PitchBook News - Global markets bounce back

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The Daily Pitch: VC

August 2, 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 latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets.

SoftBank was involved in more than a third of VC investment in Latin America since 2019, but its caution in 2022 is part of an investor retreat.

A $2.45 billion purchase of PerkinElmer assets marks one of the largest PE deals within the life sciences sector in recent years.

Today's Top Stories

Sweet relief: Global markets see bounceback in July

Central banks continue to fight stagflation fears, while the US has experienced a second consecutive quarterly decline in real GDP—but that didn't stop equity markets from rebounding in July. Negative headlines for housing, energy and labor markets will need to be monitored, though.

Our 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 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 markets remain volatile.

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SoftBank led LatAm's rise, and its retreat

São Paulo (Caio Pederneiras/Shutterstock)

Few investors have made their mark on a region like SoftBank has in Latin America. The Japanese firm was involved in more than a third of LatAm VC deals by value since 2019 and amassed a stable of unicorns along the way.

But in 2022, SoftBank has pulled back as part of a wave of retreating investors. That has contributed to a sharp correction in VC funding for LatAm startups—one that risks erasing the significant gains made in last year's boom times.

Recommended Reads

As edtech companies stockpile sensitive information, one cyberattack illuminates the shaky state of student privacy. [The New York Times]

Indebted property developer Evergrande has been told to hand over $1.1 billion in yet another previously undisclosed financial obligation. [The Wall Street Journal]

How companies are trying to roll back hard-won gains made by gig workers. [Wired]

Since yesterday, the PitchBook Platform added:

32

VC valuations

1919

People

658

Companies

20

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2012 Vintage Global Real Estate Funds
	VC Deals
	Centurium Capital leads $200M investment in NTX
	OriCell secures $120M+
	Egypt's Homzmart bags $23M
	GluBio raises $22M
	Aurora lands $10M for clean hydrogen production
	Smarter Sorting scores $7M for brand sustainability
	Differentiated Therapeutics picks up $5M
	Fundraising
	Redpoint closes Fund IX on $650M
	Insignia Ventures wraps up $516M

The Daily Benchmark

2012 Vintage Global Real Estate Funds

Median IRR

11.40%

Top Quartile IRR

16.04%

1.45x

Median TVPI

Select top performers

ERS Texas Private Real Estate Emerging Manager Exeter

KTR Industrial Fund II

LEM Real Estate High Yield Debt Fund III

*IRR: net of fees

63 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Centurium Capital leads $200M investment in NTX

Centurium Capital has led a nearly $200 million investment in NTX, a global textile technology company. Existing shareholder NRL Capital made additional contributions.

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OriCell secures $120M+

OriCell Therapeutics has raised more than $120 million in a Series B led by Qiming Venture Partners and Quan Capital. Based in Shanghai, the company is developing drugs for tumor immunotherapy.

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Egypt's Homzmart bags $23M

Homzmart, the provider of an ecommerce platform for home goods, has raised $23 million from investors including Impact46, Outliers Ventures and Rise Capital, Reuters reported. The round brings the Cairo-based company's total funding to $40 million.

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GluBio raises $22M

Qiming Venture Partners has led a $22 million financing round for GluBio Therapeutics. Based in San Diego and Shanghai, GluBio develops targeted protein degradation drugs.

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Aurora lands $10M for clean hydrogen production

Aurora Hydrogen has raised a $10 million Series A led by Energy Innovation Capital. The Canadian company is developing scalable, emission-free hydrogen production technology.

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Smarter Sorting scores $7M for brand sustainability

Smarter Sorting, which helps brands increase sustainability by analyzing the chemicals and ingredients in consumer products, has raised $7 million from Regeneration.VC. The funding adds to the company's $25 million round led by G2 Venture Partners in March.

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Differentiated Therapeutics picks up $5M

Differentiated Therapeutics has raised $5 million in seed funding from Curie.Bio. The company uses molecular simulation to develop disease-modifying therapies.

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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

Redpoint closes Fund IX on $650M

Redpoint Ventures has closed its ninth early-stage vehicle on $650 million, TechCrunch reported. The fund will invest between $2 million and $15 million in seed through Series B rounds.

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View 402 investments »

Insignia Ventures wraps up $516M

Insignia Ventures Partners has raised $516 million, including $388 million for its third flagship fund. The firm, which targets early-stage tech investments in Southeast Asia, closed its IVPF Fund II on $200 million in 2019.

View details

View 6 investments »

Chart of the Day

Source: PitchBook's Q2 2022 Global M&A Report

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PitchBook News - Global markets bounce back

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