 While non-traditional investors continued participating in an ever-increasing number of funding rounds in Q1’22, the total value of their deals fell sharply. According to PitchBook, the estimated number of U.S. funding rounds with non-traditional involvement topped 1,800 for the first time last quarter, with a total deal value of just over $50B. More: - While asset managers (Tiger Global, T. Rowe Price, Coatue, etc.) made headlines in 2021 by participating in 10.7% of U.S. VC deals with 43% of deal value, those figures in Q1’22 switched to 11% and 35%, respectively.
- The analysts expect these types of firms to reduce their total investment sums substantially, but not their diesel counts, assuming that a stagflation recession is avoided.
- Corporate VCs, which had historically participated in roughly a quarter of all completed deals, are expected to mirror the market at large in terms of their pullback.
- Most CVC rounds occur at the seed and early stages, and their slowdown has already been noticed: Q1’22 saw only 164 seed rounds with CVC participation, as opposed to 664 for 2021.
- At the early stage, those figures are 204 and 1,136, respectively.
- Given CVCs’ pullback in 2008-2009 (27.6% YoY), one could expect roughly 2,500 CVC deals in 2022, a sharp decline from almost 3,500 in 2021.
- Given that they participate in 57% of total U.S. VC deal value, the biggest concern for (particularly late-stage) startups is a pullback from PE investors.
- They were largely responsible for the astounding 850 VC mega-deals completed in 2021, along with the 185 in Q1 2022.
- At the same time, PE outfits are sitting on $1.2T in dry powder, meaning they could snag larger stakes in companies following a serious valuation correction.
The wider lens: - Over 4,400 unique non-traditional investors made at least one deal in 2021, 33.4% higher than the previous record from 2020.
- Prior to the 2008-2009 financial crisis, there were only 1,300 active.
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Indonesian hyperlocal social commerce startup Super has raised another $70M. The Series C round brought the 2018-founded company’s total raised to date to $106M and follows just a year after a $28M Series B round in April 2021. More: - The funding was led by NEA with participation from Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, and others.
- Super has targeted a market created by the geography of the archipelago nation: While the capital Jakarta is awash in goods and services, Tier 2+ cities and rural areas have lower productivity and consumer goods costs higher by 20% to 200% thanks to supply chain issues.
- The company works with third-party logistics providers and claims it can get orders to consumers within 24 hours.
- It currently operates in 30 cities in East Java and South Sulawesi, targeting areas with a GDP per capita of $5,000 or less.
- Its expansion plans include Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluk, and Papua over the next few years.
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 Public investment rounds for crypto VC totaled 170 in May, down 24.2% from the previous month and 28.8% from the previous year. There were 224 rounds in April 2022 and 132 rounds in May 2021. More: - Total funding came in at $4.2B, down 38.2% from April 2022 ($6.8B) and up 97.8% from May 2021 ($2.2B).
- With 21% of all projects, the blockchain infrastructure industry took the largest slice of the funding pie.
- The largest pre-IPO funding round for a company went to Indonesia-based xendit, which raised $300M for its converged payment platform.
- Chainalysis’ $170M Series F round took second place.
- A total of 614 VCs have invested in crypto projects since 2020.
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Vestaron, a U.S. agtech company developing alternatives to chemical-based crop controls using peptides, raised $82M Series C. The round was co-led by Ordway Selections and Cavallo Ventures, the VC arm of agribusiness major Wilbur-Ellis. More: - Participation in the funding came from new investors Argonautic Ventures, Endeavor8, and Fortistar, as well as existing backers iSelect, Northpond Ventures, Novo Holdings, Syngenta Group Ventures, and CGC Ventures.
- The Raleigh-based company has been active sincere 2019 and claimed a 5% market share in California-grown pistachios in 2021.
- The use of peptides in its pesticides is based on the fact that the chemicals degrade quickly into singular amino acids, which are generally harmless to the surrounding environment and humans.
- Conventional crop protection relies on small chemical molecules that have become notorious for the detrimental effects of their runoff.
- Not only are these chemicals beginning to see serious regulatory restrictions or outright banning, their legacy status means that the pests they target have often developed resistance, according to Vestaron.
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 Today’s Funding 💸 Biotech/Health - Moxe Health (Madison, Wis.), interoperability healthcare platform: $30M B led by Piper Sandler Merchant Banking, Vensana Capital.
Blockchain - Kryptomon (St. Vincent), NFT-powered Play-and-Earn gaming project: $10M led by NFX, participation from PLAYSTUDIOS, Griffin Gaming Partners, et al.
ClimateTech - Novoloop (Taiwan), plastic upcycling: ...
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! | | | |
Quick Hits - In a recent survey, 70% of respondents said their employment records more accurately reflect their ability to repay than their credit score.*
- Luxembourg/London-based Web3 venture capital firm Fabric Ventures closed its latest fund at $140M, $30M above its hard cap and twice as large as initially targeted.
- Boldstart Ventures, a seed- and early-stage VC, closed two new funds: its sixth flagship fund with $192.2M and a third opportunity-style fund at $175M.
- Ultimate Genomics, a new genomics company providing sequencing architecture, exited stealth with $600M from General Atlantic, Andreessen Horowitz, D1 Capital, Khosla Ventures, Lightspeed, Marius Nacht, aMoon, Playground Global, and Founders Fund.
- ReliaQuest, a cybersecurity outfit, acquired threat intelligence startup Digital Shadows for $160M.
- Egyptian food delivery platform Appetito acquired Moroccan/Tunisian competitor Lamma for $10M.
- Find out which of these types of partnerships 110 executives preferred the most in the survey results.*
*This is a sponsored post.
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Upcoming events at Inside - June 07 - June 08 - Cloud Innovation Summit: See what high-performance cloud app dev looks like. (Register Here) *
- June 09 - Empowering Content Creators with No Code (Register Here)
- June 15 - Need To Know NoCoder - Artem Harutyunyan (bardeen.ai) (Register Here)
- June 16 - Future of the Art Market (Register Here)
- June 30 - HR Strategies to Retain Remote Employees (Register Here)
- July 20 - Need To Know NoCoder - Yassine Tahi (Kinetix) (Register Here)
*This is a sponsored post.
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 |  | 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. | |
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Ably, the platform to power synchronized digital experiences in realtime. | |
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