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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 ---- ---------------------- -------------------------------------------------- 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. [159.183.175.69 listed in bl.score.senderscore.com] 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. 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} body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; 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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-2BaqM7ONnvsnswouzXPyaBb3SJVNVErcUHIzJctuFUcm6hBludEpB7ri0dyOA-3D-3D0m= iv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKh= TFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFD= e2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2Bz= G0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3P= UrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu4IQld4i-2FBmQ-2FV-2B5L-2FRCVCwh4lG= deCVCYtGZvIGS2EU1RP9suuXTp9s5xxlkYqbHtxCeh7P92n1-2B-2BNwT0rPhGAS4CLTQcXEfYW= REjNbHfuo-2BdgZgXQ2axo-2F1GjIC-2FDXAgjGJCP6uL96hgWRNzSE-2Fq9s4q1pVG7iIuDrJ2= -2FcUgwt-2Fn64-2BiOcfdg8vcfo3pwSmx1llDsDAGmy7fqq1kvXI8gg69i7MUbjy2uPRdJzpSP= ij9CF8YKGxwMEJDKkfTurh0" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Read how 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= swouzXPyaBb3SJVNVErcUHIzJct6NJeljjLnSHskF6YJ8B4VQ-3D-3DR5ba_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGb= T156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjU= WJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu29= 6UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQ= hXja6Ir1AZ-2FfSP3MRgmquuNmzHzPwysV3yLws8x9KlSQWUOqkxJun8n8h13I8rSYxqj-2FSrH= 40UL6r5cfwnVIIUEtgK8pl5UXVdTTNhMcR2LD5j-2BbNqfrbh3LL-2FKmqgPHsTU6YLNbG68DYi= -2B2mNhfDAHzNHn9P623AV5Dk9GS8XMrCXC6zO3UePw6vzTK7lfk-2BhnQ-2Bn277m4SrAkrXcN= P9Qyb3d53u7s2-2FNcs25x-2B29CK1zBQaM4aLSEk0tXeqxDRxSOb6vAL38cjWUekxspxD" sty= le=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-2BaqM7ONnvsnswouzXPyaBb3SJVNVErcUHIzJctmuV5IxS-2FCVlMd-2FyNhG4uS= g-3D-3DZXs1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m= 8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsU= pHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTR= X7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09V= OzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquPbKH7GwZGRMDMsHH5q99-2FPy= Qsan-2BlI7sz0d3RZVgJv9AAKfY6m8onAyUgyd1UJJBb2FndMvqDmuQX14JEJuZ21GyCQ8V5jfV= XwIBGeI616wZ3xDFmHkTY1PkIz4gPFqifceN5WQ23Jy9XaMPfsf16igDLyhfArv5kXwyTxl7iHJ= pakLwyBEcP2HZ3EwVhc3w8j7tQG1O8uoM-2FWDzrVHK-2FlS9f5KL-2B-2F3RWaR9vIk4ynp4K3= xlHGYR3CfOPU5x-2BcQ9" 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 cl= oud 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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtp0VpSMBvg= 7Ub1Y9KOu4Pdg-3D-3D_x6M_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk= 4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg= 87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG= 1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquM0FJaSC3Q4hUa= -2BNWqUh20kRwNEYiYudy2tm0a1Zrl7FF5qFjP0xMu-2BqG71nh5Ah8zvpcRsQ4O6QMwWSsCOIY= DczqRV-2Bk6ogiWv4o-2FilNnFatdljA6hfG-2BK57UVADKvSyBLcro1-2F7-2BVW-2FNw9Qgqf= VwRw8NFF4-2BsDdwp-2F-2FhRuxXIjU-2BLZQ3qY7zmSPQYcCdoYIPI7sYyQven9upHEi0TAXwj= ks5aVAySc7h4RN3ZS3hlZi8PihbdxqAYEGNn665f6m" 