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The original message has been attached to this so you can view it or label similar future email. If you have any questions, see root\@localhost for details. Content preview: PitchBook Newsletters Our latest Barometers; ranking the most active VCs; are evergreen funds delivering? February 16, 2026 | Read online | Manage your subscription The Daily Pitch PE, VC and M&A Your edge on global priva [...] Content analysis details: (-2.0 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 0.0 RCVD_IN_VALIDITY_RPBL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. See https://knowledge.validity.com/hc/en-us/articles/20961730681243 for more information. [159.183.175.69 listed in bl.score.senderscore.com] 0.0 RCVD_IN_DNSWL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to DNSWL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#DnsBlocklists-dnsbl-block for more information. 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[159.183.175.69 listed in sa-trusted.bondedsender.org] -0.0 SPF_PASS SPF: sender matches SPF record -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid 0.0 HTML_MESSAGE BODY: HTML included in message 0.1 MIME_HTML_ONLY BODY: Message only has text/html MIME parts 0.5 KAM_REALLYHUGEIMGSRC RAW: Spam with image tags with ridiculously huge http urls 0.0 LOTS_OF_MONEY Huge... sums of money X-Spam-Flag: NO <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www= .w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns=3D"http://www.w3.org/1999/xhtml" xmlns:v=3D"urn:schemas-microso= ft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office"> <head> <meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dutf-8"> <meta http-equiv=3D"X-UA-Compatible" content=3D"IE=3Dedge"> <meta name=3D"viewport" content=3D"width=3Ddevice-width, initial-scale=3D= 1.0"> <meta name=3D"x-apple-disable-message-reformatting"><!--[if gte mso 9]><x= ml> <o:OfficeDocumentSettings> <o:AllowPNG/> <o:PixelsPerInch>96</o:PixelsPerInch> </o:OfficeDocumentSettings> </xml><![endif]--> <title>PitchBook Newsletters</title><!--[if (gte mso 9)|(IE)]> <style type=3D"text/css"> table { border-collapse: collapse; } body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; 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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;">February 16, 2026= | <a href=3D"https://url6380.news.pitchbook.c= om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWq2UdtQQ= ZEd7luECAEQhhK7-2BhJabNmbOk9P3PBZfEjKw-3D-3D4rPn_I3w5d9c01gkD8gLzFEofZR-2Bh= 6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2= BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-= 2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0= RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOYGco9CmKjdhtdgRR1ZB5U3e1Stm0E= nU1Wa-2Bv7UEEwwtrwmpxCxICTLvUmRW0IJMjPedK1HMDuKUuojAFC6u-2B1GqubpAIg0lpZDaG= 9tJMRMCkM2Ckw2H-2FNxO-2F-2FFaganoJm8zJZF35V2fTyl3DlctC-2BBaIIbQ15YU1Mw5SOIu= RvfEH9OfnwFyhoOWu1xpSb2YUlB-2F5rjLy3fa4je-2BpYcLEm85NtT55Ae-2F795QheoNjVki2= -2BgcOdjR1mRbTyUnkPXHc0yzX2UHfhxcYjBZ4h1iCFM-3D" target=3D"_blank" style=3D= "text-decoration: underline; 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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-2BaqM7ONnvsnswouzWq2UdtQQZEd7luECAEQhhKrv-2FMuEQgxJ2a4ZSkC7m5iQ-3D-3Ds= BXg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2F= bjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsC= zopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPz= FI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7Io= OfwCABe3gxobXpRS7so7i9EH6N5tFJjqrC1v0KKEQSOHyQ8K9x8GTK7x2ENv2IqbSgVO0M3FkS9= dInpM4-2B2jIVWS-2BwfIDkf-2Fm-2FU-2BwqYKstttDOifuriiMRZnQ2k3KhPPe7ps5oPJF768= -2FpUSiKa4hy3Z3oPpsLn-2FuWXXUsGVwJW8SLK1veCEdyoRAYonWcax8BJZhcGZhtFpmn-2Bpj= MQu5auR44q5996XMwuAcHOLbxIGYgO3JxJgR-2Fg-2B-2FnDC-2FQKZJrO6nohr6SuUK1u8HJu6= owU-3D"><img width=3D"460" src=3D"https://img.pitchbook.com/ads/ad4480/SVBl= eaderboard.jpg" alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px= ; display: block; width: 100%; height: auto;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Lat= est forecast for returns:</b> Our Private Capital Return Barometers close t= he gap in traditional private fund performance reporting with near-real-tim= e, data-driven estimates of performance across PE, VC, private debt, infras= tructure and natural resources.