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The original message has been attached to this so you can view it or label similar future email. If you have any questions, see root\@localhost for details. Content preview: PitchBook Newsletters Private capital fuels record MLB sale; frontier labs come for biology; themes across agentic AI; UK AI fund 'a drop in the ocean' April 20, 2026 | Read online | Manage your subscription The Daily Pit [...] Content analysis details: (0.5 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- -2.5 RCVD_IN_HOSTKARMA_W RBL: Sender listed in HOSTKARMA-WHITE [159.183.175.69 listed in hostkarma.junkemailfilter.com] 0.0 RCVD_IN_VALIDITY_RPBL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. See https://knowledge.validity.com/hc/en-us/articles/20961730681243 for more information. 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[159.183.175.69 listed in sa-accredit.habeas.com] -0.0 SPF_PASS SPF: sender matches SPF record -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.0 RCVD_IN_MSPIKE_BL Mailspike blocklisted 0.1 MIME_HTML_ONLY BODY: Message only has text/html MIME parts 0.0 HTML_MESSAGE BODY: HTML included in message 0.5 KAM_REALLYHUGEIMGSRC RAW: Spam with image tags with ridiculously huge http urls 0.0 LOTS_OF_MONEY Huge... sums of money X-Spam-Flag: NO <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www= .w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns=3D"http://www.w3.org/1999/xhtml" xmlns:v=3D"urn:schemas-microso= ft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office"> <head> <meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dutf-8"> <meta http-equiv=3D"X-UA-Compatible" content=3D"IE=3Dedge"> <meta name=3D"viewport" content=3D"width=3Ddevice-width, initial-scale=3D= 1.0"> <meta name=3D"x-apple-disable-message-reformatting"><!--[if gte mso 9]><x= ml> <o:OfficeDocumentSettings> <o:AllowPNG/> <o:PixelsPerInch>96</o:PixelsPerInch> </o:OfficeDocumentSettings> </xml><![endif]--> <title>PitchBook Newsletters</title><!--[if (gte mso 9)|(IE)]> <style type=3D"text/css"> table { border-collapse: collapse; } body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; 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;"> Privat= e capital fuels record MLB sale; frontier labs come for biology; themes acr= oss agentic AI; UK AI fund 'a drop in the ocean' </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'); 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font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&A</span></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p= rivate capital markets</span></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; 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But the way you consume news and research is changing, and we want t= o change with you.<br><br> We=E2=80=99re investing in new formats, more= targeted coverage by the segments you care about most, and smarter ways to= deliver the insights that actually move your day forward. To get it right,= we need to hear from you. This short survey will take less than two minute= s and will directly shape what The Daily Pitch looks like in the months ahe= ad.<br><br> =F0=9F=91=89 <b><a href=3D"https://url6380.n= ews.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzW11fwzucf6mmscY5TPnuALUaUVODbDotJYWW6oueIkPQ-3D-3DNrZ6_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPS= ipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQH= UPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdp= fqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONoBUU6ByUt6aFyqGSR7ACDx= GP-2BllurjZvmxzhOUNQHJKerJy8pjgnkZ9VdqfGebL7jzrzG5DZCpYIcjKREq0Q-2Bx1ezeIdA= HTGpdZLCFHZ82PNyyCZd-2FykHkU4iCcmabXJNBmGPchNzJ83f0jkhYR1XfOQV4deKxgI0Y9By1= E9aMyf0Ec3IfJZU1zz8JeepFswe04H9RWGtDMjDeDlvlppyKHG6YuQO2EWB2cGSZf9TEMsrrgnR= LjY4HpjVE701EWl5cuIpJGQd7rXiAcwqCl70s-3D" style=3D"color: #1D5080;" test=3D= "">Take the survey here.</a></b><br><br> =E2=80=94<i>Nizar Tarhuni, Executive Vice Pr= esident, Research & Market Intelligence</i></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579482" id=3D"n_579482" 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;"> PE hopes garage door roll-ups = will be the new HVAC </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"><i>By Rod James, Seni= or Private Equity Editor</i> <br><br> At the start of April, Oak Hill Capital boug= ht Guild Garage Group in a deal that got tongues wagging in certain corners= of the private equity market. <br><br> The transaction valued the Orlando business = at $800 million, making it the largest PE-backed acquisition yet of a US ga= rage door supplier. And at a 16x EBITDA multiple, according to PitchBook da= ta, pricing was more in line with an IT or data services business than a ty= pical residential services company. <br><br> Acquisitions of garage door installation and= repair businesses have turned from a trickle to a relative flood in recent= years. There were 26 PE-backed deals in the sector during 2025, including = add-ons, according to PitchBook. This was a touch behind the record year of= 2024, when there were 29, but both years dwarfed what came before.