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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtp0VpSMBvg7Ub1Y9KOu4Pdg-3D-3Dd= w3B_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lK= hTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLF= De2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2B= zG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3= PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu5XLg4V-2BJ4W26CEIJV1yBOehb8B7bUVq= LfsYoxRoAIRIlYqxi3KL6-2FlXOA4t79q6swx8hFBHKutymoREIeHnOrnkOnXQQuRsMY-2FF5s-= 2F-2BdQK9gYSob8ed-2BAWdaGe51Wvzjod3jr1Se5xlEDQ2AZ7lwYixJKk-2Fh7X-2Bg0gBi7nG= cbo2iXcGu-2BpAWnmhr8k9VG-2BrC8zylRxiek0lgcREPFmhgQM6OhdiTDLpvOw4NC4wKTVuZNN= n5Ujs8wEzHCRFvTIjt" style=3D"font-family: Roboto, Arial, sans-serif; font-s= ize: 18px; text-decoration: none; color: black; padding-left: 3px" target= =3D"_blank" universal=3D"true">Download the expert analysis<img height=3D"2= 4" 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= tiop4wdtb1H0RW0ZkcFZYwNW-2Fmw-2Bhw-3D-3DhfTq_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwa= rHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63= seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrM= MwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA= -2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfS= P3MRgmqurNv6pNbx48EVM2Pyh3iZUo-2FnvjTpfpqKqsYn4V-2Fni8GSHaPbYGCYNzVr8n3d7Gd= PuGcLvn13bcg73yfPaVWrHsERcn42gPc2cift7AoHnb-2BGYLHMb-2BDWFAjnICJqSUGePyBoFV= d9ZGqUB2ZyJhK0-2FUKBnLQiMmADVShh2Avk7H-2Bl7jk7Q7Jxs6wPiRukWUqL27gu7Trw9mGfL= G6XnqH6Kage7YkRDSpVbapfwJNoqOj9QkmKcL4X78NDvI67I2V2" style=3D"color: #1D508= 0;" test=3D"" universal=3D"true">Q2 2025 Global Fund Performance Report (wi= th preliminary 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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdthUeSpKYmCB69-2F= QnniqxMuw-3D-3DGrUt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDa= TduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij= 2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b22= 5dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquiDooi1Lz6YVT-2BlY= VnES196fLHzs3Z6nlgeVTCN2YMzK4sGpikOZX78iUVti6zq1iCSp9fj-2BRg5bOvq7Wiwe5VQlt= HCP5w2cJoX5hZkHdRQ26vS0lLApfAk7zOCkZE-2B-2FxAPb1qHlUabh38F8vXdyh-2F3PrNOvEW= vND-2B8HgGDADG1IvMqXm4js2RmZ-2BqD-2FMHu52La-2FiW8ihLWF8WAxE1Pzv3o8gCnsiuClA= -2BXzWJBycafWnJ6EWQptYExnw62ZiXzqv"> <img src=3D"https://img.pitchbook.com= /news/73655.jpg" align=3D"center" alt=3D"" style=3D"border: none; width: 10= 0%; 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= hUeSpKYmCB69-2FQnniqxMuw-3D-3DqWGG_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfm= zy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7= pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LL= sqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3N= dtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquIi= -2B1CkgwJ7c13pEITjYUV8-2Fi9ZzZ1dZ4wH992joHe-2BEIDj1phwixlS3G7wGINYnMHytda5C= dv9p950i6CjoMjx3JCL4RVDd7XnOhX3IzrpEPUz3RFeOTI-2FbZ7mS6LvK2qvyzOl01NCXAnGSb= iMXUIGNE3J56iZZsW-2BpAVWH9ZhjcGuOCQNd741rjlmSpn2CSs5r8cFZDVeeL4KFszZ1OVtITt= xMsL-2BgOkG3j8zUmh3yPvUIHdHIT9egUwuXYijeN">Register today</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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtU0G-2BbgdVXg3fy= JxC1KYf4g-3D-3Dzhim_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDa= TduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij= 2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b22= 5dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquaOhN8VtxjEbI6VsED= V266Uovn8k8MmZqnj5O21BgaG-2FdAW-2F2j4x2WZI57VIFrQTbHHcCdydMF-2FdO6RVdY8d-2F= R4CZeN1v0YrTxxav13i2PhnonDEzM2qt0P32cRa8W81r4gtCnjJ9tPEEDZrmAzjFtfMoq6KY8eK= NdWQfB-2F5-2FNiny8xe-2FPvEGS8gJnt180-2FrnpEkVW-2FhlmiNVRbWpE4VTHUX8T715wlPV= 6NGnFCjfVfwJfsGuY4UpsisBGt8vzMbN" style=3D"color: #1D5080;" test=3D"" unive= rsal=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-= 2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtHO-2F-2BccPZM1ec8jQ8IQnXGQ-3D-3DG2u2= _I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTF= yypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2= wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0= OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUr= IIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu-2BeA-2FlMwPUDYB-2BuHCaPIZN1KVEC1CvY= ncmkutwM-2BwhpZfhfWuCA0-2BlboXifUpbDBhgWhJzOMJkOoq1Ue59IufxsSyEkt7Z2GcPEB9x= 4It-2BAiobWuZP-2BsvFU51VqNdg2wk-2Fo49u9bgApONKVTSr9NAGltukuNrGea2vihT3b-2BN= DcpANfZdFosEvfut5Wq66yK4W5N-2FX2xjm8x-2BWb4q5WU8J0vi7KF1-2FHstR-2BH7giHame-= 2B9jPYO24EiYVbQQdKTLrrE" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue"><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= uzXiwPUJ7xglb2n3tiop4wdtOzG2sxx0vtcgt-2FxHAsR8wA-3D-3D_E8s_I3w5d9c01gkD8gLz= FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT= 156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUW= Jmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296= UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQh= Xja6Ir1AZ-2FfSP3MRgmqur4P6ETurMFDnDRWogFjnc0Z-2FwM-2F-2BVvzDPt6jxdpPJ-2FhIH= pp1GunhuQzYqD1HQ3hZbz7vGHCzMWQn7NrXtLfVCDPG-2FIEs20KIrOvMk-2B2ZVYuXORJHDr4b= rYZjGsDQLIUSN5W3YuS6AZcCaL3kmnl4ZP-2B-2FQSGhw9QV-2FQMD2qeLwPTeMl-2F-2B7XURC= lM9HSmq958xOsCtUnfXXhecT-2B56-2BIkwh-2BA3LZ3F9UTuxUsXFkroqLbW4hVtVDVwOMHbyH= tQRW2P" 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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdtZiphDUeszGka= 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</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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdt1QzvIqwKH= 4Cr4Bs1WD1VnA-3D-3DJXfF_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= 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</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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdt1QzvIqwKH4Cr4Bs1WD1VnA-3D-3DQ= xbh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lK= hTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLF= De2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2B= zG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3= PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquNhCyytauiq-2BI-2FOlVJ3PfMkroNE3gI= XzsKVv-2BQnil2i7Z8xbbloMRaOhnaTy5CCPA6i2FqIFBxhzLFH8FOJoSGPfqrX0oJd3fKK4RAJ= 8eCLpLbI1SNipxIYln6Yjz4z6853GAYvtIPfE6wtSSvBLgrxa1uVVtI4RNy6INdLGDiKMHlH-2F= bFTDNDgPO9DQcJTcb4bdVPrKi8Rs7QhVCjArh4LRCWsNfrlMEKIqI1D3ROfyNEkRl93V19r3PNv= jC38At" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; t= ext-decoration: none; color: black; padding-left: 3px" target=3D"_blank" un= iversal=3D"true">Read more<img height=3D"24" src=3D"https://fonts.pitchbook= .com/newsletter/arrow-right.png" style=3D"vertical-align: middle; margin-le= ft: 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= tiop4wdt2XBnIm314rDs9CFz9o5E-2FA-3D-3DaPv4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63se= LzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMw= ABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2= F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3= MRgmqucgJLL-2BQyhsaVteTIChhoSyGcEoQNeB-2FWWkJQjfcd2DydGYYBhHRWiwzUlXEyVszSm= FyVAiTcUksj4uWzzYTgxWhfxI9OKgWnVXxVuVK1RVzlRatN92dRj1s0XsM8EcXja7PI9t9uI8B-= 