<br><br> The current readings remain firmly within th= e neutral zone, reflecting expectations for near-average returns in late 20= 25. <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWq2UdtQQZEd7luECAEQhhKU34rptR= nvmK-2BgcN6-2F2epeQ-3D-3DAChk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4= CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsyc= UEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFB= bBgP1TH0m6TgE-2BuwNHcjW7IoOf1IQ3qSnmVSFdX0mxJ6sMWFT-2B3b1c5PwTYa7BcUdptNoJO= gtAo8UQlzv41l-2BbfOvvidqE2AFYBUpSEP4yIvhNAHlD5sn9zwvWgfZqOPCalcSXPyPXYswoc-= 2FFt69T9L6BWfttDhgewDCWWq0WzLKVr2mcPW6uvCtiGTUoDLDJq2PFyDTvptAJkH3dRWZFUiiL= eh4n-2FuVcBVT3GlqnEGm-2BnSWMxtfXxFf1dZPZmBR3dZqmyYKRIj76G2r55bupAQRC919hPfv= h56pusmOYPcQ9b0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Download the report</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <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_577608" id=3D"n_577608" 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;"> Inside biopharma's VC reset=E2= =80=94fewer deals, more conviction </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 = Ben Zercher, Senior Research Analyst, Biotech and Pharma</i><br><br> Although the long-awaited biopharma VC boom = never fully arrived in 2025, the sector still closed the year with another = step forward.<br><br> The biopharma market continued its gradual r= ecovery, as both VC dealmaking and funding rose for the second straight yea= r. Momentum strengthened in the second half of the year, with two of the st= rongest quarters since the post-2021 contraction, according to our <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWq2UdtQQZEd7luECAEQhhK-2BEuWEIqeT1rDQ-2BZKo= MCyXA-3D-3DhgvN_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3= hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2= FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-= 2BuwNHcjW7IoOcWeIVQDi77RbK5F24sOY1mEguOcrlwPKrG59P-2BlMnSmTpycrMl-2F3YUrZ5O= Rq5FAdCxMWVhQCch8a-2F1gwQi8Vvo0ZSKgTfdLQYQBHJoa-2BZaK8vfTem3MjGEnbkNBRPC3ij= -2BqIKO0r1SB7E4o7gTVxyni5BUPxGz2wZbcaHNS4L2cLr7nZxfd-2BqyyfZRETi-2BVLIjgFgc= MepdSIx8IdmP0qqutX7sTdA3U3lKGtnfen5cMYo5EC96Mar3ISFXtyta-2BJZL8GDXNyBW-2Bhf= vE4SGRoJI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>lat= est report on the industry</b></a>.<br><br> VCs concentrated capital into fewer, higher-= conviction bets. Many of 2025=E2=80=99s largest rounds, particularly in Q4,= went to seasoned leadership teams advancing more mature programs, a contra= st to the preclinical platform financings that defined the pandemic era.<br= ><br> That recalibration is reshaping the early-st= age biopharma landscape: Deal share has declined, but median round sizes ha= ve climbed sharply.</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-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGsdom7dg= IJ0kudz908Int3w-3D-3Dlgri_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZ= hjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcK= oKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP= 1TH0m6TgE-2BuwNHcjW7IoOUbnLIc-2FrvKoOtnbRanJAolf6juff1X-2B8pjdBdqMb9BgrYl4K= vdQFH4z360CYgGG4cBPS4X9ZaB2oTbWtq2ZL7hGyi4DZcsYbYfSee7MKzmFzi-2BcYdkqezC8QP= Gn31ukOzx5px1dLatnq9mNek12kMMLmX9MUlTZuqJNH5xY-2FJbDjLyPjBjnTcRplHBAfAlfZx1= wDYuIK2ZR7Ku6bX9WDYCqFSnd4cPvmCKHqc9OpE7LZF0xCk5Daj0XYD2nk5yick-2F1d1VfT7jG= pTC0oNEoWwQ-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"h= ttps://img.pitchbook.com/news/72730.png" style=3D"border: none; width: 100%= ; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">That's= not to say investors abandoned platforms altogether, as some of the larges= t late-stage rounds still backed customizable therapeutics. Pharma giants c= ontinue to face a steep patent cliff and are looking to replenish pipelines= .<br><br> The difference now is quality=E2=80=94invest= ors want well-understood biology and clinically advancing candidates.<br><b= r> Biopharma VC exit value also edged slightly = higher in 2025, even as total exits declined. M&A was the preferred pat= h to liquidity in Q4, but a quiet wave of smaller, high-quality IPOs began = to reset expectations for a public market reopening.<br><br> Early 2026 is already confirming that shift,= with biopharma IPO activity accelerating out of the gate.</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #40C2C9"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGsdom7dgIJ0kudz908Int3w-3D-3= D11c__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-= 2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YE= sCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYX= PzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7= IoOYZkOShLBdGfy0gKZadPQm6e7PdccAYbvUoqqU-2FdtRMvl7IH-2F3l5djqRah6OtuY2oRXjc= VE38jh7Xcf7LCmBWWxeYbLxIvV-2Bh80zprq4FqO3C95d3I7bTkWV28Cfr8XdyDLMs-2FFfkDHP= LDGvjpRb7aj4-2FbLS8rqAuZD8Lq6b1F3XMYoU7q9QwY1qrAS8M9NS-2BsjJms27qhpR0yzXpSD= i3JFK41ZnY-2FU36JdttKbtxhZFWpFXqpxV13gDL0ndc-2BrY8r7qpv7lUvPYjGtLUrL-2F8G4-= 3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-= decoration: none; color: black; padding-left: 3px" target=3D"_blank" univer= sal=3D"true">Download