</td> </tr> </tbody> </table> <table lang=3D"x-content-area-bottom" cellpad= ding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table lang=3D"x-image" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td align=3D"center"> <table cellpadding=3D"0" cellspacing=3D"0" bo= rder=3D"0" align=3D"center" style=3D"float: none; "> <tbody> <tr> <td style=3D"text-align: center" align=3D"cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW11fwzucf6mmscY5TPnuALiUWO94Kv9= nbyj3uH1zzPnA-3D-3Dl_s5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD6= 1UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45= KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22= iArcalP1HRiCiONtr0IaEdIP5ysvb-2B9tejfHfOKT-2BK-2BV8lCWdCBKvNIoR2y2VjM8ocfu9= DAH4DJSyoqvtD8-2FmFlV6OtPD4F1H6dsxsQWZXglxTDSNmNxFFRKgf0z1jj0-2BQTetBavN9aK= rYBYMdL7uF9qtFGhkbjuFQ83DpbP1A1KeA38vqf5fsIyC-2BpSJeg4DWv5GbLet33AQymXIVvb9= SaHRv3nTdHCd5oWUNrv5lMkO-2Fj36RSKJV1m7je2HHTj-2FYZKcT7Z8hhRsj0cXm0R4fnBJ6Y9= g26KyaUQk-3D" universal=3D"true"> <img src=3D"https://img.pitchbook.com/ne= ws/73832.png" align=3D"center" alt=3D"" style=3D"border: none; width: 100%;= height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;">A lot of the exciteme= nt around garage doors stems from the market dynamics they share with heati= ng, ventilation and air conditioning businesses, which proved to be an imme= nsely successful rollup play. <br><br> Businesses in the two sectors tend to be cas= hflow-generative, offer services deemed critical to people's homes and busi= nesses, and there are lots of them, making the market ripe for consolidatio= n. <br><br> Garage door investments are no gimme. One of= the things that makes the sector attractive=E2=80=94fragmentation=E2=80=94= also makes it difficult to find good targets, at least of the size and soph= istication that PE firms typically seek in a platform company. <br><br> The market has experienced a surge in compet= ition, participants say, as PE firms that typically focused on other segmen= ts look to the trades for protection against the disruptive threat of AI. <= br><br> "I think some of the historical perspective = on blue collar services and just construction, as being kind of a dirty wor= d in private equity, that=E2=80=99s gone," said Paul Giovannoni, a partner = at investment bank and consultancy IFM.</td> </tr> </tbody> </table> <table lang=3D"x-content-area-bottom" cellpad= ding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table lang=3D"x-content-btn" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; 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min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW11fwzucf6mmsc= Y5TPnuALvmmdVZceBZqvRIIt3-2FFzag-3D-3Du8C2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs73= 34n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUr= GWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki= 6fDp93lFMFgsa46yK22iArcalP1HRiCiONmiWzqo3G24k5sx9W8Lb09AbclEexf5qESdCySB8MD= e9BBidkheCueSTIuUwehqX7zhxoVCJVlvuqEdm78HR585nuZczuBXB5vOVT5Gy5PTLZQujk1BWg= JNRKyUkcyWjtDF527sr-2B8Qfk8eACtU37oSGdvqb7hihlzY8QsRROYOSy7zr2Mb8pLGTHdIoAw= bjZAeV1uVfyAzPGfjBq6E7qHlb7jFchYjwAotK6S9g0rb3NybXGDfV01caBJMruciUZIx-2By1P= LBoAm939SPYN9yz4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= >Q1 2026 US PE Breakdown </a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80= =A2 <b>The San Diego Padres are in talks</b> to sell to PE billionaire Jose= E. Feliciano and his wife, Kwanza Jones, for around $3.9 billion, The Wall= Street Journal reported. See our data on <a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzW11fwzucf6mmscY5TPnuALXLH7VubMLP79JzxIgsAYTQ-3D-3Dvcq3_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSi= pAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHU= PiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpf= qBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONnKjAguAuhk4xnmfH7AeJsVJ= QhDqw3tXWxGqnHbEAwa3cFF7wyK5XF0Y2QeXSUrvoqb6zjkSY-2BjbLMZV1-2BiTC8Z24-2B-2F= sS7s2TCWUCQc1ou5qikOaspZzHDnjJjuuk-2B2nZ26oi-2BX2MpeEBjW93VoRhWPZ4VUNU8LRb2= RFdpMWZcJQGeH28Q6TMBhofvjqErVD5ZBhrvg-2FLz3QrcvabzlvzW4DNrNpUjXn4XqnIMownui= EZX6l5gLxIaWh2Lj-2FFT8ZoMWzeo9kTkgS0QccwPMxgYY-3D" style=3D"color: #1D5080;= " test=3D"" universal=3D"true"><b> PE-owned pro sports teams</b></a>.<br><b= r> =E2=80=A2 <b>Agentic AI adoption is making s= trides</b> in IT, customer support and go-to-market functions, but remains = more limited in areas requiring high-stakes judgment. <a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzW11fwzucf6mmscY5TPnuALQsnyihs98Qi7r2MlROsrdg-3D-3DgoDz_Pr= 966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgH= V6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EM= UwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPF= SAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONozj5XHpofqa= i7e6sMuVOhNgFR-2BbLECvyrOVyII4HmvDdh-2FBTi80rPmgquK-2BjUirkCbhgNTCWxCC-2F0Y= Po1SL2Hira2SwrORTbK0BGyg4CdpxNkR-2F4vVbkNFuY3V4LeBssrlWbCDrVgoIh5CWbJVj9GSf= tk12CtjIYy65ULB9ofiEfBykrG-2FU35kc8LH2z1rG173jH02XidbnKZzd4qmy45rISQ4aBD53T= HnnHxS-2FZ8-2BsoxUsAABnb6TRIX8hAs1XmC-2FDeGYD52BorGPrUMIC6CU-3D" style=3D"c= olor: #1D5080;" test=3D"" universal=3D"true"><b>Read the expert analysis</b= ></a><br><br> =E2=80=A2 <b>A new UK sovereign AI fund offe= rs startups a boost</b>, but funding constraints, high electricity prices a= nd talent shortages limit British ambitions, Leah Hodgson writes. <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW11fwzucf6mmscY5TPnuALKPNaemwloUPKDWSOYB-2B= Rkg-3D-3DAWAV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U= YA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG= 