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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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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 23, 2026= | <a href=3D"https://url6380.news.pitchbook.c= om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWXolHtEt= M4M-2Ba8odm503JSLZeZYX-2FTWfEr-2Bp9NDgVSwg-3D-3D0M2O_I3w5d9c01gkD8gLzFEofZR= -2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1Evn= jlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-= 2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xedu= PTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DiaKN3M= Ycw-2F2IslN1qn7ZlzhwjM4uiEcwMsM1-2Fxus09sLf5NlMz8EWDNkBbeeA-2BZ3qLhA5mIVgJ8= ETGOisWyhnfvd9pThuY2YzWbAEf0ws8s3HYj0CqR8x19lrptF9gVa4imxH-2BHVTdizabNDY7TK= lLFZ2nOb8xJQ1xNYjYGEGc9OTAOh4PgHvfZZzwr0kXUmU1udZHyH8rY2TmZIvcxiplSKdIcyC-2= FcQV-2FaXUkJozGHMaNjLoGnEQlqEcUjYFcpqYvxJ1-2FCEa-2BtuEVDmPTlW2V" 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; 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If you=E2=80=99re not quite ready= to let go, read about private credit=E2=80=99s own Olympic moment. <b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWXolHtEtM4M-2Ba8odm503JSe4US3hb5aISSEy6N= dVl3-2Fw-3D-3DoLf1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe= UgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk= -2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLG= uDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7c= YDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DiStzniFHu6B4Mfcau9XGgfYmOsa-2FMuwA3gfsQQ= rR27N1h47y-2FiyWkn0HNrxeeJB2jMK8TsotpEdI6cIaOp-2BQbHQU8a3psB3SMDXnTuqFgHFJm= ck-2BIcfoJOVdf6NIJ4FjEqukBahsVHbb3qnswfUQf5zCAUPjjMSqvpn24w3oE3GvlehrcJL7Ki= pTTJh2RuvBGICxBPdf0G03yaLTOhWdx1XgGgzOsms1LD97JL04mXwMcoAM-2FMtCrQ7jEvXavKb= KxjvPFZMYw9BeSapCUpwOlw" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Dive in</a></b><br><br> =F0=9F=93=A8 Was this newsletter forwarded t= o you? <b><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWXolHtEtM4M-2Ba8odm503JSSOJXTc= Op5LGX5LHqPkCdpQ-3D-3DT2d0_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklT= QPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxK= fBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL= 5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DiEN9jZN2EEMZfcPFLlZYmmneXzMCJhck= NiyLdZjHSceEabrLuC826JrsRyPSm-2BXJE9VTgDbq85NsEVuvEw0m0-2FnV8I6Jf-2Bd4JyiEH= M9WFky0-2FC-2BZ76FRk6mrBFsBhmUkduxX2Ckg0YBVF7lLA3fq8s6WPJsHP-2BslIYm8oxOFPm= IXr-2FwNeTNXxU8tf8489ykYUF4vtEcMc-2BazM2CxruP9U3D6ygzg9owCdkWUle0DGtofpaExQ= zonG3T0nfUjxT69Mnglj0vstnyHtX3SZaGtp6" style=3D"color: #1D5080;" test=3D"">= Sign up</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_577875" id=3D"n_577875" 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;"> Despite tariff teardown, the r= oad ahead for private markets remains murky </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 = Rod James and Jacob Robbins, PitchBook News</i><br><br> In the wake of the US Supreme Court's 6-3 ru= ling striking down most of President Donald Trump's tariffs, the road ahead= for private market investors remains uncertain.<br><br> The president has defiantly vowed to use "me= thods, practices, statutes and authorities" he could use to keep the tariff= s in place anyway.<br><br> Trump said Friday he would use Section 122 o= f the 1974 Trade Act to impose a 10% global tariff on all incoming goods fo= r 150 days. The law allows the president to implement baseline global tarif= fs to address trade deficits, but Congress would have to vote to extend the= m. On Saturday he said he would raise this blanket tariff to 15%.<br><br> PE sponsors are exploring how their portfoli= o companies can claw back tariffs paid under the illegal regime. But how th= ey might do this is far from clear. The Supreme Court has handed responsibi= lity for this process going forward to the US Court of International Trade.= <br><br> A flood of refund requests will create signi= ficant bureaucracy for businesses, potentially causing near-term disruption= , according to Jeremy Swan, managing partner at CohnReznick's financial spo= nsors and financial services practice. And how long it takes the government= to process the likely flood of requests is anybody=E2=80=99s guess.<br><br= > Bloomberg has estimated that US Customs and = Border Protection has collected $170 billion in duties since global tariffs= were enacted last year.