Google

Edit File: 1774351336.M979115P504316.server-619288.prediksijaya.com,S=207243,W=210908

Envelope-to: most@ponjosonek.com
Delivery-date: Tue, 24 Mar 2026 18:22:16 +0700
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset=utf-8
Date: Tue, 24 Mar 2026 11:21:34 +0000 (UTC)
From: PitchBook News <news-noreply@news.pitchbook.com>
Mime-Version: 1.0
Message-ID: <eLg50jKEQhC13NRm6ZmCbg@geopod-ismtpd-13>
Subject: RIP debt's golden era
To: most@ponjosonek.com

<!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">
  <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;
                width: 0 !important;
                max-width: 0 !important;
                height: 0 !important;
                max-height: 0 !important;
                opacity: 0 !important;
            }

.line-breaker {
                display: block !important;
            }

.responsive-img {
                width: 100% !important;
            }
        }
    </style>
 </head>
 <body style=3D"margin: 0 !important; padding: 0 !important;">
 =20
  <table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp=
adding=3D"0" border=3D"0" align=3D"center">
   <tbody>
    <tr>
     <td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri=
f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span =
style=3D"color: #78766f; font-size: 1px; display: none !important;"> BlackR=
ock CEO calls for Social Security revamp; ranking AI's giants; PE at a cros=
sroads in Mideast, North Africa </span></td>
    </tr>
   </tbody>
  </table>=20
  <style>
    @font-face {
        font-family: 'Roboto';
        font-style: normal;
        font-weight: 800;
        src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne=
wsletter/Roboto-ExtraBold.ttf') format('truetype');
    }

@font-face {
        font-family: 'Roboto';
        font-style: normal;
        font-weight: 400;
        src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news=
letter/Roboto-Regular.ttf') format('truetype');
    }

@font-face {
        font-family: 'Roboto';
        font-style: normal;
        font-weight: 300;
        src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle=
tter/Roboto-Light.ttf') format('truetype');
    }

@font-face {
        font-family: 'Roboto Serif';
        font-style: normal;
        font-weight: 500;
        src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com=
/newsletter/RobotoSerif-Medium.ttf') format('truetype');
    }

td ul {
        padding-left: 1.8em;
    }

td li {
        position: relative;
        margin-bottom: 0.5em;
    }
</style>
  <table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing=
=3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo=
nt-family: Roboto, Arial, sans-serif;">
   <tbody>
    <tr>
     <td align=3D"center">=20
      <table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"=
>
      =20
       <tbody>
        <tr>
         <td class=3D"content" width=3D"100%" style=3D"min-width: 100%; pad=
ding-left:5px; padding-right:5px;">
          <table lang=3D"x-header" class=3D"container" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
           =20
           <tbody>
            <tr>
             <td>
              <table lang=3D"x-header-subscription" style=3D"min-width: 100=
%; text-align: left;" cellspacing=3D"0" cellpadding=3D"0" align=3D"center" =
width=3D"100%">
               <tbody>
                <tr>
                 <td class=3D"header-msg" style=3D"padding-top: 20px; paddi=
ng-bottom: 28px;
                                font-family: Roboto, Arial, sans-serif; fon=
t-size: 11px;
                                -webkit-text-size-adjust: 70%; text-size-ad=
just:70%; -ms-text-size-adjust: 70%; text-align: center;">March 24, 2026 &n=
bsp;&nbsp;|&nbsp;&nbsp;&nbsp;<a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzViDWkFY-2Fa=
sK-2F5dSJB9nRThQQ3qpKz-2BsXSIGcYOuxd0Zg-3D-3DK73A_I3w5d9c01gkD8gLzFEofZR-2B=
h6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jC=
U7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o=
8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkI=
ujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhOtRcmWhRFrX3v6XXqou3biScz0v-2BnE-2BbX3=
dnWkEPRWHJaDwF8pMVTQoFMjOfv2y1E8aR76I6MXU8EhK4Hr9DQPDIvMceGJVN6vwSofdePKNeo=
zRoI5xVeT3U0eZmsD33V9en-2BXN5br4RuEZPU3ZO-2F32MPfwr0ifjnoeHtnU6kffc0UFPelpN=
8La4CWMS1y7HqmO-2B-2FBm8Pe7S0-2FydnSYW2D3IwEYr34htbqrFhlNz2-2BCwyPzj-2Bzflr=
Ixz7BJXzdadt3g3wQplK73NdGHcLsWcQw-3D" target=3D"_blank" style=3D"text-decor=
ation: underline; color: #1D5080">Read online</a> &nbsp;&nbsp;|&nbsp;&nbsp;=
&nbsp;<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSgX8wjgWQkjpY2yE70mtuFtQh5JMynEp-2=
F-2B0ZsygXiW0dASWMAkXrIC3kg-2BeC0SuDoyGjKHmOSdfo63E0RLyaXhmtZcu9qypgyxWwak1=
NhA0coLyWLpIGucErQpvbIjaXQ-3DVood_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz=
y-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h=
0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIva=
UqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYi=
s3RrRq5zUTNPRo7niUxYhCqe4JkX-2FExFWWrc0yb9RkbqLy5CwL53fAe-2F4RU3ogv9NwkXpLK=
cXQ6QMeKhjGFqu-2BylBB4r-2FSwswg0Eh6pIoNIO5zTLLxBjrm6XMUZD6mY-2FMZU71AFgoGwA=
pHUAmVws94aL8uiH0w7ZqBg766uJ-2B98p4NCZxF7HxbWEinKR7km7APAhSGWrrAwsToXfP356r=
6iNaT-2BVLWxNgngjMYJa96Z1ba1MYIp-2FyFxkkv-2FXoV2c8SEN-2FEIVcC7x7fSBzZzUR5Io=
J0jbCAMyGuh2Vqg9fK4-3D" target=3D"_blank" style=3D"text-decoration: underli=
ne; color: #1D5080">Manage your subscription</a></td>
                </tr>
               </tbody>
              </table></td>
            </tr> =20
            <tr>
             <td style=3D"padding-bottom: 14px; text-align: center;"><a hre=
f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzViDWkFY-2FasK-2F5dSJB9nRThXXtH-2BzrUsSCsL4B8UU=
VijA-3D-3D6gp3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFV=
a0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9=
FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tO=
vwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUx=
YhCp09VRQwOIinX8VcLrKPT6IQGzKv1Z7eZzzpi32bTLUYjqk8M9PqhHRb446AH6Niyc9qpF6X1=
wv-2BiRYVTtxhD8ZvymU0-2FrAgJKBMWp9I-2FV-2FLNevr0CH-2BLKcPtrPuEQckBPgoeljuQp=
Hb4ORiq8GJSPnSNYMDLPl0LeGZdOQc6DiR3mnuEVQ-2Br2QsYuHgIQ6nA5w51cf3voIZvRibdlh=
a6bVVOps5tEEHAPGYyk1vYuIx4-2F7-2Bt3lLI7GqfFYHt6hbYV4TlffbBN2JzrlW9Pj8PY-3D"=
 target=3D"_blank"> <img width=3D'1' height=3D'1' opacity: 0; style=3D'disp=
lay:none !important; mso-hide: all;' src=3D'https://my.pitchbook.com/ms/pix=
el?userId=3D3DABLZ54MOPJL5Q&eventSource=3D3DZQDXJQ6VUBAECQE7XY5D5PSLQI&emai=
lId=3D3DTQ6CKBMFK5AKM&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL245ZG625LDUYNYOD6M=
6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DUAZEVU3EPI6EYRHRSC2KEHCFHGQ6ZMZ=
BKVWWKQA.gif'/><img src=3D"https://url6380.news.pitchbook.com/wf/open?upn=
=3Du001.4Qe7VL981gyAPMxYoCz8CBKmv7adpoGoGfpUfNDzw-2FIUFPDY6owZNjRg8mspgm8j4=
1Z-2FnAdIjK-2FTz9lnlrd3d4YSuVisQiHHRAc5Nex49LuoDg-2Bx0fwLJgJXs1caXcg8bErlWP=
Hb29vTKhcLgOpA3cc4PZ1XFU7-2Fq4SpVNz81IRfFvuT3kw-2BOf8choCd-2FXCv9AC-2FJWZjV=
EpO6WW1UV1ae8kNLlFrWI30-2FpeZyN9zY-2Blvl5XHCfnXIF8iDwfN6CllSM33j2yibw03XNgz=
Te9EZiH0uEnDmMcfDXPmD0dHiCnbV0FAR65s-2BrwpR06Zjlocb5S7XRqKcH1LfZc8QcZs2-2BF=
eRw-2F5porvksUR0VO7qdfRbFoMQbT09BEFaFkJMEuDPBJsJTyjd9QsJmTFhzTpjiuefNXIURte=
Zx5V-2Ff4K-2BuSCH9s6t0PhvzlLkwNcIpWiqJRXt-2FP0O2alLNXG9fQF4YSAc-2Bw2b3-2BaY=
Zgih5reDJejOXfYax3iukanlbjgWtuA0DXDboUtUyZL2sIka74NVg9eHFyLWruz46KhbtchBmw-=
3D" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"height:1px !imp=
ortant;width:1px !important;border-width:0 !important;margin-top:0 !importa=
nt;margin-bottom:0 !important;margin-right:0 !important;margin-left:0 !impo=
rtant;padding-top:0 !important;padding-bottom:0 !important;padding-right:0 =
!important;padding-left:0 !important;"/><img width=3D"141" height=3D"39" sr=
c=3D"https://fonts.pitchbook.com/newsletter/pitchbook_morningstar_logo.png"=
 alt=3D"PitchBook"> </a></td>
            </tr>
            <tr>
             <td style=3D"text-align: center; font-family: Roboto Serif, Ge=
orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa=
n></td>
            </tr>
            <tr>
             <td style=3D"text-align: center; font-family: Roboto, Arial, s=
ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, =
VC and M&amp;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-2BaqM7ONnvsnswouzViDWkFY-2FasK-2F5dSJB9nRThIEK-2FqTWfld-2FKQJla-2F4KAp=
Q-3D-3DHfmZ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m=
8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCp=
vHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA=
9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhM=
lnLjK4SoNA3rhBHVyLF-2F7bjQhQsDp95LzuLbUMd1RwzWilMC0UtFcc95dIoTQTRKvrzaIT9lz=
jQesbl4RhuLPqnrz56Juor4shuYrwPllgCCmr27P51SM8CvXLKNF6795Mz6ilAVvmeYID-2BccM=
wid5OdAknWequQsGe8LAsposKlAmu8mUQhgMXCTIaRLA1AmCnkjFq2cJD5LdbVRm6QnmYiNTDBu=
V4aJ5sYaytDnfRAnLgdMwoJiNroEU7Zd34oIxCho0tRFcpykacULX8BI-3D"><img width=3D"=
460" src=3D"https://img.pitchbook.com/ads/ad4515/Svbventuredebt.jpg" alt=3D=
"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: block; widt=
h: 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">=F0=9F=
=9A=A8 <b>AI companies with the weaker business fundamentals are trading at=
 the highest multiples, our data shows.</b> Databricks scores much higher i=
n quality than OpenAI, for example, but its valuation is less than a fifth =
of the latter=E2=80=99s. Read why in our <b><a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzViDWkFY-2FasK-2F5dSJB9nRThKzEdfljb5pYRYQdEIQZafg-3D-3DzoYc_I3w5d9c0=
1gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJ=
gumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJa=
bwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a=
6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEJ1aN6JuPB7w1dNiQIWbX=
yDGKCxUqIM0uQ5W10-2Bkjkqx4iEveG2ix-2Bt0iGro4-2F3tewup-2FtGEeu7tO8EMR86xW-2B=
B6Spsmu-2FIrFlSCqmbVlEX9IJ-2F0jzN-2F-2FS3KaEh7WK0vJxXhxicQGnW8NiFeMOr4LrLvc=
ZGfDMK3dSNH-2BmLtCKF-2FDli6x0bPYj5jpp-2BJIzsDS-2F38TlCCi04pV1UFvftOQVy1-2F3=
5sO1CgKQ6Uo-2FEdlG5U1A6b4OksSNJzJ7dJTgzPD-2Fcr5vWlViey3mirQGD58I-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Ranking the AI Giants ana=
lyst note</a></b>.<br><br>
                               =E2=80=A2 <b><a href=3D"https://url6380.news=
.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzWVut7-2F5GZgpJcfMzTJfUavXBdowvfwsduY6EJB2RXA-2Bg-3D-3D8ykq_I3w5d9c01gkD=
8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumq=
ezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJG=
e4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-=
2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhFq1sTBiJrrhSTQ8-2Fv-2FGKu=
qpXvL31h-2FssgKd4AsVbr9glcBNf3VaChssfv4BwuRB0lZSALvEF-2BLSKO3IrhUGjsApEmscG=
JnePxUS-2BxO6ooK-2FwDEpBlTYbHaJjUoZiDg4qMRyr-2BckhNfwu0z4SH1zZwFoG5-2FZ2uiC=
2d09ZDxO438gJJQqzlytHizo73EHB8deWBvhcFOKvTpCd4OA67eb-2BucAonKnz7CoIq8-2FUp-=
2FR-2FJDzND79E9tqfhbwAMEgPNh4VUKwgLFLGYMgYng6EfVGWH8-3D" style=3D"color: #1=
D5080;" test=3D"">Sign up for Capital Pool</a></b> to get weekly commentary=
 on what's driving LP decision-making.</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">&nbsp;</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_578928" id=3D"n_578928" 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 sun is setting on private =
debt's 'golden era' </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 =
Kyle Walters, PE Research Analyst</i><br><br>
                               Private credit's "golden era," supported by =
floating-rate debt and anchored by the highest rate-hike cycle globally in =
more than four decades, is coming to an end.<br><br>
                               A yearslong period of PE-like performance ha=
s fallen to mid-single-digit returns. That's unlikely to improve in the nea=
r term, our latest <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJ=
cfMzTJfUavG1zu2aEzv6bogjLbReW2Xw-3D-3DwuGe_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRm=
FDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4=
Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBi=
gU5f-2BYis3RrRq5zUTNPRo7niUxYhOCKWHiFYG7aJn-2F7igMODsrdkf-2FtLa97R8yjv764pv=
HH0VS6HSdHn3aVtUaszwAlPQWPHQvRQdiPo81DY9CsJUQopRHkA5PK3auy-2FSws6R4qa181LK7=
9It6h5zZEyUeakCy8aqRxnJ3fUDpMEZwYy7EqMaPSIyMVkmkJnH0uYZGMhU2zYzBtpptrltUh7s=
x3SsObvuoh-2FNzSLCUrqxD0LmceoKxbbF6-2Fw2jTjj6wp475PpHkDL8oeJFADW3YNL483nsTk=
fPqp9L7EkoJndahiQA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">Global Private Debt Report</a></b> explains.<br><br>
                               Fundraising is also under pressure. Retail i=
nvestors have driven the growth in the asset class and, until recently, wer=
e expected to power it in the coming years. Recent spikes in redemption req=
uests show that evergreen funds may struggle to give individual investors t=
he kind of liquidity that they demand.</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-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUav2u-2BjI=
c69Hmd6IhqsabNHwg-3D-3D8dFj_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjV=
pPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJP=
xfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq=
5zUTNPRo7niUxYhCHajvsZY4TDraoy-2F3ogTR-2FrZdkMcBhYy9n5nMTRGTV6xpRSAHUdf4wGR=
sXrKUgRe2g7vsFC5-2BzSHWr058-2BvWSz5NLnQ2AEuftCUhQCZ4GLdDaa3Q1MKvo4kQUnxbvt4=
CoO4sCNocShdjWkzuhuQGIBdL6iqSGO-2B98C9G3jeOurLq-2Baat0IhhNLg9lK9YQZCTX0p9Vx=
dXzEdVsX3iWx4t7rzlts5nq65gyPcHLw3UaW0-2FxvRYrhiz9os98luGds0bdyLw6vLWeFAVOai=
6FQuvFI-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https=
://img.pitchbook.com/news/73415.png" style=3D"border: none; width: 100%; he=
ight: auto;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</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">Beyond=
 probing liquidity, investors are increasingly focused on the underlying qu=
ality of portfolio companies, both in retail vehicles like nontraded BDCs a=
nd traditional drawdown private debt funds.<br><br>
                               Managers now carry an uneasy burden. Private=
 debt funds still have plenty of cash, but underwriting scrutiny has increa=
sed. In this environment, GPs must lend selectively to high-quality compani=
es and monitor portfolio risks closely.<br><br>