8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFw= Y5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HR= iCiONoOx-2BjQH2tEOxjJG8V6Q-2BiOG0rMhqL-2BY4uQ4Y9xuUqiC8xd8B0km0dnBPibE8FIon= 4o-2FMdsh8smTQVFmC3xa-2BcHexgYxDy9jt-2FJaXchvTcz1-2FSWu4VRuIUcjWtt0hBQUihkg= rzSHsfMgzNlgaszPMeSFJ6jMLbviLkbjTsuahm7oqHUQCucDhSCUEg-2BJhqh6ooPQvQyf3WM9M= HRE9effNSWprC0RqHWY6nm7evNYlWwLZ960YtSMX-2BY5fAFXvMfQ4c90MdjvkXstU5QjrKLWxP= k-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Find out mo= re</b></a><br><br> =E2=80=A2 <b>AI chipmaker Cerebras</b>, a ri= val to Nvidia, has filed to go public. <a href=3D"https://url6380.news.pitc= hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw= ouzUkZzBoC0HPCPY8RnPn5iS0E20ROpuI2WqQKz1jo91TIQ-3D-3Detvo_Pr966knuaHmaw6c7p= KvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAM= nwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiw= OkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA= 2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONlybcAMyWZvWLXDN24lrl8pOzGv= P1rgFlIB1sZxUm2Hybwkc5FjCu2ScK7RfpoxQ8U-2BAfDDyLVnnjyGxhOcSDobxNKZj8RI-2FM6= D-2BnoqowZ39PQEIBTSUEzXH8Wm9fiWEa0LNZ3-2Bftmb5VAAFfnDvteovzDdjqL-2BgtBl-2Fl= 7DgIsCyP47SAB1iks7oyY4MwQq-2FjkV4jwsxkSsq1nf3KwAT5lRANwz-2BdSQhUJWbQioSq4C2= Gs23tgwubpDwLMQEnFdXzhk4wrdmDl61sjqntaXcbb4-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true"><b>Read more</b></a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579910" id=3D"n_579910" 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;"> OpenAI=E2=80=99s life sciences= push energizes VCs </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/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUkZzBoC0HPCPY8RnPn5iS0fZktyQGQp= 0MzJhxlFgDObw-3D-3DAOV7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD6= 1UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45= KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22= iArcalP1HRiCiONi7oWcs3caOC2GsauRnpL0KGcVn71Xs-2BlhSbE9TLAEi9-2FcBk6MX6bImps= FsCqisKn6xGjZ9fx-2FtgY6VldRHhQ8tJ6PLPY-2F3nbnil0tmg6DRzzOrhSpcn9iKG8RZTTGSB= KD-2Bu2j70WulxAj0pzRMoZfEdiNdjnVQeQ4fikfiAa9F2G-2Fy8qX5jiuYalEP7QX6sv0SfYnh= BztibDpR2ep05ZIPU30Up62mWCKYE8T-2FCGEEVOKIL7-2BcPLHizPL43IAdMHlqDstbzCuk71g= EnEGT2dsg-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"htt= ps://img.pitchbook.com/news/73840.png" style=3D"border: none; width: 100%; = height: auto;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">(Josie Doan/Pitc= hBook News)</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"><i>By = Rosie Bradbury and Jacob Robbins, PitchBook News</i><br><br> With its newly unveiled GPT-Rosalind model, = OpenAI is moving into a corner of AI that VCs long bet the frontier labs wo= uld leave alone: life sciences.<br><br> VCs have poured millions of dollars into AI = life sciences startups under the assumption that their applications=E2=80= =94like drug discovery=E2=80=94require proprietary data and specialized mod= el architectures that frontier labs wouldn't bother to build. Although inve= stors agree that this assumption is now out the window, they see the news a= s a positive.<br><br> "Life sciences have moved from being a side = interest to a top priority for leading AI labs," said Simon Turner, a partn= er at Sofinnova Partners.<br><br> Most of the large foundational model provide= rs have, up until recently, opted to focus on ubiquitous models, with a few= notable exceptions.<br><br> "DeepMind remains the competitor worth watch= ing most closely, with a multi-year head start on domain-specific biologica= l reasoning," according to Dimitri Zabelin, PitchBook's senior AI analyst. = "Rosalind is OpenAI entering a race Google is already running."<br><br> GPT-Rosalind is likely to light more fire un= der the competition. A number of AI startups and pharmaceutical companies a= re building biology-native models to solve complex scientific tasks, such a= s Periodic Labs, which raised $300 million.<br><br> Currently, GPT-Rosalind's capabilities are m= uted. The model can help scientists synthesize reasoning, come up with expe= rimentation plans and compile research, OpenAI said on Thursday. Autonomous= scientific progress is still several technical milestones away.<br><br> "If the drug does not exist yet, Chat-GPT ca= nnot invent," said Duxin Sun, associate dean of research at the University = of Michigan's College of Pharmacy.<br><br> Indeed, investors expect that no generalist = model will single-handedly solve biology on its own. One reason is that muc= h of the crucial experimental data in the pharmaceutical sciences is propri= etary and owned by large pharmaceutical laboratories. Even once a drug cand= idate is identified, there's a lengthy and often unsuccessful path to clini= cal approval.<br><br> "We are still always going to have gaps in w= hat we need in the world, to actually test, develop and do more clinical re= search," said Alex Morgan, a partner at Khosla Ventures.