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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 Eli Lilly's $7B hedge against GLP-1s; charting public healthtech valuations; take our readers survey April 21, 2026 | Read online | Manage your subscription The Daily Pitch PE, VC and M&A Your edge o [...] Content analysis details: (3.0 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 2.5 RCVD_IN_MSPIKE_L3 RBL: Low reputation (-3) [159.183.175.69 listed in bl.mailspike.net] 0.0 RCVD_IN_DNSWL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to DNSWL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#DnsBlocklists-dnsbl-block for more information. [159.183.175.69 listed in list.dnswl.org] 0.0 RCVD_IN_VALIDITY_CERTIFIED_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. 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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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margin: 0px; border: 0px; d= isplay: block; width: 100%; height: auto;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=F0=9F= =8F=A6 <b>Everyone from banks to biotechs is filing for an IPO</b> right no= w, potentially catalyzing a new wave of PE fundraising. <b><a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzXPyaBb3SJVNVErcUHIzJctVdTdjBm6K5-2BujIj9R88Vsg-3D-3D= 1KTQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6= G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f= 1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlh= m86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BIT= OtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXJTVd-2BJjo80BnSz-2F7gT1bjeAcmMx4tpaJA3= zTbOOefuCnlgEpnE4dkRRS8AXCD-2BVpG8crk-2FDsL-2FcTUYCTsQcTJpYJdUXyfb-2BmM7RWM= XfYO4NZhGkqyOVu4dsxMZn8LFIovVyUqkoubHpss6lebMDlx-2FgFG7Di-2Bs-2F6ZCW3b3KlQr= 3Mp7yT1Mczcd1fk7w2AwYzmldAAsJQJyVnnBoh00TV6XXeafGCAnhDl0QcIr8Q36s1MS3jrRuIN= mWZ5n88u6Lz" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Read ho= w in our latest US PE Breakdown</a></b>.<br><br> =F0=9F=9B=A0=EF=B8=8F <b>The Daily Pitch: Un= der Construction.</b> We're working on some formatting changes to enhance y= our newsletter experience. Have feedback? <b><a href=3D"https://url6380.new= s.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzXPyaBb3SJVNVErcUHIzJct-2B-2FBoJ4pYOgw6NM4dRtJeZA-3D-3DVSyQ_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnH= Xyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q= 07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFF= eWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkV= kUgSFeI8mxGRD6BpqcSKXTDRmBOHntvU7pMJwRnFRV3ZVYagLQ8F-2BjqnbopBvkWlC20uw81x-= 2BQaIpWVrfbaPAxzx5zTr-2FAl2U-2BW5O44ugCnA6b6seLSMvaVMRrJvD-2F-2Bj9qy6n-2Fiv= AYhPxmFjZC-2BRAhUFjanTF1VMb6AyFlu7QVsulnLnCym7DzIVnk4J7d4u5nEp9HAARZbj-2FKP= -2FDqqPSNCASmKVIt8I6xcK-2F2d0dGYnoKnmyUZa4pzdR0EghL0FxA70wwULH5JxFsaASrczy"= style=3D"color: #1D5080;" test=3D"">Complete our survey</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579989" id=3D"n_579989" 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;"> Digital infrastructure vehicle= s shatter fundraising records </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By = Anikka Villegas, Sr. Analyst, Fund Strategies & Sustainable Investing</= i><br><br> Private digital infrastructure funds=E2=80= =94those investing in datacenters and telecom=E2=80=AFinfrastructure=E2=80= =94raised a=E2=80=AFrecord=E2=80=AF<b>$26 billion</b>=E2=80=AFin 2025, almo= st four times their average from 2021 to 2024, according to our <a href=3D"= https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzXPyaBb3SJVNVErcUHIzJctZ9Uwaqnv2lEhlncZ1ov6BA-3D= -3DeCTy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= Rv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM= 02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2o= rlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2= BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXCsZQ1VfeNM4-2F71ug2ElJUKNyF7hbzfVFp= lIdL-2FeE7-2BXffAogRXcAHqjodsLFtgvVxlzk-2F3zo6m-2FryPo3Gmb4vhG0hhi7YV6JvvF9= jLvtmO73tRGukhWz-2BR1pUnqJX8omGiTLpI-2Fe6L8eyAQ80s69LAlXZ7lDEGec1TBgwWmEjWS= 3XPC0iT-2FalkadQ6vCfxRR1OSA-2FzrCvi63tfPlkYL8V4dQf4mLORGMpJ1YL99or-2Bo6BiDP= enZWRfBpCpFRrVBc" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b= >latest analyst note</b></a>.<br><br><b>The surge came as investors=E2=80= =AFlooked to capitalize on surging datacenter demand driven by AI and cloud= computing.</b>=E2=80=AF=E2=80=AF<br><br> Specialist funds investing exclusively in th= e sector raised a record $26 billion in 2025, which was almost four times t= heir average from 2021 to 2024.<br><br> When accounting for commitments to generalis= t funds investing in the space alongside other sectors such as renewable en= ergy or transportation infrastructure, total digital infrastructure fundrai= sing reached <b>$157.6 billion</b> in 2025, nearly double the decade-long a= verage.<br><br> Allocators have increasingly sought concentr= ated exposure to the space through specialist funds that can demonstrate st= rong sector expertise, the bulk of which are based in North America. In tur= n, specialist fund sizes have shot upward. This is a positive outcome for s= pecialist GPs, which need larger and larger pools of capital to write the c= hecks needed to win multibillion-dollar datacenter deals.</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtr-2Banb4E= Rv2LiX3fAkZz5lw-3D-3DhGO__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0= EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1= LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6= ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXVgUaWmdYz3cFdmtAZ= B29n0JP13guGfDnfO-2FgCX-2BYQ-2F-2B93A86-2BukmmBC5L3mIG9QAjCOfWHFNPyHNdsKU45= bkRF925WJUkeLdjs01NcDSCnxCGwdreCfwP9hpvOCZY5BazvGUhC9HjqZt5MSxpS9vprzkj-2Be= IdDnYeEbp-2BcsrcDeyuPiZoTTbSzpBg-2BQDWfkAm6fNJw3nu9nmcpMMf8wm61p-2BmFB2deYv= xgL8bjLOYJRVEKWYSDYPYfrGVDmOWuxd" universal=3D"true"> <img align=3D"center"= alt=3D"" src=3D"https://img.pitchbook.com/news/73867.png" style=3D"border:= none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Per= formance has likely reinforced investor interest.