Your IP : 216.73.216.104
| Current Path : /home/angker/mail/new/ |
|
|
| Current File: /home/angker/mail/new/1774207638.M49563P873938.server-619288.prediksijaya.com,S=191536,W=194914 |
Return-Path: <bounces+28456106-7880-vetyl=ponjosonek.com@em9314.news.pitchbook.com>
Delivered-To: angker@server-619288.prediksijaya.com
Received: from server-619288.prediksijaya.com
by server-619288.prediksijaya.com with LMTP
id 9wu4ApZCwGnSVQ0Af7/9AQ
(envelope-from <bounces+28456106-7880-vetyl=ponjosonek.com@em9314.news.pitchbook.com>)
for <angker@server-619288.prediksijaya.com>; Mon, 23 Mar 2026 02:27:18 +0700
Return-path: <bounces+28456106-7880-vetyl=ponjosonek.com@em9314.news.pitchbook.com>
Envelope-to: vetyl@ponjosonek.com
Delivery-date: Mon, 23 Mar 2026 02:27:18 +0700
Received: from o2.ptr812.pitchbook.com ([159.183.175.69]:60676)
by server-619288.prediksijaya.com with esmtps (TLS1.3) tls TLS_AES_128_GCM_SHA256
(Exim 4.99.1)
(envelope-from <bounces+28456106-7880-vetyl=ponjosonek.com@em9314.news.pitchbook.com>)
id 1w4OSC-00000003f3a-3XLW
for vetyl@ponjosonek.com;
Mon, 23 Mar 2026 02:27:17 +0700
DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=news.pitchbook.com;
h=content-transfer-encoding:content-type:date:from:mime-version:subject:
list-unsubscribe:to:cc:content-type:date:from:subject:to;
s=s1; t=1774005159; bh=8I8JvDMEZnE1Oc2O17LHUwR+mCsNrNbcRRUs7PpUVKs=;
b=lS/5jA+2GmWwiQEraxw0SPmv9mP9CnLXMjPeB5oVufs3AMyE/VMpIWwc+G4yULDij9oa
F+LgkVpMBU9Q3L1skl4cjXeJgEav1hQzboZs5twafbSdpnYJllUM4D+AAP9BQyWVC+NCO8
tASu/VBUTHYMKgLEaYBeC+35iwQeTrNYnzozo9g4rZNtqqIZ3iEJ+F8Bs6mHUi7WYmpCvE
VLoQZkbMJqATEzSArO1Vblgio8fy8nqEipbqrDnai49I3V+hBIJUWFrbSLWAlUZouzVAHK
tDKL8YfuMeo+PsJlrSZSTExkOrEb6JfpyQ5Ni4ssxMdMZRiRU0H2viFHATg4bRQQ==
Received: by recvd-canary-6c7cf6dbc9-hhkpm with SMTP id recvd-canary-6c7cf6dbc9-hhkpm-1-69BD2BA5-E8
2026-03-20 11:12:37.678162225 +0000 UTC m=+922711.760603798
Received: from Mjg0NTYxMDY (unknown)
by geopod-ismtpd-5 (SG) with HTTP
id OyXtgsyURSq8JcCfDiCY9Q
Fri, 20 Mar 2026 11:12:37.634 +0000 (UTC)
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset=utf-8
Date: Fri, 20 Mar 2026 11:12:39 +0000 (UTC)
From: PitchBook News <news-noreply@news.pitchbook.com>
Mime-Version: 1.0
Message-ID: <OyXtgsyURSq8JcCfDiCY9Q@geopod-ismtpd-5>
Subject: SpaceX at Musk's mercy
List-Unsubscribe:
=?us-ascii?Q?=3Chttps=3A=2F=2Fcontent=2Epitchbook=2Ecom=2Fnewsletter=2Funsubscribe=3Feid=3DUK23?=
=?us-ascii?Q?EBU6P5WAW&em=3DX65PN7GSJDIPRVZXJSN5XGVXL3?=
=?us-ascii?Q?AFLT7KSBPM3DI&ent=3DEJKJ2TTFOWZ2C=3E?=
X-SG-EID:
=?us-ascii?Q?u001=2EwjHNPkoEd0tti6dH8mhCZa5d7rLdiAsxLgSYARk73rxHPd3Aqlcm2Tnrv?=
=?us-ascii?Q?pNBcRMFNFcwVOs7OA=2FjzaFr76g=2Fih8Rml=2FQoyuB?=
=?us-ascii?Q?nYya3UCQHICbnJ8VSaspIyIP2scYtNNn7WFScD2?=
=?us-ascii?Q?uEOqDoYhWJosrfIq3tW3OTcDUVpb8RAZS5m7YnU?=
=?us-ascii?Q?hHzvwSF31nRENiPoMZPCdBQQgl+wV1JNnHGnprD?=
=?us-ascii?Q?laXnGsZ4ruvAvfkKRsw13szWFFePThpGfDFYyLQ?= =?us-ascii?Q?N2Q0?=
X-SG-ID:
=?us-ascii?Q?u001=2ESdBcvi+Evd=2FbQef8eZF3Br+BiVHMa6y=2FD0OxHyDTyeHBn4HmQMpF4Qb03?=
=?us-ascii?Q?VKy+NsOif6qx82VoLgh59RtJ66WHiqUyA4Xrq5Y?=
=?us-ascii?Q?WXO6JSqtbp12WrdaAkLnh28Jt8Jxmnok1sLKF0u?=
=?us-ascii?Q?zLWj37o7s=2FF7gKGBLDujv4P++JPDzcXO5gzt7ui?=
=?us-ascii?Q?Higxty0zh0LEmcXiNEcKylUbDLtZMXw7PTOAZob?=
=?us-ascii?Q?Aa093UV02F1YPp23K=2FiDWJlmnAYehKH5f3rAhZv?=
=?us-ascii?Q?ZU1n=2FQd5sHgc0W+YS2WGuX564XCxQroHryc3gQh?=
=?us-ascii?Q?8QgTbNOkyZ8r+w5bIF0yLPg35ORC0LaN0UA9UT5?=
=?us-ascii?Q?1+rxtizhv+n55VDhHD7UPUv3DBf0A23ms=3D?=
To: vetyl@ponjosonek.com
X-Entity-ID: u001.YFoIgyol8PWrw0qKNaJxbQ==
X-Spam-Status: No, score=0.5
X-Spam-Score: 5
X-Spam-Bar: /
X-Ham-Report: Spam detection software, running on the system "server-619288.prediksijaya.com",
has NOT identified this incoming email as spam. The original
message has been attached to this so you can view it or label
similar future email. If you have any questions, see
root\@localhost for details.
Content preview: PitchBook Newsletters Defense robotics surges 139%; Bezos
targets $100B AI manufacturing fund; Mercer continues asset management push
March 20, 2026 | Read online | Manage your subscription The Daily Pitch PE,
VC and M&A [...]
Content analysis details: (0.5 points, 5.0 required)
pts rule name description
---- ---------------------- --------------------------------------------------
-2.5 RCVD_IN_HOSTKARMA_W RBL: Sender listed in HOSTKARMA-WHITE
[159.183.175.69 listed in hostkarma.junkemailfilter.com]
0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked.
See
http://wiki.apache.org/spamassassin/DnsBlocklists#dnsbl-block
for more information.
[URI: pitchbook.com]
0.0 RCVD_IN_VALIDITY_CERTIFIED_BLOCKED RBL: ADMINISTRATOR NOTICE: The
query to Validity was blocked. See
https://knowledge.validity.com/hc/en-us/articles/20961730681243
for more information.
[159.183.175.69 listed in sa-trusted.bondedsender.org]
0.0 RCVD_IN_VALIDITY_RPBL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to
Validity was blocked. See
https://knowledge.validity.com/hc/en-us/articles/20961730681243
for more information.
[159.183.175.69 listed in bl.score.senderscore.com]
0.0 RCVD_IN_VALIDITY_SAFE_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to
Validity was blocked. See
https://knowledge.validity.com/hc/en-us/articles/20961730681243
for more information.
[159.183.175.69 listed in sa-accredit.habeas.com]
-0.0 SPF_PASS SPF: sender matches SPF record
0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid
-0.1 DKIM_VALID Message has at least one valid DKIM or DK signature
-0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's
domain
2.5 RCVD_IN_MSPIKE_L3 RBL: Low reputation (-3)
[159.183.175.69 listed in bl.mailspike.net]
0.0 RCVD_IN_DNSWL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to DNSWL
was blocked. See
http://wiki.apache.org/spamassassin/DnsBlocklists#DnsBlocklists-dnsbl-block
for more information.
[159.183.175.69 listed in list.dnswl.org]
0.0 HTML_MESSAGE BODY: HTML included in message
0.1 MIME_HTML_ONLY BODY: Message only has text/html MIME parts
0.5 KAM_REALLYHUGEIMGSRC RAW: Spam with image tags with ridiculously huge
http urls
0.0 RCVD_IN_MSPIKE_BL Mailspike blocklisted
0.0 LOTS_OF_MONEY Huge... sums of money
X-Spam-Flag: NO
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www=
.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns=3D"http://www.w3.org/1999/xhtml" xmlns:v=3D"urn:schemas-microso=
ft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office">
<head>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dutf-8">
<meta http-equiv=3D"X-UA-Compatible" content=3D"IE=3Dedge">
<meta name=3D"viewport" content=3D"width=3Ddevice-width, initial-scale=3D=
1.0">
<meta name=3D"x-apple-disable-message-reformatting"><!--[if gte mso 9]><x=
ml>
<o:OfficeDocumentSettings>
<o:AllowPNG/>
<o:PixelsPerInch>96</o:PixelsPerInch>
</o:OfficeDocumentSettings>
</xml><![endif]-->
<title>PitchBook Newsletters</title><!--[if (gte mso 9)|(IE)]>
<style type=3D"text/css">
table {
border-collapse: collapse;
}
body,table tr,table td, div, a, span {
font-family: Roboto, Arial, sans-serif !important;
}
</style>
<![endif]-->
<style>
/* Windows Phone Viewport Fix */
@-ms-viewport {
width: device-width;
}
.mobile-only {
display: none !important;
mso-hide: all !important;
}
.desktop-only {
display: table !important;
mso-hide: none !important;
}
.newsGroup-border-mobile {
border-bottom: 0 !important;
}
@media only screen and (max-width: 800px) {
.mobile-only {
display: table !important;
mso-hide: none !important;
}
.newsGroup-border-mobile {
border-bottom: 1px solid #C3C3C3 !important;
}
.desktop-only {
display: none !important;
mso-hide: all !important;
}
.container {
width: 100% !important;
min-width: 280px;
}
.content {
padding: 0 5px;
}
.walkthrough-image {
width: 100% !important;
}
.performer-title,
.performer-content{
font-size: 6px !important;
}
.header-msg {
font-size: 9px !important;
}
.pre-header {
padding: 10px 20px !important;
text-align: left !important;
}
.side-bar {
display: none !important;
width: 0 !important;
max-width: 0 !important;
height: 0 !important;
max-height: 0 !important;
opacity: 0 !important;
}
.line-breaker {
display: block !important;
}
.responsive-img {
width: 100% !important;
}
}
</style>
</head>
<body style=3D"margin: 0 !important; padding: 0 !important;">
=20
<table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp=
adding=3D"0" border=3D"0" align=3D"center">
<tbody>
<tr>
<td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri=
f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span =
style=3D"color: #78766f; font-size: 1px; display: none !important;"> Defens=
e robotics surges 139%; Bezos targets $100B AI manufacturing fund; Mercer c=
ontinues asset management push </span></td>
</tr>
</tbody>
</table>=20
<style>
@font-face {
font-family: 'Roboto';
font-style: normal;
font-weight: 800;
src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne=
wsletter/Roboto-ExtraBold.ttf') format('truetype');
}
@font-face {
font-family: 'Roboto';
font-style: normal;
font-weight: 400;
src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news=
letter/Roboto-Regular.ttf') format('truetype');
}
@font-face {
font-family: 'Roboto';
font-style: normal;
font-weight: 300;
src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle=
tter/Roboto-Light.ttf') format('truetype');
}
@font-face {
font-family: 'Roboto Serif';
font-style: normal;
font-weight: 500;
src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com=
/newsletter/RobotoSerif-Medium.ttf') format('truetype');
}
td ul {
padding-left: 1.8em;
}
td li {
position: relative;
margin-bottom: 0.5em;
}
</style>
<table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing=
=3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo=
nt-family: Roboto, Arial, sans-serif;">
<tbody>
<tr>
<td align=3D"center"><!--[if (gte mso 9)|(IE)]>
<table lang=3D"x-main-container" width=3D620" cellpadding=3D"0"=
cellspacing=3D"0" border=3D"0" align=3D"center">
<tr>
<td>
<![endif]-->=20
<table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"=
>
=20
<tbody>
<tr>
<td class=3D"content" width=3D"100%" style=3D"min-width: 100%; pad=
ding-left:5px; padding-right:5px;">
<table lang=3D"x-header" class=3D"container" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
=20
<tbody>
<tr>
<td>
<table lang=3D"x-header-subscription" style=3D"min-width: 100=
%; text-align: left;" cellspacing=3D"0" cellpadding=3D"0" align=3D"center" =
width=3D"100%">
<tbody>
<tr>
<td class=3D"header-msg" style=3D"padding-top: 20px; paddi=
ng-bottom: 28px;
font-family: Roboto, Arial, sans-serif; fon=
t-size: 11px;
-webkit-text-size-adjust: 70%; text-size-ad=
just:70%; -ms-text-size-adjust: 70%; text-align: center;">March 20, 2026 &n=
bsp; | <a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo=
-2F0oBgcyPgjR5gLrN8Xa4jYYRaCM8HsoKngQ-3D-3DW6Ip_Pr966knuaHmaw6c7pKvB-2BCEiD=
nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZ=
e3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7y=
L0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ=
3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYsjeRhemnApp-2F52tvHBFq-2BmYyU04reGt7f=
nqU7H2JzCcEdvhJFT-2BraX1GRov13Tfa5Yff435oqNVhmXVkpsHnNg4gj86HYPyHE3LD5tIOLQ=
1HOrxcTkNDqD0pV5X-2Fi1HA10IReFUlIgp4vvaW-2BFrWVx-2BusKZqrJipYiCm5-2FRIscgun=
zKB9KgwTRB02a8myl1l-2BbcoS-2BFlhjc9W4SJckOZRncuJZ-2FPJeaS6fO4xNsa9AO-2BYP0N=
4tqvQSG-2F6wZTGPc-2BYL252pcI09vSZv7mDoJWg-3D" target=3D"_blank" style=3D"te=
xt-decoration: underline; color: #1D5080">Read online</a> |&nbs=
p; <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3D=
u001.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSgX8wjgWQkjpY2yE70mtuFtQh5=
JMynEp-2F-2B0ZsygXiW0c8xb0JNNkFtjTfdSBLrG5odLYHQXzZYap3xyjo613CQL5EKIRNY6DZ=
pApxW-2FtnBQ7rUuqNohbArjpNQasEdfyU-3DscZW_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl=
JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz=
4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQ=
bgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDo=
ZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKbGl3Cuzph0Qxx8jdOpHzD1xLEY671RgQTP4YQHDXD0AP=
X85YwP-2Blyrq-2BH5rJvcKGt5qKYvNu5izqB2tz44wSPXImzzBh8Xhq8wBJUyKaT679nU46o7s=
oK6E1McWOoVv01Rjd6H0xcm5YQtlz1p8hNjuRJPbKhjDPtmCqOEjdeYQb9qdMaZnhkcUD4y5emN=
HI8f86Ejrl4QA1bVDMexcwwiGhkI-2FKDxmNlJROz9IahglMe1oYRDuPvG-2Bwi-2Bl7vwkb05k=
Pq902modysVegZUVxzI-3D" target=3D"_blank" style=3D"text-decoration: underli=
ne; color: #1D5080">Manage your subscription</a></td>
</tr>
</tbody>
</table></td>
</tr> =20
<tr>
<td style=3D"padding-bottom: 14px; text-align: center;"><a hre=
f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5gt5QWIqAV6Z7Vi8zPpRr-=
2Fhg-3D-3DCPrx_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8=
UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2B=
Aq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtSt=
JzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZE=
yNwKQxA4w6gUfuhjcJBY9DOI3hISVRe8n3HFziApQBMoMwfVV3ser1bPMC5sU4ojHcFLD5vMLGH=
qbO-2BF2Qg-2FNl-2FoUU6WExzbukNXF1Lqryg-2FH3usHKnb9i4UDubtQcNmfymKrjDSoVN6WS=
yS03Z4giSUsMmB6sDr3EPkohg-2BaMaW4NdlVP-2FIEQtxjCV9M4PLgIruZnnu8rf7aCRUtzLjN=
80-2Fz75GvLjv0rUd4Ng9Bm6WtqUvmjkuuyIi1wYjDmH-2BjFbdtXs8Md7Y8jNpit7mLOlPvE-3=
D" target=3D"_blank"> <img width=3D'1' height=3D'1' opacity: 0; style=3D'di=
splay:none !important; mso-hide: all;' src=3D'https://my.pitchbook.com/ms/p=
ixel?userId=3D3DUK23EBU6P5WAW&eventSource=3D3DZQDXJQ6VUBAECQE7XY5D5PSLQI&em=
ailId=3D3DVI2K7BQEAVBVG&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL245ZG625LDUYNYOD=
6M6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DUAZEVU3EPI6EYRHRSC2KEHCFHGQ6Z=
MZBKVWWKQA.gif'/><img src=3D"https://url6380.news.pitchbook.com/wf/open?upn=
=3Du001.3gwe9GsF-2BTAFq5zC5EhFQ2a8abB1qTlMwYRLNzMolGjSmCPqRZuyzb5tQBOnSwcKR=
dXdE2k-2BKn4BvB6JDBxrUPoYXQdUINlrbTGFKVxIp-2Fufm8QNtvuy9mVW3XxrFpDAd45HdYhP=
dlTjxETJ4kcdonNeDLU4mDtrxDoICyYA-2FsAtHsdKjVdfFMGFKQ-2B6DtIVydH0wpdN8Km68gL=
t718dNLWKwBaC7Y2zp966po0w3kQ0eNBeXjHOQ1yeu5MGwb2Zt-2FelsnBaClz2lesuv0PeRv1s=
Tqmnmc3tAD-2FffuUnzGkEnQDGk28-2FVBbqZXWqq9VrrF1VzZxPNJ6AuZPPRUYNyKVS0AJ8-2B=