                               Experienced managers are already repositioni=
ng toward infrastructure debt buoyed by data center financing. Regulated ve=
rticals like healthcare and financial services are likely next, where AI di=
sruption creates opportunity rather than risk for incumbents.<br><br>
                               The golden era rewarded anyone with floating=
-rate exposure. What comes next rewards something harder to replicate.</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-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUav2u-2BjIc69Hmd6IhqsabNHwg-3D=
-3DWw4d_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pzs=
FZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8=
CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEu=
ZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhIpGYW=
QDK9lBbJqG3I02OKkNytbNzCP-2Fkd9DfH-2B04PxFx6HUCSAE6h3mE62918-2FZB8X6E70lN4t=
Gz3tqnll5-2F-2FurfjveiCNYqlySpVfinyUXYBb-2FO319-2Bzi9ekDdI-2FkpWu-2F9fck9tu=
SGBDvBxcxhtL8ECOJu4X2B-2FFYyvcAlYIC41WNC3-2FLYEiADQF2z6wGZ-2F6JTjVNtbECBIO5=
GwYKujXPdy5-2BFIzV3rySFksxXic63Edd91KzO22xntZpeRCEdc-2BVAH9M-2BLYa1fvSmJdNw=
2tY-3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; t=
ext-decoration: none; color: black; padding-left: 3px" target=3D"_blank" un=
iversal=3D"true">See what=E2=80=99s driving private debt's new era<img heig=
ht=3D"24" src=3D"https://fonts.pitchbook.com/newsletter/arrow-right.png" st=
yle=3D"vertical-align: middle; margin-left: 8px;" width=3D"24"> </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 25px; line-height: 25px;=
">&nbsp;</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 lang=3D"x-content-area" cellpadding=3D"0" =
cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table lang=3D"x-content-area-main" cellpaddi=
ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td valign=3D"top" align=3D"left" style=3D"pa=
dding-bottom: 20px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;"><i>Related article:</=
i> <b><a test style=3D"color: #1D5080;" href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zWVut7-2F5GZgpJcfMzTJfUavQJqYIt6upN7gqdec63mHEg-3D-3Dv7lL_I3w5d9c01gkD8gLzF=
EofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJ=
yDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2=
BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5eb=
e4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhBxcHf3iYAakHjYe6yQx3hbzwJWFqj4=
7z9ebHL-2ByaO2o-2FOFpasxum8osJN-2FLxAA-2FvU2mN7r6uLmVbtwot93FIIvjJhk-2FyHNA=
fd-2B3XZ1W-2BdA6-2F0G6LUy1Z2dsjwr5q3p73L-2F2FwT1rUT1kVgHWRsoAeNDGxUctAWod1T=
NBxdObP45RISD3hfdFDiu6VuJbYEXNzSZH1wud7VgmeCheOUVgrge3wap6CkBpJXjS70ZpBCFib=
wZHQR3nRqM6-2FTXQEgJZ1pvCKsH1pUkcr-2BH-2BpOYUB4-3D" universal=3D"true">Febr=
uary Wrap: Software slump drags leveraged loans to decade-worst start </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">&nbsp;</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 Formidium</span></td>
                     <td style=3D"min-width: 20px; width: 20px;">&nbsp;</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_578796" id=3D"n_578796" 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;"> Shaping the future of K-1 deli=
very: How AI is transforming fund tax filing </span></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table lang=3D"x-content-area" cellpadding=3D"0" =
cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table lang=3D"x-content-area-main" cellpaddi=
ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td valign=3D"top" align=3D"left" style=3D"pa=
dding-bottom: 20px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;">
                              <table lang=3D"x-image" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" align=3D"right">
                              <tbody>
                              <tr>
                              <td align=3D"right">
                              <table cellpadding=3D"0" cellspacing=3D"0" bo=
rder=3D"0" align=3D"right" style=3D"float: none;
 padding-left: 15px; ">
                              <tbody>
                              <tr>
                              <td style=3D"text-align: right" align=3D"righ=
t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUavoZ3kC53oiM-2F=
0YtbwTRlslg-3D-3DSl5h_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb=
dWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGk=
svZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2z=
a1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNP=
Ro7niUxYhKZWuxNTraM3Zl8k9YqLNA06hOHQMRK-2B8sjpql6vMYv8N5ltnhsoXQN-2BZd774TX=
T85QKrrlWegFGswE0gL-2FlOSqABAn7qrcqoxez2hTwKhB7f3-2FNKfXYtQBX1aUgC1tJ0wUCY5=
Hf-2FEg-2BzIu4mI7HMFQbgmS9ldhiuHEkoTQhPvG19GxYG7mqdBtKNC0oIFcK7rLXKbzrBocMT=
hFa4OJzfHE6vNZfphhk3MYWi6KDz-2BVAexEKRafm4LoClQLHtkSO-2BjgSzP4rUM7UFQFnbLZa=
RWw-3D">  <img src=3D"https://img.pitchbook.com/news/73330.png" align=3D"ce=
nter" alt=3D"" style=3D"border: none; width: 100%; height: auto;">  </a></t=
d>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table> Preparing partnership tax returns fo=
r investment funds is becoming more complex. Disconnected data sources, man=
ual K1/K3/1065/1120 form preparations, and last-minute reconciliations acro=
ss entities often create operational pressure for tax teams. <br><br>
                               As fund structures scale and LP bases divers=
ify, many managers are exploring how technology can support tax workflows w=
ithout removing CPA oversight. AI-enabled platforms can help automate high-=
volume tasks such as data extraction, classification, and reconciliation wh=
ile preserving professional review for allocation logic and compliance deci=
sions. <br><br>
                               Formidium has applied this approach across n=
early 1,000 partnership returns processed annually within a SOC 2-certified=
 environment. <br><br><a test style=3D"color: #1D5080;" href=3D"https://url=
6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUavoZ3kC53oiM-2F0YtbwTRlslg-3D-3D6WQl_I3w=
5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe=
7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViI=
GZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGC=
IQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhI2So8U1XSyaa2H2N=
ehoAaBxH4LNyUe5Yq-2FPuRqa4dm37tz-2FZRl67Hj-2Fa-2BHglZH3G7z639mzvcSNq5CM2Y6i=
9bHZ9lkik6TGKuntEKJooQru885IdrXftq-2BtUgU6wz0puZZozma4JGfh9m2YtuVrJdm9iHkSy=
a3JuP-2BZJ1icsxzuyvPtE4Rho-2FJ-2B06bxFUmHpwEgQKAVBFOF8KTtMdiXv-2B7mgahbZnAg=
xdGOBHvK6FlZz681oTtkfV-2FDUh1PawwBF4ZmQXigIOD34ydX6cZgBJ8-3D">A deeper anal=
ysis of this model is available in the white paper</a> <br><br><a test styl=
e=3D"color: #1D5080;" href=3D"https://url6380.news.pitchbook.com/ls/click?u=
pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJf=
UavcL3tXNYNvEIcV0uF4rYYgA-3D-3DTflb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf=
mzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl=
4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkI=
vaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2B=
Yis3RrRq5zUTNPRo7niUxYhGI-2Fs8-2Fauw8Aye4TSfUfW65mO8DbsUOjukGq-2FBclIQ61GuS=
zJplk6BUPq2Pmvitu6VY0Ziw7XPcxHYMoQkAWUEQGpEgmjUr7g9cLbILrJo6l41-2FhSncxhvIY=
6dGOJHelbIPWnTEljr00vnSR9j8y-2BWC7KZckdHAwMhRFaUOe59Ba6CoTPMs3FHVO-2B7uG3F3=
l7y84AgKrS-2BkkLaZPGmQVNtF2NiUfB8StBKtM7swyohHHjLLdsO3XY2ccHYvLE7-2BKKF67J5=
MCaCNsaDTWixReDMg-3D">You can also watch a short overview</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">&nbsp;</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;">&nbsp;</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>BlackRock's CEO called for a Social Security revamp</b> and warned t=
hat AI could accelerate wealth disparities, in a letter to investors releas=
ed Monday. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUa=
v1f-2BqYLr4IFB-2BVoI1RoEEZQ-3D-3D3mNc_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF=
Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoor=
dl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4F=
kIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-=
2BYis3RrRq5zUTNPRo7niUxYhFmXtwTRcQ1iZgertLylhuIIj6AEknmTOwvvLralwArpl-2B89d=
3xEcwu6lvYlRwWBdDlCcouJGHd2s9GsMPRnFmohnl4hYGRBIC25QCD5ByLXCLOU5M6JskZEk-2F=
GMDwiald23oiCKQEa-2FL-2BfnsDi6AwBz-2FNTyjYcJsxhI0lz80HnkMJawUCi3rStDYy4vQJL=
zbpaEsI3V1E1jB9ArSoh3Je5NMSpXBn5MzLsdqmAPEMLOn04-2BKu9wq0jLjQOtq3xtB7BaOtNM=
ZBVXaCTyus9EolA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">=
<b>Read the details</b></a><br><br>
                               =E2=80=A2 <b>See which PE investor closed th=
e most deals last year</b>, with 342, and which VC firm was the busiest wit=
h 433 in our interactive <a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZ=
gpJcfMzTJfUav5tpakeBubebtpU2Pa7sUhA-3D-3DhLgA_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw=
arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QM=
fRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZ=
Wf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFe=
tBigU5f-2BYis3RrRq5zUTNPRo7niUxYhGrnx0vmnizy9QMCtD5QZNui3WdLHNF-2Bg-2FedDKD=
hvZTU1Bb0RjeS5sLih-2BHJzGthPn7RIlIPcS71E7D090JxEKxVc20Ng1LDeicIirhCDGE20I0g=
3YAD5382SJ8iDxmuIeIkLdlv62KLTEkqpTUOvOiBkumwa38OcqAH9MKFNqQurJIIdQY1ZWh64Xr=
AKDQZ4M1nf3Rnqee7X9MBFZTIVrfVdh0r90BJIaFICVDFOWX2RMUMEVKHaOj7pASiN-2FIBuvwn=
tzMEvacf9kanXpjQDmU-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue"><b>Global League Tables</b></a> for 2025. We rank the top investors, ad=
visers and more across the full range of private market activity.<br><br>
                               =E2=80=A2 <b>Private credit secondaries will=
 likely become a buyer's market</b> in the coming months as funds turn to s=
econdary sales to add liquidity in the face of surging redemption requests.=
 <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfUavCnlT-2BPvvJ=
q4MfgkEtAaLnQ-3D-3DQcyX_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPw=
GksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL=
2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUT=
NPRo7niUxYhHxSJAtEEnH5-2FQWYeFg-2FvE8fNdZgUdQtycZG7V-2BFbwIEXj7Tmc0DtUMYUgN=
JGflTSvOIyybc60cxliSxJxkdGRpVm2vLWxIt9ydJgcaw50sv-2F0BI5nI12ZgThq9CAB3GVehI=
p843jC-2BfRQIUDhGAY-2BsyagsNGpLilvxNJ7WoS-2BDGFztf2n4Es1tshJdXfbilmWZXxsd7i=
KEey4zAYgDvFdV6jwJUzx-2F-2By9CoGHCsFtguJGYDK72Rjudjn-2F4GBvBK-2Bkz3nCn-2B3Y=
dh76eBL0MRzDc-3D" 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">&nbsp;</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_578921" id=3D"n_578921" 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;"> MENA PE faces reckoning as Ira=
n conflict endangers overseas appetite </span></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Emily Lai, Private Equity Reporter</i><br><br>
                               PE dealmaking in the Middle East and North A=
frica hit a record last year. But the core growth driver, foreign investmen=
t, could be tempered by uncertainty over the war in Iran.<br><br>
                               Overall, the region saw more than $22 billio=
n invested in 2025, increasing 28.3% from the previous year, according to P=
itchBook's <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up=
n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVut7-2F5GZgpJcfMzTJfU=
av0CnEvvaVwct03ywgxGJMHQ-3D-3Dk7Jr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfm=
zy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4=
h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIv=
aUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BY=
is3RrRq5zUTNPRo7niUxYhBM8u4nhvCcABjJrLMnnDIdOQmHFIVPwlVB7AwuHi-2Bp2oX2JvJfh=
bwcNvmWaaQQjML9aa-2BVcXJCiEfODZ-2F1qccSJqtk6sfHhpJjZf-2FEmp1K6XAKdbwM1ZDj5a=
fBjCW0TDRwiZNkMroL2Ahhb5YQzTPy4oTi-2FfAiH5yV3GvoLjwI9kCd4LPsV6QzDtCSHujpESD=
DuNlJReWyWnzwEsGg5rnvmrpUWQhg3xNI05KJSXQIFgaN3uOPpwYi3WKYg4RbltBeobaSfXN3uY=
Fsg813HdLI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">H2 20=
25 MENA Private Capital Breakdown</a></b>. This is the fourth consecutive y=
ear of growth for value in the region. Deal count also rose 8.7% last year =
to a record 199 transactions.<br><br>
                               While governments regularly prioritize domes=
tic investments, overseas capital remains a key pillar for the development =
of private markets.</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-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUmbKJgh3UU=
IU9Z0Xa8-2BU53w-3D-3DQetg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpP=
PwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxf=
TL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5z=
UTNPRo7niUxYhLuK0xqpqnQUsVkLPW9gQBye2aKjrBV91u3IJSGOeHB-2BdIwc-2BXm5mn8eHBz=
sa1Ws4eD0O9xP1I35bgAGVzhkab-2Fa9qVkdq4dB4hU-2FtfpJTj7gdb5lD6ewgcUaAOhd5uwBN=
R3JcEEH1agDgtK7mdXjoAtwF0nBRSDL2e4UEMMxFLqAPYwep95y4N0lu52XUTVCLOSma0W3vJyl=
EnLuFOmJLEkESbqnX04LTpI1JV2QZhqKK9E2-2BjOwNk-2F4V8m6kiw9WGDoeiEc366omEp4MJ2=
DtY-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https://i=
mg.pitchbook.com/news/73406.png" style=3D"border: none; width: 100%; height=
: auto;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</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">Cross-=
border deals accounted for almost 70% of all PE deal value in the region in=
 2025, a level not seen since 2016. Foreign investors participated in =E2=
=82=AC15.5 billion of investments across 112 deals last year.<br><br>
                               While there has been clear evidence of growi=
ng interest in the asset class, the conflict in Iran has cast doubt on the =
longevity of foreign investors' appetite.<br><br>
                               President Donald Trump's announcement of a f=
ive-day ceasefire for military strikes on Iranian power plants and energy i=
nfrastructure signals that the conflict may be de-escalating, but continued=
 uncertainty in the region may cause deals to be pushed out or cancelled as=
 investors adopt a "wait and see" approach.<br><br>
                               Governments in the region well understand th=
e importance of foreign investment, and several MENA nations have been taki=
ng steps to attract more international capital into their local markets.<br=
><br>
                               Saudi Arabia removed its Qualified Foreign I=