</b> Our first look at the= returns of the small set of specialist funds shows that they yielded 8.7% = in the 12 months that ended Q2 2025.<br><br> This means digital infrastructure specialist= funds outperformed all major private capital strategies and the composite = private capital universe. This is despite headwinds such as elevated intere= st rates and construction costs, persistent supply chain challenges, and po= wer and grid constraints.<br><br><b>Looking ahead, we expect outcomes for f= und managers to diverge.</b> The medium-term investment case is compelling,= but many headwinds are expected to linger.<br><br> Further, uncertainty is growing around the d= urability of AI-driven demand, as efficiency gains could reduce computing p= ower needs, and enterprise ROI on AI remains unproven, raising the risk of = eventual demand shortfalls.</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtr-2Banb4ERv2LiX3fAkZz5lw-3D-3= DULm2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv= 6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02= f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orl= hm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BI= TOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXpV-2FzPJS5W9FCPzpGqcoM5bSFl-2BrvzkNNe= flQdF7WP8PKCbT6hlysr362h4j16osU9O-2FQ1V16AgzcuBiW7lKibVBaOdUA35uzxAyzFQalWf= V7lsbnGfhRBDE1ZFmtlO4JYgYYHnzNIz84w-2Fn9QvcwDV9G8QZ3mUuCqcV5CdLvcEgS6wMxTHi= fXALsggMB27BtmDOng0Ng1wzaCQPX78it-2FrzeZ1n1tnbhIdoJ96GkjMSohqq1inv0tMafZ3KC= lA4J" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; tex= t-decoration: none; color: black; padding-left: 3px" target=3D"_blank" univ= ersal=3D"true">Download the expert analysis<img height=3D"24" src=3D"https:= //fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: = middle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3= tiop4wdtCmHxG7-2BAam1jsoRZ35ZL1A-3D-3DtEWg_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gL= bKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS= 8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4= V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX= YuYmTvgcoD1etWH5-2B-2FcCFO6xoqjwofJmEcA6EwvGUM0A0HQOo3ZSYqK0JIGTW8SYHbMow80= QMNKBx9EMFSwm6RyILprjprqSeUBfy3SxCFCM-2F-2F4JMVLRGRX8gClppduT9f1TXTWtanWSnm= OBJde-2Fu93hpe4jz3RTsjxdgF9RdRtj9QH15gc5d2KPePmIAItc7sKz2aofaTVwpX-2FbWM09m= WiHwb2Psff1Tm6bntkD-2BujB-2BtqeOEFlYtoeEX58YSEv" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">Q2 2025 Global Fund Performance Report (with p= reliminary Q3 2025 data)</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>A message from Crowe</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579606" id=3D"n_579606" 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;"> Join the next Crowe ExPErtise = Webinar Series: M&A Cyber and Audit Readiness </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"> <table lang=3D"x-image" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" align=3D"right"> <tbody> <tr> <td align=3D"right"> <table cellpadding=3D"0" cellspacing=3D"0" bo= rder=3D"0" align=3D"right" style=3D"float: none; padding-left: 15px; "> <tbody> <tr> <td style=3D"text-align: right" align=3D"righ= t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtQ0fL5o6nXzAKBYf= hDQwJ1g-3D-3D-1yX_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXH= gAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEK= V-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi= 0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXbWX4f2Y0HVivIwevOe1vjsFOh= 19qpmOq-2Fzg4RYiSEfjmEirQOGE-2FT7rVLebDM6m2hw-2FC7FwdwW7BMeHbGGWoXeDJpfM5Rc= Lz-2F6n9cbwJXGbb4XWQwgfoeS85W8F3yT0ZuRUnCu-2BpDnvppURnBoLAITviTiwd5RXNtjuDu= X66C2wMtJmhbXDhblA4x649lC4csLG-2FoIiThNBL8iBJfS6Oj9YwQVjM8rCG5kRLr8ZISqB0ki= gVGIAspC5U0FuI03JLKBy9HxM5DEmYQxHRnguyUw-3D-3D"> <img src=3D"https://img.p= itchbook.com/news/73655.jpg" align=3D"center" alt=3D"" style=3D"border: non= e; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table> Join the next installment of the Cro= we ExPErtise Webinar Series on Tuesday, May 5, to hear practical considerat= ions for private equity firms and portfolio companies managing cybersecurit= y integration during M&A and strengthening audit readiness.<br><br> Presenters will first explore common cyber r= isks that can emerge during integration and outline practical approaches fo= r establishing baseline security controls. Next, they will highlight areas = in audit readiness that frequently require additional attention, such as eq= uity and ownership structures, intercompany activity, and complex transacti= ons.<br><br> Whether you are involved in deal execution, = portfolio company oversight, cybersecurity leadership, or financial reporti= ng, this webinar will provide perspectives designed to help you better unde= rstand today's risks and considerations for success.<br><br><a test style= =3D"color: #1D5080;" href=3D"https://url6380.news.pitchbook.com/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdt= Q0fL5o6nXzAKBYfhDQwJ1g-3D-3DJzkn_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2= BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJz= eIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg= 32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFp= rmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXtEXC8Fz65G= l-2FLCnIz73Nxx4PM0vybGyUgNiGNZVU9AU-2FQsVAozHf5m-2FZB6KlWk7X8d6vfn71dbj0jmO= Gi34alIHig05wM5RS645XxmXEaLkEl0htJnVgU4tPeyVPVN81Jj36OLuVPCp2xF3P7CCR0G06uG= b-2BC2SB3qRO9mdZFsf7iHRbo960j3ieAgEFvRdcV5LhwLDgGlH8wGakb-2FnQ27Q6-2BJir6kY= 3VNby-2FpHkK3yPBVphlqNa6zVIU6wjPmq67QTmgfClCapjIbZ3Y5J3Mg-3D-3D">Register t= oday</a><br><br> This session is recommended for 1.0 hour of = CPE credit.</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>EQT has defied a broader fundraising slowdown</b> by securing a $15.