PitchBook News - Ranking the most active investors in Q2

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The Daily Pitch: VC

July 29, 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 Q2 2022 PitchBook-NVCA Venture Monitor is now updated with league tables ranking VC's most active investors.

Despite macro headwinds, PE fundraising is on pace for a record year.

David Magerman, formerly of Renaissance Technologies, discusses whether quantitative methods can work in VC.

Today's Top Stories

Strong fundraising in Q2 a positive sign for VC market

The second quarter of 2022 saw a tighter investing environment for the US venture ecosystem. However, several areas of the VC market seem to be relatively unaffected thus far—including the earliest stages of venture, which continue to show strong dealmaking activity, and fundraising for large VC funds, which continue to attract interest from LPs.

The latest PitchBook-NVCA Venture Monitor, sponsored by Insperity and J.P. Morgan, now includes league tables ranking the industry's most active players. The report details how dealmaking, exits, fundraising and valuations responded to venture investors reassessing their investment pace and strategies during Q2. Key takeaways include:

More than 100 late-stage mega-deals were closed for the sixth consecutive quarter, but the final tally for Q2 is the lowest during that streak by roughly 26%.

The IPO window was virtually shut in Q2 as VC-backed public listings reached a 13-year quarterly low.

Fundraising topped $120 billion for the second consecutive year, driven primarily by established managers across the US.

read the report

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PE fundraising capital on pace for record year despite wavering global markets

(Nuthawut Somsuk/Getty Images)

PE firms raised $176 billion across 191 funds through the first half of 2022 and are on pace to surpass last year's fundraising value total.

Mega-funds have made up a majority of this year's fundraising value, and more funds sized over $5 billion are expected to close by December.

Recommended Reads

Jack Ma plans to cede control of Ant Group, as the Chinese fintech giant seeks to move on from a tough year. [The Wall Street Journal]

The buy now, pay later juggernaut is about to be tested. [Bloomberg]

The story of the decadelong, stop-and-start quest to build a better fee structure. [Institutional Investor]

Quick Takes

	The Daily Benchmark
	2017 Vintage European Real Assets Funds
	VC Deals
	Retool hits $3.2B valuation
	Estonia's Crypto Snack scoops up $50M
	Diagnostic Robotics grabs $45M
	Frontegg nabs $40M
	Ozette takes in $26M Series A
	Stadium Live raises $10M
	Fundraising
	Portage eyes $1B for fintech fund

The Daily Benchmark

2017 Vintage European Real Assets Funds

Median IRR

9.00%

Top Quartile IRR

11.63%

1.09x

Median TVPI

Select top performers

Ardian Secondary Fund VII Infrastructure

Infracapital Greenfield Partners I

Actis Energy 4

*IRR: net of fees

17 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Retool hits $3.2B valuation

Retool has raised $45 million at a $3.2 billion valuation from investors including Sequoia. Based in the Bay Area, the company makes an application development platform for internal tools.

View round

View 13 competitors »

Estonia's Crypto Snack scoops up $50M

Online gaming cryptocurrency Crypto Snack has secured a $50 million investment from GEM Digital.

View details

View 2 investments »

Diagnostic Robotics grabs $45M

New York-based Diagnostic Robotics has raised a $45 million Series B led by StageOne. Its predictive analytics software is used by healthcare professionals to manage patient care.

View round

View 1 competitors »

Frontegg nabs $40M

Frontegg has raised a $40 million Series B led by Insight Partners. The company, based in Tel Aviv, has a user management platform for B2B apps.

View round

View 64 competitors »

Ozette takes in $26M Series A

Ozette, a developer of a single-cell immune monitoring platform, has raised $26 million in a round led by Madrona Ventures.

View round

View similar company »

Stadium Live raises $10M

Stadium Live has raised a $10 million Series A co-led by KB Partners and Union Square Ventures. Based in Toronto, Stadium Live offers a sports-entertainment platform.

View round

View similar company »

Don't miss our upcoming webinar

Join our supply chain webinar to get up to speed on the substantial changes in this industry over the past two years and what to expect in the future. Though supply chains have struggled to meet demands through the COVID-19 pandemic, the space continues to see innovation and VC interest.

In this webinar, our analysts will explore some of the new technologies expected to address major industry pain points and how this may impact future VC activity. Key topics include:

The trajectory of supply chain developments.
Past and present VC deal activity.
Emerging tech opportunities that could help global supply chain industries.

Register now to secure your spot.

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Fundraising

Portage eyes $1B for fintech fund

Sagard subsidiary Portage has launched a late-stage structured equity fund, Portage Capital Solutions. The firm is aiming to raise between $750 million and $1 billion to back fintech companies seeking to avoid valuation drops in the downturn, Reuters reported.

View details

View 65 investments »

Chart of the Day

Source: Q2 2022 PitchBook-NVCA Venture Monitor

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PitchBook News - Ranking the most active investors in Q2

Older messages

Tracking the macro effect on M&A

A bad break for Europe's first-time funds

VC fundraising marches toward record

Venture lenders take the stage

Heat waves hold investors' feet to the fire

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