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In today's Daily Pitch, you'll find: - Our 2021 Annual Retail Healthtech Report dives into market segments such as clinical care, biometric wearables, supplements and more.
- After a dip in 2020, the good times are back for VC and PE first-time fundraising.
- DaGrosa Capital Partners founder Joseph DaGrosa plans to launch a new private markets platform—part of a wider trend toward the democratization of private equity.
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| Telehealth and digital therapeutics push retail healthtech deals to record highs | | Retail healthtech startups strive to improve personal health and wellness at a lower cost and higher quality than traditional alternatives. The burgeoning vertical relies largely on tech that enables convenient at-home or mobile use, the ability to integrate with other services and large-scale data collection to help drive personalized offerings.
In 2021, global retail healthtech companies raised $18.3 billion across 537 venture capital deals, a 106% year-over-year deal value increase.
Our 2021 Annual Retail Healthtech Report deep dives into the industry's investment activity and trends, comprehensively assessing emerging opportunities and industry drivers across market segments such as clinical care, biometric wearables, dietary supplements and personalized medicines. | | | | | | | | | | First-time funds bounce back from pandemic lows | |  | | (VectorMine/Getty Images) | | | After a dip in 2020, the good times are back for first-time fundraising as VC and PE fund activity has returned to pre-pandemic levels—and in some cases set new records.
Up-and-coming managers struggled to raise funds both due to the challenges of networking under lockdowns and LPs' tendency to stick with firms they know during uncertain times. But now, first-time funds are benefiting from broad growth in VC and PE fundraising led by the largest firms. | | | | | | | |
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| A message from the National Science Foundation | | |
| | Startup JuneBrain is developing a wearable retinal imaging device that looks like a VR headset and enables early detection and treatment of retinal and neurological diseases, including multiple sclerosis.
JuneBrain (NSF-2053315) is one of hundreds of deep-tech startups annually funded by the NSF, a government agency that plays a central role in accelerating discoveries into the marketplace.
Each startup can receive up to $2 million to support translational R&D. By annually investing roughly $200 million in startups, NSF helps teams navigate the earliest stages of technology translation. In the past five years, these companies have gone on to raise billions in follow-on capital, and the portfolio has had 200-plus exits.
Learn more about NSF funding at seedfund.nsf.gov | | | | | | | |
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| Five questions on Black investors for Cynthia Muller of W.K. Kellogg Foundation | |  | | Cynthia Muller leads mission-driven investment at the W.K. Kellogg Foundation. (Courtesy of W.K. Kellogg Foundation) | | | Gaps that Black investors face in working with limited partners was a central theme of a recent study produced by the industry group BLCK.VC.
PitchBook wanted to get the LP perspective on these issues, so we reached out to Cynthia Muller, head of mission-driven investment for the W.K. Kellogg Foundation, whose endowment is committed to promoting equitable outcomes in the private market. | | | | | | | | | | Exclusive: Joseph DaGrosa targets accredited investors with new platform | |  | DaGrosa Capital Partners founder Joseph DaGrosa
(Nicolas Tucat/Getty Images) | | | Joseph DaGrosa, the founder of Miami-based DaGrosa Capital Partners and Kapital Football Group, is looking to raise as much as $2.5 billion from accredited investors with a new private markets platform, Axxes Capital.
The move is part of a broader trend in the industry toward the democratization of private equity that is seeing more individual investors gain greater exposure to the asset class. | | | | | | | | | | The cryptocurrency boom has spawned enterprises democratically governed by a community of users—in theory. Making it work has been much messier. [The New York Times]
More and more white-collar professionals, including many bankers, are abandoning Hong Kong as Beijing and COVID-19 remake the city. [Bloomberg]
What happens when managers get rewarded for good performance—but not punished for losses? [Institutional Investor] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 441 Deals | 1917 People | 471 Companies | 28 Funds | | | | | | |
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| 2013 Vintage Global Real Assets Funds | | | | | | |
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| A message from Allvue Systems | | |
| Family offices: What's on their minds? | | In its new infographic, Allvue Systems looks closely at the top concerns for family offices in 2022 and identifies key trends, including: - Average share of portfolio allocated to alternative investments.