</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-2BaqM7ONnvsnswouzWXolHtEtM4M-2Ba8odm503JSljOonWt= Lb0dQda7kpuF8Uw-3D-3DoFwn_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQ= PLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKf= BFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5= GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DjGEnY6k5pwCmkzKTo84NUVCNZ9iqPlpLe= aOcniOzCXzk4NaX12qlo13bfnoRnQbVnFD4r-2FB-2Bpu0hVWjxcAqUcbL-2FCLHumU3tUcAQuX= xpNQuSDaSe5fUKWwrla0gUpA9bYyAGtom-2FQBUKphEK5O8IMb0KBqbvgAZHTLFVh0a4FvAEaVW= 0GfPWTjmDvOsW9ubOla8VE8S37Y2vy5jfOAvasL0KWeqf3gpQOllqG8WSyUs3k1557Z-2FDS-2F= k7Xx-2BsR3X5pmGnsbQBMgDuwBShj2aJe6" universal=3D"true"> <img align=3D"cente= r" alt=3D"" src=3D"https://img.pitchbook.com/news/72912.png" style=3D"borde= r: 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">Tariff= flip-flopping also helped derail a playbook that had been quite profitable= for US PE firms: take-privates of undervalued European companies, PitchBoo= k reported in January. Trump's pledge to enact a temporary 10% tariff as a = rebuttal to the court ruling means dealmakers are likely to continue pickin= g up their pencils and putting them down indefinitely.<br><br> Last year, tariff-induced uncertainty rattle= d public markets, forcing many PE- and VC-backed companies to postpone thei= r public listings. Businesses such as Chime, Klarna and StubHub eventually = went public, but months behind schedule.<br><br> Attempts to bring tariffs back could create = another speed bump to IPO ambitions if they unnerve the markets, just month= s after a US government shutdown halted nearly all public listings for over= a month.</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-2BaqM7ONnvsnswouzWXolHtEtM4M-2Ba8odm503JSljOonWtLb0dQda7kpuF8Uw-3D-3= DTwmR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL= 83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw= 2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8= xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQ= D9euMxwQR14t9v52zcHB9DhHAs1LdaBeMB7lKTqtnaDj6GL08Kq3JkgSpSvDh1lXmxf1PH07NSo= QeQfLq3JC1xANGirHtjK5Xzt8xkqlK-2BJAXLsTBiITDsIiSUMwNlVo8361-2By-2Bo5J6ktQAV= l0pBovi0VEMryhs5n0wI420MpknsMVxB8Yt7SCG6EydGNyZdUxgyQ6n57i7GOPe7VAUO5Aunc7A= C7XTpnLt72b3PlGZtR1LNVj55ISsCjjL9-2Bl-2FDhkdoA5lpk6eQomikLmwlitV9-2FbXhUtYT= k9Q4-2BVuEIwWp" style=3D"font-family: Roboto, Arial, sans-serif; font-size:= 18px; text-decoration: none; color: black; padding-left: 3px" target=3D"_b= lank" universal=3D"true">Read the full story<img height=3D"24" src=3D"https= ://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align:= middle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5= Ys8O8vm905A0gHlsoYBF-2BWKBQwegA-3D-3DxfVK_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk= xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDP= WkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVV= K48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QS= I5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DgjyeR9vb2LTaWnopW= ITCbon3Ys7eK71vngnVGTKcz-2B42g2YMMrijRNO-2BlLRoEQNW9Vtics6f6asfVMlW1-2FYf-2= FmuXe9CxmSb1Btz9-2Fuc-2BT-2FYSzLvRPKDl9yZjQdcxuG6cte60xyYey12btQFt-2Fe8fqGb= Y-2B8wXu8zbn6asLVKi-2FEPrQp537QNThLCUsxoNIjHl8rBTqO-2B2Mw2D9HBKjTs3nrlMoRn-= 2Fk08t-2Bt2ww8LUTSBfIJ8hHUNlD27b-2FjmpzW8SgGIjf6wrmZkW6-2F4gqSdOir" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Tariff fears hinder US bu= yout firms=E2=80=99 forays into Europe</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>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>Farm robots and AI applications reaped the rewards</b> as VC funding= for the agtech industry ticked up to $1.5 billion in Q4. <a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vmQc0gkwZrFQuQRKGrDfnp7w-3D-3DvgX= 7_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2= e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2F= jVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-= 2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9eu= MxwQR14t9v52zcHB9DghDhZKASMp0J2pIPeeJHPybTMiHrP0GyKanrgCrgurFcFlc9ULhxusQ9N= 5HtjhEFQoh1o-2FrXV0Dmbf2VxgJHnlw1mEwxfQu-2F17TOz1meNTTVNSWFNlBLKvSVVsI8KeR6= PtlqgNiBbLNsoP-2BFtq2WIrXBlRu7i69XJ0swxrFPBM5oWkbXEXFoJVgxMlDPPBOQtjmnYYWkH= r7kFgCAeZ9VfU2At43NPqsgmhxTjJ8AQaq1Iw-2Bpw6o720fSdtt8iQ8Bcfx6HVJpBf5yClEa6z= bWQt" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Harvest the= data</b></a><br><br> =E2=80=A2 <b>Ares Management is bringing its= sports investment strategy</b> to Europe, planning to launch a fund target= ing high-net-worth individuals on the continent. <a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vmz7QQ-2BKmRtjtbDkAQE4mwwQ-3D-3Dz-Q2_I3w5d= 9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvL= Zen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyD= YkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZn= r3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14= t9v52zcHB9Dh-2BT4LrXD-2BjMeyZnjfe-2BzKau-2BB7pGaa9cI-2B1fIPBBOcOkT7fRICzPgH= HmdKLuvuEbROqPmOvr1E1wX-2F-2FdI2HY2zPBjC8WwuOQpY-2BFQQs5chQP5dX30JDARcidcZQ= sf71D2ISV6dqPPeX-2BJ5XOAV6eoiMm8lobvuTjvCavbfh2Tb0Ve2k9JTu-2F7NVAwXAU9wfGez= La3rBAMZto9T6Ta6fciplRBgOgV-2FAAIjH-2FuV0-2FahXKvisZhI2oInCGPPq0VL4-2BJIldZ= o1u3yrPjJZxGuX07V" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><= b>Read more</b></a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_577869" id=3D"n_577869" 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;"> VC secondaries surpass $100B= =E2=80=94is 2026 the breakout year? </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 Zheng, Senior Venture Capital Analyst</i><br><br> The US venture secondary market just crossed= a major milestone.