PitchBook News - Fintech faces tough choices

The battle for grid-scale batteries; public investors shy away from indoor farming; Q&A: Family offices in the private markets
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Daily Pitch: VC
January 9, 2023
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:
 
Today's Top Stories  
Some newly public fintech companies face tough choices in 2023
The new year didn't ring in any relief for fintech investors. Since the S&P 500 bottomed out in October, newly public fintech companies have continued to watch their stocks drop, despite some momentum returning to the market. Will these startups be forced to sell, or can they get creative with their fundraising?

Our Q4 2022 Fintech Public Company Valuation Guide tracks stock performance, revenue, EBITDA, and earnings-per-share forecasts as well as market caps of key publicly traded companies. It also includes new data on ESG, valuations of private fintech companies and a number of new charts.

To discuss fintech valuations, contact james.ulan@pitchbook.com and rudy.yang@pitchbook.com.
read it now
 
Share: Email LinkedIn Twitter Facebook
Sprouting Q4 revenue did not woo public investors to indoor farming
Despite strong revenue growth, indoor farming companies didn't have such luck with their stock performance in Q4 2022, as many investors bet against their ability to survive further profit declines. Meanwhile, commodity prices settled down slightly after surging earlier in the year, yet remained historically high.

So, how did public agtech companies round out the year amid such uncertain conditions?

Check out our Agtech Public Company Valuation Guide to see the latest data on stock performance, revenue forecasts and market caps of key publicly traded companies across sectors including precision agriculture, animal agriculture and plant biotech.

To discuss agtech valuations, contact alex.frederick@pitchbook.com.
read it now
 
Share: Email LinkedIn Twitter Facebook
Go with the (redox) flow
In the battle for grid-scale battery dominance, who will emerge victorious? Lithium-ion has proven to be far from perfect, but the alternatives—such as redox flow to metal air—also have their lists of pros and cons with much to prove. With the first winter since Russia's invasion of Ukraine approaching and threatening Europe's energy security, the interest and investment in new energy technologies have never been higher.  

In our latest analyst note, PitchBook analyst John MacDonagh dives into the figures, trends, and emerging technologies on the rise. He lays out these alternatives—and the big players that VCs are betting on.
read it now
 
Share: Email LinkedIn Twitter Facebook
Q&A: The draw of private markets for family offices
(dgmata/Shutterstock)
Family offices have been increasing their allocations to private markets in recent years due to meager returns in public markets.

We spoke to Antonio Curia, the executive director at Wimmer Financial, a London-based family office advisory, about how family offices are increasing their alternatives exposure.
read more
 
Share: Email LinkedIn Twitter Facebook
Recommended Reads
Companies got an edge from their PE owners during the pandemic, adding to the evidence that PE can help firms survive downturns. [Institutional Investor]

Algorithms are increasingly making decisions in the workplace. Here's how to curb the potential harms and abuses.  [Wired]

A decade of streaming has transformed storytelling and TV viewing habits. But we may be starting to hit that transformation's limits. [The New York Times]
 
Since yesterday, the PitchBook Platform added:
1
VC valuations
151
People
52
Companies
See what our data software can do
 
Quick Takes  
  The Daily Benchmark  
  2019 Vintage Global Funds-of-Funds  
  VC Deals  
  KreditBee nears $700M valuation  
  Metagenomi extends Series B to $275M  
  Biotech startup HighTide raises $107M  
  Synthekine grabs $100M  
  Immune-Onc Therapeutics nabs $25M extension  
  Doorstead locks in $21.5M for property management  
 
 
The Daily Benchmark  
2019 Vintage Global Funds-of-Funds
Median IRR
28.77%
Top Quartile IRR
37.15%
1.40x
Median TVPI
Select top performers
TrueBridge Capital Partners Fund VI
Blockchain Coinvestors Fund I
Adams Street 2019 Global Fund
*IRR: net of fees
35 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
 
VC Deals  
KreditBee nears $700M valuation
Indian fintech startup KreditBee has closed a $200 million Series D led by Advent International, according to reports. The latest round brings the company's valuation to roughly $680 million. KreditBee offers micro-loans and credits to customers.
View round
 
View 49 competitors »
 
Metagenomi extends Series B to $275M
Genetic medicine startup Metagenomi has raised a $100 million extension round, bringing its Series B total to $275 million. The extension was co-led by Catalio Capital Management, Symbiosis, and Novo Holdings, the investment arm of pharmaceutical giant Novo Nordisk.
View round
 
View 4 competitors »
 
Biotech startup HighTide raises $107M
HighTide, a specialist in drug therapies for metabolic and digestive diseases, has raised a $107 million Series C led by TCM Healthcare Fund of Guangdong, which is managed by China Development Bank Capital.
View round
 
