Mobility startups cruise to new funding highs

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The Daily Pitch: VC

February 18, 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:

Our latest Mobility Tech Report explores trends that shaped this space in Q4 2021, including a market map and details on key VC deals.

Sequoia is going all-in on crypto with up to $600 million dedicated to liquid tokens, digital assets and more under its new evergreen structure.

Six charts from our latest European VC Valuations Report showcasing some of the key trends that influenced valuations in 2021.

Today's Top Stories

Autonomous driving, EV companies steer mobility tech funding to record highs

Venture investors are pouring billions of dollars into mobility tech startups that have benefited from increased demand for low-cost, environmentally friendly transportation solutions. Electric vehicle and other mobility tech startups raised $23.4 billion in VC funding in Q4 2021, up 81.9% year-over-year.

Our latest Mobility Tech Report examines the major trends that shaped this space in Q4. The report includes a market map and explores key deals.

read the preview

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Sequoia is serious about crypto—for good this time

(ADLC/Getty Images)

Like much of the venture capital community, Sequoia's relationship with cryptocurrency startups has waxed and waned with the fortunes of the industry.

Now the venerable investor is going all-in with up to $600 million in dedicated funds for crypto projects, including tokens and other digital assets. The vehicle is one of three new funds launched under Sequoia's evergreen structure.

So where is Sequoia placing its crypto bets? Take a look.

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Partner Perspectives

An all-time high for life sciences' venture investment at $47 billion

Multiple records set in 2020 across venture investment activity all fell last year as dealmaking soared to a frenzy. No less than $47 billion was invested across just over 2,000 completed transactions. The latest edition of Orrick's life sciences publication series is now available, summarizing key trends in dealmaking and providing insights into recent industry developments, with highlights including:

A roundtable discussing longevity, featuring executives from HCW Biologics, Inc., Oisin Biotechnologies, BioAtla, Boehringer Ingelheim and others.
Financing metrics on deal sizes and valuations.
Analysis of record-breaking exit activity and future liquidity potential.

Read it now

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Six charts showcasing Europe's bumper year for VC valuations

(twomeows/Getty Images)

Valuations for European and Israeli startups hit record highs in 2021, the result of a convergence of factors including competition for deals, growing round sizes and increased participation from nontraditional investors.

Here's a look at six charts from our latest European VC Valuations report showcasing some of the key trends that shaped valuations last year.

Recommended Reads

Why activist investor and Third Point CEO Daniel Loeb thinks the market is failing to recognize Amazon's full potential. [The Wall Street Journal]

Millions of employees leaving their jobs has inspired a new wave of organizing among the workers that remain—and a brutal pushback. [The New York Times]

"Zero-click" hacks, which exploit operating system flaws rather than malicious links or attachments, are growing in popularity, and not just among hackers. [Bloomberg]

Since yesterday, the PitchBook Platform added:

14

VC valuations

1544

People

474

Companies

32

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2019 Vintage Global Funds-of-Funds
	VC Deals
	J&T Express picks up $2B
	Synthego lands $200M
	Voltron Data launches with $110M
	Instrumental brings in $50M Series C
	Classiq secures $33M
	Fundraising
	Thrive Capital raises $3B across two funds
	Vestigo Ventures closes $117M+ fund

The Daily Benchmark

2019 Vintage Global Funds-of-Funds

Median IRR

37.36%

Top Quartile IRR

48.14%

1.33x

Median TVPI

Select top performers

Adams Street 2019 Global Fund

BMO First Canadian Capital Partners

HarbourVest Partners XI-Venture

*IRR: net of fees

30 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

J&T Express picks up $2B

J&T Express has raised $2 billion from investors including Temasek, Hillhouse Capital, Boyu Capital and Sequoia China, Bloomberg reported. Founded in 2015 and based in Jakarta, the company offers logistics and shipping services across Southeast Asia.

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Synthego lands $200M

Synthego has raised $200 million in a round led by Perceptive Advisors. The company is the developer of a genome engineering platform to help discover new therapies. Synthego was valued at $450 million in 2020, according to PitchBook data.

Select Additional Investors:

GigaFund, Laurion Capital Management, Logos Capital, Moore Strategic Ventures, RA Capital Management, SoftBank, Chimera Capital

View round

View 30 competitors »

Voltron Data launches with $110M

Voltron Data has raised a $88 million Series A led by Walden Catalyst in addition to $22 million in seed financing. Based in the Bay Area, the company is a provider of open-source data analytics software. Investors including BlackRock, Anthos Capital, GV and Lightspeed also participated in the funding.

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Instrumental brings in $50M Series C

Instrumental has raised $50 million in a round led by BAM Elevate, with support from Canaan, Root Ventures and Eclipse Ventures. Based in Palo Alto, the company is a developer manufacturing optimization software. Instrumental was valued at $95 million in 2020, according to PitchBook data.

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Classiq secures $33M

Classiq has raised a $33 million Series B from investors including Hewlett Packard Pathfinder, Spike Ventures and Samsung NEXT. The Tel Aviv-based company offers quantum algorithm design software.

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View similar company »

Fundraising

Thrive Capital raises $3B across two funds

New York-based Thrive Capital has raised $2.5 billion to back late-stage companies, in addition to a $500 million early-stage vehicle, The Wall Street Journal reported. The tech-focused firm's portfolio includes fintech companies Plaid and Carta.

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View 166 investments »

Vestigo Ventures closes $117M+ fund

Vestigo Ventures has raised $117.3 million for its sophomore fund. Based in the Boston area, the VC firm plans to invest the new capital in fintech companies.

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View 25 investments »