PitchBook News - Regenerative agriculture gains ground

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The Daily Pitch: VC

September 22, 2022

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In today's Daily Pitch, you'll find:

Emerging Tech Research explores how VC-backed regenerative agriculture is gaining traction.

A detailed look at venture capital trends in the Middle East and North Africa region.

For the first time on record, the riskiest segment of the US leveraged loan market accounts for the largest share of the asset class.

Today's Top Stories

VC cultivates regenerative agriculture

Regenerative agriculture is gaining ground with global food companies and governments, spurring investment in related technologies. In the US, the recently passed Inflation Reduction Act includes commitments for these sustainable farming practices—meant to restore land, conserve natural resources and mitigate climate change.

Against this backdrop, global agtech startups brought in $2.5 billion in venture funding in Q2 2022, a quarter-over-quarter decline of more than 23%, with indoor farming and ag biotech specialists gleaning the most investor attention.

Our latest Emerging Tech Research update digs deeper into the data and also explores emerging opportunities in agtech:

RNA and synthetic biology companies are developing alternative fertilizers and pesticides.

Feed additive startups aim to reduce greenhouse gas emissions from livestock.

read the preview

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Mapping MENA's VC ecosystem

(KhaledSaad001/Shutterstock)

Venture investments in the Middle East and North Africa region are on track to reach last year's record figures as the region continues to mature.

Take a closer look at how MENA's VC ecosystem has developed over the past decade.

see the data

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A message from CohnReznick

Embracing changes in consumer behavior

The consumer sector is facing an inflection point. The past two years ushered in new challenges to maintaining margins and customer loyalty, and consumer brands need to offer quality products and services to counteract inflationary pressures and consumer uncertainty. Private equity firms are paying close attention to the brands that can succeed in this market. Investors are focusing on detailed consumer data that sheds light on these shifting consumption patterns.

In conjunction with PitchBook, CohnReznick has released Consumer Sector Investment Report: Capital Flows to Those Who Expand Margins and Embrace Changes in Consumer Behavior.

To download the report and learn more, click here.

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Riskiest segment of leveraged loans is now the largest

(R Mendoza/Shutterstock)

Years of historically low interest rates have sent investors to risky loans in search of yield.

Now, companies issuing B-minus rated loans—the lowest rating typically floated—account for the largest share of issuers in the $1.425 trillion leveraged loan asset class. That has never happened in the 25-year history of the Morningstar LSTA US Leveraged Loan Index.

The flight to low-quality debt is likely to impact the largest investors in institutional loans due to the limits they place on exposure to risky assets.

Recommended Reads

Could high interest rates, dampened growth and the public's shifting views on Big Tech mean the end of Silicon Valley's golden age? [The Guardian]

Are private equity's giants having cash flow problems? [Bloomberg]

As the tech workforce just keeps growing, here's a look at the biggest tech talent hubs in the US and Canada. [Visual Capitalist]

Since yesterday, the PitchBook Platform added:

25

VC valuations

1591

People

482

Companies

28

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2016 Vintage Global PE Funds with more than $1B
	VC Deals
	Pie Insurance grabs $315M Series D
	MicroTransponder picks up $73M
	Knoetic raises $36M
	Messari banks $35M to provide crypto intelligence
	Luggage designer Monos nabs $30M
	Zartico brings in $20M
	Noble emerges from stealth with $18M

The Daily Benchmark

2016 Vintage Global PE Funds with more than $1B

Median IRR

22.80%

Top Quartile IRR

26.67%

1.77x

Median TVPI

Select top performers

Summit Partners Growth Equity Fund IX

TA XII

Parthenon Investors V

*IRR: net of fees

48 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Pie Insurance grabs $315M Series D

Pie Insurance has raised $315 million in a round led by Centerbridge Partners and Allianz X. Based in Washington DC, the company provides workers' compensation insurance to small businesses.

View round

View 3 competitors »

MicroTransponder picks up $73M

MicroTransponder has raised a $73 million Series E led by US Venture Partners. Based in Austin, the company develops nerve stimulation technology to improve limb function for stroke survivors.

View round

View 37 competitors »

Knoetic raises $36M

Knoetic has raised a $36 million Series B led by EQT Ventures. The New York-based company develops HR analytics software to help employers with retention and performance tracking. Menlo Ventures and Accel also participated in the funding.

View round

View 2 competitors »

Messari banks $35M to provide crypto intelligence

Messari has raised a $35 million Series B led by Brevan Howard Digital. The New York-based company provides market intelligence products and research reports on the cryptocurrency market.

View round

View 4 competitors »

Luggage designer Monos nabs $30M

Monos has raised $30 million Series B, led by Venn Growth Partners. The travel and lifestyle brand makes suitcases, bags and accessories.

View round

View similar company »

Zartico brings in $20M

Arthur Ventures has led a $20 million Series A for Zartico, the developer of a data intelligence and analytics platform for the tourism industry.

View round

View similar company »

Noble emerges from stealth with $18M

Noble has raised an $18 million Series A led by Insight Partners. Based in Tel Aviv, Noble helps companies build and manage credit-based products such as credit cards, cash advances and loans.

View round

View similar company »

Chart of the Day

"Software VC valuations and deal sizes set a strong pace in H1 2022 considering the challenges facing tech stocks. The median late-stage software pre-money valuation paced at €28.4 million in H1 2022, up from €21.0 million in 2021."

Source: PitchBook's Q2 2022 European VC Valuations Report

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PitchBook News - Regenerative agriculture gains ground

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