kJ8-2FLW-2BuH1dZEDFec2xpNnQWo8helflXnC1tswacMzk4jNNuB4fX-2BmR1-2BVD0JvKJcBe=
btUEsq-2B0QyQQGQH-2FdM9MyuAlsFakv746nOt2guuZLdqwF0C4hqZsQ225GNmZ3-2FsfjKMCT=
boDe4ko9S-2FZlaxp8drup7ZDdgyltvUFw8IBP-2FhyBtz-2Barnbd0Yyuy9-2Ba0D5TyBJ6Fr-=
2BphsxmseOo7NFMS9nGU7rEDwk" alt=3D"" width=3D"1" height=3D"1" border=3D"0" =
style=3D"height:1px !important;width:1px !important;border-width:0 !importa=
nt;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !impor=
tant;margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !im=
portant;padding-right:0 !important;padding-left:0 !important;"/><img width=
=3D"141" height=3D"39" src=3D"https://fonts.pitchbook.com/newsletter/pitchb=
ook_morningstar_logo.png" alt=3D"PitchBook"> </a></td>
</tr>
<tr>
<td style=3D"text-align: center; font-family: Roboto Serif, Ge=
orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa=
n></td>
</tr>
<tr>
<td style=3D"text-align: center; font-family: Roboto, Arial, s=
ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, =
VC and M&A</span></td>
</tr>
<tr>
<td style=3D"text-align: center; font-family: Roboto, Arial, s=
ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p=
rivate capital markets</span></td>
</tr>
<tr>
<td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb=
sp;</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor=
der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im=
portant;">
<tbody>
<tr>
=20
<td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma=
x-width: 460px; padding-left:5px; padding-right:5px;">
<table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"=
0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"=
>
<tbody>
<tr>
<td style=3D"padding: 0;">
<table class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td lang=3D"x-advertisement" style=3D"padding-bottom: =
20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5gLCGc-2FgOPmscSsa47QFEH0A-3D=
-3Dh1Re_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
Rqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVM=
McQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN=
3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKSVh=
SmoQqox-2F29327OS-2FBS9Asmovd62BAhnBpVjLfTABJHY-2FwpeAubsDauHqWMLOw86baI10W=
uaExuQmtBYMN17Yjp-2BFloSu8FU7NPvuYZISE6Shb93zlyCYWbeonf0pwEu9-2BHEqBUHKDrP6=
D2e3R-2BOxZKtzrnXLVup15cJn3AlET5eLIW2dyvwjxzY15CyGUo8BdktWcKPzsc0oc7HmzkzbV=
DEz0wc9Z7R8SBeFNF8M14RMvVvM3f5v8cQwoQOEd5yBqiEN7xZgpiWjOPPeAQY-3D"><img wid=
th=3D"460" src=3D"https://img.pitchbook.com/ads/ad4514/SVBindustrialai.jpg"=
alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: bloc=
k; width: 100%; height: auto;"></a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=F0=9F=
=92=B5 <b>Jeff Bezos is targeting a $100 billion AI manufacturing fund, The=
Wall Street Journal reported, even as the buyout strategy wanes.</b> Once =
giants in the mega-fund space, LBO shops have been on the decline. Read our=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5g559QNQP13=
JyU0ppeGGHCCg-3D-3D6ztr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse=
2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFn=
QigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQ=
V4Y11azZEyNwKd2j-2FNvZ7Z4U-2BGZZMbEjJmfOGf6xYvyBRSQtAqCQB-2FSbdVjm-2BKixq-2=
BFNw-2BABMYWE8ZiUPzMYM-2B7blUVweU2ROgK00kyEUtLZxxRDc4UzSbdx3wxwpclBTCJqzjvQ=
A3vI1TZ3kspOJy-2BF-2Fa7Aq9GZ4reUEIixP8tXI9jiKKlQbQFlHzfhsRHR1oeTCsTl1hJ952z=
h19S5QHPxA-2Bo5c2YvixMFdbHK0mJo2UyaOviAFscKd8e-2BpSMHK3f-2BKCHMQgYEGrqumCeC=
LkbM9i6O-2FYfPRAE-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true=
"><b>Global Private Market Fundraising Report</b></a>.<br><br>
=E2=80=A2 <b><a href=3D"https://url6380.news=
.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzVL-2FQNoPZo-2F0oBgcyPgjR5gvQ1bK5FqUITYB27qFlBthg-3D-3DU3sv_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7=
TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgl=
oImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpk=
RC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYGZhr9QaPQhFMYMlpEeAEnm=
jgvdp-2BYbX1u3veI4lCQIFJE-2Fi72zg-2FXk-2FjLJvqBlgzopJXauoxlvS-2B62057dxQRrT=
HRlQrL-2FG-2Bejq0TTCCBH672y22Lx90p9kesygQ6thWe4F4MoP3QcC-2B7dH9rYDvWq6GsTbY=
o2g0-2BtypaA7GsdUmHlml97tZJzNiVNzDGyEgz612-2BGOo-2BUAKty1aOyA08kiK6BUzCBzrA=
7e85b-2F-2Fj2DENUljGUyPfrsU-2FK3vEQ9k0-2BfDjwmtlXgGLd1xbMgAQ-3D" style=3D"c=
olor: #1D5080;" test=3D"">Sign up for The Credit Pitch</a></b> for weekly n=
ews and analysis of the US leveraged loan and private credit markets.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_578821" id=3D"n_578821" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> Pity the dealmakers behind Spa=
ceX's IPO </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Franco Granda, Senior Research Analyst</i><br><br>
Investors and dealmakers preparing for Space=
X's upcoming $1.75 trillion IPO must reckon with one of the most powerful=
=E2=80=94and most dangerous=E2=80=94variables in public equities: the Elon =
Musk effect.<br><br>
Tesla's history offers an object lesson in t=
his dynamic, as our <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2=
F0oBgcyPgjR5gCZ0Pj2wTSbES1zQKMm5HDA-3D-3DnqRl_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3=
SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0=
fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3g=
SnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKX8Ih51pJN6AsD-2B7LM2mKgRp64Vo0Y3r2rE1XkX=
enPAdUohLKeq4Jc6cPb5Tv5QhW85dYekPCejX75HeV67mrUXY4KRKW8f-2Fc-2F00G7GDd9oSvU=
xL99mqlsJd7H71LXlyAz5eE-2FIPB3Npqyg2fy4RpuSmtfI8j4DeVPprgElxpEq4hdt-2FTgOia=
aSyECXeiyMIOToKSh85nS7321Lzbjdmg20AMHuQctrfnoPuqPmidjTMrtI4fQehKZrl7921ZMQK=
27cL3f-2FijsE3FsCA4fM5ENE-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">SpaceX pre-IPO report</a></b> explains. Since 2017, PitchBook ide=
ntified 99 major events that moved the EV leader's stock 7% or more on elev=
ated volume.<br><br>
About 6 in 10 were driven by company-specifi=
c catalysts. Corporate governance and political events, almost all of which=
trace directly to Musk, produced average moves of nearly 12%, statisticall=
y indistinguishable from earnings reactions, and skewed heavily negative.</=
td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"center">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
">
<tbody>
<tr>
<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5gBdl0i=
ewrtj6MHivFJbNrYw-3D-3DwJGD_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUH=
xmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQ=
MvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEg=
BxwQV4Y11azZEyNwKY2-2F75BKXFVQXj1JRitNoy2FB61afP-2BjUXs3x4oH4myO8Gl2Moxdj8L=
Yup2pMixyctrZoO-2FREDnHoXdY5k-2BfWFmSDB6d9fFQoMYew3GleQdTfEgkalQYLRXxEVcsjn=
o5We7kvO-2Fivym-2FnPLd8IkCVOibsF9iF8ZbRm7yRP-2FHblwp-2BVAGPOMxVqUxFt-2BmI6u=
L8Wy1M9thRQLiNQBecDkgdavCFiXzVebVlxJah6ldg1XrDFQ1C1oqaT70fj47p4XyYCm9n58JBb=
UAkIb0BDRKWhE-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D=
"https://img.pitchbook.com/news/73369.png" style=3D"border: none; width: 10=
0%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">The Mu=
sk premium cuts both ways. Tesla rallied over 90% in the month following th=
e 2024 presidential election on the "Trump-Musk trade," only to surrender t=
hose gains entirely by March 2025 as DOGE backlash, European boycotts and a=
49% collapse in China sales converged.<br><br>
SpaceX's unconventional offering could ampli=
fy these dynamics. The company plans to float roughly 3% to 4% of its equit=
y (the thinnest large-cap float in modern history), meaning Musk-driven sen=
timent shifts hit a much narrower order book. Where Tesla sees 10% to 15% s=
wings on governance and political catalysts, PitchBook expects SpaceX to ex=
perience 20% to 30% moves on equivalent news.<br><br>
Another factor is the company's credibility =
gap with investors, which is also familiar to Tesla shareholders.<br><br>
SpaceX management typically delivers on its =
targets, but only 1 in 5 arrive on time. The rest run two to three years la=
te. Shareholders will price this pattern through a kind of credibility ledg=
er, discounting management timelines by 1.5x to 2.5x while maintaining dire=
ctional conviction.<br><br>
The bottom line is that SpaceX's IPO will te=
st everyone whose reputation rides on it.<br><br>
Bankers must price a company whose controlli=
ng shareholder can move markets with a few words. Management must ground it=
s guidance in tighter, more defensible ranges than it has historically deli=
vered. Institutional investors must decide how much Musk-driven volatility =
they can stomach. None of them have an easy job.</td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-btn">
<tbody>
<tr>
<td align=3D"center" style=3D"height: 36px; b=
order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5gBdl0iewrtj6MHivFJbNrYw-3D=
-3Drsch_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
Rqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVM=
McQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN=
3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKaGh=
cMjh7MCMeKx7M28AAMdZB13x-2BLkt9zyu6msAFAF0mLw8SaejgUCUgs1JUGUCHN9v3y5C0Ir0f=
XnHzz5AI2cws-2B-2BBJIpK-2FSAob2Z1pJhY2ceSHNslcw-2F6beXcEgCGP8BP5SwC6BX3ifME=
-2BJjgHTC6NvH591hlIhZg0ySFQhdH3QaIybz9AfjDG7o9IxU9ifu62kfoLQemAdofQd6yG5ABe=
Zx2UaOCwscPDmY1gjbdK-2BQPAjBwO0CSIon22JLrJ9qw3FCn-2Fpv71Mw83f81yXw-3D" styl=
e=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-decorati=
on: none; color: black; padding-left: 3px" target=3D"_blank" universal=3D"t=
rue">Access the full SpaceX launch report<img height=3D"24" src=3D"https://=
fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: mi=
ddle; margin-left: 8px;" width=3D"24"> </a></td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;=
"> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
<tr>
<td colspan=3D"2" style=3D"padding: 0 20px;">
<table class=3D" " lang=3D"x-news-=
group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid=
th: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td style=3D"padding-bottom: 25px;">
<table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
=
border-bottom: 1px=
solid #C3C3C3;
=
">
<tbody>
<tr>
<td style=3D"padding: 1px 0 0 0; line-height:=
0;"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel=
ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F=
0oBgcyPgjR5gD-2B7yrGYsAJ4eVm5gvPTyHw-3D-3Dz24f_Pr966knuaHmaw6c7pKvB-2BCEiDn=
j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe=
3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL=
0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3=
gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKXHdjrTtkdkaAjKbMCAjATAXPiLrbux7Cuxgk3Qq=
PBgazrq7MHxwbRXQHujcZXnkHOs80B6Y2ALRbrT2ac1OA3ncJUyhdD7bbvQb9QpsJHYYBCfo4HC=
Q5FBkL0E8ESkS9RCM73IHi2DNkl-2FER0SbgGa3XH-2BLwSpYTMAqxjqbsNH5laOF01IyEBxojZ=
vJFM5lioIitN-2BvNAPgrRewH-2FzOlr1gjOY9PU59qEf-2BTcB1fvdeltnFQWGEFEJhVPmIQEU=
3gV3Qw0-2Faa2FiMhq9fBDt0Yk-3D" style=3D"color: #1D5080;" test=3D"" universa=
l=3D"true">Moonshot: The Next Stage of the Lunar Space Economy</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>A message from Marsh</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_578670" id=3D"n_578670" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> How transactional risk insuran=
ce shaped global M&A in 2025 </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">
<table align=3D"right" border=3D"0" cellpaddi=
ng=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"right">
<table align=3D"right" border=3D"0" cellpaddi=
ng=3D"0" cellspacing=3D"0" style=3D"float: none;
padding-left: 15px; ">
<tbody>
<tr>
<td align=3D"right" style=3D"text-align: righ=
t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVL-2FQNoPZo-2F0oBgcyPgjR5gYW6u-2FNcaz=
Aw6yXu0TeL54g-3D-3Dd-KD_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse=
2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFn=
QigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQ=
V4Y11azZEyNwKWd-2FZhkdR9lweMSD8k3uuQASd9vi-2B8gSwF11U3XTGHwGhTXXBOZUc7VnGyP=
wI97jL1UVH6J-2BNhkh99tXQ34Q5ESaTCyVkxla2EF8bzCsu7zetTFfg2-2Fhv05RtRjEarVxi0=
ARze3SDydhDtZMcCC5Brp98e1bbVAs0h5ofHv1SHxeWXY1FVyngwvHiCn46u28XPQpHL91H7s61=
cgQC7En0GFl-2Fb9uRKuzUBFXKUIScNS6ITN6iVSBxTGO4pYaAJ34mMJP-2BsTHBtgrV1F3P-2B=
PvUzA-3D"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/=
news/73263.jpg" style=3D"border: none; width: 100%; height: auto;"> </a></=
td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>Global M&A rebounded in 2025, wit=
h deal value rising 37% year-on-year to <a href=3D"https://url6380.news.pit=
chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzWsIRoxFgm6gmQ0dHflEI4PQ3ELU1Dp2j7VvSkb6EG58g-3D-3DbnON_Pr966knuaHmaw6c7=
pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7u=
c5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV=
2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3I=
CMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKXkEuMbV4-2FKxB9OqX-2B14wNHf=
CcvFKz-2B2EyvBsCnYpc7WeZ7U8du5xl3p5Nj-2BekU1Y07o-2B2pdPR9Zs904DNSL71TWl4-2F=
4-2BGQwCaR1aDDnRdGoCeY2pryDHL3AxrSAwBoohoOvNiemmVUqLsSp8ncL3PbegRC76Yf188mm=
zIK-2FWbM-2B6tfOsTEftkUeqa1PUy5kZ-2F88z5QhV1LL5tLvAmVHDzO4kLtIZSp1ifkXuS3W1=
jHFFD6NG6I8ehDoyhy873NwYAbP1BtGiaRyfvXxD6DfLSM-3D" style=3D"color: #1D5080;=
" test=3D"" universal=3D"true">nearly US$5 trillion</a> =E2=80=94 far outpa=
cing growth in deal count. According to Marsh=E2=80=99s global transactiona=
l risk team, this shift toward larger, more complex transactions significan=
tly increased reliance on transactional risk insurance, including R&W a=
nd tax insurance, to support deal certainty and execution.<br><br>
Mega deals surged globally. Transactions exc=
eeding US$1 billion drove demand for higher insurance limits, layered tower=
s, and coordinated multi-jurisdictional programs.<br><br>
In response to the rebounding deal environme=
nt, Marsh=E2=80=99s transactional risk team placed a record US$91.6 billion=