= 6 billion close on Asia=E2=80=99s largest-ever PE fund=E2=80=94a sign that = LP capital is increasingly consolidating around established platforms. <b><= a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtktaoOinTAfdDy9N= WGJXSig-3D-3DbMNX_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXH= gAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEK= V-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi= 0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXrMutXaxQIUcnEPr7WhPlgM9yW= JgWZDU3-2BVyynubY22WRP9i-2Bt19rpziZIw11pfOlSxonLDZacJuvBvoKFEUiuZQuVMoj1-2F= 9TAbRToQ1JrXGMLtABkBWIRlaP-2BAnWIG75kFdwWVHSPDilkePOGe3JYnmNawiLGnvIf0qFe39= ykw6L4SZa6PXO8jM3g2sW7xYDkuC6DEaAD3OhQwSwu7MILaKzUy8pTWBmoG6gWDDxOq69HqYC1A= 9NEqhz8e-2Fcoe-2BkHWIhzAapXB1wDMXpgwkAXA-3D-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">Read more</a></b><br><br> =E2=80=A2 <b>Just out: Our Q1 valuations dat= a for public companies</b> in the healthtech sector. <a href=3D"https://url= 6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtkVKWYaM9eYJSeghuvdC-2FAw-3D-3Dn-CI_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIv= Ln7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFg= dKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51= JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7= r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXBLhLHp7tWD2U1X5UN9xBFDJB4iLNaL2imLVko8-2F8SK= CshLtXVFXPaowyAN4cXiTbUrldVmI7S6mF1HYSY04oxXIGl-2FseU1HQc-2BE96lTedKXa9ASTE= q7PCzeYvHs6HIHwHWQXv6jKLGSXfcblQ7GoWAJE8TKvrrEjQDMzFi4aiY-2FbAH5bGZeDl4CVUY= CemVjW9wYywjdd2B6x7YT2c51qkBGcOvnLhm07q2to6FxJjlxMHuvHJy95Nf-2FUlzrrVXw3kyY= XNhZ6YgzdBJqzmfwWRQ-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D= "true"><b>See the data</b></a><br><br> =E2=80=A2 <b>A spike in energy prices is put= ting Europe's leveraged finance market</b> under pressure as higher inflati= on threatens to undermine the benign interest-rate environment that has sup= ported credit for the past two years. <a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzXiwPUJ7xglb2n3tiop4wdtY-2F21qvTZoQwnGjuObnOejQ-3D-3DbbdB_Pr966knuaHmaw6c7= pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6u= mTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC= 907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJR= xmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSF= eI8mxGRD6BpqcSKXHO5bJ1MRF-2F7KzlsVOMbSwNmAZtr7fm3TgZAzWZoQ5sZqPdKvjWGWX6ap-= 2F2TEmiUxNcRLnOaKrYjKebwaCEMPRLeuAparX-2F8loEY4rpUaPY7JqiNI8gobjkotEdOUFna0= -2Bq9fYaiSsTj0W20OfDO0tCh9Wv-2FPo24cVdiW-2BIR6yjJU0KnDbXQvPhjK8ZAWwZQ-2BRPp= mrJ4-2FafHWVujpHCCTuIS-2FyEvG9H-2BJp7pNFqp3egSjqa79mKRmjgkIIP19vZBxnLUv8Lou= XFsvBDw4BVIr1A-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true= "><b>Read more</b></a><br><br> =E2=80=A2 <b>South Korea's private markets</= b> face a structural reset as VC slows and PE consolidates, according to ou= r <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n= 73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtKhEg9TRlADNp= Gp-2FCI0x-2FtA-3D-3DkZ6j_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0E= P3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1L= Rxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6O= bNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX8F2MrzM1E6zVkEa72r= 3UZDA6xnpS8uFN-2FTLqV2eeeZoUYIuTMEoCwTpCR7VzpZOprebUdkgDDXnlHURiIxCx4xrcnGB= ENceykoD9OyqIdfW5rjfjChoJXC9DHG6kDVSN-2FPu4GONdaidhnTTeeM2NopUQ9qtdiP4rVAcu= QK7CfQnJZdbn7QM4XZd-2FW0OkuZy-2BfuxGYE5lk-2F8u1F75xXEKrJPleriW2560IU-2BBWFX= Et65RuTiAZBAmLjZmsgqZ8gNrg4Au-2B4j5Sid7f2eEoKenug-3D-3D" style=3D"color: #1= D5080;" test=3D"" universal=3D"true"><b>South Korea Private Capital Breakdo= wn</b></a>, now available in Korean.</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_579983" id=3D"n_579983" 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;"> Eli Lilly's $7B hedge against = GLP-1s </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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtMJtJG17Jm= 6OFnBPthTdrTg-3D-3D5D-5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP= 3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LR= xy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6Ob= NcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXvIY4itoYK0Zgz0uGSbx= 9pD47x05Lu9wTKZWMI1QHV0c0-2B8z6JnUuyAqWOr2H-2BU35CxOxDLR8W4O88JggYLgHaC648M= I3yGH8fPKAGbEfJnolVwUynbr11Dcd9R4fb3s5eCPbJ0n7pVLf815S-2Ber9oI2MMOSLTpk0QDp= HqxkA0VBa-2B8VnaSq0mSdd4-2BcwlILif0cMpN1jmCSqG3U7qiMYcs2mDk-2F-2F0LBrmuHWHG= 3qYC44k0Lxn8Hlpxt1kbLBPyhaSUNmIGKGE2z3KQqjgeSpnQ-3D-3D" universal=3D"true">= <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/73868= .jpg" 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">(Scott Olson/Get= ty Images)</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, Senior Venture Capital Reporter</i><br><br> Eli Lilly acquired Kelonia, an in-vivo CAR-T= company incubated by Venrock, for <b>$3.25 billion</b> in cash upfront and= with a total payout of <b>$7 billion</b> if certain milestones are met.<br= ><br> It's the latest signal of how <b>Eli Lilly, = like many of its peers, is using its substantial cash from the GLP-1 boom t= o diversify beyond the obesity market</b>. It's also a nice exit for a biot= ech company whose last round was a Series A in 2022 at a $104 million post-= money valuation, per PitchBook data.<br><br> "<b>M&A in 2026 feels pretty hot</b>," s= aid Bryan Roberts, a Venrock partner who led the firm's investments in Kelo= nia. "The obesity wave is creating opportunity and cash flow=E2=80=94and fe= ar about what happens post," he added.<br><br> Eli Lilly's combined revenue from GLP-1s hit= $36.5 billion in 2025=E2=80=94more than half of its total revenue of $65.1= 8 billion. For Novo Nordisk, GLP-1 products including Ozempic and Wegovy ac= counted for approximately 75% of its total revenue.<br><br><b>But the huge = profits on GLP-1s may start to taper off</b> as more options become availab= le, prices fall and some users drop off the medication.