PitchBook News - Venture lenders take the stage

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

Log in

The Daily Pitch: VC

July 25, 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:

After a decade of growth, the alternative protein industry is struggling to maintain momentum.

Amid the downturn, alternative financing has emerged as an attractive option for startups in need of some extra cash.

Despite a myriad of economic challenges, European venture activity has remained robust. We explore five key trends from the first half of 2022.

Today's Top Stories

Are investors hungry for more alternative proteins?

The alternative protein industry—referring to food, drinks or ingredients made with non-animal sources of protein—has experienced explosive growth over the past decade. However, the industry has struggled recently to maintain momentum and faces pressure in the current inflationary environment.

Alt-protein startups collected $883.8 million across 57 deals in Q1 2022. However, quarterly deal values are down 62.6% from the peak in Q3 2021.

Our latest Emerging Tech Research analyst note explores the rise of cultivated protein along with opportunities in sectors including alternative fat and seafood in the face of shifting market conditions. The report includes key VC deals and company spotlights on Meati Foods and BlueNalu.

read it now

Share:

In VC slowdown, alternative financing emerges as a path to funding

(mikroman6/Getty Images)

As venture capital has become much harder to secure amid the downturn, more startups are turning to venture debt and alternative funding products for extending their runway.

Revenue-based financing has emerged as an especially appealing capital solution for companies with contractual or predictable revenue models.

"We have become one of the most attractive [financing] options," said Harry Hurst, co-founder and co-CEO of Miami-based Pipe, a marketplace for selling and buying recurring revenue streams. "It's showtime for us now."

Recommended Reads

When stocks started to tumble early this year, the booming market for carbon credits unexpectedly fell with them. [The Wall Street Journal]

Facing the reality of what ESG can—and cannot—achieve. [The Economist]

How the influence of popular value benchmarks challenges investor faith in the style and even the business of some value managers. [Institutional Investor]

Since yesterday, the PitchBook Platform added:

220

People

65

Companies

See what our data software can do

Quick Takes

	The Daily Benchmark
	2011 Vintage Global Debt Funds
	VC Deals
	TomoCredit nabs $122M
	Theator secures $24M
	EdgeIQ picks up $8.5M

The Daily Benchmark

2011 Vintage Global Debt Funds

Median IRR

8.16%

Top Quartile IRR

9.55%

1.28x

Median TVPI

Select top performers

Davidson Kempner Long-Term Distressed Opportunities Fund

ABRY Advanced Securities Fund II

FCP Fund II

*IRR: net of fees

34 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

TomoCredit nabs $122M

TomoCredit has raised $122 million in equity and debt from investors including Morgan Stanley and MasterCard. Based in the Bay Area, the company designed its digital financial platform to help users build credit and qualify for loans.

View round

View 15 competitors »

Theator secures $24M

Theator has raised $24 million in a Series A extension round led by Insight Partners. The company's surgical intelligence platform helps healthcare professionals manage surgical processes.

View round

View 16 competitors »