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The Latest Breaking News from PitchBook

Three charts explaining where the AI frenzy is right now

PitchBook recently released its Q3 AI and ML report.

Fortune

Insight Partners has paid out nearly $8 billion this year—but returns for its giant 2021 fund have mostly come up dry

The lack of distributions is leading to a rise in continuation funds in private equity

Fortune

For AI agent startups, deal count is up 81.4% year over year, says PitchBook

Per PitchBook, YC is the leading investor in LLM agents, by all-time number of investments. In the trailing 12 months, there have been 156 deals in the space.

Fortune

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Mobility tech deal value was up 13.9% quarter over quarter, led by autonomous driving startups, according to PitchBook

Q2 saw some green shoots for mobility tech as a sector, as VCs invested $6.7 billion in mobility tech, marking a 13.9% quarter-over-quarter increase in deal value, according to PitchBook.

Fortune

VCs invested $1.2 billion in insurtechs in Q2 2024, according to PitchBook

Today, the insurtech sector is still attracting investment, albeit pulled-back and with asterisks. In the second quarter of 2024, $1.2 billion in VC money was invested across 106 insurtech deals, a recent PitchBook report showed.

Fortune

Flat and down rounds have hit a decade high, according to new PitchBook data

PitchBook just released its quarterly U.S. Valuations Report, and its data isn’t surprising—but it is cryptic. Flat and down rounds hit a decade high, while median late-stage valuations (this year to date) are surpassing the 2021 bull market.

Fortune

AI startups raised $24 billion globally in Q2, but the question remains: Where will value in AI accrue? Here’s one VC’s (slightly) contrarian take.

PitchBook isn’t ready to call a comeback, but deal counts are looking up: In Q2 this year, U.S. VCs invested $55.6 billion in 4,226 deals, marking the highest quarterly deal count since Q2 2022. Meanwhile, AI startups raised $24 billion globally in Q2, Crunchbase says.

Fortune

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For U.S. VCs, average fund size this year hit $153.5 million. But fundraising is only going well for a select few, PitchBook data shows.

Data pretty clearly suggests that, for lots of fundraising VCs right now, it is brutal out here. But there are nuances to this, as illustrated in PitchBook’s just-published mid-year update to its 2024 U.S. Venture Capital Outlook.

Fortune

What I learned about dealmaking (and mascots) in Japan

In 2023, total VC deal activity in Japan shook out to $5.1 billion in value, across 1,213 deals, according to PitchBook.

Fortune

Economy and Society April 2, 2024: Mississippi issues cease and desist order to BlackRock, warns of potential finesEconomy and Society April 2, 2024:

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Legal tech firm Farewill sees value written down more than £50 million by shareholder Daily Mail

Legal tech firm Farewill has seen its valuation slashed by more than £50 million by one of its major shareholders, the Standard has learnt, amid growing signs European tech firms are struggling to hold on to the heady valuations they attracted during the height of the pandemic.

Evening Standard

Kiln Emerges Victorious Amid Crypto Downturn, Secures $17M Funding in 2023

According to data from PitchBook, VC investments in crypto companies witnessed a staggering 68% drop in 2023 compared to the robust figures seen in 2022.

International Business Times UK

AI is so indispensable for this profession that nearly 60% of the workers who use it say they’d rather take a 10% pay cut than go without the technology

Many market intelligence researchers have become reliant on AI to do their jobs—it could be a sign of what's to come across the economy.

Fortune

European tech valuations fall again as storm clouds gather for start-ups

Valuations of European tech firms continued to decline in the third quarter, figures out today show, as start-ups battled for survival amid weaker consumer sentiment, scant venture capital investment and slower growth.

Evening Standard

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Fortune

The new realities of venture capital, in 3 charts

PitchBook data shows that seed and pre-seed fundraising have been resilient to the downturn.

The Guardian - UK

‘It’s just a matter of time’: why AI could help Europe create its own Apple or Google

Silicon Valley overshadows its transatlantic rivals. But as artificial intelligence grows – and with a global summit on it this week – some think it could offer a Euro startup the chance to become a new Google

Fortune

The congressman investigating four VC firms with ties to China has a message: This is just the beginning

In an interview with Term Sheet, Representative Mike Gallagher said that these letters to venture capital firms were just the beginning of the Committee’s investigation.

Fortune

PitchBook has a new way to quantify how VC fund managers are performing

The private markets data provider is angling to provide more resources for LPs to rank VCs.

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Fortune

Exclusive: VSCO appoints new CEO as social media app looks to help 'creators to make some money'

President Eric Wittman will step into the top job while cofounder Joel Flory will become executive chairman for the app, famous for the "VSCO girl" trend.

Fortune

Private equity investments in professional sports teams have exploded in the past four years, per PitchBook

Sixty-two major North American sports teams, valued at $179.7 billion, have connections to PE.

Fortune

The forces driving Tiger Global’s tailspin

Tiger Global helped inflate a bubble with bold bets and massive checks. Now the firm is facing a reckoning.

Fortune

How Tiger Global fell to earth

Tiger 'cub' Chase Coleman III's firm backed the equivalent of a startup a day in 2021 at wild prices, helping inflate a venture bubble. Now the firm is facing a reckoning.

Fortune

Why Israeli VC firm Team8 is eyeing growth investing even as the downturn batters startups

Managing partner Rakefet Russak-Aminoach thinks the crop of later-stage startups that survives the downturn could be a juicy opportunity.

The Guardian - UK

Rapid grocer Getir to cut 2,500 jobs in five countries including UK

Move is latest sign of falling demand in delivery market amid cost of living crisis and since end of lockdowns

Fortune

Google’s A.I. is about to breach a new frontier: Life advice, from a chatbot

In the arms race to create hyper-specialized A.I. tools, there’s profit to be made replicating human relationships.

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