in transactional risk insurance limits across close to 1,800 transactions =
worldwide.<br><br>
Read Marsh=E2=80=99s <a href=3D"https://url6=
380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzWsIRoxFgm6gmQ0dHflEI4Pgu0NdMRpFvSEf0JY-2FUIedw-3D-3D61ec_Pr966k=
nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHV=
ItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurle=
cwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XX=
uQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKX6xzdcvEsnrncjZ9K=
2if7HSs3XeHpYA8RG7eg9Cw7m3kMk9-2BAklwjSTGqACzvKiKNHEce0VlkayTk4-2BHxfevmRH7=
6GcUX-2BiavyMl-2FPsP-2BHwc9G-2BJkRKAbgxOQlqID2ce8Hhr02I4JfqEqOP7u2jBD7G7P85=
XheftwJunjICLkqsOh6EB5Ash9WfrQ4w7dPwgNeGM8CYcziVo867K-2Fb2EYhcRLFax0RV2FRES=
xIuKgOEg1ZNwWcznJyuQDoNigqo0bvVF1iWg8w3xa1EGE1tO-2FI-3D" style=3D"color: #1=
D5080;" test=3D"">Transactional risk insurance 2025: Year in review</a> rep=
ort to gain insight into how deal structure, pricing, and risk allocation a=
re evolving in 2026.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Catch Up Quick</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80=
=A2 <b>A top-heavy structure could shape public investors' access to hard-t=
o-trade stocks.</b> With a few mega-cap companies such as SpaceX, OpenAI an=
d Anthropic expected to file to go public later this year, there could be a=
void in private markets. <a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6=
gmQ0dHflEI4P7EMGHIyfT-2BS1fNPEx6tWDg-3D-3D6RHG_Pr966knuaHmaw6c7pKvB-2BCEiDn=
j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe=
3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL=
0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3=
gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKdB63-2FTJ94tOxwthq5krRWYF6Xa5ZHOTcqjThJ=
g5kiLpusJ25lo2pUee94EvxU3DhdILssTPXRSSAOQSV4GxQQtYngaiUyBA3gEIdNh2JZcxErO7j=
YnngYEqxu94TupsMGvrekJMA8w4D8Elc2VN0C7JA526JGKCNd1SWp53j3ivebId-2Fj8PHJUDIm=
abNK5dOZW-2F3Ocvl7k-2FrFABnz2DlFGpjBUmXcxE-2F-2Fd7j7oHTF8eMd-2FQTsXJpEtUdHS=
WV8WRdMjj4zxJTW-2BqihobhU5PNmw-3D" style=3D"color: #1D5080;" test=3D"" univ=
ersal=3D"true"><b>Read more</b></a><br><br>
=E2=80=A2 <b>Mercer has been expanding from =
advising institutions to managing their money</b> in a string of M&A de=
als, including an agreement yesterday to buy Spain's AltamarCAM Partners, w=
hich is backed by Permira. <a href=3D"https://url6380.news.pitchbook.com/un=
i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm=
6gmQ0dHflEI4PdfqtrkfOrHcZYQLo0mwNtw-3D-3Dy9Br_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3=
SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0=
fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3g=
SnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKedX8RLetlIiii8mZnm-2F8f4ayHqBdVFs0U-2FqN=
hFCe4p-2FpUjDMDhZhKu3qQQrAKw6QqIXfesjReKoHzjzMEchnK2n-2FFjraz6aq0n3Jr47cZd5=
7aIIWqCIasgUwhy0kdi-2FdfA8gopt4u50FFGYjKruuDRR5G-2F1IL6Reop7K9K-2FmPzNbVveX=
l1jaNfhjPeBF1IYY8Irp09X3Gz8SK1-2B-2Bdezj137PYgD2SFspfpraTkB1NsVM-2Fnmf7jVaS=
jz1SrYMrdH0zj8sXYY9WpFdyNK-2BI5R88g-3D" style=3D"color: #1D5080;" test=3D""=
universal=3D"true"><b>Check it out</b></a><br><br>
=E2=80=A2 <b>Australia's superannuation fund=
s are interested in US AI and infrastructure</b>. IFM Investors has a plan =
to wean local governments off municipal bonds and embrace institutional cap=
ital. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001=
.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0dHflEI4PSg1-2Fnr=
U8Ow-2FsARKTpnFJjQ-3D-3DvpZD_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4=
BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCU=
Hxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cu=
QMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIE=
gBxwQV4Y11azZEyNwKaMzmeYwi7kqItxiOy8V2i4hvWiQYan9EBupjb78LfFu8zIfPuQ5D0HqYv=
RNKRzl28vi4rJqe1VKTOApZeq34XrxtU3dwl2nhKBtI7BzoMP-2B09xRqKfj1SdgWG7KwZAuBy0=
Rjf4EZpp3NBpytRFLw3S4PgTf0uc-2FInrKr1-2Bkt5J8iqFm6epK05J4PPKZEJ-2F1OE-2Fb0v=
kObN8CSJuPpeOdUdESLFnAw9M9ME-2FpZElUAti34Ra3UAyuTNFk58HPOmsuUU6ILlTPleCtiS-=
2BnuIjJ3nQ-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Le=
arn more</b></a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_578840" id=3D"n_578840" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> Drone deals fueled VC's 139% s=
urge into defense robotics </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Jacob Robbins, Technology Reporter</i><br><br>
Defense and security robotics attracted $8 b=
illion in VC across 234 deals in 2025, a 139% year-over-year increase, acco=
rding to our debut <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0=
dHflEI4PYG3oQRfVvxQy7X7Z83U-2FNQ-3D-3Dsw9d_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw=
lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgN=
z4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdt=
QbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnD=
oZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKdu4mR0mu0wZ0OjKCTAQQDl4HBHPhPEhwm6fyJ-2BBlh=
sxSz2tl6G-2BGtf-2Fwh0kS-2BtOacjiKBqi5dl99Pn-2FKNJtESli14vE6rkS2oRy6Ra6C9J06=
J88VV-2B4ZxCZdoYcDHL-2BeAb4eZJ6z1jS7noP6L5SBAjyYLf8NsHF1iVYulwUHfcNcix5GcWK=
-2FeMPX-2Bv7H1VV3eOq-2FU49GxJVnotHwf8IgzUROe9QBBvn0bR10LCTfKis-2F7kTii5HR3O=
Fh4xWWy6glCDEcYi6Z-2B7FhObMZ-2FcyQdI-3D" style=3D"color: #1D5080;" test=3D"=
" universal=3D"true">Robotics & Physical AI VC Trends</a></b> report. T=
he subsector also surpassed all of its peers.<br><br>
Much of defense robotics' rise is coming at =
the expense of logistics and warehousing, which historically has captured t=
he lion's share of investor attention. The latter shed 28.5% of its deal va=
lue in 2025 compared to 2024.<br><br>
The shift may reflect more than just a brief=
reallocation.<br><br>
"Warehousing and logistics has moved out of =
the hype phase and into a tougher environment where investors want clearer =
differentiation, better margins and proof that these companies are not just=
selling into a slower industrial CapEx cycle," said Ali Javaheri, PitchBoo=
k's senior emerging spaces research analyst and the author of the report.<b=
r><br>
"Robotics capital is no longer just chasing =
automation in the abstract=E2=80=94it is flowing toward segments where buye=
rs need capability now and are willing to pay for it," he said. "Defense fi=
ts that perfectly."</td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"center">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
">
<tbody>
<tr>
<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0dHflEI4Py-2F-2FXP=
735Rt5v-2FjDTzMDyVA-3D-3DZRO-_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR=
4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaC=
UHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9c=
uQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FI=
EgBxwQV4Y11azZEyNwKcpJfRvzCnobPmSUQz4JD6bdv51GIGBCt2faozB8IOokD8tJBJmy6JRae=
CGz-2Bq-2FBt5oUIDrqy5-2B8TfyoSrFnE8vriGgT-2FsQKVB6jMqRngnnhxnzhpD6wpj1FCGW9=
7QFdvTxTZrnxL8tCUUTNSp385Q7Ry7eesBZoDytaSn-2FLx0E8Q99QS7P1wvO7o-2BrajiJihIN=
DkSsvS7NEatA13kSIQLXLlNo5ZbW-2F0ZYwyr-2FSXQPTU-2B1jBl8DFmfIHnVp5DdfHA8lZqDw=
hZ8EJ8GAQl3WdK0-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=
=3D"https://img.pitchbook.com/news/73366.png" style=3D"border: none; width:=
100%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Autono=
mous drones were the main driver of the surge in funding in defense robotic=
s, raking in $6.2 billion across 169 deals on a trailing-12-month basis as =
investors pour capital into a market reshaped in real time by conflicts in =
Ukraine and the Middle East.<br><br>
Overall, the robotics and physical AI sector=
raised a record $27.6 billion across 1,009 deals in 2025, more than double=
the $13.7 billion invested in 2024 from 851 pacts.<br><br>
Some of the biggest deals in Q4 were for def=
ense and security robotics startups.<br><br>
German autonomous-drone specialist Quantum S=
ystems=E2=80=94which has deployed its drones for the Ukrainian army=E2=80=
=94raised $208.6 million in new funding and tripled its valuation to $3.5 b=
illion in November.<br><br>
And Forterra, a startup developing autonomou=
s robotic military vehicles, raised a $238 million Series C in November as =
well.<br><br>
Defense robotics' boom is part of a broader =
investment wave for autonomous systems. Last year, VC investments into the =
sector were up 143%.</td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-btn">
<tbody>
<tr>
<td align=3D"center" style=3D"height: 36px; b=
order-bottom: 2px solid #40C2C9"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0dHflEI4Py-2F-2FXP735Rt5v-2FjDTzMDyVA-=
3D-3DMsoq_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68=
NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJ=
VMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0=
cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKZ=
v-2BnlFSHxQPxx6I8MBlT3K7-2B0GWwEZf2i-2BlsLw6ZDtgvg89cD78wMES6J2a4Ir3FJ5yHBn=
wplevWC8GgXGNQA17b3BMLJBOfkJDIpHEFdbRTNjmsBRf1t-2BuSOxwJImYBgols6uBD0HJlD7J=
-2B-2BTuMU4dPlgu8Au1QRpWLAuhFShG-2FVsIMnb-2BxHFnyWMQ1NlWxCyGUp-2BWsAwcULzta=
2OKANBfbGutExEA1MQfq91gBo-2F29DVFOTkXX8FUXak6ze5nHvxs-2FhauvnSCW6JEeKKuqnI-=
3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-=
decoration: none; color: black; padding-left: 3px" target=3D"_blank" univer=
sal=3D"true">Get the debut report<img height=3D"24" src=3D"https://fonts.pi=
tchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; ma=
rgin-left: 8px;" width=3D"24"> </a></td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;=
"> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
<tr>
<td colspan=3D"2" style=3D"padding: 0 20px;">
<table class=3D" " lang=3D"x-news-=
group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid=
th: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td style=3D"padding-bottom: 25px;">
<table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
=
border-bottom: 1px=
solid #C3C3C3;
=
">
<tbody>
<tr>
<td style=3D"padding: 1px 0 0 0; line-height:=
0;"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel=
ated article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c=
lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0d=
HflEI4PYaeh8JfS1frNOkWZfPVUSg-3D-3DrpRC_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY=
L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4b=
OJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbg=
ZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZm=
nwVjPp-2FIEgBxwQV4Y11azZEyNwKeydZc1mdBpBCPkNXD1m9-2B1Y0YgThMZaVMP7trJzF3ORt=
hQ5Rr83SLIMjo0Y2-2BKwEMvA4KPtAAQGaRLGdOScJv-2F2TTWYxaXYMhn5cTWwDyuOn9w5Xgb4=
x6C6kQly6HjKwW7CWJcV1ZkhzY8DKqrYtld1jMREgDKIjcdkHnAKFa5hszPAIpFUaUxSpQpRPnA=
FBCjECQSdlH95odUuPar1waT2X7mVvqSzuRDM3S-2BdVhMYZ6QHjYrtcji32EdeNmf-2B7-2FN-=
2FbEUHbYNZ3k3v7MnthG4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"=
true">Autonomy investments prove prescient amid Iran conflict</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Side Letters</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma=
rt reads that caught our eye.</i><br><br>
=E2=80=A2 <b>When you lose oil supply, you b=
orrow barrels from the future.</b> Oil is still moving selectively through =
the Strait of Hormuz at Iran's discretion. How are markets reacting? [<a hr=
ef=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw=
7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0dHflEI4PGzOPYEYG4O5uG5eGT74q6A-=
3D-3DSXQ6_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68=
NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJ=
VMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0=
cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKe=
abshCJpw3D-2BTejTlM3-2FtEjHwCzOvrXCLjJbmEiRWDVWxQDerQW5RIlnOAjbs0bXXCKnryPQ=
eX-2F7cvF39oAhSbsg2Ejf2DL7O9U2eNnNPBYazW9hkftVZ-2BK7vX8HAvEL36KpUtTYAF1fm3H=
5FLQgIlqKpHo9rrMInLhD76Ykry79Nrd5UCYPSoPXffoOpkSaxrHH6fuLFA0y1Uj-2FxPqzG22W=
N-2BvHInKpJ7w0wEm-2BG5gkRwj8MBxwfLZSphjeTV0KAvBEcGqci1tgWvbNO1Lrgs-3D" styl=
e=3D"color: #1D5080;" test=3D"">The Carlyle Group</a>]<br><br>
=E2=80=A2 <b>How one startup crowdsourced ma=
p data from Pok=C3=A9mon Go.</b> Over the last decade, Pok=C3=A9mon Go play=
ers have helped build a massive physical-world dataset that is now being us=
ed for delivery robots. [<a href=3D"https://url6380.news.pitchbook.com/ls/c=
lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsIRoxFgm6gmQ0d=
HflEI4PUPNK1xUgw0taqkzTKZziPw-3D-3Ds_V0_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY=
L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4b=
OJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbg=
ZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZm=
nwVjPp-2FIEgBxwQV4Y11azZEyNwKQ5VeDcWWcHXgCWbxu-2BiOA-2BBQ38JFkc01Jsod4Tol-2=
B-2F-2BKf4j6YGmxJRGtIe0DgQ9EZ3MRTCzyngkKs8LsmQieAYX26NMBRFOvjqjrOrB1VC5HRXm=
BXy-2F1lt8pMTVjRwqZ4yLvvygxKTcWOlXt4Nlk2ke7moiNAQpGJw3Sg-2FIglz1XTQiSmk6GEB=
KQJgj3qRDHfynUhntDK5wWKPcP32wkXM1FRCnfOCAKbcft5nW9oovhQJOVaB2dYP9pqWAif0fGR=
YeWK1CFkYvV1jk4L79Bys-3D" style=3D"color: #1D5080;" test=3D"">Fortune</a>]<=
br><br>
=E2=80=A2 <b>The physical bank card may be h=
eading in the same direction as the checkbook</b> as more consumers lean in=
to digital payments. [<a href=3D"https://url6380.news.pitchbook.com/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX=
5ymtFV0KRrGWzAqNsVYoNjPj5Q-3D-3Do4hw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y=
QP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC=
0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeY=
o2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwV=
jPp-2FIEgBxwQV4Y11azZEyNwKW6oxOH73bV2rukQrwYP1xT2QOyk-2FaV9Pay0Qqhhvj4NVtbp=
BmIzWxupGUV87jDbuOTZomKMemqs323zHekNNqCp0yaqikne25ls2BnG9JgGxPkgru8G0HIc-2F=
nbaCw2TnU8rMN-2BRvBFhEqYI-2FD2l7lfpqqthaJ4MhdPKt-2FqtC-2BYmtA-2FlkXBiihkfnY=
zGnAWdDJkxxlL1-2BWzTGsgj8nB6-2Bj-2BpNJIrSs6cA03ZNOmq1kpMBp1gMRB3cv-2FsZxdUi=
AWrgO8riIlZ-2FPoCgUD8fwhrSDo-3D" style=3D"color: #1D5080;" test=3D"">Financ=
ial Times</a>]</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td lang=3D"x-advertisement" style=3D"padding-bottom: =
