1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - Forecasting a cloudy 2023 for VC

Agtech plows through turmoil; investors to stick with private debt in 2023; crypto startup Amber raises $300M
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Daily Pitch: VC
December 19, 2022
The Daily Pitch is powered by PitchBook’s industry-defining research and best-in-class data
Ads
In today's Daily Pitch, you'll find:
  • Our latest Emerging Tech Research explores agtech's resilience amid rough terrain.

  • PitchBook analysts predict another rocky year for VC in our 2023 US Venture Capital Outlook.

  • Chart of the day: VC deal value by country, from our DACH Private Capital Breakdown.
 
Today's Top Stories  
Down, down and down around
2022 has nearly come to an end. Many investors will be happy to turn the corner on a year that saw crypto ride a remarkable rollercoaster and had VC firms clutching their pearls. But it may not be over quite yet, according to PitchBook analysts.

Next year is shaping up to be an even more stress-inducing ride for investors, according to our 2023 US Venture Capital Outlook. But while our analysts predict some downward movement, there is of course always some upside—if you know where to look.
read it now
 
Share: Email LinkedIn Twitter Facebook
Agtech plows through turmoil
Extreme weather events, geopolitical turmoil, supply chain disruptions: There is no doubt that 2022 has been a crazy year. And the crazier it's gotten, the more apparent it has become that investors should be focusing on what really matters: food.

While macroeconomic factors have battered other sectors, they've buoyed agtech investment, making Q3 the vertical's third-strongest quarter on record for deal value. However, the sector isn't immune to other funding challenges.

Our latest Emerging Tech Research report unpacks VC activity in agtech, explores emerging opportunities in weeding robots and regenerative agriculture software, and spotlights innovative startups driving forward insect production and farmland investing.
read the preview
 
Share: Email LinkedIn Twitter Facebook
 
A message from Silicon Valley Bank  
SVB survey reveals fundraising expectations
SVB's data analysis and fund CFO survey indicate that despite a market slowdown, the private equity industry shows strong momentum. Dry powder levels remain near record highs, and investment levels are above pre-pandemic levels. On the fundraising side, 44% of surveyed fund CFOs expect fundraising to reach 2021 levels within 1 to 3 years.

In fact, downturns have historically brought great opportunity, with funds raised during recessions outperforming those of surrounding years.

Nevertheless, industry-specific challenges proliferate, such as persistently elevated valuations and the denominator effect. Fund managers and limited partners are grappling with these and other issues in an increasingly difficult environment.

Read our report every quarter to stay on top of private equity trends CFOs need to know.

Download the report
Share: Email LinkedIn Twitter Facebook
 
Private debt outlook 2023: Risk and opportunity co-exist
(kudla/Shutterstock)
While private debt deal flow and fundraising pace have slowed from last year's record highs, the industry still ended this year on solid footing. But 2023, which is expected to be a tumultuous year, will present the industry with a series of challenges.

Anticipating greater uncertainty in the economy and more rate hikes from the Federal Reserve, investors still view private debt as attractive. However, they will want more downside protections for their private credit investments in this environment.
read more
 
Share: Email LinkedIn Twitter Facebook
Energy, infrastructure star in Europe's top 10 PE buyouts in 2022
(Bullstar/Shutterstock)
With many parts of the European economy affected by rising inflation, assets that are more insulated to its effects have become sought after.

A look at the top PE buyouts this year shows that infrastructure assets, including those in renewable energy, are attractive to investors.
read more
 
Share: Email LinkedIn Twitter Facebook
Recommended Reads
Gener8tor is the biggest startup accelerator you've never heard of. [TechCrunch]

Will the US try to curb China's tech ambitions as the latter ramps up production of decade-old chip tech? [Reuters]

Bio-based plastics aim to capture carbon. But at what cost? [Wired]
 
Ads
Since yesterday, the PitchBook Platform added:
1
VC valuations
31
People
21
Companies
See what our data software can do
 
Quick Takes  
  The Daily Benchmark  
  2014 Vintage North American Real Estate Funds  
  VC Deals  
  Amber raises $300M for crypto trading  
  Virgio rakes in $37M Series A  
  Element Energy pockets $28M  
  Influencer marketing specialist Howl secures $27M  
  Big banks lead $24M round for Acin  
  Plenna raises $4.4M  
 
 
The Daily Benchmark  
2014 Vintage North American Real Estate Funds
Median IRR
13.60%
Top Quartile IRR
16.52%
1.50x
Median TVPI
Select top performers
Cortland Partners Fund I
L-A Saturn Acquisition
Exeter Industrial Value Fund III
*IRR: net of fees
42 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
 
VC Deals  
Amber raises $300M for crypto trading
Amber, a crypto trading platform, has closed a $300 million Series C led by Fenbushi Capital. The startup had been closing on an extension of its Series B when it decided to move forward on a Series C instead.
View round
 
View similar company »
 
Virgio rakes in $37M Series A
Fashion tech startup Virgio has raised a $37 million Series A led by Prosus Ventures, Accel and Alpha Wave, bringing the company's valuation to $161 million.
View round
 
View similar company »
 
Element Energy pockets $28M
Element Energy, a startup specializing in battery management and storage, has secured a $28 million Series B co-led by Cohort Ventures, with participation from investors including LG Technology Ventures and Prelude Ventures.
View round
 
