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The original message has been attached to this so you can view it or label similar future email. If you have any questions, see root\@localhost for details. Content preview: PitchBook Newsletters Plus: The biggest sovereign-backed PE deals, a IPO reality check for VC & more January 4, 2026 | Read online | Manage your subscription The Weekend Pitch Draper Associates founder and managing partne [...] Content analysis details: (2.6 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 0.0 RCVD_IN_VALIDITY_RPBL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. See https://knowledge.validity.com/hc/en-us/articles/20961730681243 for more information. [159.183.175.69 listed in bl.score.senderscore.com] 0.0 RCVD_IN_VALIDITY_CERTIFIED_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. See https://knowledge.validity.com/hc/en-us/articles/20961730681243 for more information. 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font-size: 1px; display: none !important;"> Plus: = The biggest sovereign-backed PE deals, a IPO reality check for VC & mor= e </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; 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font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Weekend Pitch</s= pan></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJ2Bzq3aAri9ptqvbLmtqdNzhKjCHId= x8wMS9Q5P22TA-3D-3DK8Yv_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7Tk= Aa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpSQ= ijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Zv= as3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a-2F52qQ6Uq9azSP5LAx0mvJVR-2BsGGue= xsXwNTNFFe6L7gzUN31oRGDkbj-2Br5XVsWRzfhRO-2B190Cunpn5Bwyy30Fr-2FkCYOt6cZb0h= rZUUuKW4q2i1Zbi04Dp6dyaFf2OAxRlZnjDPGsTIPjYsJS6Plby1IeHLm4NiGF5bti1RgH7GvFl= QdTqmQ43MzJRqrOvhkBLUrpzdGR6w7FlP9oxSzrV9IHOo7jAl5zZhAGw-2F1OOL-2Fa2AdZr0mC= 2-2FJwDXA-2BmmDFb-2FCtbLScsjZPUrkpPI5jNe" universal=3D"true"> <img align=3D= "center" alt=3D"" src=3D"https://img.pitchbook.com/news/72059.png" style=3D= "border: none; max-width: 420px;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">Draper Associate= s founder and managing partner Tim Draper (Chloe Ladwig/PitchBook News)</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">Tim Dr= aper is a busy guy.<br><br> The 67-year-old longtime venture capitalist = and billionaire's days are often scheduled down to the minute. He's accusto= med to working long hours, but to stretch himself even beyond the finite ti= me in a day, Draper now has a digital twin (several of them, actually) to h= elp him meet with countless entrepreneurs.<br><br> "Every tool has benefits and drawbacks, and,= in my mind, the benefits way, way outweigh the drawbacks," said the real T= im Draper of his digital twins. "There are a lot of people who have trouble= with innovation, and they just want the world the way it is. They're just = content. But, I am an innovator, and I like trying new things, and this is = a new thing, and it's a new way of looking at venture capital."<br><br> Digital twins are an emerging AI-powered tec= hnology that creates virtual representations of a person via text, voice an= d video formats. Draper has a chatbot twin accessible to anyone on the inte= rnet, along with an accompanying voice version designed to facilitate real-= time conversations with startup founders.<br><br> Naturally, I had to try the chatbot. I posed= as a fledgling founder pitching an AI infrastructure startup that would bo= lster news stories with accurate, expert sources.