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} body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; 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} @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 400; src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news= letter/Roboto-Regular.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 300; src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle= tter/Roboto-Light.ttf') format('truetype'); } @font-face { font-family: 'Roboto Serif'; font-style: normal; font-weight: 500; src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com= /newsletter/RobotoSerif-Medium.ttf') format('truetype'); } td ul { padding-left: 1.8em; } td li { position: relative; margin-bottom: 0.5em; } </style> <table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing= =3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo= nt-family: Roboto, Arial, sans-serif;"> <tbody> <tr> <td align=3D"center"><!--[if (gte mso 9)|(IE)]> <table lang=3D"x-main-container" width=3D620" cellpadding=3D"0"= cellspacing=3D"0" border=3D"0" align=3D"center"> <tr> <td> <![endif]-->=20 <table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"= > =20 <tbody> <tr> <td class=3D"content" width=3D"100%" style=3D"min-width: 100%; pad= ding-left:5px; padding-right:5px;"> <table lang=3D"x-header" class=3D"container" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> =20 <tbody> <tr> <td> <table lang=3D"x-header-subscription" style=3D"min-width: 100= %; text-align: left;" cellspacing=3D"0" cellpadding=3D"0" align=3D"center" = width=3D"100%"> <tbody> <tr> <td class=3D"header-msg" style=3D"padding-top: 20px; paddi= ng-bottom: 28px; font-family: Roboto, Arial, sans-serif; fon= t-size: 11px; -webkit-text-size-adjust: 70%; text-size-ad= just:70%; -ms-text-size-adjust: 70%; text-align: center;">January 19, 2026 = | <a href=3D"https://url6380.news.pitchbook.co= m/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFoj0sk1R= e4-2FpA56jb0zDivDPxooVmT8PqC6-2B0KpOKXg-3D-3DQeet_I3w5d9c01gkD8gLzFEofZR-2B= h6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0N= Z7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJ= MkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzp= YRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWm8nFZrAVwvQRT= zQVOt-2BiweyEwUE8dgEhue9A8WrbG9jftNDcRoPhmWwVvyk7GoeztWrNK3YFbkv9ZV0n9bcuOl= 7bgdk-2Fp4FeCjWZya5HSNn2CfsuLSgjclhyUtGw0l2kJTU9FfpuSAHpBesbVWlTfjQttgyj81i= miC45xwA9IUrR707w-2F8I7nZ50oTZ924AWmFCrC5dWXfm8rzuzMBU1O1ch9rEvYW54gdhGEsi2= 9SyXXFt9iwHVf6BKc9dgjKoWf-2BCRz6VOvAYoVoEJ-2BuJEt3" target=3D"_blank" style= =3D"text-decoration: underline; 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text-align: center;"><a hre= f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzVFoj0sk1Re4-2FpA56jb0zDiadNamkB23TWFzUQlHz4OQg= -3D-3DxLjH_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8= PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLR= peAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW= 5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVW= ALkjqk98RKkF-2F1LctORnWmY2DHG-2BiEw3az5kaxrABeDgL9hMhPVrsB28tSmvUmQDac-2BGY= O-2Bwdov2WTCWsXBU5RAzNmIFKyw7uQixgGXvfjcRx2TT9alGhpr-2F9iVGb1fzmG5A0xbHPjZA= RWUX1v3wCsCInnSmLwNOu9I5A138gC2B-2FM8kyBeaIU6qkV-2BDc-2BiLQUs9e-2BjsSFCl6TM= evAnS7friCm4m-2BT69-2FOikHTtPeypAUoMSIxevlsxvs-2BDwrTqdsUWdNOl7auNLbD1Go8qt= Nph-2BJ8pMPPQ8BwRnk6Nk1SI" target=3D"_blank"> <img width=3D'1' height=3D'1'= opacity: 0; style=3D'display:none !important; mso-hide: all;' src=3D'https= ://my.pitchbook.com/ms/pixel?userId=3D3DABLZ54MOPJL5Q&eventSource=3D3DZQDXJ= Q6VUBAECQE7XY5D5PSLQI&emailId=3D3DC3LP37CN4XWTW&emailName=3D3D6H3WX3QH7CXEM= MMBQSMFL245ZG625LDUYNYOD6M6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DUAZEV= U3EPI6EYRHRSC2KEHCFHGQ6ZMZBKVWWKQA.gif'/><img src=3D"https://url6380.news.p= itchbook.com/wf/open?upn=3Du001.4Qe7VL981gyAPMxYoCz8CBKmv7adpoGoGfpUfNDzw-2= FIUFPDY6owZNjRg8mspgm8jugqtQeV9Xw9PAlvOWTE7E1r-2FW4kN7RItigE823FTrIG9bZwzEl= YZaUl7yPdjpvqVBAnh7DDWePpM1I-2F3dXEXtxz4-2Fx92HTzn-2FfmjaCSK5n4kFe9dKyru9e9= eIFO2VSIPDAPiEb2A4BWIYe53PVRzlhJraUk8l-2FBERHzMuTq-2BuQdmPJ0rxe2sPbZf3QSnSJ= M6wm3c64mpZiTdE0t1MvNShKBY0PpjA5t4q-2BjahOx5dGwTGHMTzUpo5Ju-2FHF-2Bmo3K4fno= M8cyAUqrkavWbtnzsgQ1tFzLJJqzHaKFUBfEdnH9JpGNdh-2FVqdpbJX0Xih1t5AUnJFkJWUhlE= f2ZHwWWVDlbhuSTHTxGzQ4OjHKCwQm-2BNQXKEunXKVF110aeZEVTlA54KINdDHVoJIS74A4aBj= dlo1X06lI-2FScYI5stc6PQs8oTUmukdc-2F1DnG9NLQo-2BkcUWS7bR0iLaFo-2BoRRIcSPtp-= 2FmdbiE2LfOzGUQLjk3dQjRsCzvRhTfZgeQXHftKS6" alt=3D"" width=3D"1" height=3D"= 1" border=3D"0" style=3D"height:1px !important;width:1px !important;border-= width:0 !important;margin-top:0 !important;margin-bottom:0 !important;margi= n-right:0 !important;margin-left:0 !important;padding-top:0 !important;padd= ing-bottom:0 !important;padding-right:0 !important;padding-left:0 !importan= t;"/><img width=3D"141" height=3D"39" src=3D"https://fonts.pitchbook.com/ne= wsletter/pitchbook_morningstar_logo.png" alt=3D"PitchBook"> </a></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&A</span></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p= rivate capital markets</span></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzVFoj0sk1Re4-2FpA56jb0zDiR5bme-2Bt8SRuw2m7p1z5Ckw-3D-3= Dqaxr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFu= c9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-= 2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dhxr= jhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjq= k98RKkF-2F1LctORnWlTLlkylGGSX514Utpyr3qt4IwAH1cvWpTVFY-2B-2B3tSDJ14p5KNeDJ5= 3QqVcP6Cwsjup9nkkFS5bwqZzCB2ISND2HMGw-2FlkWmHLZqQfWoo8-2BtgLTj6fQNPyOqMRaTa= T8FPng-2BI4ISX-2F66tENh9GdjqhFHCgTV9UxayOnDG3MRlgbcJVOyg6fP2k57H7vTc8MBtaMJ= N5btyIvMnpAnunZUs6hkzeh115ziN8oOG0ZiUD7gDL7nHSnhnWT8tO3TeurUT0A6sLEYhcTlvU4= bQ6qepd8"><img width=3D"460" src=3D"https://img.pitchbook.com/ads/ad4457/SV= BJanleaderboard.jpg" alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border= : 0px; display: block;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Goo= d morning. In today's MLK Day edition of The Daily Pitch</b>, PitchBook's L= ondon news team is taking over to offer up content from our recently relaun= ched newsletter for the EMEA region: <b>The Europe Pitch</b>.