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style=3D"margin: 0 !important; padding: 0 !important;"> =20 <table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp= adding=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri= f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span = style=3D"color: #78766f; font-size: 1px; display: none !important;"> Mega-M= &A is back; Morgan Stanley snaps up EquityZen; weight loss drugs center= stage at health conference </span></td> </tr> </tbody> </table>=20 <style> @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 800; src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne= wsletter/Roboto-ExtraBold.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 400; src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news= letter/Roboto-Regular.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 300; src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle= tter/Roboto-Light.ttf') format('truetype'); } @font-face { font-family: 'Roboto Serif'; font-style: normal; font-weight: 500; src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com= /newsletter/RobotoSerif-Medium.ttf') format('truetype'); } td ul { padding-left: 1.8em; } td li { position: relative; margin-bottom: 0.5em; } </style> <table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing= =3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo= nt-family: Roboto, Arial, sans-serif;"> <tbody> <tr> <td align=3D"center"><!--[if (gte mso 9)|(IE)]> <table lang=3D"x-main-container" width=3D620" cellpadding=3D"0"= cellspacing=3D"0" border=3D"0" align=3D"center"> <tr> <td> <![endif]-->=20 <table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"= > =20 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important;"/><img width=3D"141" height=3D"39" src=3D"https://fonts.pitchboo= k.com/newsletter/pitchbook_morningstar_logo.png" alt=3D"PitchBook"> </a></t= d> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>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= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZIgMtGA4Y4AB9wu9otOtu0lw-3D-3DhdO= l_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wl= hmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7b= wFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7= xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTc= 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<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>Goo= d morning.</b> Welcome to The Daily Pitch. The Fed cut interest rates by a = quarter point yesterday. <b><a href=3D"https://url6380.news.pitchbook.com/u= ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C= 1kb2oEtnSnQOZIDncj-2Bg9ydA48bLM3-2BSB4UQ-3D-3DFjAN_Pr966knuaHmaw6c7pKvB-2BC= EiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-= 2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTb= pY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2Bfh= FFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx08pSRCSZ= cGHWU4Y2S-2Fb0P71xv4grLTCKNx-2BUS0KRgqsSsUBg9-2FdljvprAsNvWMLZpQlCWmJpoMaIY= RiXqXStdfBvk6eZFpblCgXmCPyAdHwJUCeZZW1bbzQr7MlDDLsiBsWHdUCPDDVe-2FKEJJ-2FbF= Vv36B53w-2BoKxkzBltAwYfebao10krjmWmkuDa7M-2BMQjAqu-2FF4oCU-2FYqSzdqiZBQRGOW= li29jy1-2FnrizDN4mPh705zeiRaCDy4zeoxhhdGev1LIyrUjlumiiJNp6A6Hr3xI" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">Here's what it could mean fo= r dealmaking</a></b>.<br><br> Today's newsletter features our latest Globa= l M&A Report, takeaways from the HLTH USA conference and a refreshed li= st of <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZIzCkfwztX= -2FLpTOBoSFg6BjQ-3D-3DP9zM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7T= I6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW= 68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrk= vlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1dwpqS7VaC8PIiJwFGEchupGnyiNYObK= epYNLvQXP6nkv980U2My-2BHmqm6ntXGov3xQ1Gq2CFnn3t6g-2BoKMiMHM6kFrKUtR-2FbbUCY= NVB8uXmIvehU09AHlok3SBRHjeF8jDqjTFp6nmdBhJqureu4MOfFUxoWkeiQLqEVFr2-2FZUHFf= C78DUt5oHRIQhd6Wfxuank-2BM9ws2RQdmGxq0-2BwmpAzh-2F4z6136lz9YF4OisPFEtpOo8kl= m-2FusIzJyFTelyogrUcPQ7pu67SHPvVPmxtG" style=3D"color: #1D5080;" test=3D"" = universal=3D"true"><b>the most valuable VC-backed companies</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> <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><b><a test style= =3D"color: #1D5080;" href=3D"https://url6380.news.pitchbook.com/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZI= FQqMU5T-2B-2FTbA5Lt8Opb8pQ-3D-3D6I-2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y= QP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2F= KyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMr= q1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1= UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3UpjF9-2FdvO4KbjULHNQV= Tm88SFNZVHjSTv3diVVkbIIrJh-2F2hzlS-2F3uLC4qV5bCPbuYgD7JVr2t2BZ0FF3FfYDlZcBo= B6K3dkIA5K7tjqgXszRQAokJDmm2UXqeLtZ55WLuIEPE-2FpTpdWclJS5MBJxWnw1EZ7-2FoM8G= 2RGqM8K8AUkVK7-2B2ge6cx8gDijQN8jyoqmboVo-2FSJw4cCJyqPLpK-2Bb9Q0UVFQ8dpI0HhV= tI69o7zXVNoeWjgdocN87e8xpw295alWla9xThaSPC9tdPD">Sign up for Capital Pool</= a></b> to get weekly commentary on what's driving LP decision-making.</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_574147" id=3D"n_574147" 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 $1.7 trillion mega-deal bo= om driving M&A's rebound </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 = Madeline Shi, Senior Private Equity Reporter</i><br><br> Global M&A activity rebounded in 2025, p= rimarily driven by the return of large-scale deals.<br><br> Corporations and PE firms completed 435 mega= -deals worldwide this year through the end of September, defined as those v= alued at $1 billion or more, according to our <a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzWEJW4G4C1kb2oEtnSnQOZIezKN1PmmFfgNh9HqR1NiXQ-3D-3D7ITd_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8d= Q0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-= 2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb= -2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdV= FctWdx3XIsN6h-2BcHznLAMf2c7hkEyxiVahujvGo-2BUCHE7EU-2F-2BOJZtvk3HLoxkS0acWG= UVWbYQq50-2F2CtJGFjcNLd5Bs3Y8BrknqtZ0MlqsecZOoS79rJTD-2F7q316HUkn-2FH1F85Dg= bpMwV3Cl2f6jW9RANYJ-2FmHLt4tB-2F1khwG7mev5zGUPPTIZdOZbRJXbRW8219RuNoW-2F6bQ= q6hkUHrrHaCoBIj7VrV8VDXH52rPf2PZeSNH9mhbrM-2B8j77X-2FcBOR9EuRwlTxrIyfq1bNJ6= gWp0C8xM" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Q3 2025= Global M&A Report</b></a>, sponsored by Liberty GTS and RSM.<br><br> These deals totaled $1.7 trillion, the highe= st amount for the first three quarters since 2021, though still below the $= 2.4 trillion total recorded that year.<br><br> North America led the recovery, with $1.2 tr= illion in mega-deals during the first nine months.</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-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZI9PTmc-2FB= Mm-2BjnfbfrqDPeHQ-3D-3D3cTu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7= TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0Tovtx= W68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUr= kvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3yEW0N8pvp6gUq3mmk4Qs2GDzt7c0Xt= iqiO7lnZBYqxxBvG4ZfjDOa4pE9PLl96BJH-2BXtclTc5Mn6Cml-2FP7goe1VhzYOoUzSgst-2F= jpiptEni8Si3xGWiPQBTCdridEVGw4EFAYKHzS0Wbl6mxrwsabOeVbOQguHNIDdVMmAN-2Frltm= IXGskkoX0-2FVNUxFxbBzVvqf1YgQQRHrDWKr02tpcuC8hGdgz-2B7Bqnqb7jK53ZJL9kyN-2Bo= mCo-2FLllkJq4EFoLwVx2-2Fex5KO3HWX12-2F42lC" universal=3D"true"> <img align= =3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/71148.