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Delivery-date: Mon, 13 Apr 2026 18:18:25 +0700
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Date: Mon, 13 Apr 2026 11:17:40 +0000 (UTC)
From: PitchBook News <news-noreply@news.pitchbook.com>
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Subject: Energy funds beat the odds
To: most@ponjosonek.com

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=A4=96 <b>AI is eating European VC.</b> Investments in AI companies reached=
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                         <td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_579687" id=3D"n_579687" 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%;=
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                             <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;"> Funds investing in the energy =
transition shattered records in 2025 </span></td>
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                        <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%;
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                             <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%">
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                              <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 =
Anikka Villegas, Senior Analyst, Fund Strategies &amp; Sustainable Investin=
g</i><br><br>
                               Conversations about sustainable investing ma=
y have quieted in the US, but the amount of capital raised by funds that in=
vest in energy transition infrastructure=E2=80=94both exclusively and along=
side other sectors=E2=80=94speaks volumes.<br><br>
                               In 2025, infrastructure vehicles investing e=
xclusively in the energy transition space raised $47.3 billion, according t=
o PitchBook=E2=80=99s newly released <b><a href=3D"https://url6380.news.pit=
chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzXIWM-2BxAgwKuVGPz9V7IxGHK1GG-2FdwOkwZODzTXvFI2-2Fg-3D-3DBbFX_I3w5d9c01g=
kD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp=
8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yIL=
DiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-=
2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0odj4MKPXA3KU3fT1IS=
SveVczxBiSoWkeeTyyTE-2BqqfZmtHRLuN7kzbrQUnM70Upr2a9NwU9h-2FLQIYv8jrawftjYTj=
DMD3MgnvwdCREg6RSwFTyEX4-2FOov7BXf5TA7a6U3hWjT0t79N1zKUDyWIXj7C9Qt8oHFnrwnL=
LqA5-2FMjKd-2BqXw5Wcw7JLBZmNfVNZyAAp3wntQkFJ1QDFjx5BjOtXQ0iLBp68kaJ1-2FVJOu=
z0ZA8Imm8zHX3eKBCc1s8-2Fe-2BUJD0QtCubuPO4evu-2Bg4T9Dv4-3D" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">2026 State of Sustainable Investing =
in the Private Markets</a></b> analyst note.</td>
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cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
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                              <td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVGPz9V7IxGHm9vuwQO=
BjokEBMTOY366fA-3D-3DDOXx_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfD=
Kw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ=
6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Lj=
n-2BshVAyRUm6CR9U0oQXVuw5SXAl9gelIyFBYlww5HOdTOv5zJ6HjU4E-2F8ZbAF65kEdKLGrX=
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2FE-2FOXQhUsibApOMADTkXfa3MmNv5aWQrQrblIBTfeFyXBeiyPnEdmgBFniwR1LJfarPQsIRy=
iTd7Q9GrY9Z0MDhcRcuBIGMtANiSWB9VWPHb4n54Z-2Fkk51mVOIMFlqYKbGb8ZWoo7Zq0gGa5p=
9SSdkUcRu9YHw-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D=
"https://img.pitchbook.com/news/73721.png" style=3D"border: none; width: 10=
0%; height: auto;">  </a></td>
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>&nbsp;</td>
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                          <table border=3D"0" cellpadding=3D"0" cellspacing=
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 ">
                           <tbody>
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                             <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>
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                              <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">When a=
ccounting for commitments to funds that invest in the energy transition alo=
ngside other sectors, such as digital or transportation infrastructure, the=
 amount of capital raised reached $171.5 billion in 2025.<br><br>
                               This is the largest sum ever raised by energ=
y transition funds, and the record was broken during a year characterized b=
y fundraising challenges for most of the private capital markets and a poli=
cy landscape that was complex, evolving and, in the US, rather hostile towa=
rd renewable energy.<br><br>
                               So, what was driving capital toward this spa=
ce?<br><br>
                               Energy transition infrastructure stands to b=
enefit substantially from durable structural trends tied to electrification=
, digitalization and energy security. Power demand is growing sharply, driv=
en not only by consumption from AI datacenters but also by other factors, s=
uch as electric vehicle adoption and advanced manufacturing practices.<br><=
br>
                               Conversations with fund managers and limited=
 partners suggest that the positive environmental and social impact stemmin=
g from these funds' investment activities remains an attractive selling poi=
nt. Many investors also express confidence that their sustainable investmen=
ts will provide robust risk-adjusted returns.<br><br>
                               These dual convictions help explain a spike =
in commitments to private capital impact funds, which raised nearly double =
in 2025 what they did in 2024, driven in large part by infrastructure fundr=
aising.<br><br>
                               In our 2026 State of Sustainable Investing i=
n the Private Markets report, we identified a baker=E2=80=99s dozen key tre=
nds that we expect to shape the space this year and for years to come, touc=
hing on AI usage and sustainability, defense, DEI, greenhushing, impact fun=