20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX5ymtMvYFNIM8YnsBqh5uAYLoGw-3D-3DND0=
W_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKSLB0dACp5=
dY4U6yqmKc0geFYK5CZmlwBdsqDqRH4-2BkhMW0RYO7AOqzEdBwpBYzD8DRCaf30nGoNlwoeoLd=
8hYzRP66PDAwkzyMV4lDB5sQBqqLJ1P2uIEOITqw0R4w85uaqrIEpgcAGMfyJu8ZA0k-2BMZpbc=
cenXtJZJnqinAmrk2NyRPWQ3P53MImiUQcrBQK8RKgVraeV2CJEZEkr2w-2Fw5OI5S7aJUvLwRs=
bx87LcexFgDNKCo3G7ed113bz1xVDEJOo5P4u15B1Eu1Os0zi4-3D"><img width=3D"460" s=
rc=3D"https://img.pitchbook.com/ads/ad4501/Monroecapjan.jpg" alt=3D"Ads" st=
yle=3D"padding: 0px; margin: 0px; border: 0px; display: block; width: 100%;=
height: auto;"></a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D=
"0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 5px; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-counts-title" cellpadding=3D"0" cell=
spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td align=3D"center" style=3D"font-family: Roboto,=
Arial, sans-serif; font-weight: 700;
font-size: 14px; line-height: 27px;=
color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr=
ap;">Since yesterday, the PitchBook Platform added:</td>
</tr>
<tr>
<td>
<table lang=3D"x-counts-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t=
able-layout: fixed;">
<tbody>
<tr>
<td style=3D"display: inline-block; width: 25%=
; min-width: 25%;
text-align: center; flo=
at: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
583
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Deals
</div></td>
<td style=3D"display: inline-block; min-width:=
25%;
width: 25%; text-align:=
center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
1965
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
People
</div></td>
<td style=3D"display: inline-block; width: 25%=
;
min-width: 25%; text-al=
ign: center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
888
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Companies
</div></td>
<td style=3D"display: inline-block; width: 25%=
;
min-width: 25%; text-al=
ign: center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
15
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Funds
</div></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table lang=3D"x-counts-btn" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"height: 25px; line-height: 25px;"=
></td>
</tr>
<tr>
<td align=3D"center" style=3D"padding-bottom: =
13.3px;"><!--[if mso]>
<v:roundrect xmlns:v=3D"urn=
:schemas-microsoft-com:vml"
xmlns:w=3D"urn=
:schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria=
l"
style=3D"heigh=
t:43px;v-text-anchor:middle;width:148px;"
arcsize=3D"50%=
"
strokecolor=3D=
"#F79B3E"
fillcolor=3D"#=
F79B3E">
<w:anchorlock/>
<center style=3D"color:=
#000000;
font-fami=
ly:Roboto, Arial, sans-serif;
font-size=
:12px;">
Request a free tria=
l
</center>
</v:roundrect>
<![endif]--> <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX5ymtNqvifW8ZG43nNYKoDTuAtg-3D-3DkKu=
g_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKSffFoIq-2=
FutTi1eLOdUrOTcU9wfbmZzFQsounPH1qj4n2KNDrTqFUksmL7MKONPMGfTSbI1S0eMKO3hrYyb=
hGzkxv0mMmVzYLiDC0m07DRbm-2FV6L-2BArclmzxqdiXNXiu8kNG0gJDBhLoKgBK8tGtUiUFoh=
Xyh-2F-2BZSHH4xD8q-2Btlpx3enu1VqZT54kE3jZyhxRM5WQNz-2FGsbHb8ZFR5uYdWAwmQ-2F=
CqIgDkTBnaE1s7ne5fRE2C3sd3FEdxpGiwPEXuSSIoW-2FeGR4QjWp07IANJl0-3D" target=
=3D"_blank" style=3D"display: block;
font-family: Robo=
to, Arial, sans-serif;
font-size: 12px;
color: #000000;
text-decoration: =
none;
line-height: 24px=
;
text-align: cente=
r;
padding: 9.5px 21=
.5px;
border-radius: 99=
9px;
background-color:=
#F79B3E;
width: 150px;
mso-hide: all;"> =
Request a free trial </a> </td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;"=
></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td height=3D"20" style=3D"line-height: 20px;"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_578843" id=3D"n_578843" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> The Daily Benchmark: 2019 Vint=
age Global Secondaries Funds </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table cellpadding=3D"0" cellspacing=3D"0" lang=
=3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: =
10px; min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td style=3D"font-size: 16px; font-weight: 700=
; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1=
0px;">Median IRR</td>
</tr>
<tr>
<td style=3D"padding: 0 0 20px 0;">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 81.57142857142856%; mi=
n-width: 81.57142857142856%; max-width: 81.57142857142856%; background-colo=
r: #1D5080;">
<tbody>
<tr>
<td align=3D"right" style=3D"padding: 0 4px 0=
0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">17.13%</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"font-size: 16px; font-weight: 700=
; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1=
0px;">Top Quartile IRR </td>
</tr>
<tr>
<td style=3D"padding: 0 0 12px 0;">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 100%; min-width: 100%;=
max-width: 100%; background-color: #40C2C9;">
<tbody>
<tr>
<td align=3D"right" style=3D"padding: 0 4px 0=
0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">21.00%</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-cash-multiples" style=3D"min-width: 100%; table-layout=
: fixed;" width=3D"100%">
<tbody>
<tr>
<td align=3D"center" valign=3D"middle">
<div style=3D"font-family: Roboto, Arial, san=
s-serif; font-weight: 700; color: #1D5080; font-size: 18px; line-height: 27=
px; padding-top: 5px; padding-bottom: 5px; float: none;">
0.47x
</div>
<div style=3D"font-family: Roboto, Arial, san=
s-serif; color: #000000; font-size: 16px; padding: 0 0 30px 0; float: none;=
">
Median DPI
</div></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-performers" style=3D"min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-title" lang=3D"x-performer-title" style=3D"co=
lor: #000000; min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 0 10px 0 =
5px; line-height: 24px; font-size: 14px; font-weight: 700;
font-family: Roboto, Arial, sans-serif;" width=3D"80%">Select top performe=
rs</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzVOfW9STUgFEPsoXxuX5ymtIVVYMUDJqZwowhMXzjf3zA-3D-3DsaQH_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7=
uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloIm=
V2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3=
ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKY3CCOQqmgF0AfAc3MPVzfK7wFi=
QndNh6TFNdqlZSx1n8r0-2BSFWifTrsuiHGzrUt4I3t8bGI3hC8ZzVatOluW1SB28Nel4Z-2Fa3=
uOA7GngBJ9S6K-2BWzPkru8RmZfenMb-2BW3gvsYnMZCx8anhvd-2BpE85OCfhtG6p2EMX9dR8y=
EV5aRIPBzWv1Zgg0BHgPFhPNEb5RCFMXbk7Lp6xjWWmHwvB4x9de06Of8Bc4nXWI2H8pT4XplgN=
7x2VLzBm8FYIoRU-2B-2BPyG9o-2F96zueyYfIBSkAw-3D" style=3D"font-size: 14px; l=
ine-height: 24px; color: #1D5080;" universal=3D"true">Industry Ventures Spe=
cial Opportunities Fund III </a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzVOfW9STUgFEPsoXxuX5ymtTvHOl4gvENmjjLRdEzu-2FcA-3D-3DVFTv_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7T=
V7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXglo=
ImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkR=
C3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKRIUUod2K7xLIY3NC7E9oivKB=
-2BQ0rgWru4j6gNNRIzUd-2FvqiGTuj166z-2FZ5LkefzaHG-2B8BRuBJaLQMAtAyFY7iimgqTP=
3iWOMB1c-2FdBvv0etj0tFxhVtDshM9oAN1Cd0sStEHAxKQO5wVLWooEVQ3LIYg2KujNC7n-2Fn=
apxj34FkEONzyOnYXXq9wBmUo6DQx6QZ4IZia8JvyBcNLroY7l-2FlFHBoqc6XrOoBbs12B93qx=
BH3yRsgUAN6UvTlC8uEWHYjBv5-2F2fVjf9AlBh2A4UMw-3D" style=3D"font-size: 14px;=
line-height: 24px; color: #1D5080;" universal=3D"true">Banner Ridge Second=
ary Fund III </a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzVOfW9STUgFEPsoXxuX5ymtgSKChVucZjGrVQpCduScYQ-3D-3DfsCi_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7=
uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloIm=
V2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3=
ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKU4EYusErBocFVEpb-2BxJJfiVJ=
bmUFbTTeCpRcnw-2FXV2dcj7R7RlkeWxQoQRhJfC7maOa4bBNvWiKjveF-2BC86jcEZrh6a7zIB=
CThIajCa-2FA9Y0AGTyt6-2F78huTAh2wxUX0bqjPiKWAbtjI3xWouRikOK4xmBIjlSLagYThq1=
npFNS7EaRdGCgp6ay-2BD4C8Fl8lfab3oIHQdtkJUDSab1cgsv6-2F1EMAs-2BnnYv0ejRSBnMA=
tINheC3XGvJprMzC7ZTvExUZaBI-2Fl9nhRJe7g2WAi28-3D" style=3D"font-size: 14px;=
line-height: 24px; color: #1D5080;" universal=3D"true">Blackstone Strategi=
c Partners Secondaries VIII </a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"font-size: 14px; color: #78766F; =
padding: 25px 0 5px 5px;
font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td>
</tr>
<tr>
<td style=3D"color: #1D5080; padding: 25px 0 2=
0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX5ymttnOLpw=
jXdwJG2Q4yxo-2F7Iw-3D-3DlrHv_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4=
BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCU=
Hxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cu=
QMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIE=
gBxwQV4Y11azZEyNwKRIgFv4H60t2HaokrkD6aCxBUZcT2KCKq-2Fg8C351a5JBbwTE0Uzx-2FP=
p8gKLhCQl3VW08qeIBaskTRZ6HdGWdr0uLRlGYD2fIk8oJiR2FicB9NWgNGf5QAUtf8Ib-2BDU2=
84Bo2uWacBafhjD-2F33tjBXTCh7SeQnkiiySSm5lcUiOEOQtXBuOba92O-2BHAycYkbMpdXpHO=
oJrWxXzhO1q7hyXt1wQ8qAoyCltvXBJn7AnCQar2X0HgkKOz-2Bji-2BctXtGkGAC6NhHvE2SEQ=
mEK60V-2FgGI-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: #1=
D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal=3D"=
true">14 Funds in Benchmark =C2=BB </a></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check =
out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/=
uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVOfW9ST=
UgFEPsoXxuX5ymtYqd19KudgKggK3LXOUe5WQ-3D-3DOKg0_Pr966knuaHmaw6c7pKvB-2BCEiD=
nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZ=
e3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7y=
L0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ=
3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKeLBkqimjA0-2FxpK2eFTDEM-2FCh-2B1-2FdSe=
6A9NFQOyCHNNVoR2N5pFRQ2w96LRArruJK636dDJjUhRiY7Qrx0ANL4qlElcocIDehD9-2BcwbR=
UvZpkodUMxybUebSgz-2Fbdf6cUnPTqKjRqZUE7NfiSVgDPfWdud-2BK5vm6G-2B2-2Fpe-2Fjq=
l8RCEnafLk8aVVPz-2BjyZaHcZpPn-2BZi7KnAvcO-2BBHjGixLFUgb5OEVCZCRe7aiApC1vqyi=
t9RQ-2FfmbRBcUyjUlS2qJwMznwBOTtLWOqbnV4pDDw-3D" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br>
</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td lang=3D"x-advertisement" style=3D"padding-bottom: =
20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX5ymtwfY1MVDutrHwawqCMPmXJQ-3D-3DA5v=
N_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKW6JRNneHa=
PhmhHwCVygrAXSjZesz-2FJbBU88OxnjKQtvajezEQkIEgSZexBTljnoS0XXdiXeJBdT0ioqprM=
FXQlbkGX1lRTyyysf4mc4DsSv6wZXiNWmlq6kgXhqS3dPvUa-2FQKmQHY0U2HmSauCjiftsjR6y=
a7H-2BcHGEpiQxyccb4a3rTtxvVUOoTcjKpibiF5JslQfZFrH6MLpVffdkleg13l835cXh9nbCu=
-2Bhl2ZdVarJ6Sep0BaPiQRtX15rxHN6suPOAUDuhQEnbMNjNn-2FE-3D"><img width=3D"46=
0" src=3D"https://img.pitchbook.com/ads/ad4498/Churchillhbamarch2.png" alt=
=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: block; w=
idth: 100%; height: auto;"></a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>People</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Asset =
manager <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVOfW9STUgFEPsoXxuX5ymt-2F6hM=
OuSKTU-2BKk0yWJOHH8g-3D-3DQ3ch_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH=
R4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDa=
CUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9=
cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2F=
IEgBxwQV4Y11azZEyNwKbCTkpYBzhNjEa97bOKIJUt0shlTsZfQtQKsnb-2FQTbkdJzNhpjIWB1=
6G0a1nQyTDQ34dwBsyxgSaf2sMi7DDMyNbn8X1S6TQ2nAopYCLMBdrEHC8GvCCUCR9vf4kB3xnH=
QKrjQHZBBWUUS7NmHlFzBC0-2Bq-2Bs2Hi0I3GZ8qHGuG1EV59apFEfAoxGjjkKQJJ4GWysBFnK=
BIepIoMucqG89kP9uY4Hp1WoN85u-2FYSXg3mAWRFGnKnTcv6Yz2C4Yd4Xiv687Pe04kYxP3yMO=
NUWFxs-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">HighVista=
Strategies</a> appointed <b><a href=3D"https://url6380.news.pitchbook.com/=
uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDY=
DDJw0C-2BTYNo0OcgVfGG6FmqrBZeBMX0VytEIg-3D-3DKUnN_Pr966knuaHmaw6c7pKvB-2BCE=
iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZ=
UZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz=
7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmk=
FZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKTpiL9cNFXxGwpVvRj3aELDG-2FoD95fhSk4t=
AqdZgYL2EVL9-2Bti7i2l7bmWfYtNlO2VAkz-2BJZlcB4QtwK7L6TI-2F6SEToXmB-2FSuWaFac=
Urn-2BbmFBZeDpwGyk8w-2BlCKi5erEYWXEupLY1ELbra3zyKSY5h582FzqQqFQhXsnQloAp4c-=
2Bc1momU6bRAM2QuMuVW24xiYWxmQxZeYuu7rlZ4QAYSiG1wUs-2FlY8PjMgi10PxBJHnLYBorl=
gADz4jtFaWX0zNFz0TSFUaZanvs8YoWTz2Q-3D" style=3D"color: #1D5080;" test=3D""=
universal=3D"true">Raudel Yanez</a></b> as managing director and head of P=
E secondaries.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDYDDJw=
0C-2BTYNo0Ocgfs4WqMmDLsZiSu3ZyiqkTg-3D-3DvMZZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3=
SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0=
fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3g=
SnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKROZWA57fbMLH-2FLzkzAkuKdKsGqND1w8aLnNYN7=
8sL2Y-2FZGPsus2-2FTtIhlyyhsbkhDc6-2FzkN5SbW4JGLJS44vXqkgfi-2BoBNVuqli0pPB-2=
BSi9-2B60O8VTZC0zhzzYLPy6llL72PG48Tsy-2BhEvl2pvA006iZyyYChLZj2MbUJCJh9-2Fdd=
oP2ZcxHJnGGnZC-2FFXsxISQVIYCQAJ1vcnV8T3NQ4KSDn3H92N6x3rOM0n2LviAH1NWJs0FcQq=
yo4UPIcRb6I-2BmuYR6zPpC0DY2nkR1ivs8-3D" style=3D"color: #1D5080;" test=3D""=
universal=3D"true">Carl Eschenbach</a></b> rejoined <a href=3D"https://url=
6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-=
2BaqM7ONnvsnswouzW28QVDYDDJw0C-2BTYNo0OcgPUAj60sqn9xqUE9-2B926KCA-3D-3DptJt=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4=
CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6=
uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2=
FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKZnMgYglg-2=
