PitchBook News - Breaking down the metaverse

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

Log in

The Daily Pitch: VC

August 30, 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 analysts outline seven core principles of the metaverse and analyze opportunities and challenges in the nascent vertical.

VC deal sizes in Europe paced far above 2021's figures across all stages in the first six months of the year.

How Saudi Arabia's efforts to boost venture-backed startups in the region are paying off.

Today's Top Stories

What is the metaverse, exactly?

From executive pronouncements to headlines and convention centers, talk of the metaverse is everywhere, but what exactly is it? Our recent Emerging Tech Research vertical snapshot aims to answer that question by outlining seven core principles of the metaverse that illustrate how both advocates and skeptics differ in their conceptions of a more immersive digital future.

The report analyzes metaverse opportunities and challenges across the pillars of access, infrastructure and experience—dimensions that capture the core areas of disruption entrepreneurs and executives will have to face as they ponder the future of the internet. The report also spotlights VC activity, key players and acquisitions in the vertical, as it unpacks how VCs can hope to capitalize on the metaverse.

read the preview

Share:

European VC deal sizes defy downturn

(Victor Moussa/Shutterstock)

Despite investors becoming more cautious, European venture deal sizes are continuing to climb.

Angel, seed, early-stage and late-stage rounds are all pacing above 2021's figures, but increased pressure on the market could slow growth.

Recommended Reads

The US has the largest number of billionaires in the world, topping the list with 735. So who is the richest billionaire in every state? [Visual Capitalist]

Why tech executives are turning up the heat in employee performance reviews. [The Information]

Inside Eastman Kodak's private equity program, where lower middle markets reign supreme. [Institutional Investor]

Since yesterday, the PitchBook Platform added:

16

VC valuations

1698

People

483

Companies

29

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2013 Vintage European PE Funds
	People
	Garry Tan named next president of Y Combinator
	VC Deals
	Limit Break snags $200M
	StarTree raises $47M Series B
	Theranica banks $45M Series C
	RentSpree secures $17M+
	CellUranics raises new funds
	Fundraising
	Kli holds first close on Fund III

The Daily Benchmark

2013 Vintage European PE Funds

Median IRR

13.30%

Top Quartile IRR

19.26%

1.47x

Median TVPI

Select top performers

TDR Capital III

Vitruvian Investment Partnership II

Mandarin Capital Partners Fund II

*IRR: net of fees

21 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

People

Garry Tan named next president of Y Combinator

Initialized Capital founding partner Garry Tan is joining Y Combinator next year as its new president and CEO.

View details

VC Deals

Limit Break snags $200M

Limit Break has raised $200 million from Buckley Ventures, Standard Crypto and Paradigm Ventures. Founded in 2021, the company offers interactive Web3 gaming products.

View details

View 14 investments »

StarTree raises $47M Series B

StarTree has raised a $47 million round led by GGV Capital. The company is the developer of a cloud analytics platform designed to offer actionable insights in real time. Bain Capital Ventures, Sapphire Ventures and CRV also participated in the funding.

View round

View similar company »

Theranica banks $45M Series C

Theranica has raised $45 million in a round led by New Rhein Healthcare Investors. Based in Israel, the company is developing digital therapeutics for migraines and other pain conditions.

View round

View 11 competitors »

RentSpree secures $17M+

RentSpree, the operator of a rental listing platform, has raised a $17.3 million Series B led by Green Visor Capital.

View round

View 1 competitors »

CellUranics raises new funds

Asia Green Fund, a private equity firm, and Sequoia China have invested in CellUranics, a materials company aiming to help the plastics industry achieve carbon neutrality.

View round

View similar company »

Fundraising

Kli holds first close on Fund III

Kli Capital has raised about 90% of its $50 million target for the firm's third flagship fund, TechCrunch reported. The firm, which is transitioning from a family office to an institutional VC, primarily backs startups in Israel and the US.

View fund

View 69 investments »

Chart of the Day

"In Q2 2022, 28 early-stage mega-rounds were completed, exhibiting a 35% decrease from the prior quarter. Despite this, the early-stage mega-round activity is on par with 2019 and 2020, encouraging our confidence in the continued deployment of capital at this stage."

Source: Q2 2022 PitchBook-NVCA Venture Monitor

About PitchBook | Terms of use | Advertise with us | Contact

This email was sent to you via the PitchBook Platform.

Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here.

PitchBook News - Breaking down the metaverse

Older messages

VC looks ahead to brighter days

Re: Your Request for Data - PitchBook

The state of startup funding

VC's silver linings playbook

Foodtech funding wanes

You Might Also Like

🌱 Goodbye Triple Bottom

+22% increase in purchases

India answers Iran’s port of call

Garbage in... Garbage out...

FOD#52: OpenAI's new GPT-4o – what it can and cannot do

Exciting News: DS Renaissance Update!

Welcome to Springfield Ecom Academy!

Did Google just now target recent SEO successes?

⚡ It's Alive - And Kicking!

New research: How e-commerce marketers are actually using AI