d performance and more.</td>
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cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
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ated article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c=
lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVG=
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RUU0oYOTH4HvMKH1nYw2ZjWmDCouF362XrCNrryW88dt4Yr543AbRCmKFgf8UCsddzZ4xlFI6hF=
cyqPljsD4viJLMURFjjHdSKdQ6bVUlv2KT6Itc5BNB1-2BEE1a0M-2FMJX1kAWP8ARwT-2FsVf5=
4NRNIQ6olutsh7dQCg9VcuUJuWVfdGIrJ-2BNWd8Mkwx1kf8dip3MmiBT0YEtcKVymhtVm35kjd=
K-2FeMtOMVnks-3D" style=3D"color: #1D5080;" test=3D"">Explore advertising a=
nd custom research opportunities</a></td>
                              </tr>
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                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
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                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                  <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;=
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                     <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>
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                  <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%;">
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                    <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%;">
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                         <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>
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                             <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;">=E2=80=A2 <b>The SPAC=
 market is ticking back up</b> as companies in hot sectors turn to such dea=
ls to capitalize on their moment to go public. <a test style=3D"color: #1D5=
080;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVGPz9V7IxGHZo1MMsAG9=
VN805o5iH-2FJgA-3D-3D5Y4y_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfD=
Kw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ=
6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Lj=
n-2BshVAyRUm6CR9U0ofVw5pomD3aeONEUvdFAnBRoeTexIwlD6nyWH-2F9PX0UTgOJ3Ygs-2Bz=
I68i30gvrv6fD5O-2FhUzs-2Flr-2Fn8aUiFdjlWc5w7few2Dic38BNHFyT8W8EPQDJHeqkyr9A=
LcqBF-2BT17irA-2Fnw9hKkvGUsq1K43CcObEimXoKpq5gDYhcsSznG0OogEvfJ2Z5F7UPYJwIS=
AuaTrpaqHiBGAZI6eano0IZu9UrREj4mW3IUskvMWelPCZ5ET04dQOk9gVRbu2MsqDfI26mhQ0a=
x35zg01rOB8-3D" universal=3D"true"><b>Find out more</b></a> <br><br>
                               =E2=80=A2 <b>European venture debt investmen=
t is on course</b> to beat last year's levels=E2=80=94supported by AI deals=
=E2=80=94but interest rate fears could still <a test style=3D"color: #1D508=
0;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVGPz9V7IxGHhYF9sG6cI3r=
m-2Fx2346velw-3D-3DquBt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw=
3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6g=
U8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-=
2BshVAyRUm6CR9U0ocN0PjrwbxuPjHNH4Gp-2FTsIuO5QVs-2BOaSdkwMK1JT8U6z9D5wzNf9vj=
YJwucdFJO9aJIQX0fbNBJW33YR8JlUDt4ID4sxj6L5NRJWwW2xGLGqD92ghGYiP67MWrkCmgwd4=
MZuKjF03nqnYFVZK0XTjAwPvpTLifga7RFFAWZ8kyUMbcp0dusg8HB78jmoeZN2tHOZZChSPlNs=
TI7EP1-2BqW2sHoSgcso5J4STLd-2BaDnwgSTfePkFNPGh7cUsP-2F2tKcpJMc1XGCrL1p4Z7N0=
WE3NI-3D" universal=3D"true"><b>kill the momentum</b></a>. <br><br>
                               =E2=80=A2 <b>Europe's sponsor-to-sponsor dea=
ls</b> surged in Q1 as exits dried up. <a test style=3D"color: #1D5080;" hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVGPz9V7IxGHQoh7LbbsArJjjIgYF=
K-2FRQw-3D-3DN-x4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh=
4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf=
6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVA=
yRUm6CR9U0oUBVRrvLMe1-2F5eC5RMSozOH2KZe5n4Olo2WW0pq1YAEp0DjJ90v-2BpC-2BAygN=
ljMu7xxLnz1HN5LgL77Xdi5uovqPm5x-2FjC3ejBa0eIVe-2FL2vwR5XWzglkSzMaTUo4HEB-2F=
y-2FUYB-2BwZ9d0IFnzJDU8mlZGOP8iYyYnD-2F19P9gqLeLVjHmefCWSX49WJQSwrXFi0ld7qi=
nFJuHCf-2FNKRvT7mLALFUUj95hDezXhvCXau25hH7sBZbJByWSEhepjie9jobey-2F2F-2B0g-=
2BW4osHLSSJIHOA-3D" universal=3D"true"><b>Read more</b></a></td>
                              </tr>
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                           </tbody>
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                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
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                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                  <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
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dth: 100%;">
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                    <tr>
                     <td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
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                      <table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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                         <td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_579472" id=3D"n_579472" 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%;=
">
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                             <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;"> SpaceX isn't the only defense =
tech IPO that VCs should care about </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>
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                             <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 =
Rosie Bradbury, Senior Venture Capital Reporter</i><br><br>
                               When HawkEye 360, a satellite surveillance c=
ompany that's growing quickly, goes public, it will be just a fraction of w=
hat's expected from SpaceX's behemoth listing.<br><br>
                               But the market's reception of the small defe=
nse tech startup, founded in 2015 and backed by BlackRock, Insight Partners=
, NightDragon and Razor's Edge Ventures, will be an early indicator of what=
 to expect for public listings from other companies in the sector.<br><br>
