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In today's Daily Pitch, you'll find: - The future of SPACs, the continuing rise in corporate VC and more PitchBook predictions for the venture industry in 2022.
- Thoma Bravo dominated what was a banner year for PE-backed software buyouts.
- A breakdown of where European VC funding landed in 2021.
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| After a year for the record books, what will shape US VC in 2022? | |  | | (peterschreiber.media/Getty Images) | | | The US VC industry shattered records left and right in 2021, as the private markets raced through economic recovery and soared to new heights. What's in store for next year?
Our 2022 US Venture Capital Outlook details seven predictions from PitchBook analysts on the trends that will shape VC in 2022, from the future of SPACs to the continued expansion of corporate investment. The forecasts include: - US investors will make more foreign investments than ever before.
- At least 25% of all 2020 SPACs will not execute a deal prior to the two-year mark.
- More than 1,500 corporate VCs will make a deal in the US this year.
| | | | | | | | | | Thoma Bravo dominates PE's record year for software buyouts | |  | | (kentoh/Getty Images) | | | Private equity bet big on software companies in 2021, but Thoma Bravo outshone all other firms by landing five of the top 10 largest global buyouts in the sector and leading the way in take-private deals.
Software investment has been on a red-hot run, especially since the onset of the pandemic. But the sector is not entirely without risks. | | | | | | | | | | Hot or not: Where European VC funding went in 2021 | |  | | (mikkelwilliam/Getty Images) | | | Venture capital investment in Europe and Israel crossed the €100 billion (around $113 billion) mark for the first time ever in 2021, beating 2020's record by 115%.
Many of the region's biggest economies, including the UK and Germany, doubled their fundraising totals from the previous year. Smaller VC hubs, however, saw some of the biggest boosts as the shift to remote work lessened the importance of location.
Check out our map and details on seven key regions to see where VC money went in 2021. | | | | | | | | | | The pandemic has redrawn corporate policies and caused many major companies to offer work location flexibility. But who goes into the office and when largely depends on where employees fall on the org chart. [Bloomberg]
Meet the new AI auditing startups on a mission to prove that responsibility can also be profitable. [Protocol]
Instant delivery startups have rushed to expand in large cities, resulting in increased expenses and causing many to test major business model changes. [The Information] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 607 Deals | 1552 People | 434 Companies | 23 Funds | | | | | | |
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| 2019 Vintage Global Growth Funds | | | | | | |
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| Former Theranos CEO Elizabeth Holmes found guilty on four charges | | | | | | |
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| Aimmo lands $12M for data labeling tech | | | | | | | | | SoftBank backs Brazil's Abstra | | | Abstra, the developer of a no-code platform for building apps, has raised a $2.3 million round led by SoftBank's Latin America Fund, TechCrunch reported. Founded in 2020, the Rio de Janeiro-based startup was a member of Y Combinator's spring 2021 cohort. | | | | | |
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| Aisling, Court Square to sell Medical Knowledge Group to Novo in $1.1B+ deal | | | | | | | | | Addman Engineering lands Castheon | | | | | | |
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| PitchBook Webinar: 2022 Private Equity Outlook | | Private equity defied all expectations in 2021, beginning with a quick recovery from its slump in 2020 and ending the year on record-breaking numbers. Following these unprecedented results, many are watching the space, interested to see if these trends will continue.
Join our PitchBook experts on Jan. 6 for a discussion on emerging trends, noteworthy PE activity and predictions for what will follow in 2022.
Sign up now | | | | | | | |
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| Amylyx Pharma sets IPO terms | | | Biotech startup Amylyx Pharmaceuticals is seeking to raise up to $175 million at a fully diluted valuation of more than $1.1 billion in its upcoming IPO. Cambridge, Mass.-based Amylyx is developing therapies for ALS and other neurodegenerative diseases. The company was valued at $580 million last year, according to PitchBook data, and has received backing from investors including Viking Global and Morningside. | | | | | | | | Vigil Neuro plans public debut | | | Vigil Neuroscience, a developer of antibody therapies for neurodegenerative diseases, plans to sell 7 million shares for between $15 and $17 apiece in its upcoming IPO. A midpoint pricing would raise $112 million and give the company a fully diluted valuation of about $491 million. Based in the Boston area, the company plans to trade on the Nasdaq under the symbol VIGL. | | | | | |
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"In Q3 2021, valuations in the UK & Ireland across all quartiles paced strongly above 2020 figures. The late-stage median valuation spiked to €15.8 million, 52.9% higher than the peak in 2020. ... It is clear that the UK & Ireland has remained the main VC hub of Europe despite Brexit. Although some operations have had to move back into the EU, VC dealmaking and valuations have developed impressively."
Source: PitchBook's Q3 2021 European VC Valuations Report | | | | | |
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