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In today's Daily Pitch, you'll find: - Our latest Emerging Tech Research report breaks down VC momentum in agtech as innovation becomes critical to boosting crop yields.
- The stock sell-off has hit one group of companies particularly hard: mobility tech startups that merged with SPACs.
- With the population of older Americans growing, we explore how PE investors are pouring capital into the elder and disabled care sector and list the top players.
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Agtech blooms with near-record funding in Q1 | | Macroeconomic events such as the war in Ukraine are exacerbating long-term challenges around food security, including a surge in prices for fertilizer and commodity crops. As agtech innovation becomes critical to boosting crop yields, PitchBook analysts list three factors that are driving robust venture capital momentum into agtech startups in 2022: increased concern for food security, data-driven productivity gains and environmentally friendly agricultural techniques such as carbon monitoring tools and biochemicals. Global agtech companies collected $3.3 billion across 222 deals, marking a 15.5% quarter-over-quarter increase in deal value. Our Q1 Emerging Tech Research report on agtech breaks down a strong quarter for the sector and highlights emerging opportunities in regenerative agriculture technologies and the growing impact of female-founded agtech startups. | | | | | | PE braces for uncertainty, fewer deals amid economic turmoil | | | (kyrien/Getty Images) | | | The movers and shakers of the private equity industry gathered in Berlin for the annual SuperReturn conference—though with a little less swagger than last time—as they consider the impact of a market correction on their future returns. While PE is an asset class known for its ability to outlast, and even make the best of, a downturn, industry participants expressed concern over the near-term impacts on their portfolios, even if some remain upbeat about the industry's ability to weather the storm in the long run. | | | | | | |
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How the right AI healthcare tool can accelerate modernization | | AI tools are revolutionizing healthcare, driving innovation in patient care, clinical trial analysis, revenue cycle management, and more. And while modernizing healthcare processes with AI is game-changing, there are high risks and costs to implementing the wrong tool. That's where Tegus comes in. Top investors and businesses turn to Tegus for an in-depth view on companies like Aidoc, PathAI, Nym Health, and others that are changing the healthcare landscape. Tegus provides expert insights from providers, hospital finance leaders, reimbursement experts, and more so you can make informed decisions about where to invest. PitchBook readers can also learn more from Tegus' report on growing AI applications in healthcare. Download your free copy here | | | | | | |
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Nearly every mobility tech SPAC is trading below its IPO price | | | Fisker's Ocean electric vehicle is scheduled to start deliveries later this year. (Mario Tama/Getty Images) | | | The stock sell-off has hit one group of companies particularly hard: mobility tech startups that merged with SPACs. The combined market value of these companies is about $100 billion less than what their SPAC deals implied. Just four such companies are trading above the $10 per share IPO price, and 68% of them are below $5 per share. | | | | | | Top 10 PE investors in the elder and disabled care sector | | | (AlisaRut/Getty Images) | | | With the US population 65 and older rapidly growing, private investment firms have poured capital into the elder and disabled care industry in recent years. Since 2017, the top 10 private investment firms in the sector have completed 140 deals, according to PitchBook data. | | | | | | | Russia's superwealthy are changing their travel plans as sanctions shrink their access to much of the world. A look at the new geography of the Russian elite. [The New York Times] What does fallout in the cypto market mean for everyone else? [Wired] ESPN's NHL deal shows broadcasters a new way to profit from sports rights. [Bloomberg] | | | | | |
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| Since yesterday, the PitchBook Platform added: | 389 Deals | 1491 People | 408 Companies | 34 Funds | | | | | |
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2009 Vintage Global Funds-of-Funds | | | | | |
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| HomeLight has raised $60 million in Series D equity from Zeev Ventures as well as $55 million in debt. The funding values the real estate company at $1.7 billion, according to reports. HomeLight has also agreed to acquire mortgage lending startup Accept.inc. | | | | | Impulse lands $10M for last-mile delivery in space | | | | | | | | | |
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KKR, GIP, Stonepeak make joint bid for Deutsche Telekom unit | | | | | |
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PitchBook Webinar: How startups leverage database innovation to accelerate growth | | AI, internet of things and information security are some of the fastest growing fields in the private market, capitalizing on innovation in database technology to propel their growth. In our upcoming webinar, PitchBook senior analyst Brendan Burke will dive into software innovation trends, the startup environment that surrounds them and how they will impact the broader tech investment landscape. Register for the webinar today | | | | | | |
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Immutable launches $500M fund | | Web3 gaming company Immutable has launched its inaugural Developer and Venture Fund with $500 million. The vehicle will target Web3- and NFT-focused startups. The Australian company was valued at $2.5 billion in March following a $200 million Series C led by Temasek. | | | | | |
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"Elsewhere, several first-time managers held final closes during the quarter. However, these closes are the result of many quarters, if not years, of hard work leading up to the close. ... The current fundraising environment promises to be difficult for first-time managers, although it may take a year or more to fully become visible in the data." Source: PitchBook's Q1 2022 US PE Middle Market Report | | | | | |
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