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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;"> The do= uble squeeze on seed; Q3 valuations data for public AI companies; European = VCs' record low </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; 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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>VC, = PE 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; padding-bottom: 38px"><span>= Your edge on global private capital markets</span></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= 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2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Goo= d morning.</b> In today's Daily Pitch, we break down OpenAI's big restructu= ring, European VC's current struggles and <a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzWm2Q3V9Qq3P5WmYl6trmQYmUR2zsKI65goKHVhgKve7Q-3D-3DPN-g_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQT= GY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk7= 9EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2= l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81IXlT5e8x-2F8pdi32= OItLEIMwJqjS5TS9dO-2B13Tg3-2Bm-2BmbSkSkFH-2BaYSYdDEsXEWFXvR5QD97jUThFdL8jai= AShcNFd-2BLd7yhfKqhYX6H-2Fxb3qBpD3PNq8sDtKjz1wJ1n4Oz0STIAvFHC8zJgDoAHBlzvPq= kTdhrvfE3Zje1jxpoBpRvyETlNpjgXASB16GcEM-2BDJqHhMqAH9Zdvu2ca36AgkNuCidvx71eD= 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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>Was= this newsletter forwarded to you? <b><a href=3D"https://url6380.news.pitch= book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWm= 2Q3V9Qq3P5WmYl6trmQYQjHqQaeldyT-2F6YrXaLhhVA-3D-3DiTWL_Pr966knuaHmaw6c7pKvB= -2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX= 2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcv= D3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39Ecq= ZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81JGdsNeSwftasnX0LZwkPtz-= 2B3eZjEC-2BaNs1nDY1TJAe-2FZtZlBJU5PYbluIx-2BKBz-2BDvFXga5Lisz6kMLaF4rXhjKj2= AcxJNxjSbxrMvbesqm-2FKd3vJfDoUNb3zyb8zjWn810LeLob5u3MB8TKZ0-2FPMMu-2FMm6NlG= Pf75XmGS1JYUTpa3UL3VouWGUL1heX-2Fd1OILiuVOLUvtMlOJKIGNtz7VQhKwkd2M8Jpy6VITQ= GmuQWl-2B2CzmXn-2FffgfdOE7xB8xFxxQ5j-2FQyUg2tNKtDI9sXI-3D" style=3D"color: = #1D5080;" test=3D"">Sign up here.</a></b></i></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_574111" id=3D"n_574111" 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 double squeeze on venture = seed investors </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 = Kyle Stanford, Director of US Venture Research</i><br><br> Ballooning seed rounds and companies staying= private longer are squeezing seed venture investors' returns, according to= our <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6trmQYmUR2zsKI6= 5goKHVhgKve7Q-3D-3DhD0u_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxE= zxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2= BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjh= OJuwIW8wVmbSC3WVI9d81LjmZlbiV-2BqU4evRKez56RKYqNpKifiaFt8b-2FxqNX4jBB0LB9Lk= -2FrlVEvElPE0CuRE3gAOayreyd4H-2FHmj6kER7HeoDtus8UoPdO6c9YVRjEi14VJOARf6vKmO= hv8pQP65bOdGPcxqoP-2BliPfu28OxVmkb-2ByBg19v3ytmrH6-2BJlBN1GqlAzYQWPsxe1h-2B= Jh7jvX9mksHipNHNqtypYBj1UGCdC5oBSRg35pBcT2igyigS3UV5sDk3ZDhQ-2BzRX1BukhTTPo= yY02rZKGXgcqe8nfY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true= "><b>latest analyst note</b></a>.<br><br> While secondaries have served as a pressure = release valve in the last couple of years, they come with an economic trade= off: Taking money off the table earlier limits the potential returns that L= Ps expect from VC.<br><br> On one end, bigger deals at this stage have = reduced the size of seed investors' stakes. This is making it harder to bot= h invest across a diversified portfolio and maintain significant ownership = in top companies. To be sure, it's not for lack of investment opportunities= : 2025 first-time financings are pacing ahead of 2023 and 2024 by 16% and 1= 0%, respectively.<br><br> Meanwhile, venture-backed companies continue= to remain private even longer. The median time between a startup's first V= C financing to its eventual IPO has grown to 11.5 years in 2025, up from 7.= 4 years a decade ago. While the dearth of public listings during the recent= market downturn is partly to blame, there's also a growing backlog of comp= anies worth more than $1 billion=E2=80=94more than 800 of them in the US.</= 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-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6trmQYPW4SIUvPu= mIWjaZzN9hWkA-3D-3DD11z_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxE= zxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2= BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjh= OJuwIW8wVmbSC3WVI9d81C2JgJoBiXLmP6H2gKnvvxgg4bhidd06ZZFLsosQBCcnpzl-2B-2BVP= P3Co55hIUnFgR311xgz0-2Bgso5F-2FD1b4Vnwua-2B2joR0d3-2B2q99JEsO5-2FM5I0GMcwe-= 2F151BUeBwiB2JeavQApMde9eqUDvIzaORy9pUcyXB1rQjHBrtjaNNWADGHSVprky1aQgQnbAEj= uhfbHhTt5JXH3JIEGXcXidmWCpf0RwE-2B7jbNZp2Y6vtVEpg8J9sKx5SpaUoLzwEVF-2BRq17g= ARTnNS7fVqU4iB1fE5U-3D" universal=3D"true"> <img align=3D"center" alt=3D"" = src=3D"https://img.pitchbook.com/news/71130.png" style=3D"border: none; max= -width: 420px;"> </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">To add= salt into the wound, VCs' stakes in companies that achieve exit valuations= of at least $500 million have shrunk substantially over the past decade. O= n average, companies exiting in 2025 had sold only about 55% of their share= s to outside investors, down from 68% in 2015.<br><br> As the broader VC market evolves, seed stage= investments=E2=80=94and their checkwriters=E2=80=94are unlikely to remain = as they are today.</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-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6trmQYPW4SIUvPumIWjaZzN9hWkA-3D-3Db= 5cO_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyha= MVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttT= Wq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPM= gJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d8= 1CXjluRNuVwk9I-2Behd-2BxTxElrBVzO6umf3VlNQI42cxD0Ej23eINHfkuoKzvyUtcNBFj7ow= HqRhA4zveYdPJzBIpQNSEFEo5U-2BpcAQt5I6rVZP6W-2BYjrm6G5hZ2FRmOyuHMolzMm6vcN7B= 3j4wsfxXRs5LwXh549696oTa-2FRcZvlekZDpvSIttsYQ6nrPqfiXI6oi8H5LSCCyHPR2ud2P1B= ri4c2-2B4iR7v-2B59hVbQvfxojlINdjwX3dKc14ermJgsgqYuz3PWISJfo-2Bc95WDUjw-3D" = style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-deco= ration: none; color: black; padding-left: 3px" target=3D"_blank" universal= =3D"true">Read the analyst note<img height=3D"24" src=3D"https://fonts.pitc= hbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; marg= in-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 story:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6= trmQYhgi8aNt6FhoYpwko5Sn-2FUw-3D-3DbPt2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY= L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2= eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i= -2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2Fen= VKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81ANjBPE1-2FdZmJ5FjICVrN5N2TBShzlyrDEApr= 0WvWoEMYnG5xbqYqxkZInUc8hP-2Fbw2CVEFLSB-2BUYHcrnEQireld7ZD1-2FvDwDsBpvOwZfC= OO6cbu0bJwhZpYBdztd-2Bx8uMWbTGFVTJX4bxOQxt-2FbSf6YjuYTjN5IYUVEDoTXBkfyAQAZk= EvEqzS1kkrA9ax5Xno52JG5jkfyL3abGf832HyVmmB7GXLxx1UMbWsk0O7g5-2Fi73CZS-2FUsn= rZyA8e5I5VEdLYYykiCHyGghrWx7QTc-3D" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">The incredible disappearing sub-$5M round</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 Oracle NetSuite</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_573853" id=3D"n_573853" 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;"> CFO's Playbook to Strategic Le= adership </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-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6trmQYuchRzRnyVZAP6-2= BIMDmlX5Q-3D-3DUvU6_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4= wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7= nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuw= IW8wVmbSC3WVI9d81GzcPeEIKf23HqDVwuSCVXrRKORKKeVhY-2Frs99p18LrULoGgEGk2CgjHl= 40bQL-2B7Stmccfpfz1OjwjkKinKbVLsAB-2BjQDjzcXvo7olTI8tsIIuZ7bUG1n8bGgSzta1DX= VaKuPvZTcHdxgYSc-2F3I3F-2FPnwBb-2FAYsgj-2BuHQuxb3J3kU1d6csKfWwU7tX-2BYDsaUb= J838I6riPSfO9ZwZeNoVlsh-2Fmy-2FnozHHk1WzlcdD7WlTqeRshTKXLC7Ac4VcX7r5fwILBtA= 3rSkyu-2BuzxSb1d8-3D"> <img align=3D"center" alt=3D"" src=3D"https://img.pi= tchbook.com/news/70978.png" style=3D"border: none; max-width: 420px;"> </a= ></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table>Lead finance beyond the numbers and b= ecome a catalyst for business transformation. Download "The CFO=E2=80=99s P= laybook to Strategic Leadership" for practical frameworks and actionable in= sights trusted by top industry leaders. This guide reveals ten essential le= vers for sustainable value creation; explores how data and AI can drive gro= wth; and provides tools to move confidently from analysis to execution.<br>= <br> Whether you=E2=80=99re a finance leader or p= art of the executive team, this playbook will help you shape strategy, make= impactful decisions, and deliver long-term results. Take your leadership t= o the next level=E2=80=94<a href=3D"https://url6380.news.pitchbook.com/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmY= l6trmQYuchRzRnyVZAP6-2BIMDmlX5Q-3D-3Dm6u8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl= JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daK= G2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB= 5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2F= enVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81FBgc2OYUkQSVoKXGK0RuznpjjszoN6i8XTf5= x2Ij6dF1vYMqElrvuHh9Lfoh4-2B4ffRpscueUnQlTj-2BMpdHqJbdhluybhn9E6xDZXidM87kY= uiNttRr4gnZl3Cj0Nu6aKP6CiWCINiP-2BCgcrdwYMNwaInM-2F99L70RijGBrB0gnH2-2BD7qz= rcIKeChpzw1IHVq-2F5Pnzl5mAdHHdP0MBHLNBdG8kD2XSHDZZq-2FSxdVDaolBgO3oEWo7Dj8N= 0TAhsCLAF63HVjqJuaSY7PddtQquek4-3D" style=3D"color: #1D5080;" test=3D"">dow= nload the guide today!</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>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>Medline, a medical supply maker</b> backed by Blackstone, The Carlyl= e Group and Hellman & Friedman, has filed to go public as the IPO marke= t heats up. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWm2Q3V9Qq3P5WmYl6trmQYT= dEP6EoOix-2FOOJlMkmKKWw-3D-3DdTOJ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD= 5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2= BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5v= susLiTCEjhOJuwIW8wVmbSC3WVI9d81DF8dskaxDheOk7cl7S5hQJzlAxvpDh0U1MUObFxUZ66h= Y4sPKr2wZtdlmX1CRe5iMXLsUgKJhdQIP-2Fr2S7S0iKdvbAUXnbjfWWKgYMdqYl6YvNlX3Jd81= -2BgL3lU3HFns-2Bual7sYwfKgGtxLzf9ln61PElR6iro2GxnAb588Uh166VnA0hRWpM8UACf56= Fxx3ijMXreFmQgaU8rxnQRdnZjcgQjA2FPAZJ9PQvaLcRMQVAfrKV4xFY8O44YX9aUgVuztuT-2= BL0ABW7QzQCBnB00c-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true= "><b>Find out more</b></a><br><br> =E2=80=A2 <b>AI and stablecoins kept VC fund= ing on track</b> in the enterprise fintech industry during Q3, according to= our latest Emerging Tech Research. <a href=3D"https://url6380.news.pitchbo= ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz= VFiR4mk27vK3XXLtDQZModsC3jletrPRsl0c1yv0NVVw-3D-3D_xbs_Pr966knuaHmaw6c7pKvB= -2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX= 2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcv= D3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39Ecq= ZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81J-2BwNDgB-2FEDE8LXlATgP= zDziN5J477pycN-2FBiFVZLhfq-2BQ7EMc4yiEQn3nKL1KfxgemAP2SUJJM6QNW0WOVdMtJa9Q2= RyXp4uSz853swPyiOIOIIW1u6YCeMXV0X8byslV1Gkxmm-2FVXxgQmNvJMCcLqFLVabNOQbSdTV= Wp2eF3Qrf-2BHXPmaWIS8ecVNeo4Z2SIvC-2FttdnX6XAil2Xfsk6TqsCGwonLdYDwHi8lvwNru= PO2UiXs81cR-2BQDeZGd0mhSrwtUCdBCb6PwfQc6vb331M-3D" style=3D"color: #1D5080;= " test=3D"" universal=3D"true"><b>Access the expert analysis</b></a><br><br= > =E2=80=A2 <b>Just out: Our Q3 valuations dat= a for public companies</b> in the AI sector. <a href=3D"https://url6380.new= s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON= nvsnswouzVFiR4mk27vK3XXLtDQZModhqT11m2KajlT8oSUVq48tA-3D-3D3Q6g_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3= gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRa= Bk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9= Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81CPKE-2B7-2BRp5= 2qe2NawG7V4bdYrbhr0gr7pbcTnw-2FZrM5MmD39pZhBp56KvvlqLuDKkRKKSralfq7-2BnWyjT= BRfjnYQE59Mlgkjk4mtDjT2Of-2FyN9NtzbhNEFU9TRHD58d08IBzN-2F-2BfTTA3us6ZhL460U= argGJokMd23fikuX4ZT7EJ6tqOfyIvr3Rirl4v-2BCZBII06QWf9ozhQ3E1kjcIDaAYK6nT2GMt= GnD-2F4HfimUtFSBdakQd60tEgj0XVGA4yK3Xow3Qbefg8bVxg0JgnY5E-3D" style=3D"colo= r: #1D5080;" test=3D"" universal=3D"true"><b>Get our analysts' report today= </b></a><br><br> =E2=80=A2 <b>Europe is headed for its worst = year in a decade for VC fundraising</b>, pushing its capital invested-to-ra= ised ratio to new highs. A sluggish exit market and waning returns are affe= cting LP allocations. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFiR4mk27vK3XX= LtDQZModIpRl-2FvbJ7x49mnVCSsqaVA-3D-3DF7ym_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74da= KG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USz= B5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2= FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81FISrnPewt8HJ1b7f1HnaYoj6xNLdA0jIrNZ= 32av2ZgFLcwrBYqaBvxaKn0U3P4nMgJYxsu-2FR3NbRy9yOETB1rm79R8ABGBME8-2BA9-2Fj0u= 2c160LFXdKcqg2op6DcCDwZAUsaCH1nSE1gJZRMEyKskBJ7foYJHEH4S8jd9sv7222-2FMozV15= IUM8KTRLKur5HWlyDGHZSvwO3rbPr2cL7SI5CMse6RdeBTBCoAj2kZaZKOprRv2PiGCZG175bGx= kgZmy1BIE87xCz-2F8OHfLrfP4cM-3D" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true"><b>Read 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_574114" id=3D"n_574114" 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;"> What OpenAI's restructuring me= ans for its relationship with Microsoft </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-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-2BaqM7ONnvsnswouzVFiR4mk27vK3XXLtDQZModESw-2BUeJ= 0JRSt07rc1ZN4uA-3D-3DapET_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxw= xEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9= -2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCE= jhOJuwIW8wVmbSC3WVI9d81A8PLrbPQ-2B6rMpUR9grFhHkGpIQdsCQdhGrUs3OPwPYMgX81CWT= NF-2B8bIPsgOvogKGVIIfCnMNMGF1vR4as6Q27GcllinC5xzG9uO-2BNJEm4R9Z4qzAv6FB24L4= sSToTqJszxYN9-2FswU68nJH-2B1Zttf9PnWqe9-2Bfta4kJNrTBrjlSXzX7bpCmqFN69t7FTL6= scThDbbtCIXYi5sLbyaGxPUyCaX90M0UNE56l-2FpX8cNtF8Db8NZqrSmODMeHkEeHkyJzu6ffl= sTLN2-2BuH2BSkbWo-3D" universal=3D"true"> <img align=3D"center" alt=3D"" sr= c=3D"https://img.pitchbook.com/news/71134.jpg" style=3D"border: none; max-w= idth: 420px;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">(Chip Somodevill= a/Getty Images)</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"><i>By = Jacob Robbins, Technology Reporter</i><br><br> OpenAI's for-profit restructuring is complet= e, making broad changes to its relationship with Microsoft and shifting how= the company will operate going forward.<br><br> While Microsoft still looms large over OpenA= I, the new structure grants new freedoms to the ChatGPT maker, and clarifie= s who gets access to the technology when=E2=80=94and if=E2=80=94it develops= artificial general intelligence (AGI).<br><br><b>Cap table change</b><br><= br> Microsoft remains OpenAI's largest stakehold= er, retaining a 27% stake in the newly formed OpenAI Group, which is valued= at approximately $135 billion. OpenAI's nonprofit arm is the new parent en= tity's second-largest shareholder, with a 26% stake that's valued at $130 b= illion.<br><br> Microsoft previously held a 32.5% stake.<br>= <br><b>Post-AGI IP rights </b><br><br> Under the previous structure, Microsoft woul= d have lost rights to OpenAI's technology when it reached AGI. Now, an inde= pendent expert panel will have to verify and confirm whether the company's = technology has indeed reached that milestone. Microsoft now also retains ri= ghts to OpenAI's models and products through 2032, which includes "models p= ost-AGI, with appropriate safety guardrails," per the official announcement= .<br><br> The new structure also clarifies that Micros= oft's rights to OpenAI's research, not commercial products, will last only = until 2030 or when AGI is confirmed to have been reached, whichever comes f= irst.<br><br> Microsoft no longer has IP rights over any c= onsumer hardware device developed by OpenAI, which acquired former Apple de= sign head Jony Ive's startup for $6.6 billion in May.<br><br><b>Revenue spl= it </b><br><br> OpenAI has reportedly been sharing 20% of it= s revenue with Microsoft. The new agreement clarifies that this revenue sha= ring will remain in effect until an expert panel confirms OpenAI has develo= ped AGI. Payments will now be made over a longer period, according to Micro= soft.<br><br><b>Looser leash </b><br><br> OpenAI is now free to partner and develop pr= oducts with other parties and no longer has to exclusively work with Micros= oft's Azure cloud division.<br><br> This also means that OpenAI can finally sell= access to its application programming interface to US government agencies = and national security customers, regardless of the cloud provider, and can = release some of its open-weight models.<br><br> But the looser leash goes both ways: Microso= ft can now independently pursue AGI on its own or with other partners.</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-2BaqM7ONnvsnswouzVFiR4mk27vK3XXLtDQZModESw-2BUeJ0JRSt07rc1ZN4uA-3D-3= D_22M_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRy= haMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdt= tTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJ= PMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9= d81LEQoIagOu0JLC0F6-2FMRtSANyMk-2Biz69IJ49xgNVatTQwrV6-2FxCRYU2o75IOgCWtOHn= 1sfWorbArXglMGWX-2BCxHtKq8HeSXeM0G9lPL13FHTDYd3G-2FRaqAKnL9NSBG6vCycKGU0Eet= 3ZpDE0PgRdySwnvIQedd6kQTvlbmPLJTU41X7oR-2BJ2ZOtFbUFpFyzpmJ8o2KNGCtTQvu3lqAb= l64JNbK4HiHeKFPX-2BPMxmxOLWUl3kUC4LbJr63DaFSALXHLUKAu7WJ8J8YHgTqoUxkSM-3D" = style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-deco= ration: none; color: black; padding-left: 3px" target=3D"_blank" universal= =3D"true">Share this article<img height=3D"24" src=3D"https://fonts.pitchbo= ok.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; 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 lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"><i>Related story:</i>= <b><a test style=3D"color: #1D5080;" href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV= FiR4mk27vK3XXLtDQZModRDjO88OI-2F0D6681iG3DhoQ-3D-3DCzmf_Pr966knuaHmaw6c7pKv= B-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2F= X2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLc= vD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39Ec= qZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81JY2tsciCPAiQcjkIqEiW44= PglYQ7qQdhnO6TFrUSzLGSHRFuwf19SB-2FCayUvKCuEdWtnJWJazyZSODLDxfXRIBFfKr5d2Lt= FaxldO6HO9dqbjuaBVYNyrzhdQuZJgzdSfUj9nxXwrVONpOjCAt2g-2BZlcd-2FIzECvyP-2FXG= Uub0fLks52bjbA-2BnZUhbQxa3-2B0odVyo3vX8c8VMQz9-2FyJ-2BrVUqR1uoT02ugXzBiLCum= CoTOJt7wH6mh8oGoaqZ7u2ScawQOA4xKI-2FgZCkVWvCBKExs-3D" universal=3D"true">Op= enAI is finally a for-profit </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>What if Europe had a joint stoc= k exchange?</b> As individual national marketplaces struggle to promote mar= ket growth in Europe, German Chancellor Friedrich Merz proposed creating a = unified stock exchange. [<a href=3D"https://url6380.news.pitchbook.com/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFiR4mk27vK3XXL= tDQZModq8K-2FrOQK8Ffxk9kLN1IwCw-3D-3DuSW9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl= JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daK= G2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB= 5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2F= enVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81KILWJ-2F18jfKjWPKXbcqxyCs9M8Vx903Kve= 3uswu6Kjmf5XlapkMWSyBhEhbmtF3zTN1CZ8US-2BEX7vr8iRdtBpjGF2Hhyah4l9eShVjzdL48= sOuMrQ1ASS-2BMUwQcthjL20LKwQ-2BTCpRxyRP4s-2BMKu0A27KCBEgN8pmuW43lIwfXnLzwy2= 1pPz2tUOeJEKNhOgkIJaVlCHcnRRUB3qcRrZhSVSm72QxBJJUbelTUOhfm0RRDGj-2FnCma7vX0= UKHX33aHro58BP7Rrj-2BfE8HBkCGbg-3D" style=3D"color: #1D5080;" test=3D"">Blo= omberg</a>]<br><br> =E2=80=A2 <b>The private credit industry cou= ld be in danger.