PitchBook News - Revisiting 2022 predictions for Europe

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The Daily Pitch: VC

August 12, 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:

Venture capital deal activity in European pet tech has settled down after a surge in investment fueled by the pandemic.

Our recent Emerging Tech Research update on fintech breaks down the sector's dip in VC funding, emerging opportunities in alternative financing and more.

Today's Top Stories

Assessing PitchBook's 2022 predictions for Europe's private markets

At the end of last year, few could have anticipated how different the landscape would look for private markets in 2022.

Macroeconomic headwinds, including rising inflation and public market volatility, have created a more pressurized environment for both private equity and venture capital in Europe, one that is in stark contrast to the heady days of 2021. Now, midway through the year, our analysts revisit their December predictions in our 2022 European Private Capital Outlook: H1 Follow-Up.

Our 2022 predictions that we revisit include:

Global carveout deal value will hit a new high of €200 billion in 2022.

European VC deal value will hit a record €175 billion in 2022.

VC-backed public listings will decline in value and count from 2021 highs.

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VC interest in European pet tech ebbs

(Tatyana Aksenova/Shutterstock)

When the pandemic hit, pet adoption in Europe increased significantly, and with it, VC investments in pet tech startups.

With a new economic downturn, investors are pulling back on the amount spent in the space.

Recommended Reads

Although hydrogen stocks have been through a few false dawns over the decades, the industry is now gaining momentum as the war in Ukraine has left hydrogen a cheaper alternative to natural gas in Europe. [The Wall Street Journal]

One writer's thoughts on why companies are struggling to adjust as consumers go cold on goods. [Financial Times]

The underground excavation industry is exploring everything from mini robots to plasma torches and superheated gas to replace the massive boring machines now in use. [Wired]

Since yesterday, the PitchBook Platform added:

22

VC valuations

1676

People

499

Companies

26

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2017 Vintage Global Debt Funds
	VC Deals
	Selena Gomez's Wondermind valued at $100M
	Superblocks secures $37M
	Finix rakes in $30M
	Medical simulation specialist FundamentalVR picks up $20M
	Jiminny bags $16.5M
	Farther books $15M for data-driven wealth management
	Abridge wraps up $12.5M
	Animation studio Invisible Universe scores $12M
	Satellite IM brings in $10.5M for decentralized communication
	Toronto's Interaxon raises $9.5M

The Daily Benchmark

2017 Vintage Global Debt Funds

Median IRR

10.05%

Top Quartile IRR

13.54%

1.19x

Median TVPI

Select top performers

400 Capital Asset Based Term Fund I

Glendon Opportunities Fund II

Inveready Convertible Finance I

*IRR: net of fees

80 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Selena Gomez's Wondermind valued at $100M

Wondermind, a mental health startup co-founded by Selena Gomez, has raised a $5 million Series A at a $100 million valuation. Serena Ventures led the round, with participation from Lightspeed and Sequoia, Bloomberg reported.

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Superblocks secures $37M

Superblocks has raised $37 million in a round co-led by Kleiner Perkins, Greenoaks, Spark Capital and Meritech. The company offers an internal tool-building platform for developers.

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Finix rakes in $30M

Finix has raised $30 million from investors including Insight Partners, Bain Capital Ventures and Lightspeed. The company's technology enables software platforms to process payments.

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Medical simulation specialist FundamentalVR picks up $20M

London-based FundamentalVR has raised $20 million in a round led by EQT Life Sciences, TechCrunch reported. The startup's platform uses VR and mixed reality technology to provide simulations for medical professionals.

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View 9 competitors »

Jiminny bags $16.5M

Kennet Partners has led a $16.5 million Series A in London-based Jiminny. The startup's platform allows sales teams to record and analyze customer conversations in real time.

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Farther books $15M for data-driven wealth management

Farther has raised a $15 million Series A at a $50 million valuation, TechCrunch reported. The round was led by Bessemer Venture Partners. The company offers a wealth management platform for high net worth individuals.

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View 1 competitors »

Abridge wraps up $12.5M

Abridge, a developer of AI-driven tech used to structure and summarize information from medical conversations, has raised a $12.5M Series A1 led by Wittington Ventures.

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View 1 competitors »

Animation studio Invisible Universe scores $12M

Invisible Universe has raised $12 million in a Series A led by Seven Seven Six. The animation studio partners with celebrities to develop animated character franchises for social media and Web3 platforms.

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View similar company »

Satellite IM brings in $10.5M for decentralized communication

Satellite IM, the provider of a decentralized peer-to-peer voice, video and text communication platform, has secured $10.5 million in a seed round led by Multicoin Venture Fund and Framework Ventures.

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View similar company »

Toronto's Interaxon raises $9.5M

Interaxon has secured a $9.5 million Series C led by BDC Capital, Alabaster and Export Development Canada. Based in Toronto, the neurotechnology company is the developer of an EEG-powered headband that provides users with insights into brain health and wellness.

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View 12 competitors »

Chart of the Day

"In the context of the declines experienced by other asset classes, the incremental increases in performance in late 2021 supported the perception that real assets hedge against inflation. However, these aggregated performance metrics mask vastly different outcomes among sectors."

Source: PitchBook's 2022 Global Fund Performance Report (as of Q4 2021 with Preliminary Q1 2022 Data)

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PitchBook News - Revisiting 2022 predictions for Europe

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