PitchBook News - What's next for fintech valuations

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The Daily Pitch: VC

July 6, 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:

How private valuations for fintech companies might fare, based on the performance of their public counterparts.

Sequoia China's fundraising signals that investor appetite for tech startups in China persists.

Today's Top Stories

How public market caution may shape private fintech company valuations

The stock market decline has brought public valuations to the forefront, along with questions about the future of their private counterparts. In the fintech sector, investors are finding that there's no substitute for core profitability—and their patience might be waning.

Our Fintech Q2 Public Company Valuation Guide tracks stock performance, revenue forecasts and market caps of key publicly traded fintech companies, diving into data that can help illuminate the potential impact of public comps on the private markets. Among the takeaways:

Insurtech stocks have dropped 65% from their peak, outpacing broader market declines, and companies may face investor pressure to restructure or sell.

Four of the five companies in the neobanks, brokers and crypto segment are expected to generate negative earnings through 2024.

Stock prices for high-growth payments and fintech companies have fallen 59% from their peak, yet attractive margins might make public investors more patient with the payments sector.

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Silverton Partners collects $248M to invest in Texas and beyond

(Ryan Martinez/Getty Images)

Silverton Partners, Texas' oldest active venture investor, has raised $248 million across two vehicles, the largest pool of capital in the firm's 16-year history.

With the new funds, Silverton will stick to its long-term strategy, backing seed- and Series A-stage companies, with two-thirds of the capital going to Texas-based startups.

Recommended Reads

One writer's thoughts on why private equity's "Goldilocks era" is coming to an end. [Bloomberg]

Many downtown offices—though threatened by remote work—still have the benefit of a prime location, even if they'll need new facades and nicer interiors. Meanwhile, office parks will need a whole new identity. [The New York Times]

Is Sam Bankman-Fried, the creator of FTX, crypto's last man standing? [The Economist]

Since yesterday, the PitchBook Platform added:

23

VC valuations

1947

People

465

Companies

7

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2010 Vintage Global Real Estate Funds
	VC Deals
	Klarna in talks to raise round at $6.5B valuation
	VulcanForms valued at $1B+
	Orchestra BioMed lands $110M Series D, reveals SPAC merger plans
	Tesorio picks up $17M for AR platform
	MarketWolf trots off with $10M Series A

The Daily Benchmark

2010 Vintage Global Real Estate Funds

Median IRR

12.10%

Top Quartile IRR

17.80%

1.56x

Median TVPI

Select top performers

Fortress Japan Opportunity Fund

Lone Star Real Estate Fund II

Lubert-Adler Fund VI B

*IRR: net of fees

35 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Klarna in talks to raise round at $6.5B valuation

Klarna is planning to raise a new round of funding at a $6.5 billion valuation, The Wall Street Journal reported. The company, which offers buy now, pay later services, became Europe's most valuable VC-backed company in March 2021 at a $31 billion valuation.

View round

View 88 competitors »

VulcanForms valued at $1B+

VulcanForms has raised $355 million and is valued at over $1 billion. Investors in the MIT-founded startup, which provides digital manufacturing infrastructure, include Eclipse Ventures, Stata Venture Partners and Fontinalis Partners.

View round

View similar company »

Orchestra BioMed lands $110M Series D, reveals SPAC merger plans

Orchestra BioMed, a provider of therapeutic products for procedure-based medicine, has raised $110 million from investors including Medtronic, RTW Investments and Perceptive Advisors. The company has also announced plans to go public on the Nasdaq via a combination with Health Sciences Acquisitions Corporation 2, a deal that could provide up to $160 million in gross proceeds to the combined entity and give it a fully diluted pro-forma market cap of $407 million.

View round

View 28 competitors »

Tesorio picks up $17M for AR platform

Tesorio has raised a $17 million Series B led by BAMCAP Ventures. Based in San Francisco, the company offers an accounts receivable management platform.

View round

View 18 competitors »

MarketWolf trots off with $10M Series A

MarketWolf has raised $10 million in a round co-led by Jungle Ventures and Dream Capital, according to reports. Based in Mumbai, the company offers a stock-trading platform focused on first-time investors.

View round

View similar company »

PitchBook Webinar: Private fund strategies, with a spotlight on real estate

Join PitchBook for a webinar discussing the current state of fund performance, with a spotlight on real estate. Our analysts will dive into market dynamics across asset classes, highlighting trends present in the real estate ecosystem.

Key topics include:

An update on private market fund performance and fundraising.

Where emerging managers have had success raising funds, where they have struggled, and why.

How the real estate sector's strategies and property subsectors react to various economic drivers, and what this means for current and future performance.

Register to secure your spot

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Chart of the Day

Source: PitchBook's Q1 2022 Global Private Fund Strategies Report

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PitchBook News - What's next for fintech valuations

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