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Plus: VC's post-SVB future, visualizing the state of VC, checking up on private debt & more
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The Weekend Pitch
March 19, 2023
Presented by Plante Moran
(Jenna O'Malley/PitchBook News)
The bankruptcy filing by SVB's parent company concludes the first chapter of the failed bank's collapse.

But even as the dust settles, ominous concerns and unknowns remain about where we go from here.

Silicon Valley Bank's blowup has left a gaping hole in the venture capital ecosystem and triggered a mass migration to alternative financial partners. Eventually, we will see a new version of SVB emerge—albeit under the auspices of new management that will likely have different priorities, and perhaps different values, than its predecessor.

And the consequences will be far-reaching for the venture industry.

Welcome back to The Weekend Pitch. I'm Andrew Woodman, and you can reach me at andrew.woodman@pitchbook.com or on Twitter @adwoodman.
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A message from Plante Moran  
4 ways you should be using analytics—but probably aren’t
For a lot of private equity groups, deals are flowing but resources are scarce. So what's the best way to stay efficient and profitable through the due diligence process? Data analytics. Plante Moran's experts share four use cases you should consider:
  • Accelerating traditional due diligence efforts
  • Verifying previously reviewed and audited financials
  • Tapping into unrealized value and foresight
  • Leveraging diligence data to improve integration outcomes
Whether due diligence is an internal process or one trusted to a strategic partner, the case for data analytics is increasingly irrefutable.

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ICYMI
PitchBook is providing ongoing coverage of the collapse of Silicon Valley Bank and its aftershocks. Visit our continuously updated page to follow along for all the SVB-related news, analysis and research, including leveraged-loan reporting by LCD.
 

Trivia
Despite a difficult environment economically and politically, agtech has seen sustained interest from investors, reaching $10.6 billion in funding globally for 2022. That's the second-strongest year on record, but a decrease from 2021's high. How many agtech deals did PitchBook track in 2022?

A.) 187 deals
B.) 567 deals
C.) 988 deals
D.) 521 deals

Find your answer at the bottom of The Weekend Pitch!
 

SVB was a lender of first resort
for startups
(CryptoFX/Shutterstock)
Startup loans didn't play a large role in Silicon Valley Bank's demise, but the bank's failure is bound to reshape the venture debt landscape.

PitchBook analysts unpacked the likely implications, which include: near-term uncertainty around the fate of existing loans, headwinds for early-stage startups seeking debt funding, and higher borrowing costs as lenders become more stringent.
 

Private credit steals the show
(ShutterstockProfessional/Shutterstock)
Private credit firms are pouncing on the opportunity afforded by a banking crisis. Amid the unsettling news around the Silicon Valley Bank's collapse and broader industry turbulence, these managers are ready to lend to companies seeking funding.

The newest set of opportunities comes on the heels of a robust 2022 for private credit managers, who have continued to raise ample dry powder and edged out banks on debt deals funding companies and acquisitions. Our 2022 Global Private Debt Report explains how this asset class has held up in the face of significant challenges arising from high inflation and other economic headwinds.
 

The state of VC, visually
(Funtap.Shutterstock)
There's a lot to digest when it comes to the state of venture capital. With the many ups and downs, it's hard to know what the trends are or how much the gains and slumps really matter. Understanding the data, let alone visualizing it, is a chore. Our Quantitative Perspectives report breaks it all down for you. It's like having your own data whisperer.
 

Quote/Unquote
"Investors in the banks will not be protected. They knowingly took a risk and when the risk didn't pay off, investors lose their money. That's how capitalism works."

—President Joe Biden, in remarks from the White House following the collapse of Silicon Valley Bank. He gave assurances that the banking system was resilient, but that the government would not bail out investors in the now-failed bank.
 

Stay tuned
Keep an eye out for these fresh insights and research reports coming out this week!
  • Q4 2022 Mobility Tech Report
  • Q4 2022 E-commerce Report
  • 2022 Annual Real Estate Report
  • 2022 Greater China VC Report
 

Recommended Reads
Mortgages, wine and renovations: Silicon Valley Bank's deep tech ties. [The New York Times]

The Starlink exit plan: How SpaceX's satellites are bringing remote workers to the wilderness. [The Information]

Lifesaver or job killer? Why AI tools like ChatGPT are so polarizing. [The Washington Post]
 

Trivia
(Alf Ribeiro/Shutterstock)
Answer: C.)

The correct answer is 988 deals. Glean more about agtech and these deals from our 2022 Agtech Overview and market map.

This edition of The Weekend Pitch was written by Andrew Woodman, James Thorne, Madeline Shi and Jacob Robbins. It was edited by Alexander Davis and Ron Prichard.

Were you forwarded The Weekend Pitch? Sign up at pitchbook.com/subscribe.
 
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