PitchBook News - Another rout for global markets

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

Log in

The Daily Pitch: VC

July 5, 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:

Our Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors.

Our new market map lays out the landscape for carbon tech companies that are helping industries monitor and capture emissions.

Today's Top Stories

US markets on pace for worst start to year in decades

Public equities fell again in June, this time coinciding with a fall in many commodities. Central banks continue to fight inflation, causing investor hesitation in public and private markets as recession odds rise.

Meanwhile, corporate bond spreads inch toward stress territory, and US markets are on pace for their worst start to a year in decades. Unicorn creation also declined again, with fewer than 30 being minted in June. However, returns in China and Latin America held silver linings.

PitchBook's latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also includes private markets activity, including major PE and VC deals, IPO performance, and unicorn creation by region. In this monthly digest, we provide the datasets that PitchBook's research team is keeping an eye on as financial markets remain volatile.

Recommended Reads

How one lottery lawyer built a practice giving legal and financial advice to jackpot winners, then lost their millions. [Bloomberg]

DeFi is being threatened by an existential problem that runs much deeper than liquidity crises: It only lends money to itself. [The Wall Street Journal]

As Chinese automakers gear up for a big push into the West, anxiety is mounting as to what—and how much—data is being recorded by vehicles. [Wired]

Since yesterday, the PitchBook Platform added:

18

VC valuations

1591

People

524

Companies

35

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2012 Vintage Global Secondaries Funds
	VC Deals
	Soba raises $13.6M
	Promoted secures $6M
	Fundraising
	Telegraph Hill collects $525M for fifth fund

The Daily Benchmark

2012 Vintage Global Secondaries Funds

Median IRR

12.20%

Top Quartile IRR

16.10%

1.38x

Median TVPI

Select top performers

Dover Street VIII

Pomona Capital VIII

Keyhaven Secondaries Fund I

*IRR: net of fees

13 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Soba raises $13.6M

Soba has raised $13.6 million in seed financing led by Lightspeed, with participation from FTX Ventures. Based in Berlin, the company offers no-code tools for game building through its open-world gaming platform.

Promoted secures $6M

Promoted has raised $6 million in seed financing led by Y Combinator. Based in the Bay Area, the company analyzes user metrics to help online marketplaces and ecommerce businesses sort search results to increase revenue.

View round

View similar company »

Fundraising

Telegraph Hill collects $525M for fifth fund

Telegraph Hill Partners has raised $525 million for its fifth flagship fund. Based in San Francisco, the venture capital and growth equity firm invests in life sciences and healthcare technology companies.

View fund

View 47 investments »