<br><br> Annual value reached over $106 billion in 20= 25, including nearly $92 billion in direct secondaries, which nearly double= d from 2024.<br><br> That brings secondaries closer than ever to = the scale of traditional exits like IPOs and M&A. What was once viewed = as a temporary liquidity fix is rapidly becoming core infrastructure for VC= , according to <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8v= mZWXRVdhp7G4quOyUKGhqTg-3D-3D_6Om_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz= y-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv= 7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6= sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5Ncxtvc= uZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9Dhs-2BtuhAKema-2FFgzuAMXND= u2yssxxxWdSVLINR-2FPcLToh4tqPCXF9dwSjT68je5eb6dKYXH1D26qU7ZDk1odIS1d7IBbAKW= XYfc9DfhnRxK-2F6AypYidDDCHZpvbPtilRJ9NILRSck-2BttxXR83Sa1YrMh5FN0rRRQgkqKtO= OqeWStZ7iAw7yXouinQCPzwYi-2BFRvpCEBNG9U4n2khQIokAhxLxwEtxa9LOwuIXvsSdwMnNoL= 3hnvs1MF6439rF3HTUqlIeEvvRfIloo3I8kSn1ZL" style=3D"color: #1D5080;" test=3D= "" universal=3D"true"><b>our latest analyst note</b></a>.</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-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vmZGd9crEqE= SKhAn-2F40l9EPg-3D-3Dx8hm_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQ= PLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKf= BFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5= GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DikgBCC-2BWAQS-2FGcHoDPDrlFvatw1ik= qtO4n-2F1HksEjN6I3-2FBgz92XRRU-2BV9DjpTIT4CqHMP7h4JXPPNX-2BeFkOMxkwsKQ9aaBk= 4uO-2B6cxJtW6All5c0Dy6TcLlrVfDE2qJq2Fgg2dnzrsQcdein2PlFNmMpVZ0WZwcyVFqt062u= Hj2glwA940yTLHOL6RqhCYLY5cu70GCe4rEebOI7J-2BfViu7v2lfBQjHa0eKH88KShRag00qwe= MmvTRoyonICycgGpMxBk0y00R6NJ8B9hK0ND" universal=3D"true"> <img align=3D"cen= ter" alt=3D"" src=3D"https://img.pitchbook.com/news/72882.png" style=3D"bor= der: 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">Still,= 2026 won't be a smooth ride. Mega-IPO candidates like SpaceX, Anthropic an= d OpenAI=E2=80=94whose shares account for a significant portion of the curr= ent secondary market=E2=80=94could temporarily dent trading volume after go= ing public.<br><br> But beneath that potential short-term volati= lity, structural momentum is building.<br><br> Institutional adoption is accelerating, with= Goldman Sachs, Morgan Stanley and Charles Schwab all making strategic acqu= isitions into VC secondaries. And tender offers are becoming standard pract= ice among leading startups as a valuable tool for employee recruitment and = retention.<br><br> The result? A market that's maturing and in = transition.<br><br> Sectors such as AI, crypto, defense and aero= space continue to dominate trading activity, fueled by federal policy tailw= inds. SPVs are expected to remain a popular tool for accessing high-flying = startup stock, but will face tighter oversight, especially from issuers wan= ting greater control after the wild west of 2025's multi-layered SPVs.<br><= br> Dry powder dedicated to VC secondaries has g= rown 2.6x to nearly $12 billion since 2022, but still represents just 3.9% = of primary VC, suggesting significant room for expansion.<br><br> The market's growth may not be linear, but t= he direction is clear: VC secondaries are moving from having to prove their= relevance to becoming embedded in the market's infrastructure.</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-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vmZGd9crEqESKhAn-2F40l9EPg-3D-3= Df-9Y_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL= 83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw= 2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8= xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQ= D9euMxwQR14t9v52zcHB9DizfVnyAcRQlCemB59eVReqblBInYw-2BPCx19Tn7dLXOizpcfGFds= Lb6ujqnHQVYl5-2BlkI0SL6yh9EFzgn5dirm-2F7283OWakqZ5tKiTsuR44oq-2BgHK9Edtg2LL= LQMinuYal2Vd3GY9tEgAesI4bS1IxvR3Q4lWASSvdlmMvlwcfLb2LnfUWxPy8YhcMWE3q8HfGYO= nJoeSLd9A62gD4bGKWTVSIyAvNOevgWcz3j-2FWMKtSkltJOq0-2FMZ0PO1jpy2V02MgVT4OsJ0= Ww2k15hphq0l" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 1= 8px; text-decoration: none; color: black; padding-left: 3px" target=3D"_bla= nk" universal=3D"true">Download the expert analysis<img height=3D"24" src= =3D"https://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertic= al-align: middle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb= 5Ys8O8vmEon5VEyy4tE7HYKmYvpG4g-3D-3DyA-V_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPW= kFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK= 48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI= 5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DjHyyBMrujjtNGpgQ1-= 2BT8ewU2OWd3UdlemPlYWeAKYc7BrC9no4Hnchg7U1vd4Bwzkinn1H4-2BTNi6nFC1svWdTKwSH= cP66C5oYU-2BqeOV2rlHVV2AXrVHnQseJyKJ9mEQc94Sc-2FzUhU1aU8EcBHLRHlSBh4kjjG9u8= aRZ8fkZoG6Ti64qCCpNc9tGL3oCzkSC8xd0sCb4Ya9OUFWBhcq5k4la0DUCw4Hlti3-2Fs1nOfx= qc-2F9TozSU6JmSipQMzarrLYBYHUk9MtBeUMuCil3diQMX" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">2025 Annual US VC Valuations and Returns Repor= t</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Side Letters</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma= rt reads that caught our eye.