PitchBook News - Investors home in on real assets

Read online | Don't want to receive these emails? Manage your subscription.

Log in

The Daily Pitch: VC

June 23, 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:

As inflation and rising interest rates continue to rock global markets, private market investors are homing in on real assets.

Germany's Personio hits an $8.5 billion valuation as VC-backed companies increasingly explore extension rounds to shore up capital reserves.

Today's Top Stories

Private investors home in on real assets

As rising inflation and interest rates continue to rock global markets, private market investors are increasingly focused on real assets, due to the stability and protection they offer in volatile times.

Our latest Global Real Assets Report explores trends within infrastructure, oil and gas, agriculture, and more, diving into the data on fundraising and performance. Key takeaways include:

Despite rising interest rates, North American core infrastructure assets drew strong investor interest, likely due to the policy landscape that has helped prime some infrastructure investments for success.

Oil and gas fundraising has represented less than 2% of real assets fundraising since the beginning of last year, but that is expected to change with the impact of the current macroeconomic tailwinds.

Funds targeting Europe and North America have led real assets fundraising in recent years at the expense of Asia. While Asia has represented 10% of overall fundraising since 2008, it accounted for just 3% of assets committed since the start of 2021.

read it now

Share:

HR tech company Personio hits $8.5B valuation with extension round

(Courtesy of Personio)

Munich-based Personio has raised another $200 million for its Series E, increasing its valuation by 35%.

As current market conditions become more challenging, startups are increasingly exploring extension rounds to shore up capital reserves.

Recommended Reads

Geoengineering techniques like spraying aerosols and sucking carbon out of the air would likely bring down temperatures, but what about their unintended consequences? [Wired]

JPMorgan is laying off and reassigning hundreds of home-lending employees as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market. [Bloomberg]

The battle against the SEC's proposed rules on hedge fund activism. [Institutional Investor]

Since yesterday, the PitchBook Platform added:

14

VC valuations

1911

People

616

Companies

11

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2008 Vintage Global Debt Funds
	VC Deals
	FalconX hits $8B valuation
	Glowforge raises $43M
	GV leads $35M round for Courier
	Jackpot nabs $35M to offer online lottery tickets
	Sanas lands $32M for accent translation
	Florence Healthcare picks up $27M
	Fertility startup AiVF secures $25M
	Blackstone joins Veza Series C
	Fundraising
	Vine Ventures collects $140M for sophomore fund

The Daily Benchmark

2008 Vintage Global Debt Funds

Median IRR

9.68%

Top Quartile IRR

14.19%

1.35x

Median TVPI

Select top performers

PIMCO Distressed Mortgage Fund II

Apollo Credit Opportunity Fund I

Apollo Structured Credit Recovery Fund I

*IRR: net of fees

44 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

FalconX hits $8B valuation

FalconX has raised a $150 million Series D co-led by B Capital Group and GIC. The funding values the California-based company at $8 billion. FalconX operates a cryptocurrency trading, credit and clearing platform for institutional clients.

View round

View 11 competitors »

Glowforge raises $43M

Glowforge has raised a $43 million Series E led by DFJ Growth, TechCrunch reported. Based in Seattle, the company is a developer of 3D laser printing technology. Glowforge was valued at $350 million in 2019, according to PitchBook data.

View round

View 5 competitors »

GV leads $35M round for Courier

Courier has raised a $35 million Series B led by GV, with support from Bessemer Venture Partners and Matrix Partners. Based in the Bay Area, the company offers a product notification platform for software developers.

View round

View 18 competitors »

Jackpot nabs $35M to offer online lottery tickets

Jackpot has raised a $35 million Series A co-led by Accomplice and Courtside Ventures. Based in Malta, the company offers an app for users to purchase official US state lottery tickets online.

View round

View similar company »

Sanas lands $32M for accent translation

Sanas has raised a $32 million Series A led by Insight Partners. Based in Palo Alto, the company offers accent translation technology which changes a speaker's accent in real time to reduce language barriers.

View round

View similar company »

Florence Healthcare picks up $27M

Florence Healthcare has raised $27 million in Series C1 financing led by Insight Partners. Based in Atlanta, the company is a provider of clinical trial software which helps research organizations across 45 countries manage their documents, data and workflows.

View round

View 5 competitors »

Fertility startup AiVF secures $25M

AiVF has raised a $25 million Series A led by Insight Partners. Based in Tel Aviv, the company offers an AI-driven in vitro fertilization platform designed to evaluate embryos and automate operations in fertility clinics.

View round

View similar company »

Blackstone joins Veza Series C

Data security platform provider Veza has raised new Series C funds from Blackstone's early-stage investment arm, Blackstone Innovations Investments. The $5 million investment values Veza at $500 million, Axios reported. The company is said to have raised $115 million in total funding.

View round

View similar company »

Fundraising

Vine Ventures collects $140M for sophomore fund

Vine Ventures has raised $140 million for its second flagship fund. The New York-based early-stage VC firm has backed companies including OpenStore, Habi and Komodor.

View fund

View 26 investments »

Chart of the Day

"Angel & seed and early-stage valuations in the UK & Ireland are trending above the records set in 2021, while the late-stage valuation is slightly down from 2021's figure. The early-stage median valuation is €7.8 million through Q1 2022, pacing 28.7% higher than 2021."

Source: PitchBook's Q1 2022 European VC Valuations Report

About PitchBook | Terms of use | Advertise with us | Contact

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.

rising interest rates private market investors The Daily Pitch

PitchBook News - Investors home in on real assets

Key phrases

Older messages

NFT startups bank funds

Agtech blooms with near-record funding

PE's regime change

Crypto meltdown forges fans and skeptics

The future of encryption

You Might Also Like

Crazy 27% coversion from free to paid

What Zoho has that Google doesn’t

What Zoho has that Google doesn’t

Cancelling Your Subscription to TRUST-able - How To Earn Trust for Indie Entrepreneurs

🔍 Abercrombie's Rebrand Playbook

Join Our LIVE Training Right Now

4 reasons to use a CRM for email marketing

🎂 “I Just Created the Coolest Thing Ever”

SEC Lawyers Resign After Debt Box Scandal

Boost Your Revenue: Amy Porterfield’s Tips for Adding a Digital Course to Your Business