<br><br> I'm Michael Bodley, and this is The Weekend = Pitch. You can reach me at <a href=3D"mailto:michael.bodley@pitchbook.com" = style=3D"color: #1D5080;" test=3D""> michael.bodley@pitchbook.com</a> or on= X <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJ2Bzq3aAri9ptqvbLmtqdO-2FWe7Odq3VV85= llEPXfWnA-3D-3DYEie_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7TkAa20= 4rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpSQijwd= NM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Zvas3J= HJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a9dOX6u-2B-2BtwOpbAwRDeL1fU8fSzx6eL5YE= SeB-2BwRIKYtujRoqo7iBFbhppBslrFKdhARIxe60EY-2FLYBLWTdTMo0bOzgN4Wyh5vPqdomQw= mlf-2Fh1b9vbcR6d3-2B2u-2FlLE6R6101ZLN4FJ3wYZjoaFtnX-2FvAxTd3qMN6n5QUNZSaOE8= yq7j3sGB-2FtfHxLBBiFMIS-2BwEIBN1Oq3d3D3Izn-2BakojWB6RHyAqVVKun9sjKeNhQ1lAOx= mINLGWEm1wzgDpQ-2BcNj9kDFmCNdXmNEWiFSTNf" style=3D"color: #1D5080;" test=3D= "">@ michael_bodley</a><br><br> The first thing it did was make clear that i= t couldn't "make investments or give specific investment advice."<br><br> The real Draper stressed to me that digital = twins, still in their early days, are imperfect and the technology isn't al= ways reliable. Case in point: The voice version, designed to simulate a pho= ne call with Draper, malfunctioned during my conversation with it. The twin= gave a brief introduction and asked how it could help, before freezing up = and delivering an error message.<br><br> Draper later called the software "flaky," ad= ding that the team is ironing out kinks. There are five active digital twin= s, built for external and internal purposes.<br><br> I switched to the Tim Draper chatbot, and it= s replies felt glacially slow compared to conversing with the chatbots of O= penAI and Anthropic. But even with the lag, the tone and cadence were Drape= r-esque: optimistic, blunt and relentlessly investor-brained.<br><br> My startup pitch got a warm reception.<br><b= r> "What a fun arena to be in," Draper's digita= l twin replied. "News plus AI infrastructure is a live wire right now. Sinc= e you want this to be a real rehearsal, let's treat it like you are walking= into a partner meeting."<br><br> And it meant that literally. Within minutes,= the chatbot pivoted from cheerleading to a skeptical partner-style stress = test, asking about pricing, user counts and business economics.<br><br> The realism is the point. But it also highli= ghts a gray area: where educational feedback ends and something that feels = like investor guidance begins, particularly for founders who may never spea= k to the real Draper at all.</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-2BaqM7ONnvsnswouzVJ2Bzq3aAri9ptqvbLmtqdNzhKjCHIdx8wMS9Q5P22TA-3D-3DD= gMH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRg-2= F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7TkAa204rzWuLqnVaBR7k5Y= 6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpSQijwdNM6EVlLG-2FEjeGf= 9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Zvas3JHJUNbuudtdRby32M= w6kWlU2km-2FzTbC-2B40a-2B2E43WjviFhvt4OtxDFrfcxga7jLtOxnlIyRJeUiU0tIEyn2cir= Of6OFFUhSc4vjbzK-2Fn4SXZc9I3k-2BgRL-2BjbFeztFZLsKFkhOqgalZD5LoVeOgIEYXRUCcv= -2BVwDN-2FJaR1AJUGtHK5QyAWdyHdzc0vadG7dEbmkdWNhi932CeNj0JIDX2mxJkADZ6mSJp-2= BAPZC-2FWT500iyOwaa5LP-2Bb7JT6y-2FSR9bZwmFYDnLaexqXUW-2BZ4tNqx6MifK87qxmrlG= a-2FA7fsioGr-2BkbB35rQ0qQ1" 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">Read more<img height=3D"24" src=3D"htt= ps://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-alig= n: 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> </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: 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"> = =20 <center> <h2><b>Trivia</b></h2> </center></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-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"><img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/7= 2049.jpg" style=3D"border: none; max-width: 420px;"> </td> </tr> <tr> <td align=3D"right" style=3D"text-align: righ= t; font-size: 10px; line-height: 27px; padding-bottom: 8px; color: #78766F;= font-family: Roboto, Arial, sans-serif; font-weight: 300">Dubai (Fadel Sen= na/Getty Images)</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Sovere= ign wealth funds were major players in PE deals last year. The acquisition = of which company was the largest sovereign fund-backed deal of 2025?