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| In today's Daily Pitch, you'll find: | | | | | |
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| PitchBook Benchmarks for PE, VC and more | | Given the largely opaque nature of the private markets, finding transparent fund performance information can be a challenge. Adding to that, fund strategies have expanded over the past decade, alongside the increasing capital allocated to alternative assets.
PitchBook Benchmarks provide a detailed snapshot on the latest data for closed-end fund returns across strategies and vintage years. The new edition is now available, updated through Q1 2022 with preliminary data for Q2. It features downloadable XLS tables, data visualizations and PDFs that slice the data by fund type and geography. | | | | | | | | | Q3 US venture capital trends in five charts | |  | | (hpphtns/Shutterstock) | | | The third quarter of 2022 saw a less resilient venture landscape—deal activity across all stages recorded signs of distress, and investors dealt with a lack of liquidity in the public markets. On the bright side, fundraising rose to record highs during the quarter.
Here's a closer look at five key insights from our Q3 2022 PitchBook-NVCA Venture Monitor that depict how dealmaking, exits, fundraising and valuations responded to complicated macroeconomic trends. | | | | | | | |
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| 5 reasons to go private: could your company benefit? | | Against a backdrop of headwinds in the equity markets and plentiful capital, private equity funds and other investors may see attractive valuations as an opportunity to acquire select public companies and take them private. Middle-market companies could see a wave of go-privates among peers and competitors.
To help understand these dynamics and decide what's best for your company, our new article discusses: - 5 reasons why public companies go private
- The 4% bonus for privatization
- 3 actions for stakeholders at publicly traded middle-market companies to consider
Why companies go private | | | | | | | |
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| PE trends for Q3 explained in five charts | |  | | (Chaosamran_Studio/Shutterstock) | | | US PE dealmaking came under pressure in Q3 2022 as a tightening monetary environment and uncertain economic outlook weighed on the market.
Here is a closer look at five key trends from our latest US PE Breakdown, which explores how PE firms are navigating a challenging market. | | | | | | | | | Big tech set to shop for discounted startups | |  | | (maxsattana/Shutterstock) | | | Acquisitions of venture-backed startups slowed to the lowest levels in years in Q3. But investors and deal advisors expect M&A activity to increase significantly later this year and in 2023.
Merger talks were nearly non-existent in the summer, but it all changed around Labor Day. Large public tech companies are gearing up to buy startups at attractive prices.
"There is a lot [of deal activity] in progress right now," said one tech M&A attorney. | | | | | | | | | | Germany got rich on exports and cheap Russian gas. Now it is poised for a recession that could drag Europe down with it. [The Washington Post]
Victims claim Coinbase didn't protect them from losing $21 million in a crypto scam. [Forbes]
Microsoft's app store provides opportunities for independent software vendors, but it also solidifies the cloud giant's prominence as more and more enterprise software is purchased through the cloud. [Protocol] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 12 Deals | 110 People | 26 Companies | | | | | | |
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| 2015 Vintage North American Real Estate Funds | | | | | | |
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| Matchpoint Therapeutics launches with $100M | | | Matchpoint Therapeutics has raised $100 million in a round led by Sanofi Ventures. Based in the Boston area, the company is a developer of precision small molecule medicines focused on immunology. | | | | | | | | | CoolR has raised $10 million in a round led by First Analysis. The company is a developer of AI-based image recognition technology for consumer brands and retailers. | | | | | | | Synonym Biotechnologies picks up $6.3M | | | | | | |
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| Don't miss our upcoming webinar | | With US midterm elections and potential policy shakeups on the horizon, investors must prepare for possible regulatory changes and their impact on industries such as fintech.
Join Washington, DC, policy analysts John Sonsalla and Ryan Schoen as they share their expected policy outcomes for 2022 and how these may affect credit, partnerships between banks and fintech, crypto and more in the years to come. This discussion will also explore how the Consumer Financial Protection Bureau and the 2024 presidential race may shape the fintech regulatory environment moving forward.
Register now to secure your spot. | | | | | | | |
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| Pamplico, OpenGate swap InRule Technology stake | | | | | | | | Investors eye Qatari broadcaster | | | Saudi Arabia's Public Investment Fund is among several groups that have expressed interest in investing in Qatar-based broadcaster Bein Media Group, Bloomberg reported, citing people familiar with the matter. US PE firms are also among those looking into an investment, the report said. Bein may also consider an IPO. | | | | | |
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| Covetrus faces suit over take-private | | | Three pension funds have filed suit against Covetrus, alleging its $4 billion take-private sale broke state law and violated the company's obligations in a standstill agreement, Bloomberg Law reported. The legal dispute was made public on the same day the animal-health tech company announced it had completed its take-private deal with Clayton, Dubilier & Rice and TPG. | | | | | |
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| DiaCarta to go public via SPAC | | | DiaCarta, a molecular diagnostics startup, has agreed to merge with blank-check company HH&L Acquisition. The deal is expected to provide DiaCarta with about $414 million in cash at a pre-money valuation of around $460 million. DiaCarta received venture backing from Fortune Fountain Capital and BVCF. | | | | | |
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| LongueVue Capital closes $360M fund | | | LongueVue Capital has closed its latest fund, LVC IV, on $360 million. The fund will seek controlling stakes in middle-market businesses across industries including healthcare, life sciences, transportation and food and beverage. | | | | | | | AZ-VC raises $110M to invest in Arizona startups | | | Phoenix-based VC firm AZ-VC has closed its first fund on $110 million. The firm is led by former PayPal executive Jack Selby and targets early- and late-stage startups in Arizona. AZ-VC has invested in proptech startup Mosaic and bookkeeping company Uplinq. | | | | | |
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| GID launches credit platform | | | Real estate investor GID has launched a commercial real estate debt arm. GID Credit will offer floating-rate bridge loans geared toward institutional borrowers. | | | | | |
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