</i><br><br> =E2=80=A2 <b>AI hacking continues to get mor= e sophisticated.</b> Amazon research shows that a small number of hackers b= roke into over 600 firewalls using AI tools. [<a href=3D"https://url6380.ne= ws.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzVsseXIgN9qm6Fb5Ys8O8vmZvZxrt7y3455dIL6UFhAFQ-3D-3DQNZR_I3w5d9c01gkD8g= LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1w= QuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017v= y8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7= rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB= 9Dj8CeP7NHL-2FFFXfArhkE1RALvyWWnZgtxK2DpiZkP4wCURwh0S4PeHplD9EIDCHAfxiVRrLE= VrIMTgfXfhbp62Xq7gJCCc6YEIHlg0pe-2B9C4SpuR86dcllrDKh4cmBaUU38RkDZc9kbkxaS7E= 4syYXsHeBGQ9Wq9Dw1RO8-2B-2BiBx1VgsikB6zzQpQMWUK89bvhMzK4sITaxLJyvLTBQ-2BoNK= 9i-2FErDpCT0IJIgBqWLbU5P3e7sYmo4G6I5Gsa0do2wt-2Ba8O-2BpozOatNH5VXglIdNw" st= yle=3D"color: #1D5080;" test=3D"">Bloomberg</a>]<br><br> =E2=80=A2 <b>The US-Canada men=E2=80=99s gol= d-medal hockey match</b> at the 2026 Winter Olympics was a final worthy of = an intense rivalry. And served as a reminder that national pride isn't alwa= ys a bad thing. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vmi= -2B8ThpbhQvhfood1Lo6Ffg-3D-3D8Sbq_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz= y-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv= 7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6= sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5Ncxtvc= uZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9Dhzo9iZ-2B9JGLHqgRSfccoxli= ZRGFUpzGixSQG64vpf8o1maSrwDVzMuSMgPhgpMu3U1K0wrUpD3LoS6-2BukKvbO-2BQx3Qwy-2= BpvNRkDaouay9bqTQf7Qj26vGD0TTXhQ1j8QEt-2BabnFwtGg2NNSXKLpG7p598ieSOSaUxftZA= sBM2tn7mNwYJSPoRK3IRntv5RfV41eY-2FNGFks4CxOzqDSwRijF-2FD8GesUKXn6IntuDGE-2B= oT8e7oMCrP-2F5YTsmYc2NeryatvcgIpLb3e-2F4il0QlZiv" style=3D"color: #1D5080;"= test=3D"">The New Yorker</a>]<br><br> =E2=80=A2 <b>Several former eurozone crisis = economies have rebounded</b> through fiscal and labor reforms to outpace mu= ch of the EU, despite lingering structural challenges. [<a href=3D"https://= url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzVsseXIgN9qm6Fb5Ys8O8vm-2B7vUcLLXhXrLb6t2TCguog-3D-3DMSwe_I3= w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IX= tvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCC= MyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2Fth= JZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQ= R14t9v52zcHB9DgOqKbGjI114EYC0ie-2BRLSZoSvRrFeczB1w-2BGB7FRCkLaPA26JHUyzymPc= GpeuVQ0Rn3wY0E3mHHca778N5217IWejO-2FxGPGL9jMyw9bkph4RPqg5DYYwphRi1MM53etROm= wttrghAEvAd0SpJd2Q1AILYoYzHWbIE-2Bq1ts77IPaIjCHKM7I9iQ4G0LB2O9174mC5YjfyQXw= gn8wjg-2BjJxakYNKdTVh8iV3Jea3IoILqKojMTU-2Fqb7LPleOMGkLjd3Q-2FDfQDsMYYEKnWU= xjsxS6" style=3D"color: #1D5080;" test=3D"">Financial Times</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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</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-2BaqM7ONnvsnswouzWJkOu4IGNXOjzrq7qC-2FkQ4UsFscCVC7pHvukXmnD5iWg-3D-3DL= nuh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83= X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-= 2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU= 5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9= euMxwQR14t9v52zcHB9Dh47aB5fIJ9LJRZZtSJAQARKwV2rse2emRCTl3NOMvL4wdEuKQig6vrn= -2FK11tJx7KpNMjTQcpoUslw1YcMu235gExISPyNxLUipeVg0W2u1JjBR5odKdqFp3S07ZwKWJo= 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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_577874" id=3D"n_577874" 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 VC 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: 62.9513343799058%; min= -width: 62.9513343799058%; max-width: 62.9513343799058%; background-color: = #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">16.04%</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">25.48%</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;"> 0.83x </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= swouzWJkOu4IGNXOjzrq7qC-2FkQ416wA2Ki2lCVC-2FeiJpziE9Q-3D-3DCbeR_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2B= f1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD0= 17vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-= 2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52z= cHB9DiHSE26iz-2BTgC-2Fgi0R-2BEKLUANnjzMjqPzi6ztsWULhpOG7Dqzn4L7GrltAYuXe5Q2= M-2FiT13tMFPxzyZm-2FNQmtDS9R3HxVMoehI9S-2BNr-2B3O0Qf7F6Y1gqM-2FnfM5e6YxrGAd= OmMq0y72ifFvuoP7eGGBWzjJxgkte2dytLsc7ym3wL6r4S7FJKI3M7V-2B4AUpUOHGgt6H-2BOs= 0nogp2y-2BczcmsA1jbpWFQ2-2FAWuVXkzLKgI4wh0kq9mJMi04F4Uam5rl7Jwi7sylzTw8vsoS= a7lYuD-2F" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" un= iversal=3D"true">Red