Market Insights

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.

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.

This analyst note examines OpenAI’s IPO delay as a valuation signal, and its implications for Anthropic’s IPO timing and the broader AI IPO pipeline.

The Q2 2026 US PE Middle Market Report offers a data-driven review of the key trends shaping PE investment in the US middle market.

The H1 2026 MENA Private Capital Breakdown examines the region’s PE and VC markets and analyzes recent events’ impacts on these spaces.

This analyst note initiates coverage of Databricks, assessing its AI business quality, financial forecasts, and valuation to determine whether its $190 billion price leaves room for investor returns.

In 2026 YTD, $86 billion has been deployed across 4,864 early-stage VC deals. Multistage fund participation at Series A hit record highs by count and value, reshaping who gets funded in this barbell market.

The Global CLO Weekly Wrap combines breaking commentary with the latest CLO and loan data for the US and European markets. Data includes individual deal details as well as broad market volume and spreads, divided by coupon, deal type and ratings. All charts and underlying data are provided in a corresponding data pack.

The European Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include counts and estimated volume, spread distribution and leverage.

The Q2 2026 Construction & Engineering Report provides in-depth analysis of industry trends and evolving PE investment strategies, including deals data and maps of key PE-backed companies and investors.

The Q2 2026 Aerospace & Defense Report provides in-depth analysis of industry trends and evolving PE investment strategies, including deals data and maps of key PE-backed companies and investors.

The 2026 Climate Tech Funds Report offers a comprehensive guide to climate tech specialist managers across venture capital.

The Q2 2026 Chips & Datacenters Report provides an analysis of recent VC activity and includes a link to our proprietary market map of leading VC-backed companies in the space.

The Private Capital Return Barometers provide a data-driven, factor-based assessment of US private market fund performance, offering timely estimates of quarterly returns and insights into market conditions across asset classes.

The Q3 2026 Quantitative Perspectives: US Market Insights report examines how private capital markets are navigating macro volatility and persistent liquidity constraints.

This analyst note assesses Anthropic’s business quality, revenue outlook, and compute strategy ahead of its S-1 filing to evaluate whether its reported $2 trillion valuation is justified.

This analyst note examines why Europe has yet to produce a $1 trillion company, exploring the structural barriers to scale and forecasting when the continent’s top contenders could reach that milestone.

The Q2 2026 European VC Valuations Report delves into the sizes and valuations of European venture deals.

This analyst note examines Europe’s IPO recovery in 2026, noting favorable market conditions alongside a shrinking pipeline of high-quality listing candidates.

This analyst note explores why most of the over 24,000 APAC companies funded during the 2020 to 2021 VC boom remain active and private—but stuck. We track the boom-era cohort through the market reset.

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.

‘The easy part might be deploying the money. The hard part is securing an exit,’ said global co-head of private equity Michael Bruun on the close of the firm’s ninth flagship fund.

Deals between $25 million and $100 million increased in value by 70% in Q2, while activity in every other size bucket contracted or stalled.

Warburg Pincus announced in July that it was acquiring a controlling interest in PANTHERx from Nautic Partners, General Atlantic and The Vistria Group.

The firm said the main challenge for the industry currently is a lack of M&A.

The data and AI company is one of the world’s strongest private companies, but unattractive at the current price.

A few startups are dominating legal tech funding as they seek a defense against frontier labs.

Fundraising is on pace to decline for the fifth consecutive year, with private credit the sole bright spot, PitchBook data shows.

Ken S. Park joins from HIG Capital, where he led the PE firm’s Asia fundraising operation across PE, credit, real estate and infrastructure.

Survey finds 64% favor co-investment or directs as PE’s top capital raiser, versus 20% for primary funds

AI’s energy needs are a potential tailwind for specialist funds in the sector.