</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> </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-2BaqM7ONnvsnswouzUkZzBoC0HPCPY8RnPn5iS0fZktyQGQp0MzJhxlFgDObw-3D-3DY= m0M_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNf= JSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZ= LpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm9= 1h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONkhoYh= YdqR6ajLQ2c8WYKdFiTMk8g0koPhRZPEmm0P-2B7mP7XD1jPagbgxCTzIW0Br7gABgeVMi7SFTL= gZpnGUUrcBjpRY8SbpkKGMi55ZgiPXrL-2B4eYbj9-2FbcKFR2pAiUBpwaqbkNir8ol08wIBm8S= bMVHXhgjA-2BqIjgtylnQXsNfvuwzv-2BUOZPRgimulcXwFCL6EEt1YZsK-2BUXS23AnVF-2FRA= A82TWq4cNDJ39gxnM2dVEZ-2BlNTvHZJ0mmAxVqt5jS7NVoad8w1nien0hXWJ-2Bz0-3D" styl= e=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-decorati= on: none; color: black; padding-left: 3px" target=3D"_blank" universal=3D"t= rue">Read more<img height=3D"24" src=3D"https://fonts.pitchbook.com/newslet= ter/arrow-right.png" style=3D"vertical-align: middle; margin-left: 8px;" wi= dth=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUkZzBoC0HPCPY8= RnPn5iS0C1XcM5vckVTFkW6eGLF4HQ-3D-3DqIHg_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ= YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334= n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGW= NgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6f= Dp93lFMFgsa46yK22iArcalP1HRiCiONspUZC0Z9Z7BPa6wiCzcoS-2F3ThhZcmsrtKJlvngusY= cH54SH0-2F0BAvRAwwptdq29W7qiiZAD8qMD7SUb7h6gsH49cvVOFIJ0rUHwAi72mJnYY2h8Rzd= HjIcKnWvo3uG58lRCZf7VjuTtRTvHYgADc78pR5uGwJd1zyLnFPy5ZvjaSJCIFRGC8D3uIiARVb= coMVj6Egb-2FwrYoq8Zvdz4Tel7HYqXasSTZnE-2FcUtiOCOperXvyLyb396x1tha8ZYqs1qpES= mFPJqywseY4oiIYWtg-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">Q4 2025 Biopharma VC Trends</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Side Letters</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma= rt reads that caught our eye.</i><br><br> =E2=80=A2 <b>The line between investing and = gambling is getting blurrier.</b> Markets are going crazy, and there's more= overlap between exchange-traded funds and prediction markets than ever. [<= a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUkZzBoC0HPCPY8RnPn5iS0930WxsETGbYsIO9zPFl= g0w-3D-3DK83G_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U= YA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG= 8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFw= Y5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HR= iCiONme3rmZIbBvh-2BUS822Q0GcfyAMmPLI0WyVvH4SaQ1ZZ9yrIfzORAjZxw0QL0cz25sbmL9= C4EdA5mRI2NP-2B-2BIMTByMstTv8cHNh4U1h09OzdfXk1TpS6zhZ1TmJKV5C3bVj6IKL-2FfTH= gCehlAf-2BELC-2B2Uk8YAd6oLPV3OdORBNjoobfDp6AxhtEKEKy-2FxvWjru9gmoJUCRKTsze2= cgjHT8j9teEhaGr1vcFw1g51FY6lSGtBDeZCK-2BdzXN7xoTGUVke6jRGKbgDTfoOV40oCUc64-= 3D" style=3D"color: #1D5080;" test=3D"">The Wall Street Journal</a>]<br><br= > =E2=80=A2 <b>See the breakdown of America's = sentiments toward AI.</b> The general public has a growing resentment and f= ear of AI, driven by employment and regulation concerns. [<a href=3D"https:= //url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzUkZzBoC0HPCPY8RnPn5iS0fa7o742kzYVDPUhbJ-2Fc0Sg-3D-3DcFG2_= Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxA= gHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3= EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5b= PFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONrZmw0ZCPZ= J2UX1xyTIvAPAuMBJSrhBurrso4Yn-2BY2xmIRFC3pzYXq-2FvTZ-2Bgi7ZOw9MaQmc1sDhFMl4= QwDdwD-2FlSqaSjWyaeucDH1HVM-2BV5UAb0RMX2Bfw44PXlkM3wxnu-2F73Mz03isgX9XUOYPw= o8Ia-2BgN8YGUKEE48jflUKf3I9XC6KR9HGa-2FPonrm2iPj7vptmGr7wEDprkbILUvUsW6XvIY= G7QjA7LS2iaz-2BSKlT2v-2BTF1fPUASxXnd-2F-2F2KQx0Tgm9XbX6AvbMptBL8mBQ0-3D" st= yle=3D"color: #1D5080;" test=3D"">Newcomer</a>]<br><br> =E2=80=A2 <b>With $100 billion in assets und= er management,</b> Iconiq Capital, a multi-family office whose clientele ha= s grown beyond Silicon Valley execs to include royals and celebrities, is d= oubling down on backing AI startups. [<a href=3D"https://url6380.news.pitch= book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUk= ZzBoC0HPCPY8RnPn5iS0A3DwtFElddMh-2BN1WF9otfg-3D-3DRh8I_Pr966knuaHmaw6c7pKvB= -2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwf= GcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkm= wkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2= FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONl8-2FT9GRWPPggdnreOBz67r-2Fp3= ibDMg21lBIx89ZcIU6jcJ0gnmT6sY4gGf63yiW-2B-2BwSOcr-2BiuZrRy53hWaFIU5lbwjzNfj= 3HapRU21M01oArWZSQ-2FTfs-2BQYZUqDeZqrHwCOkxt-2B-2FAj4-2BsNMFhl-2BNA3vmHs18X= QLCOAGc0eyCITWhrMngwkcpHP4c6p8okY4hAT10PSY5d-2FXEX9Jmmla9a39zXDJInORCKexWek= tVTPzkkJKych9bMtT-2FQy-2BaX9Dbcrh3CzT6rRxP8GGpRFyVrs-3D" style=3D"color: #1= D5080;" test=3D"">Bloomberg</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; " 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tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzUkZzBoC0HPCPY8RnPn5iS0T6S7-2BJVkL3WTmJwa1EUmUQ-3D-3D5= eyC_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNf= JSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZ= LpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm9= 1h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONnavz0= xdBAmk5TSArEf-2BSOVpjeC4dX711ykUvcPQgEEYWwz20EvdEI9CMI5tz1EFM2C7CO-2FOaakqE= Vt1j7FC2kv418Nhg9Ke93GZfy8mUePXvnZ3ExeIb8nBoTbXm-2BS6trLayrwvYRF-2B-2Bp9qEZ= VXORBwOzQYuSiNE3FX4zVtfzfQos07N6vMuty5jWyKRFs7pCM1-2BGWVs4t6nR0MHfodsOPmM67= PxtkTJsHHrZbZhJqGzdfyQ7lIloG1WvObIM0J-2BZBHjrZpkUpx5AgnEeuuoy0-3D" 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;"> </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_579921" id=3D"n_579921" 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: 2018 Vint= age North American 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: 