the report<img height=3D"24" src=3D"https://fonts.pit= chbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; mar= gin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sC= S-2FwNyqCGWXn-2BV1rsF-2B5JxQB-2B6qWyxA-3D-3DboH2_I3w5d9c01gkD8gLzFEofZR-2Bh= 6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2= BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-= 2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0= RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOWrieP8atTSwUoKwKmsi2-2F5IZbvQ= n7jIPcLCh68eDRn9F2eQylpU60pLLHV9G6cdvZGVzxB0DyKnkiLFJSckM9p25WPI6Spb42e9Z8C= VH2MXeoCYzqsj-2BIQAh9LX-2B57rlhP4sUuV-2F82JDVtvey1iWRufEo6fRNQcIDJesW5jb-2B= v3uADZrbQsLdDi81JDl-2BG1TqfEPfw-2FcHWWfi3KrUMT8ouTSgV0XyeSWqWqLmj8qdq67ehgz= ojXxQXsK3ODGznirPyPvvo1TNE5BKOzWIX5PVE-3D" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Q1 2026 PitchBook Analyst Note: The Chinese Biopha= rma Landscape</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 PitchBook</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_577576" id=3D"n_577576" 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;"> Put your brand in front of the= private market professionals who matter most </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">PitchB= ook helps companies reach investors, executives, and dealmakers through hig= h-impact advertising and bespoke research. Partner with our analysts to cre= ate data-driven content or connect with our audience through targeted place= ments across newsletters, reports, and PitchBook.com.<br><br> Clear insights. Trusted data. Meaningful rea= ch.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGmbcpm= nRrDKgX8bEdKtiJlA-3D-3D1uvS_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t= 1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4Cr= gZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUE= cKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbB= gP1TH0m6TgE-2BuwNHcjW7IoOS3kSidzNM9lA58dQTkQkKEhr-2Bb0c8sulIzvNZksJgHvBptNX= vWLQoa09MLnHvq4ygJTxwfEScti0zRnhVJz80gIUWv9zlZhYgWmviNnmEUxb1VR-2F1vLAskiNF= RtBPgyZ9a-2FHCQHiPRaYex8jg5aTcT0IJFkMmy64wtpl-2FrXJTcJpBbXBUWlgHP03DBvsyeB2= CmOHwUXEGHL1L-2FORivl5ZTy-2FcVXk3geGzbQyu-2B12vb2g8jIc8OfNgktG6hHATpVOjNXSC= Fcbms1JwojmBSSYns-3D" style=3D"color: #1D5080;" test=3D"">Explore advertisi= ng and custom research opportunities</a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80= =A2 <b>The PitchBook-NVCA Venture Monitor</b> now includes league tables fo= r the industry's most active investors. <a href=3D"https://url6380.news.pit= chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns= wouzUCXhVEtWHva3sCS-2FwNyqCGy6kID39Z7jmWxW3jKnqOKw-3D-3DnJzx_I3w5d9c01gkD8g= LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k= 51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2B= LHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAg= WfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOeLTmyRi40D9zQAePd= qykKf-2B5Yb2CbtyQSA5I61fD2lmsee-2BsvjJOsSJL3gXygYXikpOG0bhlo5OAaOTV1XTbGLJi= -2BxmbnW3X6dNTBXNhUo4iAbYl6Hw9A5mpXHJ0OTmiClHaEcRr-2BWjbqAv-2FHudoQLHSQjDbx= ULrfyC6NT3bjpiDBKUxzqMoxG-2FCYZsq2H5vznWYGjAnXpD1MhwaG57e-2FXqEHj3xtKZbat4T= 1ROqUYfVIH-2FhV8-2FJv-2F82ZKiBN0oW-2FCANfEypVBZtTmOCbD2-2Fts-3D" style=3D"c= olor: #1D5080;" test=3D"" universal=3D"true"><b>See the rankings</b></a><br= ><br> =E2=80=A2 <b>Evergreen indexes:</b> As the U= S evergreen fund market has surged to about $500 billion, are these vehicle= s delivering? To help find the answer, Morningstar and PitchBook have launc= hed a suite of indexes focused on this expanding universe. <a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGmmd2ZOSD-2Fpwf4gROq7SmzA-3D-= 3DDeZQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF= -2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6Y= EsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBY= XPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW= 7IoOeLTmyRi40D9zQAePdqykKdTw9FxMDcn8cbhBePIDGjfnFUkbUWXGN87ZWrYcHyWPDiSYATL= OWkkHu9o7WYy-2FE8O5J2eWKwoBcE1QpyzADp2bXlmUrE96Hrj7oE-2BQg4DMe6kbisMNETcHs8= xkG8omMyC6JJ2AMSOw75RRGsW3CItzZiBssM3VhdDZ-2BhRcUIUKmSddEWX9-2F-2FytNs2hV7W= qJ7dkV8wPaVKwlqSZ-2BrG9KjobGKBQqlsaXzQ407-2BdFA-2BC2q3oRLyxEJPS3kVr7ahvQk-3= D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Read our analy= st note</b></a><br><br> =E2=80=A2 <b>A two-tier VC market is emergin= g in Europe</b>. Funding for the continent's startups is up, but those outs= ide the AI sector are having to make concessions to secure capital. <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGvnoXe1kptP8H9QcUy4k= bmg-3D-3DGuz4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa= 0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hN= RteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2Fb= CxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2B= uwNHcjW7IoOeLTmyRi40D9zQAePdqykKeI0AqLLSFIgoVUyyw8GWTE8LQOF-2FXgg1hlNgFDSc3= XCa3SQNoS7PKm-2FtpNtPC0I13QrzE9zzZ5hZ5B5IGa83k2CFuJBRBVERUUDaAsqUiZc9lwu84v= FPzzR5Q-2BAiyOT4MZm9HdqyC6-2BlZhX9EMi6AI53qVlMOJATtdnMXlUNwtfyVvPVNW0DNIr0i= YsatORRoHx8pCZsBO4qpMad9WbgyUjqn-2Bl7mP3T6OZgh-2BwBEOjCD-2FA8JW1SNBuEblIV-2= BzGAI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Read mo= re</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>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>How PE's strong software bet fe= ll apart.