PitchBook News - The climate-tech startups to watch

Healthcare services' long winter; the top 10 investors in Canadian startups; SoftBank's Vision Fund bags $4B gain
Read online | Don't want to receive these emails? Manage your subscription.
Log in
The Daily Pitch: VC
February 9, 2024
The Daily Pitch is powered by PitchBook’s industry-defining research and best-in-class data
In today's Daily Pitch, you'll find:
Today's Top Stories  
A frosty winter for private equity in healthcare services
PE dealmaking in healthcare services declined an estimated 16.2% year-over-year in 2023, while platform deals hit a seven-year low as acquirers reeled from high interest rates and a prolonged labor crunch. Healthcare services companies made up 20% of leveraged loan default value in 2023, and large deals remain difficult to finance, according to our Q4 2023 Healthcare Services Report.

In 2024, rainmakers will be closely following interest rate cuts and antitrust scrutiny targeted at PE healthcare services as they wait for more favorable exit opportunities.
read the report
Share: Email LinkedIn Twitter Facebook
Startup Radar: VCs on climate-tech startups you need to know
(Andriy Onufriyenko/Getty Images)
Climate tech is expected to be a major theme for VC investors throughout 2024.

We asked five VCs active in the climate-tech market to share two startups—one in their portfolio, one not—that they expect to excel this year.
read more
Share: Email LinkedIn Twitter Facebook
Meet the 10 most active investors in Canadian startups
(Joey Schaffer/PitchBook News)
The US' northern neighbor has proven that it can be a big player in the tech scene. Home to some of the biggest startups in the VC ecosystem, such as ecommerce giant Shopify and generative AI company Cohere, VCs have been investing significantly in Canadian startups.

These are the most active investors betting big on the Great White North.
read more
Share: Email LinkedIn Twitter Facebook
SoftBank's Vision Fund roars with $4B gain; Arm lockup nears end
(Tomohiro Ohsumi/Getty Images)
Although the global VC landscape remains sluggish, for SoftBank's Vision Fund, recovery is already here.

The Japanese conglomerate's tech investment arm reported a $4 billion gain in the last three months of 2023, the division's largest quarterly return in almost three years.
read more
Share: Email LinkedIn Twitter Facebook
What shrinking UK exchange means for private markets
(Jenna O'Malley/PitchBook News)
When Dublin-based gaming giant Flutter made its New York stock debut on Monday, the UK-listed company also revealed that it will be moving its primary listing from London to New York.

The move is yet another in a series of recent blows to the London Stock Exchange's prestige as a listing destination. On the same day as Flutter's announcement, a Bloomberg report revealed that the number of companies trading on the exchange has contracted by 25% over the past decade.

For private market investors, the short-term effect may seem relatively benign, even positive. However, a diminished London stock market could have negative consequences for the long-term health of the private markets ecosystem in the UK and beyond.
read more
Share: Email LinkedIn Twitter Facebook
Since yesterday, the PitchBook Platform added:
VC valuations
See what our data software can do
The Daily Benchmark:
2018 Vintage Global VC Funds with less than $250M
Median IRR
Top Quartile IRR
Median DPI
Select top performers
Boulder Ventures VII
Inter-Atlantic Ivy
Chile Outlier Seed Fund I
*IRR: net of fees
42 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
Arjun Infrastructure Partners has appointed Misha Nahorny as a managing director in its London office where he will help expand the firm's European investment activity.
VC Deals  
The Walt Disney Company's $1.5 billion investment into Fortnite maker Epic Games is valuing the company at $22.5 billion, The Information reported. It's a 29% valuation cut from the company's last fundraising less than two years ago.

Project 3 Mobility, the Croatian developer of an autonomous urban mobility system, has closed a €100 million Series A from investors including Tasaru Mobility Investments, Neurone and Elaf Auto.

San Francisco-based Unlearn, which creates digital twins of clinical trial participants, has raised a $50 million Series C led by Altimeter Capital.

Pennylane, a Paris-based provider of accounting software, has reached unicorn status with a €40 million investment from Sequoia and DST Global.

Stockholm-based Xensam has raised $40 million from Expedition Growth Capital for its AI-powered software asset management platform.

Daedalus, a German builder of precision-manufacturing factories, has secured a $21 million Series A led by NGP Capital.

Thea Energy, a New Jersey-based fusion energy startup, has raised a $20 million Series A led by Prelude Ventures.

San Francisco-based Aizon, which develops AI-powered software for pharmaceutical manufacturing, has raised a $20 million Series C led by NewVale Capital.

Paris-based Jow has extended its Series A with $13 million led by Northzone. Jow offers an app for grocery shopping.

Austin-based Closinglock, a real estate fraud prevention startup, has raised a $12 million Series A led by Headline.

LimaCharlie, a cybersecurity cloud software startup based in California, has raised a $10.2 million Series A led by Sands Capital.
Don't miss our upcoming Tech Talk webinar
PitchBook senior analyst Rudy Yang has assembled a panel of experts from the payments industry to discuss the future of real-time transactions. Hear from the executives working on the instant-payment networks FedNow and Real Time Payments—as well as DailyPay and Forwardly, two companies utilizing these rails to foster the next generation of payments innovation. Key topics include:
  • What role instant transactions currently play in the fintech industry.