</b> Despite private credit deal value rising exponentially= in 2025, nontraditional loan structures are causing auditing frameworks to= fail, leaving private credit potentially facing a long winter ahead. [<a h= ref=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuyl= w7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFiR4mk27vK3XXLtDQZMod16YIKfSpvdkTqQCG4am-2F= Yg-3D-3D3_PW_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY= A68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BX= Nn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2Bj= fZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmb= SC3WVI9d81MW9MAFvgr4hNG9m0YNBnVd9qXIHTMPIqai8FIUEyjREUit51qqIgoztRB5KXFqx02= 7QqUXzvn-2FkxlJAUVCmT9MaYMAOMIRFMgCFX3hkpr0D6Lhm8-2FxcVGFbHY2vOgPT5oDH4olJ9= DZKK2WI79Wjb8pWvItd5rosCOjh1k-2B6dWsjfvw-2FnsnlmTMZ-2BGTryA-2FSps6xLOTkzHPe= TBnC31w8GhaOzKPGFNxfNC1elzL0X9xgyC-2ByQFyXCj3-2FyLEdNdZx-2BdLyNG8W4piUDR4jb= qowjzc-3D" style=3D"color: #1D5080;" test=3D"">The Wall Street Journal</a>]= <br><br> =E2=80=A2 <b>How much did Elon Musk's foray = into politics really impact Tesla?</b> New research from Yale University su= ggests that Musk's brief tenure as the leader of DOGE and his other involve= ment in US politics cost Tesla over 1 million EV sales. [<a href=3D"https:/= /url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzVFiR4mk27vK3XXLtDQZModr-2FQ1Nhrll7dLkZXGl1Wong-3D-3DZ6Lz_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo= 98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2F= LGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJggh= aSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81I0x8= NzwQkxEb0YqMc10jivN4weWXEgCrUP9QjUWRr8YabrXdh0xE6-2BwF-2BNRGnPAX8uK8yfgQvN9= 1jocUaF3Kb9INzBGpTc-2FCW408JaLRY33nppY-2F5V0v-2BDoUH88dfJERDtB0or7CGAyb9hl1= urrfimGA-2BFeUXtbLB1kItxCY2FmFjFjiITdngT2HRFRSf-2Bi7u2jAEdjO-2BlglRrYEuslE6= 2qHrq1spWdRsz-2BGDoyxMD8f6e-2Bkzz9ddxrfEdrAb-2FLpY6zEUUQbQ6DzygjBor8gPg-3D"= style=3D"color: #1D5080;" test=3D"">Fortune</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; " 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style=3D"font-family: Roboto,= Arial, sans-serif; font-weight: 700; font-size: 14px; line-height: 27px;= color: white; padding: 26px 57.2px 37.3px 57.2px; white-space: nowrap;">Si= nce 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: 24%= ; min-width: 24%; 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;"> 865 </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:= 24%; width: 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</div></td> <td style=3D"display: inline-block; width: 23%= ; min-width: 23%; 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;"> 30 </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: 0 133px= 13.3px 133px;"><!--[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/products/= platform" 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-2BaqM7ONnvsnswouzVFiR4mk27vK3XXLtDQZModc-2FQ10qi9acl-2F3JrMPqc8pA-3D-3= DPQws_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRy= haMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdt= tTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJ= PMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9= d81DuXpBmmsS7-2B4kIWIZCaW5k0OHRn-2BBwzp1zX-2BG1UwUar33SqLY52DetlpC1diibloeO= r8dFaBkU9gFg9ri-2BXBBGs6JwpJrCOSXMtsMYXCcYgjOdq-2Fq4OKRbX6OPL8RaTySxCjnWTqN= Y0BlIVTWfyvu1XcxnhXeOeB35M-2FpbIu3Pp1afVxn5Xi-2BxMeJlN6uDt9Ojd26xbNU2TpDvhN= kL5T87w8PZN-2FDbxUe-2F4viI-2FHf9tJTNUPnGz5IJfGMNJMXbpVz2cI6RhbptSAxFwq9bRoU= c-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;"> 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> <td style=3D"width: 20px; min-width: 20px;"></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_574110" id=3D"n_574110" 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 PE 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: 69.64285714285715%; mi= n-width: 69.64285714285715%; max-width: 69.64285714285715%; 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">15.60%</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">22.40%</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;"> 0.33x </div> <div style=3D"font-family: Roboto, Arial, san= s-serif; color: #000000; font-size: 16px; font-weight: 24px; padding: 0 0 3= 0px 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= swouzUpa-2B9G502-2F6KhpHU2WFUuRfKRXuvn0WK8jRDxWYQMNAA-3D-3DP-yP_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3= gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRa= Bk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9= Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81LEozksE9MgbF3U= WcQ3phh5ALXMIb1piA2aZxYnWuY-2F2kpTzqxrBBPj87jyzpfl6y45E00CD5F8MGJzeMFJTUTRI= AvpVS6-2FXGrIe3STgGiyDIROd7mLO0Xhz-2BY8jQ7rLeicoKITthH61RyXc3ffCIs44BybyqWG= u-2BtEYkLckeoirc-2FtgJMzzjjujUJeLXQB9ekfNn3tXbCWeLMpiVIdJUnFHhfI-2F7W80JtFL= qa7E2677DmppwACJK5lTIBnlG0pqN9RjxR6jbrb3kBy-2F9YZi16Q-3D" style=3D"font-siz= e: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Incline Ele= vate Fund </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= swouzUpa-2B9G502-2F6KhpHU2WFUuRDUf2Nxt3huxHuyqkhPbBjQ-3D-3DL1ZE_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3= gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRa= Bk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9= Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81NV-2F3n6BRqBAn= JO6-2BlPYZpd2X-2Bvgvea3q6fqiZeiXeBZWBbah6kUe-2BMN7hjOffoMdFHlU7-2BHM6pfLsY8= u04ONDjb78UB36ps5Wxz5LjAa3y3Cw-2B-2F5vvxBpuZTxWiP6TXpJ52XLr8-2FU8wlhu-2BC5n= 5Sr9DhInnM26emVmGNfPp0E1SyITk0Fvoxu18W7Y8qjtwJWMsq82FlPmdFHhpzl04lQc3Yv-2Bd= jaidBGEQk6Bt4UbY8chmTaBHQFOZ6MtNToIZFTi8T98pS4E5cmNjJqnyKDY-3D" style=3D"fo= nt-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Tulco= </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= swouzUpa-2B9G502-2F6KhpHU2WFUuRNvgHO7gUzoMSpyy-2B8v5p1g-3D-3DR363_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwL= j3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfW= RaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jA= f9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81Le9QxkFJlQH6= iRTBby5zxZa5S2v1FhQtxrybU028AacOQo7vkT-2F8fYM1gZm5tjBbEYa8-2Beg3rXwDYnMj-2F= xKaMFcU-2FT48Cv3XmBFSQaDSZpi6f39mG5ScE21R-2B-2BjPXlJXz8S-2BQqSoRKmPSpjsTr8k= KQiX9h1n7G96pvU0Vzj0-2BUmW2FRHRGBpsAmqPpryLCFGt3gzH8gWC2F-2FXmcDEBUy2IG5EOK= EsiJQTypivxNR14VsvymZYKNC2WSguIReTId1Dyj1dZH3HwNsVR4HJd8Avo-3D" style=3D"fo= nt-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">SkyKn= ight Capital Fund II </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-2BaqM7ONnvsnswouzUpa-2B9G502-2F6KhpHU2WFUuRK5= XB4ev5VBHE8u3QTKJwYw-3D-3Dbz94_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH= R4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl= 1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2Bun= sSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsus= 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the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpa-2B9= G502-2F6KhpHU2WFUuRgQMclA4zwHyom8iTL-2FZixA-3D-3DvOgR_Pr966knuaHmaw6c7pKvB-= 