<br><br= > A) Align Data Centers<br> B) Hologic<br> C) Electronic Arts<br> D) Dayforce<br><br> Find your answer at the bottom of The Weeken= d Pitch!</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"> <center> <h2><b>Quote/Unquote</b></h2> </center></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">"You b= asically get one chance at [an IPO], and no one wants to take a risk and th= en become a battered stock that people aren't excited about. We're telling = founders, 'Hold off as long as you can.'"<br><br> =E2=80=94Rob Biederman, managing partner at = Asymmetric Capital Partners, speaking about the outlook of VCs on prospecti= ve companies in 2026. Read more about VC-backed IPO performance in 2025, an= d why <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJ2Bzq3aAri9ptqvbLmtqdkAD7n4Gy= GMCXZmOkQIRrBg-3D-3DFt5b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7T= kAa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpS= QijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Z= vas3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a8K-2FE2x91yalI17r3tu9sOTVPRkueHF= Cdulsk7npkpjGjmmyuJGXySIpVWQfCDFFDjqdX64OAl-2B-2B2Ozz3-2FRRh9lPnJAGjg16Hjst= ncFC0zQAdbhsUDmp5fzqVgbe1iYwg-2FU1Iib5x9AifIoEbnMVJ6hssJUysvmbsyI5dtKprjgFl= 5EOONG6ia0wBWkmWPHsuWT3G-2BdCymUFomjmuCPqCK7Lprm8-2BN-2FbpL1rqXpzhP8jXuD4Zf= By1PBG8sn5FgvtegIUn5uhgXDnw-2BVrN6ech3n" style=3D"color: #1D5080;" test=3D"= " universal=3D"true"><b>some investors are facing a reality check</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 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"> <center> <h2><b>ICYMI</b></h2> </center></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-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-2BaqM7ONnvsnswouzVJ2Bzq3aAri9ptqvbLmtqdp86M-2Bmj= EdM-2F8FahLsN40NQ-3D-3Djz3t_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYY= U7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0Nl= HpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2= B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a-2F5VoldlnX8LpITagKbZeqZRRtFN= OQvfg57Z77Q5i7vfrUdeBU4XQRmWL8qv4Jl8M1zqonpuMcAVYW0vUb2vy8J6GD-2Fmr6EHoAmYR= jmb5YUw1sjsI7BPJXD50CPIrxLyqiwzAGtw-2FvJKit3VOrZ-2BqFBFASzJUNx28ZqtMFuAC6nl= Umyw7n40ApgRyNM5ttOjrfMz3ZUdoRuSvwsepvq-2FbYkQ2xOPvyo2BvD5O1ZiuGAcPKSLRY-2B= iUpLmiBOgbhaxR-2FdFic5sIfTyl0hsVEDS7h0" universal=3D"true"> <img align=3D"c= enter" alt=3D"" src=3D"https://img.pitchbook.com/news/72060.png" style=3D"b= order: none; max-width: 420px;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">Finance, philoso= phy and children's books made it onto this year's list of favorites. (Mara = Potter/PitchBook News)</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">A sele= ction of our articles from the past few days.<br><br> =E2=80=A2 <b>What's on your reading list?