View similar company »
 
Synthekine grabs $100M
The Column Group has led a $100 million Series C into biotech startup Synthekine, which offers cell protein therapeutics. The company currently has one product in clinical trials.
View round
 
View 2 competitors »
 
Immune-Onc Therapeutics nabs $25M extension
Immunotherapy startup Immune-Onc Therapeutics has closed a $25 million extension round led by Triwise Capital. The extension brings the Series B total to $131 million. The startup is developing bone marrow checkpoint inhibitors for cancer patients.
Doorstead locks in $21.5M for property management
Doorstead has closed a $21.5 million Series B with participation by Avanta Ventures, MetaProp, M13 and Madrona. The proptech startup guarantees rent to landlords and lists properties online.
View round
 
View similar company »
 
 
PitchBook Webinar: 2023 Private Equity Outlook
Join us in examining PitchBook's recent analyst note: 2023 Private Equity Outlook. The discussion will cover the new era of buyouts, along with fundraising trends that are helpful for navigating a challenging environment. Key topics include:
  • PE dealmaking pace remains muted, but new opportunities arise during market volatility.

  • Exploring developments in the stunted exit market.

  • Fundraising trends: Who will be the winners in the increased competition for capital?
Register to secure your spot.
Share: Email LinkedIn Twitter Facebook
 
Chart of the Day  
"Regionally speaking, fundraising in Asia has continued its steep downward trend of the last four years ... Much of this decline is attributed to the slow fundraising activity in China, as government pressures and policies such as zero-COVID hamper the economy and business activity."

Source: PitchBook's Q3 2022 Global Private Market Fundraising Report
 
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.

© 2023 PitchBook. Win what's next. All rights reserved.

Older messages

When VC goes overboard

Sunday, January 8, 2023

Plus: A tale of two trends for VC, the next tech supercycle, global markets battle the storm & more Read online | Don't want to receive these emails? Manage your subscription. Log in The

2022 VC data is here

Saturday, January 7, 2023

Also: Who will win the battle for grid-scale battery dominance?; Most markets ended December on a down note; Join live discussions on our '23 outlooks Read online | Don't want to receive these

VC's tale of diverging trends

Friday, January 6, 2023

Tricks of the carbon offsets trade; lidar specialist pulls in $51M+; Perspectum pockets $36M for medical imaging; SarvaGram snags $35M Read online | Don't want to receive these emails? Manage your

Cross-border M&A market hangs tough

Thursday, January 5, 2023

Gazing into tech's crystal ball; Round Hill scores deal with U2 producer; Microsoft, OpenAI to team up against Google; Nexus Ventures eyes $700M fund Read online | Don't want to receive these

Global markets brave the storm

Wednesday, January 4, 2023

Newly public stocks slide into 2023; SpaceX eyes $137B valuation; VC predictions for Europe, Middle East, Africa; Money View sees $900M valuation Read online | Don't want to receive these emails?

Interested in learning paid traffic? 👀

Friday, January 27, 2023

A start-to-finish method on earning affiliate commissions with FaceBook ads Spark If you have ever had any interest in paid traffic... We have just the course for you! Generating Traffic with Facebook

When dry powder stays dry

Friday, January 27, 2023

Europe's movers and shakers of 2022; Stripe plots IPO, stock sale; Senken bags $7M+ for carbon offsets platform Read online | Don't want to receive these emails? Manage your subscription. Log

Scrollbar None

Friday, January 27, 2023

The ups and downs of scrollbar design. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

"Notes" of An Elder

Friday, January 27, 2023

Don't take life too seriously. Nobody gets out alive. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Weekend Edition #82

Friday, January 27, 2023

BetMGM update, LVS analyst reaction, Houlihan Lokey's digital outlook, Caesars analyst takes, sector watch +More ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Inner Struggle Of Labeling Ourselves

Friday, January 27, 2023

How do you call yourself? Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog The Inner Struggle Of Labeling Ourselves By Danilo Kreimer – 27 Jan 2023 – View online →

UK car industry hits seven decade low

Friday, January 27, 2023

US economy holds strong ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Get your ClickBank questions answered in real time!

Friday, January 27, 2023

Get help from REAL people. Spark Connect with other affiliates who are already finding success! Plus get access to REAL ClickBank employees for hands on mentorship and your questions answered in real

3 alternatives to drained channels

Friday, January 27, 2023

Today's hack When all your paid channels get drained, check out these 3 alternatives... When you have a good revenue-generating product and a budget to accelerate your growth but all paid channels

🔍 The Madhappy Playbook To Become The New Supreme

Friday, January 27, 2023

In three steps. View in browser Starbucks has more than 1 billion in revenue sitting in unused gift cards (article link at the end). By not using up the gift cards, apparently the norm, consumers are