                               Hawkeye 360 runs a signals intelligence plat=
form. It operates a constellation of satellites that detect and geolocate r=
adio frequency signals, then sells that data and analytics to customers tha=
t are mostly governments.</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%;">
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ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
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                              <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-2BaqM7ONnvsnswouzXIWM-2BxAgwKuVGPz9V7IxGH0CEWZ9J=
FtYEn0-2Fm3t6AuCA-3D-3D4QjG_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWE=
fDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsA=
iJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4=
Ljn-2BshVAyRUm6CR9U0odIVI9as27U7eBV6q-2ByZ0-2B3zNveDFqtWYYZSr0vUtUBKXaLFvjL=
URCeGQ2KkgDg7dFawwU2jAP2cIxeLyw9Zwsp6emNIyaA0kSckW8pmuCLZ-2BXUUL4eFVV2mY3dv=
TLglUGEqUvZ7aPguje1xNXC1lQkHs75VfWnhsscDizeq1UwNQOqUKTi6az9VKGxi2R3udGf849y=
-2F4UmByVQHGGgCLO9hK0wU0bNrA4DUXkmsUltJa9b2PD15ezK9yc-2FmOOeDVHWd9tJFef4YWW=
jvN45YbA8-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"htt=
ps://img.pitchbook.com/news/73731.png" style=3D"border: none; width: 100%; =
height: auto;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
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                              </tr>
                              </tbody>
                              </table></td>
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                              </tbody>
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                          </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">The co=
mpany had a tremendous year, per its S-1 document filed publicly Friday. It=
s revenue jumped 75%, from $67 million in 2024 to $117.7 million in 2025, w=
hile its operating expenses grew by less than 20%.<br><br>
                               At the same time, its backlog=E2=80=94contra=
cted revenue that hasn=E2=80=99t yet been delivered or billed=E2=80=94grew =
more than 6x in 2025 to $302 million. Both Hawkeye=E2=80=99s net income and=
 adjusted EBITDA turned positive last year.<br><br>
                               "The backlog growth is the clearest signal t=
hat this is a real business with a real customer base," said Ali Javaheri, =
senior emerging tech analyst at PitchBook.<br><br>
                               Overall, Hawkeye's S-1 filing paints a pictu=
re of a company riding the wave of booming defense tech spending by the US =
government and its allies. It said current geopolitical conflicts "may prov=
ide potential new opportunities for our business."<br><br>
                               How Hawkeye performs in its first few months=
 in the public markets will be a useful data point for the sector, as it's =
emblematic of the typical VC-backed defense tech startup. "They're still ru=
nning operating losses, which tells you the company is very much in investm=
ent mode," Javaheri said.</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%;">
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ng=3D"0" style=3D"width: 100%; min-width: 100%;
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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-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2=
xIVYRrtNVSHp6-2BPc2-2BVLJfZdNLwfw-3D-3Duzl6_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h=
9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0=
PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeB=
UsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oXyokr2qT8Gep91yux8GPI3cPf-2FFQzcds9n5P=
NphHld2Dwr6K9rsrUrT29pccTw0Y0YnglDYEorBBL9XOuPMqk029U0OVeD9q5X-2FhWS8OaASZR=
hotINlE90s3u66h3MaNAjHkByLLOWbi8Dma48EoSPD5NbK8J32ikTmLRUfbSJ551JLRF8J54Kd2=
56SDvQIH3baIlBUd6-2FEyNaQkAWNNreFCllaatzlmBuI2le7j5z6X7iPNlENDEETyVWjdXTu7p=
oTfV8nE1zf8feC85mZhI4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"=
true">Iran war will be trial by fire for missile interception startups</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>Some patients diagnosed as vege=
tative may actually be conscious to some level.</b> A landmark study found =
roughly one in four of these patients had signs of hidden awareness. [<a hr=
ef=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw=
7SpSWIrf6GFa-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2xIVYRrtgyndX1Hg4ZnOR3X3yGT-2B-=
2FQ-3D-3D1cRj_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa=
0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0j=
JZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6=
iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm=
6CR9U0oQco2gWHrL1YJ-2FmeHmi4Y9bQCMA36AYPhNAtqV3Spnn0P8yLw6Sjqt-2FayBBweDJG0=
bs4MSsq3K4uSTJiPZUPuNh3P-2Bl8whvIrRdxJHA0v75x1ZL7Po9h-2BhaFH8-2FpirpPerKNUu=
2nmh8rnH8KofXzLQx0S9DH4Ub5uAMvuo-2BadID9hIKlu97Unx32RPFp2AmuJ3sfHb3K23nbYww=
8MiMmBFkKtgzssE9NsWyUEHMzcseap3HYtGdlggFpLXbn2NjEczEnS85T24xqJR8Mj7CYshQ-3D=
" style=3D"color: #1D5080;" test=3D"">The New York Times</a>]<br><br>
                               =E2=80=A2 <b>The modern sports betting algor=
ithm traces back to a bored nuclear engineer</b> who snuck onto his employe=
r's mainframe computer in the 1970s to rank softball teams. His Las Vegas o=
peration made millions of dollars=E2=80=94and caught the attention of both =
the mob and the feds. [<a href=3D"https://url6380.news.pitchbook.com/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2xI=
VYRrtqODFp7o388j9fALNnROANQ-3D-3D8U45_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF=
Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5Cm=
O6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nm=
JvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKL=
eb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oVUOtA8dAgO1tlsjWE3GEp8p5xefs0LbRnAp4OhuC0Cee=
bJw58FN-2BP3lLj7Qn-2B5Cthv6F00BTGXwdwTgdZyMmQM4JCq8ROmlfNwI-2FVM3X-2FzIJAj9=
p8WNmSmGV1utU6ibFhavubTJ9RErraxjLFmwU6NCzOTf0yQp39xKg2NDvZjhlSbm3gzkJzhl3wx=
QSbDp-2FeN9Li4c1JXboRMt-2BzekGaxBdOXpGC6rUyin-2BD43tA7A9ReeAtNx8ab5J5cp82Iy=
CNSToa6gsqZ9OtICmLLcEgQ-3D" style=3D"color: #1D5080;" test=3D"">Bloomberg</=