</b> The rise of AI coding technology is threatening to make decad= e-long software investments obsolete. [<a href=3D"https://url6380.news.pitc= hbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzU= CXhVEtWHva3sCS-2FwNyqCGRfGF1Fp7RxZOKDMZZXq8Zw-3D-3D82Bu_I3w5d9c01gkD8gLzFEo= fZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4I= nTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXms= HT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3= wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOeLTmyRi40D9zQAePdqykKd= Ztw7kJUyEkRCZN2cX6RHTxTAmFv11sUS114cRtVPu095SZo8ZWef9jU6YNDfvnNgKCjorQgXlZW= iZ8i392g-2FcgBi-2F3NH5FcvkgH-2BG2QML8cacjGGpO35ItZYTuohlaTkMx4H0mRH1-2Baz-2= Fn1qlNGQ9kIzP70k0rphJ-2F5219KuwMC1kRv1rVGg5S4Q-2Bg-2F9v2D5hIk6u8uS8fdan3SIO= IPdrQuhjALodm6EuuesxfbvH9eUQB64YiufzPai5auq7qZo-3D" style=3D"color: #1D5080= ;" test=3D"">Financial Times</a>]<br><br> =E2=80=A2 <b>NBC hasn't had this many Winter= Olympics viewers since 2014.</b> From the same period at the Beijing 2022 = games, the network has seen a 93% increase in viewers across all of its pla= tforms during the first week of the Milano Cortina games. [<a href=3D"https= ://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGnswKB28q7KHXy4q877grKg-3D-3DP2m-= _I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV= 1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzop= zLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-= 2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOeL= TmyRi40D9zQAePdqykKcvcjkiiys0GkToGdvlh9QYdthERpxZEjdzI5QvOk-2FywXKQB-2FoRZk= qvZGSM4LiBnRECO7VSYaFPmchHCrYDYgFn-2FHs5uYJz-2FKU-2FE8VHWMqHJCn1e-2FfFdGjIN= -2FAWb3cdXkUX6jfuF7SIgfqrEHrGm7z4ArVxKI0W2p4SCkmzbhcwUaToMds-2F79mycYDnODfs= twIIy27nh4Q2Zu0YUcOp36NwfXy7xyhnJNuLzpNJcp-2BlQT9mS8me5tG5v0VMgdc7jZA-3D" s= tyle=3D"color: #1D5080;" test=3D"">Reuters</a>]<br><br> =E2=80=A2 <b>European Central Bank economist= s are calling for centralized EU oversight</b> of the bloc=E2=80=99s larges= t asset managers to close supervisory blind spots and bolster financial sta= bility. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGq8QplHx= YYxIlyySljw-2Fnaw-3D-3Ddv-u_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t= 1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4Cr= gZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUE= cKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbB= gP1TH0m6TgE-2BuwNHcjW7IoOeLTmyRi40D9zQAePdqykKeP-2BSk3JUk9ad2MM-2B0l-2B2QRz= pfPn3SoZVRj33l6y-2BHgUqnKsYf9NOaUfNgUjSXs6GTipkn2bp-2BD4U2BNg1CmGpii96DjMeh= OfT8WtKG1jBP5JNnYtuknuC-2FuX6wyi-2B8fAv97hAmCePqmygiArpEGErvfujnoESYjJDVJZc= I-2FbQkvghr9nKdsSU6vka8U-2ByvzPITJ7kFYzUDvh4jvuvEqOZ9Hsl4YkvT7cW3dE95UmZpZa= fpS2F8MVQyV8bkysKm1hk-3D" style=3D"color: #1D5080;" test=3D"">Reuters</a>]<= /td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzUCXhVEtWHva3sCS-2FwNyqCGbAubY7PvN63MK153-2FZ2EGA-3D-3= DdePn_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-= 2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YE= sCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYX= PzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7= 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sans-serif; font-weight: 700; font-size: 14px; line-height: 27px;= color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr= ap;">Since yesterday, the PitchBook Platform added:</td> </tr> <tr> <td> <table lang=3D"x-counts-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t= able-layout: fixed;"> <tbody> <tr> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-align: center; flo= at: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 163 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Deals </div></td> <td style=3D"display: inline-block; min-width:= 25%; width: 25%; text-align:= center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 495 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> People </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 213 </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;"> 7 </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-2BaqM7ONnvsnswouzVQonHj6qV-2BNoXfn6nr3UWSIB-2F5TMefz2H5O7wkj1PyNw-3D-3= DuHYf_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-= 