| |
We're updating how we send email. Look for our new news-noreply@news.pitchbook.com address, and add us to your safe senders list.
Check out our FAQ for details. | | | | | |
| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| US PE deal value tops $819B as industry reverts to the 'old normal' | | After a busy start to the year, US PE dealmakers are finally feeling the bite of higher interest rates, with activity in Q3 collectively slowing across M&A, growth equity and recap deals by more than 20% year-over-year.
Yet what may seem like a dramatic decline could also be considered a reset. Far from being a new normal, 2021's blistering pace of activity was an aberration, making the "old normal" of the pre-pandemic years a better comparison for private equity, according to our Q3 2022 US PE Breakdown, sponsored by Stout and DealCloud. Among the takeaways from the report: - Deal value topped $819 billion through Q3—equivalent to the second-highest annual total on record—as PE's resilience and investors' dry powder kept dealmaking on par with 2021 levels through July despite macroeconomic headwinds.
- In the IT sector, investors closed 254 deals worth an aggregate $57.5 billion in Q3, in line with historical quarterly averages, as declining public market valuations spark buyers' interest in high-growth companies.
- For the first time in over a decade, take-privates surpassed $100 billion for the second consecutive year. In a major departure from the past, private debt funds have stepped in where banks left off to finance these deals.
- US PE fundraising totaled $259 billion through Q3, on pace with 2021, yet with many LPs having hit allocation targets for 2022, fundraising is expected to end the year with more of a thud than a bang.
| | | | | | | | | Corporate VCs keep writing checks as other 'tourists' cool on startups | |  | | (Icatnews/Shutterstock) | | | Corporate venture capital firms have participated in more than a quarter of US VC deals in 2022, the highest rate this decade.
That show of strength comes at a time when other nontraditional investors have been retreating, lending more credibility to the idea that CVCs should be considered a core source of capital for startups. | | | | | | | |
| |
| A message from Velocity Global | | |
| Want to attract and retain top global talent? Offer better benefits. | | In a fiercely competitive global hiring landscape, your HR team needs every advantage to stand out to top talent. Separate yourself from a crowded field of employers by offering something that many of your competitors don't: comprehensive, market-specific benefits packages.
Simply put, the world's best talent demands the world's best benefits. That's why offering the right packages helps you recruit and retain top talent across the globe.
Unfortunately, administering global benefits is no easy feat—especially for HR teams that already have their hands full caring for distributed teams. The guide, How to Retain Talent With Global Employee Benefits, explains how you can overcome the challenges of international benefits administration and boost your appeal to top talent worldwide.
Download the guide here | | | | | | | |
| |
| On the podcast: From science fiction to science fact | | Josh Wolfe, co-founder and managing partner of Lux Capital, joins the podcast to discuss why it's always a good time to be investing in groundbreaking tech. From nuclear power to computers that can smell, Wolfe shares why he's bullish on certain sectors.
Check out the episode to hear more about Lux's strategies and which kind of companies—and investors—Wolfe expects to see survive the downturn.
Plus, PitchBook analyst Anikka Villegas shares insights from the latest PitchBook Sustainable Investment Survey and from her analyst note on ESG and impact investing in private market real estate. | | | | | | | | | Rapid delivery e-grocers see funding plunge after pandemic-fueled highs | |  | | (Koshiro K/Shutterstock) | | | The rapid delivery e-grocery market has seen a significant decrease in venture capital interest as economic downturn reverses growth fanned by the pandemic.