2FA9W2cqo8UUOztCLNzivRv9uh0bweU4SIU64OMPUcbkVjQZ4OFtPS4GrJ1MrqSZoe9ggDcFxEO= J7jrI-2FtZnAWDNMbiQ4r4HsfCw-2F7qFEvjBmSw1tzItat" 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-2BaqM7ONnvsnswouzXiwPUJ7xglb2n3tiop4wdt8Xoe4CVV= QEPiC1zfwC1KOg-3D-3DOMhP_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ= bcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKoj= k4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2F= g87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8S= G1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquW3VPb0V0J6-2= FyMgsI68aMb-2FX-2FlYuCuAJ2RwtTHSxao3AdF40IEoXFGppv1aQ4KBruvpWlZ845sgFMwzEaS= zyKGkjpIx1WqiQvoY2edloTpUGWlgHWJFihqw2Ozeov9y9RAu4rPmYPbH7aEsRW-2FL78d98adQ= pSlx2FnOnXS-2BtTgea629-2Ftabrf0hgGNjuq-2BCqR97e-2FT0NRGz64vaoax5ZSxheUNnO-2= BHJ2bDc1veShom1uEvXd43dDhPq-2FwIcnpievF" style=3D"color: #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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oIzfjXgyCUZ-2FFEFA8= zETPSg-3D-3DFIPJ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTdu= hgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZ= dneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dA= YP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquylXeJYFaeM5pLZm-2BCP= rH6eWnrz2SsPttczcJWC8i6smGRh9k-2Blusbe2qIMrbdRx9YbZig9Q-2FekKin6thOU5sDCZKy= UON9VTJ2LrxRnwFvkDNh1bgspzNcW6kRePqiCavgr5KDUC-2FpqRUzfJAt1BduBODZQoFLQgRoP= mf3xrnmuGo-2FJ9xXS6dVU2FrGdUv-2Bd-2F7liiGUDYmdcJq8bUx5mdASz6dpjTNH9SzRVdYkH= 3eC2kXkDNGa-2BIQn8hVIZWndz7" 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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oXH2TSN9-2FHjNpZBFvMtXDzg-3D-3DzL= zM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKh= TFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFD= e2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2Bz= G0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3P= UrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquCITtszwboJ95gWnbxy860V7sZbPlBFJX5j= eU3t5yOjSZ-2Fs-2B2wfIIaKfhy28QpF1oVJ4-2FxVvdrcZW3GMoKowonE5ZxtmNj37Pgy1dwve= uEvfF2fczpbcVo-2BVXy2y3eYN01s9rC-2FMCrvj7X3zQveR2Fferi8Tw5AUfqE2JOhrotKULGx= g7kryZj-2Fn6XJLsAQqB0RBSlgBdIGQ1wpUp7QlPn8DoXUaH5TuDWf2kyza0qnl1n-2FlqPzSWU= NIv-2BMKSdLzk" style=3D"color: #1D5080;" test=3D"">The 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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oH98WAPSDKPgP-2BdVTT8aBFQ-3D-3Dc= DEQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lK= hTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLF= De2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2B= zG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3= PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu8dHX0Q4gB0k88j6aTtyebqxpG5TPp1WsM= 73ZhBhKjh-2FPdKTt9RP9QQk2KITrql7I947irR5ai75jVPA9LwGoRzUDFsm5LUgj-2B5EsoFze= 16tp9DSl3aK-2FLztmO6wq-2Fk8Qdo7aC69iI8y5fP1LMGkLmfhesYY2z34-2FHh6WmWBQnatjX= pcqfWzUSxYvuThDd-2Fag-2BC2QIydxXcjnVUxsOfq-2BNeuANB1F0kqMQ7QObbs92HgTbusqux= 2cKgOM4wIjJfbj" 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_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= swouzXTl8IifUxAdd5JDeeNdc4o5y6pH8M23EQl7S6f5rwIvg-3D-3DhI8A_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGb= T156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjU= WJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu29= 6UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQ= hXja6Ir1AZ-2FfSP3MRgmqumjYvBvel0NOfCIzfjB4orwz-2BN3tMbSUs1HxwwsNZdIMJV-2Fha= cOjwOPXDhc7AoPF1bhOSFfixGZ-2BQH2t3PWlzqr9kk9Trx9PYTNkT8uSPnqsaXbl6EnyVJTfEK= sLakTQLt6gzZyy1-2BD5FWGM1tktEMvpZbidTu45tJZezMD0cIVTg5tA7EBo5fRrR07B9tP8tvE= mAzFAa2vt8Heli6q4b9-2BzPL8-2BEb5Dk8UHMqyuvZaGaWFDIYzvqzuC-2BzCgRLo5u" 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= swouzXTl8IifUxAdd5JDeeNdc4oENnwu0n1cNbLbQK7Wlq2-2Fg-3D-3DciRE_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8A= GbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKV= jUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu= 296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgH= WQhXja6Ir1AZ-2FfSP3MRgmquE3R5Fx-2Fv4i4ho-2BdJUaI85IGUXwi5zkutt8rFGktkEp7a7u= iMk9GwwWI41O6qAZzYtk7XhLEXtsIeq4HHL4NgZNWPBMMWlVLAT5osSIuLGLbR56Edpcg8yxFs-= 2FodVysBzKjZpe-2FLOlguFxow8KIt6VoxkOsioK-2BQuGo-2FI0VxlaE8SvEGPUTxhdwdK90ZX= YTADAtyqS9dBoP65CxU6kFsbRI-2BjCRiSEM4S13TQbI-2BMjjT-2Fr0k05qsbSiF45xkJ5FTj"= 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= swouzXTl8IifUxAdd5JDeeNdc4ozQqecTE1kWixhoJmjXm9NQ-3D-3D1-Yb_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGb= T156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjU= WJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu29= 6UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQ= hXja6Ir1AZ-2FfSP3MRgmquqnnb-2FdG5i-2Bv3Li-2FPZi3p7ZpIEK7tS7q882Vva0-2FV32vV= QU6ll0KWmzJXXvV2Of7cg4LT6LI0TZUnm-2Bztzj3fTbZSWcIZBi-2FTCMhDOjou3dU9Q4jBI7e= aYoTlvq3PghaO0KvESoGWV8y6KUzmLYyJgLuYiBM9EmTmheA7PMGAl7iiYE8u23SUN8-2B67NRX= kFv8D8WO7d-2F21hcU3vO0x3459AYTGVtYyjKtPyfoMOlVEA7CpoS6UK1jmxZXn-2BRfT05K" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4onwrXhG= Huxaodq2uWeb42EQ-3D-3DcIeh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXK= ojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y= 2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC= 8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquC6pCSNKlwX= KEttv-2Fcg3AhWLzyTOkZhYXIW6Az70lSQAfbkZs32v9t1Sja5C6Ckt-2BvclotVs6plY6BvwZM= YtCv2V3nXxfpdmNYcpnOQcKe6bA-2FJg1N5GAd6l-2BAV4A63BLbURoQdtURXhIbiZoYUZIWlY1= 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</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 class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4o4eYumvaPuBNTC4K8b-2BRbTw-3D-3Dx= gl3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lK= hTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLF= De2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2B= zG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3= PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquiZBMPG7sjLr0IrF9mL8mJP0Px-2BDO3Oa= 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</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-2BaqM7ONnvsnswouzXTl8IifUxAdd5JDeeNdc4oRYEH7s4nZpSpKQgbs= 49yMQ-3D-3DBTaT_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduh= gTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZd= neTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAY= P09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquROK5ByfE3WdfBkzhHE4Sd= VmSjeIDK4JfvJ9IGylm0jwpCdH5S8d8EUgH3B-2BXX2DrXuDsrS-2Fu5eaJFzpxafMMD81kpef1= dfz7-2Bj7QWgQr6CqY2B4SReiDsxfXPlmIu7gQKqXCqWelunniM5WQcUqUowv5AyuxgGFEo3K9P= iCSre9KeGKr7cyz9zqye8Fa3OI7pJYoBHRxIDC2dDgwhYz9GArqoJGqtpm3XI2YkNhUyYHQBXVx= eblWKDbQVmkMe1dv" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Cu= rsor</a></b>, an AI coding startup, is raising a $2 billion round from inve= stors including <b>Andreessen Horowitz</b> and <b>Thrive</b> at a $50 billi= on valuation, according to reports.