BOae-2FOnuXFggMulhd4-2BmLrcKaO6nUKsMWGIyNFaGSOkw-2B7YuxQfkD8BTaxFr2Ac9c3HnL=
aU-2B-2FRMW6OfYhw7ot6kTnt3Xu4ANJ8-2B-2FegO6GgKedK5tuYGfcNa3-2F7bv7C1HAo4y4l=
xa0JHIGR320u2j6CPtkjUxajTzFWCxmZVlT8x-2BRd1-2BeKH4Cjn1SFzJitq-2BW778nUvZXMs=
FNzocAJiPOGr2yGHyOFoFXNitUqbPaEx-2BWFHppepmLLkpfHPFUtKvtohvGGzPS-2B6iY8-3D"=
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Sequoia</a> as a pa=
rtner and will be stepping down from his role as CEO at <a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzW28QVDYDDJw0C-2BTYNo0OcgL-2BEZRNsXRuhZp8ui46l3pg-3D-3DM=
Hly_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf5=
4g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQY=
yy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3Ngp=
P-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKTOkAYlR=
b-2BhuXfGpWkRQtySZNJKqsmN-2FavSp0hsiOsUPZvs2iSRtjsaTELL8K-2BmE7Pvag25hhTFOi=
8hOpBEByQ4B4sbeEKEuTzPHjoN-2FkdBiKL6aXPLZsS9JdbNsIr3u1mkBALqfyAUr9LKj-2F1-2=
Bp-2FgSRV4AOBjtCbEJ3lnsw96fWhcfPCYGt2rydg4Egyp202Ax9RAnBHNsE72NNddPPsMKpval=
31tjmdGnVyEa3cS4iNlZ1-2F7wOFFYv0QhiHDBLN-2BEGFcEaby7x7z2WOtnj7mQ-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Workday</a>.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>VC Deals</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDYDDJw0C-2BTYNo0OcgCdlyd-2B-2Bk76W=
dIzZy9YR7kw-3D-3Dz0GB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2R=
Puxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQi=
gelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4=
Y11azZEyNwKS9t8o50uz-2FQRtNFBJd2ZBv2-2FbvJ-2BEmpeu6GlvAdGNUSIM3utqVaMXnITI7=
Z1yZXZKapyXDdtrNB98-2FlKhu61vubQTKTdUJeDsPaYBEucsu8e8zPDP197lH6WC53aUq7tZux=
2omC6CE7w-2FEflgZ0ypj3Hsu-2FXgXzO-2FF7Dv-2FheJdT-2FHR85BKKw-2Fn8qggtQlBepd4=
mvedjGSS05sYQGnoZhVmgz3PNe4cXQBZ2SjZI0hCOetdtSnkxlY1cX2lR8FVsI1EZEEfgwJGPl6=
CFDBJ37mo-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Cloake=
d</a></b>, the developer of consumer privacy and security tools, raised a $=
375 million Series B led by <a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDYD=
DJw0C-2BTYNo0OcgtGYBGf-2FVOKdWvVTIDVXWbw-3D-3DwCdG_Pr966knuaHmaw6c7pKvB-2BC=
EiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5K=
ZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ys=
z7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJm=
kFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKbUwZJkotqYG00T-2BS-2B1TbvkQYk-2B6jq=
25epHUFzJvBDh0LFXQkusdUTnFcA91lz0Og035ji5XQZ4AgvXzz95K2f0NEO1dMMHzxdEYuNCXT=
PMN33CjVMyUxnR45qUhUMc4hV7jxC6HyCFaJCH3k8VHRegsp-2FcqTjt5QnFusplHQK9z2Ej8jC=
iF6pXBArA4X4sLy-2BSp0KK99XKNCFK2yMpgRlCoc9thcgBgA1LjWvYxDnZb4RwWVsBeLT86m1R=
2RW865v8zQYlPpG4xamAYX-2BvguF4-3D" style=3D"color: #1D5080;" test=3D"" univ=
ersal=3D"true">General Catalyst</a> and <a href=3D"https://url6380.news.pit=
chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzW28QVDYDDJw0C-2BTYNo0Ocg4tyBa7yGK-2BSbzWmTbSyYkA-3D-3DCbF3_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7=
TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgl=
oImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpk=
RC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKc3XRhXGF7CfPscSukJt7F1P=
5w-2BPh9-2B-2B1URrG8xIDDcgVDW5tcxWYOHy92EdQe4sGrgoo2A5d-2Bi2P5moWodXJm8yZAw=
rd8xJCvDyUSUAs7QH1VUN8sViQe404tBiRstHWxrjac4sm-2BgXjtCj0ovJVAglduwFka8D8oJm=
k8880JSkiSCvhiEN6GV-2FdWe-2F3y4QKNqMiO7Kku-2FdKca2saxKDrJh-2Bk2m2wuGcc6s9aS=
WEGCEwONui8T9NF6GN13lARx5vCaeToyCQsifpH7HGZ3J1iw-3D" style=3D"color: #1D508=
0;" test=3D"" universal=3D"true">Liberty City Ventures</a>.<br><br>
San Francisco-based <b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzW28QVDYDDJw0C-2BTYNo0Ocgh1OYmgCYaRu-2FcMH4QAKiFw-3D-3D1tQ=
A_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKTBszTsJGf=
a5-2Fev5znx4c2xIHETnEzSTizTgDZGZdkoAy2XdS18ODwBfx3LOAipOtuQ3nO0wJMKciq-2B4e=
vmYc450t4yAmCbVwLIFbjWTWbOUlxw-2BonSgV0aotS4W5UyGGYdF32wvNFx2aQ9Q-2FuRuz3AK=
Bklbf7a-2FCfFDgwkInz6ARHss13WnbUuz3wDj2h-2F6Maz98-2FkyM2gsfrUmgo9pwY3gnLx4j=
Hd-2FwNKAzXLTJAIUqaXXqisT6-2BsUPOcxJG0o987SJkirGKF-2FipE6jsUtwdY-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Fal</a></b>, which operat=
es a cloud service for AI video generation models, is in talks to raise bet=
ween $300 million and $350 million in a new round at an $8 billion valuatio=
n, The Information reported.<br><br><b><a href=3D"https://url6380.news.pitc=
hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw=
ouzW28QVDYDDJw0C-2BTYNo0OcgqRJpQcT163BeF01HYfWsGQ-3D-3D4tG6_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7=
uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloIm=
V2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3=
ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYk2fXGib2fmSwLqoDVzucO-2BC=
bv2i6tHFFG3WC8eYwKUoBf6f4tVgSwFRrprgvnf1WAm4gjQajqDv4oWS-2Bp2Kk0MGgqXIYLaw0=
3cMLhAiCBaoRLVga4tRe9mq-2FtJ7rJSuEneXbOaCW16AHzmLxK2uBmF3ckh9jscJhFQRFmW7rc=
BSDPktatobjgOZMtqBiHhdKFIANARIX-2FRFy7reckWwA56y0VXFZEEUoDHftkLaEihO0k1ssG1=
YxDJXLUTY-2Bl9cQC6ELH4Obf7zzyNMzoPd-2FU-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Arc Boat Company</a></b>, a startup developing ele=
ctric boats for commercial and defense uses, secured a $50 million Series C=
from investors including <a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDYDDJ=
w0C-2BTYNo0Ocg2vB8SnpmpxAhKWDviioARA-3D-3DBtLB_Pr966knuaHmaw6c7pKvB-2BCEiDn=
j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe=
3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL=
0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3=
gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKUmpU-2FXu70F-2FbhNPA-2FWzAe2697L-2FJXfi=
9-2FmRiqwDI-2FYQz1KDssOfbg7kwgD3urNbO-2FNrVKnponG2saU8Q9JBR3fwD6f4f2cuRrD-2=
FDL8p2ncayxOr9QZJSezNWvACfgwvHtzeKy2QjrNVEYMUcSquBbku-2Fy-2BZvOoKTRGb87Pf4B=
ODWYj6fQK8EKsGhBIE3vr45xgAewORq6sL5e6Tl7AiVsk8yRbpjKJkfUk9k6NgC7rYDlOfxZnn5=
-2BW8e8VXtoAOZqjlz-2BmktKtw3qU8wmvoLXs-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Eclipse</a>, <a href=3D"https://url6380.news.pitch=
book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo=
uzV0wMBp9KutNo0ZE-2FUHCM4EWQ6Q8WhMNsPKivQndJ3pnQ-3D-3DYtxp_Pr966knuaHmaw6c7=
pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7u=
c5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV=
2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3I=
CMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKaaXiRkaLx24tWnpG6HVZhBxu-2F=
bXX1gsMm6oOPMzPZwCGqfVcOa6Zxt5zrw-2Fu2Jdkwo37dO3BeGAmBh-2FmV-2BY8RYULSVvpbv=
cTKDzNjMSGy6BR-2Fpi-2FejQT2wUfWBH7jQR-2BgV56HSOhhHHorwhQldxfbJrKI29Sd-2BK7x=
QsvpSOKeA1RO8-2Fk3ONKMCcFRMVeR0HJDKXvvTM6DVJdsdga26CiCQVKJIR6JeL1WBEXZVHjWt=
oy-2BgcvLaVXPgsKzM2IUoU0ggnC-2BXvgpflYKtYXkACp48-3D" style=3D"color: #1D508=
0;" test=3D"" universal=3D"true">Andreessen Horowitz</a> and <a href=3D"htt=
ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW=
Irf6GFa-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4EHIH1vG539Ph0k-2F176WIHKw-3=
D-3DCa6N_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N=
VRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJV=
MMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0c=
N3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYl=
quvxDHRHoVa5KTim-2F8sc7NNrDVdL0Igbcep0VkKoCbDvQebXfeZ9vuPKncjaeZrKSyk9TwnEY=
GIGvdyvKqNKNuajoUjoJM08XHa8CpYMOEtL34G2ZR-2FDnp4bvTg1duyv91MVIFzKFivRYhk6kA=
zPjK4-2FKyeNOiwuumcmQOmvi2Zfoy0k3Cv8HgbQkyNY9-2BaGu37oy47dWhiPE38Hs9VGkxetj=
8PfVIRZGDmB2uAF4Vsitu1-2BeBKDFWgXJVm1gLJQEBMHkUlMK3GeJiufrGSE-3D" style=3D"=
color: #1D5080;" test=3D"" universal=3D"true">Menlo Ventures</a>.<br><br><b=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4EU2-2FMpPMM2=
ST2kxFr-2Bu7abg-3D-3DVcTQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxm=
se2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMv=
FnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBx=
wQV4Y11azZEyNwKXekQ-2BWswRdX8JJSAoznAFAZNAc6-2BisvQobieC7GvOiESkRBcQnKFsyBy=
YoaUDdVuoN-2FzZTIUiTn25EPNsQkNmfswioSWcPWUr89JlMLkXbtS7T0PnQcdB5Y-2Bj932-2F=
mXwXP3WEk8Rmdqe-2BsvnkYu0cYKB-2FRcpNwUhbD3iUWzwmZIBwXiFaneZqbfL-2Bk9XBVIeCj=
uH-2Fp2fFj6dRi6LyirlJQM31Wkf0l9lHdseom5-2FvSM5QgM5w5fnygIOvVtnbUSDLEbOlErJi=
TU5HQlEkb2-2FIw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">=
Deeptune</a></b>, the developer of reinforcement learning environments for =
AI agents, received a $43 million Series A led by <a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4EWQ6Q8WhMNsPKivQndJ3pnQ-3D-3D7s_-_Pr96=
6knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZN=
HVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENur=
lecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3=
XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKZJzooW123dQt21c=
zzn1OgKnBq51riwHpuIcu1QQmm1VBQ-2B20O7VPSpWc62LYA1VGX-2F8NWdOw9t475ssf2dAAz8=
guxfmxMDoIY-2FRM-2B2k2VCSp5CzxyUPw6uIa-2Bo5dkktuzCBuTZYtp0JL4LvCdsrDuMyExv-=
2BkSyX4bemBslnkEJhXmfwVG4A0lqLIF33NC3r-2BzMaJq40KUGOBroj3Gh9ip4tOjBtfzs5cxY=
sr4DbeSu4sj-2FgiX-2Frv9n97eEHc7xp3ZZuOk-2BXJBup14xfxejS3LA-3D" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">Andreessen Horowitz</a>.<br><br>
Biotech company <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4Ey7P6BVAoByZNy9NZpuhBHQ-3D-3Dpryf_Pr96=
6knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZN=
HVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENur=
lecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3=
XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYoPh6H3nW0NmeaR=
mANoX9nH6KUzv-2B0Hzbk8buFcxl4QRJu2EHPZ77Ezr2sNPHhuoippBNMConl53r51pCWmakVJX=
YPWjiw8YLqewy7gfvdwy3URNxA11WBqEbZ6RC8IWjvXf82GmAMz7xwVDY-2FTxKOVjYxIC7HuPV=
V-2BRQ-2Bo1DYbX8zjh-2FigY2mNYgA7uwYAYBHf5gPmf7WOn0SK-2Bx9KDiF-2BkLjyKUIaCAX=
fPF8LXDQpHEMbmtLy6y8iVeTMm6XvBw1BA7UQdwBewSLSaa5ypH4-3D" style=3D"color: #1=
D5080;" test=3D"" universal=3D"true">Congruence Therapeutics</a></b>, which=
focuses on treating conditions including obesity and Parkinson's disease, =
secured a $39.5 million round led by <a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zV0wMBp9KutNo0ZE-2FUHCM4EftIGsBcDramq6BLKxRB71g-3D-3Da1rt_Pr966knuaHmaw6c7p=
KvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc=
5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2=
gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3IC=
MN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYBAsrltonYs5eudG-2FqugUr7QyB=
-2B-2F2jyCo7lQ3Dm0xJU-2FKEenhfoNhrQ8it0VSXF6v-2FXwrwPo0x6ATWpZ4v-2B5DOOYdHu=
ff8or3B-2BMiK2miQ7wq3K-2BeWBVIqBd-2BB1K4QVjRpbXnmoBQXTx3wWa-2F4T32hTZ8bJhJb=
q6BEPIo2aMDvzT0y6U5g9D4zQsQ7OA5iN97WFIqb8JYMZDKE71nhj1IUdlkj9uIYnpL6NCMuwHN=
gVSenFcRx8-2B-2BqjeH-2Fq7bkT1rUmcrRAlni33mQtGI9lBI8-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">Dimension</a> and <a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4EMzbUyAHqzxVWHqiGpTJLPg-3D-3D0QOD_=
Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4C=
qzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6u=
ENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2F=
jJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKdBDYHk9vlbd=
GUeMYrlJ5ibixLSwZXPKyxerxqpIGbp3TyIDamJTjdShUgUnoMRKIqvfcm6ZSHVV77JZLOrSdcA=
JUK4Roj9A9MpsWRRBjdFBcCin3ygncjNOpvmMHB9SfgyJv-2FdfduBgqxSH20eED68aOYj6hMtq=
1ehPXY1rUHocHbiyEHMDQ2EE-2BdR5enBI9qVJ2GZ0zF3LYKVk6Mb0Uu-2BMG-2FJ3tnGJKC7jy=
pmszVkqGM8KlmBK3OWWgja3U-2FpdhFvJ5X-2F8cD8rwN0UQiU3XII-3D" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">OrbiMed</a>.<br><br>
Event management platform developer <b><a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4ECuVuQf4kNrMkoC0Z8=
fDNZA-3D-3DpGfI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2=
BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtS=
tJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZ=
EyNwKWBuv081WpJj3SvAOCsdqfW7n96CUtVq2OzVT2XGBvqyEzWpXnfcw62gx3ty-2B5JunF5DM=
uI4ui2EpFI8IgmFgjQ2zLS1FRZkPSUU2735ItYP9-2Fnps-2BlnNNlRNKd0RHywyLVKX74eAjKK=
sGVRMYZFw5dNbYJkvnSPdIwJeM7z3GBC0H-2BNkRge91EXdD55cufk84h3D-2BdAukNNWMx4DtZ=
hETl-2FlwNTohHhMbTpUeJ7ebe-2FJFbcx9aJIeUyrIfOWs3YhcRwHP9pCl5eiYwwZD3wSMk-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Posh</a></b> raise=
d a $37 million Series B led by <a href=3D"https://url6380.news.pitchbook.c=
om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV0wM=
Bp9KutNo0ZE-2FUHCM4EzpX5LG3mxAOMf-2FJfMGe8XA-3D-3DmPaL_Pr966knuaHmaw6c7pKvB=
-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he=
5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqH=
v9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-=
2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKcRfNCj6tJwmqWSlf39UBfpSTEiVdB6G=
qqdI-2FTDIFkQ-2BBlw45RyjNs8WTHdnOejdVaQ1bcCBc73R2CwiJbe-2FaMuEOZ3tQcqZPl-2F=
VK5698w80TY6APGmb9qzH5q6Foj0Vm8PUDzsDqEhh8Mm9V8D4jt6SU-2FNvJafLvoO05SuejnEs=
CRw78O1u2x6KXuIgU420nIILA8ptk6oOAxWF6l7Q7Q5AxeICIKqwEQ-2Fq1lVtiXQXeTQoizI4O=
TLVrq47otV0MXnoJJLfLoZNSHmiLwhA9Vc-3D" style=3D"color: #1D5080;" test=3D"" =
universal=3D"true">FirstMark Capital</a>.<br><br>
Stockholm-based electric ferry developer <b>=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4E6wsgN0SldhKX=
BlzBUiGA8A-3D-3DI6en_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RP=
uxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQig=
elBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y=
11azZEyNwKfsP2OvgLkUAH-2BFl-2B3Rl0P1gMLDZmbhCk6viypB-2FPIbRxIJo54aeg0XbpSGK=
NZgABEbv6GHoFkdA73-2Fp0f1QEUk197GAvcEjA9PiFOfACiXgJ-2FABYSFjUEMIlSmx8hvMYRQ=
x5Ev20DuE-2B0Qq5OnaewPgEBRYp6bDHe9h42csfDUID7trfeZTXZYCUcK-2BF0c148832NPoFC=
Az6EhROrOvtbWERrbouzSmcTSHV9XIV3mlcHPv-2BQfIsevcLmCq0XnTEwYpGQI3eicaBjM2idU=
YE0A-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Candela</a>=
</b> secured =E2=82=AC30 million from investors including <a href=3D"https:=
//url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzV0wMBp9KutNo0ZE-2FUHCM4Ey-2BoH3-2Bl2u8rqb7UDBISRPQ-3D=
-3D-gj7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
Rqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVM=
McQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN=
3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKR-2=
