| | |  Stephen |  |
| |
 VC-backed companies generated over $840B in IPOs in 2021, making up a majority of the total $1.22T haul for all companies going public, reports PitchBook. That figure is larger than the combined IPO value generation of the last five years combined for VC-backed companies. PE-backed companies, by comparison, brought in less than $300M in exit value. More: - More than 1,000 companies entered U.S. public markets in 2021, raising a grand total of $306B, more than the last three years together.
- The price-to-earnings ratio is at its highest level in 20 years, below only the highs created during the dot-com bubble.
- In addition to traditional IPOs, 175 SPAC mergers created $63B in exit value, more than all U.S. IPOs from 2019.
- The skyrocketing numbers are related to companies staying private longer, meaning that their debut valuations are substantially higher. Top examples of this are Rivian, Roblox, and Robinhood.
| |
 Coinbase Ventures has made more than 100 investments this year, participating in deals worth $3.7B, according to Crunchbase. In the most recent quarter, it placed a bet on average every 1.8 days. More: - Shan Aggarwal, head of Coinbase’s venture and acquisition strategy, notes that many crypto companies used to face difficulties raising funds due to reports of fraud and cybersecurity issues.
- Crypto is worth $3T as an asset class today. The potential for that to grow to $10T or $20T would be a boon for his company and entrepreneurs in general.
- During Coinbase’s earlier investment strategy, it placed pre-seed and seed off the balance sheet of Coinbase. Its partners all had other functions within the company.
- Now, its core early-stage investment practice aims to be companies’ first institutional round with bets from $100,000 on the low end up to $3M.
- Coinbase now invests alongside some of the top names in the VC world.
- The majority of its portfolio companies are from North America, followed by Asia and Europe.
- It is able to leverage its team’s dedication to the sector by picking up on geographically disparate companies by targeting small teams interacting on Discord, Telegram, and even Twitter.
| |
 A message from CLEANMYMAC X CleanMyMac X - Make sure you can trust your Mac Macs are powerful and sophisticated computers. But sometimes, the number of processes and tasks we try to perform is too overwhelming, even for the best of machines. Slow performance, spinning wheels, apps crashing, or freezing are the few things you may encounter. With CleanMyMac X, you can optimize your Mac for your daily tasks and free up space for the things that matter. So what exactly is CleanMyMac X? - A Mac cleaning app - CleanMyMac X combines 49 tools to find and delete all types of system junk on your Mac.
- An optimization tool - With a number of features, CleanMyMac X helps clear memory and optimize your Mac’s performance.
- Anti-malware software - CleanMyMac X has a Malware Removal feature that helps scan your system for Mac-related threats and remove them.
CleanMyMac X is your complete Mac care package. Are you tempted to try the app? Learn More Here
| |
Best of Last Week M&A - ProEst, a cloud-based construction estimation solution, is being acquired for an undisclosed sum by Autodesk, with the transaction estimated to complete between late 2022 and early 2023.
- Spotify acquired podcast technology platform Whooshkaa for an undisclosed sum.
- South Korean media conglomerate KakaoEntertainment has acquired the Asian fantasy fiction platform Wuxiaworld for its fiction app subsidiary Radish. The deal was worth $37.5M.
- Bangalore-based Open, a business-focused neobanking platform, acquired neobanking startup Finin for $10M.
- Harry’s Labs, the incubator started by razor brand Harry’s, will acquire D2C deodorant brand Lumē for an undisclosed sum.
- Israel-based data analytics platform SQream announced the acquisition of no-code data platform Panoply for an undisclosed sum.
- Nike has acquired the NFT studio RTFKT for undisclosed terms.
IPO - IoT company Samsara saw its stock close up 7.4% during its IPO. The company raised $805M with a share price of $23 and is now valued at $12B.
- Reddit announced the confidential filing for an IPO.
- TPG, the Texas-based private equity group, has filed for an IPO with the SEC.
- SenseTime has postponed its Hong Kong following the U.S. blacklisting investors from participating in the $767M offering.
