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PitchBook News - Endowments tap into alumni networks

Plus: Wearable medtech's golden age, enterprise SaaS plays catch up, the struggles of emerging managers & more
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The Weekend Pitch
May 28, 2023
Presented by Deloitte
(Chloe Ladwig/PitchBook News)
Last weekend, on my usual jog through Central Park, every iconic mile marker—Shakespeare Garden, Bethesda Fountain, Bow Bridge—was engulfed in violet.

NYU's graduation day had sent hoards of students in satin gowns and mortar board caps to every corner of the park, sweaty photographers in tow.

More than a third of NYU's MBA graduates go into financial services. For colleges and universities, this stream of alumni offers a point of connection to tomorrow's decision (and money) makers. Many endowments, eager to employ this competitive advantage, tap into that sea of violet when deciding where to invest.

That's certainly the case in private equity, where the alumni network offers endowments favorable fees, greater transparency into fund mechanisms and access to stronger deal sourcing. But the network's benefits don't always show up in the institutions' annual returns.

This is the Weekend Pitch, and I'm Jessica Hamlin. You can reach me at jessica.hamlin@pitchbook.com or on Twitter @jessicaAhamlin.
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A message from Deloitte  
Resilient dealmaking in work software points to frontier of empowering employees
In 2022, work software hit its second-highest percentage of all expansion-stage deal value on record, at 15%. Dealmakers are plying rapidly growing businesses in this sector to gain exposure as multiple businesses revamp their tech stacks and adopt new tools. In the latest edition of Road to Next, Deloitte reviews survey and PitchBook datasets in depth to explore these trends and more, with key findings including:
  • How exit prospects for work software companies are faring relative to the broader space
  • What Deloitte surveys are revealing about trends in employee tool usage and ROI
  • Analysis of dealmaking across regions paired with the latest trends in remote to hybrid workflow adoption
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Trivia
In the last 12 months, which of the following was not a top area of VC investment for defense tech?

A) Renewable energy
B) Sensing, connectivity and security
C) Semiconductors and microelectronics
D) Biotechnology

Find the answer at the bottom of The Weekend Pitch!
 

The golden age of wearable medtech

(PopTika/Shutterstock)
From on-the-go dialysis to wearable breast pumps, discover the rapidly changing world of medical technologies with our new Medtech Report.

Precision medicine, surgical cardiovascular devices, and neurostimulation are taking off in the industry, which brought in $1.8 billion VC dollars in Q1.
 

Enterprise SaaS catches up with industry trends

Driven by blockbuster deals and startups ascending to unicorn status, the enterprise SaaS vertical has seen a strong few quarters—but greater market slowdowns signal the good times may be coming to end.

Our new Enterprise SaaS Report lays out the trends, segments, top deals and investors in the space. What future opportunities does the vertical hold for investors? Our inaugural report lays it all out.
 

Funds are getting fatter and fewer
Private market funds are on track to pull in less capital in 2023 than last year, based on Q1 data, and there are fewer open funds recruiting LPs. At the same time, they're getting bigger, with around 65% of funds raising more than $1 billion per year.

These trends don't bode well for emerging managers trying to raise their first funds. Our Global Private Market Fundraising Report has vital data through Q1 on seven strategies.
 

Quote/Unquote
(EchoVisuals/Shutterstock)
"HSBC and [David] Sabow immediately engineered a scheme to plunder what Sabow deemed the 'core of [SVB's] profitability engine.'"

—First Citizens Bank, in a lawsuit that accuses HSBC, along with several former Silicon Valley Bank employees, of stealing trade secrets and proprietary information in the days and weeks following its collapse.
 

Recommended Reads
Maasai are getting pushed off their land so Dubai royalty can shoot lions. [Bloomberg Businessweek]

Here's how AI is coming for office workers' jobs. [The Atlantic]

Millionaire vs. billionaire: A neighbor is suing hedge funder Ray Dalio after his family added a floor to a historic building, leading to potential structural issues. [Business Insider]
 

Stay tuned
Keep an eye out for these fresh insights and research reports coming out this week.
  • Q1 2023 Gaming Report
  • 2023 France & Benelux Private Capital Breakdown
  • Q1 2023 Healthcare IT Report
  • May 2023 Global Markets Snapshot
 

Trivia
Answer: C)

Over the past 12 months, the top defense tech segments were renewable energy and generation ($3.9 billion), sensing, connectivity and security ($3.4 billion), and biotechnology ($3.2 billion). Explore the segment in our Defense Tech Vertical Snapshot.

This edition of The Weekend Pitch was written by Jessica Hamlin, Rosie Bradbury, Jacob Robbins, Emily Burleson and James Thorne. It was edited by Heather West and Laural Hobbes.

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