Why does a 177-year-old department store need PitchBook? Even industry giants have room to grow. Listed on the Mexican Stock Exchange (BMV: LIVERPOL), El Puerto de Liverpool operates two large department stores in Mexico—Liverpool and Suburbia—with a total of 311 locations. Its retail portfolio also includes 116 other stores and 28 shopping malls. In October 2021, the company’s board members decided to take a new step in expanding their already booming portfolio—opening a corporate venture capital (CVC) fund.
For Erik Carlberg Smith, Investment Manager at El Puerto de Liverpool’s CVC fund Liverpool Ventures, heading up this initiative was no simple task. With $40 million and a mandate to search for and invest in early-stage frontier tech that could potentially improve the Liverpool customer’s experience, he knew he needed a data solution that was complete, comprehensive, and easy-to-use. His research led him to PitchBook. “The first thing for me was, alright, what are going to be my tools, and who am I going to lean on to be able to pull this off?” says Carlberg Smith.
With PitchBook, Carlberg Smith and his colleagues can remove roadblocks, overcome challenges, and strategize for the long-term success of Liverpool Ventures. Read on as we dive into some of his most utilized PitchBook tools and how they support his team’s corporate development initiatives.
A wealth of information
When sourcing strong investment opportunities, corporate strategy and development teams require in-depth insight into the flow of capital across the entire venture capital, private equity, and M&A ecosystem. Liverpool Ventures is no exception.
The PitchBook Platform provides the fund with detailed data on both the private and public markets, including key information on companies, investors, investments, funds, exits, and people. According to Carlberg Smith, insights this comprehensive are difficult to come by: “It’s hard to find quality information on emerging spaces and mature markets, both public and private, in one single product.”
“The quality and richness of the data that PitchBook has is really refreshing.” |
With the breadth and depth of PitchBook data, he and his team have the best of both worlds—a complete view of all public and private investment landscapes in one easy-to-use product, bringing clarity to traditionally opaque datasets.
Market intelligence simplified
For Carlberg Smith and his team, market intelligence is key to success, and having access to a deep well of accessible and downloadable data certainly eases their workflow. When working with his company’s account manager, it is important to be able to find the most relevant transactions at a quick glance. Together, they set up workspaces to make that possible. “My workspaces help me understand where our company stands, and how the different business units are doing compared to other market players.”
He acknowledges that his account manager has been key to developing these streamlined workflows and values the customer support he receives from PitchBook. “Having this rich information set is great, but if you’re not able to use it right, it’s not as helpful. That’s what has added the most value for me—being able to have sessions about how I’m going to be using the tools, and setting them up so I have a framework,” he shares.
From his workspaces, Carlberg Smith also looks at emerging markets and technologies within the VC landscape, looking for investment opportunities for the fund and important trends. All this information pieced together helps inform his team’s CVC investment strategies, providing the reliable data it needs to make the right deals for its business development goals.
On-demand access to experts
Before deciding on a PitchBook subscription, Erik thought the platform began and ended with great data. Now, one of his favorite PitchBook tools is one he didn’t even know existed—access to our analysts. Included in every PitchBook subscription, access to analysts puts clients in direct communication with our expert research team. For Carlberg Smith, this access makes all the difference when it comes to applying research to real life.
“There’s the frontier tech that goes into the development of infrastructure technology for companies, and then there’s the application of those technologies. For us, when we’re looking at technology developed for a specific use case in our region, it’s very helpful to be able to reach out to the analyst and pick his brain,” he says of the offering.
He often relies on analysts to learn more about not just a specific technology that PitchBook is reporting on, but how that specific technology could be implemented in their own region, and how to build a successful business model around it. “I want to know what the traps are that other companies have fallen into, what are the trends, and who are the relevant players.”
With direct access to the PitchBook analysts, Carlberg Smith and his team can find those details fast.
An all-in-one tool for the entire team
Taking on a $40 million fund was a big step, and Liverpool Ventures knew its success would depend on using the right tools and the most accurate information available. When Liverpool Ventures signed on with PitchBook, Carlberg Smith found exactly what he was looking for—as did other colleagues at almost every level of the business.
Liverpool Ventures’ success relies on a combination of mature market data, hard-to-find private company information, and through reporting on global emerging technologies. Carlberg Smith quickly discovered that the PitchBook Platform was a one-stop-shop for the data and insights he required, solving pain points that other competing data providers simply couldn’t.
“I am such a fan of PitchBook that the first thing I try to do is get the leadership involved in using this tool.” |
No matter the role his colleagues occupy, they each find unique value in the platform’s offerings. From market reports and outlooks to emerging spaces and trends, PitchBook’s myriad tools empower every member of the Liverpool Ventures team to make Mexico’s largest department store chain even larger.
“We have licenses for the CTO, the CFO, the CIO, and the transformation officer. The whole company is using it, and they’re all super happy.” |