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">The Tr= ump administration's deregulatory policies sparked a flurry of large-scale = mergers and PE acquisitions.<br><br> The previously widely held belief that "big = deals are bad" is starting to fade, said Garrett Charon, a partner at law f= irm Ropes & Gray. This shift is reflected in the year's largest deal=E2= =80=94rail operator Union Pacific's proposed acquisition of Norfolk Souther= n.<br><br> In addition, the demand for rapid advancemen= ts in AI fostered the rise of large deals. Industry heavyweights are racing= to build data centers and supply the rapidly escalating energy demand, bot= h byproducts of the AI boom.<br><br> Last but not least, the once-wide valuation = gap between sellers and buyers, which persisted from 2022 through much of 2= 024, has narrowed, encouraging more sellers to return to the market.<br><br= > "The overall valuation environment is not as= punitive as it was in 2022 and 2023," said Jay Hofmann, the head of North = America M&A at JP Morgan.<br><br> While larger deals have picked up, the marke= t for smaller deals has contracted this year. Through Q3, the number of M&a= mp;A transactions under $100 million dropped by 3.4% year over year, and th= e overall deal value for this segment fell by nearly 25%.</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-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZI9PTmc-2FBMm-2BjnfbfrqDPeHQ-3D= -3DN6wg_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= RFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZy= aXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3z= TiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS= 65TNTcY05qMp8g5JdVFctWdx1Bm5V4-2Ff2seidqo25VTD-2BiMyUtn7krJrIww6wDU93P00Ub8= ZSdd9a-2BwP54XbxhqFjkZJW-2BTVWUbdg-2FS6ToKj7aiS42XkezNOkg0VxR7i9YxP0-2BB-2B= S1OTSRcnGIkdeEG2eBfmKAKv-2FTD-2BYwzADPrLv7mYtgN-2BacukHji6CABQ9vx1WarDE9HJk= s9wNPGEZyuRkHFSdk4wbK-2Bqyh79mNYGQQQqknRCpZ3cDsrKQSOfvnXlMjs5y-2BBmviCanZZn= MxnUQ6Pi6g4ULWcfc3GfhflaYO" style=3D"font-family: Roboto, Arial, sans-serif= ; font-size: 18px; text-decoration: none; color: black; padding-left: 3px" = target=3D"_blank" universal=3D"true">Dive into our full report<img height= =3D"24" src=3D"https://fonts.pitchbook.com/newsletter/arrow-right.png" styl= e=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 border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oE= tnSnQOZIVTm0geqAAvr68hGJr1izfQ-3D-3DgtmT_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ= YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8g= W-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2Ba= hHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkj= e5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3YJROOyRCKPJ9l0AjW= PGrHz8n8-2Blu0sS-2BRMAHgRtYs7tAwPdjNknENqvDUaKwkdY-2BvYUVqDQ18069xNXh9woBOF= lj-2FwQrqbUxhOzI3tasqQ55qpS3mnxh7V5dSIov2U-2F83NYapo2RXRcFCe8fir7TWGV71qdIL= AUX3ymxSCLcjN64k51rb4IYFdDJ0mp-2FfXK96b3Swzku-2FlpPpQ3gTy7Ygt8TVl29oh9x9S9G= TcYvNv79kAzZgHyvHLaDXQ3p4DiidfcNTO5GtqXfjOyhdj5uD" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">Q2 2025 Enterprise SaaS M&A Review</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 West Monroe</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_573694" id=3D"n_573694" 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;"> Tariffs fuel bold portfolio sh= ifts </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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" lang=3D"x-image" style=3D" font-family: Whitney, Arial; font-size: 14px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"font-family: Whitney, Arial; float: non= e; padding-left: 15px; "> <tbody> <tr> <td align=3D"right" style=3D"padding-bottom: = 12px; text-align: right"><a href=3D"https://url6380.news.pitchbook.com/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEt= nSnQOZI4CxDAolaYkDHZRmhikuE2g-3D-3DlT4Z_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY= L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW= -2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2Bah= HMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje= 5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2Plwae-2BE6zzM7DoCR= UhusXtJwfK3GA-2FZC7dPRW-2FMJbWF-2B8Ay-2Bk8vL1qzhmtpzAQX-2FOSaBJWfcGeEDigBIb= Zct7sxU2X-2BpqQD2fYp1hp2OFnDbGhBFqfss7ztxOVA8QzsNNL-2FC2YSkXg2xKgsiMETYFb2N= GuZ8KhE5UXIM2sTkTi3IXbQ5EOv-2BmPYQqOwTy9QV5Fyu5LTAedikvk56TBNnUPovkXvJRQcsE= XWGgVrjo5aZcgfmb0kSfp777FaUf-2BFzzHCgZ0wfigF1I32alera5"> <img align=3D"cent= er" alt=3D"" src=3D"https://img.pitchbook.com/news/70878.png" style=3D"bord= er: none; max-width: 420px;"> </a></td> </tr> </tbody> </table></td> </tr> </tbody> </table>Tariff uncertainty is rewriting priva= te equity strategy, demanding sharper diligence, digital agility, and opera= tional resilience. Scale and sourcing stability are no longer enough. Fragm= ented trade policies and geopolitical volatility expose vulnerabilities tha= t quick fixes can=E2=80=99t solve. Winning firms now depend on scenario mod= eling, automation, and supplier diversification executed with speed and pre= cision.<br><br> Technology is the differentiator. It turns r= eactive responses into strategic advantages, powering smarter, data-driven = decisions across the portfolio. The leaders will align investment theses wi= th real-time risk intelligence and build portfolios that flex under pressur= e.<br><br> Tariffs are testing valuations, exits, and f= undraising=E2=80=94but they=E2=80=99re also creating opportunity. In this e= nvironment, success won=E2=80=99t come from caution. It will come from bold= , strategic execution that turns disruption into durable value.<br><br><a h= ref=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuyl= w7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZI4CxDAolaYkDHZRmhikuE2g= -3D-3DHYiR_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3Ywe= zZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31= A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o= 1eS65TNTcY05qMp8g5JdVFctWdx00948uCGcyg02ncHxi8gJsd-2Fn9CNKV4axiO2g6K5r0ehTG= CBVoSPdHUWKsGXKOw7UW7qtyZnbjqvITMrk3nzORfBcdBEzd9y2IB5DU-2FsdTiNaujnUhP25NC= 0fHvJtsge65lmDOflhKUzahHQ-2FKQTl8ttVkK6QxZCA5UDCzlz8pvBw-2BfnY9ImdWEhMylwcG= fz-2BErBzjo6Y9vPV-2FLvm7cYHTgWHduPN4L4z5zuy8D8AlEcqEwdQj4f-2FpkijtSSR90MQpP= Zxs0mrOUBc9HjqVXinK" style=3D"color: #1D5080;" test=3D"">Read more here</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>HLTH USA conference</b>: Weight loss drugs were the big topic. FDA c= ommissioner Robert Califf called their profit margins "outrageous." <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZIrVDmrgwnQ1Ed-2BaaTf1P= D-2Fg-3D-3DCFFB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkT= l3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTK= DYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6= kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1wyz4qpbs7h-2Boy6hB-2F-2FhrB03JH5i8U7enasb4= 0eXIZfxK-2FP60MV8NLxDu5-2F811OwfccSrh-2Fn2xed1BHi57gKSGPHDGwDDgDJ4oa8L9ZKy6= l6PCVL9WvXYsITgTkZ3UpADPky7chfkVw4mOuJXqPFmzMZXih-2BpjttdQjdpDKH9yFqW22bmJs= PGCA7aXdt94YIky9h5yUX-2FBIz4tiZ3Qn0tAJjkdTcoWFp7PkeIeuBQki2y5Sjyn-2Bvv0Q9bV= 4nK3Mu3AqunaRtOKuAK205tMd28p" style=3D"color: #1D5080;" test=3D"" universal= =3D"true"><b> Read the full recap and analysis</b></a><br><br> =E2=80=A2 <b>Morgan Stanley has agreed to ac= quire EquityZen</b>, a secondaries trading marketplace. The move comes as f= inancial services push to make private markets more accessible to individua= l investors, including retail investors. <a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzUPsU9QDoSj1wARhd9G-2B5-2BoeZFMDXyOWJlw-2F-2BuhqA-2FtZA-3D-3Defc9_Pr966= knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0= Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S= 46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnN= CsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8= g5JdVFctWdx2eC1RgnaTF0DwnpiPWJG8DqlqavDuUfKkiSwGA1e1-2BeRBUmRjBKeAPMAFzNaVO= Wg4GGbOt2SZvj9NbhLNOit1mfGodVFNmM1SSwlOeR5EC0wFf9E8AmApZdYJcb2dyYoh-2F-2FYj= OUiZXXta1123vSk-2BIEaHAvy2UmTfz5x2WwspcE772Wzu5-2BJhBzpWlFYIzF6uUre-2BJA2qp= uM6ouqZ3DDwLLUv-2B-2Bt1700vxS86w-2BgVh2IdE6C8abKz-2FBJaVnoCSieERvadi5w-2BDj= wKRZ4sATcEN" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Read= more</b></a><br><br> =E2=80=A2 <b>Just out: Our Q3 valuations dat= a for public companies</b> in the agtech industry. <a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2Boz4GDNdLxKpgMcOSZJvUTwg-3D-3DB2KM_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH= 1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFd= NW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZu= IYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05= qMp8g5JdVFctWdx0yowCmZHNQCOa9-2BY0KNr0L-2FHT-2FE7AH3UvUAdSXvhn8dAXcHiiT3mhl= JIihiv7e30HmctWJZEFa4I51IFYhKPO0fjs-2BKnejM4-2FzDzdA0z7XDhNsg70VIcQFTaY6CqM= u-2Be79-2BsyV48JP3Rt4f-2Bhts7-2BgULdzLyrqDAsZFiMwa6ad7WKv-2Bu1Cgldjb0MDX2qY= n3BMHK3eTLgKEskFsOQv7LgGpie7RhUlFbFwEnvopc9ZOXOo5QeBts4QjBCVLHmSGVO2g9rjAUR= OKixgctO-2BRX95" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>= Get our analysts' report today</b></a><br><br> =E2=80=A2 <b>Astorg and Nordic Capital are s= elling Clario Holdings</b> to Thermo Fisher Scientific in an $8.9 billion d= eal. The sale highlights a record increase in US PE exits by European spons= ors, with Q4 already being the largest quarter in four years by value. <a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2BoFM6G6feqaBU343= 7ZwGtWHw-3D-3DkiRw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= cVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0= OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14= BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo= 5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3LUMp4wCmAPkZnThA-2F9rbwpd2zDYR90SuiEhIQ= mgwYyA2CiD9-2F7qqO3J-2BkHX2uGZNbPMN57vMJvtPiFV2mKCvu3tjbEx0HifaJksm-2BzWgFV= mz5bJ3tNPNDBH0BXxeNuqph8uFs9peB7gkVAZ2i8I7nLMhHVmSAid-2FB0SY7yzjjXQH3NB8E6u= Pign6GfHeQT97U5DAzZYmoJzPk3o-2BqgIPiB6HBMGnqXhe-2FIR1ZCUmnhmC-2FA8tDJIHWdlM= uKnySC18JjYYiwBOJDk0EkR0MQlSJ" style=3D"color: #1D5080;" test=3D"" universa= l=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_574133" id=3D"n_574133" 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;"> Betting on the next mega-IPO <= /span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-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-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZIzCkfwztX-= 2FLpTOBoSFg6BjQ-3D-3DMSV3_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI= 6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW6= 8hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkv= lehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1cKn-2B8kyyILJ7JLa-2BPxA9NKzrGHd6= oHgiidoEl7qFx4klYidOW2RmjDwFoFhTqxvbCrOUp35mNiIQvABDXlSPQ-2BarqsaxQmUBVVGiP= v7j5oXkfyMcrbuQW7XPmJc0OKRmOWg8SR7FTBm8bVQ2RWLfTyVul4zFAMYc-2F8zG96YeXlAIA4= PovmeeZ09UcWrLsipZX10iStNS-2F2odRfIkxlHYY9JqnOg0Z1O85yNp8SZ1pZfLV-2BqBemLgX= pknmXzOqj9Pm084GFF-2FGFg32x4Clt44Z" universal=3D"true"> <img align=3D"cente= r" alt=3D"" src=3D"https://img.pitchbook.com/news/71143.png" style=3D"borde= r: 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> <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 = James Thorne, Senior Managing Editor</i><br><br> The IPO market=E2=80=99s burgeoning recovery= is restoring some long-awaited liquidity to venture investors, but it=E2= =80=99s also highlighting a less flattering trend: the down-round IPO.<br><= br> Meanwhile, in the fast-moving market for VC = direct secondaries=E2=80=94where stakes in the most coveted startups trade = hands=E2=80=94the hottest venture-backed companies are still commanding hef= ty premiums to their last primary rounds.<br><br> Consider Anthropic, which raised $13 billion= at a $183 billion post-money valuation in September. Its estimated seconda= ry market valuation has already climbed 13% higher, to $207 billion, accord= ing to secondary data provider Notice.co.<br><br> The PitchBook 100 offers insight into which = startups continue to attract strong secondary demand. The list ranks the 10= 0 most valuable VC-backed companies, pairing each with Notice.co=E2=80=99s = latest secondary estimates.<br><br> On average, those companies still trade at a= 14.1% discount despite that gap narrowing by more than half since late Feb= ruary, when the rankings debuted. Notably, IPO hopefuls like Canva and Disc= ord continue to trade at sizable markdowns.<br><br> Secondary sales of startup equity have ballo= oned from a niche market into an estimated <a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzUPsU9QDoSj1wARhd9G-2B5-2BoQ3RNiypMShHq3oir4jeo4g-3D-3DjNh4_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8= dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1= -2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfA= b-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5Jd= VFctWdx0EMW2ox5F0vRqxBhcaHO0iOEdoHv13YAK0lcVNRRER1LYcNyzZmxPENhClmGlC4NsW5w= UZbC83dHwwtrYAmjGUM6uZ-2BxPyTJF5Q4Lgaj6W85Sxergos4-2FQCv8jMnjifNNOsrbIDxc9w= P2JbiIWiUsE04Cd8EaBUr6AIZ3dMjG20E51uoEXdPe-2F8iyAydEGTb51b0V7KfeFg1PuPq2KwM= 2t9fmAekAAkwrTmPlrU71-2Bgwh6hy11jIoluNd2VnzcCvQRXZuyY27eoON5lb2ZdB1-2F" sty= le=3D"color: #1D5080;" test=3D"" universal=3D"true">$61.1 billion industry<= /a>, as liquidity needs=E2=80=94and investor appetite for names like OpenAI= , SpaceX, Anthropic and xAI=E2=80=94accelerate.<br><br> Investors will soon have new ways to access = private companies, from private equity exposure in 401(k)s to indexes that = blend public and private companies. As those lines blur, secondary markets = are offering a preview of which businesses might define tomorrow=E2=80=99s = stock market.