SPACs - Waste and recycling platform Rubicon Technologies will merge with Founder SPAC to go public at a valuation of $2B. The deal will bring Rubicon $431M between PIPE and funds from the SPAC.
- India’s Byju’s, the country’s most valuable startup and provider of an edtech platform, is reportedly considering merging with a blank check company led by Churchill Capital. The startup is looking for a $45B valuation.
- Footprint, producer of a plant-based plastic replacement, will merge with Gores Holdings VIII at a $1.6B valuation and raise $805M in gross proceeds.
New Funds - Norwest Venture Partners closed a $3B new fund to double down on its growth equity strategy. The new fund is the firm’s 16th and largest to date and makes up about 25% of its AUM.
- Women-led VC firm Anthemis raised another $700M to invest in embedded finance startups. The strategy will involve both startup investments and a SPAC.
- Initialized Capital Management has raised $700M and will launch two new funds.
- Pelion Partners closed its seventh fund with $365M to invest in early-stage B2B SaaS, fintech, marketplaces, cloud computing, and security.
- Novalis Life Sciences raised $300M for its second fund. It will invest in 10 to 15 companies.
- Apollo Health Ventures closed its second fund with $180M for biotech companies.
- Solana Ventures has partnered with Forte and Griffin Gaming to launch a $150M web3 gaming fund.
- Eir Ventures, based in Stockholm/Copenhagen, closed its maiden fund to invest in biotech companies: $138M.
- Athens/London-based VentureFriends raised a $112M third fund to invest in early-stage consumer, proptech, fintech, marketplaces, and SaaS startups.
- Canadian VC firm Whitecap Ventures closed a fifth flagship fund for early-stage startups with $110M (CAD$140M).
- Alitheia IDF, a women-focused private equity fund in Africa, raised $100M to invest in gender-diverse businesses.
- Kraken Ventures has raised $65M for an early-stage fund that will invest in crypto, fintech, and emerging technology startups.
- Ventures Platform raised its first $40M Pan-African fund.
- Jeff Morris Jr.’s Chapter One closed a $40M early-stage crypto fund.
- Script Capital (fka 122West Ventures) closed its second pre-seed fund at $38M.
- Antler closed a new U.K. fund at $28.3M.
| |
 Today's Funding 💸 AR/VR - ManageXR (San Francisco, Calif.), enterprise device management platform designed for VR and AR devices: $4M led by Rally Ventures.
Biotech/Health - Restore Hyper Wellness (Austin, Texas), health and wellness solutions: $140M led by General Atlantic, participation from Level 5 Capital Partners.
- Well (Chapel Hill, N.C.), health improvement platform using behavioral economic techniques: $70M B led by Valeas Capital Partners.
Blockchain - Lucy Labs (New York, N.Y.), cryptocurrency asset management company: $3M led by DeepWork Capital, participation from Cogent Bancorp, et al.
Consumer - Cars24 (India), app and website for selling used cars and motorbikes: $400M F led by Alpha Wave Global, participation from DST Global, SoftBank Vision Fund 2, Alibaba, Tencent, Moore Strategic Ventures, et al.
- Kurly (South Korea), online grocery startup: $210M Pre-IPO from Anchor Equity Partners. The company is seeking a domestic IPO and gained a $3.3B valuation.
- HungryPanda (London, U.K.), global Asian food delivery platform: $130M D led by Perwyn, participation from Kinnevik, 83North, Felix Capital, Piton Capital, Vintage, Burda Principal Investments, Kreos Capital.
- Playtomic (Madrid, Spain), tennis and padel social and booking app: $63.1M from Claret Capital Partners, Optimizer Invest, et al.
Enterprise - Lepaya (Amsterdam, Netherlands), power skills training provider: $40M B led by Target Global, participation from Noor van Boven, Anna Brandt, Chris Zadeh, et al.
Femtech - Flourish (Austin, Texas), female-focused nutrition and health platform: $1M Pre-Seed led by True Wealth Ventures.
