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In today's Daily Pitch, you'll find: - Will Latin America's most valuable startups deliver the kinds of returns that investors have reaped in other developing markets?
- PE firms sought out sports and entertainment deals in 2021, scoring franchise stakes, music catalogs and Hollywood-backed companies.
- What Europe's PE professionals are expecting in 2022.
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| Meet Latin America's IPO candidates | |  | | (Carlos Alkmin/Getty Images) | | | Latin America's startup world is at a critical juncture following Brazilian fintech Nubank's $44 billion IPO late last year. So we mapped out the region's most valuable startups, any one of which could make a worthy IPO candidate.
The analysis also revealed a gaggle of international investors that are quickly cornering the market for LatAm's new tech elite. (Spoiler: SoftBank is leading the pack.) | | | | | | | | | | Is medtech innovation dead? | |  | | (sesame/Getty Images) | | | The biomedical revolution of the 21st century propelled a record-shattering $44 billion in VC funding for US life sciences companies in 2021. Our latest analyst note examines the capital investment differences between medtech and biotech, delving into why biotech has overshadowed medtech in recent years, and what the future of medtech holds. Among the other takeaways: - While PitchBook defines the life sciences industry as comprising two subsectors—biotech and medtech—they aren't equally weighted from an investment perspective.
- Medtech companies have been receiving a shrinking proportion of life sciences capital in recent years as biotech companies continue to take the lion's share.
- Is investing in medtech startups slowly being written out of the life sciences playbook, or should investors take a second look at a possible resurgence in medtech innovation?
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| Can M&A momentum continue into 2022? | | After a record year in M&A, decision-makers from 400 US middle-market companies and PE firms are bullish that corporate valuations and deal activity will continue to rise in 2022.
Access the Citizens M&A Outlook to discover: - A sector-by-sector breakdown of valuation expectations.
- How pandemic-related headwinds have affected company outlooks.
- Shifts in buyer/seller dynamics and motivations.
Enhance your approach to M&A in 2022 with insights from your peers, as well as three actionable tips to consider moving forward.
Explore the Citizens M&A Outlook | | | | | | | |
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| PE firms flocked to lucrative sports, entertainment deals in 2021 | |  | | (Pgiam/Getty Images) | | | Private equity investments in the sports, media and entertainment industries caught fire in 2021 as firms looked to add sports franchise stakes, music catalogs and Hollywood-backed companies to their portfolios.
As highlighted in our US PE Breakdown, multiple firms focused on scoring minority stakes in sports teams last year as franchises' valuations soared.
Firms were also searching for thriving media companies. In August, Blackstone-backed Next Generation Media Company announced a $900 million buyout of Reese Witherspoon-founded media content provider Hello Sunshine. | | | | | | | | | | Europe's PE forecast: Investors eye 2022 with cautious optimism | |  | | (Dimitri Otis/Getty Images) | | | The European private equity market is looking ahead with hope for another strong year in 2022, yet investors remain realistic about the challenges that could yet upset a still-fragile recovery.
PitchBook London bureau chief Andrew Woodman spoke to PE professionals about what they expect over the next year.
Here are their key takeaways | | | | | | | | | | Senegal has a plastic waste problem. How one man in the country is taking drastic measures to change that. [The New York Times]
As the hype surrounding blank-check companies cools down, investors are looking to get their money back. [The Wall Street Journal]
Benchmark partner Sarah Tavel on how the VC firm is channeling Web 2.0 in its crypto approach. [The Information] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 28 Deals | 91 People | 29 Companies | | | | | | |
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| 2016 Vintage Global Venture Funds with more than $250M | | | | | | |
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| | | Shoplazza has raised $150 million in a Series C1 led by SoftBank's Vision Fund 2. The company offers a SaaS platform designed to help ecommerce merchants build and manage their online stores. | | | | | | | | | Prophecy has raised a $25 million Series A led by Insight Partners. The San Francisco-based company is the developer of a low-code data engineering platform. | | | | | | | | | Zuper has raised a $13 million Series A led by Fuse, TechCrunch reported. Based in the Seattle area, the company is a developer of field management software for residential and commercial service providers. | | | | | |
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| Blackstone, Starwood to purchase extended-stay hotels | | | | | | | | | Francisco Partners to acquire IBM Watson Health assets for $1B+ | | | Francisco Partners has agreed to acquire part of IBM's Watson Health business for over $1 billion, Bloomberg reported. The assets include wide-ranging datasets and products, as well as image software offerings. IBM launched Watson Health in 2015. | | | | | |
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| PetSmart weighs public listing via KKR SPAC merger | | | BC Partners-owned PetSmart is in talks to go public through a reverse merger with a KKR-backed SPAC at a possible $14 billion valuation, including debt, Bloomberg reported. BC Partners acquired PetSmart for $8.7 billion in 2015. | | | | | | | | HIG Capital SPAC axes IPO plans | | | HIG Capital's special-purpose acquisition company, HIG Acquisition Corp II, has withdrawn its registration for a $300 million IPO. The blank-check company was originally intended to target either the technology, media and telecommunications or healthcare sectors. | | | | | |
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