| |
In today's Daily Pitch, you'll find: - An analysis of how electric taxi startups are leveraging emerging technologies that could shake up the ridehailing industry.
- Europe has garnered a world-leading 37% of global micromobility VC deals this year.
- Tusk Ventures CEO and co-founder Bradley Tusk joins the podcast to discuss SPACs, regulatory hurdles and more.
| | | | | |
|
| |
| The future of taxis is electric | |  | | (bubaone/Getty Images) | | | The ridehailing industry is facing growing regulatory pressure to decarbonize, presenting a disruptive threat to incumbents such as Uber and Lyft that do not own and operate electric vehicles.
This has led to a new class of electric taxi startups that leverage e-mobility hubs and emerging technologies such as fleet management software, charging stations and battery storage to maximize vehicle use and improve unit economics.
Our latest analyst note details how e-mobility services utilizing EV fleets and full-time drivers could take over the current outsourced car and driver model. | | | | | | | | | | Europe leads the pack for micromobility VC deals in 2021 | |  | | (Image courtesy of Tier) | | | Investments in European micromobility startups are going through the roof, with the region accounting for more than a third of the world's VC deals in the sector this year.
Across the Atlantic, their US counterparts are struggling to boost momentum, as funding falls to its lowest levels in nearly a decade. | | | | | | | |
|
| A message from RBC Capital Markets | | |
| Biotech and big pharma partnerships: New rules for success | | Strategic partnerships have long been an important contributor to how drugs are discovered. For decades, big pharma companies have been forming alliances with biotech innovators to increase research and development productivity.
However, the dynamics of these partnerships have changed dramatically over the last decade. As biotech and big pharma find new synergies to bring breakthrough treatments to market, RBC's Noël Brown, head of US Biotechnology Investment Banking, and RBC's pharma industry veteran, Greg Wiederrecht, discuss what it takes to ensure a strategic partnership not only survives, but thrives. | | | | | | | |
|
| On the podcast: VC Bradley Tusk on how startups can get their way with regulators | | Tusk Ventures co-founder Bradley Tusk has made a name for himself as a political strategist and early investor in Uber. He has also advised startups and investors on how to navigate the political and regulatory hurdles that many new companies face.
Tusk joins the podcast to discuss with Alexander Davis the importance of assessing regulatory risks for startups, how passion-inspiring tech succeeds, Facebook, the state of the SPAC market and more. | | | | | | | | | | Tiger Global raises $8.8B, while a16z targets $6.5B for new funds | |  | | (z_wei/Getty Images) | | | Money continues to flow into the venture capital ecosystem at a torrid pace, with two of the industry's more active investors—Tiger Global and Andreessen Horowitz—closing or seeking to raise giant funds, according to reports.
The capital will give both firms ample ammunition to continue their dealmaking arms race. See how the two VC powerhouses stack up against each other. | | | | | | | | | | H&F, EQT team up for $4.3B Zooplus takeover | |  | | (Carol Yepes/Getty Images) | | | After making competing offers, Hellman & Friedman and EQT have opted to make a joint bid for Zooplus that values the German pet supply company at €3.7 billion (around $4.3 billion). - The offer of €480 per share comes two weeks after H&F upped its cash bid to €470 per share, matching EQT. The joint bid is an 85% premium over Zooplus' three-month volume-weighted average share price. KKR was also in talks to buy the Munich-based company but dropped out last month.
- Zooplus sells its products in 30 European countries. In its half-year report, the company said it is benefiting from the rise in pet adoptions driven by the pandemic. The number of new dog registrations in Germany increased in June 2020 by 25% year-over-year, according to the report.
- Other PE firms are tapping into this trend. Last month, CVC Capital Partners reportedly reached an agreement to buy Medivet, a UK veterinary clinic chain, from Inflexion Private Equity in a deal worth over £1 billion (about $1.4 billion).
| | | | | | | | | | Silver Lake leads $1B+ round for Thrasio | |  | | (Tanja Ivanova/Getty Images) | | | Silver Lake has led an over $1 billion Series D round for third-party direct-to-consumer brands acquirer Thrasio, continuing the company's rapid fundraising growth. The round values the company at more than $5 billion, Bloomberg reported. - Thrasio buys and scales up the operations of online sellers that typically have between $1 million and $3 million in annual revenue, mainly through sales on Amazon's platform. The brand buyer has now raised over $3.4 billion since its founding in 2018.
- Thrasio, based in Massachusetts, has established operations in the UK, Germany, China and Japan and has grown its portfolio to over 200 brands, acquiring an average of 1.5 businesses per week.
- Advent International, Thrasio's largest shareholder, also participated in the round.
Related read: Thrasio gets $750M for its Amazon third-party seller gambit | | | | | | | | | | Thousands of pages of internal documents detail how Facebook employees say leadership has not adequately met their concerns about the platform. [The Atlantic]
SoftBank's $100 million Opportunity Fund focuses on companies with Black, Latinx and Indigenous founders. Is it making an impact? [Protocol]
Chewy CEO Sumit Singh discusses the pandemic pet boom and balancing growth with a customer-centric culture. [Fortune] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 492 Deals | 1784 People | 515 Companies | 30 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2014 Vintage Global Buyout Funds | | | | | | |
|
| |
| A message from World Business Chicago & BLCK VC | | |
| Engage, empower and advance Black investors | | 2021 has been a pivotal year for venture capital in the US startup ecosystem. According to the NVCA, $240 billion of VC funding has been invested into nearly 13,000 deals to date. Although 2021 was a historic year for VC, Black entrepreneurs have only raised $1.8 billion during H1 2021. This underscores the need to mobilize more capital from within our community.