</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-2BaqM7ONnvsnswouzWEJW4G4C1kb2oEtnSnQOZIzCkfwztX-2FLpTOBoSFg6BjQ-3D-3= DAtef_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRF= E9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaX= VS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTi= XWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65= TNTcY05qMp8g5JdVFctWdx36RViS3kQ8mb5Uy2xqhsbQAnFqow-2BVQS6hMkjN3VY3ogHISqrMV= HKYMbchjA8uozbMWSNBbbaU-2BlczY6Su95ykoXHD5qWvtKPCjWD6v9Q4g32hmOgmhuQgbTsrBc= Cy0LLu2L3JVfYz-2FjPMMw0dhWLP6q3FrypkUJ2v8UQ4FOC68ZEG8R6FTBQ6aaj7hg1S2hoMSmD= aA4FxdtldOaewMguEvcpN6AyU6hvB3Wi0f8fmYaxD2fcg-2BecIOe8qDib5UxkLqN-2F57t5L9n= uBJBC74GeU" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18p= x; text-decoration: none; color: black; padding-left: 3px" target=3D"_blank= " universal=3D"true">Explore the PitchBook 100 dashboard<img height=3D"24" = src=3D"https://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"ver= tical-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 border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUPsU9QDoSj1wAR= hd9G-2B5-2BoRfRMVrtq27qBuMZJ8mtTyA-3D-3Dkh0q_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxM= pM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7= -2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECi= DEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2ZKIOJw932OM4G= OFnsvmIIUozKDafi-2BgilEQNMPRZJGOHu26ae7jWIV4ZTWhjtA0anXzSIWfxkdBU8-2BybGhtA= H-2Bww0Yhz4hyU3pXakMx3QLB3jiPaVRHbR83Ux715EF2B-2B-2B4ezGTMGB8hXLfpUz9dBed-2= BeNCAutGpq7h2v56WUXejmbihmMceV3yeaVkJ7CwkG9GXrA7C-2FQQ0Rgtz10tlrrjLcYZuNOiu= RO3WIfvhQfZ-2F68Zesd4G-2FGeSksIHRDgde4weB-2BXB5o2MsmKcNf2ZH" style=3D"color= : #1D5080;" test=3D"" universal=3D"true">Sizing the US VC Secondaries Marke= t</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>This AI startup is blocking peo= ple under 18 from using its chatbot.</b> Children and teenagers are especia= lly vulnerable to conversational AI bots disguised as companions, which has= led Character.AI to make changes that phase out chatbot access for minors.= [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73Br= X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2Bo1I6UO8wO4DNZ= QY5zNLNa5A-3D-3DAlsp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k= bMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2B= v0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf= 14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfN= Wo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1-2F4uzX0TxfaETeD-2F3hhjecAoGmLZV-2BJ0= 22maRAT4xElHWD4Zv9t-2Fjop1EMSS3bCecQkwgTCxYOsxa6HiniM4-2B58UBar8LgcBkzP5oRS= LBsiLZ4-2FdHxT9000ZZedDSzuaCjguLcaJLvTgA6pAoa5awYabbc3tH-2BWmbnFj4Q1rkhYNnw= aUCbY8tdvSBi0i3xsmlvH-2Bl-2BNS8ci8yJGb7NYt-2FGx05NSxwhGzYRFWSYwGr7fRqCoBHVt= pwquXOlhjhuq5x0gRpig8g8-2F-2F3HO2PQTc-2BG" style=3D"color: #1D5080;" test= =3D"">TechCrunch</a>]<br><br> =E2=80=A2 <b>SoftBank's Masayoshi Son is now= Japan's richest person.</b> Read more about how SoftBank's involvement wit= h developing AI infrastructure in the US has paid off. [<a href=3D"https://= url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2BoTCBsre9iLmw3-2BWYRYvgCJA-3D-3Dws9= V_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wl= hmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7b= wFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7= xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTc= Y05qMp8g5JdVFctWdx1GnuU1V0tXBsl1-2BzWLCRWgMlnVyaJhH6uL83N93n4Kje8036VIF3suH= HZuCQZqtFmGFcVGiNTutnSEXgkDG39r4TJYXyljQOJP5RvdGI7x7OSyey-2FFZ-2BnZmJU-2BcA= p3MYtk4WO0PK0w4w1XA14vBURKHbXGr4w-2B-2BZNQzMojebC0IhnwgK9df-2FvH4g8nYdGPcwd= yVzpJfi4BnecpG5UCLwBJ4Ez7XeC-2Fy8t9PPFd0tXdazubXHcGzHwM3STrUztyvRVIoEitCjLh= ISy2ux8UfjBP" style=3D"color: #1D5080;" test=3D"">Bloomberg</a>]<br><br> =E2=80=A2 <b>Pew Research Center says 70% of= Americans believe higher education in the US is going in the wrong directi= on.</b> Many people in Gen Z are choosing a different path, with factors li= ke tuition costs and a turbulent job market turning them away from going to= college. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2BoBnn= SRQGtQS1RdxjOvmYadQ-3D-3D7d3f_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9= Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0Tov= txW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaS= UrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2if0K9nfNksGpyQLn19-2Fsy4pew9= UArzHNgJNJYHKifRWiduCTwueu5AbMkiiVZecuF12SkAueikoaVCnaQ3vGSn3wQP7Jg-2Bbs9jp= 6C6sq7LY9ceMWt5Hk7-2BAzOicML1AyI-2FcNRNfwk-2FYb5mijmZt7V6Um-2BcYN6ifSuCLbQT= x0KKqR45UdSEjlbGaIjuxEQ7RvQpR8WTNsVhDpbDsyTSBjagCLD9Ybdg7eWJEbFZ-2B5lEr1bAN= nTTVxd3AR0WZveH7YECY2ScOfN-2B3WL-2F2iH0wno" 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: 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align=3D"center" 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;"> 874 </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: 24%; text-align:= center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 2847 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> People </div></td> <td style=3D"display: inline-block; width: 24%= ; min-width: 24%; 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;"> 958 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Companies </div></td> <td style=3D"display: inline-block; width: 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-2BaqM7ONnvsnswouzUPsU9QDoSj1wARhd9G-2B5-2BoVrKfenT2vqlF-2BFNFPHiIYg-3D= -3Dhng9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= RFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZy= aXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3z= TiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS= 65TNTcY05qMp8g5JdVFctWdx28Hio3VzpWuVO5Zl2Mw3hR2x3KqXsZTS2hByCIkjkPOfbdq8IOs= JUlyGED-2FEbfHbUKtwtFvURgNCemUSKBTwfUgymyXYIVac8JzUMtt-2FBBt0n6HNhE1X3GtNyl= S-2Fzf838pHhNdhdudMbAKoG4sIr2rv4NUcnxT1UhHOPmMkKpQLxatQ2hZV5Eg3E0TOYc-2BkPs= 3nv8w6FsBxhwEPWs6qsdsqM0viEbFo10IEOUGxVeIElIf-2FEtwJ-2FNNUjoJIgNjxkN0AfgmCd= xFZAncXkUng5nm" 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_574139" id=3D"n_574139" 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: 2022 Vint= age Global Secondaries Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 56.436441816715934%; m= in-width: 56.436441816715934%; max-width: 56.436441816715934%; background-c= olor: #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">21.00%</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">37.21%</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;"> 0.04x </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= swouzX1ZW8SOV-2F5NgWc-2F1TFFsLB-2Bnr4I-2FxxYX-2Fh5ulKwEo1tA-3D-3D1Erh_Pr966= knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0= Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S= 46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnN= CsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8= g5JdVFctWdx2madMfJO-2FiDdfp6-2BlQGCI6MO3U9LmaSULn1PGy4pELbGWPtOTrrdZsYd0r6d= qbcsXUHyS7r8TjeVD375M1azNvXGYIt1bOFHoV5FGA6OIN9pm3HFjENfUZwwVbUhvksbYFk9RtG= C7nw7udYI1WhCk9C2NyaqlYvkMHATVEFPdUsprKOOwckLHoZIgBYQKR6RcjBTiv2xWoitmqCiDz= B5I-2BSCiRxnwSqDnLON-2Fx789gWQxd-2FC1anZrOkY9yDgexGxRz40OgDqtirerKvqErAtq3"= style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D= "true">TPG GP Solutions 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= swouzX1ZW8SOV-2F5NgWc-2F1TFFsLBBiIEXXoijMQ8KWs4umtScA-3D-3DM9hO_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ= 0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2= FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-= 2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVF= ctWdx2GV3swz0JiQvetlIflLm7PNFkDW4de33t64k5jwu3Y0m5wdlON8UgOFAKQptvMWys-2B2k= 18qLkjWYExb1hldxfr9BPgDzcZDEIWNLBz9rgulmHuUvtDHxpQZYwjOdp-2F7wv77QEIg1FOdlF= rJpBSXTOgSLjI622OXYoqwmfm6D9KhE5dwgU5d6S1vz06LUev9UXINq4KbSOeYM8iImRW7Ka-2F= XepvZf-2BukWmxx1FWy602AYaJP7wTm6PWpj-2FL1I2h87tIT8mX0-2BAxk3Fr-2Ffn4im3s" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">Secondary Overflow Fund V </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= swouzX1ZW8SOV-2F5NgWc-2F1TFFsLByM2TLo-2BoanVOh6RG3Q05FA-3D-3D0FWa_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8= dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1= -2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfA= b-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5Jd= VFctWdx06gCNcQGUlwyeGvRDnqVhXnmfRiPyZpYYoXgsBcGuzDNPUxfPBgSD-2Fa38smdocUh-2= B1-2BFte5TvDHNg7EFoAus0As9Gfir-2B7Bz-2Bm72NHDgg8RGkmeSE71CDxIRqul30hxW-2BXS= nCo5htMjsiwuLAIgvU1zm-2FXENPpElR-2Bu3EopAGU43fHbfaTn0uN9y1JGOI-2B7rE6f2-2B3= jzLDzNvuPiHbrjNPk70620060E-2BTS0eqKvHbeM5bNL52-2BJYVXRsI4yg-2FzjcUMPGgbYEoX= dmlK7RCfIUm" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" = universal=3D"true">Dover Street XI </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-2BaqM7ONnvsnswouzX1ZW8SOV-2F5NgWc-2F1TFFsLBjy= eNbxluJSd6jOFofFSkCg-3D-3DABcA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH= R4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW= 9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0To= vtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOda= SUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2FZQAa4fWAa-2BNPUBKaF40qq20v= SPmAh7BUxo6c9w0FMcLpT18VwvJ46QYYlKyPXhLJKX779vf-2BpcfbBsEmTHol2bT3qbj6ObWEN= q2bXgSu4E2r9J6pNU08b1sdKA65daIz9P-2BYmHth9J4-2BbaXHbp7NXI8cuTIxI5yuGsMZEKn5= qAbkjaB1RbC786ZF-2Bn7p-2BJI8nOFI0diDSgU0MXUTh3Y89h-2FSw8AqISuP1dRWdm9tAzR-2= B8lXmC9eNg-2BjfVnYYMsl7cs7JkA2U-2BvgTENwYJ-2FsX" style=3D"font-family: Robo= to, Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; l= ine-height: 24px;" universal=3D"true">26 Funds in Benchmark =C2=BB </a= ></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check = out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX1ZW8SO= V-2F5NgWc-2F1TFFsLBNIxaEhUAiSDruW5RUrzotw-3D-3Dx5fB_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4= -2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghT= bpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2Bf= hFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1RoPRea= gb-2BaSNNJP8-2FiJ2eszNJYMchrEC-2Bl-2FGPKqyT1gBLWXNCBPzJZIInSmnfIVTL3PzOWDnD= 72oGCZ7gB1iDFYnNaqZYJMagAQvPHAqOsD-2BtM-2Fvm6yBA4xQJ-2B-2BEJCMJFj97XufemKBa= 89Fe6tdYwx0-2FpW8SnK-2Ff-2Ff0aE-2Fsqhy0AD6sErJuT81SZX14y-2BIzmqGhZ2-2FEHlS0= h1zwCWWlTJgSx8w-2F84VUIsmCIcjG9ikBbd4N34BnuKcR76eZGmfaVblZNOULDUSZtW8KETxfz= i" style=3D"color: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchma= rks</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"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX1ZW8SOV-2F5NgWc-2F1TFFsLBnY1SawqtLQjOS= DAQdUIryA-3D-3DBrF9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv= 0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf1= 4BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNW= o5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1AcsLSyUm-2Bno3bj-2FuMjhx767ugZgdfD4iqB= F5-2FRQ23T3j6tFnFcXAFADHGEzIJHegOdFzCCx5uKlmrTlWXVwr41J1DZtkRKLcEOwXzwaJuH-= 2BRXQQudFphKNHd5hyT4cmr-2Fwk6stZvJ7Jk9ZwM6gXl-2Fx5zbmtSFdwwqpUkp-2BmCTeEmbD= iXKbMHDfn8Fnet1TQYAvpigisUtWYc-2BmgtFTSpaLe-2B5fSCUPSQS3jHp9Nm12PhhE19tGRoT= imttP-2BTefrsSXAQRzLuvafPQqSLF3-2Fcr" style=3D"color: #1D5080;" test=3D"" u= niversal=3D"true">The Bot Company</a></b>, which develops robots for househ= old tasks, is raising a $250 million round led by <a href=3D"https://url638= 0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzX1ZW8SOV-2F5NgWc-2F1TFFsLB0731jE8C1YDLjx1G20wt-2Fg-3D-3DTwLB_= Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhm= H1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwF= dNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZ= uIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY0= 5qMp8g5JdVFctWdx2HQccja7o7NubxxscKP6xM3bWizt3JjRuHR3jDNwj-2Fk3-2FC23Pu-2Bs7= q0As9KLKaNu8rp6KY-2FXbe88h7YVqs1Z1Sm-2BCJBpgc95US7qsRq9L5f-2BFzZ27EqkD-2Baz= bGJvgWAueFTD3GPKaDw8T5FiBX9JI3hawIjy3Ntcr-2FUd3dyRiPj1ZkJFtbYLcN0L5eP9IkOlg= Gd-2B0pEsnQwL6hLutn3kdLK1LczxtjYFiLNLxR6x8ASyA8dXPM0Ws2BQIrB5Q3T4bhmgemObol= -2Bl-2FUzJQ7pAwa" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ec= lipse</a> at a $4 billion valuation, Bloomberg reported.<br><br> Legal AI startup <b><a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzX1ZW8SOV-2F5NgWc-2F1TFFsLBBCfzwsVVsJdiYhbhsUlt1A-3D-3DUyDx_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH= 1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFd= NW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZu= IYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05= qMp8g5JdVFctWdx23qse-2FHkdAbNDSj22AjG200QkGhdyBscSjDYYDK2jeJ8rU3meHZsdN3yxy= -2FtNHRD-2Bk9GVgqJMtg0fD3bFmd6HyHwxTIfV9jBTduAIIcIffbtl4vlIMm1ImgYWjo-2FYS-= 2BcC4gxAzjXStzDseeWF0L3bWv8EzK8q8QejvhSJzMQK0bNGWpp2zpjJVxKywiVWnf78wma6-2B= IfCx0cs58fiMnxo3VTjWTkssI-2FT301yP2TEdL2EQPoXMS5vaKVwu0-2Byhg2ee2OqJbUxhxPG= vdHLp2iH0" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Harvey</a= ></b> raised a $150 million round led by <a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzX1ZW8SOV-2F5NgWc-2F1TFFsLBRDFenqFKsNbszySupX0wig-3D-3DxYNT_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ= 0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2= FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-= 2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVF= ctWdx1S8qLQSXE7z-2B7CSj4PjzD22e1cJ3oBXfPM-2Bg4I5BDhzO6jhqMWyT4Ih1W3cSB8-2Bo= S-2F1wnQBI5Rbeumwn7gjjsPL6y3lBSXKLtRkSgP5b-2FGQ09AX69-2B-2BXnEgWXT7fECfPtTL= diTV-2F0AYUPvFSPuTIlv0I148miJrnYtHFyJP5-2BkoTMq0KFwYD9JWvL1BGpzm6ODRhj8zYUH= w3Gsh0P9wv79K7jwvIgJ549GgYARDGLbFaG115v5NdQGnwuL13JTl4ugiPE8gawIy1vg2E4qbSn= f" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Andreessen Horowi= tz</a> at an $8 billion valuation, Forbes reported.<br><br> Cancer-focused biotech startup <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzX1ZW8SOV-2F5NgWc-2F1TFFsLBLyvJDyPIMP-2B4Kr6WSk= s1zA-3D-3Djv2O_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8= UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl= 3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKD= Ym31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6k= mk7o1eS65TNTcY05qMp8g5JdVFctWdx0PEMA3KDrHMeYCj9TFp5SSKjhrQeZmnkARycJZjCX5Oz= 0llYU2nephEoiLgQL99s5iqGTDCdBNMAGqOCYDBAOg8FrGsVdrmLjCdvmxFI408AqBHdaTxuAa1= idP5VVOh56COLTBG-2F1zeiNNCoeeNnmCygbqiRProj496ydUVDhEj4rY-2BYxV1aAgK21nJrSi= E7eRl-2FQ8ZfTnzHFpv0xp-2BBZQ1jC-2Fn1QJa8RWZL-2FLjzolxXeT6WBhp3tvJmk74vvomgJ= Fq-2FovIGmyMI-2F9tbJ0mkUy" style=3D"color: #1D5080;" test=3D"" universal=3D= "true">Pinetree Therapeutics</a></b> raised a $47 million Series B from inv= estors including <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVLVRQGBRRgq2Wm57PMp= EwA-2FjsOmI9HGfujtjdd3MpwtA-3D-3D0pmH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0= YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2= FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHM= rq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u= 1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2YrEM6DuK-2FqLvOkvWDh= RdtscAnT07dZoZyRWG-2FgCEFXPqUWdMFIqte6QWtOHCspm6Qp4IMjzkA6kZscYhvCmWkbMZI-2= FpLpiW8Af2o05TIoCaZkSUIEvDKb6y8gutM9FE49-2Fv8F70AppzglUMSvlg8sTvU7tAjGHNguY= v1tRr2mETJwGMJAWoMhJ8bWK25Z4OFHEuRR9JAbjOB8Yb8ejTz-2Fo159K0tR5u5xG9dimQcVIi= jMX3Il2G9CS94WGFBeGGYJXiYyVuYP2tcwE1QOpbuL" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">DSC Investment</a>, <a