FGvoNnfTfKzNnPoZ7EbLl46vhwN5d8aJpBzOvdn28SXuKi0fchLAj7pOHJ9QYYlaAGFpXM5tbI9=
iDWyhDcQD2d1C3MDDUxEqLLgQ6zAIa9Ygr3ccPnJgB2LLBZshwlC1rKyoVuUDl3gp3Nc6tigN5q=
iMqa1c8DIKOI4c5dZ3EHLxVA-2FvD1qXxD67aStzuu9duEF712FHf0Dr4FQbdl61Oj9aHeJ2-2B=
wteO2f8sVDMTt4whmtPm7viO-2FjE6E-2BkZuTMX4lARM0xiS3Gbl77GbZLs-3D" style=3D"c=
olor: #1D5080;" test=3D"" universal=3D"true">IFC</a>, <a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG447Q6if8t67X1AkuTPhy-2F7A-3D-3DUyN=
s_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKQg-2BJsUh=
WglSbLG8vY6F5pwIcOR9uFYjuzts8cW3X-2BSlMOYgdKG-2FhKz7eVBxFMVkGGiDDfglSfj62Db=
GGl-2BkMF69n8TfvTJAmKaRuQjgcYxmHrsK9C-2FYVf28eic4YybC3v6IUgrzAj1tlPwU5y7UVw=
3VjinjKFBzIziUMA5-2BEHruDS9N88C7Ovf7kOHFJP2FSV8VBCO4F-2Fs4aY-2FehV35TW2NpTU=
YjZ68MKxpt8HE0RuHdU8Ue-2BkLZYRKZpS8r5FBdi2cwUiG6sDIDGg5hyCqbKA-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">EQT Ventures</a> and <a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG4L7Z35AOy4b0LH5alXLU=
DQA-3D-3DKsKu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U=
YA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BA=
q7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJ=
zNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEy=
NwKSm-2BctUt1VteE-2Fd7XT7LFbzWoMoJn6AS2AV1-2FdEo9F00J0RszrRsWUMh64BVf5ji1dz=
PKQfHLV5H-2Bv8DsNlU-2FIsPgtQDHdez0YBxTiZbD2tpaB4gwl3WD6UoMsikpYcCfhhGAMpCas=
AUWYk8Wpe1H7ynmbuNTUOhwrkrbcXwym-2FkTZRNOPjf4Px9XIrE-2FZaaezceHkw0u-2BEk6fI=
Z12wLts5xxDFhXDFJ4f5zPa0G6kiz9C12gHTrJA3dnb0wDIjh3WfEmb8uUFJ597jvoYHSp5g-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">SEB</a>.<br><br><b=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG48dOyLLUNher=
dbXq6rDRIlw-3D-3DUVmf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2R=
Puxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQi=
gelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4=
Y11azZEyNwKTP5mwkm2X2AO944xE80gMx1zt5YnYh3l5uomvqgIMkmyNxZ0JQ7amkUChc6pc5h0=
0JiF2Duq2Y4WrKV-2BHm5YYLoJbmuyFHdoSGznBlaR5utXqpSaaMKW6w19uKMaqmwbPltvMCtW1=
NtxpLHKcJVQ-2B7UG0uMK6PBBskF6DK2VHzVljFW3D6GWnHepaLgpYpJYyETBKk5ntq6sC-2BGi=
kD2Nu72xfov1aNAjzptf2vTf8k3TbIb0z-2FQZLoiohfIhopW-2Bl3ra5WpeUTckferzNCdjS8-=
3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Claros</a></b>, =
the developer of a power management platform for data centers, received a $=
30 million seed round led by <a href=3D"https://url6380.news.pitchbook.com/=
uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW28QVDY=
DDJw0C-2BTYNo0OcgtGYBGf-2FVOKdWvVTIDVXWbw-3D-3DOHzy_Pr966knuaHmaw6c7pKvB-2B=
CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5=
KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Y=
sz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJ=
mkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKdapY8a-2F3j057sIxg10sEfhkapEHx5e0i=
EEhLYnyY-2B2bhw4xMYWb-2B5SutldkfFWo7nHAuVv1gbMiuuxtQrNOZc7q-2BALzu01hBBoor2=
T8e-2FkyOlS2mqY4GJzYyBSZj2-2BTiMKq2UUx5YQEX5pZBmI9AKQ5aXLn-2BZHTx6PpQZtcLBE=
w9n7M2blmyxAxJ6LRGgjISiHCTuEYhYecDvbQ6PMJ3lWOIR5Apxfodt-2Bbx4lHVtHC0e2dwF-2=
FEArlHACl7XN7N8SN-2BJVOQ1BqJa9xHyAAMPho-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">General Catalyst</a> and <a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG4gAM88sHxeYbgBDTqFU-2Ff-2Fg-3D-3Dm0PW_=
Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4C=
qzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6u=
ENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2F=
jJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKV-2FUZtv9Nu=
qudTKGCjxgg4eZO2MydSZ-2FJKdPl4wH-2BXLAlBPaUmL7NojOsZ1B7crXk7-2F-2FGKRrcxEte=
ecO7Ine9jKS7RCan3NVHmbErtwzcRMoNxghguTcJFq-2BioeHhGH6cXES0Hv4ykhL9ezh14xwpj=
QpDBQ2Ko2vOC8LYmfMTuHE0ncC-2FhCgSvvgnPKxKpwD-2FcJCS2UcfID5NBLAddZWsalwIYxXq=
P0zrgGijsMbWWsFxzEBxTX9eqkHcNzsyKePwezgA8vLBk-2B3K3gaI3RU-2Bn0-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">Red Cell Partners</a>.<br><b=
r><b>Anori</b>, which develops a platform for the construction and design a=
pproval process for buildings, spun off from <a href=3D"https://url6380.new=
s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON=
nvsnswouzWOTWxjWCr6iL911-2FugVxG4V8e06KWamEA2dhLT26a12A-3D-3D9PMF_Pr966knua=
Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItA=
MU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwc=
XgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQY=
npkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKY5xQfdLw13Edsj3dkLds=
lEJ0pq0fjauwke1L9A5OmKIkltDWnNX3sW2U-2FxTPUQX9lvaOurd0xh0oy-2FIJJ28LM7Ero7z=
I-2F22jO4rwVcTtD8UDegdftL660r3BcoTAdRIQu0RrhYFYcqUkYW85F7amzy6z1P-2F72v4J2I=
1THeAuhRx8uK29UP3sNRykuqzfXkxRTISBzNNuv-2Bi5otvD-2BM4yn5hDTxJd25FTAUvLJ5aPO=
SIeRU-2FlVNbWCeRdw98D39YiUOaw97AbgkMzAkBeOsvmS4-3D" style=3D"color: #1D5080=
;" test=3D"" universal=3D"true">Alphabet</a>'s <a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzWOTWxjWCr6iL911-2FugVxG4bENr4nuDTr5t-2FTfOiBLWiQ-3D-3D_bvX_Pr966=
knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNH=
VItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurl=
ecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3X=
XuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKRGJMfbvBIQWAXF61=
Fy6la6rsue0qhtJLamTN47w1kF2woH6FUJCWimpOjVvVRPapTcuhMGfyLTPBx2k6OO5K6e4HZBW=
TYAqWg-2FRYgC7VUk134fFrrqTv62EEjArLRagbSMprrJDzkj-2BJ10mRVsU5mkYG1PGm4P9sF0=
Umo7y1xpQin6ItVMczSWk7pQT9IoP8245aEgixqAukXQ5TUn3cTjVy9Fr-2FM-2B50SQpfFtu-2=
BXrQJOhb1rey7EsyFRB5jtdyGMUqkob51ACnNNij5VveDvU-3D" style=3D"color: #1D5080=
;" test=3D"" universal=3D"true">X</a> and raised a $26 million round led by=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG42Iy4uZ2dNUJ=
er42s9PAgzQ-3D-3DQc3N_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2R=
Puxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQi=
gelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4=
Y11azZEyNwKRXNm8QPyEcOaZDysLFJU1NeE1oed1fTnWsPyjws1-2FwCPzJo807Vq1cFxwDb9of=
04IY9A27JFXpWqNC0cZsM3HpbsKK60URPN0LjKWddPlRm-2BKeqOxaWdrcGJ3jDjtOUHdtXvb4W=
cGnShXGNIB15NhtcTbqCYzIhiXUGSzu-2Fivw4lmqSnyltGt10DvZZxK86QmbevbtWLZBGOfECw=
8ExkP1q3GS4ayB3cpFOBj7cm8XWBM4D-2B6F3ESKCkq0feThsymwRYhzBrNrhbmrb9W-2BaJEA-=
3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Prologis</a>.<br=
><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG480I9=
YU4TlC60HoNx13P3-2Bg-3D-3DBiu1_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH=
R4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDa=
CUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9=
cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2F=
IEgBxwQV4Y11azZEyNwKRdL0ewPay0HTxbEDBf4a3jlgaj-2BndqZk5ePyfvp34SxZj5CN8Uya2=
Afmij2sq9xGhm8lzNrE16RcShIESC4bRfhL5-2FDmPMzyM2EAhkLoZopNwU6GL8BPExPzlaEY9f=
Zo2UF-2Fqh-2Bz8j1dpPZbwofXDMPb6lATnFvoG37E2j9msUUYpFLRfofL4hJZfUaHnMLVadqV-=
2Fpw208lVNK3rXxyYeGEAzdBD9fytkr9D8yLzNBRh-2FD3IH37rODDIieL3nilAB-2BIdt3uNP-=
2Bz5GL1Tpb-2FNJ8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>Parallel</a></b>, a Paris-based startup building AI agents for hospitals, =
closed a $20 million Series A led by <a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zWOTWxjWCr6iL911-2FugVxG40hXGRM-2F5QlLbwK1Kr5jsOg-3D-3DoEeZ_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7=
uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloIm=
V2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3=
ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKcCA68Ykam4b-2FaTP1r7ueXkCJ=
-2BZMJX3jCHHEViOnSKLTchV2pEqUZsg2ToSjaQW50pj2eAUHsWdAlPTdA31otwJiOFQEQ8pyAb=
moBSQ0NAbf-2FaQP-2F-2F-2FGzW6mMMo0wJE9O8PTpUmUVvbZ7mqpuXIYGQj8-2BG4rPsKNiDK=
JNxNZbqcrlEXPqWBpwVQOLsUXturEMoppK3fTgBZLXdpvQkJ4OLG7oZdgaVa6ibAJcyx-2B9Mdu=
H21dS42GuYL0-2B97s7LDfdlr7-2FgcDm8TFBBvMjfdkqV4-3D" style=3D"color: #1D5080=
;" test=3D"" universal=3D"true">Index Ventures</a>.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td lang=3D"x-advertisement" style=3D"padding-bottom: =
20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzWOTWxjWCr6iL911-2FugVxG4PBJKPOvt9Z8uyNKEiuavQg-3D-3DN=
lJ3_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf5=
4g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQY=
yy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3Ngp=
P-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKfDXAmRM=
T7AmPpQPUZGAN9FIHHBep8hkBBMyAm1AYzcnruX7F0exWLd9rgOeFdYCl5h12MgR9ZqO4sxnHJP=
W-2BSkKqrZ9RxaEX-2BPEBXZaBsWN5oFRMiIBiYcWzmU-2FX-2BtpDO7sFI3y8jpyNYplkug3Da=
0apvA3NTKsKOP5gfe5IeMg-2BMGiXyIr6I7u3S52Qkolu0PblOnHu-2BSkRklsJOx8sevKrQEBW=
EZmIl6k-2FIXvfHEQyRk6Ya2TYUkEnrJYEbl0-2F3DUxD8J83rnbMv-2BWjU-2FuKM-3D"><img=
width=3D"460" src=3D"https://img.pitchbook.com/ads/ad4511/Horizontal-460x1=
20-2.png" alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; disp=
lay: block; width: 100%; height: auto;"></a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>PE Deals</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6GhWtUa7YM6YpRJ-2Bf=
2s0zEw-3D-3DWNat_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV=
f8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-=
2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBt=
StJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11az=
ZEyNwKQli-2BXpKRgXsIjDtwGyRIWoLnVzAblMvOZ61WhUaS6GaFvpm-2FIJgv9t3lNiNscl1SJ=
0LuxvGfTsMCuUIyQXNbCAsVEqYtsyCCUPL2Iyu6QJWxvw9wM114ReaxDO4tzr5Tx0XJ6549-2FU=
0YAZU-2FsizmUAzApZqzrZBAHlsu0YrYPbo04uFabjIjgq1HCLL1mqQSOASkJu-2FCMkSwEE9xx=
-2BuxBeW-2FB-2FPpY93u7GGbFoc-2BevBk-2F47l-2BVFrFpQk3H4LnPVjJuMUpJKp9OHupusq=
eGXEWA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Oaktree C=
apital Management</a>-backed <b><a href=3D"https://url6380.news.pitchbook.c=
om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW=
-2Bpwdpw74FkJXhsAkG6mh6JAgV-2BQ-2Fcrjs07ZZRoyw-3D-3DV8qf_Pr966knuaHmaw6c7pK=
vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5=
he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2g=
qHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICM=
N-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKa-2BRIEWyBvS48v9-2Fcz7Fc-2FQU=
nKqs9zTD6SlxGPMi4qWXjjDfEkUSZh2o4Er6dv8xTp-2FSpY29dyiz0MiKJ3bOkXQ41sxO4O7yc=
Or47mxP-2FZVQYENeXwiAT-2BsvpYzwqYOhLNRnghFDODIBdOyfGoa-2FjSgR46-2FEvQoB-2FP=
vb-2BuOxO-2Bl9RBsuKCngaap-2FnzbJwQLc-2FiZsTenuFa1DXHsDIQg-2BQOx5PXZfPqbUUMA=
vo-2BNMPK0QMnJN8AuJ-2B6h7WNl19gHcU6ey1gkdAV-2F8v4NCYJ98PVk-3D" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">RedCat</a></b> is considering ne=
w funding in a deal that could value the UK hospitality company at several =
hundred million pounds, Bloomberg reported.<br><br><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6LTxC2gSuw5aRwUuiRRX-2BnA-3D-3DQtuw_P=
r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4Cq=
zZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uE=
NurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2Fj=
Js3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKWAAx0-2FJoe0=
cYrvAd7idvhATBwTG3FxZLA4KQqm6lKUv5edFbhTJCIV58-2Fj1ueDPDUoGfDotFhgpcpeLxwjq=
6grVY3RGw9rteYMh2wXT2Tk3Ymgoc6YmG28B3z37DlCS9zpvh47qRi-2B-2FpuEX5jAiDN3eMGc=
lxUN4EBhnG9MC05UYyyvO8RRjYcel0ppmOmc0qGa9ABEeGqXOn0mbKnxlYvex2HxK1-2FeSS72b=
DZWkDLx7cGfKg6RFN46V6VCT7A0s2SPOgTDU7-2F-2Bjqm2p2Kro4NE-3D" style=3D"color:=
#1D5080;" test=3D"" universal=3D"true">KKR</a>-backed clean energy company=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6WC5X9e0JJ-2=
BfGC024Tx3zYA-3D-3DrqXe_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse=
2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFn=
QigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQ=
V4Y11azZEyNwKQr82xjrwFfJCAH8S6rubIpTbMAdt0uAGCYwYAj56YH4jPWVx1hoQb2pyKmg-2F=
ZshoCWHqqq1zb68-2BpOOua-2BdOJ4omKN7rX4fN32A7O3j-2FSlSJhtJqBsMUpSXcXpMbBrYAW=
ExD3AqS0PITZxgjuWzdPEOfX7-2BmuW1lpgai5k3UbnPyqfv6TBTUkYWMZn6l8H6t8Y2sNFiOhQ=
WAL83cd54sN2DquqxyT8XOv4w1GiV3cS-2BN8LJjPcVzLzUyEB2M8hrYqpFaYwqK-2F1qfD35u7=
40P-2Fc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Zenobe E=
nergy</a> agreed to acquire <b><a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW-=
2Bpwdpw74FkJXhsAkG6-2FHGOq24ax7kxYTeMrJs7Tg-3D-3Do3Ai_Pr966knuaHmaw6c7pKvB-=
2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5=
K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv=
9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2=
BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKbb8l1Jh-2BAwfwAJK6z0U4l1Cz9oPnhJ=
Pq0KrPa8HhunnH2xC1iNCEF3C0-2BaQnjgaT3jWTpVyrY7onXJVJ0RPQxQF7ol07MNa8VseAg77=
zALu-2FQrHls86LZI6FURO3o77kaT6PTmqzYTDZmZe8RKZF9wdLBa7pyk20kXX7IP2EkyuvKUsN=
Lo9ky-2FW4IIJhBxCMMgsBZoP-2FbZP6jqYuEK-2BrR4dtaG9do7hEnce0z-2BrMOSfteXD5ZEf=
Btd8mukPkVJZovoJi1zxs4QKB2ESEsQrSEA-3D" style=3D"color: #1D5080;" test=3D""=
universal=3D"true">Revolv</a></b>, a San Francisco-based operator of EV ch=
arging facilities backed by <a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW-2Bp=
wdpw74FkJXhsAkG6kFuVLTztlJjIh7k2aic8Zg-3D-3DhF5u_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZU=
Ze3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7=
yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkF=
Z3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKXDExNfOxOIUtJJkneTV1YkplmVW7oR-2FHUcY=
Y4y4CghT3MpGkck8tev8YcYFuVUd5ilCZItB3X8n7p1CGh0cnnwtQish9LOYJDCodwsJKrGveHB=
3HjiTOJnc8w1vStjHn3Lv4H8oX5R16KL-2Bqnnw3K93qDV2GNbp-2BaJ2Mpt8AOurjSWDbgnJyB=
yFXPB2-2F3Sen1JqAr0R-2BQSyXM0Jm-2BPWsA1BLNHSNZpijvacTTCGPtDo4V7cOYq2xcIOnLB=
0gtNDZYrivP7UtiQPAawzkxt-2BssM-3D" style=3D"color: #1D5080;" test=3D"" univ=
ersal=3D"true">Greenbacker Capital Management</a>.<br><br><a href=3D"https:=
//url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG65XWebvyFHZmTsm5RqhdLQw-3D-3D5=
P3S_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf5=
4g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQY=
yy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3Ngp=
P-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKUcQNqIP=
laiarYXnBq7FMWJXLKG9-2B5wyFJ1CoqvbAgc6YmcNRGOcfLJb7VD-2BOtrQOSaueeKsTM7bOKi=
PHEwykhnjRwMKVOBlJZLXGzIjEWe0D90vCJgIRI-2BePbLVIolmpFOZA-2BnOQ9UZdCi55ObN1R=
UBFqgiuwHsDycQUsN7drmM8SH3HhtrssczONgTOUQB3UcyKJJqEhcp7ZWsMaM-2F-2Fz3P9MkC6=
