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| In today's Daily Pitch, you'll find: | | | | | |
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| All systems go for carbon and emission tech | | As legislation, policy and net-zero emissions pledges encourage decarbonization across the globe, startups developing carbon and emissions tech are reeling in investors. The vertical is poised for strong continued growth thanks to increasing global focus on aggressive emissions targets and consumer interest in emissions reduction. PitchBook analysts estimate the overall market will reach $905 billion in 2022.
Our first Carbon & Emissions Tech Report explores VC trends in the nascent sector and spotlights opportunities in carbon tech, green industry, built environment and land use. | | | | | | | | | Distressed venture is coming to save your orphaned startups | |  | | (metamorworks/Shutterstock) | | | The traditional venture model relies on a lot of misses and a few home runs. But among the misses, what happens to the startups that are no longer attractive enough to receive follow-on funding?
The distressed venture strategy helps companies rebuild in a more economically sustainable way when traditional VC has left them behind. In a challenging fundraising environment for startups, distressed venture investors are expecting to be busy. | | | | | | | |
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| A message from the American Investment Council | | |
| 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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| Insight Partners VC helps founders cut 'fluff' to ride out lean times | |  | | (eamesBot/Shutterstock) | | | Insight Partners has a team of about 100 operating experts that, until last year, was almost singularly focused on helping the firm's hundreds of portfolio companies grow as fast as possible.
But things are different this year. Insight Onsite is now telling startups to conserve cash, use capital efficiently and strive for profitability.
We caught up with Onsite's leader, Hilary Gosher, about her team's advice to startups on approaching layoffs, runway extensions and repricing of employee stock options. | | | | | | | | | The 10 most active supply chain tech investors | |  | | (Pand P Studio/Shutterstock) | | | Supply chain issues and labor shortages have broadened demand for startups developing tech to reduce shipping costs, enhance visibility, automate warehouse operations and improve decision-making in supply chain processes.
Check out our list of the most active global investors in VC-backed supply chain tech deals since 2017. | | | | | | | | | | While one of the few companies not delaying its IPO, Instacart isn't planning to raise much money in the public debut, choosing instead to allow employees to cash out of their long-held shares. [The Wall Street Journal]
How Patagonia's ownership handoff changes the game for American business. [Fast Company]
Could increasing numbers of electric vehicles help buttress the US' ancient electrical grids? [Wired] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 394 Deals | 1658 People | 554 Companies | 14 Funds | | | | | | |
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| 2019 Vintage European Real Estate Funds | | | | | | |
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| Swiftly brings home $100M Series C | | | Swiftly, the developer of a digital platform designed to help retailers engage with customers and build loyalty programs, has raised $100 million in a round led by BRV Capital Management. The funding values the company at more than $1 billion. | | | | | | | | | Kate Farms has raised a $75 million Series C led by Novo Holdings. Based in California, the company offers plant-based formulas made without common allergens for children and adults with conditions such as diabetes, cancer and malnutrition. | | | | | | | Yellow Card banks $40M Series B | | | Yellow Card has raised $40 million in a round led by Polychain Capital. The company offers a cryptocurrency exchange operating across Africa. | | | | | | | PowerToFly raises $30M for diversity recruitment | | | | | | | | 1MRobotics emerges from stealth with $16.5M Series A | | | 1MRobotics, a provider of robotic nano-fulfillment centers, has raised $16.5 million in a round led by Ibex Investors, TechCrunch reported. | | | | | | | Elevation Spine picks up $11M | | | | | | |
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| Vista Equity makes $4B+ offer for KnowBe4 | | | Vista Equity Partners has made a $4.22 billion offer for KnowBe4, a cybersecurity awareness training company, according to reports. Vista offered $24 per share for the company, representing a 39% premium to KnowBe4's closing stock price Sept. 16. | | | | | | | Silversmith leads $50M investment in GiveCampus | | | Silversmith Capital Partners has led a $50 million investment in GiveCampus, a fundraising platform for nonprofit educational institutions. GiveCampus has facilitated more than $2 billion in charitable giving since its founding in 2015. | | | | | | | Bregal Sagemount backs Solo | | | Bregal Sagemount has invested in Solo, a Utah-based provider of solar sales, proposal and design software. | | | | | | | Kinderhook's Rental Equipment Investment lands Blackout Energy | | | | | | | | O2-backed BerlinRosen invests in Derris | | | O2 Investment Partners-backed communications firm BerlinRosen has invested in Derris, a brand consultancy and communications company. Derris works with brands in fashion, lifestyle and other direct-to-consumer sectors. | | | | | |
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| CD&R reaches $10B in first close of buyout fund | | | Clayton, Dubilier & Rice has so far raised around $10 billion for its 12th buyout fund, which has a $20 billion target, The Wall Street Journal reported. CD&R makes investments in the healthcare, consumer and retail, industrials, technology and business and financial services sectors. | | | | | | | Neuberger Berman closes fifth secondary opportunities fund on $4.9B | | | Neuberger Berman has closed its fifth secondary opportunities fund on $4.9 billion, well over its target of $3 billion. The firm closed the fund's predecessor on $2.5 billion in 2017. | | | | | | | OurCrowd launches $200M healthcare-focused fund | | | OurCrowd has collected $200 million for its Global Health Equity Fund in collaboration with the WHO Foundation. | | | | | | | Concord Health Partners finalizes latest fund on $150M | | | Concord Health Partners has closed its second fund on $150 million. The firm's latest innovation fund will focus on investments in the healthcare sector. | | | | | |
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"The Chinese government announced its plan to limit listings of companies headquartered in China on foreign exchanges. While this isn't a complete barrier to exits, many of the country's largest exits were via public listing onto foreign markets, and the intervention by the government has likely made investors based outside China think twice about investing into the country."
Source: PitchBook's H1 2022 Greater China Venture Report | | | | | |
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