PE pans SEC's push for more data disclosure

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The Daily Pitch: VC

January 31, 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:

PE firms and hedge funds are criticizing proposed SEC rules that would expand the confidential data large funds must disclose to regulators and increase the speed with which they must share it.

Six charts that break down US VC's biggest records in 2021.

Today's Top Stories

Private equity and hedge funds pan SEC's push for more data disclosure

SEC Chairman Gary Gensler (Bill Clark/Getty Images)

Too much and too fast.

That's how private equity firms and hedge funds assess proposed SEC rule changes that would significantly expand the amount of confidential information large funds must share with regulators, increase the speed with which they must share it, and boost the number of vehicles that fall under the reporting requirements.

SEC Chairman Gary Gensler says the new rules are needed to enhance regulators' ability to detect systemic risk, regulate the private funds industry and protect investors.

But industry groups are panning the transparency rules as onerous new requirements that would accomplish little more than bogging down investment firms in additional red tape.

Recommended Reads

Why Paris is emerging as an attractive location for international finance firms. [Bloomberg]

How much does it cost to launch a spacecraft into orbit? A lot less than it used to, thanks to startups working to outclass longtime aerospace heavyweights. [Visual Capitalist]

As China and Europe lead the race to make electric vehicles mainstream, the US is holding out. [Wired]

Since yesterday, the PitchBook Platform added:

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Quick Takes


	The Daily Benchmark
	2020 Vintage Global VC Funds
	VC Deals
	Moglix scoops up $250M
	Enable Injections brings in $215M
	Delivery startup Zapp secures $200M
	Esusu banks $130M in SoftBank-led round
	The Non Fungible Token Company secures $10M

The Daily Benchmark

2020 Vintage Global VC Funds

Median IRR

18.15%

Top Quartile IRR

44.30%

1.13x

Median TVPI

Select top performers

Ethos Fund I

General Catalyst Group X

Northzone Conviction I

*IRR: net of fees

57 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Moglix scoops up $250M

Moglix has raised a $250 million Series F co-led by Alpha Wave Global and Tiger Global. The funding values the Indian company at $2.6 billion. Moglix operates a B2B marketplace for industrial goods.

Additional Investor:

Ward Ferry Management

View round

View 5 competitors »

Enable Injections brings in $215M

Enable Injections has raised a $215 million Series C led by Magnetar Capital. The Cincinnati-based company is a developer of wearable drug delivery systems designed to administer high volumes of therapeutics.

Select Additional Investors:

Cintrifuse, Ohio Innovation Fund, Squarepoint Capital, Woody Creek Capital Partners

View round

View 5 competitors »

Delivery startup Zapp secures $200M

London-based Zapp has raised $200 million in a Series B led by Lightspeed, 468 Capital and BroadLight Capital, TechCrunch reported. Formula One driver Lewis Hamilton also joined the round for the rapid delivery startup.

View round

View 2 competitors »

Esusu banks $130M in SoftBank-led round

Esusu has raised $130 million at a $1 billion valuation in a Series B led by SoftBank's Vision Fund 2. The New York-based company is the developer of a rent reporting platform designed to help tenants improve their credit scores.

Select Additional Investors:

Motley Fool Ventures, Next Play Ventures, SB Opportunity Fund, Serena Ventures, Sinai Ventures, Type One Ventures, Type One Ventures

View round

View 30 competitors »

The Non Fungible Token Company secures $10M

Unblocked, also known as The Non Fungible Token Company, has raised $10 million in seed financing from investors including Tiger Global and Penske Media. The funding values the company at more than $90 million. Los Angeles-based Unblocked helps artists create digital music collectibles as NFTs.

View round

View similar company »

PitchBook Webinar: A look at VC's record-breaking 2021

Join PitchBook and NVCA on Feb. 2 for a webinar covering the recent Q4 2021 PitchBook-NVCA Venture Monitor.

Our panel of PitchBook analysts and industry experts from Insperity and NVCA will discuss the report's findings, the VC landscape for 2022 and other timely market considerations, including:

In 2021, US VC investment topped $329 billion for the first time, nearly doubling 2020's total of $166.6 billion.

Strong VC returns in recent years continue to encourage capital inflow into the strategy.

The IPO window in 2021 allowed an unprecedented $774.1 billion exit value.

The potential for greater uncertainty on the public listing market in 2022.

Register now to secure your spot

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Chart of the Day

Source: PitchBook's Q3 2021 US PE Middle Market Report

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PE pans SEC's push for more data disclosure

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SoftBank's no good, very bad week

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