PitchBook News - Should VCs pick a lane?

Don't want to receive these emails? Manage your subscription.

Log in

The Daily Pitch: VC

September 23, 2024

Presented by SVB

In today's Daily Pitch, you'll find:

Our analysts find VCs produce better results when they stick to their sector expertise

Not everyone in PE is thrilled about the Fed's rate cut

Code-generation startups have become generative AI's best-funded space

The upstarts challenging the weight-loss giants

Today's Top Stories

Jack of all trades? Think twice about VC

VCs who stick to their domain expertise when investing in startups have generated better outcomes, according to our latest analyst note.

Using an AI-powered model, our analysts found that startups whose lead investors had a high level of expertise in a particular sector were 1.2 times more likely to have a successful exit than companies backed by generalist VCs. This has been especially important at the early stage and in highly technical areas like pharma and healthtech.

read it now

Share:

Fed's rate cut sparks hope, but PE dealmakers remain wary

(Kmatta/Getty Images)

While the markets celebrate the Federal Reserve's interest rate cut, some PE fund managers and advisers remain cautious. They said weakening business performance, among other factors, is an obstacle to the rebound in PE dealmaking.

Share:

Since yesterday, the PitchBook Platform added:

1

VC valuations

292

People

96

Companies

3

Funds

See what our data software can do

The Daily Benchmark:
2015 Vintage Global Funds-of-Funds

Median IRR

18.56%

Top Quartile IRR

20.82%

0.77x

Median DPI

Select top performers

Peakview Capital Fund I

TrueBridge-Kauffman Fellows Endowment Fund IV

TrueBridge Capital Fund IV

*IRR: net of fees

57 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

PhysicsWallah, an India-based edtech platform provider, raised over $210 million for its Series B at a $2.8 billion valuation. Investors included Lightspeed, Hornbill Capital and GSV Ventures.

AtoB, a fintech payments startup based in San Francisco, has raised a $130 million combined Series C and debt round led by General Catalyst and Bloomberg Beta.

San Francisco-based Picus Security, a cyber validation startup, has raised a $45 million Series C led by Riverwood Capital.

Datamaran, a London-based provider of ESG software, secured a $33 million Series C from Morgan Stanley Expansion Capital.

Everest Fleet, an India-based ridesharing startup, raised $30 million from an investment by Uber.

Ferovinum, a London-based funding and supply chain platform provider for the wine and spirits industry, secured a £17.5 million Series A led by Notion Capital.

San Francisco-based Fathom, which offers an AI meeting platform, has raised a $17 million Series A led by Telescope Partners.

Access our data directly

Integrate PitchBook data into your systems to fit your workflow. Data Feeds and APIs work with any system, allowing customization for your team's access.

Request data feeds here.

Share:

PE Deals

New York-based RF Investment Partners has made a platform investment in Altro and Amici Pharmaceuticals, two founder-owned companies that focus on generic pharmaceuticals for the pet and animal markets.

Goldman Sachs has invested in Interplay Learning, which offers an online platform for career development in skilled trades, as the company acquires Industrial Training International.

True North Advisors has bolstered its wealth management capabilities through the acquisition of Clear Rock Advisors, effectively adding $470m in AUM.

FlightKeys, a software solutions provider for airlines seeking to optimize flight planning and operations, has received a strategic growth investment from Insight Partners.

Stellex Capital Management has agreed to acquire Fox Brothers Holding Group, an environmental service provider to the construction and infrastructure industry.

New Heritage Capital has made a majority investment in Brilliant, an educational software specialist.

Exits & IPOs

Tokyo Metro plans to raise around $2.24 billion through an IPO, which would be Japan's largest public offering since 2018, Bloomberg reports.

Fundraising

Avid Ventures has launched its second flagship fund with $87 million in commitments to invest in fintech and SaaS startups.

Corporate M&A

Chip developer Qualcomm has approached Intel with a takeover offer, The Wall Street Journal reported. Intel has a market value of about $90 billion.

Chart of the Day

Source: Q2 2024 US PE Middle Market Report

About PitchBook | Terms of use | Advertise with us | Contact

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

PitchBook News - Should VCs pick a lane?

Older messages

Long wait for Fed's impact

VC expertise and exit outcomes

New hope dawns for VC

Rise of the AI agents

Ukraine defense-tech VC fund targets $50M

You Might Also Like

Recruiting Brainfood - Issue 428

Simple hack to get 4x more shares

I built an online tool site in 5 minutes

How to Describe a Hallucination

+28,000% Engagement with Pinterest?

The importance of pillar pages for SEO

The importance of pillar pages for SEO

The best books about AI&ML, 2024 edition

How to control your audience

$166K MRR - simple employee scheduling tool..