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Putting VC back together again, with charts
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There's a lot to digest when it comes to the state of venture capital. It's hard to know the trends and how big the gains and slumps are—simply put, understanding the data, let alone visualizing it, is a task unto itself.
Our latest Quantitative Perspectives report breaks it all down, visualizing historical information and trends to help you make sense of the direction of VC. Key takeaways include:
- Valuation multiples, a strong indicator of how many companies will go public, are at their lowest level since 2016, though rising valuations will signal a change in the environment.
- Mature startups are seeing headwinds as nontraditional investors edge toward early-stage investments or move away from VC entirely.
- The VC dealmaking environment has become markedly more investor friendly as more startups become capital starved.
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SVB Financial's path forward, explained
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| (DCStockPhotography/Shutterstock) |
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FDIC and a group of SVB Financial Group-appointed board members are tasked with picking up the pieces in the wake of the firm's collapse.
Many details remain unresolved. The FDIC hasn't said much about its auction process, the second round of which is expected to wrap up today. SVB Financial was made up of four units, and their fates currently look much different.
Here's a rundown of what's ahead for the failed bank and its affiliates. |
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PitchBook's 2023 Media Kit released
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With uncertainty across the private and public markets likely to continue, strong and insightful thought leadership is critical to your clients and prospects.
By partnering with PitchBook Media, you will have daily opportunities to reach 1.5M+ industry professionals in our newsletter, and you can broaden exposure of your brand through our core industry reports. We also help clients create custom research to share data-driven insights on the market.
Our brand-new 2023 Media Kit contains all the details to help your firm position itself in front of a VC or PE audience.
Click here to download it today or to speak to someone on the media team. |
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SVB asset sale overview: 'Largest footprint in tech ecosystem'
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| (Potashev Aleksandr/Shutterstock) |
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The processes around SVB's asset sales are fluid and continue to take shape. The assets span commercial banking, lines of credit, private debt, venture capital, investment banking and research.
Owning a piece of these assets would give a buyer lucrative access to SVB's deep roots in Silicon Valley, along with options for expanding an existing lending business and offering clients more help addressing their liquidity needs. |
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Regenerative agriculture is the new 'organic'
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Extreme weather and the Russian invasion of Ukraine captured the world's attention in 2022, and agtech investors were no exception. Although total VC deals dipped to $10.6 billion—compared with $12.3 billion in 2021—investors anticipate a coming bloom of entrepreneurship and investor capital to tackle global food insecurity and climate change.
Our 2022 Agtech Overview dives into the innovative tech solutions and investment opportunities that could change the game, from custom plant biotech to aquaculture and weeding robots. Key takeaways include:
- Late-stage and venture-growth investments generated the most traction in 2022 agtech numbers, capturing 74.2% of total VC funding and bucking industry-wide trends.
- Still, exit activity in agtech was expectedly sluggish, plummeting from $31.6 billion in 2021 to just $2.2 billion in 2022.
- Ag biotech and indoor farming led the field, with vertical farm Plenty notching the biggest deal close of the year, a $400 million Series E.
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FTX inner circle received $3.2B in company funds
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| (Michael M. Santiago/Getty Images) |
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Collapsed crypto exchange FTX's new management has identified $3.2 billion in payments and loans to former executives’ personal accounts.
Founder Sam Bankman-Fried is said to have received $2.2 billion in funds and is now awaiting trial on charges of fraud. |
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European private market conferences shed light on shrinking valuations, shifting market
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Shrinking venture valuations, shifting private equity dynamics and muted exit markets were among the key topics highlighted at European private market conferences in Q1. Attendees at the IPEM and SECA conferences, both of which were partnered with PitchBook, discussed the challenges and opportunities in Europe's private markets.
Our latest analyst note provides a recap of the main takeaways from both conferences. Highlights include:
- Smaller capital bases and less-attractive public markets put European VC at a disadvantage compared with the US.
- Energy is a key focal point for private market investors in 2023.
- PE firms prioritize add-ons while awaiting a more attractive exit market.