<br><br><b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzWxb22xiFa4g93giqgAHqIf5HnxSXgLXfTzQC-2FCN8xpxw-3D-3Dh9cR_I3w5d9c0= 1gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PX= n5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw4= 8MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvo= IDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAP= f1rgHWQhXja6Ir1AZ-2FfSP3MRgmquRtvM5j7S9Akq6SqBXX9vIy5ySs8OGsRuDVxlhhV3MpSin= L2BqoOyJWV-2FBM8JIwG0Tz8ulBGcYoItItM-2B0Fzbmrg8fGsjfB5io7ZW2JQE0u-2FHuQQj05= t2VGRsdwj-2BjrGma4r-2FZF8cJ-2FjMqRPYhHdIq1-2F6QQ0tOCquycI4IxwW-2BaqKde1LGBh= CBEqfNQ755S1i1WAv7P6A6JJKtKjtvmEb9bsnPkOH1-2BNK8lgp-2BhUrTP9wgJKxmfTpjDNx4L= bBV5FT" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Recursive Su= perintelligence</a></b>, the developer of a self-teaching AI system, secure= d at least $500 million in a round led by <b>GV</b> at a $4 billion valuati= on, the Financial Times reported.<br><br> Prediction market platform operator <b><a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIf4X4gTOps1hYTtDsyT-2= FMwQQ-3D-3D3Lyy_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduh= gTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZd= neTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAY= P09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquIxjOKEhx6CBYeNAdGoDmq= Is8x1EqzSytGwLHpO1ckhGBrsFdMScblcyvt4jDxRTU0kJP9dCJM2HS3AaH9DNclstx5Wto09Ol= iW4rWEOsa92yJO-2FoPpD6HIK0CdURK874Sxtkyo3VZbLvofaEoJ9M20p6s0SUYBjqSlRBAUzKg= 4BPB-2Bem5gzSbxsZoXzKPlh1E3V1tqwmlK3YmokLh-2BHJ85bHVMWNcesSwJcm1-2FUedMAxIk= TyL5PRSWgTiEfJ-2FFMp" style=3D"color: #1D5080;" test=3D"" universal=3D"true= ">Polymarket</a></b> is in talks to raise $400 million at a $15 billion val= uation, The Information reported.<br><br> UK-based <b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWxb22xiFa4g93giqgAHqIf4J1TFIG5wfkvUoa6Sv3tug-3D-3DfY7z_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8A= GbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKV= jUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu= 296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgH= WQhXja6Ir1AZ-2FfSP3MRgmqudcTDe-2FbgDEogmwt3LyN9KNfIna4IAzuKXxuYR9ov6GnX8VVQ= vNdmxyf7e-2F7uJIIQd3g3bv7xvDaYYIifyuR3LKK9n-2Fspz-2BoIjGelwF58zBV8bqd0qFKf3= cETADcR4ZAbaMiptP-2BCsz6neEdRnizY2hwmGMYedT-2FX74nkwhoJBki-2FusYMxERexVkflM= UmCPsDJkOVLzz8HP3FyKo1181XHR0sR-2FgDmiVsObmvHz-2BGUoSYoQ9r4NVc0RNfOKgk59rR"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">CuspAI</a></b>, whi= ch develops AI for materials discovery, is in talks to secure a $200 millio= n round at a valuation over $2 billion, Bloomberg reported.<br><br> Netherlands-based chip startup <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfqxrO-2Bamwy0gvqiHZYbkXHw= -3D-3DEgwu_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8= PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUp= HMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX= 7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VO= zPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquk4XgWurtCjCD0xvzZm3nY5V-2B= -2Fa-2BhIbPIEfosIKzDPVhcCucI-2Ft05-2FVx7VQ0OV8ia0sTcpMLqOlZ8kYsvjYbBXZ9T5Ni= 1oxE-2FYIq1Qnkff-2BSoXVZI5VrB5MEgv11f9WIiwwvYI0zq-2FRvU126Lm8Zv30sKbe9n-2B6= LcRsoLT314Y0py6-2B1UFOSBeO2wnvX4VIE4MuWoi0p2yec7AEXEe63wc6EX-2BxD-2B0UjGMrZ= WS-2FDUm3-2BCJRvy3-2BXXS1JRCPdbMFKy" style=3D"color: #1D5080;" test=3D"" un= iversal=3D"true">Euclyd</a></b> is in talks to raise a =E2=82=AC100 million= round, CNBC reported.