Toasts, roasts and a fond farewell to 2021

Plus: Who will join Europe's unicorn club next?; the adoption of biochemicals; soaring PE growth deals & more
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Weekend Pitch
December 12, 2021
Presented by Deloitte
(AlexRaths/Getty Images)
Greetings, everybody, and thanks for joining me as we wrap up 2021 in grand holiday fashion.

I'll be your master of ceremonies here, as we call to order PitchBook's year-end venture capital banquet. It's time to put a bow on what has been an extraordinary year of fundraising, dealmaking and a few follies.

I'm Alexander Davis, and this is a holiday edition of The Weekend Pitch. You can reach me at alec.davis@pitchbook.com and follow me on Twitter @alecdavis.

Sure, the VC industry has had its share of noteworthy accomplishments in the year 2021. There were massive runups in valuations—I'm looking at you, Stripe. But there were also some head-spinning setbacks, most notably in China-related investments (don't worry, SoftBank folks, we've stocked the bar with you in mind). So without further ado, let's get to it. Hold your applause. And settle down in the back there, you crypto fans; you'll get your chest-beating moment.
read more
 
Share:   Email    LinkedIn    Twitter    Facebook
A message from Deloitte
Health tech is set to revolutionize the 2020s
Deloitte
Health tech is on a tear. Already, 2021 has seen close to 560 completed transactions accounting for $23.8 billion in deal value. In the latest edition of Deloitte's Road to Next series, the thriving health tech ecosystem is explored in depth, especially considering its acceleration by the COVID-19 pandemic. Highlights include:
  • Analysis of key datasets such as median financing metrics
  • A spotlight on the consumerization of healthcare
  • Insights from experienced health tech Deloitte professionals as to critical growth considerations, regulatory changes and more
Read it now
Share:   Email    LinkedIn    Twitter    Facebook

Quote/Unquote

Elizabeth Holmes walks through a security checkpoint as she arrives for her trial in San Jose this week. (Justin Sullivan/Getty Images)
"Of course not."

—Former Theranos CEO Elizabeth Holmes, in response to whether investors lost money as a result of her attempts to mislead them. The defense rested its case this week, and closing arguments are slated to begin Dec. 16.

Deal Flow

Private equity deal activity is the hottest it has been in at least 20 years, driven not only by strong buyout activity—particularly in sectors such as tech and business products and services—but also by an abundance of growth deals.

According to PitchBook's Q4 2021 Quantitative Perspectives report on US PE, growth deals accounted for 12.4% of all PE deal value as of the end of Q3—the most since 2009. This has contributed to more investment in areas like technology and consumer products relative to buyouts.

Datapoints

(steved_np3/Getty Images)
Nothing perhaps illustrates the maturing of Europe's venture capital ecosystem more than the proliferation of its unicorns. In all, 70 startups have reached a $1 billion valuation since January, according to PitchBook data—that's more than the previous four years combined.
  • The trend coincides with a massive uptick in pre-money valuations for late-stage VC deals. As of Dec. 2, the average pre-money valuation was just over $393 million, versus around $110 million last year.

  • The UK has produced the most unicorns in Europe during 2021, with 44, followed by Germany and France, which have 29 and 16, respectively.

  • More European unicorns are expected to be minted in 2022. We put together a list of six startups valued at $500 million-plus that could cross the $1 billion threshold in the new year.
Ads

Did you know ...

(Matt Gibson/Getty Images)
… That biochemicals are quietly usurping legacy chemicals in agriculture? Biological products are gaining adoption as a safer, healthier, and more environmentally friendly alternative to their synthetic forefathers.

VC-backed startups in the ag biological segment have raised $730.4 million across 13 deals this year as of Sept. 30, according to our recent Emerging Tech Research on agtech. Pivot Bio, which uses microbes to fertilize crops with nitrogen, broke out with a $430 million Series D led by Temasek. Other startups are gaining traction with pheromone-based insecticides and microbial fungicides.