<br><br> =F0=9F=8C=8DEuropean PE closed 2025 with rec= ord dealmaking, powered by rising cross-border activity and confidence-boos= ting megadeals in financial services and healthcare. While fundraising cool= ed materially, mid-market resilience and renewed momentum in growth deals h= ave the industry up for a stronger start to 2026. See below for insights fr= om PitchBook's <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic= k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFoj0sk1Re4-2FpA56= jb0zDiNF12fPXYRQRS5dBUQNVDQw-3D-3D_Y2N_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBR= FCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3eP= XNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDR= k8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp= 3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkfXTpNxLowE05ZhIJOqgLvpK= fxTzdGNhviGdUDMNdtW69GyPqEDXtDtdS2-2BVJAcuLgK9l47aqpxpVmu1k6VEbJxxLUVKwpPQ6= -2B-2B-2B0I2IRqfqWi2KcVAd1EtdcUf5nVdbOUame6LZj3QtTCOy08mtHp0hmacMvwAP4-2Fai= R0WUs8I4g3aYFwx2ykYj21ihOUiEJoiiXxs2DZkzh3ljlsmbtPmYb-2FYLM4fnxJ2St2xWWpg-2= B6JH5ruhCvttcnerNlnaVJ9Swhvj7VvDFjsRdH6ADtS" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">2025 Annual European PE Breakdown</a></b>.<br><br> =F0=9F=8C=B7We also include the first in a s= eries of our latest European market snapshots, taking a deep dive into the = <b>Q4 2025 Netherlands Market Snapshot</b>. It was a tough 2025, but improv= ing macro conditions point to a better 2026=E2=80=94provided a pick-up in e= xits can help sustain fundraising momentum.<br><br> =F0=9F=93=ACIf you would like to recieve The= Europe Pitch in your inbox alongside our Daily Pitch and get targeted insi= ght on EMEA private markets ecosystem, <b><a style=3D"color: #1D5080;" test= =3D"">sign up here</a></b>.<br><br><i>Andrew Woodman, Managing Editor, Euro= pean Private Markets</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> <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>Was= this newsletter forwarded to you? <b><a href=3D"https://url6380.news.pitch= book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1= FjxLa1hn2rGgLqrpbSlJcS7-2B8D2jTl5UPpomWfZ7OQ-3D-3DAJ55_I3w5d9c01gkD8gLzFEof= ZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F= 7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQed= FmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2N= CXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkK4rLVTk= kPxOq-2B-2BgsgAhSKaUJRXzBibdqE-2BvO8Bl4cSHzRC849sP4k2BGyKqVW9BH7vEGfEIq3fdQ= 3cpMHXfWptPX4QteGIr4bZnISt7bpK-2BsAMcZkCsOIbxEjwSl5AWv1LejqEcZQNBPWOmOR806Y= Ypp4fEj3IRjmd2EeoPDzfngXkZe9iaEKpwpy-2F0TLfHSlT6FyBKfHbIiyJFJy3-2F-2B-2B7g6= UWTjiVB168CmSqu9MvLwc0JaIMV2dYysCCS-2BmkMQhwSQ3Xk6DvjILx-2Fx6jEWb" style=3D= "color: #1D5080;" test=3D"">Sign up here.</a></b></i></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_576676" id=3D"n_576676" 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;"> Why IPOs may no longer be the = gold standard for European PE exits </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 = Emily Lai, Private Equity Reporter</i><br><br> Public listings are losing their traditional= appeal as PE-backed IPO activity among European companies declines more sh= arply, alongside the increasing popularity of sponsor-to-sponsor sales and = secondaries exits.<br><br> Despite last year=E2=80=99s widely expected = recovery, IPO exit value in 2025 declined 38.4% year on year, from =E2=82= =AC46 billion (around $53 billion) to =E2=82=AC28.3 billion, according to P= itchBook=E2=80=99s <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVFoj0sk1Re4-2F= pA56jb0zDiNF12fPXYRQRS5dBUQNVDQw-3D-3D7lmA_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYp= K3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEY= bwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTc= Znvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWnb5-2Fr7wuJx88BBFzwT= o3X6YHLqh-2BJx1LScSRYv1UDJOB829Sg-2Bxjq3hdluDN-2BehjUKrHhFUkwBiuJKTTZu6p1kO= 3fSGpC-2BptsbJrxpFK-2FjpXn-2BJpON-2B0f2zv04FHCldoX9xtZ0UALIVxy8F3nMCepDTUSq= COVGb4qsSV50eVaqUNwiFSI-2BlmCH4vddmBtDJgWoBQsUjNgic1NQC-2BXMoQwXXJko4daC7HM= rHvsP3Al2B56N4sHr6SZjHqR526S2Y-2FwnDgw0EPfSnxJWiCv4DdFV" style=3D"color: #1= D5080;" test=3D"" universal=3D"true">2025 Annual European PE Breakdown</a><= /b>. Exit count also deteriorated further, dropping from 25 to 16 in 2025.<= /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-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJlvf7AzgXR= vpqEjRhiaVtkA-3D-3DWHle_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wD= WroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF= -2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWA= hZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWki-2FbN3LuLF18ZdUzcilvb7Jtj5w5Yu0PW-2FQ= QQCnxLQmf3tWVgXxd-2BqMIMyupaMVqf7ris63x-2FE4zDdvJjmcdyk5rldA2PH6x72zN6EdObh= g4Yaw2LP0cr6UBWtgcun3AfvHget2LrEey9DWhsXGsc4IkS0xC8RDnnXYHKZqArMNRj1moX4qGs= EjEsKXLA0HhAsG5P2Q3wifEmkxF-2B9VfB2d7eaBsLFvLEmOn-2B76keDooWvEDIvnR-2BiJBgU= JYEsqqgVjfqjiSOU7IcUEot9Z7WZ" universal=3D"true"> <img align=3D"center" alt= =3D"" src=3D"https://img.pitchbook.com/news/72335.png" style=3D"border: non= e; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">While = PE-backed IPO exit activity picked up later in the year, with the five larg= est public market exits occurring in H2 2025, the continued subdued activit= y has left the market wondering whether the weakness is cyclical or structu= ral.<br><br> According to the Breakdown, IPO volumes are = likely to remain structurally lower than in previous cycles, even as they g= radually return over time. As a result, managers might prefer other exit ro= utes over the traditional public listing.<br><br> Sponsor-to-sponsor deals are becoming a more= common exit route as sellers are increasingly willing to exit to other GPs= . Such deals accounted for almost half of all deals and 53.6% of total exit= value.<br><br> Part of the reason is that PE firms tend to = be more willing to pay higher acquisition multiples because they can add va= lue by improving a company=E2=80=99s daily and financial operations.<br><br= > More flexible deal structures, greater certa= inty of execution, and increased access to committed capital also enable PE= firms to move faster and price assets more aggressively than many corporat= e buyers.<br><br> Secondaries are also playing an increasingly= prominent role in PE exits, with GP-led secondaries hitting a record high = in 2025, despite remaining a relatively small market.