<br><br><b><a href=3D"https://url6380.news.pitchbook.= com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb= 22xiFa4g93giqgAHqIfEkySJ9UF7C4Q-2FZu1UBii6A-3D-3DD1ig_I3w5d9c01gkD8gLzFEofZ= R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lO= OP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2p= jblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12f= bV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6I= r1AZ-2FfSP3MRgmquff5nEViqOKKHz-2BzlWGuusgCSvLNzqh-2FA9qCTc89leBWFtu8rr94Yuz= O5rFYqEHo5RRuBaWDBGonvfxC1LVRFfL92bP2vfnyrffGY-2FLt4gjQYAARzdMSfQ1SapNRwNql= AXc33h1vUYHVM2F6OSB08Uoh2XdyHuTtzaSFub8T6tJiKfPFXX-2Fd9qUlScBcUnKhlqLw44WQ7= pO-2B1-2BEHpQFvga6-2F2ki-2FV0vj57c-2BwdyoMpSJy-2FoTIqNiZJ5Hj-2BF1UEXmB" sty= le=3D"color: #1D5080;" test=3D"" universal=3D"true">Rivan</a></b>, a London= -based synthetic fuel producer, received =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-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfJwxpz= YRn-2FEVPfSXkeEaY9Q-3D-3DfEA1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5c= gXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2= F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMA= JKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquWOxk1Lf= R2SyZfil7PkAUZytlj637B2ss7n8VBJ-2Ba7eFyipaP1tHMUSCpSUwU1bWwiyOIKIa4OoT5Qxk-= 2B87nbfChNF6BN5Ja5SWrEFUE0UCijmwiVaC-2FIEfDKXFpO1hplbjieHi7BUvmx4UW3v9i-2Fn= zRwcOrBc2PbsweuiRXmJ938PS71acwWZR1b4y7KH8biuldEX7RFq2kAYmu2aGsecTSEYTM8QdSZ= vY96VO8ZRv1UUNoFM-2F8c2-2BGFASS7bqMd" style=3D"color: #1D5080;" test=3D"" u= niversal=3D"true">Planetary</a></b> secured 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= aqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfl69t9IsUHpDFcGWP6TlZmg-3D-3DAwFn_I3w5d= 9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo= 4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8J= jw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LX= svoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4= iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu82GkAe4qbloJz3n1hDrjbdzvJelpbZPjivQcp4rE2B= LM-2BWvMC76WkCT1BHKvK-2Fnes-2BMb-2B2doKkHxBoiC62JhHrzNdtcUZOJEImIwLvyQXHMQi= Ozr8ZPoLH65sb0o3xi1wTYtiat37SBs73ONEZlfTBUms6WBiiZxBrT40EU3BMZ517qVSGHzQddy= f6suuw8Dls9BBDUvLshNmG5IHu2w9BRViqJ8oXrUQY45K6DRX3UhP5CtIZj5ys8yo6lDCB8T" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">Sila Realty Trust</a>= </b> in a $2.4 billion deal.<br><br><b>Apollo Global Management</b>'s Apoll= o Funds agreed to acquire a minority stake in <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzWxb22xiFa4g93giqgAHqIfVdSB1bvsYc353-2F2m5-2BVzlA-3D-3Deohu_I3w= 5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyyps= uo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA= 8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4= LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIko= v4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquEFUV6wewLi-2BlDFOUOBaVOzsZl7mggMgbOIoXo-= 2FnfB8S6xLZWmRUe3366N5RQUNbBxcKTI-2BdHf5PAY0irs42YoRiDP4bFXQ-2BKnz-2F6PiEqr= q4s-2FAPsl7cFm8fnLryZQllM6O51T7aFsRBSEVlTMrzOvKB6Ex8NyI1frFu7fM2swoqjvMH9eC= cwq3NvXArH4Jm4SoxaPoc-2BCaGjmCCo9kzfT39xv4Ew-2FJnwuzKV9G-2BUXO2G83NpPsYvAw-= 2FTJ5FosrLf" style=3D"color: #1D5080;" test=3D"" universal=3D"true">the Med= ical-Surgical business</a></b> of NYSE-listed <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzWxb22xiFa4g93giqgAHqIfM0VPl-2BbMB4ryjSAbxQ-2BVsw-3D-3DIpxZ_I3w= 5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyyps= uo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA= 