2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YE= sCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYX= PzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7= IoOeLTmyRi40D9zQAePdqykKcACre84CKnsUCqEa29008QAjxffdt4qo2yFjMGRKsxssjgPW2bn= egVYmMQR7cPJLZ7dhhjuREKm8I9jrw2EK6KsaqCaqseN5LRVQ8psLgDPm0sWE8yU5L4N70KK6ED= YGJPdnH34tzvtgOawTzSZGu-2BfgtEbiVkTfQtNMGVpNkDV-2BtFI4iH96l2zcj8McgO8PUD6hB= C-2B44dO3PXRmScBwGy0c3PqBb3vdmRBw7DwERI4J-2FP7OZ-2FweYs1bHyD-2FaTZIo-3D" ta= rget=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-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>Correction</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">An art= icle in our Feb. 13 newsletter incorrectly stated that Netflix=E2=80=99s pr= oposed acquisition of Warner Bros was approved by the Trump administration.= The deal is still under review by the DOJ, among other parties.</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_577653" id=3D"n_577653" 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: 2020 Vint= age Global Secondaries Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 85.97883597883599%; mi= n-width: 85.97883597883599%; max-width: 85.97883597883599%; 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">13.00%</td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Top Quartile IRR</td> </tr> <tr> <td style=3D"padding: 0 0 12px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 100%; min-width: 100%;= max-width: 100%; background-color: #40C2C9;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">15.12%</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;"> 0.18x </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= swouzVQonHj6qV-2BNoXfn6nr3UWS390RXjic485PFpDSNUIvqw-3D-3DkRFM_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4= k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2= BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuA= gWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOeLTmyRi40D9zQAeP= dqykKfOXBxKK0mQL8Xj6JPnUcWo1AovQqYWzuI5Kw6OiWSHieIQkEKmFbA-2BQOnN1R6nhfKuFL= 1kZuoLkTedJyCjRwzU9g5Eu9Z3ih6twGnRmLWHDdE0ttTh-2BQuN437ZIbunGzsJVfkaSnfRwp8= vqpR3T9Ca3KHoyeCTthcfJF8Yvl4ujhRnshWWUfe1l1vIpXrUXHVnX8rsIqneJSoI8rCSb67WAU= dAdyXIk-2F8GCtM7kXM78oA2gZXHkAz7yG8jTTyToaA-3D" style=3D"font-size: 14px; l= ine-height: 24px; color: #1D5080;" universal=3D"true">PA Secondary Fund VI = </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= swouzVQonHj6qV-2BNoXfn6nr3UWSaDYt1knsCc9vSPT4WFImaw-3D-3D6qWB_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4= k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2= BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuA= gWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOeLTmyRi40D9zQAeP= dqykKdjoopP8tmvK1rkSscCG0L85CdH6zbo2fJgtn-2B1zGGtyS9HzLtkwCWVF6-2FU8fEjhf2v= u0k4svGGhMGHZxZaNqvCuZ90UJIyYV4m6C2IUBcJf-2BPzrMflsy4e7n5fnmrH-2Bz86gAzlHAH= AxhtForCp-2FfSE4NtcswA-2Bvhoir9CNxFfqDo1U4nAzF-2BuOG0snjhgEqoWIIhHYZ-2F-2Fl= TTov9fbBrEqAmk6p7SBPKMrQTitOKOhdlteLnk7e8fYR4AxYT3ZiL4A-3D" style=3D"font-s= ize: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">W-Prime I= V </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzVQonHj6qV-2BNoXfn6nr3UWSaFblbRsQPMEJWiCDOSDFmA-3D-3DRa-2_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4= k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2= BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuA= gWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyx= C5jhNJmIpwKQ-2Fy-2B8xmM1MVJEPqUSma42bHTqqJ4hv9S6F8iebHjPwlMxxi-2BX8EbsGut7A= KQ5v9KQBFfsj6NhooBRfTM1HAdP7nOLt8Cc1E7CFpxF88aFyMuYS1GtJ8DSayP-2FWSadxs78Xd= so9XzJ-2BIkFr0VryWT9ywqZU-2FOlN0haJRjUdcNHtEDeciAQgi-2BlSGRPYGs5S8kgTnG4tHH= P5jygw2jJEc1-2B46TacQKO4TIto1M80wuTx8IUDU8m1xSlKJ8R4Y-3D" style=3D"font-siz= e: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">LTO Fund II= I </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-2BaqM7ONnvsnswouzVQonHj6qV-2BNoXfn6nr3UWShWm9= vuWbYo6jcYHzj-2F-2FnxQ-3D-3D68w5_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy= -2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjE= Un4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoG= sycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0O= qFBbBgP1TH0m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNJYSgYH2cnQOy-2Bz9dwVVX3A= uIjrJ6oREhzjf8QdazmpA9YmBX1i-2FccsVZP58ZZuTiEFSRKt1qthqKrwC1amEtNqZpMfIzRRA= jjol6x0PuNt6K-2FbDqzJ4sA35z1LNWY6AY573OJrckEERczfumxQHnHLfwTmhnt2MmINpCPoX7= NpTto-2FlqCbcB3RNhfn4BcirHYI8o8q1FdXtV9Khu8FArFF2j72cF6OSkKpxRI6vPGB4NeSoI4= VMft-2BNrC2CcbEb6U-3D" style=3D"font-family: Roboto, Arial, sans-serif; col= or: #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" univers= al=3D"true">24 