nvestor regime in February, allowing all foreign investors to directly buy =
Saudi-listed equities through licensed local intermediaries without QFI sta=
tus.<br><br>
                               The benefits were expected to spill over int=
o the private markets, as deeper liquidity makes larger IPOs easier to exec=
ute and public exits more viable.<br><br>
                               The United Arab Emirates also launched its N=
ational Investment Fund in November to encourage incoming FDI through incen=
tive-based financial packages to support the implementation of the UAE Nati=
onal Investment Strategy 2031.<br><br>
                               It remains to be seen if the political uncer=
tainty will jeopardize these government efforts.<br><br>
                               Some notable deals last year include KKR=E2=
=80=98s $5 billion investment in Dubai-based data center operator Gulf Data=
 Hub in January. Permira and Blackstone also invested $525 million in Dubai=
-based property portal Property Finder in September.</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-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUmbKJgh3UUIU9Z0Xa8-2BU53w-3D-3=
DPR7z_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZ=
U8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8Cq=
DdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZc=
ugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhOUhsfMF=
dLySCovS4peAmG8m933vBoYoNdwbi0rV0jl3xI1dO1kFGU60-2BFONuCXhzzLjLSIZl8D6WtCT-=
2FGzX5plBR6ztp-2FIuq1TfuvZmSQSSwsm-2FtKeqq2wwBAeiujPwYppST6UNs-2B06lnC-2Bx-=
2BaoYhNj0-2F8ya8Rf4AfKznF4-2FcMiNbDU1mF3GhYunYSECIViLx-2FVW-2FGlggVLYWM7KZ4=
06HVBOw7XKY5jIkBdTicyl5G-2ByNzkF-2FT1zbojw54yk273FxjADhQDJZeppQlVAqlWu3M-3D=
" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-de=
coration: none; color: black; padding-left: 3px" target=3D"_blank" universa=
l=3D"true">Share this article<img height=3D"24" src=3D"https://fonts.pitchb=
ook.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;=
">&nbsp;</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-2BaqM7ONnvsnswouzWipCM6HitV8kqw5=
0ei5wmUEZpaIaNUu7a-2BjLJR64q5Lg-3D-3Df4eh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk=
xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmF=
Doordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4I=
nn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBig=
U5f-2BYis3RrRq5zUTNPRo7niUxYhDTdVE3761Y7ceFwef69Io4cfiK42Z5lXRjKOaYWS8pi9JZ=
pBTodbiwQPmrmmrM18t-2BuVmNH8DGpPwh2UPM187sLWVT76DXuIFRIdGEs6r8zsUpZ-2BCZeS5=
PSiHfIXg9r2AH52-2FI-2BCmRxox58J70-2B-2BnLEryQzYUVVUtB2B68OGoEsh4nhpNmbyFqQT=
3DMcXjISN6feWYpYNHTzvWgkhSxhBM1-2BVUoDyMHz1yPbKIAbzYGcyVq8etvwL6p7o142XuXTH=
saaJDNoyBBOWy-2B8ic-2Fu2g-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">War puts Middle East and North Africa=E2=80=99s fragile VC recove=
ry in danger</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">&nbsp;</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;">&nbsp;</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>There's a quality gap between A=
merican and Chinese open source models.</b> Theory Ventures' Tomasz Tunguz =
comments on the open model ecosystem empowering startups. [<a href=3D"https=
://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUG65pYUJvEahz9XeIZI-2BK0g-3D-3DTKo-=
_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKl=
zNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsy=
vViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6=
MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhLE4vCaWIQrOy=
tBGEwASnFdMhQk-2BzaGIKjdP2fCByGpSdfXSbmIUrGFL6rJi0hl6vljMsVd5u4jIGdrDjvzN56=
83SR-2BPCNvnmdIqMy2baDpbMxlkqdALChhyJhGGzbweRWfV6DzYPzFecaxrU1xca72RtJIyrCH=
pUoRupFl-2FQXHTDYMlkcsg35r4BsNjexgOjU1isBIP-2FEHhl65F4DftCNY8y-2BIqq8FpHbxe=
QZpmV2uMtKbRjmaQ6BQfBuKzGr5fAenJaq54Coykwzz5barCZVQ-3D" style=3D"color: #1D=
5080;" test=3D"">Tomasz Tunguz</a>]<br><br>
                               =E2=80=A2 <b>America's air-travel system can=
't get a break.</b> A budget standoff in Congress, rising jet fuel prices, =
ICE agent presence at security and now a runway collision at LaGuardia are =
putting strain on air travel. [<a href=3D"https://url6380.news.pitchbook.co=
m/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWipCM6Hit=
V8kqw50ei5wmUPPPN5h5Bj97eFIwAwiykKA-3D-3DqlRj_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw=
arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QM=
fRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZ=
Wf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFe=
tBigU5f-2BYis3RrRq5zUTNPRo7niUxYhNnM0-2FfwflcN-2FLAvLZ0kl5qRM-2F1ud-2BOSDZ4=
H9Gzdko-2FeKZwC1bqNyf5kMaQGYmZ-2Fc9frPrxz-2FerL4ZuEO6BL8A2IOJ7rj-2B1rTcC4SA=
W68pkE02d6n15RLc-2F40gl-2FUiK-2FNzmllRiIM079bJbizyFeiM2iaYHl-2Bmas4rEEShzyW=
poOUhCyHN8iQ4LJJ6syyaYBPqob1D4I4Yw9F7wAX1b85fr7ViZkTMd7lYpVbvmuBdkFCap9QnZO=
Yz-2BqU8uX1Fl70X-2BTs1CP0yCNi775Zh1tkjs-3D" style=3D"color: #1D5080;" test=
=3D"">Reuters</a>]<br><br>
                               =E2=80=A2 <b>Mistral's CEO is calling for Eu=
rope to impose a revenue-based levy on AI companies</b>, compensating creat=
ors and ending the legal gray zone around training data. [<a href=3D"https:=
//url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUFHZ2bW146ahN02xVsH-2FTrA-3D-3Dm0YL_=
I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlz=
NTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyv=
ViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6M=
BGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCS2ADOF18QnHN=
VsYJJFvNRXsh0z3U-2Bvu0FNjsXCdc5DsZoguHjCEHLF-2BW46WT159TjpkSj-2FYp98qEl-2FH=
E7z3B8h-2B0L3QK8mvYBC3AYOpKCnvIrytgNWG2oiaAJ0Da4VMoBvMydf4u3ju5kjOOhVliJZdJ=
FSMH9yIXGGzxGx6iX3Up5rN4jLgsVwQeCghag-2BsRzroZ7gzYbPxCxBkA81if0QLAHIqtcO29x=
QwvH6cUIdge-2F2ajuYjr1o-2Fy8uzwFPa45u0rI6fTNc5QG9l-2Bae1EI-3D" style=3D"col=
or: #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; 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">&nbsp;</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-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUd2U1iL-2BkGDp9IPBbcDGuXQ-3D-3Da=
qbF_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8=
nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDd=
jsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcug=
ZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhGODoA5ZRf=
9c6pmJYt5NjRA4ZCM981oxEd3QD4APZprg1ZY317xw9Xd67rDFU3I-2FfqF6lRLqgibOuYosK2L=
pXswXi0Kz5vzemssVCv5AGypB9LDKTey-2Bqza47YMblI-2BDUkwmMEnBxfxF7gLpLNU80YackO=
RctfsH7bbq3chYKFCsXSi5y01oxtpRnnv-2F4M8LFxX14jlKxJiA2ky-2FMN7hPcYlimfLBZ-2F=
eL8KIRx-2FaPOYKZJ3dJEiUNLOhX9RN3VqAS93Y2dHIy-2BSsEeR-2BFhH-2FaqM-3D"><img w=
idth=3D"460" src=3D"https://img.pitchbook.com/ads/ad4501/Monroecapjan.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>
                  <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D=
"0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38;  min-wi=
dth: 100%;">
                   <tbody>
                    <tr>
                     <td style=3D"padding: 10px 0 5px; font-family: Roboto,=
 Arial, sans-serif; color: #78766F;">
                      <table lang=3D"x-counts-title" cellpadding=3D"0" cell=
spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
                       <tbody>
                        <tr>
                         <td align=3D"center" style=3D"font-family: Roboto,=
 Arial, sans-serif; font-weight: 700;
                                        font-size: 14px; line-height: 27px;=
 color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr=
ap;">Since yesterday, the PitchBook Platform added:</td>
                        </tr>
                        <tr>
                         <td>
                          <table lang=3D"x-counts-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t=
able-layout: fixed;">
                           <tbody>
                            <tr>
                             <td style=3D"display: inline-block; width: 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;">
                              559
                              </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;">
                              2241
                              </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;">
                              1181
                              </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;">
                              19
                              </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;">  <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzWipCM6HitV8kqw50ei5wmUqsnyOfCjLf8DjvfKYsPXnQ-3D-3DtGx=
a_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nK=
lzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjs=
yvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV=
6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhNmV3Mx1ergR=
0P7ruyOQAaTDOs5vq3ELzYKSM4w5ALnLMKsk4ZuNUWKVxRlBSfRlito3mdI6fI3GuZ5XEppAX6J=
HOLh9cYkjQWmfJUI-2BoYluW3N7S4GV3fkUpTvd2XzzJN7XpTyWhjO2xvV8-2BCAstVKbcCLgrJ=
9n-2BkZi6sG1P7p4O3FhfrDQm-2FuDkBdv1naauHWMW8SIeqPDdn6jFBRJWDsT2af5Z-2B-2B9M=
ILpFdtPngHtE-2Bg97OcsSbs81Ydc-2B-2BAEVEmHx9SInQ79Gsdv6lS3SvU-3D" target=3D"=
_blank" style=3D"display: block;
                                                          font-family: Robo=
to, Arial, sans-serif;
                                                          font-size: 12px;
                                                          color: #000000;
                                                          text-decoration: =
none;
                                                          line-height: 24px=
;
                                                          text-align: cente=
r;
                                                          padding: 9.5px 21=
.5px;
                                                          border-radius: 99=
9px;
                                                          background-color:=
 #F79B3E;
                                                          width: 150px;
                                                          mso-hide: all;"> =
Request a free trial </a> </td>
                            </tr>
                            <tr>
                             <td style=3D"height: 25px; line-height: 25px;"=
></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td height=3D"20" style=3D"line-height: 20px;">&nbsp;</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_578975" id=3D"n_578975" 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: 2015 Vint=
age European 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: 64.53048509123276%; mi=
n-width: 64.53048509123276%; max-width: 64.53048509123276%; background-colo=
r: #1D5080;">
                              <tbody>
                              <tr>
                              <td align=3D"right" style=3D"padding: 0 4px 0=
 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
 sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">14.50%</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">22.47%</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;">
                              0.86x
                              </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=
swouzWipCM6HitV8kqw50ei5wmUw-2FCpa-2BihjgIZBPNTqtPkkg-3D-3DOdFB_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgum=
qezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJ=
Ge4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY=
-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhASp6CxKMGgMBg9Tb1oo8iaPy=
HLIloIAN5yORpIxzYwBvhShMdPwyjjyWTyfaNyEyfj48O3epqYgPYKvXXIIs2b1injzsP-2BNFX=
MlBbfo-2F6-2BafWQSSqt9cRFIfNGFzfCi-2Fa3TneUsw7tmjQuonIgl7J-2Ffaqn0zoMtz0moC=
X-2BhVMe7JfnhUnOSntS2oEyQe03pePyV5PlSVCxdgaTNYnvP2xauPfU9WtGmxMuVXxG0bgQKB7=
F-2BMtGCbeaL4yC3DrLM87TrYbbHRi7bELS5SwGQhZ4-3D" style=3D"font-size: 14px; l=
ine-height: 24px; color: #1D5080;" universal=3D"true">Index Ventures Growth=
 III </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              <tr>
                              <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
                              <tbody>
                              <tr>
                              <td height=3D"22" style=3D"padding: 15px 10px=
 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzWipCM6HitV8kqw50ei5wmUaOu9O4VhbnUlgUnB9EzWJQ-3D-3D-DNt_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezP=
zJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F=
-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5=
ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCix8-2BBtof6BlLPJhqmqkYNQ416=
DSBMdPotHQIdBIr1wy0C0F-2F1engBML4tXXeYR9zSruFFNKzUMt-2BNPNjcDjY5VOMn-2BJlZj=
CFbdvGEVIEUz-2BxO3ZnAWtyc1Tmh04pOVACD-2F9G-2FKEvGg-2Bi-2F4kez6STgtJpL-2BdyD=
Fb-2ByNSlfhP2cJA1zsXZKG1-2B4mpxtE9gTcKZNltVPnyLcVSa8SpSsE8ADAwyd0raaLNEyDF5=
IKabXwOactPkuUcuizZ9vxvVKM-2BJedMDk0JeIN29N4Vwi4uLA-3D" style=3D"font-size:=
 14px; line-height: 24px; color: #1D5080;" universal=3D"true">360 Square </=
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=
swouzWipCM6HitV8kqw50ei5wmUUX7W5DrhCI6H-2FfAADBbfdg-3D-3DQ_mQ_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqe=
zPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe=
4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2=
F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhKLaTfgHjWXqXtewzXO45wtlTOg=
bEzv8QucMMiGr1CyOYGYvkk0dROq7liYaMX1dWbtSaHIBwk9v0NTv0NvrbAtpdZoM1IYzlUvdjv=
cORl-2BZKbBCrT2t-2BGT06U01EmuzL6rIfqv81CWBMrYoHSIRKtxR4PC74KLUsBUx3GE9479nN=
PQD4LRVhE-2B7wX0NIPkwcgJ1q4H6tR4ktipsH54WQ5t9wqn28uk7jHygGwy0VaYzxDj-2Fzr3O=
RqLMW0B-2BLHOhyiq8nkAVYfR8ZKDQTTk1xX0-3D" style=3D"font-size: 14px; line-he=
ight: 24px; color: #1D5080;" universal=3D"true">Pi Labs Fund 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-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYex8Vla=
h6KZtpbE7uPyExhhWg-3D-3D41zG_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3=
t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWj=
VpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJ=
PxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrR=
q5zUTNPRo7niUxYhHyTrczRW8hn8Znry8OHgN4BG-2F8B0Gsl6ynNfrv5mU2yngbZoHNpng625n=
UF1XGzq3txio29-2Fv-2FvaDfEDESU8mSw2DW8s6Nly2xxleeFpItfoiRMjN9cn6iQ7UxkiOnti=
