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The Daily Pitch: VC

June 22, 2022

The Daily Pitch is powered by PitchBook’s industry-defining research and best-in-class data

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

Severe disruptions have revealed weaknesses in the global supply chain, opening opportunities for PE investment in the sector.

Investors are anticipating a bright future for NFT marketplaces despite waning interest in digital collectibles in recent months.

A look at 2022's largest PE take-privates in the healthcare sector.

Today's Top Stories

Exploring PE opportunities in supply chain tech

Supply chain tech—which leverages data and analytics, AI and machine learning—is crucial to the transformation of the supply chain. Severe global disruptions in the last couple years revealed critical weaknesses across operations and have highlighted the need to strengthen and transform the industry, placing new urgency on stakeholders to re-evaluate their strategies.

Our latest analyst note explores the growing complexity of the supply chain due to globalization and ecommerce, and how private equity can benefit from investments in this tech sector.

Some key takeaways include:

Global supply chains buckled under labor shortages, distortions to demand and constricted capacity of manufacturing and logistics services. Technology is crucial to strengthen their resilience by improving efficiency, flexibility and visibility.

Private equity investors can benefit from the fragmented tech-enabled services market to drive scale and value in more established companies through additional capital, add-on acquisitions and expansion in both geography and services.

Logistics and transportation are core subsegments of supply chain tech in which technological capabilities can drive significant long-term growth.

read it now

NFT startups bank funds in face of trading drop

(Alexi Rosenfeld/Getty Images)

NFT startups have gathered in New York for an annual convention, prompting a new wave of funding announcements headlined by NFT marketplace Magic Eden's $130 million round.

The docket of good news contrasts recent headlines that have cast the NFT experiment—and crypto more broadly—as a passing fad whose latest hype cycle is quickly fading.

A message from Altvia

Preferred Return Podcast: It's time for angel investing to evolve

Angel communities have been held back by manual tools and workflows that prevent collaboration on deal flow, slow down investing decisions and, ultimately, prevent broader participation from those that would like to invest in the startup asset class without the typical constraints of investing in a VC fund.

Jason Burke, Founding Partner at TBD Angels, decided it was time to take matters into his own hands by building software to solve the challenges he was experiencing firsthand. Thus, All Stage was established to provide investment ecosystems with a modern technology platform. Tune in to learn more; the future for All Stage and angel investors everywhere appears to be brighter than ever.

Click here to listen to this episode.

TPG to boost healthcare portfolio with $1B+ Convey take-private

(tommy/Getty Images)

TPG has agreed to take healthcare technology and services company Convey Health Solutions private for roughly $1.1 billion in the third largest healthcare take-private announced so far this year.

Let's take a look at 2022's largest PE take-privates within the healthcare sector.

LocalGlobe raises $500M to fund Europe's "New Palo Alto" amid rebrand

(PM Images/Getty Images)

Phoenix Court Group, the investor behind LocalGlobe, has raised an initial $500 million to support startups from seed stage to exit.

The capital, which will be spread across four funds, will be used to focus on growing startups in an area that the firm calls the "New Palo Alto."

Recommended Reads

Charities including the Bill & Melinda Gates Foundation are scrambling to adjust to possible changes in Warren Buffett's estate planning. [The Wall Street Journal]

Every so often, the sun fires off a plasma bomb in a random direction. Our best hope the next time Earth is in the crosshairs? Capacitors. [Wired]

Mark Corigliano, head of private capital at Duke University's $28.6 billion endowment, is considering leaving to start his own hedge fund. [Institutional Investor]

Since yesterday, the PitchBook Platform added:

VC valuations

1541

People

478

Companies

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2009 Vintage Global Real Estate Funds
	VC Deals
	StashFin lands $270M in equity and debt
	LeadSquared hits $1B+ valuation
	Openly brings home $75M Series C
	LogRocket picks up $25M
	MyOme raises $23M
	Rivet secures $20.5M to tackle healthcare billing

The Daily Benchmark

2009 Vintage Global Real Estate Funds

Median IRR

9.63%

Top Quartile IRR

11.83%

1.39x

Median TVPI

Select top performers

LBA Realty Fund IV

Lubert-Adler Fund VI A

GEM Realty Fund IV

*IRR: net of fees

28 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

StashFin lands $270M in equity and debt

StashFin has raised a $70 million Series C from investors including Uncorrelated Ventures, Abstract Ventures and Fasanara Capital, TechCrunch reported. The company, which provides a neobanking platform in India, also collected $200 million in debt financing.

View round

View 23 competitors »

LeadSquared hits $1B+ valuation

LeadSquared has raised a $153 million Series C from WestBridge Capital and existing investors, according to reports. Based in Bengaluru, the company provides sales, marketing and onboarding automation solutions for enterprise customers.

View round

View 9 competitors »

Openly brings home $75M Series C

Openly has raised $75 million from investors including Advance Venture Partners, Clocktower Ventures and Obvious Ventures. Based in Boston, the company offers homeowners insurance via independent agents.

View round

View 24 competitors »

LogRocket picks up $25M

LogRocket has raised $25 million in a round co-led by Delta-v Capital and Battery Ventures. Based in Boston, the company provides software monitoring and analytics services.

View round

View 11 competitors »

MyOme raises $23M

MyOme has raised a $23 million Series B led by Healthcare Venture Partners. Based in Menlo Park, Calif., the company uses its genome analysis platform to provide insights on inherited diseases.

View round

View similar company »

Rivet secures $20.5M to tackle healthcare billing

Rivet has raised a $20.5 million Series B led by Catalyst Investors. The company offers a healthcare billing platform.

View round

View similar company »

Chart of the Day

Source: PitchBook's Q1 2022 Global M&A Report

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