68.23394495412843%; mi= n-width: 68.23394495412843%; max-width: 68.23394495412843%; 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">11.90%</td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Top Quartile IRR</td> </tr> <tr> <td style=3D"padding: 0 0 12px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 100%; min-width: 100%;= max-width: 100%; background-color: #40C2C9;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">17.44%</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;"> 0.15x </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= swouzUkZzBoC0HPCPY8RnPn5iS0op1GfD8Suylk6O92FHRI-2Fw-3D-3Dm4pD_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPS= ipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQH= UPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdp= fqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONuJIZm-2BekPy88Kk0U-2Fu= -2BN1OpDNg30RRRcmu1MZ8REOiN7ibB0OEmW94ZpUJDZ1nOWjer-2B8A36Xsn-2FqVIOc9-2F1V= Myo7CXpP73BxViXLhJ7aWF1TWSAqntnBH2MytcUGCmEIUvV1VgfZiVX-2BjDon6bBR2fbU7s5vq= 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tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzUkZzBoC0HPCPY8RnPn5iS0GiYfaDqen3CT5k0S9IIuxA-3D-3Duj15_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSip= AMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUP= iwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfq= BA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONgYTqD7vFSDUYa9K5gJ5rpCuI= 3NBZ3ZCB7hxBhSzgxNh1xuEK3q-2BRbNeSGGk47v4RCdncc2XW578Zb5YOzAdS-2BnlN6Q0iw0Q= Lj5p5OGQ4aebTJKKokeq-2FSjS23dCsL2s9ZeGw-2FxJGDpC1bfVmcZhr-2Fa-2FWYU23-2BBE9= Gat-2BPJnVU8ycP6z7c-2B0ygrU964LF0tRyYBylD1FYJU8YVW9IhB9xdVFQI27VoA4NxFRLs0W= bQEKHbvjY2i2g1pqE5NZ8d3LpiON8e7EfqQrrOr0c6vBrik-3D" style=3D"font-size: 14p= x; line-height: 24px; color: #1D5080;" universal=3D"true">Communitas Capita= l Partners 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-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v67KrqcC-= 2BULDDLyjeaXlx8K-2Fw-3D-3DaO9U_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH= R4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w= 2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F= 7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgs= a46yK22iArcalP1HRiCiONmGJgiJWsuox0RZV0Rj6xqW63oQKRR273CFs8-2BrwYxzd3Bqv1ERt= EwjI7XZUakx6PPQS2JmGIVUPeqfK5y0DQCUXRSOHVLE0W4wjvSp-2BNYdOx6rvWbDEOE8SxoNqf= L-2BoFibee-2Bu8UoCeRAtBWWVHf3uHZ9Q9adQtZHr8qiuMjB3Qk61Sv30klLVNxyeqzl9FHL-2= FQNBWv6kdVevqSJMvd9WKsjfM-2BJW19DxwZeUMZj8lKitLLXpzupFgBMOuozb5OIOI-2FCUQtI= kh3wMkLAjjIziQ-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: = #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal= =3D"true">57 Funds in Benchmark =C2=BB </a></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check = out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW6zr0Iw= ZJjJRZ38cef9v67QxoMmr1ODOeuhPrDwlRqgg-3D-3D0JXJ_Pr966knuaHmaw6c7pKvB-2BCEiD= nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJ= Rzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BA= 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alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: bl= ock; 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>VC Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Califo= rnia-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v67= xRgrTa1YBBPA5mDWnq4rbA-3D-3DRcc__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2= BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM= 8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H= 0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMF= gsa46yK22iArcalP1HRiCiONhAUXgoBYjtWwxkqMFszd3dZgeaXbGTUH807No9uYa5qDC9KqAsP= 3IMEK6XM0Vse3SaKQF-2BhnljZ5uj2xtWrVu1YqB8d9W8BsmlsjjxsWX0XQ7GXQiYFEyEFdMZcX= ONsEFAQXcII6RaW6HiXHAWwQumB-2BiTyERaNrFVuRQ08-2BmDojFFQyzbzBTPvLdHWQkTVdbPC= Bv-2FR3GGs6maUGOnmPPUE5UYfWmwFaa7ElqYVq5UorrOzhmmgMhHqM8lr5qq-2BpynKpZJ2Dwr= qptXtssnnTXU-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ups= cale AI</a></b> is in talks to raise a new funding round that would value t= he startup at about $2 billion, Bloomberg reported.<br><br><b><a href=3D"ht= tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS= WIrf6GFa-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v6786cdYq81AiT8-2Fg-2B4j3fw7A-= 3D-3DggA9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68= NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG= -2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vM= FayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiO= Ni6ll9QEJBNmAFvveK6Rlo4x-2B7dAOWD6updK8hiQlTWPB0ggoXbIpbqUpugBdYlfmSGHY99tj= ArtxEA57pIw861gU5LkSK1R8WSJvYUhj5-2Fd1G32L8sLdr7gIkvNdcw2kTaTKmvTWJyd2SJ3Vq= zGOszB24pEIYcF50O5ADnYCBRcJuu9ofIztsKTMgrkPywIWsZKbopCHeH71I39dAmuqgsowBDK5= -2F7IwTuBXbG8xkaO-2FevpvbZ7-2BKI1zxLYlpa-2FJpVwCuK3ArToKE1ku9tCWa8-3D" styl= e=3D"color: #1D5080;" test=3D"" universal=3D"true">Factory</a></b>, a start= up developing AI agents for software engineering, secured a $150 million Se= ries C led by <b>Khosla Ventures</b> at a $1.5 billion valuation.