Top PE & VC investors: You know 'em. You love 'em. Our Global League Tables have been updated to reflect Q3's most active investors by region, industry, and more—plus top advisers, acquirers, and law firms. See the rankings.
Fintech insights: AI agents are changing the game in both consumer and B2B fintech applications. We've got more data and insights from across the vertical in our new Retail Fintech Report and Enterprise Fintech Report.
Trending research: In case you missed them, here are three of our most popular notes over the past month:
|
|
|
|
|
|
| |
|
VC looks to private wealth for next phase of growth
|
|
A new frontier for venture has emerged from the depths of a nearly three-year stalemate.
Empty LP pockets have forced VCs to reevaluate whether gatekeeping access for only the ultra-wealthy and institutional investors is still effective.
Enter high-net-worth individuals. The private wealth channel has an estimated $450 trillion in net assets and is expected to invest over $7 trillion in the private markets by 2033.
 |
| Private wealth's access to alternatives is growing. |
VCs need a new source of funding to continue propelling their growth, especially during today's fundraising drought, and new investors have a prime opportunity to buy low. There is no better time for venture to finally evolve and capitalize on this untapped market.
However, high-net-worth individuals will not invest until venture rewrites its playbook.
These investors are either unable or unwilling to allocate millions per investment or lock up their capital for over a decade. For VCs to truly adopt a new investor base, new offerings must suit their needs and preferences for liquidity and lower barriers to entry.
Existing private wealth venture strategies are still nascent but promising. Leading firms like Sequoia, Andreessen Horowitz, StepStone, ARK, and SoFi are spearheading the much-needed innovation of traditional fund structures to unlock this new clientele.
For more analysis, read our free research note: Private Wealth Unlocks New Growth for Venture Capital
|
|
|
|
|
|
|
|
|
IPO momentum builds: What 2025 holds for PE-backed entrants
|
|
After years of uncertainty, the IPO market is on the rise again, and 2024 has proven to be a pivotal year.
With IPO value more than doubling year-over-year and capital raised reaching $67.9 billion through October, there's a growing sense of optimism among PE investors and market participants.
The question now is whether this resurgence will translate into sustained growth in 2025—and how prepared investors are to navigate the opportunities.
Recent analysis by our PE team underscores the interplay between IPOs and M&A activity. Historically, these dealmaking activities have moved in tandem, and 2024 has been no exception.
With M&A activity also rebounding, the environment seems set for a new cycle of elevated deal volumes.
A market ready for transformation
Our new research identifies 50 PE-backed companies that are primed to go public in the next 12 months.
From household names like Inspire Brands and Panera Bread to emerging category leaders in IT and healthcare, these companies represent sectors poised for growth. While some, like Clarios and UST Global, have already generated IPO buzz, others remain "off the radar," quietly building momentum for an eventual market debut.
For PE investors, IPOs offer a critical avenue to exit large portfolio companies and return capital to investors. But they're not just about liquidity; public offerings often serve as a launchpad for further growth, enhanced credibility, and strategic flexibility for these companies.
The case for optimism
Key indicators point to a favorable outlook for IPOs in 2025. Improved financing conditions, tighter credit spreads, and strong equity markets have created an environment conducive to public offerings.
Moreover, past cycles suggest that once IPO activity rebounds, it often sustains momentum for several years.
Notably, 2024's IPO entrants have delivered strong returns, with median performance nearing 50%. This trend highlights the value creation potential for investors who align early with market opportunities.
Stay ahead of the curve
As the market evolves, understanding the dynamics of PE-backed IPOs will be critical for investors and industry stakeholders alike.
To see our list of prospective IPOs and get deeper insights on the factors shaping 2025, download the free report today: Top US PE-Backed IPO Candidates and Outlook
Staying informed is key to positioning for success in this rapidly changing landscape.
|
|
|
|
|
|
|
|
| |
|
|
European VC Valuations Report
Valuations of VC-backed companies in Europe showed a strong recovery in Q3.
Stabilizing interest rates and slowing inflation contributed to the trend, as median deal values and valuations have grown across all stages compared to 2023 totals.
|
|
Larger rounds have dominated the market, signaling investor confidence.
Our new data illustrates why European VC may be past the worst of the downturn, with promising signs ahead:
Read the free report
|
|
|
|
|
|
| |
|
|
Hybrid Revival
Are hybrid vehicles greener than electric ones?
More consumers are purchasing hybrid over fully electric vehicles, indicating that meeting energy transition goals might be more realistic if companies embrace hybrid tech.
Our new research highlights several factors like production emissions, cost of materials, and consumer skepticism that push both manufacturers and drivers toward hybrids:
Read the free research
|
|
|
|
|
|
Tech Landscape: Aquaculture
Innovations in aquaculture, or fish farming, have turned this agriculture practice into the largest source of seafood production worldwide.
And VCs have taken notice, with a record $1 billion invested over 63 deals in 2023.
|
 |
| Clients can access the full aquaculture market map. |
|
|
|
Our research highlights developments in aquaculture technology and where future opportunities will emerge:
Read the free research
|
|
|
|
|
|
| |
|
|
Medtech Report
After a rough patch, medtech exits picked up in Q3.
VC deal flow this year is also on pace to surpass 2023's figure by 17%.
Our research explores the medtech trends and segments generating excitement and capital, with smart implant and wound care companies both seeing increased investment:
Read a free preview
|
|
|
|
|
|
Biopharma Report
VC activity in the biopharma sector rose in Q3, as generative AI has driven considerable excitement for applications like protein engineering.
Radiopharmaceuticals, which use radioactive isotopes to design targeted drugs, is another innovation hot spot.
Our new research digs into the data and explains why the VC exit pipeline should remain full:
Read a free preview
|
|
|
|
|
|
| |
|
|
A few more events to add to your calendar:
Dec. 4: Our latest Allocator's Atlas webinar series, which is designed for LPs, will dive into the growth of evergreen funds. Learn more about the fee structures involved and how liquidity is impacted. Register here.
Dec. 5: Lead VC analyst Kyle Stanford will join a live event hosted by Palico to discuss why LPs are increasingly using secondary sales to optimize their portfolios and manager relationships. Register here.
Jan. 29: Join us for PitchBook's Private Equity Breakfast Briefing! Our US PE analysts will share their latest data and insights followed by a panel discussion with industry experts. We'll have networking time, too. Register here.
|
|
|
|
|
|
| |
|
|
Our insights and data featured in the press:
- Venture distributions are at historic lows. [WSJ]
- Are the stars aligning for fintech IPOs? [CNBC]
- VC stays muted on healthcare IT, while PE investment is up. [Axios Pro]
- Why Spirit Airlines needs a better go-to-market strategy. [Barron's]
- Private credit spreads are expected to tighten while covenant protections loosen. [Alternative Credit Investor]
If you're a journalist interested in interviewing our analysts or requesting data, contact our PR team.
|
|
|
|
|
|
| |
|
|
More of our recent research (* - report preview):
Market updates
Thematic research
Industry & tech research
Coming next week (subject to change)
- Launch Report: Aerospace & Defense*
- US Public PE Roundup
- AI & Machine Learning Report*
- Clean Energy Report* (sneak peek!)
- UK Market Snapshot
- Quarterly Fintech M&A Review
- Emerging Space Brief: GPU Cloud
|
|
|
|
|
|
| |
|
|
| |
|
|
Since yesterday, the PitchBook Platform added:
|
|
2112
People
|
729
Companies
|
35
Funds
|
|
|
|
|
|
|
| |