href=3D"https://url6380.new= s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON= nvsnswouzVLVRQGBRRgq2Wm57PMpEwAhP4d2c33T-2BBRng2cz0B-2BbQ-3D-3DM7ws_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Ns= h8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46= t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCs= fAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5= JdVFctWdx2s1ejnwjud1PxFT2yMgFhpZYZN9AxkIVYPxi4zJnYYulgcBejhETN6DB1qyKbq5J-2= BMvi6M-2FCl27ysu7OH8oOkkuah4Xu29uz7en-2B01LIgH8UIIVhILbKZePiGQ2vyolybrd09Pj= LMDL4sZThMUSbyMuOjgcbfSPy3VAT73l7TvhN1Lc3NnddjBOsNoI9rG8LQ08XCBxR-2F6IRmVUy= Yq6-2FSg4NNKeyGTtFlK4pB8g6o0O5mU2Flm2Nj5KyVyOMxfewOTxY8zJkAnSkuUByf95nae" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">Widwin Investment</a>= and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVLVRQGBRRgq2Wm57PMpEwA7XclPMLyd= 33vMBIoLbfAxw-3D-3DQcAA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I= -2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68h= bjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvle= hfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3t19kXTNCQbsA2c6V3jahR90bfbMsIvIHJK= 898jwXXOUCt-2FmqGcG-2FabRYuAOLqFLogn9IZUXZWw-2FRrI77TAs03wZdrXhEyu9wuPRyjeC= et-2BMbj3FfKzVQqlKAaprhyh-2F0MlYTR7oRuJMsm7FSutRE5XjHOxkkZ8MltmnHqvq-2B-2Fz= -2BSDwN6ZdoSRdlOn5pgFD0Z1pw2AccqhJyYwEnuOH76KLeAkDX-2FnQaijBeWwDqOjyoIlx55u= amuFhiirGPdooIBtgYXEYUp-2FCzhXfGNyqol7" style=3D"color: #1D5080;" test=3D""= universal=3D"true">STIC Ventures</a>.<br><br><b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzVLVRQGBRRgq2Wm57PMpEwAPAXyMSqeaSUcCkApZOWaDw-3D-3DDU1c_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Ns= h8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46= t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCs= fAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5= 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d5mwymiAf-2BykLnlGHH-2BLXW12owh5CPgF4-2BzqUnDyO276d-2BU7qvUpT0xu4BYL6FCRbXb= x5nmCTbk6VlXqYt2jxM0SUFNLnJr-2F4VA8STllLnRBqXFALEIVLvwVuyeQT5U-2BLcCpkqeCrI= we-2BUeOPWonCCiCqq-2F5U7eK0QKQIHQZh30s8LT7S7PUuz5-2FfeGgZboQtUurwffgon5rU6E= -2BZScUqqooD6f-2B-2BQVtWgIqKktn7KJvLS094s60tiJAzhhLrP" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Luma Group</a>.<br><br><b><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzVLVRQGBRRgq2Wm57PMpEwAr-2F-2FsiDIVwGtcjCmkEzad7g-3= D-3D6JYy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZ= yaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3= zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1e= S65TNTcY05qMp8g5JdVFctWdx2gXVhWZwY-2FZ7kGK4XIblM8J56z6yBRA738vYWStJv-2FOgxr= lVkjpW75CmQ99asFJfxgbUYo9WpcwLvXeDld-2BnDLo7imnomlc-2F-2FqvH7qIHqLOQo-2B0aI= LG1-2BBnC7aLrOwAnPZ9xb4IStODrrpUKfrIq2WbDYag31gAQdePZvpGJnbI2JA-2F8-2FMbii9= Wcnfky8F-2Fx0Uz-2B3sCJVY93Z2qP0jrvSkZmoOvizDKE-2FjW6HKE0jCgxARyUiprawg1bQXN= n3yiUij-2B8V9FHq-2FqyOFYxEKM3w-2B" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">VentureMed</a></b>, a Minneapolis-based medical device start= up focused on vascular conditions, raised a $28 million Series C led by <a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVLVRQGBRRgq2Wm57PMpEwAHpQkmOzP3DeFR0mPR= lZTYw-3D-3DVjtd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkT= l3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTK= DYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6= kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2Qoy8Ea2vpBkXo7Vf05h14B4jUf306-2BJ0YMiKEy79= anpuCNtaBCfOoWCmQ089HLnsatkzGFTyrVvOw05mv0jeQ4Nv0hpPSFZV8Itt7u9TjFeVSEKZFhq= 7tBtuhOQTWkZzY0yluNdcY92567YkvdRzbCoKSXxPz0fx-2BwSPjpoMdyVzHsaklP0ngJeoY8-2= BAHk-2BbtewiO76bRILsZZZ42BT9byKHWIYgFS-2FyK6WmUyrKYqh-2BpxqIphh-2FuHYlOUkka= MzVmAT5FHPA0lkVLdOE0GhP8" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">S3 Ventures</a>.<br><br><b><a href=3D"https://url6380.news.pitchbook.= com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVLV= RQGBRRgq2Wm57PMpEwAa2zm5Xj86uGUc41tIgo15w-3D-3DA8Bs_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4= -2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghT= bpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2Bf= hFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx04q6cZM= 7NlWLSFh-2B5gB1dwH6H6PXXpCu2z7QKDMOgdhzH-2FPnScVmhYE25sZ3HHg-2B80Gdy-2BxVH-= 2BDGjx-2BqRpgVz95OLt9QHbn2U44JxID2jZszPh85SShcpsyWNrh1bF-2FhmvnfQNrV3Hg7cfN= 0S5RaXfHnEoSrjNRpDG3YQ0RI4Mkek328sD0kRLSiVtoxsFcwlGcVgTxLrgiVlq8iKwuKBpNQyj= haCcuoMTHP6768L-2BlN28TVDcCxYvYYfMxJp-2BJMbvYrN25LSpUOtGrnRBe2qb" style=3D"= color: #1D5080;" test=3D"" universal=3D"true">Indomo</a></b>, which focuses= on developing injectable treatments for acne, emerged from stealth with $2= 5 million from investors including <a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV= LVRQGBRRgq2Wm57PMpEwAhl7eDumwi6zkryUax4CQdQ-3D-3DOBxf_Pr966knuaHmaw6c7pKvB-= 2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRt= b4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRg= hTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2= BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2IiA4= iykyFm39R3jSHiNXLhv3yqPuftUs7cHuQbUoHEfeocmNRVonbd1Ykdj86snZ15riZMWKBKCnNXU= FnnES918CuQjploAxSFX79ezFiNw-2FVF7yh6kJwG0pH3KC9TY-2FRsSHWocY-2FWnSCwqA-2Bc= iufrwQhOHNgNd4ov2e3-2BzL44r-2B3vAnzxUTTnWxO7hKrrmdqUKShVv5PdT5QZeAvg4-2FOIw= NLJ52gm86sfasl7oUxcVStGM8e6taDenZT7igPdFjS2QffSIX9Yn0taOlBeUGd" style=3D"co= lor: #1D5080;" test=3D"" universal=3D"true">Atomic</a>, <a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzVLVRQGBRRgq2Wm57PMpEwA2vdI1LskEj-2BUpv0fLnHwig-3D-3D0R5= j_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wl= hmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7b= wFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7= xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTc= Y05qMp8g5JdVFctWdx1OKLOE9O1vc3JMcvIWX6AWJp8-2BAKXMrIwUQCK51wwdFJrK3anJR2ufg= w-2BLsIavKMThDow4OZxJGHyaMNl4zs-2FgWlWpNU-2F-2BhLsd0Vk-2BanKR-2BJzqq4FZbh1D= Wy-2Fo-2Fnk2iljyJy65PwZ-2FU7vBtgI45UBEYz3J8iyj-2FbjUkKG-2FoWlxvXQ8dTlIz6XcK= cl1hFcCp-2F8z-2FtF2bm861SgfFlAaIIC-2B-2FgdsZN2q5JNVFC4EIQK9zjgW7Kg10aTr4C12= Jt3kJkZycUZJIQ5NdvBRcpw2P7Ru" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Foresite Capital</a> and <a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX= 7pGJvt90Hyou7P1mdx2cWS0aSTiGyzjIyP9kR8G0TAA-3D-3Dihgy_Pr966knuaHmaw6c7pKvB-= 2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRt= b4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRg= hTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2= BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1q356= 0QQjDcGD9IdPI-2B4gFFqvezuRwTi6w0tPwol0NiIzMByzhkouv9cyDsRbYXSVYXFSLhydZaS0e= Y7c6s8fdO2KIa1J3qHwZTBH2zhX-2B6NCPln-2F83YQ6xkvDgfRXPtKWyKl-2FUuNYgyAq6xaYW= CTHrJrmsi8QP1USydirbTWbD3rNwpgeg41mszJTMdMPKG-2FTUrxv23ixmwsOsQ2-2F3xikeDNM= cyX3Jj2fZqU0ZO6f-2FL0qZQDid5s5UQ-2FUbIFsnUW0hnMN2CJ4ZAD-2BnEWzpNmp" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Polaris Partners</a>.<br>= <br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWs3UOzfD= ouVvWzRS1UIpy4A-3D-3DpIkc_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI= 6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW6= 8hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkv= lehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2Ab-2BxO2v7PSfMAMi7Dsi3i9Qw3zWilH= knY5Fx3zhyjBQ0MWWCBDQj0Oz2mk4qLscQF27rtYt9elWqy08JonZLQ7fZLZ2-2B0CiF9P8lC3u= 85cShqtpIwLmCvu406aUckKK5I53E0iZpql8GlfLAhAwhnFU5rQCuLPffXt2Mpt9wG12mb3DpKg= nkX4xN1m-2Bfa8FB2przEf46xwWwghm6sPHlA1zTrZaXDs25l85rMTJXUdc6zcLrRgkscZ3EeFk= xOIwME4uHoFZ1bCeM4YIAL7iAZ" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Reflectiz</a></b> raised a $22 million Series B led by <a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWviljmJ6o20n5ZHZygkCX-2FQ= -3D-3DIx52_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3Ywe= zZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31= A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o= 1eS65TNTcY05qMp8g5JdVFctWdx3dIT7QvglXSap8wjkNWzrIgCnGOtqF-2B5Nx6E0uooOKTkbR= -2F4JJMtSBKTjIXaxt6PcyL9-2FI6ogtYrFFayVfxwLSBX43vaBDbpYECNLBcZBnedclinJwGWo= AzhtDGd4eutjTHuTl-2FMJgZWjqwE-2BJguaBeXNvNHhAksbJiqupM4MnYLHdN6a6ZkM2UYLNg9= BXbJkTU7mIlXl2f9RiRgRrE7zwYlWTDl4PLPiYnavsx4vCusVuJIakSJ688bPMRwMgR1xi3bJcd= L6S-2B15bF8LOBmqv" style=3D"color: #1D5080;" test=3D"" universal=3D"true">F= ulcrum Equity Partners</a> for its platform for website threat exposure man= agement.