1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - Sizing up VC returns by series

Why US VC valuations are soaring; ProbablyMonsters snags $200M; Carbon Robotics grabs $27M; Plantible cooks up $21M+
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Daily Pitch: VC
September 3, 2021
Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A
In today's Daily Pitch, you'll find:
  • The third installment in our research note series on venture returns by stage.

  • An analysis of why US VC valuations have rocketed to new heights.
Today's Top Stories
How early-stage VC deals drive inordinately high returns
(RapidEye/Getty Images)
Investors are consistently allocating larger amounts of capital to startups that go on to exit successfully—a trend especially distinct with later-stage financing.

Our latest analyst note is the third in our series breaking down venture returns by round. In this new installment, we've refined our approach to enable richer analysis of the flow of capital. Key takeaways include:
  • The data suggests a clear relationship between capital raised and the success or failure of a company.

  • The earliest stages, especially Series A, show asymmetrically high returns compared with later-stage deals.

  • The attractive VC fund returns of the past few years have accelerated the increase in capital allocated to venture investing.
read it now
 
Share:   Email    LinkedIn    Twitter    Facebook
US VC valuations reach unprecedented levels
Record levels of dry powder and a fierce influx of nontraditional investors into the venture ecosystem have buoyed VC-backed company valuations to record heights in the second quarter of this year.

Our US VC Valuations Report examines how startup valuations across the venture lifecycle and sectors have changed in 2021. Key takeaways include:
  • Early-stage pre-money valuations notched records in Q2, with a median and average of $50 million and $105.4 million, respectively.

  • At the late stage, the median and average valuations hit $160 million and $882.4 million, respectively, representing a sharp increase from values recorded in previous years. The value growth is partly driven by investor willingness to write increasingly larger checks to pre-IPO companies.

  • Exit valuations grew at a decade-record rate, with median acquisition and public listings step-ups of 2.2x and 1.7x, respectively, from their last private market values.
read the report
 
Share:   Email    LinkedIn    Twitter    Facebook
A message from Ansarada
21 must-know trends from 100+ global dealmakers
Ansarada has partnered with Mergermarket to analyze the impact of digital technology across every stage of the deal lifecycle—from deal strategy, marketing and preparation to due diligence, negotiation, closing and post-deal integration.

After interviewing more than 100 global dealmakers, Ansarada has broken down the current trends across end-to-end M&A dealmaking practices in its report, 21 trends the modern dealmaker needs to know.

A must-read for anyone wanting to improve and streamline their deal processes through innovation and automation.

Download the free trends report here
Share:   Email    LinkedIn    Twitter    Facebook
Recommended Reads
Early investors in the SPAC boom may be sitting on high returns, but late arrivals are not faring as well. [The Wall Street Journal]

Investors are facing a backlash as some question the efficacy of sustainable investing and whether it is only slowing down real change. [The Economist]

Many tobacco companies are trying to rebrand for a smoke-free future, but can the public trust them? [The Washington Post]
Ads
Since yesterday, the PitchBook Platform added:
10
VC valuations
1606
People
429
Companies
20
Funds
See what our data software can do
 
Quick Takes
  The Daily Benchmark  
  2012 Vintage Global Buyout Funds  
  VC Deals  
  ProbablyMonsters hauls in $200M  
  Carbon Robotics banks $27M  
  Plantible cooks up $21.5M in new funding  
 
 
The Daily Benchmark
2012 Vintage Global Buyout Funds
Median IRR
15.32%
Top Quartile IRR Hurdle Rate
20.42%
1.57x
Median TVPI
Select top performers
MTS Health Investors III
BVIP Fund VIII
Clearlake Capital Partners III
*IRR: net of fees
105 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
VC Deals
ProbablyMonsters hauls in $200M
Video game developer ProbablyMonsters has raised a $200 million Series A led by LKCM Headwater Investments. Founded in 2016, the Bellevue, Wash.-based company plans to use the funding in part to support its goal of ensuring long-lasting, sustainable careers for those in game development.
View round
 
View similar company »
 
Carbon Robotics banks $27M
Carbon Robotics has raised a $27 million Series B led by Anthos Capital. The Seattle-based company is the developer of an autonomous robot designed to help farmers eradicate weeds and unwanted plants through thermal energy. Carbon Robotics was valued at $29 million in 2019, according to PitchBook data.
Additional Investors:
Bolt Innovation Group, Fuse, Ignition Partners, Liquid 2 Ventures, Voyager Capital
View round
 
View similar company »
 
