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| (Adriana Hansen/PitchBook News) |
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A new buzzword for many VCs today is "rollups."
This year, a slew of VC firms have turned to the PE playbook of buying and merging multiple similar small companies in the hope of building industry leaders. But unlike its big brother, VC's secret sauce is technology, specifically AI.
Put simply, the strategy is to buy companies in a fragmented sector, embed proprietary AI technology to boost margins and scale faster than incumbents. In essence, instead of selling tech to companies, VC-backed specialists are just buying them.
I'm Leah Hodgson, and this is The Weekend Pitch. You can reach me at leah.hodgson@pitchbook.com or on X @LeahFHodgson.
While the rollup model has captured investors' imagination, questions remain about whether this strategy can deliver the outsized VC returns that they have come to expect. |
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| A message from Fidelity Private Shares LLC |
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| Top Venture Capital Trends Startups Should Watch in 2025 |
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Startup executives, venture capital is always changing—staying current is critical.
Fidelity’s guide, "Top Venture Capital Trends Startups Should Watch in 2025," delivers the latest insights on:
- AI-Driven Growth: How companies like OpenAI and Waymo are securing major funding.
- Regional Insights: Key strengths of top venture hubs.
- Sustainable Growth: Why smart management and sound models drive better exits.
- Market Recovery: Rebound in venture deals and extended fundraising timelines.
- Exit Strategies: M&A trends and their strategic advantages.
Download the guide to navigate midstage VC with confidence and position your company for long-term success.
Fidelity Private Shares LLC offers cap table management and other administrative services to private companies and their equity plans. |
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Tariff uncertainty is hitting the supply chain tech industry hard, with quarterly dealmaking falling to its lowest level in eight years. How much VC funding did startups in the sector collect in Q2?
A) $1.4 billion
B) $980 million
C) $2.2 billion
D) $3.7 billion
Find your answer at the bottom of The Weekend Pitch! |
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Nuclear, grid tech lead
VC dealmaking in clean energy
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VC funding for the clean energy sector dipped in Q2, with $3.9 billion invested—down 6% from the first quarter. Nuclear and other dispatchable energy sources led the quarter in deal value, while grid infrastructure saw the highest deal count.
The industry remains resilient amid shifting policy winds, according to our latest Emerging Tech Research. In the US, the Big Beautiful Bill Act phases out key clean energy tax credits, creating short-term urgency for solar and wind developers. Grid connection delays also remain a global bottleneck, prompting reforms in the US, UK and EU. |
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Ranking the records
of private fund managers
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PitchBook's Global Manager Performance Score League Tables rank private fund managers' track records using a proprietary methodology. The latest edition is now available to help LPs and GPs cut through the noise of benchmarking returns and identify historically top-performing fund families.
- The report, accompanied by our interactive league tables page, ranks the top-performers across a variety of strategies and geographies.
- This edition also introduces gold, silver and bronze badges to make the scores easier to interpret and recognize the top firms in our rankings. Who will stand atop the podium?
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| (Spencer Platt/Getty Images) |
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"A jump of this magnitude day one often suggests irrational exuberance more than considered valuation."
—Lise Buyer, co-founder of IPO adviser Class V Group, reacting to Figma's 250% IPO pop. You can read more about what Figma's blockbuster debut means for VC-backed exits in Rosie Bradbury's recent article. |
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Keep an eye out for these insights and research reports coming out this week:
- Q2 2025 DefenseTech Vertical Snapshot
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