ZTeBIBao8molFR4QLZ9yCi6yf83TiodxANMlqEQ1pUE2LTd-2B0-2BAAJi-2FH1sRebuhKknkX9=
wmLFTRx2uakdaPtuiubSnGwylVTHJ8Us3ggRyjwRM6ZUOy4b3LJLpYhjyGMM0XByqUIseD13bbe=
Ps6sqo-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: #1D5080;=
 font-size: 14px; font-weight: 700; line-height: 24px;" universal=3D"true">=
20 Funds in Benchmark&nbsp;=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-2BaqM7ONnvsnswouzWL7XXgt=
7gb-2FUu8KeRyLYexC5yS7-2BvAorA8AfZmkLUVdA-3D-3D3IXn_I3w5d9c01gkD8gLzFEofZR-=
2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1=
jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp=
0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQ=
kIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhHPo7fcBjvAV6UMvXn-2BFyA4WBui-2B4bJfS=
VeIxa1ydx86BoS5lCBM5gRiyLtNJ9mkANaUmAHsycN2MYr2gIpAJpVjwdDr4h6IwOLltFb5EIad=
0zkHL3HtvKO1-2FSKN2AlWb3CxzG2oxvIE9m-2BYP7d4CLnqC3Baz6BMNqBHXxNySq1rHxPJtuz=
DtRzq3DTcBTT6Fom6wPSxRi92AhuwVgIGAZ6zhL3G17UL-2FmUI6JTnwUd5n795yFJktVB4yXf0=
w9838D5SHWunVnysPufm-2F8zGGf8-3D" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true">PitchBook Benchmarks</a></b><br>
                               &nbsp;</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">&nbsp;</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-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYexy3cMnrWjbpJSzsj5aq2maw-3D-3Dk=
hQZ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8=
nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDd=
jsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcug=
ZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhNwbeE82j5=
SuGaYXZSGHBGKhr9sfsmayC04cfhbKTywU1T6EywfjIZ25qG-2BHT7fR6dq-2FDZ8V8z6xez3Sb=
GjEucL3tXl0jLZ7ZWApiDxNbEIqTZySt1JYiyjDauhnZXyBmy649-2BioIeWkt9hDZ-2BuCrmN8=
3NQl9qXOoAgtgkOxyw6c1AjPku72MXEqEIavEmku-2B2OhmiJjmFrTUOJ5ymNxuP8CvP4QcoIwM=
7goHrjqz4FOOqSjCh52pWVvsW8Y9XfO-2FrBx3sLwhqewO7coxLCEDfQ-3D"><img width=3D"=
460" src=3D"https://img.pitchbook.com/ads/ad4498/Churchillhbamarch2.png" al=
t=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-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;">&nbsp;</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_578897" id=3D"n_578897" 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-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYexsw15j=
q8r2I9hUDQIJZparw-3D-3D-RLZ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjV=
pPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJP=
xfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq=
5zUTNPRo7niUxYhHTIUV7K07iiiazbxDMSfwaeywlouY3QA4-2Baivj1gFE2vXUqL7IHGOZMyxz=
ajgCqrkax-2BI-2FsqnXWvmxYgNDvgBPmB2rcjbSkNZxhyltvKZkNymS94ieaM7UTg4DmCMCnCc=
FakAygZvJbYD0BUfK-2B6xfHheE6Xcs5-2BewTZwm11ACuaCPY-2F9sXoaZ2Fvl43I1fmmEPc4z=
zyfyJ7RAjNOie52USZO8kTmrITT3wnST42r7Ce8XFAxK7Pr-2BLJyWMeNpLYK-2BP1bMLExEhcz=
vT8cdxlQI-3D" style=3D"color: #1D5080;" test=3D"">Explore advertising and c=
ustom 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">&nbsp;</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>People</span></td>
                     <td style=3D"min-width: 20px; width: 20px;">&nbsp;</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-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYextKU4Y2Vhf4LRCJ-2FS=
yeE-2FVQ-3D-3Dqko8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe=
UgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZ=
u4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1n=
k0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7=
niUxYhHthqm2pbWMjeXeDZM54S6o9oakfGo4E6vwqDdyKAnJQdBGJxJOI8f8QbZG6tPvnlRy7Y4=
BVYiQte7jcXAryxdFhTNmymcwftNIDu6r2ebP9y8rpAYkL90NNJ-2FZLRKbNn2uKfKy1U8vGM2A=
rcnibhwSIDfPmB-2FsohdcTK2Zf1suAtkiLrjqC2nnqXWXG7VDxbGsq62b9spiCpzkST-2F4Eh-=
2FlzbecLE0huHsM5Vj4amC2-2FAnldjud-2FL4Yr8qh1Ta0bqr4kAnAb1vedTMCPI6hFL5U-3D"=
 style=3D"color: #1D5080;" test=3D"" universal=3D"true">ECI Partners</a> ap=
pointed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYe=
xtkWvQfdC0xYbI-2F1-2FP-2FWVGA-3D-3DwAJC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxB=
RFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDo=
ordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn=
4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5=
f-2BYis3RrRq5zUTNPRo7niUxYhAP8hG1HBtjiPV4jBKWJ4zDi0hS4CDLluij3WTvqs7x9HtAfd=
jj5B8s6kfVRPzXJAOMxNsp1HkTl0QejTH3tQe1PFtPI0cLLmaFUp-2BihjYxF1ylemuPoW-2BiU=
lXp42ZRhzxYaKLxM6n-2FihLwg85vZvHy-2BM3Twj0ZRcbDE5L1yxtPlbgeoDOlBvhKCisTzj05=
XIPVGsSm85TjCA45eTfryYIxD1h6AJtqmZ0lf5rA-2BSZ-2Bxbx0Byr3j-2Baz0-2B-2BK427-2=
BINhoIzqwb3wjPOIjZ8B9Suys-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">David Danon</a></b> as a partner in the investment team.<br><br><=
a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYexzMHcS0FUR3mCA=
vx4552EkQ-3D-3DdGkk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW=
eUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksv=
Zu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1=
nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo=
7niUxYhBw4QUsRcf0i7n6U58riMuZm54qhAbUD-2Bz2cwC5SsIL9GwlwlL43kpATIkme4cylO8M=
VNoS3FsXCHFQI6ZlTTw6os3I8KKIujVvakGhIHQr9V8RcKXCAOrCcJdQIJRvKk5EW9R5osNRt9P=
uKqaoVzhrxWhhLEFieEyEIxMcWSloVnLGJiBg-2FGf9EupoT2IIQcNbuGeGHYJy44rDVs0UqyRk=
J1c-2FPR0oy0FbNXDNJLXfJpdMo014zmnn6qRPGkvV4hKgtoJWUH-2FOejA8ndTjgzBY-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">HSBC Asset Management<=
/a> appointed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeR=
yLYexmQy1LByK5hYIaEn7kQ-2FDsQ-3D-3DH_ON_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxB=
RFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDo=
ordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn=
4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5=
f-2BYis3RrRq5zUTNPRo7niUxYhNBtug7rzZqJqxgl47JylxjMxcMkY4PACpyI-2Bn87lmp18nb=
TSNxmcDHiJ-2BPasl3K6o1gVaX3xioBJqDEI2-2FXrFs-2FfWcTXTK1Jjz2aKIiFgJCr1-2FVYF=
Ok8ytmiSRRrwvRkD7uVNO9d46n074mbSVV9Hskw9logpGzAklziqoVV72JmrFwS7PR0vudY-2By=
XWvAO8kOjWiLALXGg7oVecKifz5yH069C8NA5TVU-2BfIqxi5GLO0O1rJxrXI6kg2-2Fsicf6hd=
oFH3U3Gdn7De-2FdWdiZrYE-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Thorsten Michalik</a></b> as CEO of its alternatives business, fr=
om April 1, succeeding <a href=3D"https://url6380.news.pitchbook.com/uni/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWL7XXgt7gb-2F=
Uu8KeRyLYexd7cQvXlRRcksNWLLgWAMpQ-3D-3DoGv9_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfR=
mFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf=
4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetB=
igU5f-2BYis3RrRq5zUTNPRo7niUxYhPLdoZQZS8MmLx3-2BfCR-2FlICTIlUNyAz8HdZFGEtcf=
yOnz0sKn-2B4AwM8xkbDFC8QZGKP1Qwc-2F0DwX-2BVWPSgZUx2DAXunaO6OwPlrZ12ADEnGpyS=
YCXmCdoN5E76qr3rKHz6cs4nTMA-2BLWtpVwOxEeoBx74BQAovOzMyHoFr-2Bt3ft0wy51OghmQ=
jetBsixmnOE1xywm7CE18T-2Fro3wFUHGhOPclKLfek0DGf7qfVwahIHqu8c3O3WUyXKK72Gtlr=
-2FZSlDZS7bt5-2FlGmpwaJXz9OVg-3D" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true">Joanna Munro</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">&nbsp;</td>
                </tr>
                <tr>
                 <td style=3D"padding: 0;">
                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
 min-width: 100%;">
                   <tbody>
                    <tr>
                     <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
                    color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>VC Deals</span></td>
                     <td style=3D"min-width: 20px; width: 20px;">&nbsp;</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">Agtech=
 startup <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWL7XXgt7gb-2FUu8KeRyLYe=
xFZAeaRL7EZZabxQN6I-2FgJA-3D-3Dfr9e_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf=
mzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl=
4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkI=
vaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2B=
Yis3RrRq5zUTNPRo7niUxYhLUANb4Dj-2BC-2B7ApSqNA1EraJ78qFs4oHzDmKa23R75eLV5sNA=
f9JQTX5XOglOODPOVF0-2BsLV0e75gaxx93ANVcnPJHzq-2BGbjV3pdoBz1x9L1llWAreZ72XTu=
boEVxqU48LzSBFQa8QRtiDMPAGmFBs4sIDn0w76GyfmqhAP8WB0T-2BWbpe86ahuFc4Y22KVIdy=
-2FqA18dHhLvVCFJWNurXTt4JlGoVYRtVLAiyr4MnEHXg0CQ-2BnJcCVp6gxK9d-2BLHDjlSlj5=
fvvefdlh7QDkhkf1o-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true=
">Halter</a></b>, a developer of AI collars for cows, is in talks to raise =
a new round led by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7Fx=
I1oY5gPllOZOSEXv9fetOdc-2BDog-3D-3DB6_a_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxB=
RFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDo=
ordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn=
4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5=
f-2BYis3RrRq5zUTNPRo7niUxYhEQ7jprPE40t8WYxFyn70-2FFbT0Zrm7820gMaTBQPnX6pP1H=
Vt7M3wt98uRBVbNm3rZObNrwN-2BiRY-2BcwOTGFGXQLVG5n9G2qlQlFzu34UT9SDexd1yQZJVV=
EOODBwGQ7Xih-2FuU5wawmQCJr4lLazJmU8L45lDH-2BMEj-2BC-2BpZRYpYFzFmHsQNr3Ggwvp=
-2BpFc8GN-2Bl8q-2BviAqnlkGs0PqvFoHilQHt0y6ISnfYxRFW-2B-2Bkpw3fvW3AtWH4rHJ8z=
qYsH5PdS9-2FAfmDeX-2BbKIyfJLAOdxg-3D" style=3D"color: #1D5080;" test=3D"" u=
niversal=3D"true">Founders Fund</a> at a valuation of over $2 billion, Bloo=
mberg reported.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE=
7tcb7FxI1oY5-2FA57kK-2FILnBugztzBVy3Xw-3D-3Dse2U_I3w5d9c01gkD8gLzFEofZR-2Bh=
6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU=
7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8=
JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIu=
jFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhKtb62XrBNsDUgeWq21KqGAE6pylPI4ZAwCLlYFw=
-2B-2BlSCxnxLoCAi4CjVQ-2B5HQ9jpqXSUXIQilbJFvZBiZ92s-2FjVuKtstsJScORuHbboFY-=
2B-2FaZqz1bYhtjp7b-2F3vigkC1pZERqcCc3-2FIwoei42MTFNwOY4oJ4bT6OztHFkS175sVs6=
EAdQ4g4HweRdfSf5RlMTMa3V3dBfe1ZK0TjSS54OnfizsPYuLd33OAppiqODqfvBBcsbINTwQki=
zPkjp5SycUIACT7EJc0nKBiP4eroxg-3D" style=3D"color: #1D5080;" test=3D"" univ=
ersal=3D"true">Dash0</a></b>, a developer of software observability tools, =
secured a $110 million round at a $1 billion valuation led by <a href=3D"ht=
tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS=
WIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1oY5ZJuUSgfAO2wipcxVFZQkBg-3D-3=
DoQjU_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZ=
U8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8Cq=
DdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZc=
ugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCH-2F5T=
3jf-2BshNpmQpAT6wgHlo5lfo3XNBbBhpFWuQ9JsLBmebJo5iGs6-2FcrfjYZAvirQElC6FKerT=
77YtHHVF3Dbao2Yv9CKdb6qAftKxrsq2DqRPyOLdjc6faBpKn6N2SOYZm81BUGtBnER1AuW1Mcw=
-2FxPcUPrTv8ssNNib921VoYLSp-2B2XZ4NTmghnzJmcCSGkVGK3K41ntXKf7yEniRtgnMxB4tC=
SlNkEL0-2Fo-2BOFKPnw9h9Iv9MUTf-2BW0TEVvJyFio95VCc2iz7A3oB8s-2BlA-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Balderton Capital</a>.<br=
><br>
                               Autonomous driving startup <b><a href=3D"htt=
ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW=
Irf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1oY5WAW8-2F8F5ZmAOfmeVNyX0KQ-3D-=
3Dij5q_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF=
ZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8C=
qDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZ=
cugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhNCVrxl=
AAFE3zlQQSj3dCi0l909i1wB-2BtG3uF3DgfVWaW-2FXAdyjcreyuHbhem3bjWOKNr0cJpycMJP=
1Ik5LL9DICd8RBHAyPNunjvCn8-2BmmD1pytfUdTfzAXeL-2FNtfmb5f4A7CHEMTv-2FH1UpI0w=
DApxOc4C2T9kh1-2BrxuG4vxljFEd0EIg4zW17GXQsSv90oU7O6-2Blslb-2F33lfQVAynGNwQZ=
ITYYJw-2B4ktCvApkF1QOpNicGM3vtyu95AY7Hh5jgNP3OlAdyv5tnlD7YNxi65v8-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">QCraft</a></b> raised a $=
100 million Series D from investors including Ningbo Ninghai Xingtaihe Fund=
, <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1oY59kV-2F-2FhUf=
eOZBlEkqo1BtNw-3D-3DThGd_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ=
bcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPP=
wGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfT=
L2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zU=
TNPRo7niUxYhKiidSYKSUrmIFZBfW1GKPud7L8npuFXCZFZeoWAlj1-2F3O29z3ifrRhExJbwJG=
XcELyB-2FvKMH-2B-2BJPG8zXvG0LC0umhtutUO5oimbF9lZKE2L7LEUtkoy6L6L236FLBxk-2B=
5BJXDGGstMjB7rY8qZ6OhQqiaUiTsL9go2KPPq2RFoVZfd5kK49Sx57v1Ob9ijabT6hPjUFUoFt=
wxNjUp6CMWcIBb3LTda1QuA9jnK983DyyzKrt7PGhlmd2A-2FuZvSsxF6tPqmDfYewFyRBMIh-2=
BxYE-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Wonderland =
Capital</a> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?=
upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1o=
Y5e1p-2BY4wGNumDt-2B4wqiKHQg-3D-3Dp0bn_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBR=
FCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoo=
rdl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4=
FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f=
-2BYis3RrRq5zUTNPRo7niUxYhLulGcOGeMIc2bfqYjF2qQGRhbe-2FsetiW7G1uxKYTTm3cZXw=
RttRPzPizOfQVmTVjKokcZzakXiO6WwnVpVZOUO44L-2BdZQ0XAoBNZ0hPOp3FcggO7iXvEpiO2=
pdV8KAaUwgDkCQNJUqJVkn5YthzRT8CuC-2BBEGqU-2FJiHBwJYb9yjf7Adm3cNGHeLhfuWbnLL=
h8rZqgx-2FPZzv2Z4k4n1efSWp2I79V3xG9YFUnNMtBeci5KxZ0Esea-2BWP7XtS7bEVxFIA0F5=
CND802Bavmjjyvlg-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>Liangxi Science and Innovation Industry Investment Fund Partnership</a>.<b=
r><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du=
001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1oY5RTBTp=
hWZTPkmsfoq76vnnQ-3D-3DTRa__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjV=
pPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJP=
xfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq=
5zUTNPRo7niUxYhAcPOo-2Fs-2FB2JfsfjIhfZZ52oHygAS5JaIamNhyp6udrwv8mo3svKE55pV=
iGizSoTUHD-2Fa0gt6uqGSi0ns1JV-2FO5EWZEKL8mMJUS3cfiLM9M8yhIl9LrkcK6relRxVx45=
TQqdm0MtVkDnE6wX449rEI-2BJuO2k-2FcqWxvndq6zPI0mc-2Bg5M9b784HS2sBx81CRdlW0q1=
covw6stytP61PSXfFppQQkLkrrDpwHJNI5-2BRySLYPJuv4VDQBI-2Fa-2BdIkGPg2Bh7lueKDd=
pLa9SZnFixV1c-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Do=
ctronic</a></b>, a telemedicine startup developing AI for prescribing medic=
ations, secured a $40 million Series B led by <a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzUsvsW1tXYE7tcb7FxI1oY5Wv5weqvau4RJGSAdUh31xQ-3D-3DqmbP_I3w5d9c01g=
kD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgu=
mqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabw=
JGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6V=
Y-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhE8qF9KXJ8R0dRw12ikecUy1=
l7mi4C-2B1W2s52oyyLG-2BjD0SFwQNv6TvOC0CeLcpAyVAPHphbb-2BohGho066xq1LSdw6Ht9=
WJaWr3xppV460QZkducYcjYpPoqy9mOeT6djulMTh4QR6CKIe-2Blg3Fm9JL9LO1a6rmpl0kPqc=
jqcqYWFj4QuyUotHvFjc54nepmQAsScGBEfXwhkLb7aoVHiNr1k75b5bUUOOXobq8Nd2Xek5Opk=
jQwNJRuzXTBiMSHbt9560dm5BjXR-2BbHHSP-2FDq4-3D" style=3D"color: #1D5080;" te=
st=3D"" universal=3D"true">Abstract</a> and <a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzUsvsW1tXYE7tcb7FxI1oY5e9sFN98QQoianNunZRwOJw-3D-3Dle45_I3w5d9c01gkD=
8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumq=
ezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJG=
e4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-=
2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhADekUcZgPFgdhsyyMfvBtnzxD=
aLhPVV4I-2BnceOsx-2FPze6uWIqQP16GltpcwkhXx3-2FM9Xk3sYsd4EJZf11DmpUE86uGPzYD=
yA9FAaJdriYu5jizu78VHdAWxeflGPJyAQmEiQHWpD0mzSiJpaZO8J9E-2Fxy07xzZX4m4nnNoY=
sYmZY8F7Y2rHvPoCO3lS9dKLm403sogXSdCj4zf8HKuFjaPxXnPWMD4HL1Iyh3YRnq4SksslJkJ=
rSMHRyyv7W5TONdSEKvBiY8EDR2g-2FnDxSRKs-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Lightspeed</a>.<br><br>
                               Biotech company <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzUsvsW1tXYE7tcb7FxI1oY55czisRbAgAzEttTW5VGH0A-3D-3DxUcZ_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7Rh=
vJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZM=
JabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY=
2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhKxFMdtsYJkZwiLcvUAG=
1fQhiGBAkQtLdiObDw5OeNm-2F79dWYRpGfqtfJ-2FOYsXVWnwEksuqfntkI7Jzeh8T-2BkoclM=
vOQEXarmrTLUZDy-2By1o-2BOFn1-2BpreCIzcWIckEtVB2zOvuNzoOcYPlZC0rdqm-2BQh8bf7=
EIq7TTVRftTiTTUWeab0S6F8VhtVsO4Dz-2FmDvwXKeOvuQbwV9QTPrAfZD2rYw7iwEqR5MUfn3=
u6XPIF8ZpDfk61aHYBf9pjpQyhJBuwzGkI6-2FrFU1zQ7405iLHA-3D" style=3D"color: #1=
D5080;" test=3D"" universal=3D"true">Amani Therapeutics</a></b>, which deve=
lops treatment for neuropsychiatric disorders, received $25 million in a Se=
ries A from <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoF=
xsGoYXKdz0biNb9IGXvKw-3D-3DQh8n_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-=
2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0X=
AWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUq=
LhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3=
RrRq5zUTNPRo7niUxYhPIsNCjkDQXDfy7eRsPW91B9MKXyyLfgZw6Xaei2UuxWjfcF67dMYNQ-2=
F-2BSTgDOx4iRTf84gDlJgRHg0d0z5qBQ2kgkJ5NwFQVbR8rS70Ok9wBcVP36vghx-2B3L5JB-2=
FZi2VfP9KoBwbU1wrjZNLnXm1WS2OXOqndrh7WYu72wsFxCLBIrIoEJ1lvEKCq09dduWT-2BP5I=
AG6hiAanCsUNeRWvj597ilKUVHM5sVdUhf2uMI-2BML0Z0oeCgcGTVBsoHJJAo-2B-2FapvsWhe=
Z9nk3fElm5cAI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">RT=
W Investments</a>.<br><br>
                               Canada-based semiconductor company <b><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uo2WGyYcPa1e8uRUm1UDGM=
dw-3D-3D8g62_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0=
m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FC=
pvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvw=
A9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYh=
IxgvBaok2aZrdJHN6KSiq5mraIMNHiwEvdkDSSJD6eUORrr0O0hfboRwXzQedXpwnqpYeQwBpOM=
8KqSY-2B-2FA-2FKkC3RvqWkW9K2q6LYSWdUk1okHnRF8XlGcY1baeKtLB8zUed1mM6yaVGeH1j=
ejiYgqEyoOXhIvSujmdcTQ04szCkqPdTjer9HnO50RhMH4IR6MQIVE-2Bc2UHci6b6iJz49V20r=
HD7qzrrZNQUCCcqicvOqt5Qfo6aT7UwXkTVbGFoC2UHH5r0HpJ5dlrMffqC-2B0-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Spark Microsystems</a></b=
> raised a C$17 million ($12.3 million) Series B follow-on round led by <a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoveuw5OeVIj8YWOdPs=
5XOUA-3D-3Dckl3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z=
9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0t=
OvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niU=
xYhISUSt0ZRToCsjyfcpwvKLnbBkD097fWLHfLltVHqtfidaWBPSZE-2F8lp0vWgZlafYVWHQBG=
x-2BPPUHjGBpTXThV-2FrWyO9uM5sWVfpmAFuQSnrF7cK9cWfMPBP2ZdRunpzgYjRNK1KzQeZec=
5sKYP7J48TA5jz7cW0I369tHpOAtziGKzA98j2gmhhEphjL0wdnSPDUI4jjm6Kuj6vEElfhDOjz=
3qtr9Eh-2FD6w-2B2yImi-2FcXQyVT6vUfoBWQeMIrMw-2FZ53ElffyEJQQB9qpox12iyk-3D" =
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Idealist Capital</a>=
 and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoin0h4ZWbm=
a-2F06MROyyfnhA-3D-3DpQkr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpP=
PwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxf=
TL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5z=
UTNPRo7niUxYhOsifyMKMf8-2BgPBXe9uoiPAefRlusV2o5XEOEpNuL0DNOMVLmqsTWGCfdeCGx=
YqWbhjO-2FKB-2FmcduEVQAvTPt8S-2F74EOJYvm4EkCRbCM3QZwEtKb8dgdhN1AC6NGVNlRiET=
Q3CWNoNN0ANuFM6CtiHmpj254VhPtJNE5WL60QIzkSVsghPc7Eg1UUhuT33wIzcvADqvcLplIvD=
ANwHgwFsl1BYUja0J9Kgzs7e9uJ9yzc1hd1vu3eEBuMxOM3ieAKSZi-2B0iyRm9hLBF9D1Z1QHS=
E-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Real Ventures<=
/a>.<br><br>
                               Munich-based business process automation sta=
rtup <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoVu1u5E=
fgBeB9GmGJJ9QqeQ-3D-3DgBqq_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1=
yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVp=
PPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPx=
fTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5=
zUTNPRo7niUxYhMjAMFreG9RJar5QltG5OLBakW75ign8D2e4EOU3BJ4ED9s11l-2FD6V-2FUUS=
hrMMJIiljuuX5Fiu5p67p0kIvurBmCiEtn8ej6wScdVoPt5z4cZyC6vAIS1cN81eKRIHMZ8Zo8h=
mX1ySV7LZcZFWgr8pIuznOKA9ig5yQgKEz2bKAEhVzHCk0zNju-2BH3gXFnxadqWM6EtRN-2BXO=
Qw06EARZZjMq-2B2jArX3P3zaTVsr0ETMSISHARnlZ1F-2BVQ-2B1ruBLHSjupHaKNLb35YzSLX=
N6LnOY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Interloom=
</a></b> secured a $16.5 million seed investment led by <a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoMKZ-2FjvNGrSIkwBhmvw0uVQ-3D-3DYVl=
I_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nK=
lzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjs=
yvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV=
6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhER76LZ1YB9i=
bCzK8V-2BTevdXS1zyVTb07lNtrgPx990EY6-2BT-2BrzXE3O3bc2-2B1egfeUQQ17vTfWfgu-2=
BvCEQbeNmEJ-2F6g0z9u1EVGr42vMe7qHMqgYh4eOtdtr2EpbzLFzut7N9N8v9Nu5VgngWgMFYE=
qt6hOYczQGMEtac0GmsI5x7t6-2F9G-2B9CftJK2u0dQH9oC0Z0W4-2FcN1m64ynEjUcMvY4P3J=
UaitVbY3oX-2FYmR6DxAvevDkXDhruVe4Imr-2B3q3U9kXHPnn1rYjZbAIRkwITE-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">DN Capital</a>.<br><br>
                               San Francisco-based <b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoycxyVJEfA-2FNd0xecFphzrA-3D-3DDCWo_=
I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlz=
NTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyv=
ViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6M=
BGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhIbysDLX3gtiWR=
O84aakwM64olaICxQZ4ZYI2AqqpHI3H9V0ElUTIA3w-2BRaFbn3DWcac6mpDFkGZpdNAcIvGEiM=
YxccvxwkkkO8eWlUShUEpfm4TEpsVNR-2FRNRBwHHnBaBmbY35QNdvzMn6EiX5sAe3PVng3eZf-=
2FFJBz5QuzRGOPkXhtJ4WXe-2BZg5ce8zwqoChuw8aZq3o5LHpkYYbUbE2Rx3MfNwBzBOvB3sif=
VYOODA0ZFW0ylww9cfdPoLSKduEjAtt12STn2oqOZcflx-2BcM-3D" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">BlueFlag Security</a></b>, the developer=
 of a security and governance platform, raised a $16.5 million Series A led=
 by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d=
4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoupEL3AtS8j=
h3mr-2BPCMWRjQ-3D-3D2zBM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ=
bcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPP=
wGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfT=
L2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zU=
TNPRo7niUxYhN8GzmK5d09QlCArjArbK4BE4kr3201nUMkjCi0OjzbAizkN-2BSobh9KpzAwWCb=
-2BzuR3T-2Fngt8stmgi-2FboKaWaVtkaTGuL1gGZUL1k5sb0-2BNQFciwbDVlbFdfwfJJe4rVw=
RJKX43vQWnPtBd6Lh1jCFpQXt5zMyc3DV4e8Tfa1XTfrNGRZqvM9zv7xG7D0FP3w0G6QtRkoD26=
jQr7cYvtoVWhU1pyQii17gw31cm6pUhmGBcu04ToQ-2BLv4NOHLD5-2Br4cF6xPlhK5BllCTD8F=
hD-2Fg-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Maverick =
Ventures</a> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU=
5uodDyPGbcWVI57PxzuyFR5tA-3D-3DZV8e_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf=
mzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl=
4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkI=
vaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2B=
Yis3RrRq5zUTNPRo7niUxYhGOe3LPMVfRSxIi0daNTu95eFRTu1jVWm4vJF0DkeXnSsq-2Bz8kC=
t0NBr-2BKN9EQ20YdM3QgS5R-2F10sGD96t-2BdKryqEeV9STBLMYfKnd3nuftttOpNuc7TlYVh=
q2w0vf5c1R79kgNNRjjKaAYgnZPwp0hwScDHQOE3dzlkqqjm1mQVmhg3ZRiicsI59BPGItVQE2u=
dqWe5XPwpR9bn9ttsep46vnE4-2FANfMY3LW8vxbZYmgbT6zpKRkY5m-2FpASr0QLkDSiliB0OW=
2Tite-2FovavClw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">=
Ten Eleven Ventures</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">&nbsp;</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-2BaqM7ONnvsnswouzXAJyio8VBYs73r0pnoU5uoSUUtgzVd3CWT1BKDaXHkGg-3D-3DMS1=
u_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nK=
lzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjs=
yvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV=
6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhMCjIVcraEj1=
dq-2FySbuhHIsSYOZO2B4SCXvdVMdWBCrTrVFw93UqZKdPvwxhM8gFk-2BNBVSokp94swLey1ph=
GMs9Ts3sdHw4emdNIhBP9nsT-2BLaE-2BIjyeqs4ugBTca-2Bb1u4FMzLS4brJEpZqaaprlYYeo=
LAc2H-2B19iMPT-2Fs0b9s0T9QSjFRWPCeX4McUAhY3d1HZG8d9Oy4uXs7xheHsePgJUhBxKM-2=
FSrBbR-2Ffqxe1XZY129fAkc0ZTUBVsUkv-2F3hyXpWtzHSuqury14XUQKfbiQ-3D"><img wid=
th=3D"460" src=3D"https://img.pitchbook.com/ads/ad4524/deloitteh4.png" alt=
=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: block; w=
idth: 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: 10px 20px 14px 20px;"> <a na=
me=3D"n_578801" id=3D"n_578801" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
                          <table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
                           <tbody>
                            <tr>
                             <td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
                                                                font-weight=
: 500; font-size: 20px; line-height: 26px;"> Don't miss our upcoming webina=
r </span></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100=
%;">
                              <tbody>
                              <tr>
                              <td valign=3D"top">
                              <table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
                              <tbody>
                              <tr>
                              <td align=3D"center">
                              <table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
 ">
                              <tbody>
                              <tr>
                              <td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2BiKlDA-2=
BHbBiWQnWzF3YCgUQ-3D-3DKhQe_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjV=
pPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJP=
xfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq=
5zUTNPRo7niUxYhFT9WyIUPWBLIIZChGKH-2FaOItCTczC1fsU8uljJfWEPRhgGXW43p19XRFM9=
F2w6hV9sw3r0bhQw58ums0LATF3QJIH-2FKTi4CIkF-2F3Z1B1J0jNNQ0ozAKl4yQ1162TxW-2B=
-2F456tm1las0u8uDOD7Ys26w0Uv0By26DxxALdBqaHeObmigjFM6csvXFNFaiBPwEhWtJkhCHg=
Xe6DDCf5JGw35TcPPQsuUCeeD86qb6Ktn1-2BZNwVw5Ig-2FyAlgZ6Z-2FkIPfz3olN9GG0lZqy=
yAdSqnpOI-3D"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.=
com/news/73331.png" style=3D"border: none; width: 100%; height: auto;">  </=
a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Evergr=
een funds are transforming private capital markets by easing lockups, lower=
ing minimums, and democratizing access to investment strategies. As a resul=
t, allocators are encountering new pacing dynamics, liquidity options, and =
due diligence challenges.<br><br>
                               In this webinar, PitchBook analysts will be =
joined by Neal Prunier, Managing Director of Industry Affairs at ILPA. They=
=E2=80=99ll unpack how evergreen structures are changing the allocator play=
book, including manager selection processes, fund valuation and liquidity m=
easurements, and key questions LPs should ask GPs who manage evergreen fund=
s.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001=
.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2BiK=
lDA-2BHbBiWQnWzF3YCgUQ-3D-3D__fv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy=
-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0=
XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaU=
qLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis=
3RrRq5zUTNPRo7niUxYhBdJtjtIXq-2B2L3UBNl1iGAL8G2CPh7EJXiwp7K91F-2BQBnJj-2B9B=
wuXNx02JXG7kZN-2Bi3lhMo37hWJkfRq-2BuuB7QK-2F2tVXPgZ9kg2Y822hfqEPXwIdTVMnin6=
75NOYM4XPbLF0ynPmt11wYM0BjRyzS5aqUMn7BCeTI9TlA7J09mhvPi5zIUfZ66RfWDppgEhGAp=
iQckIn4J4YK6NnMVcVgWFyY9oREDFf-2B5K-2BONYiCJUupehgnVTSWmXZwPyCESGm0FQNASOsb=
CKrVhm2-2FnsBF7w-3D" style=3D"color: #1D5080;" test=3D""><b>Register now to=
 secure your spot.</b></a></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2BygcgzhOJz2VzZk=
rEAIsusg-3D-3Dg4ao_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe=
UgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZ=
u4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1n=
k0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7=
niUxYhIdOjFXHVbce5luiN7pQgdbySOonwhfuUmU8nkmDaMNtIpnunWYUoaLIprsdCRTAxYHUIy=
p5XxiSkWQjOd4s69D8GNfcZZjnUh1-2B7q-2BY6LRbCafIVbkY84wBfOShEE8IWt4oKtzb2aJBa=
9BRiIsLTRZoXDcZwzubeg2vH-2Bgvfnbie4qu2WY-2FO-2B-2Bjiupv51aU6Cw7bp9711bRGRLP=
c1Ix4cEcngyIQTbbqDrFvj-2FIlgS841T2ak0f4BPq0w24OE5oovQFZc-2BhSFGDYFZL5c4AVTs=
-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Apollo Global M=
anagement</a>, <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u=
pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqT=
rU2k-2BMv7ldU33L0BXM-2FEW8-2BiIFw-3D-3DQ6iB_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfR=
mFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf=
4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetB=