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1m= dx2cW6tGsfF7yRviIdZOlnCeSHQ-3D-3DF0Nr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0= YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2= FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHM= rq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u= 1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2f3Ivv27nEzWByK6uwkzP= HYxltc9FNk7O7sQT63eET6pZoaoxL60mFKQQ81WDo56ou1nC0GLAlgUbSjc4KZzy0un74jl6O55= NFbx6eyAslbuje74mG7j6bXLtjSWHcHyAlUWgPiyVj9EahtvPal0G83QW9IbIn9hFxxAnkjr5cD= Rftx7U6kiXHb80BoNQ-2FHwGPcJkPlTCRTcL2iGpGIkdG4REAp-2B9zCCNjyIyVqG1c40shmkjg= YnmN3o2oHa0yC27mEtxS5RAihE-2FGtBebWm7h" style=3D"color: #1D5080;" test=3D""= universal=3D"true">Arya Health</a></b>, which develops a platform for home= health administrative operations, raised an $18.2 million Series A led by = <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWj-2FlXi-2Ba4ZP= Pc6c7SsEkwwQ-3D-3DJoZ-_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI4= 3kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-= 2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hb= jf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvleh= fNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx0zPBJzc9VeNgDBQXtzFWZBIlBzGLJvnlTSml= gvDHHntOIOZXtGvEvQUZmeTRrqOMsclU6zknqSts541GEQS-2BrUMwD-2FV2N5d1HJE69ye9T0O= RByJ-2Fg8gPLhxVmwjBrCqcuEQd5yShoRE5mViowia9PvxVyEHO-2FWPeO6qUxrxNhte3y6E6YK= 4-2F4sblH18-2Fql-2BV0xTyibN47VNe1PrxKL4x0JRoIobVDzjgTRv1xpP290WayKCyZIi0mgi= OeWPPsdzbFSz-2B3tkoDFbDfj50TmCNQL" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">ACME Capital</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-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWed-2FAcT5dckxVfmpdjj= W9Dw-3D-3DZ4c2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8= UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl= 3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKD= Ym31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6k= mk7o1eS65TNTcY05qMp8g5JdVFctWdx0se0KDlKYBVsNedL3cW0t-2B8XKfj5tXzCi6NUwqQxGj= 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0UZv-2BfSpSNQo04HVAmrl5vJ5-2FSYvP4ttsIO6uRaHRu1DlB-2FcemsN59l52t56wQkbwk85s= EOBSvYWxKKOzVWqTnyRd7rEe6kAfoY8xvd-2Fq7KC2ZAPxBwoo28cfCTgyPHNL2XfHrcfa348DY= iwXtrAO4LE7KAd-2BziVX" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">Jamf</a></b>, the operator of a security and management tool for Apple s= ystems, in a $2.2 billion take-private deal.<br><br><b><a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWcS9NPgGnZ9zSa8-2B3cA0X5Q-3D-3DLLHB= _Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlh= mH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bw= FdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7x= ZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY= 05qMp8g5JdVFctWdx1xiFhxON03p2YYBj0cSwKvXFmM1fP0l7BryF6OcIeAaGvaJ6frhFb3CtUj= cX0k5gwWyJq5yo9QNi3mb-2FB9zhSSMnWQSChRC1SDi9Gde9EgSZPFyV0NQLPp-2BS8bB9UBGqu= M-2Bm0eniksIgjvNWaJMSKTkSjgJv4xPfjqlo7wbhlUjEvwzjrsnEBSYWAPdSqBLosfhtXAgRvc= 73CKrcc7TTWfXsnuTWRcEuI3dcw2CweY-2BuR1-2FJmI3z5rIS7-2B51J8tOWMlBp67k33pg5sT= 88-2FFYv2" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Warburg P= incus</a></b> is investing $300 million into property-focused secondaries a= longside <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX7pGJvt90Hyou7P1mdx2cWsTcGf= Tdri78B9g-2B7qMNO3A-3D-3DJPKC_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9= Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0Tov= txW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaS= UrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx2ioplhYQXMXPqEshhB9UsXjlEMQEl= s1RbsrHpWP7MZAf-2FseMlIWqRn6KJiGYJf2zdyZZkdt26BsL3edKyrdsK95AQe6glA9PaO-2BA= G8dmicqvy7oVYIea5W8JnCgt1Dg6OGwFl0F2tK9uMBMd3xsgxRCmpIitJDeC1PhYRptMC6p-2Fh= 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ZMKp7jXGY8CAGHO" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Bai= n Capital</a> acquired a minority stake in Montreal-based <b><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzWK8N7Qw36KvTBq8-2B64gW4NpjaKBdbx-2FSMuQyi2ly8BdQ-3= D-3DuEO4_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZ= yaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3= zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1e= S65TNTcY05qMp8g5JdVFctWdx1G6uMp7z3he1P-2BekYaiZtriCC6c0YHkGyhsmTRbhRpRG-2Fv= 090uC7Nt5HwUovnjAKR9efnjuGeGwKIgN693jQpE2Bw6Hab9E5LwRLU9w-2BRqRut4fiVyqFTH-= 2BZouYF89OQH-2BGZMc4Z3wVENSLwiEbZ6WVsi8Plt2udkIZTV5b75bNeWywQY-2Fb72Irds6Vn= W-2F-2Bs69jMIWACi-2BsBU0j-2BwYwV23vlBgzFQlgIGAiqg5gepSGtigPtphhxFOO7Upbxp-2= FWiHE8aGnTlKcyMmBHyRh574p" style=3D"color: #1D5080;" test=3D"" universal=3D= "true">Innocap Investment Management</a></b>, which operates a platform for= allocators to manage alternative investments.<br><br><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzWK8N7Qw36KvTBq8-2B64gW4NUORUHXbqX54eD-2BqHVPUvMA-3D-3DKb4= 1_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wl= hmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7b= wFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7= xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTc= Y05qMp8g5JdVFctWdx3F60s9VoJ3gBZ-2B4jC533E43GlhG2fta7-2B-2FKSRzUzDPhAT043hlx= j1CFPdqIPcLBzMck3uevd8AkM5DKUITyDsjFiiz2S4hkDbbcl-2FM7LGPpJ47jYJEyvv-2BrrRT= 4xTEnq8HNxomLzBqRm1oSHgcx41oAy-2F6wQ-2BCRY0-2F-2FwHvOXYP-2FnrkSyTmbSYvSRK6o= sfKpK8Kt61um8qewChZOOr8-2FscT943Hp5JKGfQ0JDgvFhk0DLRS4grFZdGEJTHHe1wZMQQK5e= V6IkPHZY2NBy3C0Q5W" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Cinven</a> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWK8N7Qw36KvTBq8-2B64g= W4NbauXayrSLkjqDzhCGEQmzQ-3D-3D2WiJ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQ= P-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FK= yrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq= 1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1U= xcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3u07UaG-2BNr4qkQxcXk0q6= fY8yo28l4PaYzB7gArv3SU7TLECbdo881E2CH8QPJGwU3r1EFA5IQQh3i5L0jQ070DwIXZhGQhO= wEtEzTZwitS6CuVR42SaPPkqWFhvPVSBmT0Bd9txYj-2FvT-2BvYYv0-2BiQfEkowo0UAyAXWqK= WSH10sbaTFyAi-2BmMnkjK969Rf4Rdr0irMOgcIfsO0D409KeE64mfYzGh3VD44Tv6VgjctkXkX= 4pvDjDfJ1-2BPCmCU-2BxF91uw5gpFMFNjywLhFyuOiW" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Mubadala</a> acquired a majority stake in <b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWK8N7Qw36KvTBq8-2B64gW4NFF3zhiJIDFZkyL9-= 2Buy-2Bizw-3D-3D_5eS_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k= bMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2B= v0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf= 14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfN= Wo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3ANkPTel1IaOWRMEfXI2IAGYRMvOpcLB7WWY9o= danMvVFKo457IkHm9LSPL-2FN8snwH9hlRSZrFY-2B3qGP9CDi35CyVqAGOkmXyBPVVaA6GT-2F= Kk3NTgMRJEyKBG-2BnY3yH8vyGLQQcezWt13Olt9-2Fu1O6p3dK0MsTAmh0E7-2B1UHa03bKy-2= FV9on8TTZ4TlVc3N5yBe8-2Fr8CIBQb-2BGDzFBVQA55vvLWS5Xf7DGgRMVrUHIbbjoaYRBQFTF= FRm7dmW1t8zGPkLfDxZPGrw5FqasQvXs0" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Universidad Alfonso X el Sabio Group</a></b>, a Spanish priv= ate higher education group, from <a href=3D"https://url6380.news.pitchbook.