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-2BaqM7ONnvsnswouzVQonHj6= qV-2BNoXfn6nr3UWSLjjz4cmaJe-2F3o-2FEKVgjSiA-3D-3DiMvK_I3w5d9c01gkD8gLzFEofZ= R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InT= B8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT= 3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wk= DgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNLzW= q1Yd51VHw5YpDm7Oic4nE3BujCDxMvm8tobZjY29-2BUvr-2Bm59HT24nEMn5XzJYv9NPUCgVtp= glRlUR5es5am9mn64uyaPu4kdibt4xGJ9hJdtLZ4kKHCtVjTkR51-2BcX4uuheDAbLNO9970AGo= s-2F2A4puchKhABgz1QsBnWX1pTloNme07t42tQkLFECOMr5xcDRm9bQgOZTDdF24YsbCbDvzdA= v23OHz4-2F5ieDLS-2BOpKEONzdL3bPkd63-2FsfxUE-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " 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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-2BaqM7ONnvsnswouzVQonHj6qV-2BNoXfn6nr3UWSVP3mW3tP-2FUMi-= 2BDqQvU3nww-3D-3DZWBV_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxG= pqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH= 55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0= m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNKhS61fyjSU-2B6UfltCztxCYxe01dhLvNsm= eGrJOaFNm1egcSu-2FC93O5aq84doUUrKXNkf4XfEb-2FDEmdX1MPckHNwnT-2FxsjwgWq2rEfd= kZxkmXllPreECn-2BDYpns6uJ1x-2Fym4rm0ozlHReGM9AZ7x9P48ExngAvMU5CEt1JPOqKsZoL= 5wKvZFLACOkgfdZC4hc2LevYryFraBu-2BAfK6XtDPocKhFJHwb16B61mFkGYC-2FZWeCYjOJfh= rrhn-2BTisDwDjM-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Simile</a></b>, the developer of an AI model to predict human behavior, rai= sed a $100 million round led by <a href=3D"https://url6380.news.pitchbook.c= om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVQon= Hj6qV-2BNoXfn6nr3UWSSDEH4vmrH5ui8blVWokWlQ-3D-3D43OJ_I3w5d9c01gkD8gLzFEofZR= -2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB= 8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3= Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkD= gaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNJJpi= VK0hhXd446RLB8inIKeD-2FMgaw-2BlcSCee9TMmneYQs49-2BZb1w8DTkgkfVtGfOe-2FULcG0= gfjAWBjou3JbGUkOuhb2I8ckXODXQmfv2WpQTsWcuQG8X1AsA9UhflEiEC-2F1ZfS2HuSUIFe43= mM7zjSnevN0JEr6AjIyFt-2FPoYqwqNt0bnXzrKIfVD-2FmMLPzb-2FPMHvYmLF6J3u0o0CT5yK= Ctw0oVLpg-2FxL3RVa4ELI7CxCvI0RJft3zTTf8UqFG084-3D" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">Index Ventures</a>.<br><br> Enterprise procurement technology startup <b= ><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVQonHj6qV-2BNoXfn6nr3UWSh21wxGfUBMU= 2bPYutLYUyg-3D-3DPUXv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxG= pqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH= 55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0= m6TgE-2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNI5d71H-2FBgNnNOduE80D8uipZrT3-2ByOP= t3O4CHXMPr8ELJ9iUtYhLX9wjSSUMEsrxZ0MQ9BlOY96PlZtF0y7MS-2Brbzdmri0VolAicDZS3= 6cSzwtByaRYdrz6kZE2RcnAPXVCa-2Fr0nblprRRW-2B-2BbaDBqP-2FzjlDOH5YijcC1saXfk8= MRtnIQ96aAY9y3qQNuvda5-2Fh-2F9VniLXhyaYv38YE35eQUFfSNtDgnPCPtbbRplKe7reBt8u= ihCLhQ7qySLO1Zk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Didero</a></b> secured a $30 million Series A led by <a href=3D"https://url= 6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7XknV567sl47F5e6DcOov-2FaXsx-2F9w-3D-3DgxLk= _I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV= 1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzop= zLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-= 2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOc7= 1OyJheRVDcCtyxC5jhNLajTYzcK9PbZZBUez-2F0NgcOa8XmcAT5F3lLzmLW-2BW1oMNlBMHazY= pl4nQ5oCWo7ZtlEOEYSCPDnpMlSpBYZCcPYFFAOQMEMYXv1ObwnYHsEXsUe7mtq6ISQdh9yzJ0b= AyVCmaqVeDoGpLQAVceKrH9XNKPeaRwLYjHgD0CGIXFEWD84eUi2Ehsw-2Bh1uovicf9TujH-2B= 43CS7JY5R23C-2BNOp8k6U1-2BWg-2FuOCCB-2FgXArTY6kHoC78Wnj85x8Uxx8DaJM-3D" sty= le=3D"color: #1D5080;" test=3D"" universal=3D"true">Chemistry</a> and <a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7XknV56MRsG3gQx0vhrzQSvdmS= SJg-3D-3D29AY_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa= 0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hN= RteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2Fb= CxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2B= uwNHcjW7IoOc71OyJheRVDcCtyxC5jhNIjN3eStK1euqPAeBEEoHzoPD-2BoWXc7Fv-2FxbalXi= -2Bnjbv4OuoP9XTZAmdkltsHhS9q3BwCzfvTEuLmPhVh-2FvGqMozXa4TA9Up72qsDrukSajoTl= VTWGu-2Fv6VWgLfphueZwqkLrgv3HzWbOwPZGM8TfawX8pjkSOB8FltYfFh9XEHeqncw17qHSBU= fVbdAMOifTzn0fcMNTp-2BwK3DJMr6vunWDCfnDYbYjcSkNgmCuzU1nsAt7msMEH-2FjCHybnNK= e7g-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Headline</a>= .