igU5f-2BYis3RrRq5zUTNPRo7niUxYhOcTrBFvlkpzRcJ3GMG7Oya3mzc9HR9Ldo2DYvX9QE-2F=
arS1TcZCxRcSKG3qf87H4fCpq9Rx-2BwQ4ujbW1-2F7i-2Ba05TnbmULgNLHi9GCZznBvTpkJzv=
7dXvbvTQx0Obh8iEkui0DGe7-2FUK7wOar2-2BgoWymeZNOXZG6eLM3yWAkGvRx7Dtc3S4d7wM2=
jIiWW-2BJ8t1IbUgRlMbsmenuvrobWAUcyN8zO-2Fzph07eJT7ytpZGKAPEzHYKcJdUSM7N-2Fr=
Zwf4rYj8KQbhLWx468JoSWiWxtw-3D" style=3D"color: #1D5080;" test=3D"" univers=
al=3D"true">Bain Capital</a>, <a href=3D"https://url6380.news.pitchbook.com=
/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-=
2Fk7kINN-2F7gqTrU2k-2BaCdoNkEiWwearN-2BOi4EGSg-3D-3DQ0ar_I3w5d9c01gkD8gLzFE=
ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJy=
DcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2B=
RxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe=
4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhH3dXrlQdue7B0ab7CR1mSUJ7L5kN2kN=
fBVtDx1jKAWo3HxC4Awl6JmjxOmsXJZ7yQbPxmBQyDf1ZG6He1wL8I8T318H2Cb1M41V3znWyCL=
td5PSpyT3KnlIh28lzU-2B9YktfKNJTieIFTMJmw761ToTe8Uc72Nmz6ox4tE4PzV57i-2FE1zt=
5okQPARRhqO77V3m4-2FBOyArYakL0Rh0rzKuiNYYHHOsOVfyJr-2B7J-2BbsaeN0V8WEKz4I7R=
G-2F4ACNG4m-2BlEcGPDrA-2FGVA4YbXS7bOQ4-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Platinum Equity</a> and other PE firms are bidding=
 for the industrial unit of <b><a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk=
-2Fk7kINN-2F7gqTrU2k-2BrF-2FTrtBxE8cDRGwY8JlIOg-3D-3DmmVk_I3w5d9c01gkD8gLzF=
EofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJ=
yDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2=
BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5eb=
e4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhKwZgbcYxctFru1Byx75FglD5GA8XX5=
AM5ZhiZK4DOqtHuFRQi6IC8Fg-2FfUE5Mz5GJxj5yFlGaPOOm-2FvdTs9HV0HqRiR-2F8cgtChz=
WHMaplTCPGY7ktcrhmP0P8TgzYZHz2czFlIVZI3SUDCGBbM7NctZlglvzF-2FXL071DwZv0wZ-2=
BZrxCvruma16ylaWFnp0AKz18J1oSx25GARk7263qC6MvpXSI9Hje0KBX8yXGyyGsipXuL0JN81=
P5BwpCYNkNbuYUJ1HUgZEl9TxL7aOahlU-3D" style=3D"color: #1D5080;" test=3D"" u=
niversal=3D"true">Continental</a></b>, which could be valued at around =E2=
=82=AC3.5 billion to =E2=82=AC4 billion in a deal, Bloomberg reported.<br><=
br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2B4cNqJ=
vBRCk-2F8RhIRi1xr0Q-3D-3Dr4gh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F=
3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAW=
jVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLh=
JPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3Rr=
Rq5zUTNPRo7niUxYhNRrzvySR0bFRwkpjjichbdC-2BgLId0PyvcgP66oQMfeJqaAm09BHw5n7E=
-2FfVitZ1QN1y1N31EKFwEojqgSD40Et-2BjgOUtXbjGK4EI0kEW-2BGvRUEjzILa0vcR-2Fldw=
clkT0I-2F2iHBt2dl5QKNnkbCpynvvvuIPXIeCz-2B4Oj5AmKIMyiPtvxLsRkxWw9SxvOIrUCCw=
tGS4pihBHgF7z5XEoA-2Fm7WTebpz77cgeJMMEPNB0KuhTP8P9tysQg8rd5pmJYxDUfk4HwEAbz=
6Ntkr3sD4ZQ-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Brid=
gepoint Group</a> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN=
-2F7gqTrU2k-2BQzMHCQoH8P93mvhPOPYpQw-3D-3DcAxl_I3w5d9c01gkD8gLzFEofZR-2Bh6V=
warHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7Q=
MfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8Jz=
ZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujF=
etBigU5f-2BYis3RrRq5zUTNPRo7niUxYhOQCt1aJEtRLpbWVYYz3DrwlJjDZwZrNq7SugfoNas=
lO6Y7ZEWua11szGC2EZOBwcqxKx9De-2BVrKqsMLIv9-2F-2Faysan-2BbetB-2BChO7tzMRfLd=
I82gA6-2FoFmBZXdYVnnmDp1eVar62FsllayGMIyl440-2BhftGtq6Z0UJ54yrQ4s-2F6Cl6MRG=
gxIJtHQsaU3mU8Unq-2BSGYSYlfr5-2FH-2BX2EVFH6OAyUheLt1Op6jHZ-2Fciv7aWMytHob-2=
BoK0G1p5OBMBlnNjLfE0PeUscGGhpD-2Bd04XG5I-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Triton</a> terminated acquisition talks with <b><a=
 href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2BR0U8gSKXJ5=
dNO49cw3eq5A-3D-3DAZuV_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbc=
bdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwG=
ksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2=
za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTN=
PRo7niUxYhDqv747-2B0kfUkWuLvIt6sD52bAvEKObmMUdQdvo8xo5dNaQO8ytHJdoOflGBod-2=
F4wwKuYHhb554IddJ3UdVQK1phlR7EjROExOl-2FrvxGs-2BCRxv8qvFCqMfEnm0Qnp0mT48OJR=
dYYMbUyKylV51In7oui5VFOwp8HLd4bi2OMn9-2BMIexlV5mn0juN-2FVnr41d23ZERCZl9jiwU=
IVr7eQkcLaTHq8fJuEk83639ZQul84em4b7LlINNbXccNc0iKW29W-2FHuIF4YcCCxE6GksTxNi=
fg-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Spire Healthc=
are</a></b>, a London-based hospital group.<br><br><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2B-2FojUWzrYg61NNfxBjZnQNA-3D-3DLt=
Cg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8n=
KlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdj=
syvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZ=
V6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhM7qUnZfXhN=
lgLqhWmIZ65P5Bi57ONOvsEX4jPZdkhxNahFB4x5V3ai54k6TNfVLKQd4IwuKMCnirzWSfkTBM-=
2B59lDOVPGbnfdtvFXixeSJsPWYNwWILXboO1iP2bf7RuvI9L3riKvSZPeHwk7mjve8liZw-2By=
q-2FmWr1lsBQeWjtyaJBgUE6uOn9ZJaTbvMbIKEn2SErYacRXq7LUlP98YufXsPac9uz27ZL8oe=
ou-2BTyflImzf1GMK0ungTEqT7fVoTvTvPuIwfiUMJ88It1Txsk-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">Berkshire Hathaway</a>'s <a href=3D"htt=
ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW=
Irf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gqTrU2k-2BMSFED8sEKUxxydaOCnoBdA=
-3D-3D-Rxp_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8=
PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpv=
Hx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9=
KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhMm=
OH1f-2FWWz3JmcXoxM3CPw3NUXT7dX7gVajuGSSn5uVOsjpjcoric-2BL8eoH-2FRS3j2CHAVUr=
dns3G5VHklDItv-2FRwjf73h6kq9DYOQQEQJrpnHDVNRi-2FEt817ww3lcYRrrubtLeAqxeTO26=
mBzkwECKi87vz-2Bn5f1iF4ZJwfDS63EDcYwH9eycqzqsBoRpqCNaHEXPZuFTb2hgr-2F-2BxNX=
boT6FotsUPd1FKPhNrbL0eweJ6a7vVQSxDSwAsQUboPAQTMDgZktCHVAqOTJnRUH64c-3D" sty=
le=3D"color: #1D5080;" test=3D"" universal=3D"true">National Indemnity Comp=
any</a> is investing 287.4 billion yen (about $1.8 billion) in Japan-based =
property insurance company <b><a href=3D"https://url6380.news.pitchbook.com=
/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c=
-2Bh5icbDAOMtiCWDfMgBFl2sBzj6B1XehMVpKsQ-3D-3DsWLH_I3w5d9c01gkD8gLzFEofZR-2=
Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1j=
CU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0=
o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQk=
IujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhE1xVFYk0H61vejTqxPcNsWMkFccXtKVrtk3in=
0leV1SRrQCy490owf0aHEGDBq-2FkYdJnVfuiDuLAPKEaTcn6-2FZy20jjPnB3uKvwW-2BXRr61=
R773Wfs12rEdXvznb-2FoIyeg4CnTuo1JlD-2F4ofPRp-2FMHRk9CvWBoTb-2B6LSyXKfOAqk-2=
BZt-2F6gDBQ7dlW-2B4ztKEIqtSazBNzrSbWc1yqqfHjvfJ-2BYTRVTYTkSU2VM60pwqcHev4w6=
KWlHEZl62MBGDcXIcXNtAv2FWA-2BcfUhKYzhoWg-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Tokio Marine</a></b>.<br><br><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfEMralXCcJO8rzITMH4emMg-3D-3DANUD_=
I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlz=
NTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyv=
ViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6M=
BGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEZ-2FiDpDFimJ=
BDSym7a4X0ACwkK9ynWGNtJbbcuDed159Jv28YtWTfuvS3fD8araz7H3ABTyxvmtLzMOHTui5R7=
zou02A6QTN6c5Wdr9rjuGM3qWUVo2MQdy3q1GoTaDMIYOtysaLas8bdYJepI8obpiaLAA0L1d8n=
o-2BIXJCoYsjzNW2fFENoZPXlvWqrBh2koW3eg1EwOId80ysdzyIagOcNlofrLOeHIkZBZ5e96p=
lCDbH9xu615Sqb5tBSdrTbAH-2FquKHhMhIR9SbcLT-2FxBE-3D" style=3D"color: #1D508=
0;" test=3D"" universal=3D"true">Blackstone</a> is weighing a $200 million =
to $300 million investment in an Indian Premier League cricket team: either=
 <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d=
4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfU1b3W-2F=
iTfopPMac9KOUdnw-3D-3DSFoh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1=
yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVp=
PPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPx=
fTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5=
zUTNPRo7niUxYhLf9dRkuOEgXOVdq-2BxF9EVtf13seyjN4afIzyuGmGjTIvOnUBkJ7HDy6HrK7=
1n75i5DW3NXmZpAawO8-2BikWQRBYYC4J4wfB0bKuMjc-2FWIGra4tbGlV4H390BTH9rn2roP07=
-2FE3TTUh-2F3mqdDVEsj5NKeNAuOMKz0zKYxe0T3Vn-2F6gEkOnO-2FJr6rSfDEZoWY31wjKY3=
pRFP-2BgDl-2BgMLGVq-2BolI22o46e5tsMLRwL9yc-2BYl5xYSazx8Mz2yra6vBBg6hsF1cKn7=
f60U2eiw2ogvDk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">R=
ajasthan Royals</a></b> or <b><a href=3D"https://url6380.news.pitchbook.com=
/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c=
-2Bh5icbDAOMtiCWDf0Owe6bCC2hc5jejfCYH7wg-3D-3Dieo3_I3w5d9c01gkD8gLzFEofZR-2=
Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1j=
CU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0=
o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQk=
IujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCb-2BlCocZcH20zh15pCO-2Bm0AoS8Qq7rr2y=
z7Z-2Fwjp-2BSwJYVkTyugzPXL5cIvmCefxPH3Wm7Kt16sV9EXObwKBkDq1JA2q9WW-2Bc5JVm-=
2BM1ajmBKpEnm-2FCywJXTg3Dh7Txjol1NdFNp671Nv1ecAZ40ObUksohV8J3y-2FpjFl9G4ekb=
qMWEKwYoCSIkCG8vcf3CNY6KA8INiKSp4F4ol9c-2Ba4XKDckLf-2BDJCHOYDfa8LQevNHGWt-2=
BrH3e-2FFlpUVSzmK3Yv33Eeyv-2FbINkzxlEyHoKU-3D" style=3D"color: #1D5080;" te=
st=3D"" universal=3D"true">Royal Challengers Bengaluru</a></b>, Bloomberg r=
eported.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?=
upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXc8hk-2Fk7kINN-2F7gq=
TrU2k-2BygcgzhOJz2VzZkrEAIsusg-3D-3DSa_1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx=
BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFD=
oordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4In=
n4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU=
5f-2BYis3RrRq5zUTNPRo7niUxYhOvPtz32sFDh31-2BLj-2BFFeb-2BHKbALkkEGhjR9Cgocp9=
Yb6otVpdGiEHK-2Bjq7D3OdrzRSP7SCVZTd-2Bn-2FDbYDiZQkwakdTDMk7xrt38CIX3hwTl-2F=
YO1u08Z6lRPVb8hfnFWzGw9GL0YlfWnUoeleB8HZYwPo48Hcw1myK-2BzLMxNxWPT4SxXOTTRTQ=
RY5h0X8I9aJ5Quf9Tem7ZYPXWtV5tz5Z7xPmUBat0Tbs9min5208La-2Bj-2Fs6pG2BBPIr-2B-=
2BGJhqL1Jb6u6WOgnmu5KXSucGkxCM-3D" style=3D"color: #1D5080;" test=3D"" univ=
ersal=3D"true">Apollo Global Management</a> bought a 37% minority stake in =
<b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfuWkVB73Uc=
kgLYZB8SZmJNw-3D-3DTF6K_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPw=
GksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL=
2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUT=
NPRo7niUxYhEovws3AnIIlHXk587WKvPcCFa7MhG8jd9yPop23llLwj59aPyz3vORowz5o9Sas5=
MXsD1fGL5PZHrmGoN6aj4XdJsurLuUGBsdffH-2F34Mtw7mfpgC8bARxk1tyW0ac-2FKPfsyfjM=
NjAToLS7NOEaJaADHE1muoXoJXx2kvugU1GmIjjZzip8oJApkhfRHwGAefhggUx4EtuHHzu918l=
RJOWeAjZzoeLQbiwoXKhwi2V-2Ba-2BknmAsf94u8iVRQcgZEUUrALwA-2FRQiBSkimsZTiTTE-=
3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Syntegon</a></b>=
, a German packaging technology company, from <a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfzQO0XsaQwkDVDoaGYdRBcg-3D-3DBmac_I3w5d9c0=
1gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJ=
gumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJa=
bwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a=
6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEcFuB75thvyIJdBoyHYcz=
eny-2BFQIl8ILq7GuTKaUJ2AdvSt1GFeR0hWDl2Y4H2V8T7mdK4nTGZONmrV3PlccfY6hyo3YVw=
5XFoiP-2FFFsQI-2FRh4VuL7d-2Bu5tS1QCsnOX1jj-2BMpATABfvKGpcxzRfeBYiPmuzEJVEhW=
b4jgZl84MJgDf1aXRUF6YiIlynpeTwCU6IdRgLcxtSly-2F0omNbsAvEYCMn9EJHxtu1KmTyr-2=
BUbaaCMHoo1PrzpaJUlOf4MIbsU7Hx09Kp1WTYrHdiFSJk-3D" style=3D"color: #1D5080;=
" test=3D"" universal=3D"true">CVC Capital Partners</a>.<br><br><a href=3D"=
https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S=
pSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDf82xkxY4AxX4k-2BTP2wx9wA=
A-3D-3DQwYe_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m=
8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCp=
vHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA=
9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhD=
3FYCwSa-2BjASicpi6RUzE-2FCjRUhcFHHpOz454JHKlhAs5EVOJPd0S4ZOImPuGlr1MHROtsM3=
5lQuGMmCQu9eFTCUpDNzTemrIGn7KR7ZNMLvwo7-2FyYhmnpHUWZfvhjjD7g-2FxTZUgVf7xsHp=
v-2BQdQEVIwh99LY71G-2FV6fvv7oaRPMiAWqQMTWDSGxh2PXt177q40ZlqFdsoak-2FdvL147d=
p5et-2BuqnT4HmOzs-2Bbs2xVNWmaGr0TmNbdjGvW-2BNfKkAfGT48SOpVBC-2FNj-2BTz8I4zN=
Q-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Diversis Capit=
al</a> acquired <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAO=
MtiCWDfsbn-2B-2B8bBm9fBMYH72JDZuQ-3D-3D5igd_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfR=
mFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf=
4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetB=
igU5f-2BYis3RrRq5zUTNPRo7niUxYhBd6rqb0RcWknwrCHcJZSoOgKadj38VvTb1uPb-2FU8Kr=
8tUAqA49wGbwqV7SFj1cv-2FCbGMGKGJTMoY-2FAio9da47lxPL7fDWcHFAscCnIDNg-2FcBDjz=
ZfmcuRPqGC-2FidpdYSQm9DUaKAGWMKfy9G2LXpCG4wxtxdqWHIdAB8LDY2872V-2FWGXmSSB7b=
sh-2B3jhwLTI8-2B495ySqk-2B-2B-2Fj-2BTuddxTfQXdwwSIxXYct-2BN3IAvtPl0TYoow6jn=
eQ7EbTvbTMo0LTpMi3A1qum5YCI5X073iQc-3D" style=3D"color: #1D5080;" test=3D""=
 universal=3D"true">LTi Technology Solutions</a></b>, the developer of equi=
pment finance software.</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfmrQLblBXZpzDlW-2Fl=
OqXNEQ-3D-3DzyfC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg=
FVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4=
z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0=
tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7ni=
UxYhPVqtfJ3VqqJ23te8B9FojOIhg2A5-2BL77W0Ie-2FJ69H7XVpLnD9uA-2BxNiz-2BEU-2Bk=
Ys4AKyuiv-2BDajOnsYIbNEgqDzFxaJ1lVXGVNjcqYuqf-2F46vg-2FSY6lxIENOB4MhnIylZvD=
f2ObFBbHGMXUqeBJBPBEzuClzTR6tbYHYBXO-2BDVFe4znrx-2FPy2vdssr4I-2Bdx28cNgvZ33=
ZCGh-2Byae6FzFm8VC2Cfg1ERA3Lbq0b6Wo0J4NW6K3PPWPWFbHXVHSwZe9TwxNxAJsqrBOpm-2=
FxiWMa20-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">GI Part=
ners</a> is considering a sale of HVAC provider <b><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzUgKt2c-2Bh5icbDAOMtiCWDfNwFJqFQ-2BwDU9Eq376kqdCw-3D-3D90W1_I=
3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzN=
Te7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvV=
iIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MB=
GCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhC7r25piTAbQq1-=
2F0JeF6P-2Fh7CdRFbAeWoq58KtmuDHlG8huxdwfUUANWBY9OsXNndhy3h26wRGi7jXAFs7IJTr=
