Global Markets Snapshot: Most equities bounce back

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The Daily Pitch: VC

April 4, 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 Global Markets Snapshot breaks down a month of private markets activity and trends in equity, debt and commodities.

ADDX CEO Oi-Yee Choo discusses why funds are turning to distributed ledger technology and what it could mean for the private markets.

Investors say that spinout founders need to own more equity in order to reach unicorn success.

Today's Top Stories

Global Markets Snapshot: Most equities rebound despite rising rates, inflation

The public markets' wild ride in 2022 has continued, with most equities rebounding from near-term troughs in March. That comes despite increased central bank hawkishness, persistent inflation, rising interest rates, war in Eastern Europe and supply chain disruptions.

PitchBook's Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also includes private markets activity, including major deals, IPO performance and unicorn creation by region.

In this monthly digest, we provide the datasets that PitchBook's research team is keeping an eye on as financial markets continue to seesaw. Originally an internal report, we have made the Snapshot available to all our readers to provide more insight into how our team analyzes private markets with the macro environment in mind.

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Q&A: ADDX looks to PE's future with blockchain tech

(tampatra/Getty Images)

Could blockchain be the technology that eventually opens up the private markets to the masses?

Singapore-based private market exchange ADDX has set about working with managers to tokenize funds as a means of attracting accredited investors to alternative assets—the platform is still in its early days but has the potential to disrupt the asset class.

PitchBook interviewed ADDX's recently appointed CEO, Oi-Yee Choo, a former head of investment banking for UBS in Singapore, to understand why funds are turning to distributed ledger technology and what it could mean for the PE industry as a whole.

Recommended Reads

Amid supply chain disruptions, Mexican factories are gaining ground over historic manufacturing giants like China. [The Wall Street Journal]

Can Norway's $1.3 trillion oil fund actually give up oil? [Institutional Investor]

A look at how Andy Jassy has reshaped Amazon's power structure in the nine months since he became president and CEO. [The Information]

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Quick Takes


	The Daily Benchmark
	2017 Vintage Global Funds-of-Funds
	VC Deals
	Fractal raises $35M
	Fintech startup Leal secures $10M
	Tru.ID brings in $9M
	Fundraising
	Bond Capital raises $2.5B fund

The Daily Benchmark

2017 Vintage Global Funds-of-Funds

Median IRR

25.94%

Top Quartile IRR

35.68%

1.67x

Median TVPI

Select top performers

Top Tier Venture Capital VIII

Raspberry Street Fund II

Hamilton Lane Venture Capital Fund (Series 2017)

*IRR: net of fees

33 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Fractal raises $35M

Fractal has raised $35 million in seed financing co-led by Paradigm and Multicoin Capital. The company offers an online marketplace for gaming NFTs.

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Fintech startup Leal secures $10M

Leal has raised a $10 million Series A co-led by Rakuten Capital and IDC Ventures. Based in Bogota, Colombia, Leal is a provider of cash-back and rewards products to help merchants engage with customers.

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Tru.ID brings in $9M

Tru.ID has raised $9 million in seed financing co-led by Sorenson Ventures, Episode 1 Ventures, MMC Ventures and NHN Ventures. The company offers a passwordless authentication platform to combat cybercrime.

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Fundraising

Bond Capital raises $2.5B fund

San Francisco-based Bond Capital has raised $2.5 billion for its third flagship fund, Axios reported. The growth equity firm was co-founded by Mary Meeker in 2018.

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View 52 investments »