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In today's Daily Pitch, you'll find: - A look at Israel-based startups that are part of the global race to sell cultivated meat.
- VCs invested only $28.6 billion in Greater China in the first half of 2022, continuing a slowdown that began late last year.
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| VC in Greater China extends slowdown | | Venture activity in Greater China dropped significantly in the first half of 2022, continuing a slowdown since late last year.
VCs invested only $28.6 billion in the region in H1—below the Q3 2021 figure—according to our latest Greater China Venture Report, sponsored by Apex Group. The region has faced many hurdles over the past year, including regulatory headwinds, supply chain issues and macroeconomic challenges. Other takeaways include: - Only 56 mega-rounds of $100 million or more were completed in the first six months of 2022, off pace from 2021's regional record of 261.
- Exit value totaled just $40.6 billion across 64 deals—a significant year-over-year slowdown, especially for IPOs.
- Fundraising continued to fall, with the region's dry powder ebbing to $122.7 billion. This has raised concerns about long-term capital availability, especially if investors outside the region face more hurdles to entering the market.
Chinese translations of the report are now available in simplified Chinese and traditional Chinese. | | | | | | | | | Meet the Israeli startups running the global race for cultivated meat | |  | | (Courtesy of SuperMeat) | | | 2021 was a record year for global venture funding for cultivated meat startups. Israel accounted for nearly a quarter of those dollars as startups in the region saw a sudden spike in venture interest.
Here's a guide to the most well-funded Israeli cultivated meat startups, with an update on their latest milestones. | | | | | | | |
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| Prevent deal erosion with a holistic approach to finance integration | | Today's market participant must deploy a broader set of tools than the traditional commercial, tax, and financial due diligence arsenal of the past. Combining technical accounting and finance process expertise can help solve any number of challenges that accounting and finance departments might face in the throes of an M&A transaction across reporting, compliance, technology, service delivery models, and sub-processes.
This article discusses the importance of moving beyond traditional M&A-related compliance matters and approaching a transaction with a holistic suite of accounting and finance services that are applicable throughout the deal lifecycle to prevent deal value loss.
Click here to learn more | | | | | | | |
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| FF Venture Capital launches Ukraine-focused fund | |  | | (Stefani Reynolds/Getty Images) | | | New York-based FF Venture Capital has announced its $50 million Blue & Yellow Heritage Fund to invest in startups led by Ukrainian founders.
Mariusz Adamski, partner at ffVC, says the firm is planning to invest in 20 startups, with check sizes ranging from $500,000 to $2.5 million. | | | | | | | | | KKR makes its PE fund accessible to individuals via a tokenized fund | |  | | (ZinetroN/Shutterstock) | | | A tokenized fund offering by Securitize is going to make KKR's PE fund available to retail investors. KKR will become the largest private-fund manager to date to tap blockchain technology to make its private equity offering accessible to individual investors.
The move comes as private fund managers experiment with new ways to expand their footprint to an unconventional class of investors: wealthy individuals. | | | | | | | | | London's Northzone pulls in nearly $1B for its largest fund | |  | | (T. Schneider/Shutterstock) | | | Northzone has reached a nearly $1 billion final close on its tenth fund that will back startups long term, from seed stage to IPO.
Europe has seen a slowdown in the number of vehicle closes in 2022, but as fund sizes grow, the amount of capital raised remains stable. | | | | | | | | | | How do Big Tech companies generate revenue? A breakdown of revenue streams for Alphabet, Amazon, Apple and Microsoft shows some insight. [Visual Capitalist]
The Twitter whistleblower's former colleagues are receiving offers of payment for information about him. [The New Yorker]
As the closures of newspapers leave Americans struggling for information, Chevron has swooped in to serve up a mixture of local news and propaganda. [The Guardian] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 437 Deals | 2146 People | 571 Companies | 41 Funds | | | | | | |
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| 2017 Vintage Global Secondaries Funds | | | | | | |
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| Shipping analytics startup Xeneta scores $80M | | | Oslo-based Xeneta has raised $80 million at a $265 million valuation in a round led by Apax Digital. The startup offers a benchmark and market analytics platform for ocean and air freight rates. | | | | | | | | | Zesty has raised $75 million in a round led by B Capital and Sapphire Ventures. Based in Tel Aviv, the company operates a cloud infrastructure platform for DevOps teams. | | | | | | | | | | | | | | HopSkipDrive brings home $37M | | | | | | | | Aqua-Yield closes $23M Series A | | | | | | | | Cledara lands $20M for its SaaS management platform | | | | | | | | | | Kafene has raised $18 million in a Series B led by Third Prime and existing backers. The startup offers a point-of-sale platform for lease-to-own agreements. | | | | | | | | | | | | |
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| FTV Capital invests $146M in Patra | | | FTV Capital has invested $146 million in Patra, a provider of technology-enabled services for the insurance industry. | | | | | | | PE-backed CES Power acquires Brickworks | | | Allied Industrial Partners-backed CES Power, a provider of mobile power generation, distribution and temperature control equipment, has acquired Brickworks, a provider of smart mapping software, geographic information system services and zero-emissions infrastructure to the entertainment industry. | | | | | | | Blue Point Capital backs Siffron | | | | | | | | Leeds Equity-backed CeriFi lands Solomon Exam Prep | | | | | | | | Latticework purchases Catalina Research Institute | | | | | | | | HarbourView buys Florida Georgia Line song catalog | | | HarbourView Equity Partners has acquired Big Loud Mountain Music's catalog of songs from country music band Florida Georgia Line. Big Loud Mountain Music is a Nashville-based independent music publishing, management and production company. | | | | | |
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| Baring Private Equity Asia closes Fund VIII at $11.2B | | | Baring Private Equity Asia has closed its eighth namesake fund at $11.2 billion. The fund will invest in sectors including healthcare, technology services, business services, education, financial services, consumer and advanced manufacturing. | | | | | | | Avance wraps up debut fund at $1.1B | | | Avance Investment Management has closed its inaugural fund on $1.1 billion, more than twice its $500 million target. The firm focuses investments in the technology, services and consumer sectors. | | | | | | | Madrona raises $690M across two funds | | | Seattle-based Madrona has raised $430 million for its ninth namesake fund, which will invest in early-stage companies across the Pacific Northwest, and a $260 million accelerator fund for late-stage companies. | | | | | |
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"Oddly, the fourth in a family grew in share from 10.6% over the past five years to 14.8% in 2022 through June. Perhaps this is the stage when many LPs see a fund strategy as institutional enough to be less risky."
Source: Q2 2022 Global Private Markets Fundraising Report | | | | | |
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