<br><br> And with patent cliffs looming for several o= f the biggest money-maker drugs that aren't GLP-1s, buyers are getting more= aggressive to protect their top-line revenue growth.<br><br><b>Meanwhile, = biotech has been getting a boost lately</b>. There have already been more t= han 20 M&A deals at more than $1 billion in biotech since the start of = this year, and the IPO window has been slowly creaking open. Venture growth= valuations have skyrocketed, per PitchBook's Q4 2025 Biopharma VC Trends r= eport.<br><br> "It certainly gives acquisition targets leve= rage, but it's hard to call [the Kelonia deal] an overpay right now," said = Ben Zercher, senior biotech analyst at PitchBook. "This technology should (= in theory) have more durable expression than some other approaches, so ther= e's a premium there."</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtMJtJG17Jm6OFnBPthTdrTg-3D-3D5= OSz_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G= 45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1= TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm= 86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITO= tgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXB2ETE-2Bt-2B73KqdS7MnTwska5CBUziRckQFxw= sF8aPCxiMH22z-2FLclU6XUQbfT-2BUUQ5jWtSPEmVVKik0GS3v6OhzlRGTzWbqlB0In5Hi9Y-2= BD5dI2biCe6mM17PA6I-2BZ13kV547w2O15WNJ91Xz9beUrnN1BQ0W2bUkuhAvREy0W8s40zfQS= nrEwor3-2FS8FT9Sr5K8Hbw7xF5zy30YwzfRv4HTpo7WwrDZRlWKF2KqTW-2FMWYmP-2FtGiYmK= JpHGgKZ6YIzOI7zF3-2B3SpM6VZl9hejiQ-3D-3D" style=3D"font-family: Roboto, Ari= al, sans-serif; font-size: 18px; text-decoration: none; color: black; paddi= ng-left: 3px" target=3D"_blank" universal=3D"true">Read more<img height=3D"= 24" src=3D"https://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D= "vertical-align: middle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3= tiop4wdttgpvKTtWIvjNnJ2eFyoTZQ-3D-3D1v8G_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ= YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbK= XfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8t= LC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3= V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXl6= K2BcT75eFA2yB6ukqrrnxd9iiGd7mQwO7w02lgjZq8E3n-2F-2FZ-2FdjBDrhG5gwmZp0bk4R6i= baPOTqBDOGkNMkDu7aLiYLz-2BZ0mOe-2F9Ftsv-2BZl3nGa1T72o3FL75edDQagRPM5O-2Btsu= LIVVb9OsFpS7-2BdqD2QoKcunpMAOInVzdFvOzZkeHOfWOqB9NyHGXUFuBRbapPpib0S2OzkJxL= ZJhJyH6Dz-2FQnh8lvKCkWhUoRjBIKhD6mR35mqNFi7W1fDjyShuH6V98ek7W0IARpddQ-3D-3D= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">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>Who is John Ternus, Apple's nex= t CEO?</b> The company's next leader is already one of its most influential= people. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtxNoBGySG= HcJOVm90ayjF7Q-3D-3DrIEK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0E= P3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1L= Rxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6O= bNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXT6F49KptcB1q4-2Flx= 8eOJkTFtAU-2BrAHB19JwoxIw-2FaL6LZYCINBAu1UTXVvW3iKtFOt-2BO9XKQaYPuG5Vj7eSe2= anZpIdPMUG5jBlEKDTWwW6GkmYeJtTy4NctS9h9NvSIe-2BX2Lu8L31jcOff8HY007j1XaQTl8V= rRgaMkF9m4gJXfh-2FlzZOu5b1kAFSxfQUbBID9nM9NrXg2CmT5PdripOxAQ8QfOeA3YtlIuNE-= 2Ba9YVq-2BIM5yoszv-2BiFVW2K-2FEuikkwzdlwjipam8CwocGSdJg-3D-3D" style=3D"col= or: #1D5080;" test=3D"">Bloomberg</a>]<br><br> =E2=80=A2 <b>Ex-VC investor Kevin Warsh has = his Senate committee hearing today.</b> If he's confirmed as the next Fed c= hair, it would be the closest the office has ever come to Silicon Valley. [= <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4o67ax3RZh8yIWVCtBOi= WySg-3D-3DEzfi_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8= UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAW= V8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2= BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xe= ddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXxL5AbDs858Pk-2FgvpzT3Onp-2Fq= 5eQ-2BqE1js07RH-2Fi5S0RMIgyZCHC96BzzcXg3XbtU9FkuqtZhBigsMsBWcEBYZQcQda8XtBO= x2XlZ1g42RkUqrG5K-2Fkn1MFJoNTLVUoFXmaKUseXwvIx3VbPm2usaseB8SIKvP1-2FIBWMLDI= HPaBnZBTfHShLslfia3I9in6wOV8HSR0TztvQpQcbfE5WsW4X6yQ5B2OdoZIrim8CgvdrKYNyDu= AWRZP18Jz1kEPm4cnCoofmVfFlZCCQwFgkaGA-3D-3D" style=3D"color: #1D5080;" test= =3D"">CNBC</a>]<br><br> =E2=80=A2 <b>What goes up must come down, bu= t sometimes very slowly.</b> See why gas prices can rise in an instant and = then take forever to come back down for everyday consumers. [<a href=3D"htt= ps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6= GFa-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4o-2B8Us9Kyj5MpM9kZAl9VOcQ-3D-3DeH= HZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G4= 5VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1T= rmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm8= 6M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOt= gFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXpnNnEgWpKKzoI-2BGZBIwvwgW5N8CibTrrSrWXYA= LI0qjZFURb1IaH-2BbQXtcQxZFKyouviYCULb4ZBs1CE5mdxfbyCeA9o2Ll4HmDM25b1ls4usNa= Lqum35DC4-2BieuyelVVRaInO9ESc5Qwzc2dbwRDgEgZEc7YalTt87-2FH-2BBJLkt1xgE5cq0G= HwZ2T6YjVqopAc8KV1d3z0-2BNsXRsuz03XSdh3-2Fx5uworQbWCxBzHCisHNA6rx-2FUDljHhc= ER3wADxL5AVxLdwdt73niKnrI4BRw-3D-3D" style=3D"color: #1D5080;" test=3D"">Th= e New York Times</a>]</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td> <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D= "0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 5px; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-counts-title" cellpadding=3D"0" cell= spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td align=3D"center" style=3D"font-family: Roboto,= Arial, sans-serif; font-weight: 700; font-size: 14px; line-height: 27px;= color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr= ap;">Since yesterday, the PitchBook Platform added:</td> </tr> <tr> <td> <table lang=3D"x-counts-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t= able-layout: fixed;"> <tbody> <tr> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-align: center; flo= at: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 748 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Deals </div></td> <td style=3D"display: inline-block; min-width:= 25%; width: 25%; text-align:= center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 2598 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> People </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 1372 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Companies </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 31 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Funds </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-counts-btn" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> <tr> <td align=3D"center" style=3D"padding-bottom: = 13.3px;"><!