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A viral TikTok showed how to hijack certain Kia and Hyundai models. Hundreds of thousands of cars have been stolen. [Insider]
Why is the CIA at South by Southwest? [Texas Monthly]
Has Emmanuel Macron doomed France's government by pushing through his pension reforms? [The Economist] |
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Since yesterday, the PitchBook Platform added:
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50
VC valuations
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2521
People
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661
Companies
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23
Funds
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The Daily Benchmark:
2016 Vintage North American Debt Funds
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| Investment manager ACE & Company has hired former Uber executive Steve Salom as a partner and co-head of its venture arm. Salom will be responsible for launching the firm’s €150 million ACE Swiss Tech Outliers fund. |
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Parker, a New York-based fintech specialist, has secured $157 million in funding through a $31.1 million Series A led by Valar Ventures, combined with a venture debt facility co-led by Triple Point Capital and Jefferies.
Nimble, a San Francisco-based AI robotics specialist, has raised a $65 million Series B led by Cedar Pine, with participation from GSR Ventures and DNS Capital.
Fire1, an Irish developer of remote monitoring devices for patients with heart failure, has raised a $25 million extension round. The deal was co-led by Andera Partners and Novo Holdings.
Bright Pixel has led a $20 million Series B in London-based Seldon. The startup offers a machine learning operations platform.
QuadSAT, a Danish developer of antenna-testing drones, has secured €9 million in a round led by IQ Capital.
Deeploi, which offers an IT-as-a-service platform, has raised €3 million in a round led by Cherry Ventures, TechCrunch reported.
Allermi, a San Francisco-based telehealth allergy treatment specialist, has raised $3.5 million in seed funding led by Nelstone Ventures.
Eventum Orthopaedics, a UK-based maker of a knee surgery device, has raised £2.5 million from Mercia Equity Finance, part of Northern Powerhouse Investment Fund. |
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Don't miss our upcoming webinar
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Join us for a webinar examining how developments in the venture capital landscape could shape the year ahead. PitchBook analysts will explore emerging long-term opportunities and risks associated with varying outcomes in the macroeconomic environment. Key topics include:
- Tough financial market conditions have caused our estimate for the IPO backlog to soar to record levels. Our analysis of public comps suggests the window is still closed for most unicorns.
- A record $42.8 billion of unmet demand for new capital could result in further layoffs and structured financing to extend runways.
- Our VC Dealmaking Indicator suggests a much more investor-friendly environment this year compared to 2022. We explore what that means for company valuations and VC returns.
Register now to secure your spot. |
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A newly established Canadian PE firm, Ethical Capital Partners, has acquired MindGeek, which owns Pornhub as well as several other adult websites.
CVC has acquired a $155 million minority stake in Indonesia Stock Exchange-listed Samator Indo Gas, an industrial gas producer backed by the Harsono family, which owns a 28.44% stake.
Goldman Sachs has inked a $150 million funding facility for Saudi Arabia-based buy now, pay later company Tamara. Tamara closed a $100 million funding round in August led by Sanabil Investments.
OceanSound Partners-backed RMA Companies has acquired A. J. Edmond Company, a sampling and analytical testing provider for the petrochemical industry.
IK Partners has agreed to invest in Veldeman Group, a Belgian designer and producer of temporary infrastructures, via its IK Small Cap III fund. The management will reinvest alongside IK.
Philippines-based telecom and digital services provider PLDT is nearing a deal to sell a portfolio of over 1,000 telecom towers to KKR-backed Frontier Towers for more than $200 million, Bloomberg reported. |
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Swen Capital Partners, a French private equity firm, has raised €170 million for its Blue Ocean Fund, which invests in companies that work on ocean sustainability, Axios reported.
Indonesia's sovereign wealth fund, the Indonesian Investment Authority, is eyeing investments of $1 billion for 2023 in energy, healthcare, digital technology and infrastructure, DealStreetAsia reported. |
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| Tiger Global has marked down the value of its investments in its venture portfolio by roughly 33%, amounting to about $23 billion in holdings, The Wall Street Journal reported. |
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