<br><br> Logistics platform developer <b><a href=3D"h= ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp= SWIrf6GFa-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v67wHNJZsOMqvJHyWZ-2F5uL8iw-3= D-3D0lun_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-= 2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMF= ayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiON= sHggHZvBy756gzcwobjAOlbNFoWud5qqKRNjaUtwVs8DprnMsp98zpBmUyg1wPFSqZBHnFtb9VL= dyo6RnpyGFxXBNAqezFSBdbA7UEPvmgD1gkQtO9GimhEiAkc6-2B-2FIyotgWj7u-2BeDUjyOE3= 2iJh3FTTxxrJNbapWKH9WmbYu7ok17iwEUn3khQ8SzKZAHmPWRg41MxHcwGUfzQZCDdxTIyk-2F= iLoqWPHEKinEHfdRAzU9sS-2BTYLmwHouBIsIOEc4Cgl0P5JL4tI76b-2BvhMEQ1Q-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Loop</a></b> received a $= 95 million Series C led by <b>Valor Equity Partners</b> and the <b>Valor At= reides AI Fund</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com= /uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW6zr0I= wZJjJRZ38cef9v67Y-2B6HNKrPwFJ-2BzsxZesZCkg-3D-3DocfL_Pr966knuaHmaw6c7pKvB-2= BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGc= QjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwk= Z-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJ= Jj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONvTwfu-2F6ZVTPW30LR0Zi331LJNS-2B= 0E6Kvlbh72XcdftsvoGQ3NM4zkS93VXuTcay5XEq3t1PZovxZytNvGbfYbSztAQ1u3yS7DkxqRk= xJ0qx8-2F446KoKlBkUz-2FLSgxls-2Bq6p-2F75hTlIkXMsTyQ7Epv83SYkWNJEYJxMPv2zXI8= LdHyROnHo14XHbS6YweFbM4Sl8QN6I9Yy1Wc9J4bx-2BcYen2i053x7OhkKKD6KgfnNJNuk7PL4= pfW8uVFEA-2Bkr2pFOksRwXF3bvnDtVCnM8yAQ-3D" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Ulysses</a></b>, a startup developing autonomous u= nderwater robots to help restore marine habitats, raised a $38 million Seri= es A led by <b>Andreessen Horowitz</b>.<br><br> Digital business management platform develop= er <b>Nas.com</b> secured a $27 million Series A led by <b>Khosla Ventures<= /b>.<br><br> AI analytics startup <b><a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v67UT3d8cWHqps2TdoVnx86oQ-3D-3DKLN-_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAg= HV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3E= MUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bP= FSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONhrICV7GHeT= 3Vrt7hZ-2FvgZZbN-2Fkq9Pc3UWtGn7-2BclHfYBZS1cVkG-2BP9hu-2F57BfHJoAGk6-2FwEWs= ipl8er-2BifYOm-2FAJZfR3pVZEb1f79PBrS2xYgGnfNbIk4c-2BpmubwkyFxjFI53NgSPNwWEq= 1UnNHTuuKzToxClp-2B1L1r3Icjg-2BPXHQH-2BJQwlXypVxcqgMAb7g8JrJ-2BWsoDMOHyzkfi= bZDwe-2F-2BtXS3l-2BrI-2FIx-2FfYlV6isZzQcuzx1dPdP8if2-2BsMnedNHNXRAOuj8HArTl= oS9L-2BI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">TextQL<= /a></b> raised a $17 million round led by <b>Blackstone Innovations Investm= ents</b>, Fortune reported.<br><br> Swedish semiconductor startup <b><a href=3D"= https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzW6zr0IwZJjJRZ38cef9v675MZJn4-2BDgYRospHiQTZAhg-= 3D-3DHfbL_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68= NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG= -2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vM= FayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiO= NrIcArYYjl-2FthVWcQBIJiq8IviKptgceo3tLYSjmlFOlFvih2Z13Z9-2BANsQptXC7tX7-2Fj= MjrRz6B0kf7gWFTC2Q0Xa-2BLy-2BikprTTY-2FvDli-2BZFvaeMBaLBsipcSDCO8R9xqfUJFz-= 2BRHLzLRunxwz6eZGgOe5BcxhxCWJgMZUgc7-2FsQoKZ7QL0XuufhfQ9LqWHnKwDATaL3CqIOto= a3OgX6sYuL6R1qw-2FTqNsPJMo1fRca7wHPlUAtOzL-2By64wKm0YJoWP4YzBwvPYZ2LyIRcWKF= k-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">AlixLabs</a></= b> raised a =E2=82=AC15 million Series A from investors including <b>Stephe= n Industries</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/u= ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW6zr0IwZ= JjJRZ38cef9v67yqlH5yGmDKLNG4mzJdl9HA-3D-3Dnmr6_Pr966knuaHmaw6c7pKvB-2BCEiDn= j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJR= zs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk= 1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljP= kwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONvM7KRKDJbds-2Bi-2F3cW6fp9pS4Voa-2F4Gu= gsvJN-2BogIEOe-2FX-2Fvxse4lPDm-2FjBHirmGiIVCroIIFU76TuC8j8WZ6v-2BYq6wuAkvLy= nLtnpuHEq5iFcHtJ8H999FzT9jCEDSUbOQHRl2hAKjtP-2FJuTj6ICHe-2Fhc7FGoR-2FXs7khT= LH3CyoFZT5s-2FwddMmheTRsC-2B7P-2Fvf7YIey3oSpIw-2FWMy9uTNUwOoEUBqv0BbiqHfjSS= 6hq5z0NTwApk5txe-2FCGeWeYf6gR1TEThXbh4H-2BeW7ndZ8g-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Zenskar</a></b>, the developer of a bill= ing and revenue automation platform, raised a $15 million Series A led by i= nvestors including <b>Susquehanna Venture Capital</b>, <b>Bessemer Venture = Partners</b> and <b>Shine Capital</b>.<br><br><b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKqrWmIBcywRVBdYQOr43JcRA-3D-3DvoqG_Pr966= knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6d= SjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwA= Oam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd= 2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONsxGIkPDc3pez5G= rHg-2FDaJ12hhgUXEeMVVMULK6WUdC7ChTcfwrWWkCWLe2kWuTfaCbpLp8eeK1VmEGERlug76NU= RKRHxXfuXDhbKBKUXNORPOE7UdZuLFC2Mk468lSbZJ9iUP5JRc5KCLk1xHbQPzDm4Vv7CLWW9bH= rielaLmhdxI9RiK3AYAuQnMWESMvVUCC6EpnZPfdI-2BKg2xtYw-2FHuftkrYiQfkeO5yAkJJwj= Z3PambpuR4nms1Mww1EtHvXDKeWtm6hFyxJSfbuWJXanY-3D" style=3D"color: #1D5080;"= test=3D"" universal=3D"true">Eigen</a></b>, the developer of an AI compani= on platform, secured a $15 million seed round from <b>Benchmark</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>PE Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Arc= hitect Capital</b> is in talks to acquire a minority stake in <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKqdd0C3SYOqJax9tVZ5AhOZA= -3D-3D73Lu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bP= G-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5v= MFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCi= ONlr-2BL7EYKKDc8oDEn1MyU7a10HeMF381x8j3uikTAeWb1Kcgr6InLitl0acUCRd-2BF-2FMP= 6Bj9RapCAnAJ41XBrvxvznzr5N-2FJ5qmX3CcaTrzxz21mKzA6AL1lmtpOfnpLz4H7wadBHUa-2= FiTF9AnNCikdnr-2BS53Wa-2FW8mX7LKo8xd1yApapqALCPrmb-2Bd6Hp-2Bf9kQ9M2-2FxsLOe= a4L3-2B0sXvrL3syx68qLHQ3IrFj6aPlEk3LEqLl3yMXp-2BoP8FHQW5phfKZHDh5wOt-2F4bHa= o6Td3A-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">OnlyFans<= /a></b> in a deal that would value the adult content platform operator at o= ver $3 billion, Bloomberg reported.