transformative Agtech and Sustainability Challenges"
Feel free to reach out with any feedback or questions, or if you would like to discuss the research.
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Analysis of Public PE Firm Earnings: Q2
In Q2, Blackstone reported record appreciation in the value of its investments. KKR raised $59 billion last quarter alone, having raised $44 billion in all of 2020.
Everything, it seems, is getting easier for public PE giants these days—and the performance shows it.
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One trend: the timeline for everything has been truncated. Whether it's deploying funds, realizing investments, or the fundraising process in general, everything has shortened and many large funds come back to market quicker than ever.
There's a lot more covered in our latest research on public PE firms, including a thorough breakdown of their latest financials: | | | | | |
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ENTERPRISE HEALTHTECH: After back-to-back record quarters for VC activity, enterprise healthtech investment dropped in Q2.
Cause for concern? Not according to our analysts, as pressure persists to improve patient outcomes while decreasing costs.
Those solutions will largely come from technologies that improve treatment discovery and delivery methods. Highlights from our latest research: - Health insurance tech companies are racing to market and require large amounts of capital to meet regulations and invest in value-based care technology to decrease long-term costs.
- Consumer demand for patient engagement software is high, and these tech-enabled tools enable providers to deliver a robust and flexible experience while limiting labor costs.
- Real-world evidence has the potential across the entire healthcare ecosystem—including for clinical trials, care provision and determining treatment outcomes.
| | | | | | FOODTECH: A record pace of exit activity continues to showcase the maturity of the foodtech sector.
Indian food delivery company Zomato went public last month at an $8 billion valuation, and companies like Instacart and Eat Just are also primed for multibillion-dollar listings—perhaps by the end of the year.
Our latest sector research offers a look into emerging opportunities in the foodtech space: - VC investment of $6.2 billion across 280 deals in Q2 was actually down on a quarterly basis but still very strong historically. Activity was driven by ecommerce and delivery companies.
- Ultrafast delivery, whereby providers promise deliveries of groceries and high-demand convenience items within 20 minutes (and sometimes even 10 minutes!), has seen a massive surge of investment.
- Another early category gaining traction is microalgae, a segment within the alternative protein industry, as food scientists continue to explore new technologies that offer health and environmental benefits.
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How has cybersecurity funding fared amid the recent spate of ransomware attacks?
What's the latest news involving electric vehicle companies and SPACs?
Which geographies are most embracing food delivery?
Join our Emerging Tech analysts on Wednesday for a wide-ranging discussion on new trends within information security, mobility tech and food tech: register here. - Sept. 1: Our fund strategies and quantitative analysts will host a webinar on the investment styles of private managers. Register here.
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Mobility tech analyst Asad Hussain weighs in on recent developments in the carsharing industry, including the news that Turo has confidentially filed for an IPO:
"Carsharing apps offer a significant layer of convenience and accessibility and provide an attractive alternative to the typically cumbersome process of renting a car.
"Relative to traditional car rental agencies, P2P providers do not own and operate vehicles, eliminating the costs of fleet procurement and management. This creates a more easily scalable business model that has the potential to drive higher margins.
"P2P carsharing is typically less expensive than traditional car rentals and creates a low-touch, seamless digital experience.
"As a result, P2P carsharing startups Turo and Getaround are taking market share from the traditional car rental industry, which has struggled from its operations-heavy approach and dependence on business travel.
"Turo, in particular, has benefited from pandemic conditions as consumers shy away from air travel in favor for road trips and renting local cars. As consumers can rent vehicles for multiple days, Turo is a great option for socially distanced vacations.
"Turo's listing would mark the latest of a swathe of EV/mobility companies to go public, mostly through SPAC mergers. The company's decision to forgo a SPAC in favor of a traditional IPO is indicative of a broader cooling of sentiment toward SPACs.
"Our EV/Mobility Price Change Index recorded a 9% loss in the first half of 2021, significantly underperforming the S&P 500's gain of 15.3% over the same period—even as several newly public mobility companies such as Nikola, Lordstown, and Canoo have hit snags."
| | Asad Hussain
Senior Emerging Technology Analyst
Mobility Tech | | | | | |
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Our insights and data featured in the press: - DoorDash continues to expand into new verticals as the world of on-demand evolves. "Amazon can't handle the delivery needs of everyone." [Bloomberg]
- But…the FTC's scrutiny over Uber's Drizly acquisition and Gopuff partnership indicates concern over power consolidation. "For food delivery companies, there's only so many levers they can pull to make money." [Quartz]
- What are the factors supercharging M&A activity? "The combination of cheap financing, high stock prices, and highly confident executives is a recipe for dealmaking." [Private Equity Wire]
- VC investment is growing at the intersection of AI and medical imaging, "but there's still uneven adoption overall and a degree of skepticism from health care providers." [dot.LA]
If you're a media member interested in interviewing our analysts, contact our PR team. | | | | | |
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Highlights from our other research content published over the past few months:
Market updates Thematic research Emerging Technology Research (free previews) Coming next week (subject to change) - Q2 Emerging Technology Indicator (sneak peek)
- Q2 Private Fund Strategies Report
- Emerging Healthtech Opportunities: Real-World Evidence
- ETR: Insurtech
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| | Since yesterday, the PitchBook Platform added: | | 320 Deals | 1278 People | 359 Companies | 25 Funds | | | | | | |
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