2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2= 001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD= 3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZ= fZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81Iq0MWNOGjmEWDpTTdWOoGPIF= Lu5FecKd95JhC18jM0iQm-2BRNXATr62s2jqiKDa1BRG8UE6iYv7H-2F8lUAnEiEqkI1ee0zkZ-= 2F4fBqpzLqpEHblXC1eoPpoMehUVOfS1Ob65RwTvjnuoN56bkMSI3FeoaXLsonp-2F6xj3YVjPW= MUu1tXHpqO7vB6iAWWKvkD9Pww5cJjMWIjQCyM5yLxst93ocPgebjlZWdzaM7hk0-2FpqvwiFwx= faT-2ByxKKZvtsJUKQrmxPmmfSkb2b1jVt9NMqf6I-3D" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">PitchBook Benchmarks</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>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"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpa-2B9G502-2F6KhpHU2WFUuRrqWzyb0e4YUQ3Fg0= rm-2FRVQ-3D-3DwUVl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= 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pkeJtvI8TkOw2VDNPcGmyx4EEve-2BfGexcmyF66y4-3D" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">CapitalG</a> at a $11.5 billion valuation.<br><b= r> Credit score analysis provider <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzWZdlH-2BjF8VNuaJ4fHoaWi1YmW5C9jA3YCY4ZDXxqEbHQ= -3D-3D8DOy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn= 9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ= 34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC= 3WVI9d81IJ0Bz4mDeO5M1PCSMMSAstTsHwITaSF5p2O80V988jN-2FVsMwcFo6rT4Tk421FyYO7= eM3UpODbjcoyFSskM81xeGgJ158GevDteJMDKFpKsXkIR0-2FwLfc6tZL4CWuRtf94-2FkDmZKL= uy-2F0EIit-2Fm-2F5fENWIN3dW38PuQlcM12p94-2B2Ak2-2Fsk-2B5ug-2FPUJ76Fm-2BLVwt= 1CqS3lK7K5TVMwfkOpze9mXC5Uo6pCVdEqO2Nhfopr-2FTMnBE0iaDmjjeSOTrjaCn16vzPOyzX= qMPeRpOD1g-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Savvy= Money</a></b> secured $225 million in a round co-led by <a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzWZdlH-2BjF8VNuaJ4fHoaWi1bx66xmEQkqFCacp2V3iuIg-3D-3DwPW= 3_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMV= kCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq= -2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJ= gghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81E= Y8XYPG9BqM-2Fz4WYYuzmBJN1QftOEX0K-2FzGEXR8EI-2BRwSPuMLpYXlAXf4HRNfhMZzRG7jl= L4AB7cFZEXwqMM-2BZddG8CaYgFlAol6CcYJo6po1PWt15ot-2FP-2BFA6CL78R4ts89etTHJ06= hIKQZwNixQqAK8eTm08OCHTgKQH95qHBpRrItFWmV06K-2BO92WDqWaIy8zsalf5VL0Axkty7cH= dJxvYpejsCrZFqyVyuHpfqscVGZDqJ1tqlZ4CHg1-2F-2FbftM6GciXpmFMPfBJqLM6EvA-3D" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Canapi Ventures</a> = and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWZdlH-2BjF8VNuaJ4fHoaWi1Cx0X3Wmx= a2qvHdCI2FvWMA-3D-3DaNJt_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwx= EzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-= 2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEj= hOJuwIW8wVmbSC3WVI9d81EUiBf0-2BFjrwFjpapEqJVE0mfCIvR2x6p4xyItebfKBaUc-2F4X1= dceC8oN0U9Yto-2Fu2vI6VigKa4ngM39bYjIrlRmFhyRxEcY-2B8WqrMOfl2TTo-2FzXOe98y4Q= ggipNLX6Arm2VO3AYP80HaUE4gX2bklpIxiFMKKRif3yhiIC9yTxLICjqwA2lIXdRci9wxtYK1h= SSRKfWKoGbJKENQrC6xbpG2NmFDm60we8FO9sN-2Bzt9VAGQHLBiFqOGCoBxo19YauTRsHxDOTf= laIo3lusBXb4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">PSG= </a>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?= upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWZdlH-2BjF8VNuaJ4fHo= aWi1tsa-2FX03-2BN5OAJ-2F-2BHbHFmUQ-3D-3D6R7B_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74= daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79U= SzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U= -2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81KB1GUHm-2F5IxVuw-2BmK2y80ngJCGHfx= I8CC1cRNUE79n9b3YWdOxrUbZf1Fs-2Fq1zdHqc3MYI6t5QxKXNm9znFE1EwUwrVfF-2B3B7KLG= F-2BA9IMOIZF9f0I7PvT7eZmu2cJxrvaag-2BmYhv7iMIAjK7M-2B6qQoWCRo2Kjrn6aaPpyv9i= H1uYW2x-2F0Ko-2FBeTgZUfgOYBPC2kYkgejbi0Bl9i5rkd2vcPzkz435yFWli7gR-2BYl33SVS= n4nqZ1T92TqqWTSfuayLG9GYDaZDGNThPNywHNXE-3D" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Sublime Security</a></b>, an email security compan= y, raised a $150 million Series C led by <a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzWZdlH-2BjF8VNuaJ4fHoaWi1bmKlgxq7Z5WM71P0-2BqI-2FYA-3D-3DEBHb_Pr966knua= 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d81HFZy0j3EiAGvLbK8dspDZT-2B7TFFSIdcIXg-2FQx7Y515C729-2BywNSyqWWWr4RbHHWERw= 3GpqxamMUZFj-2B1xYZ8HkgvevS4fd14M3hBKr8r0TInmGTA9CMolljHzDhPGXdwI3d-2BAzWJQ= bDD1-2FWSjcmKQuwbZXOebYh3uSfSdqaO-2BN6wE7PHQZhAkK1lEojMUhq08YFRjHbjhoZ-2F-2= FyBvCGCEZxOInoyusP9tyk-2F600fPs3ceoE76euU5TYx53RfmBJHjkflQonRTzj8xJh6gLdiTj= Q-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Zag Bio</a></b= >, which focuses on treatments for Type 1 diabetes and autoimmune diseases,= launched with $80 million, including a Series A co-led by <a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzU3GmvR-2BS5cTnnPVRyNGukhj-2Fj8pRi2-2F7We1EXK0-2Fwm-2= Bg-3D-3D8qAe_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY= A68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BX= Nn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2Bj= fZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmb= 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-2F7FEuqk-2BbacWw2dQ7EoKDIHjnmAsrkqP8mdgmlc3oNpc-3D" style=3D"color: #1D508= 0;" test=3D"" universal=3D"true">Greycroft</a>.<br><br><b><a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzU3GmvR-2BS5cTnnPVRyNGukhF-2FKoU9TJVuvDn9b-2BW-2FWzBA-= 3D-3DhP1d_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68= NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9= qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ3= 4cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3= WVI9d81BOAWBNzq-2Boiysgw5ArF35wE-2FOC6meYQhuidNRuDBxkufG2HqvN1RCAMpYUQLh0Jr= vsWo4gZCVnnIXQ7enbcUM1tZkZOPxYjfv-2FBqaqGgosXU823RYQkbj4UUFg9g8LjHwS0F4OOdz= c-2BvRz1JsREpr-2B7vZ9PGBJrXrFmIY78EhWa7dKpKYVfNxm0qD6t0Cr8TZMzX9EmZSx5JEXk8= P8p-2F26abrSl0Ge8YyYO3Rme8sDlSA-2BSUi3Qo-2B-2FbatFb281J7DkOB-2Bfd8Bthv-2Fd9= XXTspc4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Formaliz= e</a></b>, a Copenhagen-based compliance software provider, received a =E2= =82=AC30 million Series B co-led by <a href=3D"https://url6380.news.pitchbo= ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz= U3GmvR-2BS5cTnnPVRyNGukhEqxfo-2BmMuPRsTjiefv3BQg-3D-3DhbMC_Pr966knuaHmaw6c7= pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY= -2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79E= JLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l3= 9EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81Jya28E-2BZRWH8bMnyj= MGZNpTe5xCEMT3L0um9sgl8GfQD8MQmcMBUSZxO4hxBBkx7FuIbyjxb9VJklTQOHWkHzTz1tJeX= UvH6vngdJ4hU-2FyS2F-2B4Kt7wY69Tr0El8jSBcSjg2VIo2PHDdrzVH-2Fk7Ab4NJVvXIIENbk= CMGCfIwo24JtAorMe9gq9991vs1SYMhmnoUGKAS2aSsF2dNZPZ8kNJ8riiXrRYCcqWufhy59PHl= DGZtKtBFhcZ28W8ZjdE39DvgR6ynJXAb5FAKeLDLjI-3D" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">Acton