</b= > We asked a handful of investors and service providers what has been keepi= ng them informed and entertained this year. <a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzVJ2Bzq3aAri9ptqvbLmtqdp86M-2BmjEdM-2F8FahLsN40NQ-3D-3DmjIc_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb= 4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQi= QIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kP= a8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2F= zTbC-2B40a-2F7rku9GhTiMAqW8Gmp2Phkk-2BuzIqgNB5B26n-2BS2ZZKVL39DmuDSg2CeHsii= BTqB9H2Y0x1VPWmOdzTOATkfeVEPfzabQdUSwgGV2JDi1F9QJuhm5zZ6oZvTLWMndkEq2APYNX3= TusE-2BOGM1A8dkMleO82QQ8IcSl4Twif9xGDpJ9pntUy8xtUE1BGVFt2FgWdLRrJpnL1IFRsd2= pjSbRbrhJbAeLHwSraYkANhcB9GdXjmzlxeh3CiHhksRDIRXgNhQ8X7dH-2Bsz9zXTAbzPCS1" = style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Read more</b></a>= <br><br> =E2=80=A2 <b>It's been the year of AI=E2=80= =94and some folks benefitted more</b> than the rest. From "acqui-hired" tal= ent to the San Francisco real estate market, we think these were the bigges= t winners of the 2025 AI boom. <a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJ2Bz= q3aAri9ptqvbLmtqdjyqfcqtINrRqAfhDHkT5aA-3D-3DVURY_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUB= Ekh64zTr81HFgh8CSC6SYYU7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf3= 85SSg-2Bn-2BAhThfSZ0NlHpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3= upVgWgdQbxuYd25Pif8v-2B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a-2BiGrQ= 3CHuKw1qWdEZomi51D4C6ZaHn-2FT0Rr7RzFliUzOg2OomxNTy115nmZSVUL5D4NP1eNHbwDcNm= KmZc34h2HvJDcRWIkAbd7sxi19oDHf8hHmq64UJ4ysXj0NU2SRoFj5KirWNF-2B86Esek5pFvL8= FNcYwW4xXRx106ZLTZiuGanI-2BbJmnjLCA2nRlf3DW6jhhrZv-2Bm8Mi0PzMZ0JDcP6nVADc67= acX7CBgVUzKf-2FecCuKmtUx5jYlRzxCiDWnjh0tk13JfAD8TUJHNzezbm" style=3D"color:= #1D5080;" test=3D"" universal=3D"true"><b>Here's our rundown </b></a><br><= br> =E2=80=A2 <b>The rebound for European VC fun= ding has been uneven</b> across the continent. We put together a map showin= g how VC investment flowed in 2025 and which markets were hot=E2=80=94or no= t. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXR-2BvwC-2Blz7dHLWW91DBrjHDxIgfOg= 2oTgjjuivYP-2Fvlw-3D-3D3SCo_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYY= U7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0Nl= HpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2= B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a-2BNfI-2BeFcRbsH8qCAKk9UBQX88= 15wJvjXj-2FHgj6piHfkMYdDQUELZdo7QxHyxw2xecj2KwHBnFC35bYgSAWPx3dJiuUuVohKbMq= xNFWhXSVLEObA1xLsUtGtQEXmSgVHGigDwfo5J2uzGOW8tKvtLQ4AkWT0pmANWAT7qB3SUM3sb7= 2mhdDcI25XJYnWP8oxDu-2B1szklAUg8WIw5RslmzXtUlphu4cJtfSK675CB8DL5WntsJHzwWgt= 6RtD1OND1dYjSEOArG-2FBnUKfXBjHbsAl" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true"><b>Explore it here</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 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"> <center> <h2><b>Stay tuned</b></h2> </center></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">Keep a= n eye out for these insights and research reports coming out this week:=20 <ul> <li>Analyst Note: Concentration Taking Divers= ification Out of Venture</li> <li>December 2025 Global Markets Snapshot</li= > <li>2025 Annual Global PE First Look</li> <li>Q4 2025 PitchBook-NVCA Venture Monitor Fi= rst Look</li> <li>Analyst Note: Consolidation in the Trucki= ng Industry</li> <li>2025 US Private Equity Momentum Report</l= i> </ul></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"> <center> <h2><b>Trivia</b></h2> </center></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">Answer= : C<br><br> Video game developer Electronic Arts' $55 bi= llion take-private deal was the largest sovereign wealth fund-backed deal o= f 2025, with Saudi Arabia's Public Investment Fund leading the deal alongsi= de other PE investors. Read more about sovereign wealth funds' involvement = in deals last year <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXR-2BvwC-2Blz7dHL= WW91DBrjHE9rOa174HQ-2BwoRg4iDkgGA-3D-3Dfx08_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U= wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4SzKtEPoW5H3w2ZUBEkh64z= Tr81HFgh8CSC6SYYU7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQiQIiNy7A9sqYbJQNf385SSg-= 2Bn-2BAhThfSZ0NlHpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8eRernDV-2FxoOp3upVgWg= dQbxuYd25Pif8v-2B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2FzTbC-2B40a9KCnWFp5ITb7m= RIF-2BOyMzS9IGOpbxip2IInTwQ4qQwCm8mxEnPRJ494QruySp2hqaFYK92Z2nU3Pb7fTbvINyB= XbLnGUxPBIGg2ZhKN4x5REqlv6R7aPaMuMZbU9rywpZ-2FbD7aleg56vX28rgYuoDhSHENIFmPI= VNAtakPzkiA0JC2Ny1SN2uXNTHak-2BTxjr1WtgE64oDEy5DMksRgwqxBrMYcOx2Wrz7MXL9Rkb= 3XQdMh-2FWjyB3dMNj-2BBkwetJA1cyFDBfhv3GbkpUCZwF6px" style=3D"color: #1D5080= ;" test=3D"" universal=3D"true"><b>here</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 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"> <center> <h2><b>Sign up for our newsletter</b></h2> </center></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">This e= dition of The Weekend Pitch was written by Michael Bodley and Nadine Manske= . 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Sign up at <b><a href=3D"https://url6380.ne= ws.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzXR-2BvwC-2Blz7dHLWW91DBrjHgI8CGl0eqxdhiOXLaJVNNw-3D-3DJJo8_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRg-2F8vDl4oTwLeb4S= zKtEPoW5H3w2ZUBEkh64zTr81HFgh8CSC6SYYU7TkAa204rzWuLqnVaBR7k5Y6quXHgRackQiQI= iNy7A9sqYbJQNf385SSg-2Bn-2BAhThfSZ0NlHpSQijwdNM6EVlLG-2FEjeGf9rFgJO9Kh6kPa8= eRernDV-2FxoOp3upVgWgdQbxuYd25Pif8v-2B4Zvas3JHJUNbuudtdRby32Mw6kWlU2km-2FzT= bC-2B40a9RVnHpe0aphneaLePN5ltL2jLnczcJ7KIIg1KOj4Mbb3VZUQ-2B-2BBsU-2BsNnEUON= XjsKaGh7awCOZDDdSkHXXo3Ksl1bqQTvF4HxYSwFwfSuWqN95JQmNAMptH6gon1wmus-2FMOjfW= AvMR-2FkRb-2BgA0skFDsXJ4ScocukOHfVarf05tvvOxtHttyFtqTkj-2FO-2Fm4l2CeNY2rYin= tOJSgXgfXDeQ4h-2BRTNL7PLqwprptAVyG0nYQ-2F6RggwPlqprfF5eSKiFt2-2B5gfNzA0POpR= cJuUjcfQ" style=3D"color: #1D5080;" test=3D"">pitchbook.com/subscribe</a></= b>.</em></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> <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D= "0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 5px; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-counts-title" cellpadding=3D"0" cell= spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td align=3D"center" style=3D"font-family: Roboto,= Arial, sans-serif; font-weight: 700; font-size: 14px; line-height: 27px;= color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr= ap;">Since yesterday, the PitchBook Platform added:</td> </tr> <tr> <td> <table lang=3D"x-counts-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t= able-layout: fixed;"> <tbody> <tr> <td style=3D"display: inline-block; width: 33.= 3%; min-width: 33.3%; 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;"> 1 </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:= 33.3%; width: 33.3%; text-alig= n: 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;"> 32 </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: 33.= 3%; min-width: 33.3%; 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;"> 23 </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> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-counts-btn" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> <tr> <td align=3D"center" style=3D"padding-bottom: = 13.3px;"><!--[if mso]> <v:roundrect xmlns:v=3D"urn= :schemas-microsoft-com:vml" xmlns:w=3D"urn= :schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria= l" style=3D"heigh= t:43px;v-text-anchor:middle;width:148px;" arcsize=3D"50%= " strokecolor=3D= "#F79B3E" fillcolor=3D"#= F79B3E"> <w:anchorlock/> <center style=3D"color:= #000000; 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