PitchBook News - Global fund performance holds strong

Analysis: What comes next for NFTs?; John Doerr gives $1B+ for new climate school; Magnify Ventures announces $52M fund; Sentry hits $3B+ valuation
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Daily Pitch: VC
May 5, 2022
Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A
Ads
In today's Daily Pitch, you'll find:
  • Our latest Global Fund Performance Report uses data through Q3 2021 to provide a comprehensive look at the returns of various fund strategies.

  • Critics will say this is the beginning of the end for NFT projects, which have been characterized largely by over-promises and flash over substance, but PitchBook analyst Ryan Vaswani makes the case for a different outcome.

  • Kleiner Perkins chair John Doerr is donating $1.1 billion to fund a Stanford University climate school as the firm sits out a cleantech resurgence.
Today's Top Stories
Global fund performance holds strong, but a decline could be on the horizon
One-year horizon IRRs through Q3 2021 remained incredibly strong despite another wave of COVID-19 during the quarter that raised concerns about a pullback in performance. Returns to date indicate that the majority of private market funds have been able to pivot to handle pandemic-related challenges.

Our latest Global Fund Performance Report uses data through Q3 2021 as well as some preliminary Q4 figures to provide a comprehensive look at the returns of various fund strategies. We also examine why public market comparisons may lead to disappointing private markets performance in coming quarters. Key highlights of the report include:
  • PE returns cooled in Q3 2021, dropping to 6.8% amid a quickly changing macroeconomic backdrop. That figure represents the strategy's lowest quarterly IRR since Q1 2020.

  • Real estate hit a 17.2% one-year horizon IRR, its best one-year performance since 2014, with preliminary Q4 IRR suggesting a bright future for the asset class.

  • Private debt performance waned drastically during the quarter, but still remains strong on an annual basis, though deceleration of these figures is anticipated in coming quarters.

  • Secondaries funds stepped up to a new level of fundraising in 2020 and experienced a substantial uptick in performance during 2021, notching a one-year horizon IRR of 52.5%.
read the report
 
Share:   Email    LinkedIn    Twitter    Facebook
After a crash, what comes next for NFTs?
(Andrei Askirka/Getty Images)
The red-hot market for NFTs is freezing over as transactions and daily sales plummet.

Critics will say this is the beginning of the end for NFT projects, which have been characterized largely by over-promises, "rug pull" scams and flash over substance.

PitchBook analyst Ryan Vaswani makes the case for a different outcome: The purge in NFT speculation will refocus entrepreneurs on bringing clear value to digital assets.
read the analysis
 
Share:   Email    LinkedIn    Twitter    Facebook
A message from Velocity Global
How asynchronous work benefits your team
Asynchronous work is when a company's roster isn't expected to be online at the same time or complete their work simultaneously. This model gives employees scattered across multiple time zones the flexibility to get work done on their terms.

However, asynchronous work isn't without challenges. These models require transparency, communication, and documentation across different borders and multiple time zones.

Read Velocity Global's guide to async work to learn how to implement a successful strategy so your office can hire anyone, anywhere in the world.
Share:   Email    LinkedIn    Twitter    Facebook
John Doerr gives $1.1B to climate school as Kleiner Perkins sits out cleantech resurgence
(Andriy Onufriyenko/Getty Images)
An enthusiasm for planet-saving tech has firmly gripped the venture industry. But Kleiner Perkins, a onetime leader in the space, has largely sat on the sidelines of the recent wave.

The firm's actions contrast those of chair John Doerr, who, along with his wife Ann Doerr, is donating $1.1 billion to Stanford University for the creation of a new school focused on sustainability and climate change.
read more
 
Share:   Email    LinkedIn    Twitter    Facebook
Recommended Reads
The story of how one Vietnamese blockchain unicorn turned the country into the world's most surprising crypto startup hotspot. [Fortune]

Nintendo of America president Reggie Fils-Aimé on the Wii's launch in the US and why he thought it would get him fired. [Fast Company]

As online platforms have increased their dominance, many have leveraged their power by raising fees and changing rules. At what cost? [Harvard Business Review]
Ads
Since yesterday, the PitchBook Platform added:
15
VC valuations
1149
People
297
Companies
29
Funds
See what our data software can do
 
Quick Takes
  The Daily Benchmark  
  2010 Vintage Global Funds-of-Funds  
  People  
  Sameer Dholakia joins Bessemer as partner  
  VC Deals  
  Sentry hits $3B+ valuation  
  Mosyle secures $196M  
  Tailscale nabs $100M Series B  
  Apnimed locks down $62.5M  
  Allocate raises $15.3M  
  Sensible Weather snaps up $12M  
  Fundraising  
  Magnify Ventures announces $52M fund  
 
 
Ads
The Daily Benchmark
2010 Vintage Global Funds-of-Funds
Median IRR
13.13%
Top Quartile IRR
15.20%
1.79x
Median TVPI
Select top performers
Commonfund Capital Venture Partners IX
OTRS/FP Private Equity Fund
TrueBridge-Kauffman Fellows Endowment Fund II
*IRR: net of fees
49 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
People
Sameer Dholakia joins Bessemer as partner
Sameer Dholakia has joined Bessemer Venture Partners as partner. An industry veteran, Dholakia previously served as CEO at SendGrid and VMLogix. In his new role, Dholakia will focus on the firm's growth investment practice.
View details
 
 
VC Deals
Sentry hits $3B+ valuation
Sentry has raised a $90 million Series E co-led by Bond and Accel that values the company at more than $3 billion. San Francisco-based Sentry offers an application monitoring platform that tracks errors, performance and more.
View round
 
View 3 competitors »
 
