PitchBook News - Ranking the most active investors of Q1

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The Daily Pitch: VC

May 20, 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:

A look at some of the key trends shaping the Nordic venture capital market.

Our Q1 2022 Global League Tables, ranking the top investors, advisers and more across PE and VC.

Test your private markets knowledge with this week's PitchBook News Quiz.

Today's Top Stories

Ranking the most active investors of Q1

After months of record-breaking investment, 2022 seemed poised to continue the trend. By the end of Q1, the public markets were in turmoil, yet private market activity remained strong throughout the first quarter.

Curious who led the way? PitchBook's interactive Global League Tables are now available for Q1 2022, spanning the full spectrum of activity across PE and VC. The tables break down the most active investors by region, industry, deal type and more, and also rank advisers, acquirers and law firms.

see the rankings

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Mapping the Nordic region's VC ecosystem

(arnaudbertrande/Getty images)

Venture investments in the Nordic region have steadily grown over the past decade as its startup ecosystem continues to mature.

Here's a look at some of the key trends that are shaping the Nordic VC market.

Recommended Reads

As global markets shudder, investor sentiment about China ranges from exuberant to highly cautious. [Institutional Investor]

There is no shortage of automated software that promises to make the web more accessible, but people with disabilities say AI can only go so far. [Protocol]

Why Guggenheim Partners' Scott Minerd thinks the coming summer could be very reminiscent of the collapse of the dot-com bubble. [Fortune]

Since yesterday, the PitchBook Platform added:

9

VC valuations

1799

People

408

Companies

36

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2019 Vintage Global Secondaries Funds
	VC Deals
	Velocity Global scores $400M in Series B
	SpotOn valued at $3.6B with latest round
	Xendit picks up $300M Series D
	Masterschool grows with $100M seed round
	Belong boxes up $80M
	Noyo nabs $45M
	Fetcher fetches $27M Series B
	SaaS purchasing platform Vertice lands $26M
	Tiger Global leads $26M round for Bravado
	ChargeLab collects $15M Series A
	Azra Games grabs $15M
	Exits & IPOs
	Data intelligence specialist Near to go public via SPAC
	Turkish mobility startup Marti to list by SPAC merger
	Surf Air Mobility to combine with Southern Airways, plans SPAC merger

The Daily Benchmark

2019 Vintage Global Secondaries Funds

Median IRR

44.02%

Top Quartile IRR

63.84%

1.48x

Median TVPI

Select top performers

ICG Strategic Equity Fund III

HarbourVest Partners XI-Micro Buyout

Banner Ridge Secondary Fund III

*IRR: net of fees

14 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Velocity Global scores $400M in Series B

Eldridge and Norwest Venture Partners have led a $400 million Series B for Velocity Global, giving the Denver-based startup a multibillion-dollar valuation. Velocity Global's cloud-based platform helps users in over 185 countries onboard, manage and pay their employees.

View round

View 28 competitors »

SpotOn valued at $3.6B with latest round

SpotOn has raised a $300 million Series F led by Dragoneer Investment Group, valuing the company at $3.6 billion. The San Francisco-based startup offers point-of-sale solutions for restaurants, retail businesses and enterprise venues. SpotOn was valued at $3.15 billion in September.

View round

View 39 competitors »

Xendit picks up $300M Series D

Coatue and Insight Partners have led a $300 million Series D for Xendit, the Jakarta-based provider of a payments infrastructure platform. Xendit serves over 3,000 customers across Southeast Asia. Accel and Tiger Global also participated, among others.

View round

View 44 competitors »

Masterschool grows with $100M seed round

Tel Aviv-based Masterschool has collected $100 million in seed funding led by Group 11. Founded in 2019, the company provides a network of tech career-training schools that allow students to pay for courses as they're hired in the field.

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View similar company »

Belong boxes up $80M

Belong has raised an $80 million Series C led by Fifth Wall. The San Mateo, Calif.-based startup offers a property management platform for renters and landlords.

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View similar company »

Noyo nabs $45M

Noyo has raised a $45 million Series B led by Norwest Venture Partners. The startup offers an API platform for employee benefits administration. Norwest partner Ed Yip has joined Noyo's board.

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View 1 competitors »

Fetcher fetches $27M Series B

Fetcher, the creator of a recruiting automation platform, has raised a $27 million Series B led by Tola Capital. The New York-based startup has now raised about $40 million in total funding.

View round

View 68 competitors »

SaaS purchasing platform Vertice lands $26M

Bessemer Venture Partners and 83North have led a $26 million Series A for London-based Vertice. The startup's platform is designed to help companies buy software and negotiate contracts.

View details

View similar company »

Tiger Global leads $26M round for Bravado

Bravado, a network for B2B sales professionals, has raised a $26 million Series B led by Tiger Global. The startup has also announced its acquisition of CompGauge, a provider of salary data, company reviews and interview insights for tech sales representatives.

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View 3 competitors »

ChargeLab collects $15M Series A

King River Capital has led a $15 million round for ChargeLab, a creator of software that's used for managing electric vehicle charging equipment. The startup raised a $4.3 million seed round in 2021.

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View similar company »

Azra Games grabs $15M

Blockchain game developer Azra Games has raised a $15 million seed round led by Andreessen Horowitz. The funds will be used to help the Sacramento-based startup create its first game, "Project Arcanas."

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View similar company »

PitchBook Webinar: VC interest and digitization continue to drive foodtech

PitchBook will be hosting a webinar on May 31 to discuss foodtech's continued momentum relative to our Q1 2022 Foodtech Report. Our analyst will examine the sector's continued VC activity and evolution toward digitization led by app-based delivery models, consumer behaviors and more.

Key takeaways include:

Food ecommerce and mobile commerce continue to attract venture capital funding.

Online grocers tap into cost-saving solutions for consumers as grocery prices skyrocket.

Meal kits regain popularity as consumers look for new and novel ways to prepare meals at home.

Click here to register for the webinar now. If you can't tune in to the live event, RSVP anyway and we'll send you a recording afterward.

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Exits & IPOs

Data intelligence specialist Near to go public via SPAC

Near, a provider of data intelligence on people, places and products, has agreed to go public on the Nasdaq through a combination with special-purpose acquisition company KludeIn I Acquisition Corp. The deal would result in a post-transaction pro-forma market cap of nearly $1 billion and generate some $268 million in gross proceeds.

View details

View 78 competitors »

Turkish mobility startup Marti to list by SPAC merger

Marti, the developer of an e-scooter and bike-sharing app, has agreed to go public through a merger with blank-check company Galata Acquisition Corp., Bloomberg reported. The SPAC, which is listed on the NYSE, raised $125 million last year. Marti is currently backed by investors including Actera.

View details

View similar company »

Surf Air Mobility to combine with Southern Airways, plans SPAC merger

Surf Air Mobility, a Los Angeles-based electric aviation and air travel company, has agreed to merge with Southern Airways Corporation, a commuter airline serving 39 US cities. Surf Air has also announced its plans to go public through a merger with blank-check company Tuscan Holdings Corp. II.

View details

View 14 competitors »

Chart of the Day

"Real estate appears to be consolidating into fewer and much larger funds. That said, while there have been few funds over $5 billion in capital raised, the main focus of LP commitments was funds between $500 million and $5 billion. Supporting the aforementioned assertion that this has become a tough market to break into, roughly 75% of capital raised in 2021 went to funds in that range."

Source: PitchBook's H2 2021 Global Real Estate Report

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PitchBook News - Ranking the most active investors of Q1

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How VC valuations are faring

PitchBook analysts' key trends to watch

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