Opportunities in remote health monitoring

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The Daily Pitch: VC

May 31, 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:

Our Healthcare IT Report unpacks investor opportunities in remote patient monitoring

Paris' Poolside AI is in talks to raise $450 million at a reported $2 billion valuation

Six charts illustrate the key trends driving French VC

Today's Top Stories

Can investors create value in remote patient monitoring?

Technologies that enable doctors to monitor patients' health between office visits promise to improve health outcomes, particularly for those with chronic conditions. This highly fragmented remote monitoring segment is ripe for consolidation, according to our latest Healthcare IT Report, with opportunities for investors to create scale and improve efficiency.

But there are hurdles, including buy-in from doctors, who struggle to integrate longitudinal care into their normal workflows.

read the preview

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Bain Capital Ventures in talks to lead Poolside AI's $450M funding round

(SOPA Images/Getty Images)

Poolside AI, a Paris-based startup developing a specialized large language model for software developers, is in talks to raise $450 million, according to a person with knowledge of the deal.

The round is being led by Enrique Salem, an infrastructure software investor at Bain Capital Ventures, according to two people with knowledge. BCV participated in the company's seed round in 2023.

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Ranking the most active investors of Q1

Our interactive Global League Tables are now available for Q1 2024, covering the full range of private market activity. We rank everything from the most active law firms in the venture universe to the busiest PE investors by region. Who made the leaderboard?

see the rankings

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Since yesterday, the PitchBook Platform added:

11

VC valuations

2507

People

946

Companies

48

Funds

See what our data software can do

The Daily Benchmark:
2019 Vintage Global VC Funds with more than $250M

Median IRR

12.48%

Top Quartile IRR

22.03%

0.02x

Median DPI

Select top performers

XVC Fund II

GreatPoint Ventures Innovation Fund II

Column Group IV

*IRR: net of fees

33 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Zenobē, a London-based provider of battery storage services for electric vehicle fleets, secured £410 million in debt financing.

Sedemac, an Indian provider of motor and engine controls, raised $100 million in a round led by Xponentia Capital, A91 Partners and 360 One.

Cincinnati-based biotech startup CinRx Pharma raised a $73 million round. CinRx has a portfolio of five companies including CinCor, which was acquired by AstraZeneca last year.

London-based FintechOS closed a $60 million Series B+ led by Molten Ventures, Cipio Partners and BlackRock for its financial product management platform.

Stockholm-based climate-focused fintech startup Doconomy completed a €34 million Series B led by UBS Next and CommerzVentures.

Maven AGI, a Boston-based generative AI startup focused on the customer support industry, raised $28 million from investors including M13, Lux Capital and E14 Fund.

Madrid's Ifeel, which offers a mental health platform for enterprises and insurance companies, raised $20 million in a round led by FinTLV Ventures and Korelya Capital.

Saudi Arabia-based agtech startup Iyris secured a $16 million Series A led by Ecosystem Integrity Fund.

PE Deals

Brookfield and Temasek are in exclusive talks to buy French renewable power producer Neoen at a €6.1 billion valuation.

Kartesia bought a controlling stake in Hotelatelier, an urban boutique hotel operator based in Madrid, PE Hub Europe reported.

UK middle-market investor Bowmark Capital has invested in Eque2, which provides enterprise resource planning software to the construction industry. The deal will result in a partial exit for 2020 investor WestBridge.

New York-based buyout firm Hudson Glade acquired Quality First Home Improvement, an essential home services provider.

Essential Turbines, which specializes in maintenance, repair and overhaul of helicopter engines, received a strategic investment from Swift Anchor.

Dominus Capital has recapitalized Safe Haven Defense, a security window film provider.

Infrastructure investor Homecoming Capital made a $50 million investment in Clean Energy Terminals, a project developer of offshore wind port infrastructure.

Angeles Equity Partners acquired O'Hara's Son Roofing, a commercial and industrial roofing provider.

Exits & IPOs

UK-based Synova has agreed to sell travel insurance data specialist InsurEvo Group to NSM Insurance Group, a US-headquartered specialist insurance provider.

Brussels-based middle-market firm Apheon has exited its majority stake in Dolciaria Acquaviva, an Italian producer of frozen bakery products, to Belgian family-owned food group Vandemoortele.

IK Partners has agreed to invest in BIOBank, a French provider of bone grafts for orthopedic surgery from Verto Growth and Capital Croissance.

BastionZero, which offers a platform for zero-trust infrastructure access, has been acquired by Cloudflare.

Cloud-based clinical data management platform Algorics has been acquired by Precision for Medicine.

Bay Area-based Split, a feature management software startup, has been acquired by Harness.

Fundraising

Switzerland-based PE firm Eevolve announced a €372 million close of its first fund, which will target Swiss small and medium-sized enterprises.

Indian early-stage consumer VC firm RPSG Capital Ventures closed its second fund on roughly $66 million.

Corporate M&A

Sony Music is in talks to buy the music catalog of UK rock band Queen, according to reports. Earlier this month, the music and entertainment group incorporated a vehicle called Rock Bidco.

Chart of the Day

Source: Q1 2024 US VC Valuations Report

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Opportunities in remote health monitoring

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