With investors seeking a clear path to profitability for their portfolio companies, the sector has suffered layoffs and bankruptcies. | | | | | | | | | | The female founders hoping to fix the gender disparity in cloudtech. [Fortune]
As CEO David Solomon works to shore up the bank's stock market valuation, Goldman Sachs is in for a major reorganization. [Financial Times]
China has abruptly delayed the publication of its third-quarter GDP data. [The Wall Street Journal] | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 530 Deals | 1800 People | 538 Companies | 18 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2012 Vintage Global VC Funds | | | | | | |
| |
| |
| |
| Everett Randle joins Kleiner Perkins as partner | | | | | | |
| |
| |
| Byju's secures $250M from existing investors | | | | | | | | London's Stability AI wraps up $101M | | | | | | | | Viome Life Sciences raises $67M | | | Viome Life Sciences has raised $67 million in a round led by Bold Capital Group. The Series C brings the company's total funding to over $150 million. The microbiome- and diagnostics-focused startup is developing at-home tests for oral and throat cancer and other diseases. | | | | | | | Saudi Arabia's Zid lands $50M | | | Zid has raised a $50 million Series B led by Impact46. The company's platform helps retailers set up and manage their online stores. | | | | | | | Ambi Robotics hauls in $32M | | | | | | | | Greenzie raises $8M for autonomous lawn mowers | | | Greenzie has raised $8 million in a round led by Atlanta Ventures. The company's software enables commercial lawn mowers to work autonomously. | | | | | |
| |
| PitchBook webinar: The state of sustainable investing | | Join PitchBook to discuss the findings from our 2022 Sustainable Investment Survey. Analysts Hilary Wiek and Annika Villegas will touch on report insights, including the politicization of ESG, the increasing popularity of impact investing and challenges in the sustainable investing ecosystem. Key topics include: - The politicization surrounding ESG in 2021 and 2022 has had far-reaching impacts on investors and service providers with US-based investments, clients and stakeholders.
- Investors and advisers seeking to incorporate ESG into their portfolios have varying goals and philosophies, leading to the proliferation of greenwashing allegations.
- How the lack of clarity around defining and measuring impact outcomes and difficulty benchmarking nonfinancial goals were both frequently cited among the top challenges of sustainable investing.
Register now to secure your spot. | | | | | | | |
| |
| |
| Diversis' RFI Global acquires MacroMonitor | | | Diversis Capital has acquired New Jersey-based MacroMonitor as an add-on for its portfolio company, RFI Global, which provides data for financial services companies. | | | | | | | Mollitiam creates platform with crane company acquisition | | | Mollitiam Holdings has purchased an ownership stake in Virginia-based Extreme Crane & Rigging, and the PE firm plans to expand the business through more acquisitions. The deal marks Mollitiam's third platform investment since its founding. | | | | | | | Frontenac's Integris scoops up two IT service providers | | | | | | |
| |
| |
| |
| Blibli targets $3.5B valuation in IPO | | | Global Digital Niaga, parent of Indonesian ecommerce company Blibli, is aiming to raise 8.17 trillion rupiah (about $528 million) in an upcoming IPO. Blibli plans to offer 17.8 billion shares priced between 410 and 460 rupiah each. At the high end of that range, Blibli would be valued at $3.5 billion. | | | | | | | FlyExclusive inks SPAC deal | | | Private jet operator FlyExclusive has agreed to merge with blank-check company EG Acquisition Corp., which is sponsored by EnTrust Global and GMF Capital. The deal is expected to provide FlyExclusive with up to $310 million, including $85 million in convertible notes from sovereign wealth and US institutional investors, at a pre-money valuation of roughly $600 million. | | | | | |
| |
| |
| Will Ventures closes second fund on $150M | | | Will Ventures, a Boston-based venture firm focused on sports and wellness-related startups, has raised $150 million for its second fund. The early-stage firm closed its first fund on $55 million in 2020. Will Ventures said the second fund's limited partners include professional athletes and several team owners. | | | | | | | | | Zenyth closes continuation fund in partnership with BlackRock, Manulife | | | | | | |
| |
| |
| Kanye West plans to buy Parler | | | Ye, the rapper formerly known as Kanye West, has agreed to acquire Parler, a social media app popular with conservatives. Parler's investors include Robert Mercer and Rebekah Mercer, who are major Republican political donors. | | | | | |
| |
| |
| |
| |
.jpg)
No comments:
Post a Comment