--[if mso]> <v:roundrect xmlns:v=3D"urn= :schemas-microsoft-com:vml" xmlns:w=3D"urn= :schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria= l" style=3D"heigh= t:43px;v-text-anchor:middle;width:148px;" arcsize=3D"50%= " strokecolor=3D= "#F79B3E" fillcolor=3D"#= F79B3E"> <w:anchorlock/> <center style=3D"color:= #000000; font-fami= ly:Roboto, Arial, sans-serif; font-size= :12px;"> Request a free tria= l </center> </v:roundrect> <![endif]--> <a href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oVoNuXfpdKHCTI-2FlbDLZrZg-3D-3DB= 7Eu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G= 45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1= TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm= 86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITO= tgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXLIEITuHff0ATbesugV0K9W0pmYWEWzOTFJo1ASy= BE8ZgnWYVtogW7LSZj-2B5zMG-2Bh-2FIJkI058abuCuOHKxEi-2BxdOuIxI7KXY99k0i1eC6Ml= q-2BYa6L8XC9zZZL4j0f7-2FJUwL1tKbH-2BApMe8twCjo2FWlO1zJ7dZSxNpxdVbjli4yfUNe2= pBR6y3-2BNOLT5jQ2ugX4Fwc8-2FfaCBHWbvf6pziG6Gf6w3x814qFz6Vi62eWomtFqwwPhNVg9= AnuDfXnOAC-2FE-2FdgNU-2BIDp6PwugF0Uzig-3D-3D" target=3D"_blank" style=3D"di= splay: 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_579977" id=3D"n_579977" 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: 2021 Vint= age Global 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: 63.73378454596729%; mi= n-width: 63.73378454596729%; max-width: 63.73378454596729%; 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">11.30%</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">17.73%</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;"> 0.06x </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= swouzXTl8IifUxAdd5JDeeNdc4oD0b-2BQwabygeD2Y3seq6uLQ-3D-3DmEiI_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXy= r6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07= mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeW= DJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkU= gSFeI8mxGRD6BpqcSKX1k6sRDKuuozSL5dXudhcY4kJFWcAcvfWJ9AfMLjoUBTu0E4gytxYIRJM= YPkwuJvnxqCh0JTT-2FMVfig55PcPFce29k6nZ-2B6-2FOcnjGWl-2F-2BWEy8tEkI-2BC3R-2F= 6GLhR-2FSJaqjhoBpuHjfMLDT5V3p5fZNfDxR9shFnJlRULVyVjtD1nH0KWQfRzeI1kTmlLDYz1= uyKZ7kLXLmhqOKIbNUebOpezxM37LCuIozi7zYrEavSzD38B8cx-2BaQoZ7BHgNy48WerBV-2FE= havIKlOHaYlGvB0zg-3D-3D" style=3D"font-size: 14px; line-height: 24px; color= : #1D5080;" universal=3D"true">Tuckerman Capital 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= swouzXTl8IifUxAdd5JDeeNdc4oQQS8C-2BqDlrkZ4kLTzjsraQ-3D-3Dgbhd_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXy= r6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07= mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeW= DJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkU= gSFeI8mxGRD6BpqcSKX-2BTCfX1MzFlK8YqMw4XO63IRxtEQlV0RGaqov75KkJaC-2F6-2BwLQO= E3wvD7k1ns7nNmpiAXHSJBNsikw8QbOHwfCnOYxmgcSVh47nubeuaLMdmf7PBS8hynEvkWXiT9G= -2Bjt2z2MLHlBBFx8T7T8tvjTOtw-2BPhRhJKrxfapWR1sGc-2FdXH0aO3NSGoOVJpRu-2F7IDp= tPLXCxqUVzrAzBAjapzgn14WKbBFcivx-2FzqXawgjmg8KXOVAyQc4p1tdvC9cSKjGDK-2B5MMu= Bg7cajlR8Zwp7aA-3D-3D" style=3D"font-size: 14px; line-height: 24px; color: = #1D5080;" universal=3D"true">Bain Capital Life Sciences Fund III </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzXTl8IifUxAdd5JDeeNdc4o1IzOYF0B6c48oroIhsW-2Blg-3D-3DQ5lJ_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXy= r6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07= mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeW= DJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkU= gSFeI8mxGRD6BpqcSKXT7p0drP0hrvo-2FitR2OvaaKqwMqKBwB1NsWccEFqLavVPdDqG8axqi6= BL-2BVhqBEcjoh0p-2BXMRx0FbT-2FUjzetx05SvHx-2BWmKnqs2or-2FzwGF0-2F425uOaNnlG= hc6LmDNo3qGjmWnPukcjTeGSCkz49yV476zmZZf1Sdj0xRKri-2F77wI47ZOWldFsfYIBS-2FvP= 1bo47WEV9bAuOyxkcPOcGo0-2BcZIrF5pE2V8i2v-2BD5wmlPUVHNWnPci0sN10ZYneDnvx7rpj= 2zlP9VAD-2FgdxqMcdifw-3D-3D" style=3D"font-size: 14px; line-height: 24px; c= olor: #1D5080;" universal=3D"true">H.I.G. Europe Capital Partners III </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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oFy0BUo= 6-2BRFEn42b5KWxBEw-3D-3DnMPR_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4= BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7= oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IK= XM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNX= Ws6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXU3hHrPXfF1h9iD= CZ3JRqLZa8zIDrPkA726B2MwIWbqyCB0l2EHcFeBv6V0R8ygTrzfm1Ksl5EsZRxGwnYtC5NZQqQ= xOxbp-2Fy23B2wHseCwQWLr9OZwGf9lxh8JpGsgQqrKC-2B8Lvc68vM6FdgM9AA-2F3gM958Ao1= 1YsHgbAQJVzEYRn2gH25HribPD1e-2BnSKaHkTArjQfK8Ay9ongKZVmVWnLIhLQxuCSxCirqDb2= jlUzXHoImFHhuDTISe77Y4dlpiSRGsTYEbUqJ7p-2B-2BZLAPwg-3D-3D" style=3D"font-fa= mily: Roboto, Arial, sans-serif; color: #1D5080; font-size: 14px; font-weig= ht: 700; line-height: 24px;" universal=3D"true">215 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-2BaqM7ONnvsnswouzXTl8Iif= 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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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oKQEXX1VFrsb9qRX0X= BuSYg-3D-3DtFUt_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgA= WV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-= 2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0x= eddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX5vCQj5cXPVcSVndxlMj015Wbp0y= 08pctN7HF71lTN00XQfel-2B8raXXleuAPXCx46OqP6tZ8PnV-2FnEfoVdsyXKUGVZo6fRJRuyp= o8QGZ-2Bgmc91FtthJrrwU5Sl7HxXqz-2BJjQ1KVXNXhS5c2xe9wxwIf0mBuPGYaSsirHoOu43t= C30hIoRN3Rgt3hGr5PkxpX9GAwmqLvgI4DX0e6zVmdQvSQ8ys7mRjy4Nd5zwqF93pGMV9SG-2FR= LqS8qSxlONedOrUgUbh1NRVdJVy3bA4s-2FxaA-3D-3D" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Cursor</a></b>, an AI coding startup, is raising = a $2 billion round from investors including <b>Andreessen Horowitz</b> and = <b>Thrive</b> at a $50 billion valuation, according to reports.