<br><br> Overall, PE exits in Europe are mixed. While= momentum improved significantly in the second half of 2025, the deals-to-e= xits ratio rose to 2.5x during the year, indicating a growing imbalance bet= ween capital deployed and capital returned, according to the report.</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-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJRv3b-2BV1IiDqbJ4JrTmybFg-3D-3= D5XU9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFu= c9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-= 2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dhxr= jhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjq= k98RKkF-2F1LctORnWkpmj6SmOJbcFVIPoP07U35T8BfPEjetn06Q0caAMCgv8uGXBJZKM0PcZN= da3UrN6ME3ytwP0eb8LvmlhVyF20htkrIcnX3mYIJGXjVvwaYftaV7kxvU0J15SAf6gTX-2BObf= B5pCGuH4LwNcqxyH-2FY1ZRrg4W9Pe-2FoJxlgxfkV78q0pOwlLz3H6fkKWrDgeWIIhwv7KT6QN= GN1M-2BjhL-2BhXJhg9yzdD47VdzPrBka338wdYpZZMEuiqLjsKmku3rv0iBgzAtzkhQf9lPf3d= OTwMyT" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; t= ext-decoration: none; color: black; padding-left: 3px" target=3D"_blank" un= iversal=3D"true">Download our research<img height=3D"24" src=3D"https://fon= ts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middl= e; 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 article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgL= qrpbSlJu0SDnMmkcw-2BirKFAmGDvWg-3D-3DX2BF_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk= xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK= 3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYb= wDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZ= nvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWn4uJ3s0dhEU5e-2BhnRmK= phmW01af9VmcdGV-2BIOOHsBf1NvDSUdG6iUBAIJ-2FBlMfRxUQ8d1UtJn9X8TDdMBSFa1oU2ZG= 9i21W0ueJgUl1qfVoX6HqOuzeyFBq5ilda1chVgHJk1d87xXDNp-2FQQd1ZqspZab5TDPkCb40E= W7pBJn9xUhHwjGKWTLNuVxEiqPr8gRFnEE7vev24auidlWCQRLo3S7VO4wSy0eu6kwYJdI5HF4J= CHvxknhYns0mEyOXznyVZsO8hesr9XMmYYvjovh7" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">Big deals drive record year for European PE in financ= ial services</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 Helsinki Partners</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_576449" id=3D"n_576449" 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;"> Finland=E2=80=99s cutting the = corporate tax rate =E2=80=93 act now to take advantage </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"float: none; padding-left: 15px; "> <tbody> <tr> <td align=3D"right" style=3D"text-align: righ= t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJyGEFfFU7obUzuba= 20-2BWg3A-3D-3Dj4kk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroU= Z7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2Fx= iuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM= 9dK5B6OVWALkjqk98RKkF-2F1LctORnWn1NbODG4Fo7dXwbWUhQ0SrooHkBmC109XWVPfwv1l8p= gitG-2FvZRmCP-2BDNi9C4yy0tFbUTLsWsaYHUSctoX3vwJPvtHqnLECbddw845BLea9vEqmMpi= FdRa9OnXmEnPrmxuvJbfED7m-2Fj50XPcSmuDNG9XxRQfRgbK3EP4QmQlb30cryaT-2FT5Ve9uR= O1xwg16lnbqpX51BMLEO1cJ3kgToTfIrlQVLEnEf1FYKnyEIgdb-2FvD0wrIA49aeuowh7L8OvO= tscdaNdcwV9ARORunAha"> <img align=3D"center" alt=3D"" src=3D"https://img.pi= tchbook.com/news/72204.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>Starting in 2027, Finland=E2=80=99s c= orporate income tax rate will drop to 18% (from 20%), making it one of the = most competitive in the EU.<br><br> Why does this matter for innovative companie= s? The Nordic region=E2=80=99s reputation as a =E2=80=9Chigh-cost=E2=80=9D = area doesn=E2=80=99t hold up to the facts. Instead, the overall cost struct= ure favors companies considering Europe as the next market for their soluti= on or the Nordics as a strategic base.<br><br> Helsinki, in particular, is one of the most = affordable European capitals for R&D-focused sectors. Companies stay in= the city for its research, scalability, and business-savvy community. Read= y to see how Helsinki can support your business setup, help you access R&am= p;D incentives, and European expansion?<br><br><a href=3D"https://url6380.n= ews.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzV1FjxLa1hn2rGgLqrpbSlJyGEFfFU7obUzuba20-2BWg3A-3D-3DhDyF_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z= 465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeN= pRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2X= ZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORn= Wl9JaGqonfd1IJQxl62kmhk33pIa9AYu5GdhVj-2FPWaZY2rtZXZPnQRD8EVY9r-2Fyrly8k7Hu= rPTFgOOzIqWeotCNq53W44fRlfm8uVfQKMYBcWf-2FjJGDs-2FBh7Lza31II3ZRYlbEJDJ5WPiz= P-2BPnjN-2BjSPUavsBKB0qxjQ6ZBmLCmCHD32214Ra6Zsv7ifECG-2F4IwXQKFgm0-2FkijNQ1= zZTWjgURLN7RUjAHq6KLJe8hfePnWyWYrk2mtbVNRtujTl4OBXF4Z-2F0qJhAzCJePQr4SvW" s= tyle=3D"color: #1D5080;" test=3D"">Apply</a> to the 90 Day Finn Program by = 28 February to get started.</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>Continuation funds drove the secondary market to record heights in 2= 025</b> with the dollar value of GP-led deals reaching $106 billion, up fro= m the previous peak of $71 billion in 2024, according to new data from inve= stment bank Evercore. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxLa1hn2rGg= LqrpbSlJi0FfOMFZIeVwIflJxd1Rlg-3D-3DqAIV_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3= ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbw= DRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZn= vp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWm0Z8iCwo-2F2gvsHda1sJq= Ad1XwiGz4KVw7RKbvcgnw655JnNN7F3UoT3URR5y95efiEaoLK-2B4VtMaacG5ORUIj0ZTeDmeH= 3LfEEJSW4pR2az4KdHx2Xd8Qd5ITszWB7aFRwB1XApmbSbdvm5m2bmKm20pTvVXGvQIghbjcGZC= 4LM4T5gvWlukCAP9QC4SNj-2BzWMb2FLB6qVb6oTnGIY6wsl871pxNqjN3btfs-2FWwqLTP5bia= IUezrvpOVPvkB-2FNyqnwpSNSwkyx2sjwQCPFzEFD" style=3D"color: #1D5080;" test= =3D"" universal=3D"true"><b>Read more</b></a><br><br> =E2=80=A2 <b>Europe=E2=80=99s private credit= firms are on a hiring push</b>, with more complex strategies and a diversi= fying investor base driving demand for specialist talent across the asset c= lass. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJ-2FAvwNT= 3xZQSgiNEW2s9qeQ-3D-3DzZJz_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN= 7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimG= dfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2P= EWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWmuwAFOeP8w5MVb4nl8-2BWkcuXLJSL1EGSbq= eMeE-2B6TRVagITsaO-2BSMHdNfmxVkMT4Qah5PWSi6lsCgexteqxN7n-2F0KklpE3f-2BD34Xf= ZBoTdCQHRl5gdgemwtD8YQLJGCFZKXxXjyzPXTDdpfXeusDMNux7JaE3wWUldVv84J8SXoddl-2= BY1fUVDM-2BLykcp0DGZ9XcOSLGjA28VYvHW9hQu9XCSGKO0O4ozHaStfvUi2n47QSRM6Hz-2F7= -2B7RANdTCUBIOL-2BmqryF3wcMjfhlK0a0Z6" style=3D"color: #1D5080;" test=3D"" = universal=3D"true"><b>See which firms are recruiting</b></a></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"><!-- C= LEAR THIS BOX AFTER DUPING --></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_576681" id=3D"n_576681" 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;"> Non-traditional investors gain= ground in Dutch VC market </span></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>By Leah Hodgson, D= eputy Editor, European Private Markets</i> <br><br> As VCs pull back from dealmaking in the Neth= erlands, non-traditional investors are stepping in, participating in a reco= rd share of venture rounds in 2025. <br><br> According to PitchBook=E2=80=99s latest <b><= a test style=3D"color: #1D5080;" href=3D"https://url6380.news.pitchbook.com= /uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxL= a1hn2rGgLqrpbSlJsKAwXrRhxziF710pcC-2Bqyg-3D-3D4Hmy_I3w5d9c01gkD8gLzFEofZR-2= Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0= NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEV= JMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCz= pYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWm4o8bEBEDHT9= 4bpk23PMiEEzDEPp43J1-2B3UfuQDgleDAYi6A1TJMvpqe2yq5IS1Y0thiXU-2FH7fgJcOv0tXm= XVaAxk-2BDBu2TSrsyVH2fHMKKQbqpqb4GjPpQQAq26IVdfxmXKeKvjpaGcM9t1cedI8zdXuTu5= IS0ddf1RZZ8pbwjpmke9wdC-2Bwb-2BhGCfTQTeQg6TAaptGX-2Fz78h1uFPyYzv7erJBsTO4NI= PNgqP9qteSPFgKvYkaICeiFg0JVcza7f3ixYqMCaBkYbXnrpk38Bx" universal=3D"true">N= etherlands Market Snapshot</a></b> report, non-traditional investors, inclu= ding CVCs and PE firms, were involved in 214 Dutch VC deals totaling =E2=82= =AC2.5 billion (about $2.9 billion) last year. This represents a near five-= year high for deal value and the highest share of overall deal count at 44.= 4%.</td> </tr> </tbody> </table> <table lang=3D"x-content-area-bottom" cellpad= ding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table lang=3D"x-image" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td align=3D"center"> <table cellpadding=3D"0" cellspacing=3D"0" bo= rder=3D"0" align=3D"center" style=3D"float: none; "> <tbody> <tr> <td style=3D"text-align: center" align=3D"cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJ3HYaaj6K7= 9wF6oFB9zixiw-3D-3DT-bX_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wD= WroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF= -2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWA= hZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkGoSVVWqet-2F4R40N-2F3zEmY5sh8Y3uDn-2FO= mXh1qgAVqEV0yLtaI9AhEIJJcjcexBOdM2rOlVG0ts3uqYuQGs7aVzkjfrWPePMc21flMZ5lOCM= olWO6B7kmBN16fOYm4ithb-2BKA2MrX7ZjFNUAx3Jd-2B-2BEfR-2Fqw9yQOQaxXSEbN1qjSKIO= CTa8gy-2FZBBkpsUiw3J9tddMLREwV2ut6bxPDkPSnREr63QAmOWKv6eIU4soZ8jYFuHDkmPOcB= gPfJrJKk4u3I2dIDbMpUayquwW-2Fx0u" universal=3D"true"> <img src=3D"https://= img.pitchbook.com/news/72332.png" align=3D"center" alt=3D"" style=3D"border= : none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table 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;">While non-traditional= investors participated in fewer deals than in 2024, the decline in overall= deal count was much steeper, suggesting that VCs are taking a step back. <= br><br> Part of this is down to the significantly ti= ghter fundraising environment for domestic investors, who are key for seed = and early-stage deals. Capital raised for Dutch VC funds fell 70% from 2024= =E2=80=99s annual total of =E2=82=AC2.1 billion to just =E2=82=AC600 millio= n, a much steeper decline than for the broader European market. <br><br> The Netherlands also has strong support from= government-backed institutions. National financing agency Invest-NL, which= has the Ministry of Finance as its sole shareholder, is one of the country= =E2=80=99s most active investors both in startups and funds. Individual reg= ions, such as Limburg, have their own startup programs to promote innovatio= n. <br><br> Corporate venture arms are another key sourc= e of funding for Dutch startups, with companies such as pharmaceutical grou= p Novartis and telecoms provider KPN actively investing through their dedic= ated investment vehicles. <br><br> Most of the Netherlands=E2=80=99 largest rou= nds last year featured non-traditional investors. Online supermarket Picnic= raised =E2=82=AC430 million in November from entities including retailer E= deka and the Gates Foundation. Biotech startup Azafaros=E2=80=98s =E2=82=AC= 132 million Series B featured investment company Pictet and private markets= investor Schroders Capital.</td> </tr> </tbody> </table> <table lang=3D"x-content-area-bottom" cellpad= ding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table lang=3D"x-content-btn" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0"> <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-2BaqM7ONnvsnswouzV1FjxLa1hn2rGgLqrpbSlJ-2BvXB0ECbgX-2FfnLWABIuf0w-3D= -3Dal27_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pzs= Fuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeA= V-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dh= xrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALk= jqk98RKkF-2F1LctORnWlW-2BykhkTqlIHBps-2BqonzGSYXh-2FFHmK-2BM2VhsLq5c57kRmPl= PLwgzuftyTV0U-2BoA69kX5kM73kOLK6Zcw3OQo4StytjNXNpFWATEHm0aNkZbAdaK8KDIY8-2F= Gcvbz7tjfv2fO39UUHEgWa0b9CwZb33TEkI3LTc2-2BzwigUXdwksoIQ58o2HkuTa8NkMDuhf0w= mCGrXKM5JZo1zG2i4rRYmkZjKPd3iyeAq6CJvE2EuWKVoazjiXq09KGoMPn1fi2kj-2B87Pjnzp= 6d-2BvB1RALmB0Go" style=3D"font-family: Roboto, Arial, sans-serif; font-siz= e: 18px; text-decoration: none; color: black; padding-left: 3px" target=3D"= _blank" universal=3D"true"> Download our snapshot<img src=3D"https://fonts.