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The Daily Pitch: VC

January 11, 2022

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 latest edition of PitchBook's Benchmarks, tracking private fund returns across strategy, geography and more.

Our latest analyst note explores fundraising trends and performance within the PE mega-fund space.

Female founders had an exceptional 2021, but they still only pulled in a small fraction of total US VC funding.

Today's Top Stories

PitchBook Benchmarks for PE, VC and more

As allocators devote more and more resources to alternative assets, the largely opaque nature of private capital makes finding transparent fund performance a challenge.

Enter our quarterly PitchBook Benchmarks, which provide a detailed snapshot of the latest data on closed-end fund returns across strategies and vintage years. The new edition is now available, updated through Q2 2021 and featuring downloadable XLS tables, data visualizations, and PDFs that break down the numbers by fund type and geography.

take a look

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An exceptional year for female founders still means a sliver of VC funding

(Daniela Simona Temneanu/Getty Images)

2021 was an exceptionally strong year for venture capital investment across the US; total funding topped nearly $330 billion, according to PitchBook data.

But despite the surge in overall numbers, companies founded solely by women garnered only 2% of dollars invested in VC-backed startups throughout the year.

Recommended Reads

Despite rising costs and transparency issues, pension funds are pumping record sums into private equity. [The Wall Street Journal]

An obscure corner of trust law offers a new kind of corporate ownership structure, one that can make the values of a pro-social company permanent. [The New Yorker]

Pending FDA approval, cultivated meat may be reaching supermarkets soon. [Bloomberg]

Since yesterday, the PitchBook Platform added:

23

VC valuations

1456

People

448

Companies

16

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2015 Vintage Global PE Funds with more than $1B
	VC Deals
	SoftBank invests $146M in Qraft
	Akura Medical secures $25M
	Femtech startup Gameto lands $20M
	Zluri picks up $10M

The Daily Benchmark

2015 Vintage Global PE Funds with more than $1B

Median IRR

19.40%

Top Quartile IRR

24.44%

1.59x

Median TVPI

Select top performers

Brookfield Capital Partners IV

Oaktree Power Opportunities Fund IV

Thoma Bravo Discover Fund

*IRR: net of fees

54 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

SoftBank invests $146M in Qraft

Seoul-based Qraft Technologies has raised $146 million from SoftBank. The company is a developer of AI-based investment tools for global asset managers.

View round

View similar company »

Akura Medical secures $25M

Akura Medical has raised $25 million in Series A1 financing led by Cormorant Asset Management. The company is developing thrombectomy devices designed to remove blood clots.

Additional Investors:

Picard Angst MedTech, Shifamed, The Capital Partnership

View round

View similar company »

Femtech startup Gameto lands $20M

Gameto has raised a $20 million Series A led by Future Ventures. The New York-based company is developing ovarian therapeutics intended to improve fertility and help women manage the impact of menopause.

Select Additional Investors:

Bold Capital Partners, Lux Capital, Overwater Ventures, Plum Alley Investments, TA Ventures

View round

View similar company »

Zluri picks up $10M

Zluri has raised a $10 million Series A led by MassMutual Ventures. Founded in 2020 and based in the Bay Area, the company is the developer of a SaaS management platform for IT teams.

Additional Investors:

Endiya Partners, Kalaari Capital

View round

View similar company »

PitchBook Webinar: Technology trends impacting AI, climate and food

Join Pitchbook's Emerging Tech team on Jan. 13 to hear their analysis and expectations for emerging tech market growth and investment opportunities in AI and machine learning, climate tech and foodtech.

During the webinar, PitchBook analysts will share insights on specific technologies ripe for growth and expectations for the space in 2022, including:

AI and machine learning, and the shifting priority toward more data preparation.

Which carbon negative technologies are driving growth in climate tech.

Foodtech's remarkable progress and expectations for growth among alt-protein providers in 2022.

Register here to secure your spot.

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Chart of the Day

"As with the early stage, the gap between median late-stage valuations has held steady in 2021. The median for the VC market overall is $120.0 million, 71.4% higher than the full-year 2020 markup. For female-founded companies, the median is $100.0 million YTD, a 69.4% increase from 2020."

Source: PitchBook's All In: Female Founders in the US VC Ecosystem Report