Mosyle secures $196M
Mosyle has raised a $196 million Series B led by Insight Partners. The company offers a unified software platform that helps businesses and educational institutions manage Apple devices.
View round
 
View 2 competitors »
 
Tailscale nabs $100M Series B
Tailscale has raised $100 million in a round co-led by CRV and Insight Partners. The Toronto-based company is the provider of a corporate virtual private network for banks and other organizations.
View round
 
View 2 competitors »
 
Apnimed locks down $62.5M
Apnimed has raised $62.5 million in a round led by Sectoral Asset Management. Based in the Boston area, the company is a developer of pharmacologic treatments for people affected by obstructive sleep apnea and related disorders.
View round
 
View similar company »
 
Allocate raises $15.3M
Allocate has raised a $15.3 million Series A led by M13. Based in the Bay Area, the company's digital investment platform helps tech startups access noninstitutional venture capital investors.
View round
 
View similar company »
 
Sensible Weather snaps up $12M
Sensible Weather has raised a $12 million Series A led by Infinity Ventures. The company provides a climate risk analytics platform, and partners with the hospitality and recreation industries to offer customers weather-related travel reimbursements. Sensible raised a $4 million seed round in December.
View round
 
View similar company »
 
Fundraising
Magnify Ventures announces $52M fund
Magnify Ventures has debuted with $52 million in new funding. Based in Los Angeles, the early-stage firm backs companies related to parenting and family life, the future of work, household optimization and aging and longevity. Magnify Ventures' portfolio includes startups like employee leave platform Cocoon and Seven Starling, a provider of postpartum therapy.
View fund
 
View 4 investments »
 
Chart of the Day
Source: PitchBook's H2 2021 Greater China Venture Report
About PitchBook | Terms of use | Advertise with us | Contact

Follow us:   in   twtr   fb

This email was sent to you via the PitchBook Platform.

Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here.

© 2022 PitchBook Data. All rights reserved.
Venture capital, private equity and M&A financial information technology provider.

Older messages

Global Markets Snapshot: Volatility takes a toll

Wednesday, May 4, 2022

Nontraditional investors begin to retreat; Catalio closes $381M+ life sciences fund; Zepto carts off $200M; Teleport locks onto $110M Read online | Don't want to receive these emails? Manage your

A mixed bag for late-stage VC

Tuesday, May 3, 2022

US VC strong in the face of uncertainty; QED adds Victoria Zuo as principal; Hello Heart brings in $70M; Tribe Capital leads $50M round for LinearB Read online | Don't want to receive these emails?

Playground Global bets on future tech

Monday, May 2, 2022

VCs rush to nab NFT startups; Adona Medical brings in $37.5M; Vanilla raises $30M; Ictero Medical picks up $6M Read online | Don't want to receive these emails? Manage your subscription. PitchBook

How crypto startups are rewriting CVC rules

Sunday, May 1, 2022

Plus: Take the PitchBook News Quiz, PE carries Q1 M&A activity, Germany's VC investing boom, fertility tech funding & more Read online | Don't want to receive these emails? Manage your

Our book recommendations

Saturday, April 30, 2022

Also: Global M&A activity stays resilient, but new deals are slowing; Don't miss our live Acquired show in Seattle and our upcoming webinar on US VC! Read online | Don't want to receive

Surf Report: Yelling shark

Sunday, May 22, 2022

Listen now | Issue 77: 05.22.2022 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

How to Raise Extra Capital From Existing Investors Right Now; Plus Weekly SaaS News and Updates

Sunday, May 22, 2022

The latest SaaStr articles and Cloud news To view this email as a web page, click here saastr weekly Hey SaaStr Community, There's a lot of panic from VCs now. The markets, at least for now, for

The Profile: The man who controls computers with his mind & the death chamber doctor

Sunday, May 22, 2022

Today's Profile features Nell Diamond, Dennis DeGray, Grimes, and more. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

157 - Jimmy Daly

Sunday, May 22, 2022

Jimmy Daly is the founder and CEO of Superpath, a 7000+ person community for content marketers ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Marketing Weekly #76

Sunday, May 22, 2022

How To Audit Your Instagram Account In 5 minutes By Yourself? • The Best Way to Plan OKRs • My 7 Most Miserable Facebook Ad Mistakes Building A $9000/Month Side Business • What is a Lead Magnet? (Plus

A reckoning looms for VC excesses

Sunday, May 22, 2022

Plus: Churchill expects private debt to shine; Latin America's most active VCs; mobility tech shifts gears & more Read online | Don't want to receive these emails? Manage your subscription.

Sunday Thinking

Sunday, May 22, 2022

"Choosing to act from a place of love​ ​rather than fear will always bring harmony to the present moment." May 22, 2022 | Read Online Sunday Thinking "Choosing to act from a place of

TA #113: 😎 Some big news!

Sunday, May 22, 2022

Hey, you. You're doing great. Click here to read this on the web. Ann Handley's biweekly/fortnightly newsletter, "Total Annarchy" Everybody Re-Writes funny cover Source: Me having fun

Brain Food: Boredom & Impatience

Sunday, May 22, 2022

FS | BRAIN FOOD No. 473 — May 22, 2022 — Read on FS Welcome to Sunday Brain Food: a weekly newsletter full of ideas and insights that never expire. FS “Do not use power to suppress opinions you think

Recruiting Brainfood for the week ahead - Issue #293

Sunday, May 22, 2022

Brainfood Jobs: Great to see GSK and Microsoft amongst the employers hiring on Brainfood Jobs Job Boa View online Hung Lee Hung Lee @hunglee Brainfood Jobs: Great to see GSK and Microsoft amongst the