News & Analysis

driven by the PitchBook Platform

Ex-Thrive Capital partner targets $30M seed fund

Gaurav Ahuja, who led the firm’s early investments in Parafin, Dutchie and Stytch, is in talks to raise his debut vehicle.

Private Credit 101: High rates, scarce exits prompt inclusion of equity warrants

Although warrants have featured in deals for decades, they are by no means common in private credit transactions.

Liquidity hunt drives record high in secondary market deal value in 1H 2024

The total value of secondary deals spiked to a $68 billion in 1H 2024, up 58% from the same period last year

European PE fundraising defies tough deal market

Total fundraising for European private equity is strong despite longer time lines.

European Leveraged Finance Survey: Loan market to strengthen; M&A on the way

Leveraged finance professionals are mostly optimistic about Europe’s broadly syndicated loan market, according to LCD’s latest survey.

Blackstone hooks Japan’s wealthy in $1.2B PE raise

Blackstone has put the spotlight on opportunities in Japan as it manages to raise $1.2 billion in capital for its inaugural retail fund in the region.
LPs

CalPERS’ climate-crisis pitch deck

LPs in states with anti-ESG policies don’t want to miss out on the upside. Instead, they’re ‘greenhushing’

AI-powered legal-tech startups cut the hype, gain more traction

Investors are rewarding law-focused AI companies like Harvey and Clio with rich new valuations as founders take a more measured approach to the technology’s potential.

LBO update: High demand signals dealmaking potential

Private equity sponsors tapped $36 billion of funding for LBO transactions in the syndicated loan market in Q2.

Ex-Tesla Bot head raises $78M for Mytra as AI robotics heats up

VCs are eyeing opportunities for AI-enabled robotics technology in warehouses and logistics.

The Daily Benchmark




2014 Vintage Global Funds-of-Funds

Median IRR

20.53%

Top Quartile IRR

23.59%

1.50

Median DPI

Select top performers

Union Grove Partners Direct Venture Fund

Union Grove Partners Venture Access Fund

Spectra Private Equity II

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Data & Tools

SoftBank Vision Fund Dashboard

The PitchBook VC Dealmaking Indicator leverages deal-level data to quantify how startup friendly or investor friendly the capital raising environment is. The Indicator incorporates PitchBook’s deal term, deal attribute, fundraising, and deal flow data to compose an indicator which compares early-stage and late-stage deal activity.

US PE earnings dashboard

The PitchBook VC Dealmaking Indicator leverages deal-level data to quantify how startup friendly or investor friendly the capital raising environment is. The Indicator incorporates PitchBook’s deal term, deal attribute, fundraising, and deal flow data to compose an indicator which compares early-stage and late-stage deal activity.

US VC female founders dashboard

Our interactive dashboard dives into US investment trends for women in VC since the start of 2008, using data sourced from the PitchBook Platform. Users can filter the data to isolate specific trends.

Credit

Private credit defaults rise to 2.71% in Q2 – Proskauer

Companies with $50 million or more in EBITDA saw the steepest increase in defaults, from 1.5% in Q1 to 2.8% in Q2.

Blackstone sees strong Q2 originations, private credit returns

Origination volume included the largest debt financing package inked in the firm’s history.

Varsity Brands lines up $2.38B leveraged loan to back buyout by KKR

Proceeds will be used to help fund the $4.75 billion purchase price.
M&A

European LBO activity ramps up, led by secondary buyouts

Total LBO deal volume for the 12 months to June 30 was €14.8 billion, surpassing the full-year 2023 tally.

Industry & Tech

Market Map: Meet the startups tackling insurance paperwork

Investors are looking for a path forward as VC dealmaking within insurtech has been declining after profound growth the past five years.

3 charts: Tough times for VC newcomers as larger funds dominate

While 2024 has been a difficult year for VC fundraising, emerging managers are bearing the brunt of the pain as larger, more high-profile firms assert their dominance

LPs bet on climate VC funds in energy transition

Climate-dedicated venture vehicles now comprise around 3% of all VC funds.