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In today's Daily Pitch, you'll find: - Venture capital deal activity in European pet tech has settled down after a surge in investment fueled by the pandemic.
- Our recent Emerging Tech Research update on fintech breaks down the sector's dip in VC funding, emerging opportunities in alternative financing and more.
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| Assessing PitchBook's 2022 predictions for Europe's private markets | | At the end of last year, few could have anticipated how different the landscape would look for private markets in 2022.
Macroeconomic headwinds, including rising inflation and public market volatility, have created a more pressurized environment for both private equity and venture capital in Europe, one that is in stark contrast to the heady days of 2021. Now, midway through the year, our analysts revisit their December predictions in our 2022 European Private Capital Outlook: H1 Follow-Up.
Our 2022 predictions that we revisit include: - Global carveout deal value will hit a new high of €200 billion in 2022.
- European VC deal value will hit a record €175 billion in 2022.
- VC-backed public listings will decline in value and count from 2021 highs.
| | | | | | | | | VC interest in European pet tech ebbs | |  | | (Tatyana Aksenova/Shutterstock) | | | When the pandemic hit, pet adoption in Europe increased significantly, and with it, VC investments in pet tech startups.
With a new economic downturn, investors are pulling back on the amount spent in the space. | | | | | | | | | Fintech investment simmers down in Q2 | | On the heels of a breakthrough year for fintech investment, VC activity in the sector is simmering down. In Q2 2022, VC investment in fintech companies fell 17.8% from the previous quarter to $24.1 billion, the largest percentage drop since Q3 2018. Exits have also stalled as IPO activity grinds to a halt, and analysts expect fintech startups will attract the attention of incumbents looking for M&A opportunities.
Our recent Emerging Tech Research update on fintech explores VC trends in the space and highlights emerging opportunities in DeFi lending and non-dilutive startup financing. The report also includes a comprehensive market map of key players across each fintech subsegment and takes a closer look at companies such as Percent, Parafin, OpenNode and Celo. | | | | | | | | | PE fundraising capital on pace for record year despite wavering markets | |  | | (Nuthawut Somsuk/Getty Images) | | | PE firms raised $176 billion across 191 funds through the first half of 2022 and are on pace to surpass last year's fundraising value total.
Mega-funds have made up a majority of this year's fundraising value, and more funds sized over $5 billion are expected to close by December. | | | | | | | | | | Although hydrogen stocks have been through a few false dawns over the decades, the industry is now gaining momentum as the war in Ukraine has left hydrogen a cheaper alternative to natural gas in Europe. [The Wall Street Journal]
One writer's thoughts on why companies are struggling to adjust as consumers go cold on goods. [Financial Times]
The underground excavation industry is exploring everything from mini robots to plasma torches and superheated gas to replace the massive boring machines now in use. [Wired] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 356 Deals | 1676 People | 499 Companies | 26 Funds | | | | | | |
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| 2017 Vintage Global Debt Funds | | | | | | |
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| Selena Gomez's Wondermind valued at $100M | | | | | | | | | | | | | | | | | | | | | | Medical simulation specialist FundamentalVR picks up $20M | | | London-based FundamentalVR has raised $20 million in a round led by EQT Life Sciences, TechCrunch reported. The startup's platform uses VR and mixed reality technology to provide simulations for medical professionals. | | | | | | | | | Kennet Partners has led a $16.5 million Series A in London-based Jiminny. The startup's platform allows sales teams to record and analyze customer conversations in real time. | | | | | | | Farther books $15M for data-driven wealth management | | | Farther has raised a $15 million Series A at a $50 million valuation, TechCrunch reported. The round was led by Bessemer Venture Partners. The company offers a wealth management platform for high net worth individuals. | | | | | | | | | Abridge, a developer of AI-driven tech used to structure and summarize information from medical conversations, has raised a $12.5M Series A1 led by Wittington Ventures. | | | | | | | Animation studio Invisible Universe scores $12M | | | Invisible Universe has raised $12 million in a Series A led by Seven Seven Six. The animation studio partners with celebrities to develop animated character franchises for social media and Web3 platforms. | | | | | | | Satellite IM brings in $10.5M for decentralized communication | | | | | | | | Toronto's Interaxon raises $9.5M | | | | | | |
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| Investindustrial to pay $950M for stake in TreeHouse Foods business | | | | | | | | | | | | | | | MPE Partners' DecoArt lands Jack Richeson | | | MPE Partners portfolio company DecoArt has acquired Jack Richeson, a manufacturer and distributor of artist materials, including easels, stretcher bars, artist colors and paper products. | | | | | |
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| The Riverside Company offloads investment in Parker Food Group | | | | | | |
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| Pomona Capital picks up $2.6B for secondaries | | | Pomona Capital has held a final close on $2.6 billion for its 10th secondaries flagship fund. PC X brings the firm's total raised over the past two years to $4 billion. | | | | | | | Apollo raises $2.3B+ for corporate direct lending | | | Apollo Global Management has closed its Apollo Origination Partnership I fund on about $2.35 billion in committed capital. The AOP vehicle is the firm's inaugural fund focused on direct lending to large corporate borrowers. | | | | | |
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