a>]<br><br>
                               =E2=80=A2 <b>Helium is nearly impossible to =
replace</b>, and the war in Iran is underscoring just how critical it is. Q=
atar is responsible for a third of the world's supply of the element, which=
 underpins MRI machines, chip fabrication, fiber optic cables, and rocket f=
uel systems. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3D=
u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2xIVYRrt9riV=
LxZVNN2NPGnocDmv0A-3D-3D1KTN_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3=
t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWW=
EfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCs=
AiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ=
4Ljn-2BshVAyRUm6CR9U0oQXFsGuyicrjqZQ8jZMFSFyNJ973hcvc0x0qWHNwHGIojZICToTEQR=
xN3gL8qD2cnWJeU29NFxi0QcIWUAIE-2F62s1o00i0BGiTsLwjCgLWwxCKJI7cDTwr9tAXadNrX=
-2BJJfXWvCr-2Bq-2Fj0Xi6tI0dvMLOvmqk-2F-2FW7L2jGRH9JrvJN68Avw6LqugzKacKxdd6R=
ELv5XrM6ZB6WMs0gVAzdDYhyW57rHj4KzXB9cvpaIbelk-2BArS-2Fb7quVYuqtmDmbsjOSa-2B=
qfgCbWU0dCa4UQTNcU-3D" style=3D"color: #1D5080;" test=3D"">Construction Phy=
sics</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>
                  <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D=
"0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38;  min-wi=
dth: 100%;">
                   <tbody>
                    <tr>
                     <td style=3D"padding: 10px 0 5px; font-family: Roboto,=
 Arial, sans-serif; color: #78766F;">
                      <table lang=3D"x-counts-title" cellpadding=3D"0" cell=
spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
                       <tbody>
                        <tr>
                         <td align=3D"center" style=3D"font-family: Roboto,=
 Arial, sans-serif; font-weight: 700;
                                        font-size: 14px; line-height: 27px;=
 color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr=
ap;">Since yesterday, the PitchBook Platform added:</td>
                        </tr>
                        <tr>
                         <td>
                          <table lang=3D"x-counts-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t=
able-layout: fixed;">
                           <tbody>
                            <tr>
                             <td style=3D"display: inline-block; width: 33.=
3%; min-width: 33.3%;
                                                    text-align: center; flo=
at: left;">
                              <div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
                                                    color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
                              14
                              </div>
                              <div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
                                                         color: white; font=
-size: 12px; line-height: 24px;
                                                         padding: 2px 8px 0=
 8px; -webkit-text-size-adjust: 100%;">
                              Deals
                              </div></td>
                             <td style=3D"display: inline-block; min-width:=
 33.3%;
                                                    width: 33.3%; text-alig=
n: center; float: left;">
                              <div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
                                                    color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
                              154
                              </div>
                              <div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
                                                         color: white; font=
-size: 12px; line-height: 24px;
                                                         padding: 2px 8px 0=
 8px; -webkit-text-size-adjust: 100%;">
                              People
                              </div></td>
                             <td style=3D"display: inline-block; width: 33.=
3%;
                                                    min-width: 33.3%; text-=
align: center; float: left;">
                              <div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
                                                    color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
                              109
                              </div>
                              <div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
                                                         color: white; font=
-size: 12px; line-height: 24px;
                                                         padding: 2px 8px 0=
 8px; -webkit-text-size-adjust: 100%;">
                              Companies
                              </div></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td>
                          <table lang=3D"x-counts-btn" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
                           <tbody>
                            <tr>
                             <td style=3D"height: 25px; line-height: 25px;"=
></td>
                            </tr>
                            <tr>
                             <td align=3D"center" style=3D"padding-bottom: =
13.3px;">  <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2xIVYRrtx3zEx7IAqFmZ0SHzZLrO4A-3D-3DaZU=
u_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQg=
sYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u=
1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2=
bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oRIeeE=
DP-2B5QGgnQioxMPI-2BnOCvN40kGd-2FWEY6wJGnwv9E2Hd2gcY9MvAQf4An3ryULbcn6dvJTT=
ElgnOagRIA2XidWBMQbmqBgwY4Xyfl1yGnY-2BJZmDy-2FAL7vyExc0H2b7Com00RN7asIRxIj0=
vscjGRiaYESN9K-2FfDPVaQHsAAvLtqX9YFZTEJlwVlIKYS3ZnO2lJyw8eIgX15ICJQ8WtFH4nD=
fCmoGSZC2Y44nsjmn1xL-2FLU0bceD-2Ff1IDLZbyMQ64-2Fys6-2BudU-2FZMim-2FVM-2FOo-=
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_579689" id=3D"n_579689" 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 Nort=
h American PE 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: 75.2183908045977%; min=