= pitchbook.com/newsletter/arrow-right.png" width=3D"24" height=3D"24" style= =3D"vertical-align: middle; margin-left: 8px;"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWTU7Xicm6VGqMzB= CqR7nxxvJP32kTf225du0GYVe8waA-3D-3D3yeR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxB= RFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3e= PXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwD= Rk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnv= p3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWmi1cLRNiIydWBu9CYD-2BP-= 2FQMfELZAftONTCfeJgEku4Qo48i9U5csDVJVDOtmvTb2Jyw9EyW-2BHStYdJ3UMvPFVYd3YYDk= ltH7n9urodWX2ty18zFCBBiBfdt1vvg-2Fr7pUnockj2lYwhKqX1pBRe4bk3zQVbi35tlcvveXM= P7lgR-2BDakNUG0zxA3y6pCBoN6yxd-2BZpOSA17sVmEG6mAfEPMjjZio1vQc1Pf1XQbyKF0hKB= ydzE0GUP0Ff3oYU7Tr4pxdZ9FAVNNLufYBC-2FjPLVcH" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Hot or not: Where European VC funding grew in 202= 5</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>As world leaders and tech titan= s meet in Davos this week</b>, the IMF sounds the alarm on trade tensions a= nd an AI market correction. [<a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWTU7Xicm6VG= qMzBCqR7nxxBGxuCmOdbM6sgOwt-2F7otSw-3D-3D8jdK_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7yc= qYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLs= JEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgT= hTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWlPqXCEzHxQMfiwXyj= lBWB57mO6eqeupuGWUuRRt-2F-2BKowVDETsYv16fHRSqCJvDHc582mnMcjxRXyOLvKRy3aIa1R= pe6yeLGEH-2FxBWBxIPUbVxWyd2X8EOY371S3b4Vj1RMdj5qaupanS03z1JA0tzMzrLSC0OFg58= -2FzL46QmjT96pqMaZwuoXL7MlXLteUmz7n80-2BUKCi1w5xxFmL8eTKEbVFZ-2B16MTnJrhB9S= qs0YdxqeFSPUiO7gFQx-2FVGBm3waFNcrzht282vfpg1L1n5Wn" style=3D"color: #1D5080= ;" test=3D"">BBC</a>]<br><br> =E2=80=A2 <b>Financial plumbing, bureaucrati= c regulation and risk appetite</b> put Europe's AI ambitions at risk. [<a h= ref=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuyl= w7SpSWIrf6GFa-2BaqM7ONnvsnswouzWTU7Xicm6VGqMzBCqR7nxx3X69PRzNmig03IEUTGuDrA= -3D-3DTSrm_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8= PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLR= peAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW= 5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVW= ALkjqk98RKkF-2F1LctORnWlBBo5-2BAvt1z-2BonhFwXSKT3An30Qt0xmt-2BaUz5QotEkfu54= n08AKgQQshwBU2J31xvhgrQSH6id8wsTPuHwXuVERsjDXIB5F4ScWtrUqAkuPzRfy4vqEs0ESQ3= rQEIqUEUYI-2BS1gS0FWIbVXaq5Yo9LLlxU0Kiy6WCHn5-2Fm3wACinTHwZVlXtgnLcnPNB-2Bn= DlT2c6ls4kT8b3Hb6JrQILQb2YdncX7-2FUuUCwGTLVOMHPWx4qwrshGuFa4V8-2FUKH8pU4s2L= oFiqeyMmnQinZI-2FO9" style=3D"color: #1D5080;" test=3D"">Financial Times</a= >]<br><br> =E2=80=A2 <b>New technology and rising energ= y prices</b> are sparking a resurgence for London's chimney sweeps. [<a hre= f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzWTU7Xicm6VGqMzBCqR7nxxtyQUEmDqlxgrrb6n34bY0Q-3= D-3DyRZQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pz= sFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpe= AV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5D= hxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWAL= kjqk98RKkF-2F1LctORnWnYhVhK8smbHyUNomsBkejscekw6dDLRnH43bvkA3dhoPnW1U6tet43= nlhZ6ma2sNtJYfWnkx1W777RKsX5EKf9zrralEJqzmTAZ-2BKC2MHvpV9TOCQdj2ntMTA9PpUEO= -2B1BqyrsBqZ9t-2FfIIQBTWeAK50QuvBpHrLgbAm-2FYdCF-2Fn0c-2F5F-2B6vdOjhIEgDBP8= RERzjSuMqWPbLxdmsL2zWfBCITUgArM-2FrBQphWG1t-2FVzrBygL3KYSqdlSRQDvev9bDHxJq2= qeyLJ-2FL1K-2Bt7Hkg7b" style=3D"color: #1D5080;" test=3D"">The New York Tim= es</a>]</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; 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width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 181 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Companies </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 4 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Funds </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-counts-btn" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> <tr> <td align=3D"center" style=3D"padding-bottom: = 13.3px;"><!--[if mso]> <v:roundrect xmlns:v=3D"urn= :schemas-microsoft-com:vml" xmlns:w=3D"urn= :schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria= l" style=3D"heigh= t:43px;v-text-anchor:middle;width:148px;" arcsize=3D"50%= " strokecolor=3D= "#F79B3E" fillcolor=3D"#= F79B3E"> <w:anchorlock/> <center style=3D"color:= #000000; font-fami= ly:Roboto, Arial, sans-serif; font-size= :12px;"> Request a free tria= l </center> </v:roundrect> <![endif]--> <a href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzWTU7Xicm6VGqMzBCqR7nxxlNcZ-2FFmvGqBBeyKdR92-2B3w-3D-3= Dy81d_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFu= c9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-= 2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dhxr= jhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjq= k98RKkF-2F1LctORnWmCa-2FzW-2FjeX6yxmBpJaAcMfNSt3OJNDMXyRpw4qOmlg18jC1yKj4-2= BGhKZ3ciKGjF9ksYWq-2FF2SAyQZQm9EdkJbYAXRi-2FHwc8zV9usXp13k3hTI7Gpa8-2BuOlnT= SEPRXBayGpE58c8vKJuFjsZJ8-2BDLKWU1OF15ckxCcybKqNRpFNHElXfwmgUY7FVCkuXL70rgT= bvUfUZklaHdaGOJezHGapBeDxl1YBQfeGvuBDIxagYRXuwNWIvrh2f95CvtUm8jITVnAfcCjjb4= vfNXzGHWqB" target=3D"_blank" style=3D"display: block; font-family: Robo= to, Arial, sans-serif; font-size: 12px; color: #000000; text-decoration: = none; line-height: 24px= ; text-align: cente= r; padding: 9.5px 21= .5px; border-radius: 99= 9px; background-color:= #F79B3E; width: 150px;"> R= equest a free trial </a> </td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td height=3D"20" style=3D"line-height: 20px;"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_576653" id=3D"n_576653" 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: 2016 Vint= age Global Funds-of-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: 84.49656750572082%; mi= n-width: 84.49656750572082%; max-width: 84.49656750572082%; background-colo= r: #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">14.77%</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">17.48%</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;"> 0.69x </div> <div style=3D"font-family: Roboto, Arial, san= s-serif; color: #000000; font-size: 16px; padding: 0 0 30px 0; float: none;= "> Median DPI </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-performers" style=3D"min-width: 100%;" width=3D"100%"> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-title" lang=3D"x-performer-title" style=3D"co= lor: #000000; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 0 10px 0 = 5px; line-height: 24px; font-size: 14px; font-weight: 700; font-family: Roboto, Arial, sans-serif;" width=3D"80%">Select top