1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - Ivys' not-so-elite returns

Plus: Seed deals keep sprouting, the data that healthcare investors need, the future of open banking & more
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Weekend Pitch
November 5, 2023
Presented by Masterworks
(Jenna O'Malley/Pitchbook News)
Endowments at the top universities in the US have had a tough couple of years, and their struggle is far from over.

Fiscal years 2022 and 2023 saw the worst returns in the past decade for Ivy League endowments. And as valuation corrections cut through the private markets, it may be a while before these institutional investors see above-average returns.

The Princeton University endowment saw the worst performance in the Ivy League in FY 2023 with a 1.7% loss on its investments. The university's return is a steep dip from its performance over the last decade, which averaged an annual return of 10.8%.

It's the same story among its peers. Out of the eight schools in the Ivy League, Columbia University was the only institution to generate a return above 4%. After a decade ripe with annualized returns averaging around 10%, these measly fiscal year results present the bleak reality of a high interest rate environment, volatility in public equities and a drawn-out valuation correction in the private markets.

This is the Weekend Pitch, and I'm Jessica Hamlin. You can reach me at jessica.hamlin@pitchbook.com or @jessicaAhamlin on X.
read more
 
Share: Email LinkedIn Twitter Facebook
 
A message from Masterworks  
This asset was bought for $19K and sold for $110M—access the market here
When a New York City developer purchased an untitled painting from an artist for $19,000 in 1983, he definitely wasn’t expecting a 5,798x return on his investment. But that's exactly what happened when he sold the Basquiat work for a stunning $110,000,000 in 2017.

Now, everyday investors are unlocking access to the very same market thanks to the blue-chip art investing platform Masterworks. Masterworks’ nearly $1 billion collection includes works by greats like Basquiat, Banksy, and Picasso. When Masterworks sells a painting—like the 16 it's already sold—investors reap their portion of the profits.

With over 840,00 users, offerings can sell out in minutes, but PitchBook readers can skip the waitlist to join.

Investing involves risk and past performance is not indicative of future returns. See important Reg A disclosures and aggregate advisory performance masterworks.com/cd.
Share: Email LinkedIn Twitter Facebook
 
 

Trivia
(Mike Kline/Getty Images)
Which of the following cities is the fastest-growing VC ecosystem in the US, according to a PitchBook analysis?

A) Houston
B) Raleigh
C) Miami
D) Detroit

Find your answer at the bottom of The Weekend Pitch!
 

Why seed deals keep sprouting

(sarayut Thaneerat/Getty Images)
While valuations of most stages have wilted since the market peaked in 2021, deal metrics of seed deals have only grown stronger thanks in large part to the participation of large, multistage investors.

Our latest analyst note, The Seed Blip, examines why we think the growth spurt will turn out to be a temporary phenomenon.
 

Helping PE healthcare investors mind the specifics

(Richard T. Nowitz/Getty Images)
Generalist PE firms buying and building healthcare providers with no eyes on their operations are out. What’s in: Specialists armed with industry expertise in areas like value-based care. Our quarterly Healthcare Services reports reflect that reality.

Our new Healthcare Services Overview breaks down categories and subcategories within the industry, allowing for ever more specific insights into investment drivers and headwinds.

Open banking puts data in consumers' hands


(Busakorn Pongparnit/Getty Images)
In the fintech industry's top dog, the enterprise fintech sector, all eyes are on developments in open banking technology. It provides a more secure and reliable way for consumers to share financial data with outside applications, giving them power in an area historically controlled by banks.

The European Union and the UK have pioneered the technology, and our recent Emerging Tech Research explores its leading players—Plaid, Oracle, Apple and others—and notable startups including Akahu, Basiq and Flinks.
Chris Heller
 

Quote/Unquote
"What we think [about] when finding today's alternatives is being early, so we invest in barrels of whiskey, boat marinas, wireless spectrum licenses, all kinds of things."

—Chris Heller, co-managing partner and founder of San Francisco-based Cordillera Investment Partners, which invests in what it calls "alternative alternatives."
 

