Valuations and Deal Size Keep Dropping

February 13, 2024

In recent years, the private equity (PE) and venture capital (VC) markets have held up relatively well. When interest rates began to rise in March 2022, some observers suggested that the PE and VC markets were in for a world of hurt. Although cracks have appeared through the past three years, the cracks have been […]

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Fintech Activity is Slowing Quickly

January 30, 2024

In 2023, fintech venture capital (VC) came in at $34.6 billion. According to venture capital and private equity data provider Pitchbook, that represented a year-over-year decline of 43.8%. Interestingly given the common view that fintech his generally focused on the consumer, about 72% of the total fintech VC dollars went to business-to-business applications, a sharp […]

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Looking at the Updated Performance Benchmarks

January 16, 2024

Every quarter private equity data provider Pitchbook releases their accounting of the private equity benchmarks. Here’s a look. Private Capital Horizon IRRs The first look is of private capital horizon internal rates of return (IRRs). The first column from the left is the horizon IRRs for the third quarter of 2023. On top of the […]

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Looking at Europe’s Top 10 Venture Deals in 2023

January 2, 2024

Private equity data provider Pitchbook recently released their take on the top 10 venture deals of 2023 for Europe. The fascinating look is worth a read. Number 10 Coming in at number 10 is Butternut Box. The London-based dog food company raised a whopping £280 million in October, valuing the company at over £500 million. […]

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The 2024 U.S. Deals Outlook

December 19, 2023

Fairly well-known economist John Kenneth Galbraith once quipped: “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.” With that acknowledged, PriceWaterhouseCoopers (PwC) recently released their 2024 deals outlook, and it has some interesting takes. Here’s a review. Median Enterprise Value/Revenue The first view from PwC is […]

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Venture Capital Outlook 2024: Navigating an Odd Landscape

December 5, 2023

The venture capital (VC) landscape has always been a playground for risk, driving the economy’s most transformative ideas from conception to reality. As we step into 2024, this ecosystem is poised for another interesting chapter, teeming with potential for a boom or a bust and marked by distinct trends and shifts. What VC Professionals Think […]

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Summing Up the VC Market in Four Charts

November 21, 2023

As we approach the end of a surprisingly resilient year, we think it’s a good idea to look at where we’ve been and where we stand on the venture capital (VC) front. Here’s that look in four charts, according to private equity data provider Pitchbook. Median US VC Seed Pre-Money Valuations The first look below […]

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The Labor Market is Weakening

November 7, 2023

Of all the financial information released this past week around the world, perhaps the most important was the state of the U.S. labor market. Although still growing, the picture is getting weaker. Here’s a view of the American labor market in five charts. Labor Force Participation Rate The first view is the U.S. Labor Force […]

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An Update on Generative AI Dealmaking

October 24, 2023

One of the hottest terms in the investing world today is generative artificial intelligence, sometimes shortened as Gen AI. Given the interest from the VC and PE world, here’s a look at private equity data provider Pitchbook’s take on the state of Gen AI investing. The Overall Picture The following figure has an overall look […]

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A Snapshot of Global Markets

October 10, 2023

A Snapshot of Global Markets Economic conditions have generally turned out better than what most economists had expected heading into 2023. As we enter the last quarter of the year, what does the global private equity market look like? Here’s a look, according to a recent note out of private equity data provider Pitchbook. Add-ons […]

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