PitchBook News - Foreign exchange markets' wild ride

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The Daily Pitch: VC

October 4, 2022

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

Private markets are worth more than typical metrics indicate—and they're growing more quickly than public markets.

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

A look at diversity efforts in the alternative asset management industry.

Today's Top Stories

Swings in foreign exchange markets round out a volatile Q3

Global markets continue to see headwinds, as inflation-fighting central banks deal with volatility and contradictory fiscal policy, leading to a bumpy ride for foreign exchange markets. Investors looking for stability are struggling to find havens. Global bond indexes sold off along with equities and commodities during September. Entering Q4, recession fears have tightened their grip on markets, placing central bank reactions to the current environment at top of mind.

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, fundraising, IPO performance, lending volumes and unicorn creation. In this monthly digest, we provide the datasets that PitchBook's Institutional Research team is keeping an eye on as markets remain volatile.

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Private markets are bigger than you think—and gaining ground on public equities

(Thampapon/Shutterstock)

It's no secret that private markets are growing. But just how big are they?

PitchBook analysts have estimated the total market capitalization of companies backed by private equity and venture capital, allowing for an apples-to-apples comparison to public companies. The findings show that private markets are larger than typical metrics indicate, which has implications for how they will be scrutinized and regulated.

Recommended Reads

Byju's rode a wave of investor enthusiasm to a $22 billion valuation. But unclear accounting practices and ballooning losses are clouding the company's future. [Financial Times]

Kim Kardashian is the latest celebrity to face punishment from the SEC for flouting investor-protection laws. [The Wall Street Journal]

An inside look at Melinda French Gates' plan to invest $1 billion into women in the US. [Fortune]

Since yesterday, the PitchBook Platform added:

13

VC valuations

1396

People

346

Companies

21

Funds

See what our data software can do

Quick Takes

	The Daily Benchmark
	2015 Vintage Global Funds-of-Funds
	VC Deals
	SingleStore brings in $146M
	Tally banks $80M Series D
	Liquid Death gobbles up $70M
	EV charging company Loop Global raises $60M
	Golden secures $40M
	Polco picks up $14M
	Exponential nabs $14M seed round

The Daily Benchmark

2015 Vintage Global Funds-of-Funds

Median IRR

24.55%

Top Quartile IRR

31.09%

2.03x

Median TVPI

Select top performers

Industry Ventures Partnership Holdings III-C

TrueBridge-Kauffman Fellows Endowment Fund IV

Peakview Capital Fund I

*IRR: net of fees

59 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

SingleStore brings in $146M

SingleStore has raised $146 million in a Series F2 led by Goldman Sachs. The company offers a could-based database designed to help businesses unify and manage transactions and workload analytics.

View round

View 67 competitors »

Tally banks $80M Series D

Tally has raised $80 million in a round led by Sway Ventures, with support from Kleiner Perkins and Andreessen Horowitz. Based in the Bay Area, the company offers automated credit card debt payment services.

View round

View 51 competitors »

Liquid Death gobbles up $70M

Liquid Death, a producer of canned mountain water, has raised $70 million at a $700 million valuation in a round led by startup studio Science Ventures, Bloomberg reported.

View round

View 5 competitors »

EV charging company Loop Global raises $60M

Loop Global, a provider of electric vehicle infrastructure for property owners, has raised $60 million in a round co-led by Fifth Wall Climate and Agility Ventures.

View round

View similar company »

Golden secures $40M

Golden has raised a $40 million Series B led by Andreessen Horowitz. The company is a developer of a crypto platform designed to build a decentralized protocol with Web3 tools.

View details

View 873 investments »

Polco picks up $14M

Polco has raised $14 million in a round led by Mercury Fund, with support from BAT Ventures and Royal Street Ventures. The company is the developer of a data-driven platform designed to help local governments measure and track performance.

View round

View similar company »

Exponential nabs $14M seed round

Exponential has raised $14 million in a round led by Paradigm. The company's blockchain-based platform is designed to help users invest in DeFi products.

View round

View similar company »

Don't miss our upcoming webinar

With US midterm elections and potential policy shakeups on the horizon, investors must prepare for possible regulatory changes and their impact on industries such as fintech.

Join Washington, DC, policy analysts John Sonsalla and Ryan Schoen as they share their expected policy outcomes for 2022 and how these may affect credit, partnerships between banks and fintech, crypto and more in the years to come. This discussion will also explore how the Consumer Financial Protection Bureau and the 2024 presidential race may shape the fintech regulatory environment moving forward.

Register now to secure your spot.

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Source: PitchBook's H1 2022 Global Real Estate Report

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PitchBook News - Foreign exchange markets' wild ride

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