Capital</a> and <a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzU3GmvR-2BS5cTnnPVRyNGukhSW8tGkHJ74STp8s-2BIDbB8Q-3D-3DyXiN_Pr9= 66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98= vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLG= atkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaS= Bq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81A4oczG= 9HU3VyWv-2Fe3jSKKUeOGoQHzFPXBVaBSeoPVLxz5Q1-2BSKfEalt2ig4R8OHmmF1MMw-2FXY6D= thDy5um7-2FcWUR9-2F20JQodssddUJrlosqCdBMCG4-2BgBi-2FjQq-2BEv9lOC-2F-2Ftg7R8= Uvio1Z3GK0u5IK10ip-2BlBDlc5oW2V1Dc9JVnOIAvsSEmsebMdfPKjnwhrMJQM8TF1dyz5Pbbn= jGfoCVE3pS0Omw2caKO0zRFXfUVkQuE4-2BwFx2H5E41-2BQgxIXorGW8An7ORmzeKdkrgfrU-3= D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">BlackFin Capital = Partners</a>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzU3GmvR-2BS5c= 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The Series A was led by <a href=3D"https://url= 6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzU3GmvR-2BS5cTnnPVRyNGukhZ3en4BmNbFyzGscVLb1MKA-3D-3DOOua_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo= 98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2F= LGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJggh= aSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81DzhW= NmiGREojVdUlKCBPx5CHqx6xeDX0Cwkns-2B14jwyKZLrKO-2FoqkNiHrr9pg8zkbpkCfYF8Yco= uXJkr-2FQ3CfgsXdzVRsHtXYDKXWjw5V3soFDENuInPlv05utrMpXmsFk2Fqk6DtlD8dLnCejjn= 6nZE2aHUeyn14TIpcGKow0kWZnETTRz48z5xKVA1VkPvucg7hfTYJn43QzgFoklkYF-2Bo8R4rT= 4QB5OGv8rZB7JJDl9UuGMndevLDMXcfV0naZX7iqTEp1dJHCWSWicB0T4-3D" style=3D"colo= r: #1D5080;" test=3D"" universal=3D"true">Basis Set Ventures</a>.<br><br><b= ><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVuxipbz1vSmpub= RaSQapEYckQ-3D-3D1aTw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43= kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzx= Q4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZ= J7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJ= uwIW8wVmbSC3WVI9d81GJdshgU1oa-2BrR6kJ6AWsPC2R4c1lBDoR-2BnJ8mlzr4zbUlSL4mUnU= BQPCJYeOyRE-2Blesy8PlsmR0zcYduS-2FVFvc1wYuPaD4d9P5IUZcPZEuwUkUHbp-2B7Qsz-2B= 5bp9-2FkWt-2FXHTinaORmWhDyNPYrVfb8MYEZiNKbQVEg7bEIKVwLbiBQgb-2BO166e9WBpgE5= gBeETRLviqKFN5ypav9DfCNb-2FzjGQtbghpAchy93NjdhmlMCvuqTW6jJz8JMEP1wVxb40ak6U= gr-2BKS9tOcqIjRG4M4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">Grasp</a></b>, a Stockholm-based AI startup automating investment banki= ng, raised a $7 million Series A led by <a href=3D"https://url6380.news.pit= chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns= wouzXE6I-2Fnag2HoqrQ8RkWmVuxXQyvzaaIQcs5qbd3aUn1Sw-3D-3D21PF_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQT= GY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk7= 9EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2= l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81FO9vWAR6HZoAnrLTt= hk1eepcFu3a-2Bt3O4O2QtwhMFxOS-2F8ty0iMRzdLkv1IOlM368DHlSbXtcc8WC2xsjzuFJ8-2= FnHAf5zUP6cJshicK4y7tbGkGFGLY6kmLX-2BAiXZ58BYQEsBobS13hobB-2Bh0W1dS6t-2BzeH= pZHpyPW2kzCgfjdFwbzAgBnE-2BR35hk1a3FLj8EO7l8tLd8hzMdS9BlEFRvZNo8LjUZjIZId-2= FU06u7IbAjbpz1zwJuaXYo0cfaFbpDtc2oxc2GuSRWHm9-2Fyt567k-3D" style=3D"color: = #1D5080;" test=3D"" universal=3D"true">Octopus 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 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-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVux-2Beiqqp96Noeizu3k= iSq6Pg-3D-3DIn7q_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV= f8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP= -2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH= -2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8= wVmbSC3WVI9d81CXVVJa0kwu-2B1DA5bi4ww0HH5JW7eMqWjg4Q-2FYEeKEqekM2INoSeeBcLPO= HFXxOJj5sUoTCh3-2BXBS6tWK0q520wqseGCaQwuCOWQI7IFjdTBSGHJ2ffILguJCl5Un-2BTZX= JeJ-2BtEkQt0tO-2BCa7Ai8KpSJ5nK4DnqCUo0KMp31wdAgbjb-2FSdm1TpcGASmFOtnp2-2Bq3= YDd9P4HBG0OrNqNhpiV-2FGIOqPc3uAsCYztUTpLTJHxtgOTt9hk-2FFI38trR-2BvXaZnOYF5-= 2FKvE-2F0FnBo5OGkY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">EQT</a> offered to acquire Australian insurance broker <b><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVux-2FEY3rkZXfAn50EzbdakukA-3= D-3DvpWV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9q= JdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34= cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3W= VI9d81JefZvAGbnf1juROUDO-2FBCDEkx41RClw-2Fnex6CFs4qzsK3pvzhoYPZxpCoM9fH8zq9= izydt6c3LQnyIoH6eOuIaCNYuPn0IzA0Yv5W-2F6aShXn6jnie0lkt5ZeNajm5jspZFNQN7-2BZ= n3zECsIcS9qfqGThpRZCM4TpcZKgli1CNApcl5pLC2BT-2BYT253PN8ebdOvabRZDxBijcV5TrT= DOJgXTjLAPlfPLWGLkOySDted63qbQfPOpWQQq2qCyCpL5pqsekEEhVY-2Ffv27f3CqjUYg-3D"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">AUB Group</a></b> f= or $3.4 billion, Bloomberg reported.<br><br><a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzXE6I-2Fnag2HoqrQ8RkWmVuxr0IVM8wI5opqyB6QiIyv-2FA-3D-3D9Udr_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBw= Lj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAf= WRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62j= Af9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81NcKyzudrb9e= QlFJbVhKAp3sqGXAZBQgWsU0-2BjwYk3-2BJICuB4VAJ8Cbc6Rlw3cPh7-2FNvf4q5QZD3o2DO-= 2FBdqYgvivcv-2BqkGdnquLuyw3-2BbuU0fNGjSvGhraX6ys9FkOWLAOI1coOKKz2eAaOD4wieV= TlWwVFf7TITf2R-2Bkyw4GOPs6ORWXuCZrkhFJDx278bbPOdMhPrlfLx3tvyt9vpG0YoaNWx5vp= pHdQszU-2BNEhq95g469d0GcCkyd143nzAzDbfRxxtAwD0IB8z4SAwatKE-3D" style=3D"col= or: #1D5080;" test=3D"" universal=3D"true">Blackstone</a> is investing $3 b= illion in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVu= xBJKv6nnLEa2D4A9YJVP9rw-3D-3DlsNl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD= 5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2= BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5v= susLiTCEjhOJuwIW8wVmbSC3WVI9d81IA6qX5uc7FUkjT4dbjbbO86C3O-2FqUfmxsNWPVeAT40= Kk5Bc8KZ09bAxhs7AlNWRdVwFujShWKIcr5lr106tQwR4Lgbl1WboVij4PnTwKU8-2F6NeaMZKG= Prx9qlrLdosZTDU6iJH0MOy0PkpHiU2ralTyd4Q2Kte-2BihCizLLSt6ysYCHX7b7xdQuqKjYq6= XjTVDC8LOK5Upirh9F9dJ-2B6p5BOzcEO-2B7-2FWgSTFwi4mWk4yAoutJ8AqfENQe-2BSTSlhe= 2FEVbyyUzjntjItsQr-2BWJuQ-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Humain</a></b>, a Saudi Arabia-based AI specialist, in order to b= uild and operate data centers in the region. Humain will work alongside Bla= ckstone portfolio company <a href=3D"https://url6380.news.pitchbook.com/uni= /ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXE6I-2Fnag= 2HoqrQ8RkWmVuxwrkwX5873VNgCL7DHcAqoA-3D-3DQvVl_Pr966knuaHmaw6c7pKvB-2BCEiDn= j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY= 74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k7= 9USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh9= 3U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81PMqA9EVa8M3vJGrFlfhG6Mwl1jARHiR= 6-2B7P3-2BVdIZ6mhcYOHhaVH9rx3X1YIM31Ny9xZYXcuQ8s5rvSOpemN1V3BTIXPm1If85LFP3= 