  • The biggest opportunities and use cases beyond the hype, as well as the greatest risks and challenges currently being faced today.

  • Beyond the US: How innovations in instant payments are taking shape globally and connecting the world.
Register now to secure your spot.
Share: Email LinkedIn Twitter Facebook
PE Deals  
Apollo Global Management is in talks to purchase a minority stake of around 30% in the Starbucks franchise AlShaya Group operates in the Middle East, North Africa and Central Asia, Reuters reported.

General Atlantic has made a minority investment in Partners Capital Group, a London-based outsourced investment office.

Indianapolis-based Bloomerang has received an investment from Warburg Pincus for its nonprofit management software platform.

Teamfront has received a growth investment from Mailsail Partners. Teamfront provides payments solutions and business management software.

Verlinvest has picked up a minority stake in Paris-based skincare brand Cible Skin, which will use the investment to expand across Europe, the US and China.
TiLT Capital, the energy transition platform of French PE firm Siparex, reached a €320 million final close of its first fund, exceeding its €300 million hard cap.

BNP Paribas Asset Management launched its BNP Paribas Agility Co-Invest Fund 2, which aims to raise between €700 million and €900 million for European minority investments. Its predecessor reached a €739 million close in 2021.
New York-based GP stakes investor Blue Owl Capital is launching a joint venture with Abu Dhabi-headquartered asset manager Lunate to provide growth capital to mid-sized private capital GPs.
Chart of the Day  
Source: 2023 Annual European Venture Report
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.

PitchBook Data Inc., 901 Fifth Avenue, Suite 1200, Seattle WA 98164, United States

© 2024 PitchBook. Win what's next. All rights reserved.

Older messages

Seed stage dodges VC valuation slide

Thursday, February 8, 2024

Clawback risk becomes reality for GPs; real assets outperform other strategies; Europe's female founders dive into 2024 Read online | Don't want to receive these emails? Manage your

Is this the end of co-investments?

Wednesday, February 7, 2024

Q&A: VCs turn to non-dilutive financing; enterprise fintech takes on payroll innovation; charting returns across 7 asset classes Read online | Don't want to receive these emails? Manage your

What LPs look for in a VC fund

Tuesday, February 6, 2024

CVCs crowd out VCs in gen AI deals; a private market waiting game; Q&A: 'Another epic year' for secondaries Read online | Don't want to receive these emails? Manage your subscription.

VC gloom: Who powered through?

Monday, February 5, 2024

Charting VC's budding acquisitions; fintech's tempo slows; healthcare investors proceed with caution; AI brings agtech innovation Read online | Don't want to receive these emails? Manage

London calling: more IPOs, please

Sunday, February 4, 2024

Plus: Startups seed the future of farming, eco-friendly industrials build steam, the next big thing in aircraft & more Read online | Don't want to receive these emails? Manage your subscription

Funtico Summoner Sale; Heroes of Mavia launch player DAO; Gods Unchained goes mobile; Catching up with Axie Infinity; Games to Watch in March, and more in Play to Earn Newsletter #217

Saturday, March 2, 2024

March 02, 2024 Funtico Summoner Sale; Heroes of Mavia launch player DAO; Gods Unchained goes mobile; Catching up with Axie Infinity; Games to Watch in March, and more in Play to Earn Newsletter #217

How Revenue Multiples Really Fall After Each VC Round

Saturday, March 2, 2024

Plus, 6 Questions Founders Should Ask Themselves for Generative AI To view this email as a web page, click here saastr daily newsletter How Revenue Multiples Really Fall After Each VC Round By Jason

Google Pays for AI Content + Niche Pursuits Community!

Saturday, March 2, 2024

What do Google Gemini, paying for AI content, and a weird niche website about Jedi Archives have to do with each other? Well, they are all featured on today's episode of This Week in Niche Pursuits

'There's a Confidence That Comes From Doing Hard Things'

Saturday, March 2, 2024

We spoke to former Oklahoma Women's Basketball Coach Sherri Coale about seeing opportunity amidst hardship and the off-the-court hallmarks of her great teams. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Insider Today: A 401(k) for longevity

Saturday, March 2, 2024

Plus: Tuscany beckons, and your decor gets a facelift. View in browser March 2, 2024 • 4 min read with Joi-Marie McKenzie Hiya! If you've ever dreamed of giving up the grind and retiring in Italy,

Finding top tech opportunities

Saturday, March 2, 2024

Also: February returns across a range of indexes; New TAMs loom for public PE giants; Infrastructure SaaS is ready for the sea change AI will bring... Read online | Don't want to receive these

In search of employment

Saturday, March 2, 2024

India urgently needs to ramp up labour-intensive economic activity to provide jobs for its young workforce ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏

All secrets about your competitors` ads

Saturday, March 2, 2024

Today's hack Ever wanted to know how much do your competitors spend on Google ads? Check this free tool out: SpyFu.com Just stumbled upon this awesome free tool SpyFu that shows, even without

Can AI truly save you time?

Saturday, March 2, 2024

How AI can cause you to start earning a 'passive income' faster than ever... ClickBank We're not going to lie to you. Earning profits with free traffic will take a lot of time and effort.

AI in India - What The Country is Up To?

Saturday, March 2, 2024

Exploring India's AI development, focusing on indigenous LLMs, government support, and challenges in achieving global AI integration ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