Dot Capital Partners </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= swouzWJkOu4IGNXOjzrq7qC-2FkQ4KICui3r4cbICINQtDqvoUg-3D-3D9f1g_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1= wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017= vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B= 7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcH= B9DhOBGuOCYllr317J50ZyMBicCI85fQdX9LAN4vasYfaweOQFtKZk3Nzih0AB-2BoQenSnGihb= DNZ0oTCxyDkIxtZPB3Z88QCRX-2FnGHgUE-2BMsSFJrrBx4Bah-2BqcMFh39jBVHU4QMm7pcEc2= lGB7jQdomX32lwN0Ssi-2BGKwj-2FBfkqL7n9UERp3vnW1WYrsiDdWe8tpQK42RT6Ig4O1GBK9z= pHkjzQJNl1XkvoNgPIOdUQJh8EzyBwKwWB6GA3NVniifOgb-2BLCqopI7uec75IBJwJ3Mb" sty= le=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"tru= e">7Wire Ventures 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= swouzWJkOu4IGNXOjzrq7qC-2FkQ4gJd9gsXHa6EjIi5w4XQzMg-3D-3DTw6i_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1= wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017= vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B= 7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcH= B9DhSc6Pz5rvRjrSCFPyYvsI5e-2F91PPU-2FzhyolGANiLET90AckadhC1-2F0nd2G1US8Xehr= NvI13Nr-2FV-2BCsReVg0KtAeEglxb-2FRGCG5b21VL2tGQJTmdj-2B76L1KTv9WS34Tx-2Fp2J= 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= out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWJkOu4I= GNXOjzrq7qC-2FkQ46ehHGUOyIhvyYbxhugInxQ-3D-3D39MM_I3w5d9c01gkD8gLzFEofZR-2B= h6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlY= zXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BF= UfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTX= RB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DgNTY9WN2P= fNXECS64IwIITgImglToCoGyYQfldvE1OM2uIW8tSflb2gF94setyPAbMiLDna-2FJuz0c8Kp4a= s9unIWWuM7o1KRyaPLaYpGhyVzTZc-2BEImZNrgfjLCFVZDA4PZ2Dz1sKAvSohmaiEXQeNxZtRQ= 84h8gQ712-2BkUr3Yuhz9gmQ0vLX1tAEszZ1vkA-2FyLWtTiNAkKitvJDWyPkdHYswOuK23v4zK= 7sRvxR7ozcU18WguR-2F7Ug0s8qPhEN6JBNmddeOS1fubAXwSQuo4F" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td 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black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>VC Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWJkOu4IGNXOjzrq7qC-2FkQ4YwDMn7bKzf8y0QdV5g= kN5g-3D-3D4o53_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFV= a0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2Fj= SoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgF= dhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJ= ouaIQuqZQD9euMxwQR14t9v52zcHB9DhwG1vqR0PPSejufg1yfKQAMMfsgoRurkJbX51ctyXxmV= 88W58-2F-2F5DFLHBXpZEraQwfTMcVmZgkMbOucZ8YO7lENjRwwP4bveQPujWydLKlZdFc0LBDV= 6oIwDC8CYBO6sctDgH3cYC4O7Jc8lt0Iq7J3Gbgv7PWqGfS-2BUNepe7nT8rpAERmEdmMN5rsQ9= LMXUwpXb8C5YdpXsqAFd0WY8jd6-2BEbZvVAR1grOe69Wf6ZapXVR4qaoJdk6ZNP5iRg4MmSyUB= cYnUuzT836pgPPTKy" style=3D"color: #1D5080;" test=3D"" universal=3D"true">N= vidia</a> will invest $30 billion in <b><a href=3D"https://url6380.news.pit= chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns= wouzWJkOu4IGNXOjzrq7qC-2FkQ4XOiEqpsGOgnYElDj6-2Bg1gA-3D-3D5ypE_I3w5d9c01gkD= 8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf= 1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD01= 7vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2= B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zc= HB9DhK9H3F10tvlW2YMPx7rxpDjC8re6hVyl8FGJasqSSfxp-2Btu2ikeJHUIcOFGWTfBTdywuW= ZMY5yKdhk2Wf07CMKv1FM53gXDoy7jbUOHBGISM9SrxB4GAY0-2Fn0vNWEtF3E1hGB89dIUCc47= RFDo6UXqLzCWbBYH1sC00wsCjOZ1YsjffR3CpA8nA7FEIk2YQONp3csBuXwSiQ7XVOGFE88Sidx= 2oQbs7agPE7-2FHbdbiwUIWbyEN7EtxnFvOI62Umc6g8OclZqUnSiiV73qErbT-2B" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">OpenAI</a></b> as a part of = the company's latest funding round, and will not proceed with the $100 bill= ion deal the companies had agreed on in 2025, the Financial Times reported.= <br><br> Toronto-based AI chip developer <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWJkOu4IGNXOjzrq7qC-2FkQ4z0NHLqbsI-2FGlpKq3G= x0b2A-3D-3DOeTC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2F= jSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDg= FdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDb= JouaIQuqZQD9euMxwQR14t9v52zcHB9DhcpGFsYi-2B6mir6On6IWBfLVMj24o21W-2BnobO1Wh= xotJTEgWLiLbzHqZ-2BF0zroTSlOAvlWPFDPfD1ceXPN0o0giW3uyPy-2BVEKjpbktGbXNjriOC= FRC4O6K9gAtLtraKf-2BdzRzoMPHSnhcJXCJTzGNmwVU8O4-2BmEp18ToeGL4ZjeJnU4UTcJ2su= wlvZyRp1ypwIm5Nb2xX11tFTSvO2gp71olYA4n47l1E0dUth2WE1hu7416GU0v48mLGS31dvlKC= lOlWnc4oaerfDfy-2F4wuAmo" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Taalas</a></b>, which is backed by investors including <a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzWGKCGrrAGkDxWCJRIEicQMNzWJMzwUrNdjaCvbj1a2XA-3D-3D= aWtB_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL8= 3X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2= -2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8x= U5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD= 9euMxwQR14t9v52zcHB9DhpONfriVwrzsyKhpjbvcfvoLzcalk2LzEqBwMiK3q9suvYs2GLBnwM= VZ0Z7a2zBVXXXO5f1zR5n3fjLxgXcl-2FhfFK4s0FWcObphj5oVUA-2B2EfQmGPEkocddrltOxa= XY-2BMt-2BqyXMCJz4iebsQ9koxDCH-2BeQAPg0Vy3SQzN-2FR2O2drxMgK2aVearxn989yCVfW= zrH62iWZFJ-2BAMLa9IoszYmUQqP-2FBTtNlCWYFFTQ0VTi-2FxRxv9-2BD-2FROVfsAi8VIt2q= QdSdQk-2FGfNhhUEa96lwM-2F" style=3D"color: #1D5080;" test=3D"" universal=3D= "true">Quiet Capital</a>, secured a $169 million round.