1cGz06UcUTrPt4B8gFoiYHkl0tbJ9vAqFvPlMcrsQHkYSA2LlLjbQ5H0-2BIDF6LFJl4pUoZnbu= Vwl4tQWWMsCPW31idVIxgdItIkzEiuMGNVr4r1cOVqA1PlsGRG-2Bkm4WSWCt94c4Rg88l2j9-2= Fibm7IsyF-2FrOI0O709SLXkdhlv3OCacU-3D" style=3D"color: #1D5080;" test=3D"" = universal=3D"true">AirTrunk</a>, which is also backed by <a href=3D"https:/= /url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6= GFa-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVuxCSkWqN-2BoEkXmlbSAsTFzfA-3D-3D= YHpF_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyh= aMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdtt= TWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJP= MgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d= 81JWiJ8VRts764ayjBK3yTZwVSLjbjvXXBE5G6PIfmR2Q6E-2Flm7te1qniewun7dxO2LtJL3i0= tLQxrGJXGvD7NtlHmOrVryI-2FP87czX5hhCm7muMNmwZpbD8KsjyVmwEoTW5k8ibFFJ2LcTOpG= -2FGO0vC9PiYy9LSKtjxBcD0Z4xRP9H5EKwbmgUHkEuZNatDd0urLg7q5Zd4oYAMJgOogZsqMjL= Rs3CL5k-2FIz3Mv-2Bvs-2FYRMx0HsUQ2EjX-2B3McCgF190BQhAHYlCm6dU-2BouZvhnJg-3D"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">CPP Investments</a>= .<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXE6I-2Fnag2HoqrQ8RkWmVuxll-= 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GBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGat= kAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq= 62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81DkH7JAM2= wEhybDPf0KTYEAKQoE8o3giwqcVMbHHOjlJtHMbLo65DegWwA12yRS-2BycSoq8UxZbLfJ-2Fk9= M9vkHzNon3G9ptQIWuF0NgnYdP8VAK81DruhMKSue9wU-2FJAGkWXsqMaXGBCW48c3ugASVUjOw= vGdnCQOUmLS04ne0gv3EoHzwN2VIqh8F-2FcoeOt0moTigEbMhJ4OCWbU2WkIzTPkcpPIvImKK1= y3FUziivZl3IkNGzcGxqodmoFS1rwxBW-2Bia1n-2BCDf6Hi4XDX-2BjbiE-3D" style=3D"co= lor: #1D5080;" test=3D"" universal=3D"true">NGP Energy Capital Management</= a>, acquired Canada-based <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3j= l-2BMmOGE8P-2FEoV5i3DX8T6VI0auBcJ1zTb1VPw-3D-3DRChF_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX200= 1LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K= 8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZ= imMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81NKdKFxUGMI1dNJqQ5VACL6MtSC= 9dW3XMYZW4EMJN0ufkJOc0PXSQ7OtBSgSQNI-2BPKwqFnRFY9L2U7p61PmPqMj7Ju2QzLo-2B6x= h6qj7-2FVibXSyHpTviNlAMxkc12Fj4Sw-2FO56JoR-2F0n-2FJndSXrSpsX5qYoCvErNISEpws= uUY-2BhVbSGLRHQftokplJzpa5gIuYIrb0KsPNcP6PEAFJeVpBIxwsFShuOyYedhZo3ciKGbYTJ= 98hHAAHY2QcRNU0zr8Lyv1j00lqgA8qkCeXHfhWlg-3D" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Kiwetinohk Energy</a></b> in a C$1.4 billion (aro= und $998 million) take-private deal.<br><br><a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzX5a2M3jl-2BMmOGE8P-2FEoV5iWyABNKUUGv3qVOInQU43yg-3D-3Dq4C3_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBw= Lj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAf= WRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62j= Af9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81MDV3fl7H1l3= B9t-2BoIMvTyxBNspUE-2Bk9kVjEHmxkj7bEM5pbZmKnjI9MM4Zt-2BTg9d8WYu84QFDXLTUpfT= fJvQGV8XXSF3bLC9Fp6QlLvh8cQg7R0CKuwCYYsdDoEJrfsF4rrqOKj1ya4OmVWpvZJILFgxniD= WwQ4WYuVHOiSaIf0TWoPcmV8DUVlx83TwaP6FroK6xBzC1zfadx7YHaqrtCPzUwmgKkgJCIwzYH= xIqdqWihQk4aqM9pammyOmGwjULdOGXDxFE2-2BI7hvjZ8ExXs-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Long Path</a> acquired UK software provi= der <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3jl-2BMmOGE8P-2FEoV5iV9t= HaMQRvV9HkdH5nt8S2w-3D-3DZJSi_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1= uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2Buns= Suq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusL= iTCEjhOJuwIW8wVmbSC3WVI9d81PydT6QOj1-2FQY9n3A0CiJ1yoda-2BSmtnogES-2FFsZeDP-= 2BpoGSr9-2Bk9GNeUPNXZ6zJYrKM0jJ59gmsGLPlrRnxT3vbL1EaXkdmlsOJ1RSfQjC56i8j-2B= 8NtE6xiiu3xNeI4h-2BRD-2F6gcwRQhZbeXS-2B-2F5Dat9XLBWRpcAGoKk4yeIDnSzoGxyDRzU= VyFTMdsmgL0JBl7lUizaoUoL0sCw8IA5THFVx4-2FE7-2BeF5Ua221hLb4RS3M06i1fN6DZazOz= roHtJR0z-2BWasO3of69w7tpNlKL7q4-3D" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Idox</a></b> for =C2=A3339.5 million.<br><br> Toronto-based consulting company <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3jl-2BMmOGE8P-2FEoV5is-2B78PG2QS1A-2B5= UhnJVtb3A-3D-3DrbcH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4= wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7= nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuw= IW8wVmbSC3WVI9d81P-2F8SG0oiM9sFZ3vyJPsj6exJlQQK2R9APnuA9dtSCWc2INVE8rX-2FiF= -2FEHG7OjJgdC-2FeGlPhRCNAGnL3NhAeSvqeAnHC5YF9VXyyFT6fktTCNKFdKW79RBDwwfOpAi= a1S76zwwa1vDCwJMIRKxEnlzAhAXs9O-2BIhdKSIHvhcffdz0mpgbLI-2BsvsUzqkL3ZaMwcrNq= D8vuyKgEYcDfdcqekEFFpVbGzYJce5TH5S5mAeE962-2BLuAPSkwImqDgrKDzjRbIixzJKHfN4A= 7ZR-2FELyBI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Elec= tric Mind</a></b> raised $100 million from <a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzX5a2M3jl-2BMmOGE8P-2FEoV5i1VHBtX1crdDhsvx-2B4wKR-2Bw-3D-3DZd1__Pr966= knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vI= GBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGat= kAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq= 62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81AkLtxWqg= n1U8rE6Rh0wWIjXBtpndkmBsSG8-2BGcmKUC2oRN3NihPzpoER-2Fhg5usmuIABdFvCwe88838o= ZiAWNpUpfECgXF3zsXfqlq6x7XnPKfn73uYgtXRGMxDpoepiEHHzRZyrRdU2pXXFmmIsooeYVZN= Ex85C6uck-2BBr0mqUe7WHyWyU7FoEze5OhPAS3RkTk2iM90Yb8-2BQqNWIW5jJagZcfryMjoph= 0FYGaJeBn3FO4jS4N99UcHQziBs6T5jTc-2BM1pvb0k9A9c1g6tsoKM-3D" style=3D"color:= #1D5080;" test=3D"" universal=3D"true">Motive Partners</a>.<br><br><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3jl-2BMmOGE8P-2FEoV5iQ7ABHgRUDLfEGmLUb= fktGw-3D-3DgdWx_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-= 2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-= 2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8w= VmbSC3WVI9d81OUKy-2BQTqMQN5KZXETyDm3uP4Oj3JXL40E3kbL-2F8A-2F4x6BmonzDw126jQ= iHHUhb7BElOtpMmm4gDZpMa-2Fxw-2FmXgcDhxCC51LS52mlsQ-2FHl-2FEeSNVOBa8xK1MOls9= BkwQHitlu6n0Q0wboV0bMLd-2Fa5SGDJj6Sw0asnvhAc0o-2FFLTuYCuocnwrc1WVB5AhND5lSq= dfc4DVNHk4jZdWZdIyi2YmYtX4-2FRoQ-2FEFTBNFW7vnckcgqMoKwNWi-2BqfU97iur8KBSMzN= wMmmpVuFbeR5nLM-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Main Capital</a> invested in <b><a href=3D"https://url6380.news.pitchbook.c= om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2= M3jl-2BMmOGE8P-2FEoV5iwp5zL7oKZJPDb15fNHMV-2Bw-3D-3DaT5D_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2= FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJL= cvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39E= cqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81H-2FM5xI87D03VkZ3xFLI= JgY7v-2FZ0O44vPY1w64CQJKaaU8s2mD9wzqN0DReLzah6XLkcdzvA7f1VWbebFgtbo3MtaVzNn= mE6SlNSft8Rv07qmAOI3XCTpUn4dgbjuNq0UKNkl6q9-2F5Pj2R5lhj5VLBGwTt04mvsQ8WXv-2= BX7ls8Raw3I-2BhVVnS41wEMyELpM3d7sjFG9po9Ay1V-2F8oAnSdaFV0Slx0ywt7yhEDktq98-= 2BY7QkyC78gEKPdwoLSHtL9p79jltbj-2FPOaL-2FMstInjrPA-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Shippingbo</a></b>, a French logistics m= anagement software provider.