- Whether there is renewed interest in ESG investing.
- Cybersecurity and online privacy concerns.
- How they are meeting today's demands.
Read it here | | | | | | | |
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| | | | | | | | | Axonius nabs $2.6B valuation | | | Axonius has raised a $200 million Series E at a $2.6 billion valuation. Accel led the round for the cybersecurity-asset-management platform developer. | | | | | | | | | Swiftly has raised a $100 million Series B led by Wormhole Capital. The company is the developer of a digital platform designed to help brick-and-mortar retailers manage customer experiences. | | | | | | | | | Creyon Bio has raised $40 million in seed and Series A financing co-led by DCVC Bio and Lux Capital. The company engineers RNA-based medicines and their components. | | | | | | | | Findem raises $30M Series B | | | | | | |
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| Clearlake to acquire Intertape Polymer Group | | | Clearlake Capital has agreed to acquire Intertape Polymer Group for $2.6 billion. The Quebec- and Florida-based company manufactures packaging products including pressure-sensitive tape and shrink film for industrial and retails customers. | | | | | | | | Blackstone leads $200M investment in DNAnexus | | | Blackstone has led a $200 million investment in bioinformatics company DNAnexus, Bloomberg reported. The round values DNAnexus at $600 million. Founded in 2010 and based in Mountain View, Calif., DNAnexus runs a cloud platform that allows researchers to access sets of genomic data. | | | | | | | | Blackstone to back Currencies Direct | | | | | | | | | KKR considers bid for renewable energy producer | | | KKR is weighing a takeover bid of French solar, biomass and geothermal power producer Albioma, Bloomberg reported. Albioma currently holds a market value of around $1.3 billion. | | | | | | | | L Catterton lands Taxa Outdoors | | | L Catterton has acquired Taxa Outdoors, a Houston-based outdoor-lifestyle company that creates multifunctional camping machines. The company currently offers four mobile habitats built from premium and eco-friendly materials. | | | | | | | | Greenbelt leads investment in ION Solar | | | Greenbelt Capital Partners had led an investment in ION Solar, a Provo, Utah-based provider of rooftop solar sales and installations. Founded in 2013, ION operates in eight states and has installed solar panels for over 30,000 households. | | | | | | | | HLD Group, L Catterton swap clothing specialist | | | L Catterton has sold its majority stake in women's clothing brand Ba&sh to HLD Group. Founded in 2003, Paris-based Ba&sh's products are available in more than 40 countries. | | | | | |
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| Don't miss our upcoming webinar on women in VC | | Join PitchBook on March 16 for a webinar on women in the VC and startup ecosystems. Our panel of experts will examine the continued increase of female founders and angel investors, boardroom equity, obstacles exacerbated by COVID-19 and other timely developments. Key topics will include: - Applying PitchBook-tracked data to examine the ratio of female funding compared to the overall market.
- Why female GPs are a catalyst for increasing the number of female founders.
- Covering PitchBook's female founder data surrounding fintech, biotech & pharma, cleantech, digital health and software.
- Appointing existing female employees to boards as window dressing versus retaining independent directors willing to challenge the status quo.
Register today to secure your spot | | | | | | | |
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| Clearlake-backed WellPet planning $600M+ IPO | | | Clearlake Capital-backed pet food producer WellPet is preparing for an IPO that could be as soon as this year and is planning to raise more than $600 million and hit a valuation of $2.5 billion in the process, Bloomberg reported. Clearlake acquired WellPet—then named Wellness Pet—in 2020. | | | | | | | | LanzaTech to go public via SPAC | | | LanzaTech plans to go public via a merger with blank-check company AMCI Acquisition Corp. II in a deal that values the carbon-capture specialist at about $2.2 billion, The Wall Street Journal reported. The merger includes a $125 million PIPE deal with investors including ArcelorMittal, BASF Venture Capital and Khosla Ventures. | | | | | |
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| Bain Capital Ventures raises $560M crypto fund | | | Bain Capital Ventures has raised a $560M fund focused on cryptocurrency-related investments, Bloomberg reported. The firm has already invested about $100 million from the vehicle, the report said. | | | | | |
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