Plantible cooks up $21.5M in new funding
Plantible has raised a $21.5 million Series A led by Astanor Ventures, with support from other investors including Eighteen94 Capital and Unshackled Ventures. Founded in 2018, the San Diego-based company uses lemna, a type of aquatic plant, to create plant-based protein products. Plantible plans to use the funding to build its first commercial facility by 2022.
Additional Investors:
Vectr Ventures, FTW Ventures, GoodFriends, Lerer Hippeau Ventures, Piva Ventures, CJ CheilJedang
View round
 
View 3 competitors »
 
Chart of the Day
Source: PitchBook's H1 2021 Greater China Venture Report
Who's in the newsletter today?
Investors
Anthos Capital
Astanor Ventures
Bolt Innovation Group
CJ CheilJedang
Eighteen94 Capital
FTW Ventures
Fuse
GoodFriends
Ignition Partners
LKCM Headwater Investments
Lerer Hippeau Ventures
Liquid 2 Ventures
Piva Ventures
Unshackled Ventures
Vectr Ventures
Voyager Capital
Companies
Carbon Robotics
Plantible
ProbablyMonsters
 
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.

© 2021 PitchBook Data. All rights reserved.
Venture capital, private equity and M&A financial information technology provider.

Older messages

Mega-rounds boost retail healthtech

Thursday, September 2, 2021

Checkr hits $4.6B valuation; Bee Partners appoints Jocelyne Cooke as CFO; Insurify secures $100M; Humane brings in $100M Read online | Don't want to receive these emails? Manage your subscription.

Europe's VC valuations rocket

Wednesday, September 1, 2021

Allbirds files for IPO; autonomous truck specialist hauls in $85M; Versanis Bio lands $70M; Syndicate raises $20M round led by a16z Read online | Don't want to receive these emails? Manage your

China on pace for VC records

Tuesday, August 31, 2021

VC funds battle back; Elad Gil targets $620M vehicle; Biotech startup Laronde lands $440M; Whoop nabs $200M Read online | Don't want to receive these emails? Manage your subscription. PitchBook Log

The decentralized future of finance

Monday, August 30, 2021

A16z is embracing seed deals again; Rivian confidentially files for IPO; A-Star Partners targets $250M debut fund; Toast plans to go public Read online | Don't want to receive these emails? Manage

The bull case for Chinese tech

Sunday, August 29, 2021

Plus: Natural language processing goes mainstream, female founders experience a fundraising gap, SPAC legal woes & more Read online | Don't want to receive these emails? Manage your

You Might Also Like

I launched the ULTIMATE seo chrome extension (free)

Sunday, March 9, 2025

You are so very welcome ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Trump’s Bitcoin Reserve, Tokyo Beast’s $1M Championship & King of Destiny’s 2M $GOD Showdown – Your Ultimate Crypto & Gaming Update!

Sunday, March 9, 2025

PlayToEarn Newsletter #263 - Your weekly web3 gaming news ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Profile: The man who wants to know everything & the med spas offering balding treatments

Sunday, March 9, 2025

This edition of The Profile features Tyler Cowen, Lalisa Manobal, Zhang Shengwei, and others. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Marketing Weekly #222

Sunday, March 9, 2025

Why Faceless Social Media Accounts Don't Work — Lessons From Someone Who Tried • How We Cut Lead Costs by 75% with Facebook Ads (and How You Can Too) • The True Art of Being Customer-Centric • The

Why The Per-Seat Model Isn’t Dead (Yet)

Sunday, March 9, 2025

And the top SaaStr news of the week To view this email as a web page, click here The Per-Seat Model Isn't Dead. But Also, Surprisingly, It Was Never Dominant. The Per-Seat Model Isn't Dead. But

Startups gear up for EU defense surge

Sunday, March 9, 2025

Also: Female founder face anti-DEI wave, our Global Markets Snapshot wraps up February's action & more Read online | Don't want to receive these emails? Manage your subscription. Log in The

Sunday Thinking ― 3.9.25

Sunday, March 9, 2025

"Whenever honesty is missing, walls slowly start appearing." ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🚨 Weekend Wrap-Up: Chatbots Are Stealing 96% Of Your Clicks

Sunday, March 9, 2025

The Weekend Update... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

🦄 How to create a unicorn

Sunday, March 9, 2025

Vanta opens up about building a security game-changer. 🔐 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Brain Food: Guts Over Brains

Sunday, March 9, 2025

Your reputation isn't just what people say about you—it's the position from which you make every move. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