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Catching sight of eyecare innovations
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Eyeglasses and contacts might not be the most expensive part of consumer healthcare costs each year, but the ubiquity of poor vision makes the eyecare specialty ripe for VC-backed disruption.
Our latest analyst note has a clear view into the sector's next decades and its opportunities for investors. Innovations in intraocular lenses, which are implanted after cataract removal, and in childhood treatments for myopia may improve the quality of life for patients. And if federal regulations ease, more patients could get vision prescriptions without an annual visit to the optometrist. |
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Instacart's $10B IPO secures windfall for Sequoia
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| (Hispanolistic/Getty Images) |
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The bellwether of the 2023 tech IPO window reopening has made its debut: Grocery delivery company Instacart has priced at $30 a share, at the top end of its expected range.
The IPO values Instacart at $10 billion on a fully diluted basis, marking a huge windfall for its largest shareholders: VC firm Sequoia and former Instacart CEO Apoorva Mehta. |
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Make research-powered assessments throughout the investment cycle
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Global economic recovery continues to face disruptions, prompting increased scrutiny of deals. New technologies and products might be intuitively exciting, but excitement doesn't always translate to success. Conducting comprehensive due diligence can make a significant difference in investment outcomes.
There are numerous opportunities for smart private equity firms to apply custom primary research throughout the investment lifecycle.
- Thematic industry evaluation
- Early-stage deal screening and due diligence
- Brand or product positioning
- Portfolio company optimization
- New market or product expansion
- Sell side positioning
Each stage requires a specialized approach to maximize value, enable the right focus and uncover the most valuable insights. For more details on leveraging these strategies throughout the investment lifecycle, check out Dynata's latest article. |
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Keeping safe in the postquantum world
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The era of quantum computing is fast approaching and with it new challenges and concerns over keeping data and critical infrastructure secure.
Our latest Emerging Space Brief on postquantum cryptography dives into new cryptography methods, the startups working to implement them and what opportunities are on the horizon in spaces like banking, cybersecurity and more. |
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New moves in the retail healthcare chess game
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Two recent announcements from major retail healthcare players could reshape the value-based primary care landscape. Lead healthcare analyst Rebecca Springer examines the immediate and long-term implications of these moves.
Walmart's potential acquisition of ChenMed, a Medicare Advantage-focused primary care group, could launch the retailer into the center of a value-based care turf war. ChenMed is a prize asset—the last independent, scaled senior primary care group other than beleaguered Cano Health.
Meanwhile, Walgreens' strategic partnership with VC-backed value-based care enabler Pearl Health marks the first major strategic deal between a VBC enabler and a retail healthcare player—a combination our analysts expect to see more of in the future. |
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Resigning Calpers CIO led PE charge
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Calpers CIO Nicole Musicco
(PATRICK T. FALLON/Getty Images) |
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Calpers CIO Nicole Musicco broached her resignation in a somber comment to the pension plan's investment committee Monday.
The largest state public pension plan in the US announced Friday that Musicco will step down at the end of the month, citing immediate family concerns as the reason for her departure a year and a half after her appointment. |
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A trophy catch in leveraged loans: Worldpay's $9.4B LBO financing
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| (sasirin pamai/Shutterstock) |
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The leveraged loan market received a boost recently when it landed a huge credit package backing the LBO of payment processing specialist Worldpay.
It's one of the biggest LBO financings since the global financial crisis. For much of the recent past, lucrative M&A deals have been snapped up by private credit providers, leaving Wall Street's arranging banks starved for business.
Get weekly leveraged finance and private credit market updates in the new PitchBook LCD newsletter, The Credit Pitch. |
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Could AI startup OpenAI be the next tech giant? [The Economist]
The supply chain crisis that made Flexport into a VC darling and founder Ryan Petersen into a Silicon Valley celebrity is long gone. [The Information]
Research shows M&A deals can pay off, but it's far from a sure thing. [The Wall Street Journal] |
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Since yesterday, the PitchBook Platform added:
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6
VC valuations
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2771
People
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550
Companies
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26
Funds
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The Daily Benchmark:
2015 Vintage Global PE Funds
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| Cathay Innovation has appointed Bruno Delahaye partner in its Paris office. Delahaye will lead the firm's consumer practice, which focuses on early- to growth-stage investments in startups across Europe, Asia and the US. |
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Don't miss our upcoming webinar
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Given shaky investor sentiment and prolonged regulatory tightening, many industry players wonder what's ahead for US PE in Q4. While banks have been slow to commit to new loans, syndicated LBOs picked up steam in H1 and are forecast to continue in Q4. PitchBook analysts will revisit forecasts made at the beginning of the year with updates from our 2023 US Private Equity Outlook: H1 Follow-Up. Key topics include:
- PE exits remain muted but the bid-ask spread has narrowed, and pressure is building for an M&A recovery.
- PE returns have underperformed public market returns year-to-date.
- Take-private activity, contingent on debt availability, has seen deal sizes shrink.
Resister now to secure your spot. |
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Personal & Informatik majority owner Hg and minority owner Permira have been weighing options to sell all or part of their stakes in the cloud-based HR software provider, Reuters reported. The deal could value the German company at more than €2 billion.
CVC Capital Partners and Bain Capital are in talks with Mumbai-listed Torrent Pharmaceuticals to buy Indian drugmaker Cipla for up to $1.5 billion, Reuters reported.
KKR has agreed to buy a 20% stake in Singapore communication technology company Singtel's regional data center business for 1.1 billion Singaporean dollars (about $800 million).
Advent International has been considering selling its 56% stake in CCC Intelligent Solutions, which provides software to the automotive industry, Reuters reported. Other PE firms are among the potential buyers.
Litmus Music, backed by The Carlyle Group's credit platform, has acquired the rights to five of pop star Katy Perry's albums, a portfolio that includes 16 multiplatinum singles. The deal was worth $225 million, Billboard reported.
OMERS Private Equity, a division of the Canadian pension fund, has agreed to acquire a majority stake in Knight Commercial, a restoration, construction and roofing company.
The Ontario Teachers' Pension Plan has agreed to increase its holding in Australian environmental markets project developer GreenCollar by acquiring stakes from KKR and other investors.
Falfurrias Capital Partners has invested in Brainlabs, a London-based media agency previously backed by Livingbridge.
Bluestone Equity Partners has made a minority investment in RWS Global, an entertainment company that operates global live shows, destinations and experiences. |
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SXSW is hosting their annual Pitch competition this coming March, and we've released our Pitch Report just in time for you to learn everything you need to know to apply.
Dive in to get an overview of the current early venture landscape, see how past participants have performed, and browse this year's categories before you submit.
Download now |
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Mobile video game developer Playtika is buying VC-backed peer Innplay Labs in a deal that could range from $80 million to $300 million.
Feminine hygiene and sexual wellness startup The Honey Pot, backed by VMG Partners, is exploring a sale, Bloomberg reported. |
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"Just 3.2% of completed deals in Greater China included a US investor through 2023 YTD. That figure is less than half the proportion from 2015, suggesting that US investors' role in the Greater China market has waned in recent years. For US investors, too, the Biden administration's Executive Order prohibiting US firms from investing into Chinese startups operating in sectors including semiconductors, quantum computing, and AI further adds barriers to cross-border activity in the region."
Source: H1 2023 Greater China Venture Report |
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