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The Daily Pitch: VC

May 24, 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:

Fossil fuel deals and funds are drawing renewed interest from PE investors following years of efforts to transition to a greener economy.

Our analyst note on real estate investing breaks down the sector by industry dynamics, economic drivers, terminology and more.

Our recent market map offers a visual breakdown of how the pandemic has caused the mobility tech sector to shift gears.

Today's Top Stories

Analyzing real estate investing strategies, economic drivers and more

Real estate attracts increased attention from private markets investors during periods of inflation, and this recent bout has been no different.

Terminology, industry dynamics, investment strategies and other factors may appear opaque or difficult to tie together for investors looking to move into the real estate space, and many are still attempting to glean the finer points of how to approach the asset class. Meanwhile, for those pursuing real estate investments for their inflation-hedging abilities, a second look may be merited.

Our recent analyst note on the space provides a clear and comprehensive picture of private markets real estate investing strategies, sectors and economic drivers.

read it now

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PE investors revive appetite for fossil fuels

(zhongguo/Getty Images)

Oil and gas deals were on the rise during the first quarter of the year as PE firms increasingly took advantage of market volatility and rising energy prices. Funds in the sector also drew renewed interest from LPs, following years of efforts to transition into a greener economy.

Investors are walking the line between a clean energy transition and the near-term needs of the energy markets by increasing financing in both renewables and fossil fuel investments.

Recommended Reads

The story of two women-led startups looking to provide a synthetic alternative to baby formula. [Forbes]

As nations accelerate efforts to control data produced within their perimeters, the era of borderless data may be coming to an end. [The New York Times]

Despite hopes that elevated carbon dioxide levels would help stabilize marshes, the wetlands appear to be losing to climate change. [Wired]

Since yesterday, the PitchBook Platform added:

10

VC valuations

1771

People

460

Companies

22

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2010 Vintage Global VC Funds
	A message from Grant Thornton
	PE firms should watch SEC regulatory push
	VC Deals
	Torch secures $40M
	Internet infrastructure provider Meter raises $38M
	Bud scoops up $36.8M
	SwipeRx lands $27M
	Tiger Global leads $25M round for Clicoh
	PayEngine collects $10M

The Daily Benchmark

2010 Vintage Global VC Funds

Median IRR

13.64%

Top Quartile IRR

22.07%

2.02x

Median TVPI

Select top performers

Union Square Ventures Opportunity Fund

IA Venture Strategies Fund I

Third Rock Ventures II

*IRR: net of fees

37 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

A message from Grant Thornton

PE firms should watch SEC regulatory push

SEC Chairperson Gary Gensler is pushing one of the most significant regulatory updates in decades and the rules could have a profound impact on private equity firms. The proposed regulations are primarily focused in three areas:

Increased transparency and disclosure, particularly around fees
Broader disclosure around cybersecurity, including around breaches and attacks
Comparing firms' performance on ESG with their statements

Learn what private equity firms need to know about the proposed regulations and how you should prepare and respond today.

Find out more

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VC Deals

Torch secures $40M

Torch has raised a $40 million Series C led by 137 Ventures. Based in the Bay Area, the company is the provider of a coaching, mentoring and group learning platform for employees. Torch's customers include Zynga and Zendesk.

View round

View 2 competitors »

Internet infrastructure provider Meter raises $38M

Meter has raised a $38 million Series B led by Sequoia and Lachy Groom. Based in San Francisco, the company is a provider of internet infrastructure for customers including Brex, Evernote, Italic and Stord.

View round

View similar company »

Bud scoops up $36.8M

Bud has raised a $36.8 million Series B led by Sequoia India. Founded in 2019 and based in Singapore, the startup offers a virtual platform for users to create and share 3D interactive experiences.

View round

View similar company »

SwipeRx lands $27M

SwipeRx, formerly mClinica, has raised $27 million led by Indonesia's MDI Ventures. The Singapore-based company, which provides a platform for pharmacy professionals, will use the funding to accelerate its growth across Southeast Asia.

View details

View 8 competitors »

Tiger Global leads $25M round for Clicoh

Clicoh has raised a $25 million Series A led by Tiger Global. Founded in 2018, the company offers a logistics platform that helps ecommerce sellers across Argentina, Mexico, Chile and Uruguay track shipments in real time.

View round

View similar company »

PayEngine collects $10M

Los Angeles-based PayEngine has raised a $10 million Series A led by Point72 Ventures. The company offers a payments platform for software vendors across sectors including construction, healthcare and transportation.

View round

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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Chart of the Day

Source: Q1 2022 PitchBook-NVCA Venture Monitor

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fossil fuel deals real estate investing recent market map The Daily Pitch mobility tech sector

PitchBook News - A primer on private markets real estate

Key phrases

Older messages

VCs pull back from foodtech

A reckoning looms for VC excesses

When the market turns bearish...

Ranking the most active investors of Q1

How VC valuations are faring

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