<br><br><b><= a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfi-2F3aspei5wOUC= yVxGZNrPA-3D-3Dkv9j_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2F= XHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4A= EKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKv= Ci0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXXy-2F9L0-2FWeoHEb16Iwea= pD6vF0FIaCB6SIWSXbB-2FRtkQITCBxIB5BMi8LxC7c6dOfQv17Xtbb2dWFvfMKJ0u99SJCpkMJ= ZlNDpOzjnvQSU6ma6UuA3Iy-2BC16NrRkZ5JMac2R8Ns88mfUo0jJhaUf51B8n5NzmOuhjxKTqP= 0qfI9Sj-2BXl2EUB9DEB3FByEqJhXwGohL-2BMJKKSNZ4vUuci3Hi-2FCRFSUwfbjyNr6Qk9oP-= 2FnS7EHUwQmOZkBsK4IsMHnAyV0rqOgfrW6MQaJIEQdAKg-3D-3D" style=3D"color: #1D50= 80;" test=3D"" universal=3D"true">Recursive Superintelligence</a></b>, the = developer of a self-teaching AI system, secured at least $500 million in a = round led by <b>GV</b> at a $4 billion valuation, the Financial Times repor= ted.<br><br> Prediction market platform operator <b><a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIf-2BkdmvONHJI7h-2Fqx= sNfmGuQ-3D-3D8Whz_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXH= gAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEK= V-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi= 0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXorneez1FYjZ543-2FeNiBPISA= SRPmPJnEhqvRWncNSHeFFmrYZZCGx4l1BA-2BZ3olenM0H6NO-2FQkauYRnPovhlq5Wplrm6rS1= YPRLRBJUBY5Voe2gd4FU5CTb55VlXPI-2BbvSyqyBMWj-2BHD881ng6tr1x1r53Z3XKodjuZ1Z9= xYS8oT7cKGBHRFrBMKOOB4Dmz5K3S576DHz-2BNjkkA9k3SEJbq-2Fq23H-2BKwLIkvq1mf335h= b-2Bsx-2FSCi9R0BVx1ibeVnWzu6ZxwzAaa9SNSBBw70jouw-3D-3D" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Polymarket</a></b> is in talks to raise= $400 million at a $15 billion valuation, The Information reported.<br><br> UK-based <b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWxb22xiFa4g93giqgAHqIf7cpovHWb1bAb-2BJ9D21yL2w-3D-3DmHtn_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnH= Xyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q= 07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFF= eWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkV= kUgSFeI8mxGRD6BpqcSKX6w7QTNFdIkvudLDHCgvNkU-2FrBaM1HtOqz7BqKHe2-2BqY43AuEBI= K2hoWC4u5Jj6xMkfFQ0VNnRmd-2FPvNHOrl-2BSOcPyvwqG-2FN41rfgeD1wHq1DQgw-2FzYA4k= 73OeIswygyX0ko8xlGlSJ7vwIt6oRsKwo4ncfzMK2NSRgK3Iol-2FqHSk-2BQTQftmY0H0Ox1yF= Ycw3cydFxGqthKz-2FM-2FXl1smKLMNZSt7-2Biy0i4r-2BnsVtQT2XD-2BhHePvhabe7XFye4U= BYmcE8SnknBNmZXHlOpsHauiw-3D-3D" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">CuspAI</a></b>, which develops AI for materials discovery, is = in talks to secure a $200 million round at a valuation over $2 billion, Blo= omberg reported.<br><br> Netherlands-based chip startup <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfcHsqESx8cezUilCvhg3ywQ-3= D-3DY_Z8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5Wb= M02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2= orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-= 2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX4L5Y4xbuiss4wlkdLzPvm0m5pRO2b3M00g= Ozji-2Bp3zOUj8Kz41uzXuGJs-2FYORgTLwTTYOFxI1OCgr6E-2BWHZ-2B1LpXnhX4KJt4aYgsR= KKQF2Znen1iUjwJAQkOsbH7U1BW1qIR0FL6PqY-2FvHa0ZVtnj3WeClJc0MKgEq5HqZwf1Pxqm0= -2FMNNtYD1TDXicje60GFbNSJj5In8NvyEUZAm6-2Fy3i3e0pJ41pDmlaxvJk-2Fd1N-2FrCnFk= UptIQ1jVDByD1XIVxMxK36c19hjfWA-2FsxuESw-3D-3D" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">Euclyd</a></b> is in talks to raise a =E2=82=AC1= 00 million round, CNBC reported.<br><br><b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWxb22xiFa4g93giqgAHqIfdvpA83KJX8qhVfT0OYx9Ew-3D-3Dt64U_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXy= r6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07= mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeW= DJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkU= gSFeI8mxGRD6BpqcSKXvy37VXPJg7MsUXs9wAb7to-2BE6AMp3CbN4Z8LwFXvQLX7s-2F2q9zm4= w5yG8lIflENdueq-2BGo2rYRMUl3smum988F2zNsy3LofFWR51xpQ7xKOTR3WQmfm9MkJiLkqdp= -2Br-2Bcu-2FBtcZlKkqy-2F-2BpTZM1gYNUpQf1-2FJrNEE30nbYuhAfgJdDhja4-2BMjOxolE= NVnkL65TAYnuZY-2BSxfK8w-2BY-2B1PIglX2q4CW3XhiMfsYcRNE41LsUwf7vrY7HCR8-2FYrl= Y1rwOxEa6uVOVEHmDFDnzScgA-3D-3D" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Rivan</a></b>, a London-based synthetic fuel producer, receive= d =C2=A325 million in a round led by <b>IQ Capital</b>.