Dg6VTyEU91pj67rWHoQMNYGP2ZbjjNjsmDMG3AvYO-2FCddzl1PjfYXUMWXrUyrocri2mp59vBm=
fz-2FhRz7eCRNKrjZ9yQbfhMryNyO8lUZV2U-2BOrj6z4chLXS0WTTV5DtW3vvh7wdWNDZ-2BoT=
D8a8td3107uVuhwycVMzKcyR9T9l1KABexalAdfIVm632tegAeU-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">American Residential Services</a></b>, =
which could be valued at over $3.5 billion in a deal, Reuters reported.<br>=
<br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d=
4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxlL9qvodSoN=
WLYAw-2B5uBNMA-3D-3D960u_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ=
bcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPP=
wGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfT=
L2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zU=
TNPRo7niUxYhHS2eOqz583JfBBQfrSXvbmSLo2rRaqclbpmrZ1NZ-2BfuvrjikkNuIgFJgW5X-2=
BBHXKhR2BGAo-2BGFn-2B4UjISlcD6HCXUzt3LzXEzwd2uifKjIkwFGuQuWnDXAYQRlfYKwbMGb=
492AtBUXAMmEKSyyaSJeUrlY4sbibtL-2FXkDOw2nqIVR1EN9UBdeJHsEwtjpMYd0f87fD-2BN-=
2FhKtrGk2wIVfDxJFxcsA-2FJBQf-2BeJlq4wxzeJbmriY9G1FxX7CtB2a6ceitY61OrqnsPMdJ=
q67Vw6nY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Gilead =
Sciences</a> is in talks to acquire autoimmune disease specialist <b><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxfFcmGa2qCMvCWzVuefhE=
qQ-3D-3DAFXH_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0=
m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FC=
pvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvw=
A9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYh=
IXIAJeZWrHNl3YDSp8SrivxmwSIgGHpRGK4C0gjMXgbnbjKK2rWlZ2nwRNpILk-2Bqh46rCbUxw=
Yuxdc4eEcjqriY-2BL0CN-2Fw-2BajehC8H-2F0EiI7Mizt7JQKWDGEiZm0B-2FP5xESe82XLde=
LeqGiS8Ln9e2E-2Bz4KQI50q4uKq0L2dW8Xth24zUAvZ-2FwjLf9LCJqheIvLK2IY1KLpiu54UD=
42nQ6Nl8R8-2BpjBppkw-2BkhQV1BSrj5SJTx9X5IQJXaxq66epAtAU4DqIJL2QO8kYQX-2F7Ns=
-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ouro Medicines<=
/a></b>. The target company, currently backed by <a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxIP-2FKkJk97OSa7yoJwew4Vw-3D-3DtbNj_I3w5d=
9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7R=
hvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZ=
MJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQ=
Y2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhID-2F9Bm-2BWNR8rBe=
ZKb30edYROj-2FEy0zl6tnJcs7t-2FM5gpRpgtdhYkzDDLxuquzB20kDIzKQ3d8WhEvydEmJppk=
hKvfXnCIQql4j81uMx8v4cB-2BrMPn157jsXIl7aqTkRe7dflf8SP6XSJRkUKUhY4IsQwOcBXSB=
YtjvLI7qyrnKVwZa5Q1Rkv2EM3f-2Br3qx2Tt9uDp9HFch4X2RvmBNGfy1-2BcFt9x5-2B5iM3X=
iu2UJUduT8-2F4edodnEfe3V6pmmXBMJyAvOyBChhPUfskuRWpa8Y-3D" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true">GSK</a> and <a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxcQXqTtSKatMlw-2BaF8lhy6Q-3D-3Dj2hY_I3w5=
d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7=
RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIG=
ZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCI=
QY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhKqW-2FMqJjd7HXHcu=
6-2ByHOWuLIpaSY76G9VKL2RGDTE6CGsVFWPmSX-2FlN2hXJh5Zc3g-2B-2B2NpiXBSHEaneji4=
nstmEZHcGIxGdMddnxfAEFmXORMkmV2hUVFnIUCSKVnv2fUnUSd9QTHOfWx4BuDAV87o5KWsh5l=
LuSN4pjtW5zJhV8WZScf9T1AHSb8093LRYsAX2fQgsMQiX87X-2FDvgHCRcK07EFOrOONVK-2B4=
SUCGLoz4VZiInaNmeR-2BHQy5-2FoOz8jVDid4re2xcoM5dee-2FK5KI-3D" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">TPG</a>, could be worth around $2 =
billion in a deal, Bloomberg reported.<br><br><a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzVc6AhT3bxeARfL7tU4oFBxkIiR1-2B3fd14dqk7R9tBfPw-3D-3DfHyc_I3w5d9c0=
1gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJ=
gumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJa=
bwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a=
6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhL-2BoqoUNQf7s950k1LAM=
9GSw75O7-2F4N9seaFmue4Y9uEo6u7qlVQ5M-2FIXAMJYnsq989sdAvkvW7XPTKHANugcYFyt9-=
2FURqALpeKx6OOy466Lei8gGDsm7UK7KeX4cT6G-2FE-2F4ImsMbnM1Vx9-2F97dW2p2PZx1126=
90XKA43dOUHiW275Z2eoLiI5IX48xWCZIHHKYTZAJI7-2BXBggnPQN-2FUJKZbZK-2BqhEBnbsA=
DUHicoAm8qoITYxILpeuocvHj-2BIGNSGSx7b8WA5GxLC7u3q14hJ0-3D" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">Danone</a> agreed to buy VC-backed B=
ritish meal-replacement provider <b><a href=3D"https://url6380.news.pitchbo=
ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz=
Vc6AhT3bxeARfL7tU4oFBxips3SRWFf-2Fe4NLpUCyCiYA-3D-3DX39G_I3w5d9c01gkD8gLzFE=
ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJy=
DcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2B=
RxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe=
4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhPImZwovwxlveYTOndXZIrxTWMKw9hSu=
e4feBcA0xgVa8r2FfauiThrCDqaE2ruLJEn5scBVFxsU5UA5XM4Onmkbz8jbXsIV0LVfmTbwfdL=
oDmM8PIkAgNTUJq8yXLAJobeSKjKn0d6xnT3pveLNeqXVJmQ9w-2BQWIhcemsgkVp4iTDqUojKx=
OHSqbj5As146i9f0PY7lMwF7PsIL36-2FOBaa2on4cQ5GYM-2FbJALIXStQX8sAB-2FyW9DcY-2=
BU-2FytBQNwdad6KtcAQrfdZ7kBjAVoqE4-3D" style=3D"color: #1D5080;" test=3D"" =
universal=3D"true">Huel</a></b>. The deal values the company at around =E2=
=82=AC1 billion, according to reports.<br><br><b><a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxZTLWBVZc00kUM9KCIehEUA-3D-3DA8fr_I3w5d9c=
01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7Rhv=
JgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJ=
abwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2=
a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCPwpBw0px8iefz8UdWYn=
dCoB7PdmyJhZ5mvipjI7R0Q4x1eO2fuK6S5Sup3hsvkdVZMNrFm1cwHba9ofDV5fi4Te-2BGI5e=
0HZcKHnwlNWvhmVVwRYNlwPPd-2F5yymxvRmB1t6bbZRAqD-2BQW9DEr8bpzdckU7LirwcPvV3A=
oOtNWD2I8jI-2FY0p1c6VmFBkX4Xun4fhzm6hVBJVnSrqGXHj1CHs-2FCm28U22FSsxJVMmGYN1=
YXNAjxF8Ob9IGxhLUE7HKW754Ffaue96y50rErNTn80-3D" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true">X-energy</a></b>, a modular nuclear reactor spe=
cialist backed by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc6AhT3bxeARfL7tU4=
oFBxivNKhYD2UWA-2Bxdf1gH8rYA-3D-3D3RV8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBR=
FCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoo=
rdl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4=
FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f=
-2BYis3RrRq5zUTNPRo7niUxYhP3b8XXivGx0f3E8QW8QRXkjZw-2Fsxn5cWRzBI7JyJKvXOLu1=
LwONIaiZWO61-2BeD-2BkkOFcDLcE2Rxy2zL-2BxgqGwcfhVcNu-2B22tcj190vA3Zk88CwucOK=
QeKV8u1uHLmdIwaRhBwK1IQyQf63LNDbMIE-2B8pzg76VkY-2B9S8Fn4UlgQgYzeFNf2M-2Fc4Y=
7Ph3Y14vjd8jSR4NTgqXSivvtJXq5XQNuM1rV-2FEqMYUXYLmbXz9-2B3rGae3GdG9xBxgZF-2B=
3vhyBS04gH8dL-2Fs6dOkvRQ4oGk-3D" style=3D"color: #1D5080;" test=3D"" univer=
sal=3D"true">Jane Street</a> and <a href=3D"https://url6380.news.pitchbook.=
com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc6=
AhT3bxeARfL7tU4oFBxSnzuECQTsCceh-2FohBzzl5g-3D-3Dpq17_I3w5d9c01gkD8gLzFEofZ=
R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcM=
A1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxR=
Ip0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nm=
uQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhIbjjL1fO6s6T4X3ZpaqdCetlmPTkvhzOGi=
xXgcOJ2wSZfLLmpSPNuZQyjOK-2FJVz9Dey-2BYCQMq0w0dWcm6Om7S-2Bkw67UN-2FQnIkyxaj=
9ue6klmpK2DybsXtRrIyMMZy63RY0U9y3VB-2B2YGlE-2FIeWA-2BDSTdLeQ8l3tQffoGIOptrl=
H8PZLqa7lkSUfEhXd9-2FHycV35T3b2-2BnocsTSCszBIlNibh9FnWyoY1xoDgogN1J4zOHAShh=
Prcgu3zlLOAKWTlb43nWl1wi-2BYdQOwM1kZnuI-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Ares Management</a> , filed for its US IPO.<br><br=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc6AhT3bxeARfL7tU4oFBxFbVzZ2mAsUjld=
3bQVNg-2FpA-3D-3DQX08_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb=
dWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGk=
svZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2z=
a1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNP=
Ro7niUxYhK08kfMri9boJQl8uflbpmEnYs-2FwcxIp69UWQyij-2B4kvwGMpIzJpEXkyQKdVM7M=
XqDNXYrSX1Q519QMj7i-2FJZcbzQ-2BaIy456n2LLPq1KtJDki7opbpVlELwS4NwXL0O8ytD-2B=
2TAoiydstNQgSVya7OhgZ19l0fzJbSEfylEMgFIhznooIwbfJsunS1MUjtR0SHAiLP0qR7Ps55S=
QsOq69Adjmj8x5YAF-2FVYFJL-2FTBEpTX8K-2F8pOwBJ-2FqXftmrRpa3NMOwSRBbH-2BQASdI=
s-2BUp1UE-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">The Ri=
verside Company</a> is considering a sale of digital weight loss company <b=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPg3d1hrK4o-2=
FiPtyBjXAgs-2Fw-3D-3DU8mn_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpP=
PwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxf=
TL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5z=
UTNPRo7niUxYhEDfQ6b8fthAw-2BaaayJvrKBsq5R1hTYLrW4e-2B2y-2BinOOIu0h87qITRdti=
g1T4kT03z3FrVDH0F-2Fl5qGRLVTq7Jn1koUu66pes7Dn4x4Fsh3-2Bk-2FLMObRaJ4KTq4xHkh=
ppQ-2BluXI-2BXl9AVhYN87k2OI3Gzi1YF4lkj7UIXlOi-2F4XFD3ZZO-2BsGiGMkUq5eRGvbGh=
hpLr2unIGFdJKfNAiB-2BIfNUIY6toYtJT4Vx8yDNMBrGLEmayZptcId8tKghlMxFwFqds3RtFb=
vt07HoiDuNgOo-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Wo=
ndr Health</a></b>, Axios reported.<br><br><b><a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPMeavvgIKpjDW0lRIR-2BecPA-3D-3D02bN_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7Rh=
vJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZM=
JabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY=
2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEE86F111BE-2FiYa1VL=
n6Kd3CjqyD9SKJ0Qloc-2BLMDWgm67gVLBtokItxG2N6WA7KZsVx41ikskfkQsO9s-2BC87RHl9=
376CmPfgU8quR5iB92GZLiuiyFrXpVzidRHsV1VxisIMvJKtTwVAfy1CSkjWe75qpTmMgXF-2F0=
0ac4QY6-2FOQL6dUwqv5Ox-2BaxGrErLRHOdr7zvj8FVWzFiw05c1d643dBCjcoeB7nZ9ArtpTj=
KMQlFcylzMTCENkwoWV41mTtgiDxCrNnKjDkJAXoKj2WBk-3D" style=3D"color: #1D5080;=
" test=3D"" universal=3D"true">Ninja</a></b>, an online supermarket special=
ist backed by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up=
n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfS=
gP1klH4E8W1Qt9Zsdc21adlw-3D-3DDWCE_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfm=
zy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4=
h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIv=
aUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BY=
is3RrRq5zUTNPRo7niUxYhBMeRF369USdRI-2F7NMLW28ftAGBzijP4UuxzPMS2ROKXxLTMO4WO=
1RZ4-2FDG7oY6OrvzEIMNrMp8YmQMSUpX-2Ba8KGZIJA3xylVZ2XLwpYwdnUPC9Cn3RPemDxXRL=
QfloG-2Blt5cva6cFjythltdhKbisNVQwxa7UxjNpirM32b4H31HdChtfejvXvnePBThUjERvkg=
InQ2gPu8UN3O3MmXTjt5rQiprv-2B27jvZH0-2BtgvGor6dPaFVa1a0mIAYt8ZWejy3L4Rx6QSK=
-2FJgTTLwUEuPc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">R=
iyad Capital</a>, is considering an IPO in Saudi Arabia, Bloomberg reported=
.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du=
001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPBNP=
5QqzXY4-2BTNlKimCIRxQ-3D-3DqWr4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-=
2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0X=
AWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUq=
LhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3=
RrRq5zUTNPRo7niUxYhKldX1cQoSKBohkUGaP8snIXX2bNkt8x-2BkTR-2FwTidOtL2uGGFd2nW=
n1r8HdbEuGW2dJc1adpUO2FFcyyBS2SXD79zzy9SOSDKfxt7ZRJEDVLjY2GNY8kfdFgVIecHuqP=
P5pJQh3iw0MzrbE4Sk14hGbh1k2-2BbQyibNIvekTe1JBYV7f-2FjG1kejc4DUDwnoGaU5dc8Sf=
2UOcaBTqMac4Uq66qkYOnZvcoNIY-2BnmischAFqzAD8-2Fo1zpELruT8i4x-2FquPTr8xtpNYr=
vtY6jVFSFpI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Sove=
reign Capital Partners</a> exited <b><a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zXjpo9g3PltQjg-2BvYNCfSgPLc5T4wEhJ-2BVL30tascmTUw-3D-3DwpD5_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezP=
zJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F=
-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5=
ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhGMoK9Kq838bzN46uUnDwaRS1eQ3U=
1FtK7e-2FvocvhMWh53igTx7BBS6Vzg5Q4mzhJxDEmqF-2BzrXuYc-2BxADnmxhIJEcwaH4C00J=
IoHZGJebaj0Xyyf16T4cZ1FgHVoMtxWplikZ4eIMbI3oyhDilES5C8nYWxJDbS-2BuBcxouB0rG=
nM-2FXRjufGd0qM68aWKEmUpN-2F6znA0qd8SY3pcHR5Ti60VHVoIhDU1fQJDsEr-2BRVBziJfb=
wamyesdUEXqzgZ8Dxvdwy6eIbJnZK9jKU8Dnkpg-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Knovia Group</a></b>, a UK-based provider of appre=
nticeships and commercial training, to <a href=3D"https://url6380.news.pitc=
hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw=
ouzXjpo9g3PltQjg-2BvYNCfSgPFZZbokgNTsIHmSXY-2BAT5Wg-3D-3D2teo_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqe=
zPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe=
4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2=
F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCKdAZQui-2F5g-2BrPWzxMMoIQ=
N8-2B-2B5iogUCVBC3516sJPEY-2BDfkZqTvr3rW6eF80lyYBokGlbdjL-2FkNuEUl7YZucwxmZ=
jLItJt1-2FqRX5lO6NlVdqC3wZU-2B8y-2B6mmBqq88k1L9zpsuL-2BNReyKreLv1d-2BGcHQyh=
XJy5cJ2inVXwH6qH4n1zjBI5NYBFi75BDQ1dxuTLQt8kTShyDhPED9E-2FE0U4foxrAOAGdPp-2=
BYOaeMqsW-2BBs8nm5bkJWm2q38-2BKIeT44TRJOlIFSDgwYhJjEIxRiQ-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Eureka Education</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgP9i5bsWqEQuEV0sI=
s2Ms18A-3D-3DlVXz_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu=
4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk=
0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7n=
iUxYhAuYu7Bhk5VktH8HOyO3dGJffl-2FHW5zNinPd38EPi2yffewzyRrawdZhqWYoOAHSRlJAY=
RXac3NvYZ-2BKl2rr9OdRktphnHqXteyzoeLcd1qbBMjO9YMwNmzYIv4PQp5t6BUAnWY5U2NfzA=
ZPznZwBKh2tIWJtoWTylJZlJPwuJDRE5V6nTLdTiI9ysY3Y0f-2Fx5lf0m91YFlDz6Mb5oLm2OD=
zUyd20U6bw-2FWnXOb3v9lpH2gn1OuE-2FX94VTiI19eBSw1RChiy-2BFAtDljfAnMFvd4-3D" =
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lead Edge Capital</a=
></b> raised $3.5 billion for its seventh fund, which is focused on the sof=
tware sector.<br><br>
                               Solo GP firm <b><a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPVw4JzasA642f608vLJL3vQ-3D-3D5XZ9_I3w5d9c=
01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7Rhv=
JgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJ=
abwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2=
a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEzyCn5h8XAwteDT4SPaX=
0D7QgI3KzYrNFit4xxSBoJe8Ps6n4hucMkjElhtodmCbDAg-2BaHiBFEq-2FMTPFGp-2FTA2GeQ=
dU-2BEQS6RX-2FTo7LZnNq-2F-2Bu-2FVYeG58-2FhlpwBBFXG2b-2BtGeKV-2BgOj4CX6SMfaM=
d8xMZe5dMJ11ZRrAeYws2mcHahfq5DNG4ErFoD23ajmUxl8vHF1YrDY40xkqkaPj98n7wj84Pdq=
