Global investors grapple with sustainability

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

PitchBook

Log in

The Daily Pitch: VC

October 1, 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:

A report on the results of our Sustainable Investment Survey, broken down by region, investor type and more.

VC-backed biotech startup Oxford Nanopore soared in its LSE debut.

VCs are making record investments in quantum computing—even though the finish line may be years away.

Today's Top Stories

Global investors grapple with sustainable investing

This summer, we surveyed hundreds of LPs, GPs and service providers about their sustainable investment practices, gathering insights on an increasingly important topic to many in the private markets.

Our 2021 Sustainable Investment Survey, sponsored by BlueMark and RSM, is now available, breaking down the data by respondent type and region to determine what is driving investment decisions. This year's writeup includes a new section that separates VCs' responses from the broader category of general partners. Report topics include:

What motivates sustainability efforts for LPs, GPs and others.

How investors measure their strategies' impact.

The biggest challenges when it comes to pursuing sustainable investing.

The effects of the world's current social and political landscape.

read it now

Share:

VCs bet on the technologically unproven field of quantum computing

(johnason/Getty Images)

IonQ, a quantum computing company, is set to close a reverse merger with a blank-check company and begin trading on the NYSE today at a market capitalization of about $2 billion.

Tech giants including Google and IBM, as well as startups like IonQ, Rigetti Computing, and PsiQuantum, are all competing to make the most powerful and reliable quantum machine.

While a fully functional quantum machine is still a long way off, venture capitalist interest in the nascent technology is at an all-time high.

Investors are betting that some real-life applications will emerge within the next five years, but most quantum computer hardware companies will still need significant capital infusions.

Recommended Reads

When it comes to asset management M&A, bigger does not necessarily mean better. Here's what research has to show about the benefits of boutique firms. [Institutional Investor]

The Evergrande crisis, stagnant prices, investors cashing out: Signs of a real estate downturn are exposing the Chinese economy's dependence on property. [The Economist]

Bird-watching boomed during the pandemic, but does the data reflect new trends in bird behavior, or in people's? [Wired]

Since yesterday, the PitchBook Platform added:

21

VC valuations

1670

People

400

Companies

30

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2020 Vintage Global Debt Funds
	A message from McDermott Will & Emery
	What healthcare investors need to know in today's market
	VC Deals
	Snyk hits $8.6B valuation
	Ola Electric reaches $3B valuation
	Perfect Day hits $1.5B valuation after Temasek, CPPIB-led round
	India's Meesho raises $570M
	OfBusiness picks up $200M Series F
	Alloy secures $100M Series C
	Reachdesk lands $43M
	Fundraising
	BGV closes $110M fund

The Daily Benchmark

2020 Vintage Global Debt Funds

Median IRR

10.20%

Top Quartile IRR Hurdle Rate

15.80%

1.06x

Median TVPI

Select top performers

Francisco Partners Credit I

Maverick Lien Fund V Co-Investors

Varde Dislocation Fund

*IRR: net of fees

21 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

A message from McDermott Will & Emery

What healthcare investors need to know in today's market

Are you prepared for the extraordinary opportunities today's unique private equity environment presents? A faculty of elite PE leaders and bankers will explore what buyers and sellers need to know at this year's virtual HPE New York conference Oct. 15.

Early risers can join at 8 a.m. EDT for a one-hour discussion with global heads of healthcare from top banks as they discuss the current market climate for healthcare investing.

The afternoon session from 12 p.m. to 2 p.m. EDT will feature healthcare PE leaders who will explore:

The Need for Speed: Critical Issues Facing Buyers
Supercharging Sellers' Strategies for Today's Market
Prepare for Tomorrow: How Government Actions Will Impact the Market

Register today

Share:

VC Deals

Snyk hits $8.6B valuation

Snyk, a developer security startup, has raised $75 million from Atlassian Ventures and Salesforce Ventures as an extension of its $530 million Series F announced last month. The additional funding increases the company's valuation to $8.6 billion and total capital raised to $850 million.

View round

View 34 competitors »

Ola Electric reaches $3B valuation

Ola Electric has raised more than $200 million at a $3 billion valuation from investors including Falcon Edge and SoftBank. The Bengaluru-based company recently launched its electric scooter and will use the funds for the development of other electric vehicles.

View round

View 6 competitors »

Perfect Day hits $1.5B valuation after Temasek, CPPIB-led round

Perfect Day, a milk-alternative company, has raised a $350 million Series D led by Temasek and the Canada Pension Plan Investment Board, valuing the business at $1.5 billion, The Wall Street Journal reported. Founded in 2014, the California-based company has raised $750 million in total funding.

View round

View 16 competitors »

India's Meesho raises $570M

Meesho, an Indian social ecommerce company, has raised a $570 million Series F at a valuation of $4.9 billion. The deal was led by Fidelity Investments and B Capital Group with the participation of other investors including Prosus Ventures, SoftBank's Vision Fund 2 and Facebook.

View round

View 17 competitors »

OfBusiness picks up $200M Series F

OfBusiness has raised $200 million at a $3 billion valuation in a round led by Tiger Global. The Indian company operates a B2B ecommerce platform for raw materials procurement and offers credit to small and medium-sized businesses.

Additional Investors:

Falcon Edge Capital, SoftBank

View round

View 17 competitors »

Alloy secures $100M Series C

New York-based Alloy has raised $100 million at a $1.35 billion valuation in a round led by Lightspeed Venture Partners. The company is the developer of an identity verification platform designed to help financial institutions such as Ally Bank and Ramp prevent fraud and manage security risks. Alloy was valued at $220 million in December, according to PitchBook data.

Additional Investors:

Avid Ventures, Bessemer Venture Partners, Canapi Ventures, Felicis Ventures

View round

View 22 competitors »

Reachdesk lands $43M

Reachdesk has raised a $43 million Series B led by Highland Europe. The company is the developer of a corporate gifting marketplace for B2B enterprise customers such as ZoomInfo, ZScaler and Hootsuite.

Additional Investors:

Highland Capital Partners, HubSpot, RLC Ventures

View round

View similar company »

Fundraising

BGV closes $110M fund

Benhamou Global Ventures has raised $110 million for its fourth flagship fund. The Palo Alto-based VC firm invests in cloud-native, AI- and automation-driven companies; its portfolio includes Totango, Flytrex and Virtana.

View fund

View 84 investments »