<br><br> Swiss advanced manufacturing fermentation st= artup <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfFtZqG= C9kc2roQLsADaHDHA-3D-3DCdPY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7o= C0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKX= M1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXW= s6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXksrHSbI48avluSv= mJcTGyG2nppdyndLq9cbaJ9a8o92Q1eMuQ8PGveF9OeYF-2FkmvFM10-2FWGDDoBCaOBGd3pYfN= q-2BXknqztUF7fkWg4d-2BHkpQ3U76k66LlK-2B6E3MwoBd9IKEMdp8TEnGEXBEeuna-2Btw4Jr= 5c-2BlxWZUIV8XQeVbAxt5GdtIvStcaKMyeeFTllhT-2Fcmlfpt-2BMlmgfARI11N7lm5asIPwe= 2wwsxcJwemjfR-2Fs5XaUohrRRDtl6B1-2B-2F4nlvTk5SQumlBgabPRgJ-2FNCg-3D-3D" sty= le=3D"color: #1D5080;" test=3D"" universal=3D"true">Planetary</a></b> secur= ed almost =E2=82=AC17 million for its Series A led by <b>Radikal Capital</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>Blu= e Owl Capital</b> agreed to acquire NYSE-listed <b><a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfr-2FUKrTEt5jH3H4-2BPXm9lGA-3D-3DzDHa_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIv= Ln7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFg= dKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51= JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7= r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXpYhC3IvGpI7Cc68cEcT54-2Fe6KdMpU-2FIhurnwm5Xr= AaSR7OL-2BSbtiG5XGCh-2FAle7ToUd256ZvbIwOcC47CezGWIDEJpvirBrqDj-2FoIcYA3BFsi= AT9K47-2F1Wl9p7l3W8CDaIvlTF6eznJFoDyKE-2F280xLMz1iACUXsKsS4iYtSxE6wCWqGb0hx= wOa9PtGkHvoxoyIdnLgxKjvULWjK31tA0Qkq-2BVxJUAFnqYilhONbSnCeharfpLVnNIO0F5-2F= U0LfmIVwNzktqz0lmB61ZBD1lPg-3D-3D" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Sila Realty Trust</a></b> in a $2.4 billion deal.<br><br><b>= Apollo Global Management</b>'s Apollo Funds agreed to acquire a minority st= ake in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfNJKB= 68jiBAEKei5pXfEagg-3D-3DoFgQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4= BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7= oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IK= XM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNX= Ws6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXXMHAKWXUhz0-2B= f-2FTd31C6ZOo7qkn0Qg9XZvqbBROhZ59WfVEw25Cc5IXYY9SqML0ERIMDvdoFZAua42k7Slrwu= dfGGKFKjf3OLwjQQmPRC7tKCf6nV4swT9cpKnn-2BQs-2FnXplLnSm34KSvSOzHTj3ZRfDDfz0H= xhEUsoSE-2BkOuC9aJehuMN6xjlsDD1-2FJ76a7iAdudKzG1F82z1TEcZm3dZoc-2FJZQkh1mjg= H3qQ3Y5-2FE-2FK1ehacqyJasZ-2FCLpd72Atb37k-2B05J6MGFSGpdI6Eo5w-3D-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">the Medical-Surgical busi= ness</a></b> of NYSE-listed <b><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22= xiFa4g93giqgAHqIf5ox-2BTNe-2FiCrqoAu6rF9u0g-3D-3D4OzW_Pr966knuaHmaw6c7pKvB-= 2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3= O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7= iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQ= DcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mx= GRD6BpqcSKXwlB2Kt7S2CxFwkoZNIcrt1Fv7EjNWKlBiyqFwxXTTq4pMdk8PSbCzud4nPisZmqr= cWKwBg0AFU-2BgFGofWVSlZ-2Bua67Vs5BFxh1Qz7ZUxAylYabF1XX00KHzIO2begjXjj6c3aQQ= vDQZdoBbNdL6oqqEL4lrp7ezIEwOBupBQw76B3IMpzCd3ik1GKLosL-2FiPkefk4jagVZVDSnxG= M9yHQG4AJCQLVNQlmwUfZIztuj8adPBHWceyx5nac0HzHBqfVZ6KXUDAklCZH8-2F1w7f-2FUA-= 3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">McKesson</a><= /b> in a $1.25 billion deal.<br><br><b>TA Associates</b> is in talks to tak= e over <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIf9vTw= Dz0HJoB9ebhx-2Bz0bzw-3D-3DN6sm_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH= R4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeI= l7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32= IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprm= NXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX5q6ttFJcz3K1= FL6U2IRX2zYPDLr7cFOfI0sj4w-2F1cQO4Q7MhCQyz8HYxT9jZxCPeNUYJvhCHQTz9ZZlsRDIU6= qJ4bJTqQblv7U-2BNMelNyRHrNt1yFjYka68WCgloyfaOZCQdugUNxL4drEtPSG1LVsEPMj-2By= npFiwAQhcLRP7HakREEJ8LcgKwWeuXxdrs-2BopykRYKL7S5VaI0xhGcrLcTNrIRvgvAZquEwDd= rWHeN1UVIg7o9Ca4QTBfr5F4Kdy1RzY9aMg-2BPt0XbCgzJK9cQ-3D-3D" style=3D"color: = #1D5080;" test=3D"" universal=3D"true">Advanced Medical Solutions</a></b>, = a UK-based wound-care products maker.<br><br><b>Grovecourt Capital</b> inve= sted in Dallas-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2B= PihgQefFSO8LlEaXnqjE71FfWOzRmNfzwA-3D-3DUSWS_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5= gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oI= QS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdr= w4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcS= KXFg9fY8JQyo4J649gQNAfIsH6DI9-2BmBI62M9yz7BrI9l5QmIX4JixB3-2BctX7Xa6t4l8I5G= GkZNNnCc1zc4Tl67eLMq6IOcn66xSdJNOw7i0X4Xq5IHVKRwvLDEfwgFWrWOZfWZdztizFworVC= 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cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8Lcmb12HW-2Fki8dC= dYVQb0kKQ-3D-3Dgtsh_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2F= XHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4A= EKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKv= Ci0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXD-2FOIOdnT4Bjf0vCHicyHh= eynJA-2Buk3mlwA48-2F0Rmg77qSEubEeUJNOAjtlUXjloIw3Cc7Ba2MhZFHmFvOtkbH3mTldze= FlDQ7F4X3Lj3VWgWas5J8pMVALDX7XQ6yzMBWz3cZ5rmJXdS23BCsoKMR-2BZa8l4gGKZxmnBUo= ba-2FJ0DW-2F2oGoSqBxoK6Cc1T5ulfDqWsk-2BzXw90nPIpSQ4skOlFg-2BTCylMSRe7oQJkRv= TjoKqoCSrhMPu15Pnr1eKSIM4wOTLXbLLG6XqmbB2vgzfQ-3D-3D" style=3D"color: #1D50= 80;" test=3D"" universal=3D"true">Revolut</a></b> CEO <b>Nik Storonsky</b> = says the London-based digital bank plans to go public in two years, Bloombe= rg reported.<br><br><b>Blackstone</b>-backed sandwich chain <b><a href=3D"h= ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp= SWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LJFzY6DHwCTnQTtToNWU3lg-3= D-3DdhO4_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5Wb= M02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2= orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-= 2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXU4KaG6Ho0CvmHd75MsjejpQQc43tEbBxpe= jV3aQuzdc5JMHYyzzrJrRjjpp0ZKsmcjG4NAzzvzUH4G1mLAZbV4V3c82-2FO40-2FavK1RHlKv= jAQDnwJvDOK2hXzkymxQVykT7HBxpYdMu3Y5vwVz3I5gXxcPtlSATqzGR4U9gbm-2B-2FfbCmXT= IzBYq0w4rsgeANDeL7LulimYKxeKNtoPcLUwv2yFbSoRhGje-2BtT4W1B0WQc9FoaeIcHLwAgyl= fuUMam-2FHWc-2FteAeTXzCbOQaTjbcFg-3D-3D" style=3D"color: #1D5080;" test=3D"= " universal=3D"true">Jersey Mike's Subs</a></b> confidentially submitted a = draft filing for an IPO.