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The Daily Pitch: VC

March 30, 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:

Austin's Next Coast Ventures has locked down $310 million in new funding as the region continues to emerge as a red-hot VC hub.

Our recent analyst note on private manager style explores whether industry specialization provides an advantage for VC fund performance.

The blockchain-based game "Axie Infinity" has suffered a major hack less than a year after its parent company was reportedly valued at $3 billion in an Andreessen Horowitz-led round.

Today's Top Stories

Hamilton Lane token will give individual investors access to private fund

ADDX CEO Oi-Yee Choo (Courtesy of ADDX)

In a first for Hamilton Lane, the asset manager is making its Global Private Assets Fund available to individual investors by tokenizing part of the $1.85 billion fund-of-funds via a partnership with private markets exchange ADDX.

The firm is the latest asset manager to use intermediaries to expand access to high net worth individuals and accredited investors.

Recommended Reads

On top of paying management fees and forfeiting a share of the profit, institutional investors agree to cover funds' business expenses. But it's proving difficult to determine how those dollars are spent. [Bloomberg]

How researchers are bringing AI-driven tools like social robots to the classroom to help students with disabilities. [The New York Times]

Allocators are investing like a recession is on the way, despite the Fed's promise of a soft landing. [Institutional Investor]

Since yesterday, the PitchBook Platform added:

23

VC valuations

1678

People

479

Companies

37

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2016 Vintage Global Real Estate Funds
	VC Deals
	Edtech startup Classplus books $70M
	HackerRank raises $60M Series D
	Cyera picks up $60M
	LambdaTest brings in $45M
	Kaiyo lands $36M Series D
	Kooply scoops up $18M seed round

The Daily Benchmark

2016 Vintage Global Real Estate Funds

Median IRR

10.50%

Top Quartile IRR

15.22%

1.28x

Median TVPI

Select top performers

ElmTree US Net Lease Fund III

Blackstone Edison Managed Partners

Bensell Host US Fund

*IRR: net of fees

70 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Edtech startup Classplus books $70M

Classplus has raised $70 million in a round co-led by Alpha Wave Global and Tiger Global, according to reports. The Indian edtech startup helps educators and content creators build and sell online courses.

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View 50 competitors »

HackerRank raises $60M Series D

HackerRank, the creator of a recruitment platform that helps organizations hire software developers, has raised $60 million in a round led by Susquehanna Growth Equity. The California-based company plans to use the funds in part to expand its platform to support screening and interviewing for technical skills in emerging areas such as machine learning, blockchain and crypto.

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View 33 competitors »

Cyera picks up $60M

Cyera has raised $60 million in a round led by Sequoia, Accel and Cyberstarts. The Tel Aviv-based company is the developer of a cloud data security platform.

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View similar company »

LambdaTest brings in $45M

LambdaTest has raised $45 million in a round led by Premji Invest, with support from investors including Sequoia India. Based in the Bay Area, the company offers a cloud-based orchestration platform designed to help companies test their apps and websites across different platforms.

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View 22 competitors »

Kaiyo lands $36M Series D

Kaiyo has raised $36 million in a debt and equity round led by Edison Partners. The New York-based company runs an online marketplace for used furniture.

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View 1 competitors »

Kooply scoops up $18M seed round

Kooply has raised $18 million in seed financing co-led by TPY Capital and Microsoft's venture fund, M12. Based in Tel Aviv, the company's mobile gaming platform is designed to help creators build new games.

View details

View 136 investments »

PitchBook has partnered with SXSW to celebrate Women's History Month by adding limited-time features to our female founder dashboard.

We sponsored the Funding and Investors Summit at SXSW, home to the early-stage VC competition SXSW Pitch, and data about female founders from SXSW Pitch is now incorporated into the dashboard.