Recommended reads

Nubank co-founder Cristina Junqueira on why the Brazilian neobank's IPO is about more than just raising cash. [Protocol]

All of our food either directly or indirectly comes from photosynthesis. Could a global food crisis be prevented by tinkering with the process? [The New Yorker]

A look at the US "charging deserts" leaving Black and Latino communities behind in the electric vehicle era. [The Washington Post]

As a growing number of young people look for climate-related work, companies are seeing the need to convince potential employees of their green credentials. [Bloomberg]

Meet the VCs having twice the fun in half the time. [Forbes]

Why Montana PE firm Beartooth Group is betting big on ranch land in the West. [Fortune]
This edition of The Weekend Pitch was written by Alexander Davis, Andrew Woodman and James Thorne. It was edited by Andrew Woodman, Angela Sams and Sam Steele.

Were you forwarded The Weekend Pitch? Sign up at pitchbook.com/subscribe.
Since yesterday, the PitchBook Platform added:
9
People
8
Companies
See what our data software can do
 
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.

Key phrases

Older messages

What could go wrong from here?

Saturday, December 11, 2021

Also: Is medtech innovation dead?; Agtech startups raising record sums of VC funding; Don't miss the new, live version of our VC Dealmaking Indicator! Read online | Don't want to receive these

A checkup on medtech innovation

Friday, December 10, 2021

How VC-backed IPOs stack up; CloudBees lands on $245M; Databricks unveils new venture fund; tunneling robot startup scoops up $30M Read online | Don't want to receive these emails? Manage your

Agtech startups reap record VC funding

Thursday, December 9, 2021

Nubank raises $2.6B in biggest LatAm IPO; HashiCorp goes public at $16B; Claroty snags $400M; SoftBank backs mental health startup Read online | Don't want to receive these emails? Manage your

VC valuation trends in seven charts

Wednesday, December 8, 2021

Six notable VC deals from 2021; Ursa Major lands $85M for rocket tech; Felix Capital brings on former Meta exec; Greycroft targets $1B+ fund Read online | Don't want to receive these emails? Manage

PE's recovery—and beyond

Tuesday, December 7, 2021

SEC's SPAC scrutiny ensnares marquee deals; Genesys lands $580M; Bain Capital Ventures taps Christina Melas-Kyriazi; Africa's TradeDepot raises $110M Read online | Don't want to receive

✂UK growth forecasts trimmed

Wednesday, January 26, 2022

.... and Royal Mail and Unilever announce job cuts View this email in your browser 26th January 2022 Bite-sized business news from the UK and beyond Good morning According to the Institute of Customer

The need for speed – this week on Inside Intercom

Wednesday, January 26, 2022

How to stay ahead of the competition. Hey there, As a company, what differentiates you from your competitors? In a lot of ways, it's not what you can do – it's how fast you can do it. Not too

Reliance has makeup on its mind

Wednesday, January 26, 2022

Also in today's edition: Top streamers double down on India; Coins dance to Nasdaq tune; Anti Vaxxers hit the streets ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

💎 5 Tweet Tuesday 💎 - Shaan's top tweets this week!

Wednesday, January 26, 2022

The Rock actually replied 👀 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Trends you could’ve known about weeks ago

Tuesday, January 25, 2022

Trends you could've known about weeks ago Hey. No time to waste. From our weekly Trends flare: Abstract line art: Yup. Searches are rising in several regions, so there are a ton of lucrative

Jan. 25 - Victoria's Secret sells stake in China business | Stitch Fix names CTO

Tuesday, January 25, 2022

Victoria's Secret will sell stake in China business for $45M; Amazon Go convenience stores are headed to suburbia; 5 tech trends to watch in 2022; Stitch Fix taps Visa exec as CTO View online |

5 reasons to audit your website (+ a step-by-step template to help)

Tuesday, January 25, 2022

The Content Marketer Today, we're showing you how to do a website audit in 9 steps, 5 free traffic sources with huge results, the top 8 best company newsletters for 2022 and more! 9-Step Website

Would West Elm Caleb be a good #ad?

Tuesday, January 25, 2022

Plus, why is influencer marketing so powerful? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Growth Newsletter #057

Tuesday, January 25, 2022

DTC reviews, writing pages, template landing pages, Ahrefs tactics ‌ ‌ ‌ The Growth Newsletter #057 Hey, Julian here. This newsletter curates growth insights from the Demand Curve Slack community. It

⚡ MC - Use the "Poster Boy Formula" to reach new audiences

Tuesday, January 25, 2022

View in browser This week's issue is one day late due to some personal issues. Sorry for the delay. Tip: Use the "Poster Boy Formula" to reach new audiences There's an easy way to get