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In today's Daily Pitch, you'll find: - An analysis of how electric vehicle battery recycling is expected to expand, and how it could give the environment a boost.
- A look at where Greylock Partners has been investing its seed-stage funds.
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| How battery recycling could boost electric vehicles, environment | |  | | (Fritz Jorgensen/Getty Images) | | | Battery recycling will play a crucial role in helping the automotive industry shift from internal combustion to electric vehicles. In addition to the environmental benefits of reducing waste, EV battery recycling also has the potential to decrease exposure to unreliable supply chains.
Investors are already recognizing the opportunity, and the market for EV battery recycling is expected to grow from $2 billion in 2021 to $27.3 billion in 2030, representing a CAGR of 33.8%.
Our latest analyst note includes a deep dive into battery recycling methods, notable VC deals and how the industry is likely to become more profitable over time. | | | | | | | | | | Where Greylock has been placing its seed-stage bets | |  | | (rodkosmos/Getty Images) | | | | Last month, Greylock Partners announced that it had raised $500 million for seed startups. The firm said that backing seed-stage companies has become an increasingly important strategy. We've put together a visual representation of Greylock's recent seed deals. | | | | | | | |
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| A message from Twin Brook Capital Partners | | |
| The value of an all-weather partner | |  | | (Photo by Matthew Gilson/Middle Market Growth) | | | | Twin Brook's Pete Notter, Betsy Booth and Chris Martin discuss the value of experience and a long-term view in the latest issue of Middle Market Growth's Middle Market DealMaker magazine. | | | | | | | |
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| VC, PE firms resort to salary hikes amid historic quitting spree | |  | | (Chalirmpoj Pimpisarn/Getty Images) | | | The ongoing tidal wave of employees quitting their jobs in search of more money and flexibility hasn't spared investment firms.
New data shows that 27% of venture capital, corporate venture capital and private equity firms lost a partner or key recruit in 2021, according to a recent J.Thelander-PitchBook survey of more than 760 respondents.
Find out more about where those who resigned went, and how compensation at VC firms changed between 2020 and 2021. | | | | | | | | | | Here's how Facebook co-founder Dustin Moskovitz built a second fortune. [Bloomberg]
Many developers are bargaining on a decentralized future for the internet, but which blockchain will be running the show? [Financial Times]
Why researchers and investors are calling for an end to private equity's opaque practices. [Institutional Investor] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 45 Deals | 133 People | 38 Companies | | | | | | |
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| 2011 Vintage Global VC Funds-of-Funds | | | | | | |
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| A message from InCloudCounsel | | |
| Guide: The top 10 terms in side letters | | In this guide, InCloudCounsel has outlined key side letter terms, highlighted some of the challenges in complying with those terms and assessed the potential operational impact for GPs.
While these are just a handful of the most important provisions commonly found in side letters, GPs often deal with thousands of individual obligations to multiple LPs across multiple funds all at the same time.
How are you staying on top of it all?
Download the guide today | | | | | | | |
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| AlphaSense picks up $180M | | | AlphaSense has raised a $180 million Series C co-led by Viking Global and Goldman Sachs. The New York-based company is the developer of a market intelligence and financial search engine platform. | | | | | | | | Built Technologies nabs $125M | | | Nashville-based Built Technologies has raised a $125 million Series D led by TCV. The funding values the company at $1.5 billion. Built is the developer of a lending platform designed to help lenders, property developers and builders manage construction loans. | | | | | | | | All Day Kitchens cooks up $65M | | | Lightspeed has led a $65 million Series C round for All Day Kitchens. Based in the Bay Area, the company operates a network of satellite kitchens that allows restaurants to more easily offer their food in new neighborhoods. All Day was valued at $104.9 million in September 2020, according to PitchBook data. | | | | | | | | Materialize secures $60M Series C | | | Materialize has raised $60 million in a round led by Redpoint Ventures. Founded in 2019, the New York-based company operates a database designed to help SQL developers build applications with real-time data. | | | | | | | | | Vareto has raised $24 million across its seed and Series A rounds led by Menlo Ventures and GV, respectively. Founded in 2020, the California-based company operates a financial planning and analysis platform. | | | | | |
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| GTCR seals deal for PPC Flexible Packaging | | | GTCR has acquired PPC Flexible Packaging, an Illinois-based provider of flexographic printing and converter of flexible films, bags, pouches and prototype packaging. Founded in 2017, PPC operates 10 manufacturing facilities throughout the US and South America. | | | | | | | | TPG, Johor Corp. circle Malaysia's KPJ Healthcare | | | TPG and Malaysian state-owned investment firm Johor Corp. are considering taking Malaysia's KPJ Healthcare private, Bloomberg reported. KPJ shares spiked over 10% in trading following the news of the potential deal. | | | | | |
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| First Watch raises $170M+ in IPO | | | Advent International-backed breakfast and lunch restaurant chain First Watch has raised over $170 million in its IPO after pricing 9.5 million shares at $18 each. The Florida-based chain has more than 420 restaurants in the US. | | | | | | | | Sun Capital eyes sale of Flamingo Horticulture at $1.2B value | | | Sun Capital Partners is reportedly seeking a buyer for Flamingo Horticulture, a core supplier of flowers and vegetables to UK supermarkets, in a deal that could value the company at more than €1 billion (about $1.2 billion), Bloomberg reported. Flamingo runs flower and vegetable farms in Kenya and South Africa. | | | | | |
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