performe= rs</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzWTU7Xicm6VGqMzBCqR7nxx9-2BfXXfLMrYIOPPYvGjkQow-3D-3DttxX_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z46= 5XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpR= YcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZV= QCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWm= hI-2FDaGXV1d8kU112e-2BYRuRmd8l-2BTSKE-2BLE1gvboOaaMman71Geq4kg64Dd11AIv0IMS= RQqoKFtB0FYY473yFuX4yiiieub8MqG4IC-2Fqzh1P4DwYPKVMxR-2B-2FA38s-2FrgOnDGSsNC= 64wT4X3KmaJXPCiDFrwn4rsSmeLF-2BOHCOeFEgkuiMEKyQi001i-2FqGeyaEGxMffqe0a-2B6n= o4SLFhDLu3EpSb4-2FSDHU2qaaX2M1y8g5g-2BRwWknT53YZP3z2AazUAGw3sjRWpoXqKjP-2FK= n3iJO" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" univer= sal=3D"true">Spectra Investments III </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzWTU7Xicm6VGqMzBCqR7nxxTO5MFIRGgKRJPij6ci12wA-3D-3DW7jP_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465X= hJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYc= wdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQC= YuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWmBd= 4SI0rK1bd9DfSzunuLB3mbKpMFypta712lRI2uqykS2AcWUcN36Hs1y3dr5ykufulaLj7XGaJcN= GNRl-2FFi-2FlmRlcAcF-2FLzkalVd1Vf7QcSQUkLDnRS1-2B2APLe7eanr5JgtJBo-2FqOMIIQ= uCZN5sXMeGvnQXLoTIWVNmPNgNlbrxRXo5QBZNLQIY3n4X4oAfPSgklKotV50vHgLo-2FTEvs6a= yqKKYwpNL2-2BHvroexCdchqYW1ULpxsA39EkmsY-2BkuJn6m1AiXcf1NtvQA8tJsS" style= =3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true"= >Adams Street Venture Innovation 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= swouzWTU7Xicm6VGqMzBCqR7nxxjRswyF1mSSMJObBntVC1zQ-3D-3D5fH__I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465X= hJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYc= wdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQC= YuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWnEy= adaRola85csASWNmCnONxb2joQldEXDgqHQMrzfvHLgU99-2FTkxFpA86K2BoE80-2FQ8IQK3JE= NmmzEBbexKsTZZFaz3BBaVvBeYjL2Hn5-2BU-2BzfLur17eBT4nvZGB7Uho2RYBqY33NoiYa8U1= XMh154UuJ5LWPSE6YYEFEm7oN9u4tSTKw2w2i-2Bn9U1JrvrsnP41rKk7GTQYylx30lpJL-2Fs1= mDret4W1JCRwGNCctrQ-2BnRpOdr1-2BlQFCdfVbUWz1ea-2BrNJk3WH9qcYP0JlEI-2Bt" sty= le=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"tru= e">Private Advisors Small Co Private Equity Fund VII </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-2BaqM7ONnvsnswouzWTU7Xicm6VGqMzBCqR7nxxO0fSPH= e1aimXmPshWJHFvQ-3D-3DvkKC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN= 7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimG= dfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2P= EWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWlU7W7qDyDm-2FvLpZI2dpHTkNj-2F521WMED= U9aCW-2F8SxuiCaXZRNbxbAXPfgyZ8167YHLhvJOg8TLTd5qHkLoGZTpdGM27Jq79NDxD36kiVZ= TGFLUCJmPIpjCc0ruHp-2BaDXKdily6QA0zas1ZRZHLl7Ju4a2s-2FowYe9n3vn-2BOeopKBhfU= hcNQMigy12uFSm5KYG-2BuB-2FEBAoUjLn-2FsibA8ZfOiB3ZX-2FnspdGAF-2F-2FCII81G7-2= FAP7WXsFOmtWNMGHFd2Yaj1gkeJnz9qvZZyOo-2Fr3t18" style=3D"font-family: Roboto= , Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; lin= e-height: 24px;" universal=3D"true">45 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-2BaqM7ONnvsnswouzXJtgs3u= QeCdRreyYZU1QhemsBzNfPAOuD4HKf81DDKOA-3D-3DBuNc_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7= ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMk= LsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYR= gThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWk-2F9aJSo7vfWeF= h25a03L4zJgFW-2BrR-2BnQM68lEbwkAxfaeNZXKjkdv9jUk0qoVUfIZiMXkO-2FSQrfr6BaeJ6= kKxWoc6iWQMZ5iO-2BCs8IXB7znql7DXryHssHSAfzMrSTfnDhiRhD5MX1uQAs4qlETWDadc-2F= z0bSHUX8grM3sv8GYDFZP640N2Rci64bFqZcVVXli-2Bfh-2F0rMGAuPitRrTcsS8kXU-2FwOL1= 02hjoFWpv0ipxac34hMm-2Fz7LPHKOpWgG6n-2BB6ceEwxVgkUplz2xmAmc6" style=3D"colo= r: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzXJtgs3uQeCdRreyYZU1QheOlbgbYvMCqcXPDMGVT-2F-2FgA-3D-3= D-E8Y_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFu= c9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-= 2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dhxr= jhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjq= k98RKkF-2F1LctORnWl-2Bz9h72EdX73qOVacJ9eu3gCcq6TTX1QPaYv9V1mjVEVd6bFBmphQyt= 0G-2BpXrJlasnD6ZPq47GuAWaBE3RsIYcFyu81sTcmNcgehyQj8P7PTvdXcLCfKumpZGJKYotVq= JS-2Fb52mR7lRSDRh9H5KfPBEsmdU-2B26bCIB-2BKXH-2FFhDh2aUno3l3Ja0j9KNA1jRJsHNS= gaqh-2FdP4Vo6-2BUpaPfkN6MoS4ZraAugTE6m9sgrKC3yovX18MYeE-2BCmmI6fiis9c25O1s8= MggvRFOwu-2FGTxs"><img width=3D"460" src=3D"https://img.pitchbook.com/ads/a= d4463/ChurchillHBA.png" alt=3D"Ads" style=3D"padding: 0px; margin: 0px; bor= der: 0px; display: block;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>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">Ukrain= e-based microdrama startup <b><a href=3D"https://url6380.news.pitchbook.com= /uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3= uQeCdRreyYZU1QherKtKVtk-2F5deOuaf3KNRsGA-3D-3DZDsB_I3w5d9c01gkD8gLzFEofZR-2= Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0= NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEV= JMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCz= pYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWmA6B-2F0D4PD= B6EUTqDHT19Q3igg2BVnzc7oaNpdfpsuUH3QTJeJajMI6AJGuRzm1VUeW3BBXrD8SpzaXMeiAec= -2FW2RRBtVuoEbLm0NSMv-2Bg1GQ37CTS9BSwiE9m858YKAyY2CI-2FX7qr4BGsvq-2FXA3kVSF= KR4fc-2BwCmn-2BVY2lViZjqjX4zY1WvBsVs6rvDte469aSFGimkoA3FajAj6dFRxvlGwiTIxJ-= 2BxR71js1am7Zzefmlrqa7foEsm2uxAk9WJkBSbCHqo7UxTp6D4A-2B70f1" style=3D"color= : #1D5080;" test=3D"" universal=3D"true">Holywater</a></b> raised $22 milli= on in a round led by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3uQeCdRrey= YZU1QheNFQ1pz3grffQ-2F4eNidtcRw-3D-3DiPbK_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk= xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK= 3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYb= wDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZ= nvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkd7Bcm5IeGEPC2PlXL4zl= rLm7cjPIbWkUR22fhmoOaoYgV2ic02Or-2BF9MVWzwXroLyLPRWhcCLie6QY3EgKaFRBGlHdE3U= zIVgENDMfQSuPDA5co9mHkEm6-2FV-2B1HLZp-2FQE-2BRzM6OZYNiaqcWyJZk9FBPiP-2FG1U3= YHmjJqnFHoTfNOREcIe6ww0gr1W7fA-2B5Grwn1pQ9H5-2FVMGXeCi3ODIDyyimVR8VNtVCR9Mx= zd4Bxca8M8-2BSJQL7Q-2FzH0mxxedjM3c0YL-2B8vf4L6OJyAiNTr" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Horizon 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" 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_576543" id=3D"n_576543" 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;"> Don't miss our upcoming webina= r </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/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3uQeCdRreyYZU1QhexBdyUhJvEC7EA= Rdgt97sOg-3D-3DwSLx_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroU= Z7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2Fx= iuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM= 9dK5B6OVWALkjqk98RKkF-2F1LctORnWlcK5RgTGXL5g1GkXjwruUR-2BDl5NMT8r2rD7eShCbA= 9bkpBctoduSUgD0-2FkbyrbgE-2FNHiQnTNqbpD1e14kacWYPz2aZYXWc9T8hc8cOYKoozeJ76p= FOdBXoBSVzSvk3oYo4qkJUXyZqbjzgoXM6ANB-2FOBQs3bKb4paSSLdwPpJJVpxgnHkgBjYthIT= R2FkvHTtB8YzrP5laX39snULt7CtpxxTs7rf291SyvAFFddPSTl2Q5XidRF-2BVSchpmMboOQDH= sVxr5N3Jh8wJr1GiY3D7"> <img align=3D"middle" alt=3D"" src=3D"https://img.pi= tchbook.com/news/72244.