View similar company »
 
Influencer marketing specialist Howl secures $27M
Howl, a startup focused on influencer advertising and marketing, has raised a $27 million Series A led by Highland Capital Partners, The Information reported. Founded in 2020, the startup counts Sephora and Samsung among its clients.
View round
 
View similar company »
 
Big banks lead $24M round for Acin
Acin, a startup that offers risk assessment and analysis software, has closed a $24 million Series B led by several high-profile banks, including JP Morgan, Citi Bank, BNP Paribas and Barclays. Notion Capital, Talis Capital and Fitch Ventures also participated.
View round
 
View 1 competitors »
 
Plenna raises $4.4M
Plenna, a Mexico City-based women's health startup, has raised $4.4 million in a seed round led by Urban Innovation Fund, with backing from firms including 500 Global, Canary and Bridge Latam.
View round
 
View similar company »
 
 
Chart of the Day  
"Given its size relative to Germany, Switzerland's VC activity has been strong in recent years. For example, VC deal value was approximately three times larger in Germany than Switzerland through Q3 2022, while Germany's GDP was €4.2 trillion in 2021, roughly five times bigger than Switzerland's €812.9 billion."

Source: PitchBook's 2022 DACH Private Capital Breakdown
 
Ads
 
Who's in the newsletter today?
Investors
500 Global
Alpha Wave
Bridge Latam
Canary
Cohort Ventures
Fenbushi Capital
Fitch Ventures
Highland Capital Partners
LG Technology Ventures
Notion Capital
Prelude Ventures
Prosus Ventures
Talis Capital
Urban Innovation Fund
Companies
Accel
Acin
Amber
BNP Paribas
Barclays
Citi Bank
Element Energy
Howl
JP Morgan
Plenna
Samsung
Sephora
Virgio
 
About PitchBook | Terms of use | Advertise with us | Contact
Follow us: in twtr fb

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.

© 2022 PitchBook. Win what's next. All rights reserved.

Older messages

Fusion fantasy, solar substance

Sunday, December 18, 2022

Plus: Clean energy defies market turbulence, checking in on unicorns, VCs tackle impact investing & more Read online | Don't want to receive these emails? Manage your subscription. Log in The

Pensions size up allocations

Friday, December 16, 2022

LBOs test buyout market; Europe's take-private slowdown; Europe's strategy on Russian gas; Zappi nabs $170M Read online | Don't want to receive these emails? Manage your subscription. Log

Ready to take a closer look at PitchBook?

Friday, December 16, 2022

PitchBook is a financial technology company that provides the most comprehensive data on the private and public markets. PitchBook See what you can do with PitchBook PitchBook is a financial technology

Visualizing the unicorn slowdown

Friday, December 16, 2022

Middle market could take PE spotlight; Nerdio nets $117M Series B; USVP closes $400M fund; Microsoft inks $190M Fungible deal Read online | Don't want to receive these emails? Manage your

Real assets funds power through

Tuesday, December 13, 2022

Startup whiplash hits some VC sectors; Europe keeps its allure for foreign VCs; NotCo nabs $70M for plant-based food; MessageGears grabs $62M Read online | Don't want to receive these emails?

You Might Also Like

A 300% increase in sales??

Saturday, January 11, 2025

Seats are going fast! Don't miss out! View in browser ClickBank Logo -- BREAKING NEWS -- One-on-one coaching is now available in February! This is your chance to work directly with one of the best

Easy to understand tutorials via email

Saturday, January 11, 2025

I love that you're part of my network. Let's make 2025 epic!! I appreciate you :) Today's hack Easy to understand tutorials via email Text is boring. Create a short video tutorial, upload

Agency advice when you need it

Saturday, January 11, 2025

Hi there , Running an agency means needing different advice at different times. Sometimes you just need quick feedback from someone who gets it. Which is why I'm building a place for agency owner..

The Ultimate Personal Branding Playbook Drops January 17th

Friday, January 10, 2025

Let's face it—getting noticed in today's market isn't what it used to be... ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

How This Weird Site Makes $88/month!

Friday, January 10, 2025

Each week on the Niche Pursuits podcast, we share a couple of weird niche sites. And every once in a while, these sites are making a SIGNIFICANT amount of money. I recently found a WEIRD website making

♦️ How saying no to (some) customers increases your chances of winning big

Friday, January 10, 2025

How Autodesk became a $60 billion company by staying specific... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Tripling your organic LinkedIn content visibility

Friday, January 10, 2025

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by social-media-marketing-world-logo It's National Thank Your Customers Week, so thank you Reader! We're

The Single Most Important Thing For Bitcoin Right Now

Friday, January 10, 2025

Listen now (4 mins) | To investors, ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Influence Weekly #371 - How The Military Recruitment Crisis Pushed The Pentagon To Fund MrBeast, TV Stars In A Bid To Woo Gen Z

Friday, January 10, 2025

PayPal Sued Over Browser Extension Allegedly Diverting Creator's Commission ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Weekly Dose of Optimism #126

Friday, January 10, 2025

Sana Biotechnology, Memory Processes, METAGENE-1, McDermitt Caldera, More Speech, Enron Egg, Telepathy Tapes x Jesse Michels ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