<br><br><b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWGKCGrrAGkDxWCJRIEicQM2NoWNKPCiB4M3Vh3QM1Sz= A-3D-3DWE-X_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m= 8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoV= lYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX= 3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJoua= IQuqZQD9euMxwQR14t9v52zcHB9DiatBtFKfBBkoMxTWueHUEmcB047dKXNINPAB5vxi8uv6Y29= Nt6gtZmZgTXdGNTt3iNTw-2B9UaqD7RHQcXLkgltEWs-2F2yeST3OqopRJpyyd9R8Y0eqsmCSO6= K1bQjcvljEtojfuMsuFtFhrWV3hFtsgp6fI2-2BV08c1RxEkcpX8cNyOmGygqIqyhBz-2BVgIFl= bH3A9jwQJQ6PYpD3QguKKv9YMQhYjMAXj74V8iQCrIDVKy7W9qCFlNQJUpNAbhPVVbGyLl6sOu8= l98gRbciDOTeuf" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Code= Metal</a></b>, a startup providing code translation and optimization servi= ces, raised a $125 million Series B led by <a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWGKCGrrAGkDxWCJRIEicQMX-2FhB0z4vW0G8NjI6gKjd1w-3D-3DZFvx_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2B= f1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD0= 17vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-= 2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52z= cHB9DjBYWiM8Foh-2Bgdlc-2F1C-2FEhpSa2UhpMAHEmAGqarQ8QM-2BUgRx9nzlrxp0ltsnM7h= gPlQ5IoVyQRBFsf-2FK7I5uiWLztRrPOopPRWPUphvyGt5Jfx0JpbsfBANbPlT4LFIM8oP1U28f= ihHulnhkBymsFL1Cvmq9UdHe6y2-2FMasLWruZbVuP0ZUSsgMyLvGy1Y8w91YuBjS8T04TQE3dE= ivmSk9nnjo9AjZkmUu6QLq1DkLci-2BJyFFBfJ2BSJZflDDblxuiPJ8MSqRkIJrVoy45BDHL" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">Salesforce Ventures</= a> at a $1.25 billion valuation.<br><br><b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= 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W-2BUy-2FEhWopwDcwOZEw-3D-3DIjVm_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy= -2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7= azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6s= S8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5Ncxtvcu= ZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DiFJTI0r6cQdM4rX2PEfEF-2FI2= POZRZKA-2B4iZ7-2BHvv6PGh9cGxNlVGLsFni9biqna3qUBNwt-2Bads6bQ4Z5l-2FAvI5RLgFx= tK-2Fv2Dl6-2BGHkSR7gUH51bcoeMYwKtoOOm9n65ZraVIBJ-2BWQ-2B75aR0OIs-2BPhaMezTC= crGGxiNIL-2Fh-2F8-2BFX9jkjNAatubDZIoMpZNrKLMUk28ZebFYJMMPs4TUugh-2FvQNtfKcI= -2FLcOyXiNWK7De3834FGOoE0uqc-2FGv15XHxxsydrGPktRH8Qlkf43-2Bc-2F" style=3D"c= olor: #1D5080;" test=3D"" universal=3D"true">Lead Edge Capital</a>.<br><br> Rare earth metals company <b><a href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzWGKCGrrAGkDxWCJRIEicQMPLgqDm-2FYMUt1XuipJVKDvQ-3D-3= DargD_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL= 83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw= 2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8= xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQ= D9euMxwQR14t9v52zcHB9DiXoLcjrDq4i51GeL6SyFktFloLQt3OQ3-2BdIX5II5ga6ZRM1i9JE= nn52iAASntsqkWHAupqTe-2Bz0uNQxIzivtGsxNcZfbcNGKUk6tP0Ti2OOKsxbXAaU5b6WlRH5-= 2BkkRasDb3ooy07lR5e3apoEk558jupHnw9SA6AhfqfwuXM8OCvCS57VPOILoIIgI6x1rOXwglV= gbd6FGqxww1-2B0o4YE9X-2B-2FY1su-2Bsth3GgfIOMOAoKDq2YZ0aFtAMNh8vZ0vuWXXLOJhN= CObyUh0UnrhflK" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Phoe= nix Tailings</a></b> raised a $40.2 million Series B-3 round, which consist= ed of $30.2 million in equity led by <a href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zWGKCGrrAGkDxWCJRIEicQM-2B4-2F0tfjmEATJiv17qnJ9UQ-3D-3DHxF__I3w5d9c01gkD8gL= 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yD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUf= JCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB= -2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DjhMzycjm-2F= -2FoFZDltMP2dpIkdGHP3TeBFYzQpGuPBrwAQPgpNEI-2Bo2Nue7lZm8Ag87aB9G9jhjKfE8T83= dDBPecyNWwVmJptluqpufkuUKwk1dKO5AKK1Q-2FmkP4JCOltlRoZSyPG9CeqFp4NGt2eiu22e9= 6Bs1TwS-2Bh9tc0xf9xRc9Aukm56EQxiWqec0-2F9WwD5nv9GmKQ30O08gTixQc-2B-2F5uz-2B= LjY4Fx-2F3j9lfmFkzgufiDZkQN9YDXER0AszJqIhqLld14PGogK6IGr49RLyC" style=3D"co= lor: #1D5080;" test=3D"" universal=3D"true">Nomura</a>.