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> <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 J.= P. Morgan Healthcare Conference sets the tone for investments in the year a= head, offering a first look at the industry=E2=80=99s most impactful techno= logies, deals, M&A, and partnerships. Join our healthcare analysts for = a recap of the conference=E2=80=99s key takeaways, with perspectives on ind= ustry announcements, AI-driven innovations, and what to expect in 2026.<br>= <br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3uQeCdRreyYZU1QhexBdyUhJvEC7EAR= dgt97sOg-3D-3D7cIB_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe= UgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ= 7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2Fxi= uxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9= dK5B6OVWALkjqk98RKkF-2F1LctORnWkc2eo7imS8UPwk-2FAaxZbXegBbpLS57CNizPdMfyOVh= rotrNKsifF1w-2FgCUNlRuiULxAt3nqfQlWfb7kDIiEa9KGrrC4-2BAPEMmbUeoZqpdQn341ooy= 29DZp-2BlPnUtncL0wA4HmY70xaycql6L-2BFEgg34De6uYXafbE7VdCqhzwnyOorpBLgjGcwVW= VVh8JXZgR5KyKqe6p9q9Fo3AO5O18GeBjfIFzoO-2FFc8DhKdFz2zBB6Zfoxd39Je9IA4fEKVQ8= BG5U57j1H9AVz-2F68QHq1V" style=3D"color: #1D5080;" test=3D""><b>Register no= w to secure your spot.</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-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= 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NKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W= 0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZ= V0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWlp7ITRNO42RWApvYWq5NodreeMZ= -2Bo5CimuJn2JniJE1SoQ2R7SgOo0Zr3A9sKBKK-2FJrCORvAVvxXQxnwN7LxkbXzcTl1AUml0U= jBkzPdrGojL4ovm9PRgolnvY4QgRAJSLa-2Bul1Tg77yl2Nw6UtgRokIItJUfNoVb6ptUAi-2FK= X8NAx5hqN4ydKEtPSe-2Fp-2BLUhc50w5hM4Kui06Z80-2BBS6TtWRzda5Rnb3361Cv1GbuObQ1= EgFuklmW1UMgu95RNHZ7gfnOLBKcL7VmliCAyRz4" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">Salto Systems</a></b> that could value the Spanish el= ectronic locks manufacturer at more than =E2=82=AC1 billion, Bloomberg repo= rted.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3uQeCdRreyYZU1QheK= jik1Aj0ymjtnjIfwajaOQ-3D-3DVez7_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-= 2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVg= websN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879= xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kC= Tzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWlk0SiiqVD7V-2F5o2jBw6mW6tDdQ0Yk= WJyA5R3V-2BMfhCWXr2TnXnSr9mRBedzc1q6ZqqZoXtYmTFrOZ-2FF66o9aWUBFf3-2FCqdb-2F= TisdtTRwcAkLeds5e0DUIk4CR-2FuJ-2B4xIwFUK2o7szC6KheoCVxS3arYOHi-2FCYpCB83kXD= wR9V-2FY-2BXyYYOZ-2F6pJ3TGEBrwylh6lA5R6n2PttXI4pU3b-2FHTTP-2FGTVTmpnc6FAsX7= w2Re9RVtc5QAehDZnwH-2Box7lXOvuPQ1ug6-2F1qVDtpW8y5q5X" style=3D"color: #1D50= 80;" test=3D"" universal=3D"true">Bregal Unternehmerkapital</a> agreed to a= cquire a majority stake in <a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXJtgs3uQe= CdRreyYZU1QheLcRvVPBgGYHWctL79T8fgA-3D-3DZE2R_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7yc= qYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLs= 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cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOoZ8bHqRnnCEM5i58AARBo= 5Q-3D-3DLUA1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0= m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUn= LRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1= SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6O= VWALkjqk98RKkF-2F1LctORnWmHAlZSMGUwf28WQx-2F9qzoWUd2v2vYOt3Sb21MHMTxrhoMuZb= wffceIGtvyysK9Mn-2FaddOrfSlfkCrzDRw4TihlKxYS2dS3aEKWpY2tfS3aPLwR6U8DI4GhyIV= pFmbYA-2FuaXDl-2F62In0OyXlO4OZcHyeXzmxH9L-2Bj-2FHeWRv0hfeRaSiQCf5KeN0Xyw0Ft= XC-2BUkW-2B17XfGFI-2FMLhWGATlgUEsCUQwXoaPHmHB6355dh5AvGaZDTzsk3jcLdYpDLnTeR= zwp62HNwwQoK2sRAJnoIK" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">General Atlantic</a>-backed <b><a href=3D"https://url6380.news.pitchbook= .com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVp= 2hknNWB5VrZmaiLAVhOoAjf9nOvxheXGSG-2BjNbG6-2BA-3D-3DaZR6_I3w5d9c01gkD8gLzFE= ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-= 2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQ= edFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA= 2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkG-2FW= y6WDfqZVklpOXf-2BzUtszZ3eqqXIpaCQE-2FrtuGFGMOeKplOaOj0okeA-2Fcjkt6gnPY5Iy61= oVSCTE37AcerRBmXr6CA-2FbVFn7JP-2F4j-2F-2BzxozfANYINZ6y8gGou-2FFmiGjvprDur5y= L7Wdh523Awuiq2-2F2LHxw9Yc28E7mV64aVkbAyDlSqExSyvCfQjPb9vOWefNt0RR5yDpbu8zxo= 6RkOOpykJIAaoBmxsE-2FU-2FyBM0KTEfY1Y5tVZXWe2x8FxTK3SCmSRpnBPXKCAdfuHrzV" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">ASG Hospital</a></b>, = an Indian eye hospital chain, has hired banks for an IPO in H2, Bloomberg r= eported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOoX1Qee1hSJEbn2T4e-2FD= aTaA-3D-3DYrF0_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFV= a0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGK= UnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1= q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B= 6OVWALkjqk98RKkF-2F1LctORnWkUI0SdXE0uwRWbKKM8fehxyxOzCnER5ewacFpQUSSlUcBlSD= v6teb59hY8lRD3PJujGS6W71vJbyzicGzkKIQWih9ndZOmwhZfKPIzdZo7WcCNQaiwdwryZ7zzw= c7Oo55-2BNeukdcNp4ioBzazmvGhyGgC8A7EoQQLqtDC20LxGUyEJ7iQf86jqUzIx-2BpV7Ebdu= 4MDZpY-2FMa6hLVsIXAB-2BHxce0E3-2BhvkpTtR7bdMpF38j5quqUI-2BDfLmqFn3bdauByiPD= AnmL2bxjIw256Im-2FR" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= ><b>HIG</b></a> held a =E2=82=AC1.6 billion final close for its latest Euro= pean lower mid-market PE fund.