| |
In today's Daily Pitch, you'll find: - Parent-tech startups have raised nearly $1.4 billion this year, as VCs' interest in the vertical grows.
- What's driving the rapid rise in mega-exits for AI and machine learning startups?
- A fan-led review, commissioned by the UK government, calls for a regulatory overhaul of English soccer that could impact the appeal of future PE investments into clubs.
| | | | | |
|
| |
| Parent-tech startups on the rise with VCs after pandemic upheaval | |  | NEA partner Vanessa Larco, pictured with her two children, expects to see funding in parent tech startups continue to rise.
(Courtesy of Vanessa Larco) | | | Growing ranks of women in VC, coupled with the added challenges of child care during lockdowns, are shining a spotlight on the need for more tech-enabled offerings for modern parents. - In 2021, VC-backed parent-tech companies in the US have raised nearly $1.4 billion—more than in the previous four years combined.
- "It's no coincidence that the more women you get in venture, the more of these parenting-tech startups get funded because a lot of parent-related tasks fall on women," said NEA's Vanessa Larco.
| | | | | | | | | | What's driving the AI & ML mega-exit boom | |  | | (monsitj/Getty Images) | | | The rapid increase in mega-exits of AI and machine learning startups demonstrates promising areas for private companies to apply AI & ML, including autonomous vehicles, information security and IT operations.
Mega-exits in the sector have tripled from eight to 26 year-over-year through the third quarter of 2021, with deal value quintupling to $153.3 billion.
Our latest analyst note explores leading use cases for AI mega-exits and why companies that use deep learning as their primary AI architecture are on pace to overtake supervised machine learning startups in mega-exits by 2022. | | | | | | | |
|
| A message from Elements Global Services | | |
| Fast track your startup portfolio with Elements | | Enable your portfolio companies to get one step ahead of the competition and scale at speed with Elements' direct Employer of Record solution.
Elements' pioneering direct Employer of Record solution enables startups and portfolio companies to discover new global opportunities and accelerate their growth in full compliance with local regulations. Elements streamlines the process of onboarding, managing and paying employees worldwide and gives startups more time to focus on their core business strategies.
Learn more about successful expansion strategies and the value Elements' direct Employer of Record solution can give your portfolio in over 160 countries.
Read the Employer of Record Handbook | | | | | | | |
|
| Didi's US departure shifts IPO train into reverse | |  | | (Spencer Platt/Getty Images) | | | Ridehailing leader Didi Global is planning to pull its New York-listed shares and go public in Hong Kong as competing US-China regulatory agendas leave Chinese companies with little room to maneuver. - A recent surge in Chinese companies listing in the US came to an abrupt halt over the summer as Beijing's tech crackdown intensified. Valued at nearly $68 billion in its IPO, Didi was the largest of a cohort that included trucking platform Full Truck Alliance and real estate heavyweight Beike.
- Last week the SEC finalized rules that require foreign companies to open their books to US regulators. SEC Chair Gary Gensler wrote in a September op-ed that 270 companies in China and Hong Kong could be booted from US exchanges by early 2024 if they do not comply.
- The worsening outlook has hammered the shares of giants like Alibaba and Pinduoduo. Chinese tech stocks now trade at deep discounts to their US counterparts, Bloomberg reported.
| | | | | | | | | | Review puts investment in English soccer under the microscope | |  | | Fans cheer for Newcastle United, whose recent acquisition spotlighted one of the issues raised in the UK government review. (Ian MacNicol/Getty Images) | | | A fan-led review is calling for a regulatory overhaul of English soccer, which may impact the appeal of future PE investments into clubs.
The review, commissioned by the UK government, recommends the establishment of a so-called Independent Regulator for English Football that would both oversee financial regulation and assess who can be the owner of an English soccer club.
The review also calls for a better distribution of wealth in the sport, potentially changing a system that has disproportionately benefited the most elite teams. | | | | | | | | | | How a pixel-art revival is building a new internet aesthetic out of an older era. [The New Yorker]
Details on the medical care of hundreds of millions of global patients are piling up in electronic health records. Now healthcare professionals are beginning to tap the treasure trove of information to treat people in real time. [The Wall Street Journal]
Meet Michael Silvester, a Twitter wildfire watcher in New Zealand who tracks California's destructive blazes. [Wired] | | | | | |
|
| |
| |
| |
| |
| |
| |
| 2014 Vintage Global Growth Funds | | | | | | |
|
| |
| |
| LingoAce collects $160M across two rounds | | | | | | | | | SoftBank leads $50M round for Clarity AI | | | Sustainability tech startup Clarity AI has announced $50 million in funding led by SoftBank's Vision Fund 2, with participation from Fifth Wall's ClimateTech Fund and other investors including BlackRock. The round, which closed in August, values the company at $450 million. | | | | | | | | Coda Biotherapeutics locks down $28M | | | | | | | | | Skincare tech startup Droplette secures $15M+ | | | | | | | | | Singapore's AAGV raises $12.5M | | | | | | | | | Porsche's CVC arm backs sustainability-focused 1Komma5 | | | Porsche Ventures has invested an undisclosed amount into 1Komma5, a German sustainable energy startup seeking to enable carbon-neutral homes. | | | | | |
|
| |
| |
| Airtable to be valued at $11.7B | | | Collaboration software company Airtable is in talks to raise more than $700 million in a new round led by hedge fund XN LP, The Information reported. The San Francisco business would be valued at $11.7 billion in the new round, up from $5.8 billion earlier this year, according to PitchBook data. Silver Lake, T. Rowe Price and Coatue are also reportedly investing in the round. | | | | | | | | Advent, GIC withdraw $8B Sobi takeover offer | | | Advent International and Aurora, an investment vehicle of Singapore sovereign wealth fund GIC, have reportedly withdrawn their $8 billion takeover offer for Swedish Orphan Biovitrum, a maker of drugs for rare diseases. Shares in the company fell over 24% following the news. Sobi's therapies are primarily used for hematology, immunology and specialty care. | | | | | | | | Carlyle stakes laser specialist Resonetics | | | The Carlyle Group has acquired a 50% stake in medical device maker Resonetics in a deal that values the company at around $2.25 billion. Founded in 1987, Resonetics has designed and built over 500 medical laser workstations. The company is also backed by GTCR. | | | | | |
|
| |
| |
| AmEx GBT to merge with Apollo-backed SPAC | | | | | | | | | Apax to hand off Swiss lab services company Unilabs | | | Funds advised by Apax Partners have agreed to sell Unilabs, a Swiss provider of laboratory and imaging diagnostics services, to AP Moller Holding, the parent company of the Maersk family's Danish AP Moller Group. Founded in 1987, Unilabs employs over 12,000 people across 15 countries. | | | | | | | | Sun Capital seals sale of drywall supplier | | | An affiliate of Sun Capital Partners has completed the sale of AMES Taping Tools to GMS. Founded in 1939, AMES is a provider of automatic taping and finishing tools and related products for the drywall finishing industry. | | | | | |
|
| |
| |
"The recovery of first-time fundraising reflects optimism in the PE fundraising market overall, as LPs regain confidence to invest with new managers. First-time funds accounted for 13.8% of fund closes in H1 2021, up from 8.5% in 2020, though this bump is also partially attributable to fundraising delays in 2020."
Source: PitchBook's Q2 2021 US PE Middle Market Report | | | | | |
|
No comments:
Post a Comment