<br><br> Financial services platform developer <b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7XknV56PyKp2NZcvDVyl0J0N= O2S5g-3D-3D9cSz_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3= hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2= FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-= 2BuwNHcjW7IoOc71OyJheRVDcCtyxC5jhNI0h86C2hV1lnJrqvJLeqtYrwCMaX05LCNjm76JY1G= 4b-2BuQz5ZG8ywbQRI5KXjIBsft-2FbAUKh8ucOFmKpNPY5w0M07OsTOmujZIoj7Q8CaSf6IurU= tQYqFsjSnlmrrGHuKD8Ebw1LYwh8PbaXmXg2-2BZE6s3Lhi6cw4wo05c0DZqrCtINgF-2Ba8hcM= awvl6velDCLDBGRS1XiRI3AUOtP74Ux4hVePXjER1guWrnVkvY5yxwICw5LnSxsJC2Y-2B0LVLX= s-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Uptiq</a></b> = raised a $25 million Series B led by <a href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zW7Vs1jznqtryjYj7XknV56FzkFJtujY-2F6ASaElCKBA-2BQ-3D-3Dj8Xi_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k5= 1A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BL= HXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgW= fIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so= 7i9FxcIE92iLH6YAeSpZcXSsxQch-2BNWwwMAb-2BwrJB6Hp5VfGtIzKv-2FlwYU67qmd-2BJQj= o0jifcWpu7-2B23yI3RBZn3ld6T2m8Btjt5PqxR63Hd072igvxTVp5THTVil2MjTKe4NFlqT4W0= LYhb6js3JON1xTIV7HuzD2nsUPdqj-2Fpqyff6RHLkO05Yonyodw4tF71m9MRFasSsUxb7kyFer= N5HMJyHdmg4zc-2BwgfdOP8H-2Bo3FnardTmy8FCZFGkH75rgkQ-3D" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Curql</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">Saudi = Arabia's PE-backed <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7X= knV56PcqOmxo16sOfFrFTU19oUA-3D-3DR-8u_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgM= jlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJH= LhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZY= jYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so7i9Gf1FQHa6X7O2QbEj8A9= U-2BIJINu48L7uPkUn8pK2JKV8Bo7vgoWzi3HX5zFNf5Mok1G4woSq8G3zSdbmzTn2g3ZCenKhH= KM4kBfDCKIqC0C4h6JOxwfw4z63RyozlgRjLFGJ802ETTCUHQqzrA6A0ydDtHkbwdlSEj3ORdmQ= afFdk8sUORT-2BvrbYMJFhlxTcPO7k1dHGLfJnAZQGY6bjg0GE2wcCsPS3nyLSERabvgxGE-2BS= -2Bz99u0w6rJSNvyE-2BG5c-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Savvy Games Group</a> is in advanced talks for a $6 billion to $7= billion deal with <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7X= knV56Ex7ixHX1WN0yazACziOrDA-3D-3DAvFa_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgM= jlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJH= LhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZY= jYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so7i9HcdCsOW1yyFHNwr-2FT= ApYtN6JlA8hJTcHN0BZUflJo0i8hGflU9G6sylA1NdEjinCALSZuoVYexMA-2BsJJ1Bum5eXA84= XSNeoeL9LA-2FvJdNTzlXX8A3SKEBumfIhcoOyw7Fhcz78KFWB4h4scxi7kMGt9H11B7sBq7ul0= YAAc1eDsdCaiGj-2BtdXVGAR-2BNwI8GJ6Xv32w1-2FbymWYz3Dn8iSHOnffxCMijwfNmL981dj= SAmCg5SUPWgjQykNtKeMB7Qik-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">ByteDance</a> to acquire <b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzW7Vs1jznqtryjYj7XknV56c1sbv2DAmZ396u-2BmHbNmyA-3D-3DYpIy_I3w5d9c01gkD8gLz= FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51= A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLH= XmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWf= Iq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so7= i9ETBfSsPZDMAFgNuWiiKkguX2TjX4aBUbvWS3LZzG6OIQiQErnjY2Rma7AGNReHnuSdAWniqcf= BuMI37FeI6AVYfcV1you3AHJcLdY-2Bc3Bzwhg6Se-2FS9ECWmHz7tFFv9A4Abz-2Bsx4F6W-2B= y4QKiDKod3YMsmxghbF0-2FeaqcPZO5bynKqEk-2BrKlTK4RwD4DM-2BxslVsabvLCgPlYM9Mou= WL45EDigkQk-2Fubh47yQkc6GJiKZ1OLud3Hf4IxkiLxwZ-2FgT8-3D" style=3D"color: #1= D5080;" test=3D"" universal=3D"true">Shanghai Moonton Technology</a></b>, t= he studio behind online game Mobile Legends: Bang Bang, Reuters reported.<b= r><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7XknV56r8Mf836x= kHth-2BeGoH332BA-3D-3DAQCL_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4Crg= ZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEc= KoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBg= P1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so7i9F7NMj0gWhZVk4AxXYrYYtkFowKN2Hz= MspwJPPFHspJJi0hjw7WUni2-2FQc89f2VVbDRqc1PqunPh62kE-2B6GZlwrhzVHaT6lgHFLKiK= XfT7vMi9q0ItoY-2FT-2BVyezD6L9NbhIxLyGn1tnLLWNPPs5xXcJTyG0c2XpuUOzcLDR2iUlRf= u6hih7JZ409AbXZCn7-2BXxaT-2Fh2SVkiBQknvscWZq3xO3EiHglT32gFlGA7yAn6pguq6hHxv= 3rE30V4KgxGoSw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">P= atient Square Capital</a> agreed to acquire specialty healthcare management= company <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW7Vs1jznqtryjYj7XknV56-= 2FTOXEii-2FoFO-2F649IDaQKZw-3D-3DOYFo_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgM= jlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJH= LhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZY= jYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOfwCABe3gxobXpRS7so7i9ELjVgvoQBHyyWdwQ5yx= ANOjVEz4r0rMUPnwQJM-2Btdt8bJnUhQHohOu-2FOocSE5F6E2AlYXJYIP5oDUvvVLzsrweJGJi= wFH-2FQztDwWdHPrzWs41oe3b378qXQJdCJisFOPkn3Unt2G6oh5A60JCZaHSjT6QowIhojUsau= cUw29TNqeO-2FFmqKLMBTk3T16aS-2BCA2fR4X5nMWY7tIy9s8dsJEqex6iAauI4JfFIcJGcsTn= Qtopvcbik2ujm3fFevVLNSo-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Paradigm</a></b>.