BLCK VC is transforming VC to mirror the diverse demographics of the US. VC is a crucial component of achieving economic equality: It is a vehicle to build wealth, develop future leaders and strengthen communities. For the first time ever, the Chicago Venture Summit partnered with BLCK VC, making it the largest Chicago Venture Summit ever.
Learn more about BLCK VC here. | | | | | | | |
|
| |
| ABL Space hits $2.4B valuation | | | ABL Space Systems, a developer of launch vehicles for the satellite industry, has raised $200 million at a $2.4 billion valuation. The El Segundo, Calif.-based company is backed by investors including Bells Ventures, T. Rowe Price and New Science Ventures. ABL was valued at over $1.3 billion in March, according to PitchBook data. | | | | | | | | GrubMarket boxes up $145M Series E | | | Foodtech startup GrubMarket has raised $145 million from investors including BlackRock and Pegasus Tech Ventures. Founded in 2014 and based in the Bay Area, the company is the creator of a food delivery platform that's used by grocery stores, restaurants, farms, individual consumers and others in the US and Canada. The round values GrubMarket at more than $1 billion. | | | | | | | | Teachmint books $78M for edtech platform | | | Teachmint has raised a $78 million Series B co-led by Vulcan Capital and Rocketship.vc. The funding reportedly values the startup at $500 million. Bengaluru-based Teachmint provides a teaching infrastructure platform that helps educational institutions digitize content and conduct live classes. The startup raised $20 million in July. | | | | | | | | Cedilla Therapeutics adds to Series B | | | | | | | | | Tiger Global leads $25M Series A for Selfbook | | | Selfbook has raised $25 million in a round led by Tiger Global. The new funding propels the company's valuation to $125 million. Founded in 2018 and based in New York, the business offers a booking platform to help hotels manage payments and boost customer engagement. | | | | | |
|
| |
| |
| EIG to buy 10% stake in Australian Pacific LNG for $1.6B | | | EIG Partners has agreed to acquire a 10% stake in Australian Pacific LNG from Origin Energy Limited for $1.6 billion. The company, which provides liquified natural gas to Asia and gas to Australia's domestic market, is the largest LNG project by liquefaction capacity on Australia's eastern seaboard. Based in Washington, DC, EIG typically targets investments in the global energy and infrastructure sectors. | | | | | | | | Beringer lands $300M majority stake in Benzinga | | | Beringer Capital has purchased a majority stake in investment news platform Benzinga for $300 million. Founded in 2010 and based in Detroit, Benzinga has a monthly readership base of nearly 25 million people. | | | | | | | | VSS Capital offloads Coretelligent to Norwest Equity Partners | | | VSS Capital Partners has sold managed IT solutions company Coretelligent to Norwest Equity Partners. Founded in 2006, Massachusetts-based Coretelligent provides IT support, cybersecurity, backup and disaster recovery, and cloud services to companies in a variety of sectors. VSS had backed the company since 2016. | | | | | | | | LLCP sells Caring Brands to Wellspring Capital | | | Levine Leichtman Capital Partners has sold home healthcare services franchisor Caring Brands to Wellspring Capital. The Sunrise, Fla.-based company operates under three names: Interim HealthCare in the US, Bluebird Care in the UK and Ireland, and Just Better Care in Australia. It owns over 585 locations that are operated by more than 290 franchise owners. LLCP had backed the company since 2015. | | | | | |
|
| |
| |
| | | Sneaker maker Allbirds has set its IPO terms and plans to sell shares at between $12 and $14 apiece. At the top of that range, the company would have a valuation of over $2 billion and would receive proceeds of about $269 million. Allbirds has raised over $200 million in private funding and was last valued at $1.7 billion in September 2020, according to PitchBook data. | | | | | | | | Sonendo targets $125M in IPO | | | | | | |
|
| |
| Advent eyes $25B for next flagship fund | | | Advent International is targeting about $25 billion for its next flagship fund for which it will likely be seeking commitments starting next year, Bloomberg reported. The firm closed its ninth global private equity fund at $17.5 billion in 2019. | | | | | | | | Francisco Partners targets $2B for latest Agility fund | | | Francisco Partners is targeting $2 billion for its third Agility fund, which is devoted to smaller technology deals, The Wall Street Journal reported. The firm closed its previous Agility fund at $1.5 billion in 2020. | | | | | | | | Social Impact Capital closes $42M fund | | | New York-based Social Impact Capital has raised $42 million for its Fund I. The early-stage firm has backed companies including blockchain operator Topl and Andela, an operator of a global network platform for remote engineers. | | | | | |
|
| |
| Cameo acquires celebrity merchandising startup Represent | | | Cameo has agreed to acquire Represent, a developer of a platform for official celebrity merchandise. Backed by investors including GV and Kleiner Perkins, Cameo allows users to purchase personalized videos from celebrities and was valued at $1 billion in March, according to PitchBook data. | | | | | |
|
| |
| |
|
No comments:
Post a Comment