This week, we released top-line numbers on US VC activity earlier than ever, with 2021 totals on dealmaking ($330B), exit activity ($774B), fundraising ($128B), valuations, and more.
Get a preview of the data that will be covered in Friday's full release of the Q4 2021 PitchBook-NVCA Venture Monitor:
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| 11 predictions across emerging technology for 2022 | | The technology boom in 2021 pushed stocks and startups to record-high valuations and drove record exit activity. While the pandemic helped accelerate the development and adoption of certain technologies (especially ecommerce and digital communications), a relatively "cheap money" financial environment also likely played a role in the tech frenzy over the past year. As these lofty peaks appear to have abated in recent months, significant dry powder held in VC funds—and no shortage of early-stage technology opportunities—is likely to sustain high levels of technology investment throughout 2022. To provide perspective as to where this capital may be headed, our Emerging Technology Outlook provides key expectations across 11 technology verticals.  | | We expect a big year for carbon tech, especially direct air capture. | Among the mega-themes shaping technology trends in 2022, our analysts expect… - more focus on data preparation for AI/ML.
- continued investment in carbon-reducing technologies.
- higher adoption of personalized medicine and more digital engagement with healthcare providers.
- increased consumption of fermented proteins and other animal-free products.
- improved farm management software.
In addition, our team expects the growing need for IoT-based security to drive record valuations, while passwordless authentication and insurtech startups could be key targets of consolidation.
For more data and analysis, click to download our free 2022 Emerging Technology Outlook.
| | | | | | | | | | 2022 kicks off with two GP stakes deals, while IPOs loom for a pair of PE giants | | GP stakes activity, whereby a private capital firm sells a minority stake to an outside investor, continues to proliferate.
Two notable deals were made known in the first week of the new year: Hunter Point Capital acquired a stake in credit shop Iron Park Capital and Bonaccord Capital Partners has reportedly purchased a stake in London-based credit firm Park Square Capital.
The Iron Park deal reunites the "G" (Bennett Goodman) with the "S" (Tripp Smith) from the famed GSO Capital Partners—now Blackstone Credit.
Tying it all together, the "O" (Doug Ostrover) heads Blue Owl, whose Dyal Capital business is the largest player in the GP stakes space.
Bonaccord's deal with Park Square ($10 billion+ in AUM) illustrates how Bonaccord has successfully partnered with sizable credit managers, including Monroe Capital ($11 billion+ in AUM).
The transaction is one of a few to occur in Europe, perhaps leading the way for additional European managers to sell.
Bonaccord has also completed several other deals over the past year and is proving to have staying power in the mid-market GP stakes space.
Some large private capital firms are choosing to publicly list rather than sell stakes and remain private.
TPG is expected to begin trading next week and CVC Capital Partners—which sold a stake to Blue Owl's Dyal in 2021—is expected to tap public markets in the coming months.
More firms publicly listing means the boon in private capital M&A that we saw in 2021 may extend into 2022 as these firms vie to continue their growth trajectories.
For a more thorough update on GP stakes deal activity, public PE firm IPOs, PE firm M&A, and more, look for our 2021 Annual US PE Breakdown, which comes out next week.
You can also read all of our past GP stakes research.
As always, please feel free to reach out with any questions.
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Why will 2022 be PE's biggest fundraising year ever?
What trends are emerging in strategies like GP stakes and seeding managers?
Our analysts hosted a webinar this week to discuss their 2022 outlook for the US PE industry, including the topics above and more: watch the free replay - Jan. 13: Our emerging tech analysts will be reviewing their 2022 predictions in a webinar: register here
- Jan. 20: Our London-based private capital analysts will discuss their outlook for Europe in the coming year: register here
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Our insights and data featured in the press: - A booming startup market prompts an investment rush for ever-younger companies. [WSJ]
- Why the trend of buzzy billion-dollar firms nabbing sky-high public market valuations isn't likely to cool down. [Forbes]
- Globally, startups raised $671 billion last year, an increase of more than 90% over 2020. [FT]
- "No matter if there's a slight decline or plateau in VC, we expect for it to be a strong year in exits. … There are a lot of ingredients for a strong year in 2022." [Institutional Investor]
If you're a journalist interested in interviewing our analysts or requesting data, contact our PR team. | | | | | |
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Highlights from our other recent research:
Market updates Thematic research Emerging Technology Research Coming next week (subject to change) - Q4 2021 PitchBook-NVCA Venture Monitor
- 2021 Annual US PE Breakdown
- 2022 PitchBook Benchmarks
- Analyzing PE mega-fund performance
- Why SoftBank is dedicating billions for investment in Latin America
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| | Since yesterday, the PitchBook Platform added: | | 400 Deals | 1628 People | 511 Companies | 21 Funds | | | | | | |
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