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In today's Daily Pitch, you'll find:
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Defense-tech boom spawns wave of new European GPs
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(Dragos Condrea/Getty Images) |
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Europe has seen record levels of VC investment in the defense-tech sector this year while conflicts and success stories increase appetite. As funding grows, so too has the number of emerging managers targeting the sector.
Tech investors historically shied away from the defense-tech market. But their interest has been piqued by dual-use technology—any product or software that can be used for both civilian and military purposes—which has also become more of a focus for startups in the sector. |
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Strong performance from our buyout replication portfolio in Q3
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PitchBook's buyout replication portfolio—a proxy for buyout fund performance—notched another solid quarter.
- These returns were powered by a strong performance from small-cap stocks, propelled by expectations of more interest rate cuts.
- The BRP outperformed the sector- and leverage-adjusted Russell 2000 Index, returning 10.3% and 9.4%, respectively. The Russell 2000 Index outperformed the S&P 500 Index by more than three percentage points.
- Three of the companies in the BRP—Bally's, Instructure and Envestnet—announced take-private acquisitions during the quarter. Looking ahead, one of the BRP's current top take-private targets, SecureWorks, might soon be taken private, according to media reports.
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Get SVB's take on the private fund trends CFOs and COOs need to know
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Find out how PE and VC funds are navigating LP relationships—among other factors—in the face of macro headwinds.
Read the report |
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Demand for virtual-first care declines, taking share prices with it
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