RGhKzn3-2F6EbNWqr8kgwpSCPKldGYDa8vsP340rMMjmUKUEfzUKAqIrU-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Air Street Capital</a></b> raised=
 $232 million for its third fund, backing AI-focused startups.</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPNTg6s4i=
xcX3D4GkTa9pLiA-3D-3DWSWk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpP=
PwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxf=
TL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5z=
UTNPRo7niUxYhBqVUc2n6XtLOBw9GMDyT6KYh-2FmpgfU4NQlUbig1NLKddKCEpYLmKO8oYpt1A=
o1Mj7hNexRRZrxNOPRngT4WmcLvr-2BobGbLmUtvPQOHZQ7xostWC-2BxYXoASXDKS989eAA2nm=
QiEC3qrB-2BnAn5SVACd2bBL5zOvYX5tf7CW4g0b0fgmGDLGqRgJAvPwMI0-2B7eubDUM85Iy4K=
O9O2AB-2FChr4twp3zN-2F7qgtVBxhLF1ZH5-2BKbs5yvQ1wQgGh80i16tGUyaKyb1fpji5Mqsi=
YNUvxvw-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https=
://img.pitchbook.com/news/73418.png" style=3D"border: none; width: 100%; he=
ight: auto;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">VC inv=
estment in advanced computing accounted for 86% of deal count in Q4, yet on=
ly 16% of deal value, well below its historical share of 29%. Of the 293 de=
als, 251 were VC deals, with PE making up the remaining 42 and accounting f=
or $44.9 billion in deal value.<br><br>
                               Source: <b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzXjpo9g3PltQjg-2BvYNCfSgPNTg6s4ixcX3D4GkTa9pLiA-3D-3Dn5XG_I3w5d9c01gkD=
8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumq=
ezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJG=
e4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-=
2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhCP45-2Fh8E6vwFRSt-2B0Qup2=
fScguPi-2Ffuy6mflMq47szxMuIeGhtDa-2Bwf3JpQHiaX4gTmVNJGHuL0xITxMZTsYObEX9Is3=
bzxF966r92VFseDXxNbv2sY8BbOUsVj69tgTwbj5G7js2m6DWRQunW7PEOB9-2FYBpX-2BrlbwM=
jEZGajuqo1KXUV-2BilYzFS-2F15sxhmDskkt-2BJyS20UoCP61ilyhhn992YP5E8abaBiu7hpu=
bjQB5JfCQF-2FLpBhcQPh-2BXtketS2EytWsZ51GX9htQ64Eu4-3D" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">VC may dominate AI computing deals, but =
PE supplies the capital</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">&nbsp;</td>
                </tr>
               </tbody>
              </table></td>=20
             <td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r=
ight" style=3D"padding-left: 20px;">
              <table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
               <tbody>
                <tr>
                 <td>
                  <table lang=3D"x-sidebar-block" width=3D"140" cellpadding=
=3D"0" cellspacing=3D"0" border=3D"0">
                   <tbody>
                    <tr>
                     <td align=3D"right">
                      <table class=3D"desktop-only" cellspacing=3D"0" cellp=
adding=3D"0" style=3D"border: 0; width: 100%; min-width: 100%;    =20
">
                       <tbody>
                        <tr>
                         <td style=3D"padding: 0;"></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0; height: 20px; line-height=
: 20px;">&nbsp;</td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
               </tbody>
              </table></td>
            </tr>
           </tbody>
          </table></td>
        </tr> =20
        <tr>
         <td>
          <table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad=
ding=3D"0" border=3D"0" style=3D"min-width: 100%;">
           <tbody>
            <tr>
             <td width=3D"460" class=3D"container">
              <table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" bor=
der=3D"0" style=3D"min-width: 100%; padding: 0px 10px 20px 10px;">
               <tbody>
                <tr>
                 <td style=3D"font-family: Roboto, Arial, sans-serif; font-=
size: 10px; -webkit-text-size-adjust: none; text-align: center;" align=3D"c=
enter"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXjpo9g3PltQjg-2BvYNCfSgPYSp7GfWGw=
eN6PsYHzUmAAw-3D-3DHu7z_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPw=
GksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL=
2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUT=
NPRo7niUxYhKY-2F6pgsEas-2BK64rnQ3gmLbgHpUklBeDSMk8VJYN8Nvhtgr1I07jQga8qOlUA=
seyyoN6TPum36RYWpt1XTZ9ixTytc2BCE6OvQg8g7eBGQtFHH2WeZgMuHcsleijBEdicqkpmsQm=
7lgkbLwRcEp98lysXItlBZsmUWBI0uZCxC6e10pZgPXF0qmu-2BUZWlwAqDvBu4cVJxtx0IvfuQ=
Ero6L4DVxA4MY4PHs-2BzNLKdeiJt9eReYSI7s7r18AX-2FuzWhHTW6kPNlgjsDFMrL7iyk7Io-=
3D" target=3D"_blank" style=3D"text-decoration: underline; color: #1D5080">=
About PitchBook</a> | <a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVkJOnVoZXqv2o7=
e6v8AroxK7kHCpFT8kAmVVKkPVpKOA-3D-3D9e05_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx=
BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFD=
oordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4In=
n4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU=
5f-2BYis3RrRq5zUTNPRo7niUxYhLhwRMb-2Fu57kyC8zE6edFapdhBGSZmyXTtWUrRH7-2FtjJ=
8Y8CZEMbgInWZ8LXCECShy1MX58oOCRokseuDego5cKFgkh-2BXQW7IBVmmOZ6qEV7E-2BrhXyg=
kYX9uT1KfXGSJLpPTHmbBahCiLWeEPpb40GMNCzJuOLAPn6mvx44ER9OikYKPKSiW9NwUxirY9C=
-2FiBsjgPNNfqnz1kXvY-2FKEwodiibWQxU7DIbxPHDGh1yLeQeQCFHyr4ublOJSmlYV5P-2FO2=
pjSL-2BNVaNU9pBJ5ORYTM-3D" target=3D"_blank" style=3D"text-decoration: unde=
rline; color: #1D5080" universal=3D"true">Terms of use</a> | <a href=3D"htt=
ps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6=
GFa-2BaqM7ONnvsnswouzVkJOnVoZXqv2o7e6v8AroxsAfD6Q8VWWYfAWbEnZcIPQ-3D-3DEh-m=
_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKl=
zNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsy=
vViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6=
MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhEjrLN5FdLKjN=
kfS0megj2jwksq8h2i-2BEi-2F2SEphCgbU7Ea6Zub0E7MtYxzXKPLFOkJ0mbJFnVXcCf3oub1k=
d-2BONmgP1bHDRQLr-2FNBl-2BWGzW-2BImAg9Wffh3jBr760b1dauyk6UwL8VLsMMZz4w08nvF=
p4PCewkjY4a-2Btb1KZU3HOwdZZolKEGSlQhKYLYA4NkfRh6-2BI4co0Hpwzar5-2BtKqKoCljr=
4L1Z5YwMqJwnyWRSoDZTXGm09EGOUyOFcnW4olYD5Yq-2BzfVHLNpJPW-2BWMaA-3D" target=
=3D"_blank" style=3D"text-decoration: underline; color: #1D5080">Advertise =
with us</a> | <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up=
n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVkJOnVoZXqv2o7e6v8Arox=
lH3tW2coha0ZAkL1o7XshQ-3D-3D-ioM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy=
-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0=
XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaU=
qLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis=
3RrRq5zUTNPRo7niUxYhGy6zd3OHM8FtwpEtuhjDc2xmLCxfibBhwPML4YGGjR1JbjerKoXclIH=
dn-2BUdi5YEcEXT-2BQyM6D-2F51LraPeNl4bI2dWiuIi-2BTpY6lI-2B9dGArCAE-2FyX77zUD=
8zZxA4ZTVOKFdqvBOXZ3EgSMBaTelCKddzsq88CrvscU0T6-2BpYFjgOgzjfrXb8HRoSz-2Ftj5=
yB-2Bd9UGqa8EszMwWpnW2bI8I3CtP-2F950GoQaUtLqAK0-2B7FdwuNYOTQY81MqSRThwGBu3C=
ndEN1R0oswl9NZ6-2B2SPY-3D" target=3D"_blank" style=3D"text-decoration: unde=
rline; color: #1D5080" universal=3D"true">Contact</a>
                  <table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0"=
 border=3D"0" align=3D"center">
                   <tbody>
                    <tr>
                     <td style=3D"padding: 15px 0 0;" align=3D"center">
                      <table cellspacing=3D"0" cellpadding=3D"0" border=3D"=
0">
                       <tbody>
                        <tr>
                         <td style=3D"padding-right: 10px; font-size: 10px;=
">Follow&nbsp;us:</td>
                         <td style=3D"padding-right: 10px"><a href=3D"https=
://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzVkJOnVoZXqv2o7e6v8AroxaGqqIY38pCjOY2kHu4Hheg-3D-3DC7wH_I=
3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzN=
Te7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvV=
iIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MB=
GCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhJ8OAr3u9LSS91O=
1QUJFk2UhW7Bd1k4toSbBy0ZMvYmEtlam5wjV7JAesiSGch9CCg4eRrmpzZAj6YRwi60r0s6C8t=
v8PHNq5gbrBluasINfdmQVz2juOBL-2Bh7z3LCfVld9osSfkPEam3-2Fzwu6crpqPF9okTHVgYk=
H3SgXkMY41I6CI7TdfKhD1pf9k2TSjMkftGcU-2FzrUr-2BcbShguUQoPtOB3dZtITw6Ry-2FxH=
MK0BpRNQgboSH-2Bf2uciL6ToZ4-2BfElhSDgkeWemERw-2B6q9LbCM-3D" target=3D"_blan=
k" style=3D"text-decoration: none"> <img src=3D"https://fonts.pitchbook.com=
/newsletter/linkedin.png" width=3D"25" height=3D"25" alt=3D"in" style=3D"bo=
rder: none; padding: 0 0 1px; vertical-align: middle;"> </a></td>
                         <td style=3D"padding-right: 10px"><a href=3D"https=
://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzVkJOnVoZXqv2o7e6v8AroxlqWVnWaxbCt26CjRZzBEtg-3D-3DMVCz_I=
3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzN=
Te7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvV=
iIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MB=
GCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhFMnmiAvAunYuKv=
wiKCX4Z0Cimx8WRFmlGCWGt3f6dN-2F-2B2EI0HzHZa-2BBX7HYkLeTGdibsaUsnmA7row6JDfd=
RMYmbkWOMY3m6DOrSDLo1b7nYtc0Au-2FvYoeOZgMYewI2mAyDkbOU6-2FaZa2Pf4q6Xiwr5Nnt=
voKpzr22-2BByePYkVu8Ku4bmZgkrZjldBv6UjtTKZcYAafHClT2DWK6MyyE53Flm6ygoOSRDlp=
DusNeN2fDmQUTC24-2Fjclx94TQc6IWlhczkN0e6wSJ80Hb-2BrS0EI-3D" target=3D"_blan=
k" style=3D"text-decoration: none"> <img src=3D"https://fonts.pitchbook.com=
/newsletter/twitter.png" width=3D"25" height=3D"25" alt=3D"twtr" style=3D"b=
order: none; padding: 0 0 1px; vertical-align: middle;"> </a></td>
                         <td><a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVkJOnVoZXqv=
2o7e6v8AroxDMjZqwqVyIEc6ry1lwmTJg-3D-3DO2md_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfR=
mFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf=
4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetB=
igU5f-2BYis3RrRq5zUTNPRo7niUxYhNkZKbeWmn9R3svWu0XKHtIyvd0YsM1P09tIcqpJFOM09=
Fk2XI-2BTSOPTVG59IGKJ8QRQPLh8qcM73h0knW-2BA5t2-2BgpoTt-2FyMu-2Bf8-2B4ARmNDL=
H8S6-2F2x2Dy2bn6Ap007Vhp-2BejtnUV0lpaHQS4doDWsAX5r9KGiJSmy4EAvp6wEDLldoecmi=
85q-2BDkrQvKdLf0gzJahBFdSYHif1rhTleSK3Wb11qbN7noKiDslfdxGtYD73Oyk2LosIplxSX=
-2BTKRct5948mKsG8eDq5iYyrFVMc-3D" target=3D"_blank" style=3D"text-decoratio=
n: none"> <img src=3D"https://fonts.pitchbook.com/newsletter/facebook.png" =
width=3D"25" height=3D"25" alt=3D"fb" style=3D"border: none; padding: 0 0 1=
px; vertical-align: middle;"> </a></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table>
                  <p>This email was sent to <a rel=3D"nofollow" style=3D"te=
xt-decoration: underline; color: #1D5080">most@ponjosonek.com</a> via the P=
itchBook Platform.</p>
                  <p style=3D"margin-top: 14px">Click <a href=3D"https://ur=
l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx=
1VdE7sYl12opJBSgX8wjgWQkjpY2yE70mtuFtQh5JMynEp-2F-2B0ZsygXiW0dASWMAkXrIC3kg=
-2BeC0SuDoyGjKHmOSdfo63E0RLyaXhmtZcu9qypgyxWwak1NhA0coLyWLpIGucErQpvbIjaXQ-=
3DeZdo_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF=
ZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8C=
qDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZ=
cugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhBmsrfL=
GHPKPm58n576L2AaocHg6-2BXuJEVvPSfhkWdKkNYLQR-2BEbdc-2F6Pf1QpYYkvt1j1UCszkpc=
pjbbpqHL9T1R4dAy0BNo-2FUB034W448tqUud0476aIKZcOZDL7fA71PnRwXdewn7KS-2BKfgYT=
9XWH6c0fZie7tCxRuOfuPzPsWXqtuL2W14-2BAYXUOvBLUyJxt1Bdc7QyKipkNk10Ejr8UfHOZ2=
TR-2BV-2F3GF9vAgepyM3mlWs0r337elb8d-2FU9N5i0f-2FIBN0QsAu6zOPbgA9jzM-3D" tar=
get=3D"_blank" style=3D"font-family: Roboto, Arial, sans-serif; font-size: =
10px; text-decoration: underline; color: #1D5080; -webkit-text-size-adjust:=
 none;">here</a> to manage your subscriptions, or if you no longer wish to =
receive these emails, you can <a href=3D"https://url6380.news.pitchbook.com=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrVRvnzbxJbWwDftsHe-2FnJ3PNCbp5fVdg=
UVvM0uKhBfShb0-2FXm4f84Oam-2FsIf-2BQHY-2F9cBWz93zxOvFSzafZw8LoNeS7HBprvPhxs=
RX659VZdcmKyMzD4eMk3ZOd-2B-2B-2F0Y7oCpRRexO3AXTn7AxiLzOJmi1BNthQ7l1V7xQNEyy=
ozi9x2g4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pz=
sFZU8nKlzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx=
8CqDdjsyvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KE=
uZcugZV6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhM16L=
MypZM908hB8n49jq8Y0Gm3SyoPLGAu-2Be-2BoBXe47xV2sffuV8hoq5z-2FxH51QIRc7sOkiSK=
C0af954BenIDFEZl0XNqz3e7v9zFVoBpdtDCetdwzkuP2izk6Lyl0WhQRyIQO7DyduYgFUDnZza=
3rPCDBXnmhPd9SQ-2FmlV45NGs-2BLw-2FF1aHejaJDPA4lxsW4MZ3ZSuvlgbxf0fKp-2BnxRJd=
5jxx5vIvV2gIJLRbEFh7-2BTM06zzxoXzQQkoq7ECenGlHwdnNfq1AbqokF7AxzXw-3D" targe=
t=3D"_blank" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 10=
px; text-decoration: underline; color: #1D5080; -webkit-text-size-adjust: n=
one;">unsubscribe.</a></p>
                  <p style=3D"margin-top: 14px">PitchBook Data Inc., 901 Fi=
fth Avenue, Suite 1200, Seattle WA 98164, United States</p>
                  <p style=3D"margin-top: 14px">=C2=A9 2026 PitchBook. Win =
what's next. All rights reserved.<img width=3D'1' height=3D'1' opacity: 0; =
style=3D'display:none !important; mso-hide: all;' src=3D'https://my.pitchbo=
ok.com/ms/pixel?userId=3D3DABLZ54MOPJL5Q&eventSource=3D3DZQDXJQ6VUBAECQE7XY=
5D5PSLQI&emailId=3D3DTQ6CKBMFK5AKM&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL245ZG=
625LDUYNYOD6M6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DPED7RLFD4GN3BVMRTF=
QEHYZOOJCKA34MS5JA35Y.gif'/><br></p></td>
                </tr>
               </tbody>
              </table></td>
             <td lang=3D"x-sidebar-place" class=3D"side-bar" width=3D"160">=
</td>
            </tr>
           </tbody>
          </table></td>
        </tr>=20
       </tbody>
      </table></td>
    </tr>
   </tbody>
  </table> <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSrnS8sfA-2FdXQL6-2Bsw8UD0pK6q=
R_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFZU8nK=
lzNTe7RhvJgumqezPzJyDcMA1jCU7QMfRmFDoordl4h0XAWjVpPPwGksvZu4z9FCpvHx8CqDdjs=
yvViIGZMJabwJGe4F-2BRxRIp0o8JzZWf4Inn4FkIvaUqLhJPxfTL2za1nk0tOvwA9KEuZcugZV=
6MBGCIQY2a6VY-2F5ebe4nmuQkIujFetBigU5f-2BYis3RrRq5zUTNPRo7niUxYhMg1KFmVpXHo=
4q1qiy6lr9WozypKaIqUmt0YaaFEQsg2-2BqVUVgmvNDo6hnqi9swDlFVejyEF-2Ftr3V3FSxue=
CJC-2FHE1HDY39LM0jFBtHf8w1o4udZk1GcJkhM5mwCZSRgTbOAeKCVZZrhm8X5hwQnP-2BiK-2=
BWJgTrytjclDkZpHkTz0mG-2BPnq9IuMInecP2EPMxqPQxOY6srVMaoMjomfMKlD4TQoRISD4Yv=
m1pfNA4OTqHdjsTz5DMkyGCpJ6Wg2E250k9pvf3RZociPmS82hihic-3D" style=3D"display=
: none"></a>=20
 </body>
</html>