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In today's Daily Pitch, you'll find: | | | | | |
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Analyzing real estate investing strategies, economic drivers and more | | Real estate attracts increased attention from private markets investors during periods of inflation, and this recent bout has been no different. Terminology, industry dynamics, investment strategies and other factors may appear opaque or difficult to tie together for investors looking to move into the real estate space, and many are still attempting to glean the finer points of how to approach the asset class. Meanwhile, for those pursuing real estate investments for their inflation-hedging abilities, a second look may be merited. Our analyst note on the space provides a clear and comprehensive picture of private markets real estate investing strategies, sectors and economic drivers. | | | | | | | Tracking the SoftBank Vision Fund portfolio's performance | | | (NurPhoto/Getty Images) | | | SoftBank will slow new investments from its Vision Fund portfolio and retain cash as its tech holdings plummet in value. The portfolio is more important than ever to SoftBank: The segment accounts for nearly half of the firm's holdings following a years-long reallocation that has reduced its Alibaba stock. In a new dashboard, we're tracking the Vision Fund portfolio's performance, investments and other metrics. | | | | | | |
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A message from Allvue Systems | | |
Tear sheet templates for private equity managers | | Keeping all stakeholders—both internal and external—in the loop with clean data snapshots is a key challenge for many private equity managers. Now you can get a solid foundation for the one-off, high-level reporting of investment data with sample guidance from Allvue in a new Tear Sheet Template Kit designed specifically for private equity managers. This PDF kit includes both a fund-level tear sheet and a portfolio company-level tear sheet that you and your team can use as templates to update investors, prospects, and internal team members quickly and easily on essential metrics. Access the kit here | | | | | | |
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| | (Julia Midkiff/PitchBook News) | | | Did you follow the private markets news this week? Take the PitchBook News Quiz to see how you stack up.
This week: Jared Kushner puts Saudi money to work, SoftBank has a new vision and a stablecoin destabilizes crypto markets. | | | | | | | Mapping Africa's growing venture capital landscape | | | (Adam Gault/Getty Images) | | | The rise in demand for fintech innovation and influx of foreign investors have helped Africa continue last year's blistering pace of VC dealmaking. Kenya and Egypt are leading the pack, recording more than 52% of the total capital raised by African startups so far this year. What are some other trends in the continent? Here's a closer look at the latest data amassed by PitchBook, depicting how the momentum has carried over into 2022. | | | | | | | Median VC valuations for fintech hit new highs in Q1 | | Global VCs invested $29.3 billion in fintech during Q1, representing a 7.3% decrease in deal value from the previous quarter. Yet a string of sizable deals for payments companies including Bolt, Checkout.com and Brex helped push the median pre-money valuation for late-stage fintech companies to $257.5 million during the quarter—a 44.5% increase from 2021's full-year figure. On the exit front, many fintech startups are expected to become acquisition targets of incumbents and other well-established fintech companies, as IPO activity grinds to a halt in the current economic environment. Our Q1 Emerging Tech Research report on fintech breaks down the sector's strong quarter, highlighting emerging opportunities in corporate crypto finance, carbon credit tokenization and payment facilitation. It also includes a comprehensive market map of key players across each fintech sub-segment, with detailed looks at companies such as Bitwave, Celo and OpenNode. | | | | | | | Scientists have grown plants in lunar soil for the first time, but it's still unlikely we'll be farming on the moon anytime soon. [Gizmodo] Advertising has won the war against Netflix and other streaming platforms. Do consumers even care? [Fast Company] A surprise federal appeals court decision is causing social media's legal foundation to crumble in Texas. What happens next? [Protocol] | | | | | |
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| Since yesterday, the PitchBook Platform added: | 368 Deals | 1364 People | 369 Companies | 31 Funds | | | | | |
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2014 Vintage Global Real Estate Funds | | | | | |
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6K secures $102M Series D for battery material production | | 6K has raised $102 million in a round led by Koch Strategic Platforms. The company is the developer of a microwave plasma production system that creates materials for lithium-ion batteries and products related to additive manufacturing, renewable energy, aerospace, consumer electronics and more. | | | | | | Eridan has raised $46 million in a round co-led by Capricorn's Technology Impact Fund and Monta Vista Capital. The Mountain View, Calif.-based company is a developer of wireless connectivity infrastructure. | | | | | | Solidus Labs snags $45M for trade surveillance tech | | Solidus Labs has raised a $45 million Series B led by Liberty City Ventures. The New York-based company offers trade surveillance, transaction monitoring and threat intelligence services for the crypto and decentralized finance space. | | | | | | Tiger Global leads $42M round for Komodor | | Komodor, the creator of an automated troubleshooting platform for open-source system Kubernetes, has raised a $42 million Series B led by Tiger Global. The company has now raised $67 million in total backing. | | | | | | Mathison raises $25M for equitable hiring | | Mathison has raised a $25 million Series A led by F-Prime Capital. The company's hiring and retention platform helps employers measure diversity, equity and inclusion, source underrepresented candidates and reduce bias in the hiring process. | | | | | | Fertility startup Legacy secures $25M | | Legacy has raised a $25 million Series B led by Bain Capital Ventures. Founded in 2018, the Boston-based fertility company offers at-home sperm testing kits as well as sperm analysis, DNA fragmentation and cryopreservation for the samples. | | | | | | StackHawk picks up $20.7M | | | | | | Clean energy company NextEra Energy Resources has led a $10 million Series B for LandGate. Based in Denver, LandGate offers an online marketplace for US commercial land and resources including solar, wind, minerals, water and carbon offsets. | | | | | |
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Carlyle nears $1B deal for HCP | | The Carlyle Group is nearing a $1 billion deal for Chinese packaging company HCP, Bloomberg reported. HCP designs, develops and makes packaging containers for the cosmetics and toiletries industries, with around 10 manufacturing locations in Asia, North America and Europe. | | | | | | Dock brings in $110M from Lightrock, Silver Lake | | Dock has raised a $110 million growth round at a valuation of more than $1.5 billion. The funding was co-led by Lightrock and Silver Lake. Based in São Paulo, the company offers a digital banking and payments platform that allows Latin American businesses to provide financial services like custom cards and payment processing. | | | | | | Franklin Templeton, Motive Partners back Tifin | | | | | | Spring Lane invests $35M in Soluna | | Spring Lane Capital has invested $35 million in Soluna Computing to help the company build data centers, The Wall Street Journal reported. Soluna's data centers are powered by excess energy from wind and solar farms. | | | | | | SK Capital to buy Valtris from HIG | | | | | | Alfar Capital, Walter Capital land Groupe Access | | | | | |
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Instacart confidentially files for IPO | | | | | |
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NovaQuest Private Equity closes Fund II on $500M | | NovaQuest Private Equity has closed its second flagship fund at $500 million, surpassing a target of $425 million. The firm invests in lower-middle-market healthcare companies located primarily in North America. | | | | | | FPE Capital raises $226M for third fund | | London-based FPE Capital has raised £185 million (about $226 million) for its third namesake fund, which will be used to back software and services companies in the lower middle market. The vehicle's predecessor closed on £101 million. | | | | | | Elsewhere Partners wraps up $175M Fund II | | Elsewhere Partners has closed its second fund on $175 million. The growth-stage VC firm invests in business software companies located outside of traditional venture capital hubs. | | | | | |
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