-width: 75.2183908045977%; max-width: 75.2183908045977%; background-color: =
#1D5080;">
                              <tbody>
                              <tr>
                              <td align=3D"right" style=3D"padding: 0 4px 0=
 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
 sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">16.36%</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">21.75%</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;">
                              1.30x
                              </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=
swouzWM7LmEP5MDNgwv2xIVYRrtGeszhgAQR5yvjA5bvhyb2w-3D-3DG7xl_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv=
7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5=
DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2Fvll=
A0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oae7P4BZYWB3b11gekhJPPV=
x-2FN8XhzE6KKREbY4EeM2hWsdLChQy-2Brr5B5SxkP9Na1FeWBzQ05-2FDYG7kiRBtaKDfXVQg=
FIUl-2Fmn5lrmeF8OsmHi4ihIGg7A8YFh9aE33cwZ1uM40I43bY-2FqCtcPB7g-2F6Pyhr7VnfY=
HEO-2Fy5bdD-2FuPkVPpcHPoEx8h2vW2h-2BlbUVftyN63MJZPd5qyrhU3Td5xLZzflJXG2g8ps=
m5-2FfgSAne4HY4GFCJ-2FAvJzmWq9yAZOeVE3yzsDfe8dRsOPnyY-3D" style=3D"font-siz=
e: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">M-One Capit=
al Fund VI </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              <tr>
                              <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
                              <tbody>
                              <tr>
                              <td height=3D"22" style=3D"padding: 15px 10px=
 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzWM7LmEP5MDNgwv2xIVYRrtspA5kVl7-2ByIyXdg-2FfBRWJA-3D-3DZUmo_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8=
-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILD=
iGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2=
FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oX3xxKo-2B1cfBB6lqg=
6-2FW7D9eBtZAZriMsnx0X1lyp4CTwXJAFAjTA3M5pSP-2BjXNxPT-2FDwaervj46sM4hSVQKfS=
n92yxLqSUvaTt22XrzYuLAm3oqKwR-2F0H2eL4EoYX6irYBIQe5aWTq-2BP8bJRFQJJLWXssC3D=
lOE2wAuFRY8buk4cz7c0jzsnB-2BLQpFdhtmY-2BIvbSVHem0dYRryFBJA6Woj9lGvIObLjrXjg=
g761Cx-2B62nXy9e-2FQvyi4GvjOBSouPIj4ohPYDSXZQp7k-2B7IpOig-3D" style=3D"font=
-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Oaktree=
 Power Opportunities Fund IV </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=
swouzWM7LmEP5MDNgwv2xIVYRrtpukxfxv-2BC3y61perpxC79A-3D-3DN1ZQ_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2=
Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiG=
N5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2Fv=
llA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oWbfKcBzb3kNErKFymCeI=
MtE5uQG0u3eHTWdCfq-2ByQgtSe6UjDRwhLRxfCZHj9Cgtf3fKxdLWCDsnTE2WxDM-2FUrVZfIj=
poqt7wT3N0reOuoR5PnbUyum9PaPuL4DDeyW8MMO7Vagk-2BXaM7n1iP6z7qJFnWsW5L3o0clNe=
pZPx5m1HLTma3BQbyMrdNhcOrERj-2BT2MXAo1O56W15M7LT1sIEB9A3mM7SfUXJqVDBeIp9HYF=
w7fC0w6eKubtbeURa2Z3doBvNrUcqoJh6Dhcr4cFg-3D" style=3D"font-size: 14px; lin=
e-height: 24px; color: #1D5080;" universal=3D"true">Gridiron Capital Fund I=
II </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-2BaqM7ONnvsnswouzWM7LmEP5MDNgwv2xIVYRrtDs1KSH=
Z0wVbWLNagfL9YUw-3D-3DDxSA_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1=
yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEf=
DKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAi=
J6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4L=
jn-2BshVAyRUm6CR9U0oSgwAp2wdojzQenCXg6Xjl5jqUJET4J4FDHuEaaycPu3FKi5vNXPAcWt=
rpaxDJ-2FYJJBe9MHLrXWxozusDbf1uqKWue9H1AfDobXIDPzlKAGQgNYhWetH09T-2FBOAODuH=
R5fxY1onGlhawq2S8dirflIUi2ua8Ah45LS0BaTEyXb1UGT8NV0CFabuQjWSeDoEgnhCK-2BK0o=
FFBL-2FWQoxZ9iNjKtVeJZM4qx-2FPQ-2BAK0LgLDr97mhH9kFbgtnFc3RCwn9eH1SP8JB7zP-2=
B3-2BUG2JtMaPI-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: =
#1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal=
=3D"true">98 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-2BaqM7ONnvsnswouzWM7LmEP=
5MDNgwv2xIVYRrtGB4IwOgEB4MCuDTVhHdWXA-3D-3DhUbU_I3w5d9c01gkD8gLzFEofZR-2Bh6=
VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4=
Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm9=
68i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhj=
BDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oX4I-2FARPDGA5yq1nRnjHKqbhdoGwda900=
BqdZmFHPgHHl6W2oX3af9NxGoaDuOpOk-2B96d-2Bg6A8MZ3bNJl9gaX4KejdLxeXZJM4kUpKmR=
uFHa3usbMSUpWvAA668FoicdPuYliZLDvCQpNrT06Kf07J1Vj-2BasMMXie905iND6Ulv8ntXxf=
EEJDl0zcZeC-2BAhpWqSY7IyVX9EigxfC4Pf72LR2I6DGLZIkDPmvdcyrxaAbgX2hS7KIkozRwM=
AmXnE5kLrtCD1idkjeYrrUyALZqwY-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-2BaqM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKoWM45YFKueWTbOb-2Fm8-2FVFM0GDXohjyA-=
3D-3DRhz5_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8P=
zsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnw=
xGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefG=
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oT7uLXnAZXI1TBtHQmWl6-2Fth9n-2BwEzlaGwiFBYdq50TXjLapc4bHW1xJeZnKnFNOgy0R1Vw=
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                  <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%;">
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                     <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;
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                  <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%;">
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                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
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                              <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">Beijin=
g-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKoWM45Y=
FKu8dQGWe3-2F0iieUZdhQI45aA-3D-3D5CEP_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF=
Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5Cm=
O6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nm=
JvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKL=
eb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oVEiEI0cw99Z0PPXgwTVnVvDGWacOLjcwHkj8o-2BM1rr=