<br><br><b>TPG</b> invested $100 million= in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKq8Kahw= ZpOf5pPrBGGCh0Qog-3D-3DGyYc_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NK= ZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hY= ZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46= yK22iArcalP1HRiCiONgWkOapcSS7xNQmQiGHwChwWW-2B8ignF7VxitRJCtxRWdW5c4d-2F8VG= 6YuGZauftnCihYw0yF57CI15GNM7Z1-2BMyYxNuzddY-2B-2Brk5opgW6hadt0CeW2gtvZhOztq= 4lP3RJBBQuR3QoIg-2Bs-2FCB4zzgu0PsY5nbANt0mGErkkyTOM6-2BUkIsnqq6Cjpgawi2yUXU= kp9RIiJB3hk5S2euJhyrMqrCx1uLCJj-2BFj69uCqhf-2BfdbEjOQOGWujCm-2FO-2F-2BESecJ= hZYhGfM3YtwVTO97HF3NLVw-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Zum</a></b>, the developer of a student transportation platform, = which is valued at around $1.7 billion.<br><br> Abu Dhabi-based <b>Axight Capital</b> bought= a minority stake in <b><a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2F= vXpocBtfRxKqIeIkeiVFU7dpaD5HxCfIvQ-3D-3DMMh7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs= 7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1z= UrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkw= ki6fDp93lFMFgsa46yK22iArcalP1HRiCiONuBEAOK5DqAV-2Fd8DHcgLra-2FOV2gvMHZ1UgJN= cuYKD8G5Qhsb8eHjbO-2FgiOr2TDmsN-2Fv-2BmTcbsnTOHqGhU-2BrJ82nZcC6PPRWQtX-2BB2= 6xwGLbHZlgkmD-2B3NFdNrtVaffaBh8lTTSPj4-2B4wlO-2FuR4xUjaYMF8UsCnqXUzqGnk4ajq= 1-2Be9-2B6iPRWa2m3LJ5TM7e-2BdUbnmdlr6hpTnz-2FDu90q32pR1RxFfqiQ0MQS6ZNv0-2Bw= rRIMLvQmN7hUFxu0KWueo3wsXFSeHL6eLFKoHo0UQD48-3D" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">La Trobe Financial</a></b>, a Melbourne-based = alternative asset manager, from <b>Brookfield</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>CD&= amp;R</b>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpo= cBtfRxKqI6wAFoKNI-2FsA5bWVUI-2BP1w-3D-3DR0we_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs= 7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1z= UrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkw= ki6fDp93lFMFgsa46yK22iArcalP1HRiCiONryqDzSW5J0uFzAbV5smqaFyZ8hmWyU8amHA7Y3g= cc9rO1kO36Xwsv3PodapLCK3X4KG9ojZibr6i95zhB2q-2F5FF0l05x6YkeZ9-2BOKXr-2FYwTZ= YY58K9OhxxZ9TbpRy-2FVhRlLS78LO-2FYnrzP1ry-2FKcd8Lj4-2Bn0vtV8JK2cFemy9CGaazE= iG1rhe-2FZrL-2BWz9eymGe3vawMNIxCNSyvxMI27dK7zmR0rQYvS4gSrIMPS-2BqA4Ss3fm3Yw= i8kd5EmtjayHZohc6o24pJqaap7-2BmvS0PQ-3D" style=3D"color: #1D5080;" test=3D"= " universal=3D"true">Belron</a></b>, a car windshield repair business whose= brands include Safelite, is preparing for a =E2=82=AC30 billion IPO in Ams= terdam, the Financial Times reported.<br><br> Lithium-ion battery manufacturer <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKqfyuZ9YS27KFUi0Motyn= WsQ-3D-3DRPYb_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U= YA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG= 8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFw= Y5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HR= iCiONr2G1gZJk3I8PnxcopJWQBDJTOP5giw2r98gyEkLiqoebGw-2FNfnAi4JquIW2uGgkvgauO= tjVQVUgjM4wkFbS4Es1UAduU64BKzhX-2FZW9cG4GbmaAHplzvH93-2BhFVCZQC-2FHCHIG8S4H= 1NIeBDOyP62-2BGgobfltMQY-2Bz-2FPxkU-2FD2ua1YHM32UoUBHlwxd2Qt4S8qy9uOhsOQXuE= CYV0yuLv3TFN9VyDqAGhWxiZwP79rZ2AVF5Vhej2JzfX8-2BDp98rZO-2BS-2FltTUZw4kYjGsU= 2F-2FY8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Envision= AESC</a></b>, which is backed by <b>HSG</b> and Singapore's sovereign weal= th fund <b>GIC</b>, is in talks to raise $1 billion to $2 billion in a Hong= Kong IPO, Bloomberg reported.<br><br><b>Investissement Qu=C3=A9bec</b>-bac= ked <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKq-2BRP= 9bbyymAiXrBtgU9KCNQ-3D-3DF79A_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2= NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7= hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa= 46yK22iArcalP1HRiCiONlSprEPAr13Wz69DmghVJEzM9zV2TvLgDCoK0zQiGENwB0gEBHC9sSf= QoyHwpGXdmgk16VxerVBMH-2BiQH9QYkYznWLdYK7T4aQae6Dl-2FH8HAxX88Qrw9mmScgEpbzE= uiVOZGu4w4UO9sbbCKu-2F-2F73XQp8MQPwS7jG8zR-2Bz6oJrDYLPdOjxjt1QAsgOvfOfomfAW= MxJZxHvh8HBRsKDtFdB6-2B562-2F0-2FT5QmIYVjKWPxsMz6U4xmRtxKJ1ZhY2HWB8QBu-2BYH= IYFHEcxTxJFwRVaZo-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true= ">Metro Supply Chain Group</a></b> agreed to be acquired by <b>Nippon Expre= ss</b> in a C$2.2 billion (about $1.6 billion) deal.