Market Insights
Robots power European construction tech surge
VC funding for the sector is on pace to top €1 billion this year.
UK Private Capital Breakdown
The 2026 UK Private Capital Breakdown examines the region’s PE and VC markets and analyzes recent events’ impacts on these spaces.
Southern Europe Private Capital Breakdown
The 2026 Southern Europe Private Capital Breakdown examines the region’s PE and VC markets and analyzes recent events’ impacts on these spaces.
APAC Private Capital Breakdown
The H1 2026 APAC Private Capital Breakdown examines the region’s PE and VC markets in Greater China, India, Japan, South Korea, Australia & New Zealand, and Southeast Asia.
Germany Market Snapshot
The Q2 2026 Germany Market Snapshot provides an overview of macroeconomic and microeconomic trends in the region spanning both private and public markets.
Australia & New Zealand Private Capital Breakdown
The 2026 Australia & New Zealand Private Capital Breakdown examines the region’s PE and VC markets and analyzes recent events’ impacts on these spaces.
LATE-STAGE COMPANY RESEARCH
Global Unicorn Tracker: The One-Horned Market
The Q2 2026 Global Unicorn Tracker provides a comprehensive analysis of VC-backed companies valued at $1 billion or more, covering deal activity, valuations, exits, and the PitchBook Business Quality framework and offering perspective on the biggest trends shaping the unicorn landscape.
Anthropic Is Winning on Value, Not Price
This analyst note argues that pricing AI models by completed tasks rather than token cost reveals a different competitive picture, with implications for buyers and providers.
SpaceX Update: What the IPO Reveals and What to Watch For Next
This analyst note concludes the SpaceX private-company series by evaluating the post-IPO valuation, introducing a management credibility ledger, and outlining key catalysts for the stock’s first 18 months.
TRENDSPOTTING
Lagging liquidity over the last five years have pushed LPs to concentrate capital into large funds and established managers. As company life cycles stretch and returns stay poor, that narrowing is expected to continue.
See more: Q2 2026 US VC Valuations Report
RESEARCH
NEWS
Private Equity
EMEA claims half of Q2’s largest logistics PE deals
Austria, South Africa, Norway, Ireland and the Netherlands accounted for five of the 10 biggest transactions.
Private equity calls the AI de-rating overdone
Thoma Bravo’s $4B insurtech take-private and reported PE talks for Workday signal continued demand for cash-flow-positive, regulated vertical SaaS.
Credit
European direct lending volume rebounds, amid support for software names
The most recent European direct lending data shows a boost in deal count and estimated volume.
Top BDC portfolios contract in Q2 as origination activity falters – LCD analysis
Ares Capital, the largest publicly traded BDC, was one of only two lenders to report a year-over-year increase in funding activity.
Technology
Shein is finally listing in Hong Kong. But has the world moved on?
The city’s IPO market is booming. Whether that lifts the Chinese fast-fashion giant remains to be seen.
Half of AI’s record $407B went to OpenAI, Anthropic in H1 2026 as mega-deals reign
VC’s concentration in AI companies is reaching a new dimension.
Allocators
You don’t need to be a big fish to co-invest
There are ways for smaller LPs to get in on the no-fee investment action.
Sponsors pushed for a bigger slice of continuation fund profits in H1
More than a third of continuation fund deals in H1 featured super carry, compared with 15% in full-year 2025, according to investment bank Evercore.
Europe
Growth strategies grab a bigger slice of shrinking UK PE fundraising
LPs have redirected capital toward growth funds this year even as overall fundraising collapsed.
Accel deepens Europe presence with $800M allocation
Funds are part of the Silicon Valley VC firm’s latest $3.5B fundraise for early-stage bets across the globe.
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