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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. | | | | | | | | | Glasswing Ventures takes off with $158M second fund | |  | | (Darkdiamond67/Shutterstock) | | | Glasswing Ventures has raised $158 million for its latest vehicle to back AI-enabled startups.
Raising the fund was in some ways easier than the first, but it came with its own challenges in a crowded fundraising environment. We spoke to founder and managing partner Rudina Seseri about the process. | | | | | | | |
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| Finally: contract automation for private markets | | Contract technology has left out asset management for years. Point solutions, which focus on improving a specific element of contracting, force firms to use multiple ad hoc solutions to cover the entire contract lifecycle.
Meanwhile, contract lifecycle management (CLM) platforms are often too generic for firms to realize the time and cost savings they expect. Most CLM providers don't base their features on what asset managers need to efficiently execute high-volume, routine contracts while complying with numerous investor obligations.
Given the limitations, Ontra took an in-depth look at what's available in its new infographic, The Contract Automation Landscape for Private Markets.
Review the infographic now. | | | | | | | |
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| Bessemer raises $3.85B for early-stage startups | |  | | (eamesBot/Shutterstock) | | | Bessemer Venture Partners has raised a $3.85 billion fund, the largest vehicle of the firm's nearly 50-year history and the ninth-largest individual US VC fund ever, according to PitchBook data.
The fund comes just 18 months after Bessemer announced its previous vehicle. Until now, the firm had been closing new funds approximately every three years.
Fundraising cadence increased for venture funds in recent years as many firms, including Bessemer, deployed capital at a rapid pace amid the market boom of 2021. | | | | | | | | | Q&A: Vista Credit's David Flannery on private debt vs. syndicated loans | |  | | (fuyu liu/Shutterstock) | | | David Flannery leads Vista Equity Partners' credit-investing strategy, Vista Credit Partners, which provides debt and structured equity financing to tech, data and enterprise software companies.
Our colleagues at LCD spoke to Flannery about the balance between the syndicated loan market and private debt, the outlook for the tech sector and more. | | | | | | | | | | Can Mike Novogratz's comeback narrative survive the crypto crash? [Institutional Investor]
Germany's €9 public transit program came to an end in August, but the country hasn't given up on cheap public transit as it continues to face a gas crisis. [Bloomberg]
Incoming Y Combinator CEO Garry Tan hopes to tap the program's alumni network to generate new tech giants. [Wired] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 459 Deals | 1961 People | 528 Companies | 13 Funds | | | | | | |
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| 2009 Vintage Global Real Estate Funds | | | | | | |
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| FTX leads $300M round for Mysten Labs | | | | | | | | | | Digital insurance company Carrot has raised 175 billion South Korean won (about $145 million) in a round led by Affirma Capital. The company plans to raise another 125 billion won in Q4. | | | | | | | | | Balderton Capital and Lakestar have led a $78 million investment in London-based Tesseract. The startup seeks to cut out energy-market middlemen by owning renewable generator assets and selling power directly to consumers. | | | | | | | Photys Therapeutics brings in $75M | | | Photys Therapeutics has raised a $75 million Series A led by MPM Capital. The company is developing bifunctional medicines intended to restore protein function and boost disease-fighting mechanisms. | | | | | | | Dealpath snags $43M Series C | | | | | | | | Crop intelligence company Taranis rakes in $40M | | | Taranis has raised a $40 million Series D led by Inven Capital. The company, which has offices in the US, Israel and Brazil, offers a crop intelligence platform for agriculture advisers and growers. | | | | | | | Arize AI pockets $38M Series B | | | | | | | | Teenage founder raises $30M for Community Labs | | | | | | | | | | | | | | | 21.co valued at $2B with new funding | | | Zurich-based 21.co has raised $25 million in a round led by Marshall Wace at a $2 billion valuation. Its main products are 21 Shares, an issuer of cryptocurrency exchange-traded products, and token provider Amun. | | | | | | | Open Raven bags $20M Series B | | | Open Raven has raised $20 million in a round led by Pelion Ventures. The startup specializes in data security posture management. | | | | | |
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| LLR Partners backs Vantage Point Logistics | | | | | | | | Sentinel Capital lands SmartSign | | | | | | | | FFL exits stake in Accordion | | | | | | | | American Securities acquires Meridian Adhesives Group | | | | | | |
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| Tailwater to sell NorTex Midstream to Williams Field for $423M | | | | | | |
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| BayPine wraps up first fund on $2.2B | | | Boston-based BayPine has closed its inaugural private equity fund on $2.2 billion. Including capital from co-investors, the fund has roughly $3 billion to deploy. The firm targets upper-middle-market businesses in the healthcare, consumer, specialty industrials and business services sectors. | | | | | | | Ardian closes fifth Americas infrastructure fund on $2.1B | | | Ardian has closed its fifth Americas infrastructure fund on $2.1 billion. The fund will invest in mid-market US companies in the telecommunications, transportation and energy transition sectors. | | | | | | | PowerPlant picks up $330M | | | PowerPlant Partners has closed its third flagship fund on $330 million. The vehicle will make investments of up to $40 million in consumer-facing companies making a positive impact on people and the planet. | | | | | |
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