<br><br><b>Bain Capital= </b>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfR= xKqIUb-2BvhvsjpzTbLpsK5AfAA-3D-3DdL7M_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0= YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p= 7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE= 1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp9= 3lFMFgsa46yK22iArcalP1HRiCiONmRaMwoTV-2F10JfPDMmxmC7EXqOQBP9LzsNKphGCZyYojl= u-2B-2BjO9w4MgRXk8f3i6Sb-2By3IjAkvm379NnrKDQmTBqGQk20EycOFhAo3VTI-2BqY9Fpkq= kSEqDJorkNbprRhldtAQIkDVyj21pK-2Fh-2FrtfHfsEZs25y2tW2gmxw95IOZZvRqninOWTx3w= SFHup-2Fd2n9qnQ-2FsGGNeLUtg0lJVmgrG3uHhsFrwAjS0FS9zx8rOor3zSLKGz9lfMYNDrCD-= 2FCsCf293rT2NUW-2FmLJ-2B0GbBjLI-3D" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Kailera Therapeutics</a></b> biopharma company focused on o= besity drugs, raised $625 million in its IPO.<br><br><b>Madison Dearborn Pa= rtners</b>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXp= ocBtfRxKqClbGv1KN1X-2FfaHqRwjzqkA-3D-3D0wPz_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U= wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7= 334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zU= rGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwk= i6fDp93lFMFgsa46yK22iArcalP1HRiCiONrK5wfM0izKValVcC2O-2F8lxuNEsL7JHi4T-2BrV= ozvqawRdH0oOBibAMl2h00-2BoDGFGPDRZ1dQecDtMIPLPDi-2B5RwO-2BGj6dN-2Flx5j0OwS0= BtTuSl24czQBcIkEH6OU9y4TpQyoctDcoJlfKEu8n5CY2QQu-2FvuMQhdKwBf1kMf23MlCCzRRw= KcYSIa5Lv5waGRRgPHpJhCycKRpVhfshL-2FXlzySPlYH6-2FIGhlFDFZqO-2BHPZgUzaCkDzxW= zdAXmFd-2FYfQ2-2BqraNtVExC7lJil27ZfpE-3D" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">Aevex</a></b>, which makes military drones, raised $3= 20 million in its IPO.<br><br><b>Macquarie Asset Management</b> agreed to s= ell <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUcM43Hbxc-2FvXpocBtfRxKql9zx7= jQme89uMIGTRZxH7g-3D-3DCQKt_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NK= ZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hY= ZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46= yK22iArcalP1HRiCiONrOpa-2Fm0hQ058PwEZO7tfgFqmf82WlpCXwSuG4zYKK90pOi-2FHUfT2= YhFm-2BTc81KDOM318ltYQwpuSa-2FTY8-2BmQBPjNw-2BoKJtBFtnumEIOigNr8aqtmMRI4n1T= c5JIkTdviphJ-2FXf3IWdPkOQpdq-2F2zGx7ctRsCSF1HJBC1fPeiesqFgY1PIg-2B4QSlWa-2F= Xrj0i9BnDvjRLd-2BxsJi0etiG4tOEBOmE1HKiVlR1uWnuVoBb-2FhftrdsqfC2uYEyOTAZ3z7f= VlFi3l4VbTg-2BmWlL7YDMM-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Evryo Group</a></b>, a Romania-based energy distribution services= provider, to <b>Premier Energy Group</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgZpLft8sbZjnvbrr7cdxnXDg2j-2FDS1bAhq63= mBrNm2Q-3D-3D98WL_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C= 2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2= BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcal= P1HRiCiONoNcdGbL3VPY1uLE8tT2UE1VFfMAg1Gb45wmUKlWS-2Bn6LznRvdEx-2FNPO3uOhqp1= 4RcPMxcZp-2FRopZXK0ArODI9tQsxm4wwJTxbi2czY2UPZLN43Yp2RI1EnxG1O5hAB4-2BDoQVx= sk7kJNM783ECTt4cOgpXgUtV17dnHFIFvzx2pXpeuSt4TXZc29ZRtW1ziGQ-2FAvc298AChs7er= qkZTRcQ7YOQwsniFW5HY9ZVrB6hi-2FIk525ySNW-2BCpxXPmvQ8BFzWuFYcBo24nyfK-2Flos9= hS0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Partners Gro= up</a></b> closed on $9 billion for its latest PE secondaries program.<br><= br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUgZpLft8sbZjnvbrr7cdxnX2svL0Ax= 99C2U15ALZZElA-3D-3DGIx0_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD= 61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ4= 5KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpfqBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK2= 2iArcalP1HRiCiONuwybiGQogwJuTq86Nzik78NMXpAlaWm2Xoz7ADudk1XGxIpuEdnwB0N9j7X= rdiGtAMrFX38KN5aBOxaX85SxeLokzskv1nrs0IHDx23SoPdmKM5nOK9gFEbFjtkDZyPdEHJJNI= 1g7vCOKusiRIBFwtgG6k8F9MZLml9Ls0pIYE6irESR1YbEoTnM4N4uI9oWNtEx3SnrP9u6ApRVk= nUT9KJM4fAs-2FQzza0b6fA31cEH8d4f7rWquoGcMXKXCaTAIhyzIP55Q-2FSDdwup64dr4QY-3= D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Sequoia</a></b> r= aised $7 billion for a new fund dedicated to late-stage investments in the = US and Europe, Bloomberg reported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Chart of the Day</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; 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-2BaqM7ONnvsnswouzUgZpLft8sbZjnvbrr7cdxnmTludUCa5= Ex0uOU1i4PmdQ-3D-3DTPP6_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSipAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD6= 1UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHUPiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45= 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valign=3D"top">Capita= l commitments to European VC funds have been on a downward slide since 2022= , resulting in their worst annual totals in a decade in 2025.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzUgZpLft8sbZjnvbrr7cdxnmTludUCa5Ex0uOU1i4PmdQ-3D-3De39j_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRxNfJSxAgHV6dSjjMBCPSi= pAMnwfGcQjicJRzs7334n8p7z3nM8w2NKZPD61UD98C2zYG8bPG-2FpEZLpK3EMUwAOam-2FQHU= PiwOkmwkZ-2BAk1zUrGWNgE1770H0F7hYZJ45KuXx-2BkFwY5vMFayCm91h5bPFSAd2LvHeOdpf= qBA2-2FJJj4ljPkwki6fDp93lFMFgsa46yK22iArcalP1HRiCiONqflqn6bHLnpY8y7MKkrIjJ4= -2FseFK-2FxcIsQGUbf1GNXjcZ14cl-2Bp-2F0V8hjfbBilwXylbTIFH29eDbswj7pCdlQg7P5f= w3CHGKguFECe4ZSrnzx8Oe9XSPwGGFyI3vVB292SoFrJaoj-2B8FIlueKuNI68CZIdJde6EAOgf= M4-2BAKfnrUBiJPFWD0cZ6IKIiC8UtafPUzf5OWw8MLfD2BUzYncWGI9wuAbEVmcQBjkIWya7uB= UxEOmq7bOYDXBbAxkCCHfphWV9Co-2BfV2y95l3rqarc-3D" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">European VC fundraising is recovering. Not eve= ryone is invited</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> </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; 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