<br><br> Dutch VC firm <b><a href=3D"https://url6380.= news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM= 7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOox6zN0UU5a8NCFc-2FCQjPIGg-3D-3DUx-O_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQi= hqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB= -2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uUD= frJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1L= ctORnWl2FRZ9LNquMXSi07YmwBC2gpDAb6S181EGbFOSknw2Ful3bAfnXNHaeW66FxqxyccVhPp= yFnV2tJT0M5uUH8k83Nnx7HG6WGwiPZcLtLzgPcA6qjIF6YkuhZy4YoQj0xI3MT-2BcTUzb0K-2= B954zwS7VfdRAHeTxZWXSSww6ae2LmaPQO-2Fw5QbNn-2B2x4dxflfnVrDY-2BgS6JfZb5QH1vK= ktkf5sC4X41L7MMO-2Fett-2BOslrYZiFBQyF6BFuPwscLQg7brmayL5sDMCfp70-2FK-2FGvk-= 2BE4" style=3D"color: #1D5080;" test=3D"" universal=3D"true">PureTerra Vent= ures</a></b> launched its second water tech fund with a =E2=82=AC150 millio= n target.</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>Investors</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-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOoDVC6t4sB28RFiiqk0= W3T2g-3D-3Dtobb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mG= KUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH= 1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5= B6OVWALkjqk98RKkF-2F1LctORnWlCkIblJflondJw0mVRA043fbFo7h0kC7jdiyo2dtAtQ-2BV= 5a-2B8Z07ppLo3zmeE4Jb3AaazYVUrITnqaVOE3-2BXYtpqHFvJ6guBgxbO9sLCDN0TkOwrQ2EX= i-2BPgL-2FoRW7f4KVoHJ3MePJYy9LhZ7bweCuq-2FifXYj4EvPOoH5B6OB1foZs-2BPKjYog2k= LL913N1rFZURJriuXfK4pYe-2BmcjPqRBAv0nzpsIPeNz3jd8MADlLP27AWS-2FExgU-2Bt77DN= K-2BzqlSFDFbYxeNa8xLYm27otnp" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">CVC Capital Partners</a></b> struck a partnership with US insurer= <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOogka-2BzXJ6= PjDt42e3ZHYfOA-3D-3Dgyxl_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ= bcbdWeUgFVa0m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7w= DWroUZ7mGKUnLRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdf= F-2FxiuxH1q1SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEW= AhZKM9dK5B6OVWALkjqk98RKkF-2F1LctORnWkZuSSFDZUy3c6Iqe-2FiwzQr-2BzJNn4EoBIKD= YENGTdrbyDk9cIj93X9HUFcQcMBrcereX5xNabLWYdGQexP9UMMWhf37dvTCt6SuBFCv-2BXIFN= 7gpTM3D4XO8ZlyD7a4u-2B8YfOHm2Gx7SCf4mkLl9e8HdiNqhLtocrP6vXcu9kUAbVccLyY96-2= Bkjfblb98orThrCeUG651lUbMbcddea9m9e01HSAw094iTyOUwS5m8HpXWzjs20O-2FtFzpJhAJ= 0wVdj4xOzZqiKKlTMXEe5FeNNw4" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">AIG</a></b> worth up to $3.5 billion. AIG is set to allocate up t= o $2 billion into CVC-managed funds and accounts, and up to $1.5 billion in= to a new CVC evergreen vehicle focused on PE secondaries.</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>Corporate M&A</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-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOo3WcDsylmbnrP1LiGysUI= 6A-3D-3Dmlk3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0= m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUn= LRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1= SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6O= VWALkjqk98RKkF-2F1LctORnWm15PBUUXkATkaiYeV7d5LhLwv01EoFoA1aAuMU-2Fko0v4pMfv= vySS-2F5D-2FIxeJtJz0atAXLkZEj1S4F1uKmelWKHz7afvhKy7ZJph8Em3lMbzqRo1Me-2Bnvm= 86yYO-2FHTHulYmv-2FjsR3Ac3z4pCa-2Ff9eVMY5YuCJ7JvmWoj1bMclcegnc9WtALKcQ0UKuu= DwffOzc7O4yYGSz4Nsw-2B1xx0xUakP0lAH9u0-2BhnDnMPFqK5OigO6dgVcpY2zgsxPmQ8qr-2= FBSmfUcSLLoV8jzi8uf1hbE" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Boston Scientific</a> agreed to buy medical device maker <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOoDbB3mHpG5k-2F-2Bd1hizZYv= 0A-3D-3DI16U_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0= m8PzsFuc9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUn= LRpeAV-2F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1= SW5DhxrjhrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6O= VWALkjqk98RKkF-2F1LctORnWk-2BFR3ymxATxcEGxFdE-2BZdUrHvRWos4hJNaGi0darm94uob= 7ufaqUIcRjRgu6rjtUFkFXQbq5Oqz-2FaqqnIgyX3e-2BD4KKXoN7VGat2y98WiSoGD6ZwgxsjG= iCpIkdNHwDAr8VDv9bk6l23rpNC-2BxpvYGGdTI6kKlx8y-2B0lShf1-2FRLdG4tVttVvZgz5C6= iMDUB6-2FGcsv1DqlM6hAPhJ1ufwi-2Fzymx3ZgKiweqRbutcv-2Bzyh4cEXcfxXZa-2F0NgYb4= gogzwF9HQzH34-2B0xCSWq-2FuzfX" style=3D"color: #1D5080;" test=3D"" universa= l=3D"true">Penumbra</a></b> in a deal valued at more than $14 billion, Bloo= mberg reported.<br><br> Shale explorer <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOotaNG9q4z-2BFQv5LiUDlAaXQ-3D-3DJJfn_I3w5d= 9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc9T4gvYZXkQ= ihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2F9uI5EjRsO= B-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5DhxrjhrSgjEm0uU= DfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk98RKkF-2F1= LctORnWnDKvdd4-2F6RfKPYBYc-2BHE992G1oNSA4pnldkPU0-2Bm0FsqihwBKDWFgmi-2FN2ya= 5SYhe4DInI9aZp3Ml10KxgOmq-2BA-2BokBDjWF65a7ypP5ZYoI8-2B8K99NnJAKSQ-2Bz65CA3= K9pUX-2BiWzRkLELV5BKLx10cmMUWqx-2B-2FG5pzpcLaO2OFzEsleuUmdZvisqNlO-2Fpi1SZy= EHfaivB0Is5LzTAqBXyRxzmjgSOHNbeg6DPqVMA88TMmh1fgfw1NDtiKtzSCawfmD1I3mNg9dbm= ABEjBxHO-2B" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Coterra= Energy</a></b> is considering a combination with rival <b><a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzVp2hknNWB5VrZmaiLAVhOoUkjVDcrQXmgUG-2B83r13HNw-3D-3D= PqGv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFuc= 9T4gvYZXkQihqx5Z465XhJ-2F7AF0NZ7ycqYpK3ePXNmNKVgwebsN7wDWroUZ7mGKUnLRpeAV-2= F9uI5EjRsOB-2FeNpRYcwdQedFmEVJMkLsJEYbwDRk8W0879xaimGdfF-2FxiuxH1q1SW5Dhxrj= hrSgjEm0uUDfrJ2XZVQCYuA2NCXCzpYRgThTcZnvp3jZV0kCTzz2PEWAhZKM9dK5B6OVWALkjqk= 98RKkF-2F1LctORnWl6GazwlB7IPqKZukbInE2yvZ1l50Flv9kSfVeiMG92cdr1Xq5Lihe4lCnz= wcOLtNTyLNRGDiRGYLeMJN40ASXAHy7djrgHvSrEA0GWfjiyHBemKjy8fM71Cg-2FCOiFsaS-2B= WhOi2rfcFhw6ufmYddLHvI5lnG53hXP8hQ6wRjvOlU6rC6aMyjBJa-2BIdzJ37rHzXi2r83sEt0= gwqFWIFlS03lLBhpVKc-2B9oTBt8y8UeUMfudSjvoAYkMXHwJ5A49UxeGUFreLvfOfX3ZX-2FAY= sE-2BQe" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Devon Energ= y</a></b>, Bloomberg reported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Chart of the Day</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; 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