Balyasny targets $350M for first VC fund

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

Log in

The Daily Pitch: VC

February 26, 2025

Presented by CIBC Innovation Banking

🌱 Femtech funding has flourished, with VC investment surpassing $5 billion since 2020. Shifting social attitudes and growing advocacy for women's health have driven investment, our Femtech VC Market Snapshot explains.

Wearables—such as smart rings—are a standout category, leading to personalized health tracking and reproductive care advancements with features and integrations tailored to women's health. Get the report

🏰 Chicago-based Thoma Bravo raised €1.8 billion for its inaugural European-focused fund, which will target middle-market software businesses. PE investment in the European software set a record last year at €57 billion. Read more

Plus...
• More firms are ditching DEI
• US tariffs may speed Europe's VC brain drain
• Dealmaking drops for medtech

Balyasny Asset Management raising $350M for debut VC fund

(Spencer Platt/Getty Images)

Balyasny Asset Management, which has $22 billion in AUM, is setting its sights on $350 million for its first dedicated VC fund.

The move from the multi-strategy firm follows that of other hedge funds—such as Point72 Asset Management and D1 Capital—that have significantly expanded into the private markets over the past decade.

Share:

Since yesterday, the PitchBook Platform added:

14

VC valuations

2749

People

821

Companies

46

Funds

See what our data software can do

The Daily Benchmark:
2017 Vintage North American Debt Funds

Median IRR

9.20%

Top Quartile IRR Hurdle Rate

11.23%

0.83x

Median DPI

Select top performers

Aero Credit Opportunities Fund I

Glendon Opportunities Fund II

Anchorage Illiquid Opportunities VI

*IRR: net of fees

68 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Anthropic is raising a $3.5 billion round at a $61.5 billion valuation led by Lightspeed, according to reports.

Israeli quantum computing startup Quantum Machines raised a $170 million Series C led by PSG.

Metronome, a San Francisco-based company developing a usage-based billing platform, raised a $50 million Series C led by NEA.

India's Geniemode raised over $50 million in a Series C led by Multiples Alternate Asset Management for its B2B platform that helps source products from South Asian markets.

Sparta, a Swiss provider of real-time intelligence for commodity traders, received a $42 million Series B led by One Peak.

Vivici, based in the Netherlands, secured a €32.5 million Series A for its animal-free dairy proteins. The round was led by APG and Invest-NL.

Sweden-based Lovable, the developer of an AI platform for building apps, raised a $15 million pre-Series A led by Creandum.

Edera raised a $15 million Series A led by M12. The Seattle-based company provides cybersecurity and network management software.

PE Deals

Investment management firm First Eagle is in talks to be acquired by Genstar Capital in a deal that could value the company at over $4 billion, Bloomberg reported.

PE firms including Lone Star Funds, Advent International and Apollo Global Management have been invited to bid on a package of homecare assets owned by Reckitt Benckiser Group that could be valued at around £4 billion to £5 billion, Bloomberg reported.

KKR, Fountainvest Partners and PAG are among potential bidders for a stake in Starbucks' China business, Reuters reported.

Amsterdam-based IT platform Your.World secured €800 million in long-term capital from Ares Management and The Carlyle Group.

Alterra Capital Partners acquired a majority stake in ARP Africa Travel for $400 million.

Exits

BP is considering a sale of its lubricants unit, which could be valued around $10 billion in a deal, after Elliot Investment Management built up a stake in the company, Bloomberg reported.

Advent International is considering an IPO for Argentina-based payments processing company Prisma Medios de Pago, which could have a valuation around $5 billion, Bloomberg reported.

Etihad Airways, which is owned by Abu Dhabi sovereign wealth fund ADQ, is planning to announce a $1 billion IPO this week, Reuters reported.

Geneva-based ID Quantique is in talks to be acquired by NYSE-listed IonQ in a deal worth about $250 million, Bloomberg reported.

India-based Tata Group is planning an IPO of Tata Capital, its financial unit, and plans to sell 230 million new shares.

Fundraising

Pictet Alternative Advisors aims to raise $1.25 billion for Monte Rosa Co-Investments VI, Private Equity International reported.

GCM Grosvenor closed its third co-investment opportunities fund on $615 million.

Chart of the Day

Source: 2024 Annual European VC Valuations 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

Balyasny targets $350M for first VC fund

Older messages

VC valuations' golden handcuffs

Our tech 'takes' on Trump's tariffs

Fund performance gap narrows

VC climate-tech funding falls for 3rd year

VC's rocky road forward

You Might Also Like

'Do Your Job: The Art of Winning' with Bill Belichick

Good Questions

Don't Pay

Turo's troubling signal for tech IPOs

Gaming exits could get an extra life

🛒 Alexa+ Wants to Run Your Life

🧠 Musk’s Grok 3

Get the AI SEO Playbook

LinkedIn Updates, Meta Ads, and YouTube Growth

📣 New Digiday Publishing Summit speakers announced