Real estate fund sizes set records in 2021

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The Daily Pitch: VC

March 10, 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 H2 2021 Global Real Estate Report tracks the pandemic rebound and how the real estate investing landscape may change in an evolving market.

No longer limited to their stationary posts on assembly lines, autonomous robots are making their way up and down the supply chain.

Meet the investors who want to bring back the woolly mammoth.

Today's Top Stories

Specter of inflation driving real estate out of pandemic funk

Real estate funds raised $152.7 billion in 2021, a year-over-year increase of 6%, as capital committed bounced back only modestly from the dip wrought by COVID-19.

Rising inflation may reshape the future of real estate funds, as the strategy is one of the asset classes expected to provide a hedge. Our H2 2021 Global Real Estate Report tracks the pandemic rebound and how the real estate investing landscape may change in an evolving market. Key takeaways include:

Allocations to real estate are likely to increase amid inflation, with signaled rate hikes dictating which strategies benefit and potentially driving capital to lower-risk areas.

Median and average real estate fund sizes set records in 2021, but funds over $5 billion, which dominate other strategies, remain rare.

The pandemic has redirected capital into sectors including logistics, industrial and life sciences at the expense of retail and hospitality investments.

The share of funding going to emerging managers continues to fall as LPs favor experienced managers and as real estate fund management remains difficult to enter.

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The great robot awakening: Mobile machines are taking over the supply chain

(Drew Sanders and Julia Midkiff/PitchBook News)

The robotics revolution that took over factories has now arrived at virtually every point in the supply chain, from farm fields to forklifts.

Thank mobile robots, which are outselling their stationary brethren and changing how goods are moved.

Improved vision systems, batteries and AI chips have led to robots that can handle the randomness of the real world.

Also hastening the transition: supply chain risks, labor shortages and ecommerce growth.

Recommended Reads

As the United States and others shun Russian oil, the global oil market faces its greatest upheaval in over half a century. [The New York Times]

How scientists are creating lab-grown versions of tumors isolated from patients to test cancer drugs. [Wired]

David Solomon has spent the last three years building up Goldman Sach's consumer and wealth management businesses—but the bank still can't shake its high-finance reputation. [Institutional Investor]

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Quick Takes


	The Daily Benchmark
	2014 Vintage Global VC Funds
	VC Deals
	Acorns banks $300M Series F
	Menlo Micro locks in $150M Series C
	Branch secures $75M
	M13 leads $17M round for Milo
	Instant Teams picks up $13M Series A
	Investors
	AngelList hits $4B valuation with Tiger Global-led round

The Daily Benchmark

2014 Vintage Global VC Funds

Median IRR

25.50%

Top Quartile IRR

31.15%

2.64x

Median TVPI

Select top performers

CRCM Opportunity Fund

4BIO Ventures I

DCM VII

*IRR: net of fees

62 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Acorns banks $300M Series F

Acorns, the creator of an app that invests spare change into professionally managed portfolios, has raised a $300 million Series F led by TPG. The company is now said to be valued at nearly $2 billion.

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View 33 competitors »

Menlo Micro locks in $150M Series C

Menlo Microsystems has raised $150 million in a round co-led by Vertical Venture Partners and Future Shape. The Irvine, Calif.-based company is a developer of electronic switches designed for use in power grids, smart buildings, factories and more.

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View 9 competitors »

Branch secures $75M

Branch has raised $75 million in a Series C led by Addition. The Minneapolis-based company is the developer of a workforce payments and expense management platform.

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View 38 competitors »

M13 leads $17M round for Milo

Milo has raised a $17 million Series A led by M13. The Miami-based company is a developer of financial products designed to manage crypto-based mortgages and other transactions.

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View 2 competitors »

Instant Teams picks up $13M Series A

Tiger Global has led a $13 million round for Instant Teams, the developer of an HR tech platform designed to hire and manage remote teams. Founded in 2016, the Delaware-based company counts Amazon and Walmart as customers.

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View similar company »

Investors

AngelList hits $4B valuation with Tiger Global-led round

AngelList has raised $100 million in a round led by Tiger Global. The capital gives the venture crowdfunding platform provider a pre-money valuation of $4 billion.

View details

View 707 investments »