 QoQ exit values and counts In the first six months of 2022, venture-backed exits in the U.S. totaled $48.8B, per PitchBook-NVCA Venture Monitor. The total for H1 2022 represents just 6% of last year’s total value recorded from venture-backed firms’ exits, as public listings in the second quarter of this year fell to their 13-year quarterly low. The uncertainty of the market condition has led many firms to postpone their SPAC mergers or abandon the idea altogether. More: - While IPO listings for venture-backed firms have reduced, exits through acquisition are still holding up to 2021’s levels.
- There were 31 and 11 IPOs recorded during Q1 and Q2 of this year, respectively, compared to the 52 and 77 public listings in the same periods in 2021.
- Acquisition deal counts for the first and second quarters were 259 and 202, respectively.
- The first quarter of 2021 saw 280 acquisitions, followed by 273 in the succeeding quarter.
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2022's first half saw record levels of venture capital invested in the gaming sector, amounting to $7B+, per Drakestar. Eleven companies raised funding rounds over $100M. M&A activity in the sector remained strong, with $95B worth of deals announced or closed during the period. More: - The largest gaming investment for the first half was $2B provided by KIRKBI and Sony to Epic Games.
- Animoca Brands, Dream Games, Immutable, and thatgamecompany each raised over $150M in funding.
- Bitkraft, Galaxy Interactive, Andreessen Horowitz, and Griffin Gaming were the most active investors during the period.
- Andreessen Horowitz, Immutable, and Konvoy Ventures were firms that raised new gaming-focused funds, totaling $600M, $500M, and $150M, respectively, further increasing the amount of dry powder available for investment.
- Private financing totaled $3.6B in the second quarter, driven largely due to funding secured by blockchain gaming companies.
- Late-stage companies secured $2.5B of the total investment for the quarter, followed by early and mid-stage companies with $0.7B and $0.4B, respectively.
- The industry received a boost with the heightened M&A activity, most notable of which was Microsoft's Activision takeover for $68B.
- Other major acquisition deals announced in H1 included Take-Two's acquisition of Zynga and Sony's acquisition of Bungie, both billion-dollar-plus deals.
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aMoon has reportedly held a first close of its Growth II fund at $340M, per Calcalist. The Israeli life sciences venture capital firm is targeting a $750M final close for the fund by next year. The fund will follow a similar investment strategy as its preceding Growth I fund, which closed at $750M, of investing firms along the intersection of advanced technology and biology. More: - aMoon will back late-stage startups that are leveraging AI, big data, and other advanced technologies to solve challenges in the healthcare domain.
- Several existing limited partners have renewed their investments in the current fund, most notable of which are Credit Suisse, Discount Capital, and Pictet.
- Credit Suisse has reportedly contributed $100M to the current fund on behalf of its clients.
- Among the fund's investors is an unnamed large U.S.-based institutional investor that manages over $100M in investments, primarily in the healthtech sector.
- At the moment, aMoon manages over $1.3B worth in assets.
- Through its Growth I fund, aMoon backed 22 companies.
- Amongst aMoon's notable portfolio investments are Genomics and CartiHeal, the latter of which was acquired by Bioventure for $500M last year.
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FreshRealm, a supplier of meal kits and ready-to-cook food, received $200M in funding. The financing brings the total raised by the firm to over $300M. Incoming funds will help the firm expand its production facilities in the U.S., increase the efficiency of its supply chain, and expand products. It currently has four facilities in the U.S. More: - FreshRealm supplies food kits to over 10,000 retail outlets across the U.S.
- It introduced off-the-shelf meal solutions called Kitchen Table last year, which will soon be available in Market Basket stores.
- The company has also expanded into white-labeled products in partnership with several grocery stores.
- Names of investors in the current funding round were not disclosed.
- In May last year, the firm received $32M of venture funding.
Zoom out: - Fresh and prepared meal companies raised $107.6M in funding in the past 12 months, a sector dominated by meal kits, online grocery, and direct-to-consumer frozen goods.
- Over the 12-month period preceding June 2021, the industry had raised $50.4M in funding.
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JAKA Robotics, a Chinese robotics firm, raised $150M in financing from its Series D funding round. Temasek, TrueLight Capital, SoftBank Vision Fund 2, and Prosperity7 Ventures co-led the funding round, which the firm claims is the highest raised for any robotics firm in China. The firm intends to use the funds to advance the research on a new generation of collaborative robotics and expand its global reach. More: - To date, JAKA Robotics has deployed over 10,000 collaborative robots, which are helping companies increase production capacity and assisting workers in labor-intensive jobs.
- JAKA’s robots are used for package handling, machining, testing, welding, and many other applications.
- This year, the company launched a new Pro Series robot with IP68 certification designed to work for six years without interruption.
- The firm raked in $50M in financing from its Series C and C+ funding rounds last year.
Zoom out: - Per Interact Analysis, China is expected to continue dominating the collaborative robotics market, upping its market share from 49.1% in 2021 to 54.4% in 2026.
- By 2026, China is forecasted to export 50,000 robots annually.
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Cambridge, Mass.-based biotechnology firm CAMP4 Therapeutics closed its Series B funding round with $100M in funding. Patient Square Capital’s portfolio company Enavate Sciences led the fundraiser. The firm will use the proceeds from the funding to advance the development of its lead regRNA programs, expand its Actuating Platform, and support its drug candidates. More: - Toward the middle of 2023, the company plans to commence human testing for its lead candidate to treat Dravet syndrome.
- More than 1,000 genetic diseases could be treated with the company’s platform, according to CEO Josh Mandel-Brehm.
- Gaingels joined other returning investors Polaris Partners, Northpond Ventures, Andreessen Horowitz, The Kraft Group, and others in the funding.
- The recent funding, along with the firm’s previous $45M Series A funding round, brings the firm’s total funds raised to date to over $190M.
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Quick Hits: - Ransomware attacks grew by 485% in 2020. This multi-pronged approach can help organizations respond to and recover from ransomware attacks.*
- In 2021, global venture capital investment into the AI sector topped $22.3B, only $400M less than the record-setting investment in 2019. The industry has registered a 48.5% YoY growth.
- Section 32 led a $75M Series B funding round into BigHat Biosciences, a biotech firm leveraging machine learning and synthetic biology to develop antibody therapies. Amgen Ventures, Gaingels, and GRIDS Capital participated in the funding round.
- Advanced microsurgery robotics manufacturer Medical Microinstruments Inc secured $75M in Series B financing led by Deerfield Management and participation from RA Capital Management, Biostar Capital, and Andera Partners.
- Israeli biotech firm designing robotics for advanced cataract surgeries, ForSight Robotics, raised $55M in venture funding.
- Startups and venture capital data intelligence platform Crunchbase closed its oversubscribed Series D funding round at $50M. OMERS Ventures, Mayfield Fund, and Emergence participated in the Alignment Growth-led funding round.
- DCVC Bio, along with Mubadala Capital, Polaris Partners, Qiming Venture Partners USA, and others, backed a $48M Series A fundraiser for machine learning-based oncology treatment discovery platform Auron Therapeutics.
- How’s your current digital marketing strategy? Make it even stronger with our new interactive worksheet.*
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | 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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