<br><br><b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWGKCGrrAGkDxWCJRIEicQM7r6XDRMA7SdApYlRblmNe= Q-3D-3DeFlM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m= 8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoV= lYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX= 3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJoua= IQuqZQD9euMxwQR14t9v52zcHB9Dgl9LmwGg19CWuoFlaOl5qkX34v7c8P7uYm-2B6usP0IGYNq= RPw8FgHVVOo4W3dzNTAQhaGlH0zAUtwkmB15nLASyZfeJPThNCb0rrXHwHHyBQCD7FsnVEwbzMA= RugVuBDme7yPA1MkP49wsVA8iaEkAztIgfj8nD-2B9hJ9Bux7GWgZjwW-2Foz48XcANnIICvWn8= RFstOnp-2FOE68fPVgyNrfTh8cxgLgKzPtZQbyLfZHMZB-2F1jil6z8vFFV3i5MfkGCI8NvqdtQ= 8-2Fm26ze0JkB16t-2By" style=3D"color: #1D5080;" test=3D"" universal=3D"true= ">Emerald AI</a></b>, a startup developing software to optimize data center= energy usage, is raising a $25 million seed extension from investors inclu= ding <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWGKCGrrAGkDxWCJRIEicQM2QCYtF4vA= qDGWXgjdZiDdw-3D-3DGY7A_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPL= ecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBF= 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vcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DiLiCJC-2B-2Fcz82v8eIyAD= 8OY-2Bq-2FUG7SMyozbxYCHZmYwGvkhe6aSSoX3IPlonwCXE9JVNsNR5klcj8FRBhGx3cHZ8Pa2= lB3fS0jVI-2FX95t5mtf-2FPKBIG8I6refMffzfjKzD-2FbYfoDKZLVWPuCer9QhpWXSeUw64L9= 9Nfr-2FEdL9-2Bk6iFPij6cumfN188zMJ7ICUOABb5q2K2FRh3MkP1WFyJAKhlm4V6rtCyWnWtp= T52w4FLBYF4KtGfFUNXW7r06yx-2BR-2BnTo0G-2FvYk278wXtc4t5" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Inscope</a></b>, the developer of finan= cial statement preparation software, received a $14.5 million Series A led = by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXdCUsCXQdgv6RWUxl4C8KedVXlTnYn1dX= u7NGbFJ2swA-3D-3Dp05p_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLec= UUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8= CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQC= 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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"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXdCUsCXQdgv6RWUxl4C8KeCkrNn0YE2cZOb92-2= FRLI0eg-3D-3DbhYd_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU= gFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-= 2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGu= DgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cY= DbJouaIQuqZQD9euMxwQR14t9v52zcHB9DhqTa94qfoeOXUGQmnX52FybI8MZnYyUZ9MAU9SUaE= -2BP3yddtaC3E8axRZ81cUNoPCZiVFprDI7uLKpQqZsnnF3gtRrnzF9tOezAxjs3Zn-2FNv6BkH= UywpaTozUudtD1rlaettpa6yFil3Ny1fzrSsTzv4IQZaa13gNgvxb9P7abIBUEDzo9b8j2ggUhn= erTlqKcYekaZYJrKqVCXoo3K1NfkVRmyhcO0mcsVJthhfdPaOnzP57iZwHlRra2fUnsT7zctXNY= LToHEGhmUGpYt2yP" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Co= nocoPhillips</a></b> is considering a sale of Permian Basin assets that cou= ld be valued at around $2 billion and draw interest from PE firms, Bloomber= g reported.<br><br> Connecticut-based <a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzXdCUsCXQdgv6RWUxl4C8KeR-2FrbFyt4-2FqKHY9-2F7nUmp2w-3D-3DeUA1_I= 3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9I= XtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVC= CMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2Ft= hJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxw= QR14t9v52zcHB9DiaDmm9ZcmSouOCJWQPXrZ66dXCKVPmAERTo9qnbqfjko7armSfJNGrGrGwql= EmCYCZFT2KGrmgioEoS-2Bo4fnAamI1OsTFG4X8X9JZKdAAPbl7JuBev9-2B06aeBlPEW6W-2BB= rUVaiFdG9tkMNtPl0H9SrYDb4u4zH4U49P1r-2FpzgLvtz8Vd-2ForYH91fKZfMjrkqW-2FZ85q= 7O8EQ0R55rPhs2z4471EKH84vcSmZPBxqG9HY9gLlpfWbnhbPxTCClutiYoSPXQn5tVffGEvsCq= c4d0m" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Stone Point C= apital</a> acquired UK wealth manager <b><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzXdCUsCXQdgv6RWUxl4C8KeoNkOhGLTeRoV6Rx28B5bjw-3D-3DScXI_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQ= uJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy= 8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7r= ib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9= DgjHXinZBmlewgSPZ-2B0EUg-2Fp101RMy9blVSwmvaj-2BwsWbmOZkOEsJLRTVLZFbK-2BLV36= FcRWe3KdL-2B0Sho6C3ntLcxzNQeQ8HVerha3fo9Dvt6r5zvrTYA-2FpT4UiuZ4SGGLHfqB8hxm= 1FH-2B7WufYwD38zy7JL-2FQOArlZh4EucpomDVIc59CgJYOBttnFpKDw047me5kjIi3IVaIHAQ= oHZMUSNHRMW4V4KH39WCBJpMAKk9-2BBycMP4DraA-2FMDUFTcN73-2FWYskr4zlLfHWkOn-2BZ= m-2Fu" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Amber River</= a></b>.<br><br> WaveRise Investments and <a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzXdCUsCXQdgv6RWUxl4C8KeIEOWMZVKHexS4BBhWl4BBQ-3D-3DQS1q_= I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9= IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjV= CCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2F= thJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMx= wQR14t9v52zcHB9Dg3f8TMhRxT-2BkASiWRiN1gFN5nUGNW-2FUYAnmvMf82ziAZqeM1CBuDtSe= 96ElPfNBERb4K-2B6tqEosgImlmyPVs1Slr7K2sVE28DMqyaYFhtNkJMhbqlD3YTzxBkFsUNQUi= 2-2FSBbpGeqzW7alBnzKt0YaON5b3WoZLUkGGAx9kCvdQShyJbfCUGCk-2BnxjaK8yxF0g2R6yF= GgLzp41vyeZnMjH5WuURQ-2FMFkY2O1Rrw0ksrcf-2B9FuB0gZ-2FmKfmat3OTrjo-2BKJAOCpR= PrIzeE6wi2i5" style=3D"color: #1D5080;" test=3D"" universal=3D"true">ChrysC= apital</a> bought a majority stake in <b><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzXdCUsCXQdgv6RWUxl4C8Ke-2BrlwneUuMCK9jXUMvEFqQA-3D-3DuxdQ_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1= wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017= vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B= 7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcH= B9DhBbOx26B2AChS9uXiLoSMXrjLLgchZoeWzqvJCsfICrAmaT2WC98BYPG-2FJ6aRxsOAgEjW4= yeBm20Z-2Brjimh0EVaVPtLLVExjeHecMCYyNqVajJFxIAj0SckxjI2K6q1b5CPdioQLN49vHqY= BMaCk-2Fk-2FhlI1vUV1B0LIJCICFXKkv9szGQs5q06PpEQ-2FOl1whBheNkf0igzqaHiU-2BCJ= WTlBfo-2B2IuyM4wwwJG-2FeJWNq-2B5KxbDTFoOdGy3chIbBIvpQYC83eDPTr2wiGMeRROWv5"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">Novartis India</a><= /b>, a unit of the Swiss drugmaker.