7S54zeoQhKfpgFsPR3yggX3aEQTw46nV7tx9nDK4xCeZip0A-2BQqAKcr2ChwBIw49niC1XWJrG=
0yNbkn-2FibwLs5I2D3LbmkbPAIWCh8PqUFmeBJ4wkMYzhlaWQFrVnqGK5f7iz4Oy1nbmQCA-2F=
STvUlGNysDp9syXOvnv5w6Kbm0UNLfPb-2FFW-2FwPUVCzHgDvujrP5REaLcyeHluk7Gu2UwvXH=
cf3jtvqoLqKTDwRoFez-2FU-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">ShengShu</a></b>, an AI video startup, raised $293 million in new=
 funding led by <b>Alibaba</b>.<br><br><b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzWvo-2Bb4Fsdp-2FuKoWM45YFKuNylAwvB0BVAlr-2FCe-2BXoWKQ-3D-3DM_66_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atV=
vKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU=
8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0B=
yCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0ofNWMoOQbrCcP4=
58ujZtmpFLmpbnGl6DFyP1hkadA84wUyWSuI3qP80DeE8aafzqqGh-2F7kCABCa9vAwMVdjbVF4=
-2BlacYBuzc-2F7GL0cJQD-2FvaJj-2BXQwfAZNt9E0AWI-2BhJNDaBFVwJfbTytNNsUBijIEMH=
5x5X-2B1Ov7hywR2doRqDljozmKuFLG144yIXum90qO8rOh6oZK8ciZLV-2BV6fItKaBvpSSV-2=
BtWEqKJJVDwkgHEMALdLDEzdktkA2UlS7oldBbMRUr1aRPOT2zkqfiXDxo-3D" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">Elorian</a></b>, a developer of =
AI visual reasoning models, secured a $55 million seed round at a $300 mill=
ion valuation led by <b>Striker Venture Partners</b>, <b>Menlo Ventures</b>=
, <b>Altimeter Capital</b> and <b>Nvidia</b>.<br><br><b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKoWM45YFKuBZ7kDa0CJa5AwOtnf8oHOQ-3D-3Dk=
bqf_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpK=
QgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU=
0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2U=
u2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oSDl=
Vy4M7hCxcb-2F-2FKZFHN3PUwclAXDCQZ-2FsLEm54nh77zv35h4di4ZfeP4YDj9shcXm0msroH=
YYvl0ddL3XaqLryrXpO45t3s-2Fg0ZQpE322U7RUjDGToGwcCVHuTxqBanohwAHxyX0FcuGvTFn=
iINAeWxiXLzFC4aMrE628Pk-2FmovAVmrjbJIuLPn8TnoJ14Lp3A10R-2FLOv4f6SDLcWtIaj44=
drCTbzF8Ei8YBxfo7hjFB6Wn3KKbPZPcKbnNcTMq9nzImxmHlXElCWNP-2FQ5D-2Fc-3D" styl=
e=3D"color: #1D5080;" test=3D"" universal=3D"true">Vivatides Therapeutics</=
a></b>, a biotech startup developing RNA-targeting therapeutics, raised a $=
54 million Series A led by <b>Qiming Venture Partners</b> and an undisclose=
d industry fund.<br><br>
                               San Diego-based <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKoWM45YFKu3ZDVAE0jJfzMgIDZeMMmhA-3D-3DFhZY_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC=
6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5i=
eWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8=
iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oekHvm8-2F=
qBDMi-2FnBcDwhVmhZtEzQzFKOIGfPOYphVtXBA50tmqRxIbyRBz0RHcP-2FFaAcLhTVJV8-2Fe=
EtMHZqGcxD-2FnyG0JP6K6oc3k6bSDzBAU4wfG8DcbabDS-2BQ7sPDKwcZNZIXtoPD3NoUvSD72=
bptYHEml1FPSxddyQEiwE21J-2F5v8HBSQBQ2dV1WqeSi7mi0PKvsbALKP9U-2FInsrcEXpGCPs=
2i35NDe7sEpggO2boNxru5giGZ7cO6qKi916iYHmYl-2BWsF5qg-2F0phDa8UXxk-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Juno</a></b>, developer o=
f an AI tax automation platform, received a $12 million seed round led by <=
b>Bonfire Ventures</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook=
.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWv=
o-2Bb4Fsdp-2FuKoWM45YFKuuTJ8i5tytJDHnxMpMvm5WA-3D-3DE_bg_I3w5d9c01gkD8gLzFE=
ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gw=
Rhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzW=
Z6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-=
2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oVdc0dJ2vILOhqPsbXipohExbj=
39Gor4DBKyqPk7jWAtMyg-2Fu8kuk7xadDQ3DLS1obwnvY8z2eX1H-2BbzuDpgsilxK1aJEkTYu=
uGDei9yDDYSOAEmZdhrscARafrXvLp3lw64OGXWI55P32v2IdZdPeoKHLc-2BdBiC6P1AjftEmG=
s4xmEDntG3U-2FqEi0C56-2FiOi-2F0vzYkrHkUfzz2CjhzgB-2FKnLTP0wSb9Zj7DNIrwHzjx6=
HZb8wU6HJbA42-2F14j8QO0KSG9fj-2FMgYfbA-2FC-2BlizBY-3D" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">TeiaCare</a></b>, an Italian provider of=
 AI-based technology for long-term care facilities, raised =E2=82=AC7 milli=
on in a round led by <b>P101</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>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"><b>Bai=
n Capital</b> is reportedly in talks to invest roughly $381 million for a s=
take in independent broker-dealer <b><a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zWvo-2Bb4Fsdp-2FuKoWM45YFKuQVaTg2-2Bb6yH1nn2gwbHhRQ-3D-3DCFfg_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2=
Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiG=
N5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2Fv=
llA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oar3b6WwSToWaR7LMH87y=
9kLDCf2vRNeOIfjTKj7wt1dWqH1p-2Fgwi6qi8F6h203Rs9TeJNhs-2FDrSr9Ihh-2FVmP0SAs4=
TnJU-2F3fQ1jX8dZrAeNj8PuQdTS9V-2BHvjJzvZw4U6icrlVV0u3HfmdMg95y05Gp7iFv6Ltvx=
4YfYeY7V0gHY6Uq6X0h8JwYjv0JRxC45dyFLU0wK8OVNDfjeHWhZLFplMUMa1gNF-2FDzjIltye=
1awgv3BwiqI2enRzsz-2B32ebXxe3Vq-2Fy8gmqrsAZxX-2Fib4-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">Osaic</a></b> as part of a deal that wo=
uld value the company at more than $10 billion. Citywire reported the talks=
 include a $2.9 billion continuation vehicle for Osaic's largest investor, =
<b>Reverence Capital Partners</b>, with <b>Ares Management</b> lined up as =
lead investor in the continuation fund.<br><br><b>Avista Healthcare Partner=
s</b> acquired <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKo=
WM45YFKui-2BomjzGxBeatdjOx96WDXQ-3D-3D82eR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9=
Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0P=
X09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBU=
sTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oSQv7bZts7oBkOOFTdUo-2F98KvUETY9HC-2FQqH=
i2piGHQ79F7zd7NUOXnm8d6PnM8iEXI3BiDDVvwT-2BmSloanRn6NIt-2FEiMgjkmJabBODpy3M=
w3yaUwb8M4eXHSBx9wLTb54ybqVdiQmjRn0z-2FR3hFwLkyvkpwA2kBY7wj-2BWIBoOEI7s7bzh=
2-2F0s-2FmmtNwzrakqi8ee5kTDlcw5RzYfUNTich1s0TpicFCsiVysB2PdRPOJUawPT2L8Sz-2=
Bt99qTPbm0FnmJBZt1fffHkc1BkJ1-2BB8-3D" style=3D"color: #1D5080;" test=3D"" =
universal=3D"true">Bentec Medical</a></b>, a California-based maker of sili=
cone medical device components, from <b>Greyrock</b> and <b>Hermitage Equit=
y Partners</b>.<br><br><b>Blackstone</b> bought a significant minority stak=
