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The Daily Pitch: VC

April 1, 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:

Chief, a private network that supports and connects women executives, has reached a unicorn valuation with its latest funding round.

London-based G Square Healthcare Private Equity has collected more than $550 million for a continuation fund that will extend its hold on three portfolio companies.

Our 2021 Annual Fintech Report explores emerging opportunities in market segments ranging from consumer finance to digital assets and alternative lending.

Today's Top Stories

Chief, a network for women executives, hits unicorn status

(Ponomariova_Maria/Getty Images)

Chief, a private network that supports and connects women executives, has raised a $100 million Series B at a valuation of $1.1 billion.

For Chief co-founders Carolyn Childers and Lindsay Kaplan, the idea for the company came from a personal place.

"We were getting more senior in our careers and spending all of our time managing our teams, but no longer really had a community for ourselves. They say that it's lonely at the top, but it gets lonely at the top a lot earlier for women," Childers told PitchBook.

Recommended Reads

As hospital companies post record profits during the pandemic, patients and providers are concerned that financial returns and quality care are two very different things. [Fortune]

As COVID-19 restrictions end, offices are encountering a sick-pay problem. [Wired]

One shipping container headed from a factory in China to a warehouse in the US tells the story of what happens when globalization breaks down. [The New York Times]

Since yesterday, the PitchBook Platform added:

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Funds

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Quick Takes


	The Daily Benchmark
	2015 Vintage Global VC Funds
	A message from Upwork
	Accelerate growth through talent transformation
	VC Deals
	LayerZero Labs lands $135M
	Docker collects $105M Series C
	Black Crow AI raises $25M
	Manifest Climate secures new funding
	Spark Capital leads $20M round for VideaHealth
	Investors
	Masayoshi Son calls to slow investments, raise cash

The Daily Benchmark

2015 Vintage Global VC Funds

Median IRR

25.50%

Top Quartile IRR

34.10%

2.15x

Median TVPI

Select top performers

Index Ventures Growth III

Trinity Ventures XII

Summit Partners Venture Capital Fund IV

*IRR: net of fees

63 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

A message from Upwork

Accelerate growth through talent transformation

On this season of the In Visible Capital podcast, Upwork has partnered with PitchBook to highlight the latest innovations driving growth for private equity and portfolio companies.

Hear industry leaders discuss how cloud-based solutions like tech clouds and talent clouds help get to market faster, how strong practices of ESG can attract top talent, and how flexible workforce models produce impactful results. Because without the right team to execute, the strategy only gets you so far.

Listen to Upwork's segments on innovation in private equity at upwork.com/pitchbook.

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VC Deals

LayerZero Labs lands $135M

LayerZero Labs has been valued at $1 billion after raising $135 million in a round co-led by Andreessen Horowitz, FTX Ventures and Sequoia. Based in Vancouver, British Columbia, the company offers an omnichain interoperability protocol that allows decentralized apps to build across multiple blockchains.

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Docker collects $105M Series C

Docker has raised $105 million in a round led by Bain Capital Ventures. The Palo Alto-based business offers a platform to help developers build, share and run applications. The funding values the company at $2.1 billion.

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Black Crow AI raises $25M

Black Crow AI has raised a $25 million Series A led by Imaginary Ventures. The New York-based company's machine learning infrastructure platform provides predictive analytics without using code.

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Manifest Climate secures new funding

Manifest Climate has raised a C$30 million (about $24 million) Series A co-led by Business Development Bank of Canada and Climate Innovation Capital. Based in Toronto, the company offers a climate intelligence platform designed to help organizations identify and manage climate risks and opportunities.

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Spark Capital leads $20M round for VideaHealth

VideaHealth has raised a $20 million Series A led by Spark Capital. Based in the Boston area, the company provides an AI-based dental platform to manage patient diagnosis and treatment.

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Investors

Masayoshi Son calls to slow investments, raise cash

SoftBank is planning to slow down investments due to the recent tech stock sell-off and China's regulatory crackdown, the Financial Times reported. The asset manager, which has seen the value of its holdings fall significantly in recent months, is considering liquidating assets to raise cash, according to the report.

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View 358 investments »