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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;">The owners of <b><a t= est style=3D"color: #1D5080;" href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXdCUsCXQd= gv6RWUxl4C8KeUmdldN0sTybGsCbxSjoOHQ-3D-3DTa13_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= 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JeIcn-2FWJIss-2FqxEG7YH5Wdsic9-2FTC1BcWHyE64OizYrrY-2FirJdYogl-2BEE2FzyThd0= ryp-2F" universal=3D"true">Losant</a></b>, the developer of an Internet-of-= Things cloud platform backed by <a test style=3D"color: #1D5080;" href=3D"h= ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp= SWIrf6GFa-2BaqM7ONnvsnswouzVepL30V9Mv7efpoBOb8TAq3P3QMJDm4qURbCo0j9-2Fnrg-3= D-3DAwSI_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pz= sFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2FjSoVlYF= Xfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuDgFdhX3wL= cC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYDbJouaIQu= qZQD9euMxwQR14t9v52zcHB9Dht8Z7Bzzh1lAt39PcDwJn8qTLS-2BWfqCr3oMs1DgctoVCypD0= isqAGux7-2FG-2FVs-2Br1mhg2AQEDdUmh3dKhNcVVDkNTXWIEn-2BwhdyhJFcm6iyo8OJGtbvV= SllI60qdRLv1NPYh-2FXlOiEB67w7w-2Bd0yh5-2BJCerntraoBd8nX6l0fMn1WfkcaZ2-2Bx6S= MLIttSdllOLzUZ7oAV9aJuHiY4jA0kr5gA-2F80oRFzvH2CAqiGvEpSRi7c-2FR1du0Mw-2BCZt= nWx9h-2BX1VGecbmLkETWe6xj9ZZu" universal=3D"true">JobsOhio Ventures</a>, ag= reed to be acquired by Luxembourg-based <a test style=3D"color: #1D5080;" h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVepL30V9Mv7efpoBOb8TAqIW1QZDuqMVpWXMi5lY= F-2FZA-3D-3DWbV7_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPLecUUk-2= FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBFz8CLGuD= gFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GAQCS7cYD= bJouaIQuqZQD9euMxwQR14t9v52zcHB9DgABfGu1wr8hm2G7bw-2FTcgOCvRn7zL3eAf1UCf75A= OLAJu8ux94fMh6DhHo592FxuAJL5gHF5AwLXGeqW3tjdmlTQrf3VbXk8JOLc67ffXkSakNVeUa5= YhRhwOMSV7DTQQZizxNPm6Iprsg2GfVrI5HhH1WoYj9MemmgNIlDEB-2FGH-2BlOJWXXru42pip= ApTnYcFAGnP820GkY-2FWzdwvCk3K-2F7fqXiaMMRo-2F6stEqy361uFBqBLUldjl5VkaZ8xmec= LrJILD9uz9cpuDX-2BPpJgAMw" universal=3D"true">SUSE</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"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVepL30V9Mv7efpoBOb8TAqTIraLBdQsj-2F9Ute= 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</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">Hedge = fund <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVepL30V9Mv7efpoBOb8TAqNbgpfO0ub= bJHwH6j7c0RHw-3D-3Dasjn_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQPL= ecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKfBF= z8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5GA= QCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DgLmXJijrgfxhtBOOoYKELX5Q4aDyzEaUEJW= ntHjd3eU4umDR7uyjCiWNPYRZBVCP1xT5PMpqwkf2L1aT9gR7-2FTWi7dQGpJ907Z1n27itVWgu= mlUc3lWR3Srovcjk1qmRpyn-2F73NMTrVpeMqnyb9J5wK61-2BWB8k3Ipoox7HpJi5A1c76fpRF= eLZ1Do0q2dibshViZ9szRr-2FsXiAO1hxyqJ9bEuxNBpUWLjOk28vtZxoA7LDpRZiKUVnoiyJEM= 6V8-2FyT42QYJGybd0A304ewQZeV" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Saba Capital</a> is preparing tender offers to buy shares in thre= e of <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX4IAn3kaXuPucXa8dFvuWUz-2Bxr= ZURYrBj4du4-2FX2s5rA-3D-3Dawt9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2= F3t1yZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7az= hklTQPLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8= AIxKfBFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG= 7jXL5GAQCS7cYDbJouaIQuqZQD9euMxwQR14t9v52zcHB9DgyFyobq2NHw-2BkM7W72Gbtwk5z9= qhMrGnFF9Ck-2FJk6NmT8okFMlYF20m1Vx42sHEgGcdlevCpQq2yE2huhnqjzB4MIYwB5lIoxcN= jysx8Mu8IaHy-2BozZZIRM7PJTIGGiPzznuF6yN4aW6GaSmkbT-2BaZcz6BcUdm8PFmroTiImKX= Ddye9y9zY16wFS2UqPSlWfkcNonQrLP2NwfFUnw4FqDCObIrogKB6isvWtDnl5IqVy0cEHipPDk= DJcDMyoNhXLoUhJIvosQDuANoeMb4Rcj9" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Blue Owl Capital</a></b>'s private credit funds at a discoun= t.</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; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX4IAn3kaXuPucXa8dFvuWUtruD9IniR= DF9V-2Bc4mFwJKw-3D-3DrlMg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFL83X2e9IXtvLZen-2Bf1wQuJu1EvnjlYzXyD0aDPWkFg59kv7azhklTQ= PLecUUk-2FjSoVlYFXfw2-2FjVCCMyDYkprD017vy8Z83tY-2BFUfJCiFVVK48rxpE6sS8AIxKf= BFz8CLGuDgFdhX3wLcC8xU5-2FthJZnr3446-2B7rib6xeduPTXRB-2F5QSI5NcxtvcuZG7jXL5= 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