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In today's Daily Pitch, you'll find: - Our latest Quantitative Perspectives report dives into how the US venture industry may be able to weather headwinds in 2022.
- Our insurtech market map explores how VC funding is growing to protect against cyber threats.
- The media rights businesses of European soccer leagues continue to attract the attention of private equity investors.
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| Quantitative Perspectives: US VC braces for possibility of slowdown | | Despite the breakneck momentum of the past two years, 2022 has ushered in some potential headwinds for the venture capital industry. Depressed equity markets, a prominent theme of inflation and geopolitical turmoil are all contributing to uncertainty.
Our latest Quantitative Perspectives report dives deep into how the US venture industry may be able to weather these difficulties. The report also offers a closer look at public market movements, which have historically been a good indicator of venture activity.
Key takeaways: - Investors have left themselves vulnerable to valuation corrections by sacrificing protective deal terms in exchange for access to deal flow.
- The prospect of increasing bond yields may reduce venture's allure to LPs, but that effect will likely be tempered if inflation persists.
- VC investment outside of traditional funding hot spots accelerated during the pandemic as investment ticked up substantially in many states, including Vermont and Montana.
| | | | | | | | | | Market Map: Insurtech VC funding grows to protect against cyber threats | |  | | (erhui1979/Getty Images) | | | Venture capital investment in insurtech is booming, with companies raising more than $14 billion in 2021—more than in the previous two years combined.
One of the biggest drivers in this growth has been cyber insurance, as the changing nature of digital attacks has left gaps in coverage, convincing many companies to pursue standalone policies.
Check out our insurtech market map to explore where else investors have placed their bets. | | | | | | | | | | Private equity firms vie for media rights of France's Ligue 1 | |  | | (John Berry/Getty Images) | | | Media rights to European soccer leagues are an increasingly coveted prize for global private equity firms making a play for exposure in the international world of sports.
In one of the latest bids, firms including CVC Capital Partners, Silver Lake, Hellman & Friedman and Oaktree Capital are said to be vying for a minority stake in the new media rights unit of French soccer league Ligue 1. | | | | | | | | | | Private equity firms were once niche players serving big clients. Now they're becoming the supermarkets of the financial industry. [The New York Times]
When AI tech vendors spotlight their work with defense industry customers, it's not always considered a badge of honor. But they still want the contracts. [Protocol]
Banks that committed to lend tens of billions of dollars for leveraged buyouts and acquisitions are in search of buyers amid slow bond and loan markets. [Bloomberg] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 492 Deals | 2027 People | 472 Companies | 28 Funds | | | | | | |
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| 2020 Vintage Global PE Funds | | | | | | |
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| | | Roofstock has raised a $240 million Series E at a $1.94 billion valuation. SoftBank's Vision Fund 2 led the round for the Oakland, Calif.-based company, which offers a digital real estate investing platform. | | | | | | | | Capchase picks up $80M to finance startup founders | | | Capchase has raised an $80 million Series B led by 01 Advisors. The Boston-based company's platform is designed to help recurring-revenue businesses access and automate non-dilutive financing. | | | | | | | | | | | | | | | Slingshot Aerospace locks in $25M | | | Slingshot Aerospace has raised $25 million in Series A1 financing co-led by Draper Associates and ATX Ventures. Based in Austin, the company is a developer of space simulation and data analytics products to help design, manage and secure satellites. | | | | | | | | Chipper secures seed financing | | | | | | |
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| Sixth Street leads investment in Emplifi | | | | | | | | | Brookfield eyes Blackstone's La Trobe | | | | | | | | | TPG Rise backs Monarch Bioenergy | | | TPG Rise Climate has invested in Monarch Bioenergy, a joint venture between Roeslein Alternative Energy and a subsidiary of Smithfield Foods. Founded in 2018, Monarch Bioenergy captures methane emissions and converts them into carbon-negative renewable natural gas to power homes, vehicles and businesses. | | | | | | | | PE-backed Leap lands JobProgress | | | Nexa Equity-backed home contractor sales enablement software provider Leap has acquired JobProgress, a workflow and customer-relationship-management product for home contractors. JobProgress serves more than 1,700 home contracting businesses. | | | | | |
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| Quantum Energy Partners weighs $3B sale of HG Energy | | | | | | |
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| Makers Fund raises $500M for third fund | | | Makers Fund has raised $500 million for its third investment vehicle. The early-stage VC firm focuses on startups in the entertainment sector; its portfolio includes game developer End Game and DreamCraft, which helps users publish and monetize games without writing code. | | | | | |
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| Bessemer earmarks $250M for crypto | | | Bessemer Venture Partners has earmarked $250 million for investment in three sectors: consumer crypto, Web3 infrastructure and decentralized finance. The venture firm has also announced BessemerDAO, a discussion group for Web3 founders, investors and talent interested in crypto trends and resources. | | | | | |
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"Financial institutions including PE firms, hedge funds, pension funds, sovereign wealth funds, investment banks, and corporate VC (CVC) arms, among others— collectively known as nontraditional investors—have increased their presence in the VC ecosystem in the past five years. The influx of nontraditional capital in the European VC landscape has led to increased competition between investors, larger rounds, and swelling valuations."
Source: PitchBook's 2021 Annual European VC Valuations Report | | | | | |
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