<br><br><a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW= 7Vs1jznqtryjYj7XknV56V1e9afzvblAPoVsXW6JAXQ-3D-3D7Lcg_I3w5d9c01gkD8gLzFEofZ= 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align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVv87uO-2BjFru-2FtduQzi5C8dzJIe-2FbSmUgq= AkKFZQhB6DA-3D-3DxXIR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxG= pqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH= 55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0= m6TgE-2BuwNHcjW7IoOf1IQ3qSnmVSFdX0mxJ6sMURJ-2BPQZ-2FXtr-2B-2FE7SpdwGcBva1Yi= A1T7ed6mzWJRo-2BZ84KjYU5Vy7F28DUHgVhGXQ0eNsMmZmB-2FueG5SivvUDhal8SeRBI-2FzT= SYkwURfmp1hrQIRSciV5hqUKxU-2FI-2FRE7AXp-2F3eVrdf87dFXIbbQE04-2BvHUM1SEUJKeF= 64tE7-2FMxejBsTziDPcnKEg09zTUMM1cw36zx0rqx12OoLMg8fVKIYn1Exi9APNP-2BAbB2Y5A= nUsVxAjdVPMXleq62LWmjzg-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Clear Street</a></b>, a Wall Street brokerage backed by <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVv87uO-2BjFru-2FtduQzi5C8dwcXc39hFrHox9rNNl= wOm2g-3D-3DGMtt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3= hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2= FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-= 2BuwNHcjW7IoOf1IQ3qSnmVSFdX0mxJ6sMWjHNfor3fSTLv0HqAu-2Fg8dzPgbJoVG4Z9Ivy5uM= vWBKq8rXG-2Fz7W3zRbGh4Dpm-2BKsFrrxw7iurHbm9zn27NjQ14EJpIQ0Q0HzZCz1PLqeKurfb= 43lPKNxMhicU8e5Lc-2F0eoGQ5LSa2Xpyr1PiC1D-2BnZDwFAInixP7bpv2kWovSjzIJRyCppCz= ZZbA9ShEJMpeCwNHwOjPh8-2F6sMvyHTebS8enOY1txiH4cn9kM0SAWAwCUI43aJyEQblCxKIz-= 2BMtY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">SBI Holdin= gs</a>, postponed its IPO due to market conditions, Bloomberg reported.<br>= <br> London-based <a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzVv87uO-2BjFru-2FtduQzi5C8d1BuGkswx4I76ghwA2VMV-2BQ-3D-3Dzltj_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf= -2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J= 9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLB= nY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOf1IQ3qSnm= VSFdX0mxJ6sMWT7mp3NNx2T8yca2IryWvYmAY1jp-2BIUmh4gTPlW3HR9mtKDzfY-2F3MspapSS= c-2F4WIikr42k1SGrtidbfpuJ40tgL-2B5qz81AnIET775cBiMnMKnbbCwGiTRaOWPakqJmDMsY= HKxKpSArHFVzkCodHJgAKJN-2FG64lyAMWMI2iSUZjEbeEVsN-2FLR4IJZO-2Bp-2FXJL2D8El4= dkbOvNXE2nULdbt-2Fklv1HWP70uDvl8h-2BjKPJ38VB82ZwUBIBsP5GlcxnG-2BJ4-3D" styl= e=3D"color: #1D5080;" test=3D"" universal=3D"true">MML</a> exited <b><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVv87uO-2BjFru-2FtduQzi5C8dj4yMBOv6PAYyZh0G= -2Bs-2BuUQ-3D-3D_UDM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbd= WeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjlGjEUn4CrgZhjxGp= qsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJHLhIoGsycUEcKoKwH5= 5g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZYjYd0OqFBbBgP1TH0m= 6TgE-2BuwNHcjW7IoOf1IQ3qSnmVSFdX0mxJ6sMWFuafB2dv6K4fiA-2FmDDOgiT8jgKNhH-2FH= KotC6A0f5ZcwhBslRpEwRvuDEpEhUjW3HcMsEevLMRauaew5-2FmOAo1gY2PJSB-2BMpc0kh86c= XtEaHYL-2FP1f6g4tgNV131Nla678PWwePcgjh6v4gSUYXK0niebZcX7aqfWCL-2BmEYxphtMsB= MV2g-2BBmDPaRjjmgFsIro-2FYnmzGtFOX3-2BkfB5VbbJ3R96TVEeI0KcXEjo60-2BwCDRKwGE= 7TOOI3lZcUgzGees-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= >StoneTurn</a></b>, a Boston-based management consulting firm, to financial= advisory firm <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVv87uO-2BjFru-2FtduQz= i5C8d8skKdc1IVo1KFpBh1QwEzQ-3D-3D1EAL_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgM= jlGjEUn4CrgZhjxGpqsDX3hNRteNi6YEsCzopzLxaS1J9qhfHr2BLHXmsHT3Klg-2B8Jpb5GAJH= LhIoGsycUEcKoKwH55g8-2FbCxPaXBYXPzFI-2BFfwLBnY9viuAgWfIq3wkDgaJ0RNsoP1Rr9ZY= jYd0OqFBbBgP1TH0m6TgE-2BuwNHcjW7IoOf1IQ3qSnmVSFdX0mxJ6sMWbbUZ-2F-2BA4zBTOLK= BNKKberWT8LQNvbN43nRkDtlx2FbXG-2Bbir7YrfTfVPj2t1UhFpt-2Br4xTxEJ2ERLRbp-2BDn= zH2P1b6FYausQ8qk687Uj6MBeHkFNn7GBs4xFchucgOX1W4J9sO1I3vUYU9Os8jlgsbfWygTIRf= ylK04fVRMLWgZgT449yeyaK8OMyzUkzohx6JxQyPO0VGrXdvGNRpTYCuTgvQxrtqBkzQV40VX32= OtnMnp8tBVX0VTC9deeIX8k-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Province</a>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Holdin= g company <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVv87uO-2BjFru-2FtduQzi5= C8dm2ZmFhESIxU7U2mbePID6Q-3D-3DGODI_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsF-2FbjV1NQkkjf-2F1GP4k51A4InTB8j-2BW-2BoOYEgMjl= 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colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Chart of the Day</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td 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