Recommended Reads
Shipping startup Flexport just acquired Convoy's assets. Now it faces a crisis heading into the holiday season [Bloomberg]

Why so many L.A. creatives meet up at a secret, underground spot: Ikea [Los Angeles Times]

The economy is great. Why are Americans in such a rotten mood? [The Wall Street Journal]
 

Stay tuned
Keep an eye out for these insights and research reports coming out this week:
  • Global Fund Performance Report
  • US VC Valuations Report
  • PitchBook Private Capital Indexes Report
  • Infrastructure SaaS Quarterly Report
  • Healthcare Services Quarterly Report
  • Agtech Quarterly Report
  • MedCity INVEST Digital Health Conference Recap
  • Germany Quarterly Snapshot

Trivia

Answer: D)

Detroit, long known as Motor City, is the fastest growing VC ecosystem in the US and the second-fastest growing VC ecosystem in the world, according to a recent PitchBook report. Cities with thriving startup scenes tend to have these three qualities in common.

This edition of The Weekend Pitch was written by Jessica Hamlin, Marina Temkin, Clarinda Simpson and Emily Burleson. It was edited by Heather West and Ron Prichard.

Were you forwarded The Weekend Pitch? Sign up at pitchbook.com/subscribe.
 
Since yesterday, the PitchBook Platform added:
1
VC valuations
72
People
60
Companies
See what our data software can do
 
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

Making sense of seed deal data

Saturday, November 4, 2023

Also: Mapping the global infrastructure SaaS ecosystem; Two webinars this week and new industry research for healthcare services and carbon tech... Read online | Don't want to receive these emails?

Fintech's opportunity in open banking

Friday, November 3, 2023

VC's David vs. Goliath moment in AI chips; M&A's recipe for a rebound; charting the course for IPOs; traditional finance embraces crypto tech Read online | Don't want to receive these

How LP returns are feeling the exit squeeze

Thursday, November 2, 2023

VC looks to UK for overseas deals; factory financing fuels carbon tech's record Q3; LBO equity contributions top 50% Read online | Don't want to receive these emails? Manage your subscription.

Climate-tech startups buck trends

Wednesday, November 1, 2023

How to raise a debut VC fund; Q&A: M12's new head on OpenAI, fresh focus; the heart of PE healthcare investing; 3 things a VC city needs Read online | Don't want to receive these emails?

Sizing up the seed blip

Tuesday, October 31, 2023

A16z targets $3.4B across 2 funds; VC's leaders in defense, aerospace tech; ranking VC's most active players Read online | Don't want to receive these emails? Manage your subscription. Log

You Might Also Like

Launch Your Own Crypto Token in Eve Frontiers; A new blockchain phone from Solana Mobile

Friday, September 20, 2024

PlayToEarn Newsletter #245 - Your weekly web3 gaming news ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Reader, last chance, get your free AI training…

Friday, September 20, 2024

Hey Reader, I wanted to remind you that our free AI training is still available, but only for a little longer! I've emailed you a few times because I don't want you to miss out on this quality

🎙️ Find That Pod #280

Friday, September 20, 2024

Let's discover some awesome podcasts together. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Two Charged in $230M Bitcoin Theft Linked to Genesis Bankruptcy

Friday, September 20, 2024

Plus Silvergate Executives Claim Chokepoint 2.0 Forced Their Closure ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Blogging is Making a MAJOR Comeback

Friday, September 20, 2024

Today, I've got 2 different videos related to the Google's most recent August core update. First, I just released this video yesterday: Blogging is Making a Major Comeback!​ ​ I share several

Holiday 2024: In-Store Sales Drop, eCommerce Stays Strong [Crew Review]

Friday, September 20, 2024

Email is one of the easiest ways to grow your off-Amazon sales and support your on-Amazon sales. With Omnisend, setting up your campaigns couldn't be easier. Make email marketing easy. Hey Reader,

53,000 visitors a month for THIS?! 🚀

Friday, September 20, 2024

You're overthinking it! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Updated features for LinkedIn pages

Friday, September 20, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by social-media-marketing-world-logo It's Library Card Sign Up Month, Reader! It's the best card you'll

Influence Weekly #355 - TikTok's E-commerce Expansion: 12 Industry Experts Weigh In On Opportunities And Strategies

Friday, September 20, 2024

Beast Games Contestants Sue MrBeast, Amazon Over Alleged Sexual Harassment, Mistreatment ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Weekly Dose of Optimism #112

Friday, September 20, 2024

Three Mile Island, Obesity Goop, Metformin, Antigravity, The Prize, Porphyrion ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