Fintech - Razorpay (Bengaluru, India), payments processing: $375M from Lone Pine Capital, Alkeon Capital, TCV, et al.
- Fuzey (London, U.K.), platform that centralizes small businesses' communications, payments: $4.5M Seed led by byFounders, participation from Flash Ventures, et al.
Foodtech Greentech - Full Harvest (San Francisco, Calif.), food distribution platform to reduce waste: $23M led by Telus Ventures, participation from Rethink Impact, Citi Impact, Doon Capital, Stardust Equity, Portfolia Food & AgTech Fund, et al.
Proptech - Cove.tool (Atlanta, Ga.), sustainable building platform: $30M led by Coatue, participation from FootPrint Coalition, Mucker Capital, Urban Us, Knoll Ventures.
Transportation - Vay (Hamburg, Germany), self-driving car services using teledrive: $95M from Kinnevik, Coatue, Eurazeo, et al.
- Metro Africa Xpress (Nigeria), motorcycles delivery, ride-hailing, and vehicle subscription: $31M led by Lightrock.
Did you enjoy reading about all of today's funding in one place? The funding roundup is only available to free users on Mondays and Fridays. Upgrade to Inside VC Premium for either $10/month, or $100 billed annually, to receive the full list in every issue! For a limited time, we are offering a 14-day free trial. Click here to sign up! | | | |
 A message from DELL Wherever your business journey takes you – we'll be there with you. From PCs to secure datacenter systems, cloud solutions, services and beyond, our experts stop at nothing to get you the right tech your business needs to grow. Why Dell for Entrepreneurs - Dedicated Partnership- With one-on-one dedicated support, you can conveniently call, talk or chat with your advisor directly.
- Tailored Solutions- We are your one-stop shop for all your technology needs. Whether it's storage, laptops, datacenter or the cloud, we offer tailored product solutions designed to keep your business productive.
- Reliable Advice- With over 30 years of experience helping small businesses succeed and 160+ hours of training, we offer technology advice that you can trust.
Call and speak to an advisor today, 844.996.2142 Meet an advisor now
| |
Quick Hits - Trust is the community-powered corporate card. Learn from each other’s spending patterns, get trusted advice, and increase your buyer. 100% free.*
- SenseTime has relaunched its Hong Kong IPO despite the U.S. investment ban. It is targeting a $767M gross funding intake.
- Atos, a French tech corporation, acquired a British multi-cloud services company specializing in cloud application development, Cloudreach, and cloud/Salesforce management consulting company AppCentrica.
- Z Fellows launched a week-long crypto accelerator with a $10,000 equity option at a $1B cap.
- Spend less time fundraising and more time building your business. Apply now to get started.*
*This is a sponsored post.
| |
Upcoming events at Inside: - December 21 - Growth in Crypto Security with AJ Yawn (ByteChek) (Register Here)
- December 29 - Need to Know NoCoder - David Siegel (CEO - Glide) (Register Here)
- January 04 - Venturing in VC with Landon Campbell (Episode #1) (Register Here)
- January 06 - Augmented and Virtual Reality with Timoni West (VP of AR/VR at Unity) (Register Here)
- January 11 - The Business of Interactive Gambling with Jon Kaplowitz (Penn) (Register Here)
- January 25 - Need To Know NoCoder - Leon Young (Cogniss) (Register Here)
- January 27 - Understanding the Metaverse (Register Here)
- February 03 - Blockchain Gaming & Play-to-Earn Economies (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Customer Acquisition in a post iOS 14 world (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 03 - The $12B Appetite for Amazon Aggregators (Register Here)
| |
 |  | Inside VC's writer/curator Stephen currently lives in Berlin and is pursuing a Master's degree in philosophy. He otherwise spends his time trying his hand at recipes from India and Southeast Asia, escaping it all at the kickboxing gym, and offending aural sensibilities with his band. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
| |
| |
Comments
Post a Comment