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The Daily Pitch: VC

February 14, 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:

Five key charts that depict how startup valuations continued to show resiliency across the venture lifecycle in 2021.

Our Healthtech Partnership Tracker dives into notable relationships between stakeholders and startups looking to forge favorable alliances.

Amid steep competition for early-stage investments, European VCs are turning to scout networks to better identify promising startups.

Today's Top Stories

Five charts that show US VC's record valuations in 2021

(wimagine/Getty Images)

Valuations of VC-backed companies continued their dizzying climb as the venture ecosystem reveled in record levels of dry powder and the proliferation of nontraditional investors during the past year.

Here's a closer look at five key charts from our 2021 Annual US VC Valuations Report that depict how startup valuations continued to show resiliency across the venture lifecycle in 2021.

see the charts

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Tracking healthtech startups' partnerships with corporations, agencies and more

(Mint Images/Getty Images)

Partnerships represent a key strategy for business development and can lend important insight relevant to market trends and growth opportunities. Our new Healthtech Partnership Tracker seeks to provide an extended list of recently announced partnerships between healthtech companies and other healthcare stakeholders, such as corporations, government agencies and insurers.

We also provide an overview of partnership trends with an analysis of key partnership types.

see the tracker

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A message from BMO Sponsor Finance

Residential services, healthcare in the middle-market spotlight

In the current issue of Transaction Trends, BMO Sponsor Finance provides insights and proprietary data to examine the trends driving middle-market deal flow in residential services, the impact of rising healthcare wages and the resiliency of the industrial distribution sector.

To learn more, download the full issue of Transaction Trends. You can also contact Stephen R. Isaacs, managing director and head of BMO Sponsor Finance, at stephen.isaacs@bmo.com.

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How VC scout networks are gaining traction in Europe

(TCmake_photo/Getty Images)

With more startups founded each year, venture capital investors can struggle to sort the wheat from the chaff. Many are turning to scout networks to better identify promising startups.

Marking a newer feature of the European startup ecosystem, more VCs are launching their own networks to help discover new investment opportunities, source deals and foster Europe's angel community.

Recommended Reads

Portfolio manager Joe Fath is counting on emerging tech from the likes of Rivian, Microsoft and Snap in his mission to restore T. Rowe Price's oldest mutual fund to its former glory. [Forbes]

From Ring surveillance footage to TikTok videos, one writer's take on the technological productions playing out at our front doors. [The New York Times]

Will 2022 be the year that Elon Musk smooths out yet another kink in his deep-space enterprise, or could it be the year that his momentum stalls? [The Atlantic]

Since yesterday, the PitchBook Platform added:

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VC valuations

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People

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Quick Takes


	The Daily Benchmark
	2013 Vintage Global PE Funds with more than $1B
	VC Deals
	NEA leads $300M round for Branch
	Salt Security raises $140M Series D
	Northspyre brings in $25M
	Agot AI picks up $12M

The Daily Benchmark

2013 Vintage Global PE Funds with more than $1B

Median IRR

15.75%

Top Quartile IRR

19.76%

1.74x

Median TVPI

Select top performers

Sun Capital Partners VI

TDR Capital III

Altas Partners Pre-Fund Portfolio

*IRR: net of fees

40 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

NEA leads $300M round for Branch

Branch has raised $300 million at a $4 billion valuation in a round led by NEA. The company is the developer of a mobile linking and attribution platform designed to unify user experience and measurement across devices and channels.

View round

View 124 competitors »

Salt Security raises $140M Series D

Salt Security has raised $140 million at a $1.4 billion valuation in a round led by CapitalG. Based in Palo Alto, the company offers protection against attacks on APIs. Salt Security was valued at $625 million in May, according to PitchBook data.

Additional Investors:

Advent International, Sequoia, DFJ Growth, Alkeon Capital Management, Y Combinator, Tenaya Capital, S Capital VC

View round

View 1 competitors »

Northspyre brings in $25M

Northspyre has raised a $25 million Series B led by CRV, with support from Craft Ventures, Tamarisc Ventures and Intercom co-founder Des Traynor. The New York-based company is the developer of a project automation platform for real estate developers.

View round

View similar company »

Agot AI picks up $12M

Foodtech startup Agot AI has raised $12 million from investors including Conti Ventures, Kitchen Fund, Grit Ventures and Yum! Brands. Based in Pittsburgh, the company offers AI-based software to help restaurants confirm order accuracy.

View round

View 3 competitors »

PitchBook Webinar: The Definitive Guide to GP Fundraising

More than $1 trillion is committed to private market funds each year, yet much of this figure is represented by a handful of larger funds—while smaller and less developed funds struggle to get their footing.

In our GP fundraising webinar on Feb. 24, we'll explore how to navigate the current fundraising environment, with LP perspectives on what makes for an effective fund manager and how to stand out among the competition.

Register now

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