PitchBook News - Fertility startups vie for VC access

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The Daily Pitch: VC

April 28, 2022

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

In today's Daily Pitch, you'll find:

Though VCs poured a record amount of capital into fertility tech startups last year, some companies in the sector are still feeling left out.

German VC investing has boomed over the last five years, driven by plentiful capital, low interest rates and government support for startups and founders. We take a look at the 10 most active German VCs.

Our latest European PE Breakdown reveals that Q1 dealmaking held strong despite an unpredictable macroeconomic environment.

Today's Top Stories

As more VC money floods into fertility, some startups are feeling left out

(Hector Roqueta Rivero/Getty Images)

VC investment in fertility tech reached record levels last year as conversations around reproductive health improved and infertility rates increased.

Despite this, startups developing alternative reproductive tech that can provide treatment earlier in the process are often being overlooked.

Recommended Reads

A visual breakdown of how the biggest tech giants make their billions. [Visual Capitalist]

Where is Elon Musk getting $46.5 billion to buy Twitter? A buyout loan from the likes of Morgan Stanley and Barclays, a loan against his Tesla stock and a lot of his own cash. [The Wall Street Journal]

As the era of cheap money appears to be coming to an end, investors will have to adapt in their search for yield. [The Economist]

Since yesterday, the PitchBook Platform added:

14

VC valuations

1603

People

444

Companies

35

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2014 Vintage Global Secondaries Funds
	VC Deals
	Mavrck secures $135M
	FreeWire brings in $125M
	Veza emerges from stealth with $110M+
	Maverick Capital leads $75M round for Coherent
	Ashvattha Therapeutics bags $69M
	Strider Technologies raises $45M Series B
	Concert Health picks up $42M
	Enveil secures $25M

The Daily Benchmark

2014 Vintage Global Secondaries Funds

Median IRR

14.55%

Top Quartile IRR

15.78%

1.44x

Median TVPI

Select top performers

Greenspring Secondaries Fund I

Glouston Private Equity Opportunities V

LPE Astraeus

*IRR: net of fees

15 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Mavrck secures $135M

Mavrck has raised $135 million from Summit Partners to buy Canadian social media marketing platform Later. Based in Boston, Mavrck provides an influencer marketing platform for enterprise consumer brands.

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FreeWire brings in $125M

FreeWire has raised $125 million, consisting of a senior convertible note from BlackRock and equity financing from investors including bp ventures, Riverstone Holdings and Octave Ventures. The California-based company is a provider of battery-integrated electric vehicle charging stations and other power solutions.

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Veza emerges from stealth with $110M+

Veza, the provider of a data security platform, has raised more than $110 million from investors including Accel, Bain Capital and Ballistic Ventures. The company was founded in 2020 and is based in California.

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Maverick Capital leads $75M round for Coherent

Coherent has raised a $75 million Series B led by Maverick Capital. The startup is the developer of a no-code SaaS platform designed to help companies create customized APIs from existing infrastructure. Coherent raised a $14 million Series A in 2020.

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Ashvattha Therapeutics bags $69M

Ashvattha Therapeutics has raised a $69 million Series B led by Huadong Medicine. The Redwood City, Calif.-based company develops therapeutics for neurology, ophthalmology, inflammatory diseases and more.

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View similar company »

Strider Technologies raises $45M Series B

Strider Technologies has raised $45 million in a round led by Valor Equity Partners. The company offers a risk management platform intended to help organizations protect their intellectual property from theft.

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Concert Health picks up $42M

Behavioral health medical group Concert Health has raised a $42 million Series B led by Define Ventures. The San Diego-based company helps general practitioners and women's health physicians treat depression and anxiety in primary care settings.

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View 8 competitors »

Enveil secures $25M

Enveil has raised a $25 million Series B led by USAA, with support from investors including Capital One Ventures, C5 Capital and DataTribe. Enveil's platform maintains the privacy and security of data while it is being used or processed.

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View 37 competitors »

PitchBook Webinar: Q1 2022 Venture Monitor

Join PitchBook and industry experts from JP Morgan, Insperity and NVCA on May 5 for a webinar covering our Q1 2022 Venture Monitor Report. This webinar will discuss upcoming market changes brought about by factors such as interest rates and public market volatility.

Topics will include:

Stagnancy in deal activity and the stress it places on certain areas of the market.

The Q1 downturn in public listings, resulting in only 28 IPOs or deSPAC transactions, and how it affects high-value, late-stage companies.

Back-to-back record quarters for dry powder as fundraising hit a new commitment record of $73 billion in Q1, following one of the best markets in 2021.

Register now to secure your spot

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Chart of the Day

"First-time fundraising has been especially muted through the start of the year, with only $3.1 billion raised across 30 new managers. We expect this trend to continue throughout the next couple of quarters as LPs get back on stable ground with their allocations to non-VC assets."

Source: Q1 2022 PitchBook-NVCA Venture Monitor