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In today's Daily Pitch, you'll find: - Our latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets.
- SoftBank was involved in more than a third of VC investment in Latin America since 2019, but its caution in 2022 is part of an investor retreat.
- A $2.45 billion purchase of PerkinElmer assets marks one of the largest PE deals within the life sciences sector in recent years.
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| Sweet relief: Global markets see bounceback in July | | Central banks continue to fight stagflation fears, while the US has experienced a second consecutive quarterly decline in real GDP—but that didn't stop equity markets from rebounding in July. Negative headlines for housing, energy and labor markets will need to be monitored, though.
Our latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also includes private markets activity, including major deals, IPO performance and unicorn creation by region. In this monthly digest, we provide the datasets that PitchBook's research team is keeping an eye on as markets remain volatile. | | | | | | | | | SoftBank led LatAm's rise, and its retreat | |  | | São Paulo (Caio Pederneiras/Shutterstock) | | | Few investors have made their mark on a region like SoftBank has in Latin America. The Japanese firm was involved in more than a third of LatAm VC deals by value since 2019 and amassed a stable of unicorns along the way.
But in 2022, SoftBank has pulled back as part of a wave of retreating investors. That has contributed to a sharp correction in VC funding for LatAm startups—one that risks erasing the significant gains made in last year's boom times. | | | | | | | |
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| Investing in a cleaner world | | In 2022, sustainability is top-of-mind. From financing solar farms in Arizona to launching all-electric ridesharing programs in Manhattan, PE is playing a big role in boosting sustainability across the country. Willis Tower recently completed a $500 million renovation that will cut energy consumption by 20% and save over 100 million gallons of water over the next decade. AIC member Blackstone and portfolio company EQ Office were behind the effort.
In partnership with PitchBook, AIC has released Investing in a Cleaner World: Private equity and sustainability. Beyond the numbers, the report also highlights new initiatives, partnerships and sustainability funds that will ultimately pay dividends for the planet.
To download the report, click here. | | | | | | | |
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| New Mountain grows life science influence with $2.45B PerkinElmer deal | |  | | (Singleline/Shutterstock) | | | New Mountain has agreed to take over PerkinElmer's analytical instrumentation, food safety and enterprise services businesses, which include a laboratory, field services and a portfolio of entities that serve those industries.
The deal is the largest within the diagnostic-equipment sector in recent years. We've collected a list of the top 10 PE deals in the space since 2020 and show how they measure up to top deals in the broader life sciences sector. | | | | | | | | | | As edtech companies stockpile sensitive information, one cyberattack illuminates the shaky state of student privacy. [The New York Times]
Indebted property developer Evergrande has been told to hand over $1.1 billion in yet another previously undisclosed financial obligation. [The Wall Street Journal]
How companies are trying to roll back hard-won gains made by gig workers. [Wired] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 543 Deals | 1919 People | 658 Companies | 20 Funds | | | | | | |
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| 2012 Vintage Global Real Estate Funds | | | | | | |
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| Centurium Capital leads $200M investment in NTX | | | Centurium Capital has led a nearly $200 million investment in NTX, a global textile technology company. Existing shareholder NRL Capital made additional contributions. | | | | | | | | | | | | | | Egypt's Homzmart bags $23M | | | Homzmart, the provider of an ecommerce platform for home goods, has raised $23 million from investors including Impact46, Outliers Ventures and Rise Capital, Reuters reported. The round brings the Cairo-based company's total funding to $40 million. | | | | | | | | | | | | | | Aurora lands $10M for clean hydrogen production | | | | | | | | Smarter Sorting scores $7M for brand sustainability | | | Smarter Sorting, which helps brands increase sustainability by analyzing the chemicals and ingredients in consumer products, has raised $7 million from Regeneration.VC. The funding adds to the company's $25 million round led by G2 Venture Partners in March. | | | | | | | Differentiated Therapeutics picks up $5M | | | | | | |
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| Don't miss our upcoming webinar | | Join our supply chain webinar to get up to speed on the substantial changes in this industry over the past two years and what to expect in the future. Though supply chains have struggled to meet demands through the COVID-19 pandemic, the space continues to see innovation and VC interest.
In this webinar, our analysts will explore some of the new technologies expected to address major industry pain points and how this may impact future VC activity. Key topics include: - The trajectory of supply chain developments.
- Past and present VC deal activity.
- Emerging tech opportunities that could help global supply chain industries.
Register now to secure your spot. | | | | | | | |
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| Silver Lake to invest $1.5B in Global Payments through convertible note | | | Silver Lake will make a $1.5 billion investment in Global Payments in the form of a convertible note as part of the company's agreement to acquire Evo Payments, an Atlanta-based provider of payments technology. | | | | | | | Apollo-led group nears deal for Atlas Air | | | A consortium led by Apollo Global Management is nearing a deal to acquire Atlas Air Worldwide Holdings, The Wall Street Journal reported. The airfreight company, which serves freight, commercial, charter and military customers, currently holds a market value of around $2 billion. | | | | | | | Gryphon lands Rootstock Software | | | Gryphon Investors has acquired Rootstock Software, a provider of cloud-based enterprise resource planning software to manufacturing, distribution and supply chain organizations. | | | | | | | HIG acquires Barton & Associates | | | | | | |
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| Bain seeks $5B for latest Asia-Pacific fund | | | Bain Capital has kicked off fundraising for its latest Asia-Pacific fund with a $5 billion target, Bloomberg reported. The fund's predecessor closed on $4.65 billion in 2018. | | | | | | | Assured Healthcare Partners raises $750M fund | | | Assured Healthcare Partners has closed its second namesake vehicle on $750 million. The fund will invest in North American healthcare service companies. | | | | | | | Redpoint closes Fund IX on $650M | | | Redpoint Ventures has closed its ninth early-stage vehicle on $650 million, TechCrunch reported. The fund will invest between $2 million and $15 million in seed through Series B rounds. | | | | | | | Insignia Ventures wraps up $516M | | | Insignia Ventures Partners has raised $516 million, including $388 million for its third flagship fund. The firm, which targets early-stage tech investments in Southeast Asia, closed its IVPF Fund II on $200 million in 2019. | | | | | |
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