<br><br> Fairlight Capital Partners acquired a minori= ty stake in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3jl-2BMmOGE8P-2F= EoV5iiY5PF9YOTVjDk1pkI9OYeQ-3D-3Dy-EU_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0= YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN= 2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2= BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVK= Yf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81M-2BUf8-2F39JyeKcgsdx1AHPgSDzJToCM8gk53M= WXi2OivAgiDvkmMhhDbvnNDcaw1bFJ23jUV50b906mYYprKqzor6lrLDQhZXcK5UgtbLF45d1ru= LHEvaJoyF5iEf2D9-2FXbccAkvVuL6ihndjGIbD6bDxn9LpzcVFV9EPkXn95-2FTdzeRsVCHHZX= sTuYb5MtZevsVsOPeRHtDC3-2BD62gFnIR-2BPOaZKO3gIfpzOs-2Bef0tuakKerj9MtlAa-2BG= jtLuhHC5BrqTmfoYju143ed1Qkin0-3D" style=3D"color: #1D5080;" test=3D"" unive= rsal=3D"true">Noviscient</a></b>, a Singapore-based fintech specialist focu= sing on the hedge fund industry.</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"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5a2M3jl-2BMmOGE8P-2FEoV5iYqHhwsTOIHgfR= 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The stem cel= l drug manufacturer is backed by <a href=3D"https://url6380.news.pitchbook.= com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXOQ= bumqO689MNTCB6r8snHvCQjotxRJmlQorRv3HAN2A-3D-3DFQ0F_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX200= 1LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K= 8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZ= imMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81En1MV-2FOU0Jrl3TmzcEdIHgWZ= TM-2FRvpZnHJdRLhyqldmaPh4eFoljafvab5bvvAGyUZE8aSZ-2FYIi86AStsbiip-2FszJkdXd= VNlm-2B90IHCoiopwl2Z9M5MdyTbKMofMB5lhPfaJYZtMdp4CMEKNkTkUzHoOgA4TIPuonzNKg3= 7iIzDf8dTdkIDeTlPvP8gxTnuFM9PuZaN8s48gsqOySGsKlXZZbNULO3nY02wI7QP78NI97VYbZ= 0-2Fu-2FnJP38EUvvCYa9-2F2YNfFNUiisvLP02owKU-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">Alibaba Group</a> and <a href=3D"https://url638= 0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzXOQbumqO689MNTCB6r8snHa-2Bp6wQ-2Bx3e1AJWqHSyZKqw-3D-3D_xG1_Pr= 966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo9= 8vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FL= GatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJggha= SBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81L3krL= nNqE-2BWGT3kDp34WS48XKly8431-2FTx-2B-2Bmif23n1uJEV-2Bo1OWxqMEc47ba2qjQNS-2F= 43RRXg6j06hsNtzXY0L4LKT32HhSpsZpTo5WzYSrp6BBEYOqPCtUXD9Xj8yybQZFDWYSXZhRW4q= enFP0JonqWST3ThnAHAeH4WZ-2FJ-2B4mjbEB5DGHY73QoreUvFUQJa1qf0FkwqfcR-2BKpggd0= qlKKNh2UWY65PcZAGAVD-2FyyayfsK-2F8AJTSePaSRhVyFKQb8a4W1BcfmD8LG8NudC4c-3D" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Yunfeng Capital</a>.= <br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXOQbumqO689MNTCB6r8snHw= d82MHNRWk0ObQgujClZAw-3D-3Damhc_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5y= l1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2Bu= nsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsu= sLiTCEjhOJuwIW8wVmbSC3WVI9d81DIpReqQ3RG39nsgXp0k1TCfCpoP8iTto0UpIQ7ljh7SXuJ= iL6z5I-2BCr8Ts8tEWpojKY46wXPyQhZklFqRilc5cIfeZ2u5Lb0N47lvreLscgR-2Fq-2BHssD= LNnCf7lgZtNUrMigK3KUhOJHdKQ2QxVFgzzunkvcm71QbjcjMqZV-2BM7EASNQgilz4Q8rs6wy6= Ni0qnJcVELyxGR-2BcTt5wGFi1tF5Us1ArNEmC1yfNING12c7sdcnWi-2FN4TNXuKt0dTYCqXKw= MoFm7V5aa3EjMIPBw8w-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">Aero3</a></b>, a maintenance and repair specialist backed by <a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzXOQbumqO689MNTCB6r8snH1nyZp4Vn0RwVDTZG8C-2FFvw= -3D-3DKs-x_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn= 9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ= 34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC= 3WVI9d81LQsS00qT2zIQ5qw-2BBJVZvH-2FYl2UwD2FTw4Rgw3fLiUwVy1xdi2XEfVtRXkORDSU= VXRYxPauHKx0PIUpf-2Fu6-2BCTGfqE0kmXPRaWhkIBNYKyb1pbgTW9T5bQCoAKA7p2-2BaDm-2= FEhVZQoHyovQYoKVQJYq5SBZWXyw9bP8JlShlRESZT11iyVLwqxlfIGJJ6TTYEAyyGyWYxdMgjV= TY6UOfWnfDnb-2BUEaHLFmyU3xRHUOOOKQD731q-2B4SZvCQlJ-2FYCYYzzh56wYZ61p6zdJ3DI= Bvew-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">GenNx360 Ca= pital Partners</a>, has been acquired by Nasdaq-listed <a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzXOQbumqO689MNTCB6r8snHyeAOpqMkA-2FBVL-2F15jhopZg-3D-3DEm= mB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaM= VkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTW= q-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMg= JgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81= IYowaaxFjn6PK6Z0lA10o3vqwJ3usysXel85kDuObpWEiKBJXzp6sdFDqpGUMxuVbz1gXmyNgNq= 6GjsNDmqzIUDVs3mmBm0V0TkMNVOBfgzNuHF-2BpWMjWyRhNQMqS-2BQs4YLSG48eI6b01545qr= -2BgiSPGgC559kl-2BuRUNDN2hbQ9Mi7psNAKV67hp7Wdwee5kaJUjMQSc-2FWIcWke06Bizqp7= vR6KDZ-2B5101h5izN-2FxI3EvaitrFwhcEuzTeL4cJrm8Q3enzjjP-2FzXNomyamNqu4-3D" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">VSE</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>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">German= PE firm <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXOQbumqO689MNTCB6r8snHb= GhqA4OIgYUBHQrE-2FR4F1A-3D-3DU6ft_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3gQTGY-2FX2001LUKY74daKG2eN2dKD= 5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaBk79EJLcvD3K8L1k79USzB5i-2BY-2= BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9Bf2l39EcqZfZimMh93U-2FenVKYf5v= susLiTCEjhOJuwIW8wVmbSC3WVI9d81Mz2-2FbAzyYIHcdoj2xrjW78b1GDZpxjzk9PUGv9zEFb= 0ha70dXaRG8T6aO3BUuS0YwYqPBYkWxMOdnz7nkQzywkkfU62Co1GerA7d5Qy-2FKpiDpQO8BJp= dUsjTa1B6kXiHqBl18wfNvo1iEpH-2F7jOuOS7aC9wkmxlq6MYcaZ8gVousDeP5zufHPkXkZxB-= 2Fz8QoG4qVNXUKtUmzvw-2F-2BZdyZYFOEY6QqwCnpzjSBdrbl5JCRV4GaQCsSQcegKqUmj2C1p= eI0aFT2bE5BxeCs1ipJTs-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Armira</a></b> closed its latest fundraising strategy on =E2=82=AC1 b= illion, including co-investments.<br><br><b><a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzXOQbumqO689MNTCB6r8snHAygUyfPu0sYcAL81slNnwA-3D-3DtkKL_Pr966knuaHma= w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRyhaMVkCo98vIGBwLj3g= QTGY-2FX2001LUKY74daKG2eN2dKD5yl1uwxwxEzxQ4wwP-2BXNn9qJdttTWq-2FLGatkAfWRaB= k79EJLcvD3K8L1k79USzB5i-2BY-2BunsSuq9-2BZJ7nSH-2BjfZ34cJJPMgJgghaSBq62jAf9B= f2l39EcqZfZimMh93U-2FenVKYf5vsusLiTCEjhOJuwIW8wVmbSC3WVI9d81AFBnUP8KGrb3QYd= lfBX9s8y5Of3fjJ-2B5IUWXYefWJvuHFRTYn-2F-2Fpc-2FnDLhbPBiH-2Bz1B5i99Lgvu0yngI= P-2Br-2BsHfAe83Yw6M4hHKcLGlj-2BolkoXQPSl6EbJc9znHMzN-2FccDUJmoCldO-2Fg9iBAe= pqmZOmd5sosDQXAWo6pK4MrmsFAbPpS8J9vx7x9Am-2Fr28nqTdIHUncFHtcqL5dR5VigLkaFsN= jF62ONhXqN-2FrMRapkr09nsa8IOdprL1McibZm03sr87G6hvd6dp1NyNBDb9M-3D" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">Insignia Capital Group</a></= b> closed its latest PE fund on $500 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; 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