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In today's Daily Pitch, you'll find: - Coller Capital is looking to raise $1.4 billion for its inaugural fund dedicated to private debt secondary deals as the global secondaries market heats up.
- VC funding for HR tech is maintaining its momentum in 2022 as more employers focus on diverse workforces and remote work arrangements.
- Money transfer specialist Zepz plans to go public in the US instead of its native UK, in a setback for policymakers trying to entice more tech startups to list in London.
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| Tracking healthtech startups' partnerships with corporations, agencies and more | |  | | (Mint Images/Getty Images) | | | Partnerships represent a key strategy for business development and can lend important insight relevant to market trends and growth opportunities. Our new Healthtech Partnership Tracker seeks to provide an extended list of recently announced partnerships between healthtech companies and other healthcare stakeholders, such as corporations, government agencies and insurers.
We also provide an overview of partnership trends with an analysis of key partnership types. | | | | | | | | | | Coller Capital raises $1.4B credit secondaries fund as LPs seek liquidity | |  | Secondary investor Coller Capital is headquartered in London.
(Gary Yeowell/Getty Images) | | | While the majority of secondary activity remains PE-related, in the past couple of years private debt transactions have grown to become a notable part of the market.
Private equity secondary investor Coller Capital is nearing the close of its inaugural fund dedicated to private debt secondary deals. Dubbed Coller Credit Opportunities I, the vehicle is expected to collect $1.4 billion in investor commitments. | | | | | | | |
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| A message from Allvue Systems | | |
| Six private equity trends to watch in 2022 | | Private equity has quickly rebounded from its slight pandemic-related dip, but COVID-19 has still left its mark on the asset class.
In the new infographic 6 Private Equity Trends to Watch in 2022, Allvue Systems takes a closer look at the private equity trajectory for 2022, identifying key areas of focus including: - How ESG is increasingly becoming an integral part of strategies.
- Why more contracts are including material adverse change clauses.
Read it here | | | | | | | |
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| VC funding for HR tech soars amid focus on diversity, remote work | |  | | (Feodora Chiosea/Getty Images) | | | HR tech had an exceptionally robust 2021 as companies in the sector stepped up to help employers hire diverse workforces and navigate hybrid or remote work arrangements.
Last year, venture investors funneled more than $12.3 billion into global HR tech startups, according to PitchBook data. So far, that momentum has carried over into 2022. | | | | | | | | | | Setback for London as UK fintech specialist Zepz eyes US IPO | |  | | (awf8/Getty Images) | | | Money transfer specialist Zepz is planning to go public at a $6 billion valuation in the US instead of listing in its native UK, Bloomberg reported.
The move will be a setback for UK policymakers who have been trying to entice more UK-based tech startups to list in London.
Europe as a whole saw an unprecedented wave of VC-backed listings last year, with around 186 public listings raising €117.3 billion (about $132.6 billion), according to PitchBook's Annual 2021 European Venture Report. Unfortunately, this has been blighted by poor performance. | | | | | | | | | | How the "Great Resignation" is forcing many businesses to rethink their hiring practices. [Fortune]
Tiger Global isn't looking to bet on original ideas or companies just getting off the ground. It's all a part of the firm's winning strategy, writes financial journalist and author Sebastian Mallaby. [The Information]
Last year, a San Francisco-based nonprofit began a basic-income pilot. Here's a look at what happens when you give unhoused people monthly $500 checks. [Fast Company] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 574 Deals | 1843 People | 553 Companies | 24 Funds | | | | | | |
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| 2011 Vintage Global Real Estate Funds | | | | | | |
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| Fed vice chairman Randal Quarles rejoins Cynosure | | | Randal Quarles has rejoined The Cynosure Group as executive chairman. Quarles co-founded the Utah-based independent alternatives asset manager in 2014 before serving as vice chairman of the Federal Reserve System from 2017 to 2021. Quarles was previously also a partner at The Carlyle Group. | | | | | |
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| NFT startup Pixel Vault secures $100M | | | Pixel Vault has raised $100 million from Velvet Sea Ventures and 01A. The company plans to launch an NFT development platform that will enable artists, creators and collectors to participate in the ownership of digital content. | | | | | | | | | | | | | | | | | | | | | | Pecan AI brings in $66M Series C | | | Pecan AI has raised $66 million in a round led by Insight Partners. Based in Tel Aviv, the company is the developer of a predictive analytics platform for business intelligence analysts. Pecan was valued at $118 million in April, according to PitchBook data. | | | | | | | | Insight Partners leads $56M round for RudderStack | | | RudderStack, the creator of an open-source customer data platform for developers, data analysts and product teams, has raised a $56 million Series B led by Insight Partners, with support from S28 Capital and Kleiner Perkins. Based in the Bay Area, the company was valued at $101 million in June, according to PitchBook data. | | | | | | | | Torii collects $50M in Tiger Global-led round | | | Torii has raised a $50 million Series B led by Tiger Global. The New York-based company offers an automated SaaS management platform designed to help businesses manage cloud applications. | | | | | |
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| Carlyle to pick up iStar's net lease business | | | An affiliate of The Carlyle Group's global credit unit has agreed to acquire a portfolio of net lease assets from iStar for $3.07 billion. The transaction is expected to close in Q1 2022. | | | | | | | | TPG Rise Climate scores $500M stake in Nextracker | | | TPG's Rise Climate Fund has taken a $500 million stake in Nextracker from contract manufacturing company Flex. The deal represents an implied enterprise value of $3 billion for Nextracker, which offers solar tracking and software solutions for solar projects worldwide. | | | | | | | | Investor group lands Carlyle's PurposeBuilt Brands stake | | | | | | | | | Paceline Equity acquires flooring manufacturer | | | An affiliate of Paceline Equity Partners has acquired AHF Products. The Pennsylvania-based company is a manufacturer of vinyl plank, laminate and other commercial flooring products. | | | | | | | | Wynnchurch backs pool construction company | | | | | | |
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| Great Hill Partners closes eighth fund at $4.6B+ | | | Great Hill Partners has closed its eighth flagship fund on $4.65 billion. The fund will focus on investments in the software, digital commerce, financial technology, healthcare and digital infrastructure sectors. Great Hill closed its seventh fund on $2.5 billion in 2019. | | | | | |
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"Software late-stage pre-money valuations climbed to a lofty €27.2 million through Q3 2021, nearly double the record figure from 2020. Disruptive software businesses targeting longstanding sectors have been a core component of the growing VC ecosystem."
Source: PitchBook's Q3 2021 European VC Valuations Report | | | | | |
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