RWn1VEi2UfRhUU-2B2-2FJLZS0tJ7qnlSUXblBOMqnsKlD6dQJrqs8IoyH93Zc-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">Verdane</a> and <a href=3D"h=
ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp=
SWIrf6GFa-2BaqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6-2FIeY78RG95WplwPN9GytUA=
-3D-3DldLh_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6=
8NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7F=
JVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw=
0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwK=
cKHv-2BYpOb5JlryB3XLDVZtHI7tLFsWfbkR4KRDNNN3q6qPb0qnC96cGvFEHZh0ni0Kk4uG6RB=
TYjfAQJM2mcMQ38NJMprQVYlXiF2K347qIfo7SWYXWKe6Vw6RPEvvx6WfSSKMPiHaCHuR8lJRl3=
eCRDDaSP82KoGLN9uchqXKP30hM148-2BPg6BGe8ZrOmdbgmNtN457gP1xRML94LMsZhspFlB3e=
zS5Awn379AgqMFMt1Ceq2oR2ahDG3G-2BRVLhZvII2yxEShGMZgYhXHOVFA-3D" style=3D"co=
lor: #1D5080;" test=3D"" universal=3D"true">Bpifrance</a> invested in <b><a=
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6hjZ0IP2ddtx4xt=
NmU-2F4VFw-3D-3Dfutq_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RP=
uxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQig=
elBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y=
11azZEyNwKcCcVMR-2By9RWTH1t7AkdVcxOqVk805Rn01IIUmIyUYvfYpXMVmWkucobQ4UDp1Lp=
UL88b74qIemt-2FpYyGYUzqgTebyZhVGeVcvnO8S6m0wgpWcIkLFtDTWgr3327PQW1RF-2BXe-2=
BAH0LWgeJsdUqd-2B5fdheQiTOUze83q9LlNhZ1VOy1hyMrRIDsolcN5ykwnuOvBzsqdXyaJptG=
U2qIgXNk9L-2FpXVe757ikl9-2FDcciR8lIsRL9JSW722GmFBRkQLMkLjJheRYvdjscFYY7nWAn=
QM-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Medadom</a></=
b>, a Paris-based operator of a telemedicine platform.<br><br>
Stockholm-based <a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzWfgW-2Bpwdpw74FkJXhsAkG6xwF3k9cfsdbQ7qORESaYqg-3D-3D3Uqg_Pr966kn=
uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVI=
tAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlec=
wcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXu=
QYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYGu3KhxPsvh84VKp-2=
Br1eGU-2B53EED-2FWAWm7nKpS5yxq6kXgsOST76mNSEDo1RkaLYe0Mki6XBp-2B1v-2Bas-2F5=
7mmJFXj78EOmMISNMazCA-2BCzHVmyXvjkaHdv1wkbxK8ZjkIoKbcg-2BlkVp-2B5GOeVESfblD=
CVYO-2FmNt-2BPwflHvl3RxNC1-2BL-2FUj-2FplaMUEPZ6d8c6Qh8pFXc7RwLmRQV1DQ-2B8NQ=
D8F8Sj23kNS6BOZxrjFicJYILK4oasuv-2B-2Fg-2F0PR1LpufrfIN5y7L8XzpVQA12DTak-3D"=
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Pophouse Entertainm=
ent</a> acquired a majority stake in <b><a href=3D"https://url6380.news.pit=
chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzXIRXKctKkB-2BCpH6C-2FopMl3GPWlMPaQ29DgrBBVhGb8rA-3D-3DExPR_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7=
TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgl=
oImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpk=
RC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKZFCdE9CxszjxvcFAl5hRTgt=
Z34UzTrjSxe0to0wEYnhmhES7K35fm9Dqv2bWxCMgtvUzNh41U1vGK6RN0zJo86c-2FbFW-2FI1=
NvCKGme9eHxHv1cMwadQQXXSH8JDMeh2g30uU-2FUwpF-2Bhu6Z82114C79TTAeqZnu1SdRtay5=
WInVmUda-2BQ865bNF3m7w7khuT5wSdUtMxHPqa-2Bq4AZqPvzuaGp9unjwZMepX5eGHmHIe26u=
Pa8wvVWjveq5-2B5EF4cQfiw7B4BnJh77-2BP55NCVsu0c-3D" style=3D"color: #1D5080;=
" test=3D"" universal=3D"true">Tina Turner's music catalog</a></b>.<br><br>=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3kJcFu1-2Fe=
0uVL0uQ3Fc4HJQ-3D-3Dq1xd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV=
I43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxms=
e2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvF=
nQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxw=
QV4Y11azZEyNwKS6DbrZcFSM6Ky0sahLSJa5-2BuyncTjqhGjHERXKvXJW3t-2F8UgUatmJuDPM=
eXyBuznrJerk-2BoigxkfvUgBV48E34jfNr7SHtsx0q54TW4fajzHi1HSy3jzXLeZOFkp8yFwA9=
ljgYMcBvH-2F8tN-2FhsKpNB8Phs0xNRtkRSQaU9l5XPJz0U3sdVs6ALszuDdnnqiZgTc1cKcS-=
2FJziWg8kTCkGq9RnLzDwaPxDzzH508V0hCS2TpBquWOTgCVqz4ZMnDGuCrCiOvDdJG6Y-2BObN=
J71CiU-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">3M</a> an=
d <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3RP5mLJkQ=
aXT-2F4Xk2sjXvmQ-3D-3Da3rN_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi=
QVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHx=
mse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQM=
vFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgB=
xwQV4Y11azZEyNwKQ2yAh1r45Ya7YZTvnlgwMiJ7u9jop9YAc6YGvUyZ-2FqCBp4oI-2Bc54n8j=
rdzyPsqKUY0b-2B1HjwLkMJgNhVTY7xJd81K-2B-2FETqW7-2FElzD0M8H72-2By3YBnUeYEyJj=
Ol0f0hJ8zB5d3SRP-2B2E1v0gORvLNFI-2BIcOMRFjCMD56Gka9r-2FfbbgbV15YHvNe2OR11IT=
-2FlSBNdl-2FFzn3OPPzL4NFHNT9dyskHrq7Rjo5AYQj6nFTfKbXi92WiFsrychvnCdxLAw-2Fj=
7Fyl5DgbuUtgKn9FshE8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"t=
rue">Bain Capital</a> acquired <b><a href=3D"https://url6380.news.pitchbook=
.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXI=
RXKctKkB-2BCpH6C-2FopMl3OZh1vh5rKDWdScp4Ql8Edw-3D-3DNmY6_Pr966knuaHmaw6c7pK=
vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5=
he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2g=
qHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICM=
N-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKV91XIhxz3NrzDI0JB8gHSyO7km8Xl=
KRgUUtQTDZ36jCeENkgWcCQZNqX2HrlqAJDbeltkHI7t80WrePgB7yPVtCg6TaRue1nJvX2tI5O=
GIxd2vwxsEo3pCer5-2F7yK8v9s-2FQZuimem-2F5974p4lY-2BC2MECj4f2XooGeXcyrkDGI8D=
t-2B8OXHspxAcJ4HFZMFGzfv-2FlIFoGK6seOHCqpcj2ecOZHPaxNxukP-2FmAmat7ee1NXKgCd=
f-2BBiMiAy4oGQAkRJTOxB3F2kdB9ECpvjOlNA8A-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Madison Fire & Rescue</a></b> to form a fire s=
afety joint venture.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Exits</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3J5tO5xuAhlm2MjSx=
-2Bp2-2Biw-3D-3DGC3b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RP=
uxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQig=
elBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y=
11azZEyNwKTRpf54mTvAT08EG8TYddw3LctB6Yuck5RWvbiuLzQjzI9h5qtuMo-2Fz33dXnaK9g=
eVBYLZTa9i64OGcYOBe-2FNbuDS1SZx7WqXPYmNii3bd4jIJ96yL2hVdQ5IHdybN-2BqXXoYe-2=
BLRFKyK0Rf7XxMtBLqXZLZ0JsXYqiJR3A2rRmrw9snjYrHrjMQGAbFZaEYnuyGuaR4Li5uIPVD6=
8nnMGout60um7eDEsYBl9wllHBQlpLC2X7PThQuxolzjwGfJOqPMntrftZRVUtqQ5hVN64s-3D"=
style=3D"color: #1D5080;" test=3D"" universal=3D"true">CVC Capital Partner=
s</a> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D=
u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3=
aNXwKox8DXr5NT-2BUu0-2FBbA-3D-3DDKD2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y=
QP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC=
0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeY=
o2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwV=
jPp-2FIEgBxwQV4Y11azZEyNwKXuy53E61WNtRibzzISglyURFGlfQJAmtPqRtdJFi3AKL-2BW3=
giCt-2BAP9lA47i1wgx89NDYtOTyoa4CFORncuKTEtyyNjifeJpiXssuNN4tOiaWGCpYsqcohcl=
cWJtWVtBHMD-2B7AoueZu2SVpg1VbcW9x7JGAmxnc-2BNytAAuj3SCUHj8936e-2FhbLwtXX-2F=
IQ3RoIoq6kkaMNpxl4Zw84j8hqch8ookY4Vyf7X9ZeQcRqv31prM2LzHuaiyaHApXFEyiR5jtD3=
cbTBmd63heNTlcDU-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>Nordic Capital</a> are considering a sale or IPO of <b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3hRjaeAE52Bxp72-2FLm6rKjg-3D-3=
D9oml_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRq=
f54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMc=
QYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3N=
gpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKQjGl9=
U2AFLxwJcS8nOiUQQpkd0ck0kQsDZr7hsD3p4VwEmooTjr1dG5bAG9HZNSrhyS-2B7dK-2BVmC7=
B7ATQxed-2FTF7g8cbUvJ3fkOcGRJmbyDwE2-2FimT5wadrZiiWlZON2R6izbsbCWIU1nc65Qxi=
um-2FIijDdX-2B9YpFGURblUxJcH1YoAqc0-2FFYHg3uAvzqapz70kJxtKbi1Rozy4E3aFhqXXK=
Iew6qe6ELn6Bb4fKjqa-2Fc3wNvHZ0OK8jIEA1y-2BcXyqcD4VO-2FpZlFQXYVRvGoiE-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Cary Group</a></b>, a =
European car repair company that could be valued at around =E2=82=AC3 billi=
on or more in a deal, Bloomberg reported.<br><br><a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3uDcT1rPnYLMRQzliYhMSUQ-3D-3D3Ewp_Pr9=
66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZ=
NHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENu=
rlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs=
3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKV5NCiA3AaDsvxN=
m6fY-2Bi53THjbb8o3q-2BmDFeYfTb48Np0eQcGEenRDYVIXwJBcdeIGbWFxjqeldxyxMrztoqq=
xR9fDOffg7WCWygTbXfszyuH4QlBt-2BTKElWxgy-2FoyTKhabYuVEWHzrtIwSGAoj94xwDrO69=
Gx8QIPCpGTf5HcNLnjEicprcNDSk4oYEg9oauOZqL-2FLCo5vUcGYMd3Yca-2F2va3IJ-2FcdEP=
4OEqxDpQzLCenLkiLB5Om08zkjtYx2g5IFMF7sDSnz-2BBr44WHyN6o-3D" style=3D"color:=
#1D5080;" test=3D"" universal=3D"true">Silver Lake</a>-backed <b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3OZyIP6rSurqohguDL=
1m06A-3D-3DLRc-_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2=
BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtS=
tJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZ=
EyNwKedV9zUyL6O1G-2FrqXnNJIw3vOgwNjTZcW2-2Fu3h7ninZg7DZ9pgDhenR8oUjclduNqXQ=
TWc1cDDM46V4fjFAjp6cMHnW8JvOL4Y72COxtDavxf1BI-2Fy3oPkhtb3JGGwlEGHitO8mENc6i=
8GIPUI8S28ztdj74gmwUhnE6Fz53ZEyRoF8KSAc8tDmzndainbX948sALPoUzdX2yzXNXMYxraR=
WgcmbNN7jacIDlSyNHjYA2DsmEQpxQJUx9BHsF38-2B7Xd9SJ5pdvQURjabAbbCyAU-3D" styl=
e=3D"color: #1D5080;" test=3D"" universal=3D"true">Relativity</a></b>, a Ch=
icago-based legal data company, confidentially filed for an IPO.<br><br>
Python tool developer <b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXIRXKctKkB-2BCpH6C-2FopMl3PaRq9ioZuTjpGQyiHQ4MeA-3D-3Dx=
tGI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf5=
4g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQY=
yy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3Ngp=
P-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKRQ2VD5L=
jsfd46uCyAUqaOTcx4M5b9iqeQmxwXU9i4DzjAvZs3PmErZu6jDPFl-2FtfFSgUIjWFza-2BvjV=
pv2oOE9jtdXjusmkmMRckbYszroVYfBFponU3F30jX1XFryzPpN9f77dsBkxaWfbrJYwD0eMtkm=
6gOFfTQ144Yor4KjmmhkshXarOx4S9kE9Im8Q6gqN0dpCmsRRBunDpAdLbx4GdWlqsFD481cBDb=
a2lb5kybeKCKn4jp6ToIFKMMEDEIbwIi99IibRrx7FOXzWACF0-3D" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">Astral</a></b>, which is backed by <a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJ1WB4cgrlOhffTmvR8=
9D0Dw-3D-3DskTf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2=
BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtS=
tJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZ=
EyNwKS5fe5vk8n2l1VQ-2Fipri2-2F-2Fi6XTWsEqcUt8M5PfCXkwFqPAqgXuPL4lJ-2BuWevw3=
T8Z78dKj6SCU3vnZpQ7XGdKcSVoOK4iL6Cjbs-2FCOpUq1KHQ6j41xLIBO87bJ7vaQ1bF4fxt5R=
XJG6QsHkSDj-2FJdc-2BBRCg1iMlqdhk6nf-2BtptNtEZ7tb9jge-2FWkBqcciT33Yls7O6Fryu=
JsltEF61CB5wYZllH4hBbuJ4KR2ZC65ZsrXV4cazxUMvAEAhjWaiuX0KgyzPRCJ8x82qReurCM-=
2BM-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Accel</a>, a=
greed to be acquired by <a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaT=
I-2F2X8YwRBJKiy7axEUqf6v1n2ZfVfXRg-3D-3DWJni_Pr966knuaHmaw6c7pKvB-2BCEiDnj5=
UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3S=
gNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0f=
dtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gS=
nDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKTMp858-2BwH-2BLYP8C8VjrPo-2Bh-2FUGODqaPVF=
SDJe3bLjSe42L-2F7Nyzrpo-2FJget6J29OHLX5aG002jUJ81a-2F0ppnYScgafWSorfNFU6tYa=
JkuKOdinqFcv9d89Y5bDRnlkUZU-2BuLU6Joi63zGrCNT-2Fkr8aRmZ7vG-2F-2F5idvPq-2FKL=
OzzM4Zmj-2Fl15Y01s1GzhMgJMyedy5G7eFgxL4x7ivp0s0LKN3tusS0hTtAllS-2Bm50o7kXAI=
PDhNrN0PT9hTWv6X7hUfuCFkDZhU62SlSLEDmGbU-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">OpenAI</a>.<br><br><a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzW72A9sQQfFaTI-2F2X8YwRBJOzDljS7ojqro3h4Lufcelw-3D-3DWWc0_Pr966knuaH=
maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAM=
U7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcX=
gloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYn=
pkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKRpYmo1Jqputm3UK6BHsCT=
PBpvBKOSEQz8wHJgSFMk-2Bf5W-2FD6K-2BMwgLmphTJzPzyJV1dhIVDPASDyuStx9kBoq7NGEx=
MbKAjHFml-2F3CQdsNY-2ByH3Vm3uE32rPEtOuiiHZJvDucML0h6PLtQejGUPJo4ETw4HHv-2B-=
2ByZuICNOtmPFbtgK0Rene-2FRnPREkRzZk4HjSrtt22WsfYeoM1zY4mKxq6oWugPsB5Ct5gtIh=
NsTf7FIA0urIkCC8OUR2QNDvsCESj1j89m5BTk9es7hJfQAE-3D" style=3D"color: #1D508=
0;" test=3D"" universal=3D"true">Creador</a>-backed <b><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJVl9FkVT4Sj7ktc7qrHJ2Jg-3D-3DpYEa=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4=
CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6=
uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2=
FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKcLQVh2FpXI=
rz5BeVTxGcz6Wdra0IKNYplfFEUAKJ8DKelDaP6LnDTfE8ArXafKc5YkM-2BpyKfeuD6TgonWPe=
FVGC-2F-2BrQa9Vqw2YL-2Bji97H-2BTubJfy34QVIOGykCbf-2Bl55J8bjjGRXeP1Lu0VuavEh=
oA-2FjvpLG5mNSEA8q5zqNqKvEfOgt4JGgRgQ6yA3boRXEtL83vV0kQ450-2FlD2Xh3-2F2hWEt=
AV1q0j2Xhx1n476iGjd-2FOOXK1wmwDtX2Z4suh-2B58ws31lSQcxZ2H9zZBefQBk-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Paras Healthcare</a></b>,=
the operator of a hospital chain in India, has revived its IPO plans and c=
ould raise $200 million in a share sale, Bloomberg reported.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Fundraising</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJ5-2BLVFiiWuGyPg=
fEqTEkTUw-3D-3DPxnK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPu=
xm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQige=
lBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y1=
1azZEyNwKd-2BCVI1QRZeKOWvop8gMGB1ge3CcZTDu9-2B2di497zLF89EpJnHgl0-2Bv25cLIe=
zOIg1nmjlVhIyMsGBkoRXFQob28XVaCZFE0fn-2FGEP7Rc162GdO-2B-2B-2FwG4UgllVyeHxNk=
FbDX73ufpSVIJ6nON-2BP9uRtjTchsVVL7hLtMW-2BwE75BdP37JlWz1tILec6HKBUcDsm7Kcl8=
wu233CymxtCW-2BgDjHn2nqHH4p3ltkF7Nvu-2FFq5ITHrawJY6vU-2FyY1GCnfbf2FXSEDMvRQ=
T9rgzpIpp5o-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Blac=
kstone</a></b> raised over $12 billion for its latest buyout fund focused o=
n the Asia-Pacific region. The vehicle is expected to close in the coming w=
eeks, Bloomberg reported.<br><br><b><a href=3D"https://url6380.news.pitchbo=
ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz=
W72A9sQQfFaTI-2F2X8YwRBJkuAe0cry6CtzKY1XTPfvLg-3D-3DUYVs_Pr966knuaHmaw6c7pK=
vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5=
he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2g=
qHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICM=
N-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKbkYRS-2F-2BvbDG5gVNnTvBiMEXT7=
tu9D4WpsK0fP9hng2aTLn9sRcPZalLwtLdWb9LsdY2PosgLBhuVQxmTIZcN5r0-2BzGyOdO1Xd6=
Vzw4yFoZS4jlbEN4JTC1-2FZUb9qwt5UgKIM-2B-2FVR96iNtJOHEDMqV80YSlC5F0bW5ENje-2=
BAwINwIAkaLLh0KAkcoe-2BqrxgdM6s9ERucGjfzF-2BgRNpTK8C-2FcnZKHIxUqquK04EaWnxN=
LfjJx8t2kwosvHbQsfHWwFaTZdPljuN2TKCvRDaJtF70-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">BNP Paribas Asset Management Alts</a></b> clos=
ed its first infrastructure secondaries fund on $722 million.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Chart of the Day</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100=
%;">
<tbody>
<tr>
<td valign=3D"top">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"center">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
">
<tbody>
<tr>
<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJV4ji5lO=
n3DrAktD0H78WNw-3D-3D5oDH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxm=
se2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMv=
FnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBx=
wQV4Y11azZEyNwKZ4F4ayBCvxmkitBJIVv0O20DuoRXORmUq6kifWyoc6-2FVcXmj-2FbnErY-2=
Fkn3pK2oONTnSwUqwiky6aJ3NAxKERwycDRlYUKo6-2FVs2JUApMJzdxIR6Apiy0IJpHpU1BUY-=
2BSYANLujHuvzhG-2BFO8G1Ao7q-2BA-2Bc5jR1ULg9wLfuxYMdIBkd8zkXwKNxr6uZQ8pUHUIl=
ihBkkpCAN9-2FRvzAu-2FlAUJEKxE6PgdFo6-2FrM5KBh5dxSUXCuTwa1oKl-2BbsO35QZQ1ZV3=
mcD-2BGPn42j42Z9elE-3D" universal=3D"true"> <img align=3D"center" alt=3D"" =
src=3D"https://img.pitchbook.com/news/73360.png" style=3D"border: none; wid=
th: 100%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">The mi=
ddle market delivered solid growth in 2025. Deal value rose 8.5% YoY and de=
al count increased 16%. Dealmakers found both opportunity and liquidity, su=
pported by improving sentiment around US business conditions.<br><br>
Source: <b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzW72A9sQQfFaTI-2F2X8YwRBJV4ji5lOn3DrAktD0H78WNw-3D-3DHHGa_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7=
TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgl=
oImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpk=
RC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKSRrngvdWkpm6owhOduW1aP7=
9hL6mbTzw-2F3JikXAUAvJrJ9cI9o8DZvuCu2AzvaF-2FAovWh7IIdFON60EFemq-2FbOLHqSBy=
XOQXZvP-2FfVW6-2Bi1GB2IiICn9Fg6CRUfxcX51BG2d0FEUgSoLAcz16mRRrRlgkUntHp-2Bft=
8BVx2kU-2B8SwjaWouf6304BkoftG3V7pAXWNigzdIUPOL53tE-2BCCWq4tONqRnOTG5mfaa1Vu=
8fx4FUauoKn48taROg52nJdWaXdKRe4ZTmeiOa2kx8rJpo-3D" style=3D"color: #1D5080;=
" test=3D"" universal=3D"true">2025 Annual US PE Middle Market Report</a></=
b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
</tbody>
</table></td>=20
<td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r=
ight" style=3D"padding-left: 20px;">
<table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td>
<table lang=3D"x-sidebar-block" width=3D"140" cellpadding=
=3D"0" cellspacing=3D"0" border=3D"0">
<tbody>
<tr>
<td align=3D"right">
<table class=3D"desktop-only" cellspacing=3D"0" cellp=
adding=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td style=3D"padding: 0;"></td>
</tr>
<tr>
<td style=3D"padding: 0; height: 20px; line-height=
: 20px;"> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr> =20
<tr>
<td>
<table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad=
ding=3D"0" border=3D"0" style=3D"min-width: 100%;">
<tbody>
<tr>
<td width=3D"460" class=3D"container">
<table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" bor=
der=3D"0" style=3D"min-width: 100%; padding: 0px 10px 20px 10px;">
<tbody>
<tr>
<td style=3D"font-family: Roboto, Arial, sans-serif; font-=
size: 10px; -webkit-text-size-adjust: none; text-align: center;" align=3D"c=
enter"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJ15Lq15UkJ=
4Cm6YHLWUP6LA-3D-3Dv93Q_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse=
2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFn=
QigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQ=
V4Y11azZEyNwKSF6EJw8PeuaQBtKqrZ9kzEzZPnY7ablh-2BFE49Gyxb5CnHRy2R8NUv72sm0Zm=
Difu-2FvH9DHVdXs3wkF9NwiP4ds1THAKaY5hisY2KN8wUHet0HsqKIWg8Bo7r5TDqXzpqzbPHV=
BUllpo5bPFgzngrXIlX4YmfqJzh32FJFfuiGqXKKhi83oeCaJfxYwSImoGFk-2BPsYVfosV8rXU=
4cQbPNC8kvDTNNod9GD1hjmZGUxPLvDyAWSKhhAAdcspL8SpMhLCLaZD3w3kqfa-2B-2BFXsD3t=
4-3D" target=3D"_blank" style=3D"text-decoration: underline; color: #1D5080=
">About PitchBook</a> | <a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaT=
I-2F2X8YwRBJpjwwSPrYswQpi9-2BMLw0-2BEQ-3D-3DHUxb_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZU=
Ze3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7=
yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkF=
Z3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKaJrKvhCoQAoPrtRyb4yIiE-2BSShOMSgADBTu=
tnGv1R780dt2tA69jrVNEFLMzxa0ja2XsCibECZ83Kdab1QvFgRw7WGwfgkb-2FVL7dW4EkLXEj=
SRup4kzsY9g5OrNLrHP4VRyZQyZ89yZXx5B1ktRjaFrMPIw0OupEmLo7-2BY8VDOMC8L-2BFafi=
a7t1eZPZDT3IH7EMrH1bUVQPcxJoLOvZiDhQ-2FIEx07pO-2FdUViZvgZMpuKahswfJWX6jegUB=
zGG6bhoC1QAVeGbZEwj3Eink-2FOKo-3D" target=3D"_blank" style=3D"text-decorati=
on: underline; color: #1D5080" universal=3D"true">Terms of use</a> | <a hre=
f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzW72A9sQQfFaTI-2F2X8YwRBJaLKayVPaL7VR-2BbVjXYbn=
ig-3D-3DXJMr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY=
A68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq=
7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJz=
Nw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyN=
wKdxyDfT-2F4aHiTBDQW2QkrW0-2B-2Bn87I6vmpixvwrQLVsVHe8QreX3MdSYDSYT2zodotdgf=
43j6J-2B63Pyy2LtwvtTElTX5UxE-2FPidZw-2F5WdN8Wk7Z7Wu47goHqHGa-2FonKw4a6pnt6N=
cnneE7-2F57AZI-2FuAVOF7DJJyF1WomJqW73b-2BMeGRkThK5Ab7brHyD1RYYrukp2IimhgG0m=
vg5AlFdFbkGvXi35TrIm2UYwOOkTWDTcrmjpCo6YpTKVywpOCvtlTtAjwOkmpOnzQR8nUrtOWhA=
-3D" target=3D"_blank" style=3D"text-decoration: underline; color: #1D5080"=
>Advertise with us</a> | <a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUXIQF-2FmHX=
4rEa5rQ8vKtjC3mZqbiGi6rLiEBCcQftfhA-3D-3DdSj2_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3=
SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0=
fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3g=
SnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKcROk7jvd9JM00STgBo4OcbPjNMSREq88L0qOY0Ao=
k3on5NwrEYRvPfirnfOYE2qgJoZMb7w8am6RFtzRSRbDjqqTGJWcBy8ddW7iSRwn3c3aF3XDfey=
fwvcubOUaJxtcf7qBnPR2S9FbaJIEslOAo3MRVcuUAJIK4uAtVcRZmZwiGvejqHcjb-2F-2BxTO=
h9p5fqVgNlJmQMQSKKWwGJwXT3LM4KRgaHICnFYxk7FIFfzt2w68GooEh5DwJ2Y15c-2FFYu4xI=
vhuqxNQxciaIUs4Rc0o-3D" target=3D"_blank" style=3D"text-decoration: underli=
ne; color: #1D5080" universal=3D"true">Contact</a>
<table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0"=
border=3D"0" align=3D"center">
<tbody>
<tr>
<td style=3D"padding: 15px 0 0;" align=3D"center">
<table cellspacing=3D"0" cellpadding=3D"0" border=3D"=
0">
<tbody>
<tr>
<td style=3D"padding-right: 10px; font-size: 10px;=
">Follow us:</td>
<td style=3D"padding-right: 10px"><a href=3D"https=
://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzUXIQF-2FmHX4rEa5rQ8vKtjC21U7TkdxWbeEU4Wk8LG7ww-3D-3D87a8=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4=
CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6=
uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2=
FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKbvrwFWr3VL=
F8b77JmsRjK6JAkyudwjPAQjOPKYCiy9qmt84zdGVAotgRvmJnBmVgjSgCxwFqSK-2BR0hLbfKZ=
lLHhiPRoulJBLYgqoR55cROLTrsJvCAH7XO2TGHRKhAdWQbIErM0xo-2F0RBwuiLcHniYi5AY-2=
FcOZX7Ai9iiVlCePnsJ9GiG9t8fLDGU6On5mi3Lv27zLAGE8DYRwd7tdknTVnueATbpXbmWH2X7=
Bg88NKeon1unu8iikRnYuKFB-2BAHP2Xfg-2FDVAjO6JOxXC38hmM-3D" target=3D"_blank"=
style=3D"text-decoration: none"> <img src=3D"https://fonts.pitchbook.com/n=
ewsletter/linkedin.png" width=3D"25" height=3D"25" alt=3D"in" style=3D"bord=
er: none; padding: 0 0 1px; vertical-align: middle;"> </a></td>
<td style=3D"padding-right: 10px"><a href=3D"https=
://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzUXIQF-2FmHX4rEa5rQ8vKtjCtMy9GQ2DdvYaVkFSAC-2BlAQ-3D-3DSK=
6z_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54=
g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYy=
y6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP=
-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKYKJmfoYT=
6LJNzaO8IkbUJVKk5EbFFffGQC20MTJbCulq3RKP4vYXST7v3sN16NbLQBJYb9qcWANgZeZ-2FN=
yMUUZ5gHojrBHHGBz6u5LfwWwXzECuC1iVBqZoG4xJAkCQ-2FJGiK9sNut-2BQptGF-2FARDYvj=
5bSlMw6MVwYDV9QSNPX-2BmHnA4zqOkQ1AISjHglW8KtDcA0gjAzwOpoTHczE90MfPnnf-2FBib=
d97603pEI1F-2BzeBkjMBjZl7p9EJwxNPR8VpyP7J8EMvgOX5kcFOToT2pk-3D" target=3D"_=
blank" style=3D"text-decoration: none"> <img src=3D"https://fonts.pitchbook=
.com/newsletter/twitter.png" width=3D"25" height=3D"25" alt=3D"twtr" style=
=3D"border: none; padding: 0 0 1px; vertical-align: middle;"> </a></td>
<td><a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUXIQF-2FmHX=
4rEa5rQ8vKtjCkBXciCDz0C2AhMTh9RhLCw-3D-3Do6Su_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3=
SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0=
fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3g=
SnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKaYQmAU0CkLsjmv8MO6mtHuuj6ejBoxsaibVnhF1a=
qRMwyjTaLMQslnm5nwR-2F-2FcKeg1DMN4DUuECu4C7JaC2LAOICm-2Bitmgf-2Fd-2Bm9SjhnT=
DV-2F3WyJKHHTQWrDl1biE-2BcnnD35TmgGh7W6mBXJpY5D4ojeDSuAz8Pk-2FGX7qgKY-2Bvss=
66SyuatSgZiFa7k-2FHIjLIL-2BkJdZHEMK1LgugzzlQhbHgQQuLrCtvhGGrIAdVAsaVwTZnBXr=
k1vK31HGvr5Gnub6rtlweX2NG4KLzW76UbI-3D" target=3D"_blank" style=3D"text-dec=
oration: none"> <img src=3D"https://fonts.pitchbook.com/newsletter/facebook=
.png" width=3D"25" height=3D"25" alt=3D"fb" style=3D"border: none; padding:=
0 0 1px; vertical-align: middle;"> </a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<p>This email was sent to <a rel=3D"nofollow" style=3D"te=
xt-decoration: underline; color: #1D5080">vetyl@ponjosonek.com</a> via the =
PitchBook Platform.</p>
<p style=3D"margin-top: 14px">Click <a href=3D"https://ur=
l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx=
1VdE7sYl12opJBSgX8wjgWQkjpY2yE70mtuFtQh5JMynEp-2F-2B0ZsygXiW0c8xb0JNNkFtjTf=
dSBLrG5odLYHQXzZYap3xyjo613CQL5EKIRNY6DZpApxW-2FtnBQ7rUuqNohbArjpNQasEdfyU-=
3DniMU_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR=
qf54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMM=
cQYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3=
NgpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKRyEg=
e99bDinzaYekIJgh-2FuhaFdQvcgsaDcqeYywfeS4-2Fi05wOe-2BvHDVMpg8cJvpxGB6Xt1yUn=
-2BLHuqVmlYRZja7X0ndK8l2rKkdPaTiiMCf-2Bj9psInvy5Rfbr9b-2F327Wt7XBOr2exC99RB=
LN4SOIdkt2knOC35HrFmplRuUxVAGBOvNShIRpO3iZR9qGumb0TC80RVliQGdgECVPTe6rH56YL=
NvsgOuwgGDSjjzC5MsIuGnebgmXf0B34YEs97oHCwfU14-2Fo8fu1ws80oCGzvs-3D" target=
=3D"_blank" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 10p=
x; text-decoration: underline; color: #1D5080; -webkit-text-size-adjust: no=
ne;">here</a> to manage your subscriptions, or if you no longer wish to rec=
eive these emails, you can <a href=3D"https://url6380.news.pitchbook.com/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrVRvnzbxJbWwDftsHe-2FnJ3PNCbp5fVdgUVv=
M0uKhBfShb0-2FXm4f84Oam-2FsIf-2BQHY-2F6l9Vc44O6YYP5nyZstiuA0hPHiOTJvTphTwYV=
VcDj-2FgzVFL55dZKzjozFN3yY7gCEJIYIrzSMor6WWroWX0bXV0YUZSSv0rx-2BGIUB1ul-2F6=
MDNsO_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRq=
f54g4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMc=
QYyy6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3N=
gpP-2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKTwkp7=
C8paQwOaWqMWtrqoKrWvmraOw9jRmh9wIx2Ic6CIrZs6yGiHDhw2HClp0M-2FPVaEFKvj0-2FOw=
b-2BlPjR7Mb-2F2uEutCQL9pB-2FL6wd9PxGoZ1GZuMzYVpQUs1IfjRYtI-2FD-2FOjxl66NYPC=
JmjLpeGzl0LBsXBq06G-2FJg9D8BchoyX8vR-2FqsEz5ooTAatCEYWOWWyMQd8FBDfDtvF1hzLN=
68s7tuAU0PX7XdEE6XP6J986fgn3tl0isLQDxseuXAzozfS-2F1rto6h0-2BLsSrDDbz8DOcr0a=
173i9oQCV2PV6PZb" target=3D"_blank" style=3D"font-family: Roboto, Arial, sa=
ns-serif; font-size: 10px; text-decoration: underline; color: #1D5080; -web=
kit-text-size-adjust: none;">unsubscribe.</a></p>
<p style=3D"margin-top: 14px">PitchBook Data Inc., 901 Fi=
fth Avenue, Suite 1200, Seattle WA 98164, United States</p>
<p style=3D"margin-top: 14px">=C2=A9 2026 PitchBook. Win =
what's next. All rights reserved.<img width=3D'1' height=3D'1' opacity: 0; =
style=3D'display:none !important; mso-hide: all;' src=3D'https://my.pitchbo=
ok.com/ms/pixel?userId=3D3DUK23EBU6P5WAW&eventSource=3D3DZQDXJQ6VUBAECQE7XY=
5D5PSLQI&emailId=3D3DVI2K7BQEAVBVG&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL245ZG=
625LDUYNYOD6M6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DPED7RLFD4GN3BVMRTF=
QEHYZOOJCKA34MS5JA35Y.gif'/><br></p></td>
</tr>
</tbody>
</table></td>
<td lang=3D"x-sidebar-place" class=3D"side-bar" width=3D"160">=
</td>
</tr>
</tbody>
</table></td>
</tr>=20
</tbody>
</table><!--[if (gte mso 9)|(IE)]>
</td>
</tr>
</table>
<![endif]--></td>
</tr>
</tbody>
</table> <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSrnS8sfA-2FdXQL6-2Bsw8UD0p5RH=
7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqf54g=
4CqzZNHVItAMU7TV7uc5he5K5KZUZe3SgNz4bOJC0YqMDaCUHxmse2RPuxm-2BAq7FJVMMcQYyy=
6uENurlecwcXgloImV2gqHv9Ysz7yL0fdtQbgZeYo2a7w9cuQMvFnQigelBtStJzNw0cN3NgpP-=
2FjJs3XXuQYnpkRC3ICMN-2BJmkFZ3gSnDoZmnwVjPp-2FIEgBxwQV4Y11azZEyNwKcHnjC9Vy7=
uxSJ1gXj-2BAAvqiuH5SOLOyqDq3trH-2FcamxcSkE6jwTnFLpTSlUeYOk5CY6bPcHbsjh4-2Ff=
KZPj-2F33PX4pRtid867HgYNVO-2BkELjh8om8tT739N5I7AtplJdaAvjrsOeBcLFleCC3Hx5uU=
6NeVzW9s5B7GOFIqcgqryZVyqZoW9OX3RC5DHap2iG7kfKlU7vUyZHgpwavcHk3DohwRJxk1kwO=
XtEwnnOuO96IpeKjakXViXISnhdSyZW-2FNAbUh5j6yobS-2BLvsc1Lnbx-2BrcVSZlWp5-2F6B=
VCMg-2FMir" style=3D"display: none"></a>=20
</body>
</html>