e in Denver-based hyperscaler data center developer <b><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzWvo-2Bb4Fsdp-2FuKoWM45YFKuKMTf7t5JgouZt0rcJMP50w-3D-3D-g=
4O_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQ=
gsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0=
u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu=
2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oW47I=
dZf2gWeQJNVL9ezCg-2B49yXs1GM49DlpqSB6ujDyPLUkYxu0AYUnLA5AEM5fe0Rfz5wjcQ0w-2=
FQcXJ2WFaAS80B4Pcnp8pVjnU-2B8XoJzS1IhWEp4VGMxlvXd-2FqYGmIjNt7Phww-2BxaOUZBt=
LRtdVqHISX8TO8CIHpQroV085qWdfLrYSQUiPA82jMIU-2B5hdrwZGBcok1ubIla2OlELaV8YZW=
-2BojBHMBj4X-2BdQ6eE31D-2BsW16BYwyDcD-2B-2BIJXKyB440j0EQr9DguQeAFLkPX-2F8-3=
D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Rowan Digital Inf=
rastructure</a></b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWvo-2=
Bb4Fsdp-2FuKoWM45YFKuQrmO8D6P7fgpunnePk-2BEEA-3D-3DIu0N_I3w5d9c01gkD8gLzFEo=
fZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwR=
hc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ=
6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2=
FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0odMi6-2BO84jFOi13DZM3u-2F0x=
HDYZN6eq1-2BXV3xVZG-2F0yVUJYH2mNGEYSlVe4uSRN6ho-2FdNfmaxDW-2FWXO4YrzmVoeKW-=
2B1MXCvtqop9Xx3ENHQLuq3f8IvY559Q-2BBEEGo2XTeB5c3Rcth6g-2BigdwhaU92Hy6UIlvMS=
RaQ4a8Nbxo5cdUjlKXe2Q4q9-2FVTvKPYmQ1YjGbMJ-2BPXMy3z2m-2FbxYJog91Adj45IkLV3L=
hTWvYrxougPJwweH5IWwetgPwcNEH0MbdDp-2F34as3z16r1LNB8o-3D" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true">Kuwait Petroleum</a></b> attracted in=
terest from firms including <b>GIP</b>, <b>Brookfield</b> and <b>KKR</b> fo=
r a $7 billion stake in its pipeline network, Bloomberg reported.<br><br><b=
>Bregal Sagemount</b> invested in <b><a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zUBSqY3NMFOmGzX-2BtDRYhh5oa5DmeAfsAdGIYISd5-2Byhg-3D-3DYHRL_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv=
7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5=
DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2Fvll=
A0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oVspBozkV4zvn4FmKmjHJT-=
2B-2BlW9ujlJjwDZ6yuMcdxEw-2B6cKl-2B45xCSxVoMgWGsg6M4pYoowl359xPlliMGjyXf5-2=
B4QqIL3b7yxWqLyb26I72aRpW6dAvnzdcMoGoouZ1wcvGsn3ZsaNPK6rS7AJ4bDpG2Jue3XW9Sy=
5yD7O6bEhaHHYleVMlKrSh9goT34ySSX15KmUEikMJwW1zhZvFa9K25-2B-2BZ-2BRPGx8Bk1gq=
cG-2BCBvL-2B7qvTh-2FxR7IhkikKaxH9mHi1Zx6XF59JvEt-2FDV-2BM-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Redgate Software</a></b>, a UK-ba=
sed provider of database development and management 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"><b>Fra=
ncisco Partners</b> is looking for a buyer for <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh5hhrK3vlO1SN-2BEC3n3t6aQw-3D-3DphYk_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC=
6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5i=
eWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8=
iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0oUT4IWWESb=
3BderQQfTb6HYQBTGZ7tGGf5bq2GdRnZVh-2BgXEz7sd930utxiZAOZa-2BbvKWwBVR7XabAjzd=
51BNPn9WaJoBbZJ2x-2BZt10iclJBejz6zYjFIgpEpnK6RZw1cbEhIaGP7SjnBuIms7V5QhxLq9=
D-2FL-2BDmJ4gNPJK-2Fc2sLEYomry7kRwMmLsIXzXEs3RuqN5HmlgL7KJZ8h-2BPbacBD4Vb8Y=
sE4AuHucSZP2TAUFDEI1nErbX990qZYR-2Fw588xl-2FLnKOQHTowM17gOfg3s-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">MyFitnessPal</a></b> in a de=
al that could fetch up to $1 billion, Reuters reported. The PE firm bought =
the health tracking app maker in 2020 from <b>Under Armour</b> for $345 mil=
lion.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?=
upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDR=
Yhh5SRdo4-2FK-2BGWZ9ML3aiN7g2Q-3D-3DrMPS_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx=
BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh=
5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX0=
9nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsT=
KKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0obQ6WORsyHmJZ3L7tBT-2FA80-2BZsD-2FCKpAvJ0c=
gJ87IYm1vucP4DMXe4RuhPqNjg1m7NEw1WynpA0sfNCabfxTD1Daov9uLxbMR6nGd8g8ytEtZvU=
ZC0d5GfqHAZkzto75D3ErxdUwM5Tp8LoXr8EUu9cvSHuyh4nClma4W9IhmhAh-2FNx8ympyYM0v=
hRNFjKswI3-2BjKS0tqEPQMEVUn57gdhqS3Av2DOsUxMNHlZz2EMZhZGovrg8CvJfImhuQ8CrmW=
1wbzWSuCA-2Fl0YgeuL68KBY-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Galileo</a></b>, a startup that helps businesses evaluate and obs=
erve AI model performance, has been acquired by <b>Cisco</b>.<br><br><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh5xfhEjI0Ht4nIqMK=
bPnPgtQ-3D-3DNYyc_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh=
4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf=
6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVA=
yRUm6CR9U0oeo1i6hb4Kkps3AXqVu-2F9M59p6JCamjhjcJ4ruLmiahFBPw-2BQK-2F1GiO7gVx=
1dWwbvWysa5hFu8XWgXUxqncvRrpVNUWTWgac4RC9Zx49NBc3cZvrpnajE-2BeHAJjVJ4x6Nby1=
vBLT7pX9-2FeLHPXOb3i8Fmxvf7-2BChz1or0-2FZBiGvkAY284r83vsmghwXhuP6lbN-2FPPd7=
rKagnVc-2BKvqDb-2B2mXL-2F6UcR2l8Uz9LIEA8T6E5c33P310brPDkJTd5SUEkYs7YdcYC5lQ=
wNM1U1iUYTQ-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Coco=
on</a></b>, a leave-management specialist for the human resources industry,=
 has agreed to be acquired by <b>TriNet</b>.<br><br>
                               Agentic workflow automation startup <b><a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh5iAeSuc-2BlIT5kU6R=
xjjfHZw-3D-3DI5CQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh=
4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf=
6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVA=
yRUm6CR9U0ofdZM52HiXL1gTVWjTmcYmjwl0qvjic4tXiN8sJ-2F36eZ1kbyyJz1Hxm8sQZZXHg=
r5ug3L7NbpUMjgB9BfkchsbTn576gmvulLPMlDRJ7kkD4ZWuLXVgxA7gysmVWoSiqDBntFonjT4=
8WdK2oz1iMm8-2FVxPKKKwBP4q9TG1FfNExeudgEfwQVoAnz3Dn9AbnN1GrlByowfBVmqeYnHyY=
6qTwm87oS-2FAKo2W4z-2ByWLUkTyVn0OM6F5oGOa80Cup8XN4n4fIUB8NEeV79jwCvRCVr0-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Loam</a></b> is be=
ing bought by <b>Self Labs</b>.<br><br>
                               AI startups <b><a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh52eFSLqj-2FcnRstplWmYruMg-3D-3DGVGu_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atV=
vKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU=
8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0B=
yCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0ofJt8xKM2u-2Ba=
7PCGLBMTP2l-2FYIoaoRexe1ErvFR5Q8xqdNr55A5T6V4vV9-2BTdQKJd7-2FYQiYjfy9yE-2BB=
l-2FhSEKOFpPLgFicMaOeS6H54mKvTIVKGNryYr38DVyOGjYGYZ3-2FwmCF9-2BMisjZJHcdY2A=
Y74590A7u1VOA7y6wIRyUhZalEr-2Fkxxkzyq1w5BhdHhrWL61SbzFByN5XNh3z1-2FfdPuhvcQ=
6PZuiRENrO4zfRtmCgGJ2h9Wi6rj2-2BIaWaxZiHq6OxPZuk0cpNWy3hmhn5Zk-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">Aleph Alpha</a></b> of Germa=
ny and <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D=
u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh5Pz=
-2Fo13XXWZ-2BPSmc6VIq38g-3D-3DchIy_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfm=
zy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6g=
UzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvb=
aeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-=
2BISvZ4Ljn-2BshVAyRUm6CR9U0od-2B-2FYG9kQUyqjAqbZFQ4WeZCQs3TW8KUrpNoHwaSnzAZ=
a-2FXe5hUnzK77Q8tEHhW6W-2BO-2FZDo-2F4e7pX4GVifU1OMp5J0WoeXr9Ayo-2Fc4ZsBk06N=
J-2BE4qidF6lhuYFOh-2FYTyix-2BF5vO3V8sW2pIFMDZ8-2Fl73Tp3uO2i5wf3mS8IIlipPSOa=
O71VicYVA05Gf54RhvM76AzkYLA0mg555rMHXX8Ri6gG-2FuFh6PTxD-2BiwuXpJwWM2iLEgvzs=
81OrJeIkP9nZpf6-2FkSBxaNgoh-2BhMVpcE-3D" style=3D"color: #1D5080;" test=3D"=
" universal=3D"true">Cohere</a></b> of Canada are in merger talks, Handelsb=
latt reported.</td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&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>Nor=
d Holding</b> closed a single-asset continuation vehicle for German fitness=
 platform <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh=
5CDVzxB-2BslbbSOdRST2T6kg-3D-3DFfMK_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf=
mzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6=
gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJv=
baeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb=
-2BISvZ4Ljn-2BshVAyRUm6CR9U0oUbh0DkPu5oC9KXDE5q26Tb2JbDOhGHURqjvUeCS-2BAYlf=
NcHwKPnrluI1lonOurqqLOc5MdYDiivgFqvhTIubuR4TgLrXEl7mSFcT8N0FPpNggQBeCuH-2FW=
Z7LYqLG5ooZdzot8EJhCvcK7Hmynh0nrAt-2BoUj4obAjv4NBWAVf2JD0TCJdGXkdk2bWPKlvnJ=
3GCXkKk2dSdffp-2FEKg9RvdkeOcqJI92akOncHiCHLOUX2k-2FYX3pfG0IeQSfuXdImferC-2B=
IqkSMarCw04HjdnRXzw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue">All-Inclusive Fitness Group</a></b> at an enterprise value of =E2=82=AC=
500 million.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGz=
X-2BtDRYhh5n7DoBkbuG6UuSP3tkQkVKQ-3D-3DChbI_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h=
9Lh5CmO6gUzDjWWEfDKw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0=
PX09nmJvbaeFMCsAiJ6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeB=
UsTKKLeb-2BISvZ4Ljn-2BshVAyRUm6CR9U0odI1kKMZ8qQ4srgIURFm0PHrNuIVcsMthKuW4Pn=
HDZ4sUrXSXoCcb1geky6CmrRSR5LNfUDKNxHQZ58qBWH9PkxbXRN7Qb2OkdnNmhRuW-2FTJ8CoP=
a9isV4TVqBO61pUFiwDu-2BJ11akH3spQJBjffx-2B3-2F56V2GYjywS5-2BDELczfBsAkXyfwg=
latO7J6wlyJNmjt0uywMRbhP0SYOHobgiF9gLsqydqGUzyqM44F-2BBSbuFRpxroniWH-2Bt9wS=
pqGtqJbAYuUoADx7P8IOlb-2ByeTZlI-3D" style=3D"color: #1D5080;" test=3D"" uni=
versal=3D"true">Accent Equity</a></b> closed its first multi-asset continua=
tion fund on nearly $161.4 million.</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 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-top" cellpaddin=
g=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100=
%;">
                              <tbody>
                              <tr>
                              <td valign=3D"top">
                              <table lang=3D"x-image" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" align=3D"center">
                              <tbody>
                              <tr>
                              <td align=3D"center">
                              <table cellpadding=3D"0" cellspacing=3D"0" bo=
rder=3D"0" align=3D"center" style=3D"float: none;
 ">
                              <tbody>
                              <tr>
                              <td style=3D"text-align: center" align=3D"cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh51DNdFKW=
oMQzGTx3qYeUFgQ-3D-3DG58B_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfD=
Kw3mtBbh4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ=
6gU8twaf6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Lj=
n-2BshVAyRUm6CR9U0oT4FGVSRlt-2BY7NW-2FZOSmaoVhpG1fuo2lhiAJeJsLNwrRsvgxxofZ-=
2BWVSXtpexYoWXeyCOSwTI-2FYo1w4PEKXmUGhGyIwltiu-2BN7gnNCJchFGZqW7Tv2bqxYr3LA=
t7l7bg-2BiTut-2BFgI90-2BsXLXo4Qju-2BboT3lpq-2Fses0aLDzdsgFkg-2B264K6shuILgu=
7HGBc679Xhc0-2BCloj5ynJlOdvCyVYzD9OGWiduo09In2F0R2ZKBGHY5uucMCvRvySccTHI-2B=
LilJjlqMG3ynTegZ0CYHKL4-3D" universal=3D"true">  <img src=3D"https://img.pi=
tchbook.com/news/73724.png" align=3D"center" alt=3D"" style=3D"border: none=
; width: 100%; height: auto;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table>
                              <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;">Direct lending funds =
are stepping back from the software sector, creating an opening for more op=
portunistic lenders looking to drive a harder bargain, according to several=
 bankers and advisers in the market. <br><br>
                               Source: <b><a test style=3D"color: #1D5080;"=
 href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUBSqY3NMFOmGzX-2BtDRYhh51DNdFKWoMQzGTx=
3qYeUFgQ-3D-3D94yL_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe=
UgFVa0m8PzsFXpKQgsYeC6atVvKjp8-2Fv7gwRhc6uzOj4Id6h9Lh5CmO6gUzDjWWEfDKw3mtBb=
h4x0jJZnwxGOBpU0u1s5ieWMU8yILDiGN5DzWZ6c-2Bmm968i0PX09nmJvbaeFMCsAiJ6gU8twa=
f6Us6iefGAGbU2Uu2bFN8iq0ByCF-2FvllA0-2FrZ9bGhjBDeBUsTKKLeb-2BISvZ4Ljn-2BshV=
AyRUm6CR9U0oYfnj85A6k2umdBSnLF9btcdZdFWvjqafu1aJrbjW8wM2Ytr2dA9llt-2FkVKTjr=
1uOAAYJ5w1w5hnFANM-2BtL5rJJLNWKY4uDWjzNzgr0L-2BXCOCWBJcBCgVtfol2WrnvxUC6Wwj=
EbAk-2FHQcK9GR-2FuBLyZQXx2yttzyg8P907h7Izj-2BEBZcc-2FKzSH7J9llyjba4fMhyYrA6=
AutLNqi2pE-2B5pNywMs1FyC66XgRj-2BLV6eMIxfCi4-2FXingWMkFFEUHrFeGZ3sVPO8QGU9Y=
Z-2FnnWgUl1U-3D" universal=3D"true">Vanilla credit funds are pulling back o=
n software</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;">
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