= com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWK8= 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Ab-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5J= dVFctWdx3dAEh6jt-2BX6ayqKLqN9yKug5tiVuZQQTUYtvDw48mwLf-2BRpkfjEN2Adh92AK650= 7entAzdlkMft-2FeUDd-2BwN7sO5uDb-2FN0K4Y8byeRIdu79ldgCkOXyyvsUA1VOL-2F16OvxC= 3p-2F0LLdjyfEHOHOzMyQks2Qhdza8OPn0rIbv6sX6qLM2JLIinYmjX6SYIQpr95AqL-2BgF-2F= ZnEqao1E3i2w3a0DsjYvl5hFDkWWq1TFzQMJhdtgJKq-2FmWslmvyFrfklmYzCYYrGoV3cRZX7h= pomvVx" style=3D"color: #1D5080;" test=3D"" universal=3D"true">B2com</a>, <= a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWK8N7Qw36KvTBq8-2B64gW4NxxEjcEgFV4mEj= yeNKaWMHQ-3D-3Dph6S_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv= 0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf1= 4BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNW= o5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1no2F1CrhLk3dO5wR6CjxkjC04SHA-2BSzBzshU= 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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">Italy-= based app developer <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo3fCpTXYHh4B= Sqc5UYjU1Rccjo3X1IXH6oVPGoow-3D-3DHivZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL= 0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-= 2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahH= Mrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5= u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx39TVCeNspsekjwsUakJw= OmWiDMN86dYrOmyfSTwch5pNNlpMxhZojjDsAeUj88Rx2Sf-2FKlAF8lbSXbqY6hm-2BFhim9II= tZNinA3WWAYKRIPpLEzkvb0hV8jMUFfIk9M3FgjpDLW-2FB-2F7xkRlXTsvUv6ibV7qfTdtSQW5= Hm-2F4QXpWKtZLEkx5RozMlP7k8lPsEjNg0SZaHlIWd0-2Fm9UUojmOq3omEssOv-2F23PInjix= IVUCn1vvvo8KhplNFsLRJHgT2TZN-2B8vshbxZx6mblrqQd-2Fw" style=3D"color: #1D508= 0;" test=3D"" universal=3D"true">Bending Spoons</a> acquired <b>AOL</b> fro= m <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n= 73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo3fCpTXYHh4BSqc5UYcc4mSh1W2Zlg= sZEvgR5AnQ-3D-3DJjSx_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k= bMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2B= v0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf= 14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfN= Wo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx1Vni2kq9T5JQ6lBXHKwc-2FIwmYXCHVl-2BuFS= Hx3LPdhM9w-2F4Lf0ohOy43CTHtRV-2Bsq5oaOuh3K0YmJXifzo-2FP9nFH4bygWcsEY-2F6xhR= Vo8m32KG7mLN5oypXwW3t4ZsHlB1iEplIfxnKGU5gEkrAT4zWkD8OkROiAD-2FRUWLhwDtrmlzx= bi-2FItKQSmwoEWLnW5ZfoUrj-2F64VyvdvvsgLuayn2W-2FyZYvxY1hJbmlrvvKR5OPDNCt4Qw= zXiipMLbKqxynT0M-2Foz-2FoACLBjSrcQe-2BTbG" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Apollo Global Management</a>-backed <b><a href=3D"= https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo3fCpTXYHh4BSqc5UY9xKyOpaHmj5a3im9f8Evmg-3D= -3DUYBM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= RFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZy= aXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3z= TiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS= 65TNTcY05qMp8g5JdVFctWdx0SalIt3JQwK1Nnr1bN371xbm2XxAvHxBi-2BTaYhZtssl3Mp08I= MFvdSny5aPQ8VJelpL5STmIqTxjzFAO1hltBWu1hYcxKRikKoH18kve61tEujqo1eUoHcxEgZNi= zQLZysfVxf-2Fk9xIC57D8HVh5dihIdaR7FVN1QDhXc5nEC1XuRAlwTRmQ9cd9kusQZLykoPfy3= AX53LHPx29OgxtL7F3cyopxSluPa-2FlqAyExbIFrIPKRosVDUrT27YXGz-2Fau0O6H88Zo165P= jEEgbrc4xd" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Yahoo</a= ></b> via a $2.8 billion debt financing deal.<br><br> Stablecoin infrastructure startup <b><a href= 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aqM7ONnvsnswouzXZLFo3fCpTXYHh4BSqc5UY8-2BzanfBr-2FnhBhyQ3B4kGPA-3D-3Dh-JB_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH= 1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFd= NW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZu= IYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05= qMp8g5JdVFctWdx1lcFV1bNsrUp1-2BU4pLEzsxJVaWoQhAgooQXnoNnq4gmUlbynix11of4MIN= G1ifKnsYK8h3e0zOYn1hAnBknaeeoMJ-2FamSLeb30pV3y3PHR2RpsDULdZrlrkzu0GXm7mKrR-= 2Bsy-2Bz-2FWBy4qum9G5VdTEDHme8tX3mWCa4atW3x9SHVQCZxiwS4qO-2BIbnQmUPXtg7VMgr= B95wpqtBaorfXOMthWnDXMJxAO3MDz-2BNBkHrJhbHh2zk0V8cho7BiFz0jGL2wQYWhiuRbsYTc= yc5-2FVTD" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Mastercar= d</a> in a deal valuing the fintech company between $1.5 billion and $2 bil= lion, Fortune reported.<br><br><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo= 3fCpTXYHh4BSqc5UY4jG7ZuxFdsRau7iYTzGVCA-3D-3DDT3K_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2= BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbp= Y3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhF= FYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3uGrQ2ixQ= N1SBSaTii7EibJjFMCmaYiygt9kSY2jfS1CqdXgBIucfO7jYCCwn9K-2FmSBA-2B8pSyPjawugQ= 03Xxb1ozRoavqkhXuReLcbLde8LyadRuQt9NyHsThaQRSWkG1feauogBbMPn-2Bk4ucM07l7C3I= o5hMYSqFeyEBildEqL15qFr0SYtrt-2Bae8Lk4449xDS7uVsvcZGZ3IfXYOnrindKXeHvGmVCM6= FpmOpCeLGvzIxkjroL0s89hsGAB-2BTDfFM6HEfkHgGHU32ghv1PJk" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">JF Lehman</a>-backed UK aerospace, ener= gy and automotive supplier <b><a href=3D"https://url6380.news.pitchbook.com= /uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo3= fCpTXYHh4BSqc5UYllzdF0pL2vm0YLdYAIU-2B8w-3D-3DO9Cy_Pr966knuaHmaw6c7pKvB-2BC= 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sh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S4= 6t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf14BTKDYm31A3zTiXWW7xZuIYnNC= sfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNWo5S6kmk7o1eS65TNTcY05qMp8g= 5JdVFctWdx3vrU05dN2Iu6kH5rFFpCsIW1HCpSugoeHu-2B1yEgocQZdF6piW4BbiRyi0o3Qt7W= 2QOGF-2BPAQL0ufYQiTvzU2KOPNIest53F2h6Bx9J5FLvi-2Fk4IKOABYHHm-2BzuBerIq7o6Ar= oUvCSAK35FU0Qa5-2BexCZqYDO-2FadoH08le3lEuo-2B9aWBHlmnfEnRyse1jwPElNnsOmTvIN= DpIyANaui8DNEs-2BAxzZx6wbpxbWYRG8kCLjg8RynLTEq0hZJXcJfi-2FMcWcvHgOpgxKY2SQl= G3bF9F" style=3D"color: #1D5080;" test=3D"" universal=3D"true">KKR</a>-back= ed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXZLFo3fCpTXYHh4BSqc5UYKdYONXqs= STfgH4bCuEJQMQ-3D-3DeUEj_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6= I-2Bv0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68= 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<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7E53CXYmi2K9-2Be-2Bt6BBTLSPUYmti4j0k8a= YRBXBthYA-3D-3DclX__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRFE9wlhmH1na0Nsh8dQ0C6Nc4fJRtb4-2BWYxMpM8gW-2FKyrnLW9Z7TI6I-2Bv= 0OkTl3YwezZyaXVS7bwFdNW0S46t1-2FTeSjbQhRghTbpY3eM7-2BahHMrq1P0TovtxW68hbjf1= 4BTKDYm31A3zTiXWW7xZuIYnNCsfAb-2BzXnWbr-2BfhFFYECiDEkje5u1UxcOdaSUrkvlehfNW= o5S6kmk7o1eS65TNTcY05qMp8g5JdVFctWdx3nNR1jfTvOQWTOnuGnTN91NVXjXE4ZKcJzYYcmh= shoDn4mwGCLK2FjS7stx9aQGMBL1Huuruln5yRo1-2FfpOI9KzTWwA9EPUGDRUNih4vpHf8UHNs= S0Oie935KWmdDcdbaTOWQ4qCa3zpzxB-2FFxtPxZ7ZxY0KydbmtC0DfCM01-2FEdVlj3miOCnkq= 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