<br><br><b><a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW= EE7ZIouQ-2BPihgQefFSO8LjETakhtK27dgJ704mMgBPw-3D-3Dl1X0_Pr966knuaHmaw6c7pKv= B-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTp= j3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907= Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmL= nQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8= mxGRD6BpqcSKXXcRQxoCMP33NvgWF5z2VwljwE-2B4azL8WC5G1n3zQGZo1aBlNXWWbxb6-2FF9= QqkvkcOkc4RY7VQe2lToPjfNht-2FSd5Ge-2FUcgOcy2RmA-2Fyhyh6lDwvQmivF4VdDGZ65qx-= 2B-2BjJo7a5-2FmBjhgYI6sBzZmLaA1K2X1aCyYNsdHhepuyc4Ag4BOTC8I796HbyMftnJthrTf= oaU1v87pOv0obalwAYD-2Fru5HmzxmaaaXyiEQmL8nl3dQZ1e8Mk5oj5AVtlH9kqWDgfYZXAYON= JKObm9-2BJg-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">G= MR Solutions</a></b>, an emergency medical services provider backed by <b>K= KR</b>, submitted its IPO filing.<br><br> Boston-based biotech <b><a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LREbbK3iEEJA1BlE4R9vK3Q-3D-3DQExL= _Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45V= IvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1Trm= FgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M= 51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgF= T7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXfIZdJaiPaWfow-2B2fLxYJJtJ-2Bz-2Fi6x4CNhzSU= 0yARU4lq3eW3aRdeYlxT986rp3dFngRPYG3j7pKXNNueGaW6iJArVp1-2F0bWGiNyfA3xY5TUVz= gqQvbwv3p71WBrL8zupBZBdk74c6-2FY2NTpohKOcvaQJvrzf86zBTviVpZb1HgzigW5JKdxiRh= YGpR8jSuhXc3WujM5Kkt7WtUNqosTZYeJfB86j4bANU9H6i6sfuW8m4jXMR-2F-2BXIc53s-2BP= z4QDGaycOa3B8IfED8KfO9Pd7pQ-3D-3D" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Odyssey Therapeutics</a></b>, which is backed by <b>SR One C= apital Management</b>, filed for an IPO.<br><br> Finland-based defense tech companies <b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LLb6lCxyBc9PPN-2F= x5IbR3dg-3D-3DrR8D_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= cVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FX= HgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AE= KV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvC= i0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKX7dL6K7nVEZKRSrgSX8ssnsGG= c251ApTeQdyF4BleVcpY-2BgBC8-2FePyrZzMYwYPiVUsbWL4CdD-2BSgUKtQPWt-2FVdrmKkyy= 5L8t6Jm7vYLfK9zkIsBu6l5gBrQdPI-2BI5R0cLzWezQuss6tPAYt-2B-2FRQIPbz1nW8pzfwrY= XFH6JhuTm3IFZk-2FBuyh-2BAsOtTDyggVYUMe5WTuCcb8FMd3wQQWewBZLFAG1Qhp-2B0qnVha= rZIJhLMYbXjbouEw-2FpylmaI5x9jfXEd3yxfhmRodti-2FMYTxMw-3D-3D" style=3D"color= : #1D5080;" test=3D"" universal=3D"true">Savox Communications</a></b> and <= b>Nvidia</b>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BP= ihgQefFSO8LheiNiv2xBF8qThrHq65BTA-3D-3DI5Qp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U= wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5g= LbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQ= S8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw= 4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSK= XYAzONfl5RYswKHXq4CwlgL1JsI8KWf2X5B5Uiom7mr9KL13yjM5nFd7sLegPc4dNClYs3sNEYK= KVY8YimqiHurCCqA7xaRu0fANLTjbUsZ-2B22i3yuVMVqS93jfYlfRc59mGUjVILuj9stjXyp2x= 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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-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LkVuoaL4= G2qq3Od-2FOTvPa4A-3D-3DDjSl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHXyr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7o= C0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q07mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKX= M1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFeWDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXW= s6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVkUgSFeI8mxGRD6BpqcSKXjS8AkgcQlaAikFq= geahEVeVJxfjo3V1wolkfRmya6sTJ4-2FDImVKarEVd7725RKTKfL-2FlxuNRJ89ToOF7NnXCAH= qjRUitQDftdl4PUMcgKvzdus6VsjvPRB-2BbVjokncx2DrQNfkI4-2BZu3ULgnZIczJoE6lKKa6= HvP3MIUleOxLvqEYHIq6qQF3oCtUvzm02MZTwUfCAPYAPoXdR4TvQfBEas-2BHC70kzZjqCj9SQ= txMCx0C3TQpLu-2FGtvX92d-2Flo7SDjMGsZUAYR2uChWa9C4dSg-3D-3D" universal=3D"tr= ue"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/7= 3864.png" style=3D"border: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <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 sw= irling uncertainty surrounding the future of the software business model ac= tively threatens its reign as PE=E2=80=99s go-to investment of the past dec= ade. The implications of this shift are profound.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzXGs2V8qvbaAOwxz63cedqzMC-2FA8JDGNFivowgtbfFWFw-3D-3Dfc3h_Pr966knuaHma= w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRv6G45VIvLn7kJ10YnHX= yr6umTpj3O03TfNAU5gLbKXfBk6aJzeIl7oC0EP3-2FXHgAWV8z5WbM02f1TrmFgdKHbiSbb3Q0= 7mbC907Q7iVb2pN4oIQS8tLC8kY7xg32IKXM1LRxy4AEKV-2BvGJI2orlhm86M51JC6uLoyyFFe= WDJRxmLnQDcVhsdDdrw4V3V-2BRXFprmNXWs6ObNcKvCi0xeddoPO-2BITOtgFT7r6dHX5QUkVk= UgSFeI8mxGRD6BpqcSKXl83t0BdRMejQI5BCAuh-2BjA-2BrEFIYB16oQRNKNB33HYh0R11Zncs= EFBFoJTxShaGGv2I7pP-2BMuaNjyOdRRPLXKwI3gS4umypG7WAjnbn1MEkV1lJdztZrlBZ8JkhR= zblIKd1ZcohkzYksVcihn32ctHg212Kqkle8DNzpOf5ySCZHY4yplPBDqyHHCiLeCOS2htsd3Ll= sjKwk-2FqFZS1gLTVw7tObDICwSfqgPM0ktf4MpVbYndf8-2FtOCNIk59dahKG6SM7PptJYFHIv= CwBAKJ2Q-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Q1 2= 026 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> </tbody> </table></td>=20 <td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r= ight" style=3D"padding-left: 20px;"> <table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td> <table lang=3D"x-sidebar-block" width=3D"140" cellpadding= =3D"0" cellspacing=3D"0" border=3D"0"> <tbody> <tr> <td align=3D"right"> <table class=3D"desktop-only" cellspacing=3D"0" cellp= adding=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding: 0;"></td> </tr> <tr> <td style=3D"padding: 0; height: 20px; line-height= : 20px;"> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> =20 <tr> <td> <table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad= ding=3D"0" border=3D"0" style=3D"min-width: 100%;"> <tbody> <tr> <td width=3D"460" class=3D"container"> <table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" bor= der=3D"0" style=3D"min-width: 100%; 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