8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4= LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIko= v4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquOqVkWKg4mOCMPG3Cy2ZISPjSP5TfM3iNfOyDpI2p= a8P5-2Fz5-2BQizBe-2B38APmR5mngK52oXuSf2mrDgo3-2Fy3cEkQMKUCv5sDplu32roMQL5NA= 4HP3ETRK7uEcC-2FvOdowz9FNz5sBsna1SZAgbgOziHBXAXJhkqYT5QNyE2q898pJReumvZex2X= ZZzIfRf5gOfayOXdqxih5LYQ4JE34WnB0tgU35be94kCEL3JKtT1NwTxB0LeX4RytX4Dy2g2rei= 0" 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 take ov= er <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWxb22xiFa4g93giqgAHqIfhFRBpfZo= nRJ-2B2QrErt48zQ-3D-3D75FQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXK= ojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y= 2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC= 8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquOJPjZI3BH8= CGn9-2FHNnFRC-2B2vPh0QirQMA3h-2FpcFm66nSOYXkvo-2B2bY-2FRc1BuGQ0JBclEm1oWlQZ= 06kw60D-2BMLsYky195SI6XqiByMSyrhSb6KVX1HmOZBWeJHR-2FRO-2FLpAeWn4Mj9fH9Iwg2Z= xpKerxo1wBQvsKPZeqotc8pkS1OSfyiXnJ84zCVB1k-2FMx9K7rWhwSdZuYcFJ2Y3XuBkmMXgao= Jx4KkvDtQfB-2FY6o5-2FZKDbNsA59uP02wd-2FLG3gVw" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">Advanced Medical Solutions</a></b>, a UK-based w= ound-care products maker.<br><br><b>Grovecourt Capital</b> invested in Dall= as-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8= Lr9WhCa7l0NwPhS-2FRuA4SLA-3D-3Dfh0r_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ= 7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2L= LsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3= NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu-= 2FSKhchTl2s8Ii1LPJOGu-2FU6TokA5bZl-2FA5l31s0SSAW3NczzUre39eNuRtDzVa-2FamRVx= QJqF2-2FJ1QERZXQYNZ8MeeSHttPBBydLTn6Qd81-2BVajtXO3Ou6AjC-2FhKN9gTmXeywCZU-2= BgoT7ztm9bcoo3x-2BcAkcJWWCFyQxUnoatWW-2F-2B-2BTKJZV-2BlWEBmgyjr5-2B4dFBWp3h= bfO-2BuZ6klQdnR1LFI1gXWURPOMLmrnRlM8kzaK-2F2uctf3701Ok-2F27Sd88R" style=3D"= color: #1D5080;" test=3D"" universal=3D"true">Guide Architecture</a></b>, w= hich plans and designs healthcare facilities.<br><br><b>IK Partners</b> agr= eed to invest in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihg= QefFSO8LTkj3Fjk4lkLhxO98Gnm53w-3D-3DCPCr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLz= TDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwAB= QfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2= P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MR= gmquu3EG-2F-2BAJ2yKU4LIA9hT37UCZozp9JkkeMQ7bk4gG-2Bkah8J9ZBgNnClTI7acV7JdJH= 1Ksf-2FywkfRKmzrY0hNqMSpkPo-2FEjIV9UBv6fNRFo9Wv8x86Nk0kKj7xo9UbV53fW4JMGoSU= 42mvQv4okOD3xUcIIeHAV7jvcvKBWbPRWFEKrMsqEzCGl-2BB9XEkSqJLhp80bzfYG0jML0eL1Q= l-2Bjdlc0PAK-2Bv6SWlCyjoxag7ry-2FXO6yRvYpv2LjKXM4T3Gn" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Selatek</a></b>, a Swedish installer of = security, electrical and automation systems in buildings.</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><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8Lr0AzTToHx1cEGuJ= 107b-2BZQ-3D-3DHNNa_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDa= TduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij= 2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b22= 5dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquIq5-2FX5fDL2WsieS= vuBpp-2Bg-2BNl8gJc7qwtPfB4lFWFlE9pcdA5ZU3-2FG3B-2BYjQ9rH1xunxE4DNTG9DN3TtlE= Ej-2FddoTn4hBeuie7MKutoNQTRIxlgzvgAvE-2FglKx-2ByeWMRSRrRWWS0TS4UXRvLNn1cgHd= jAb5-2FobOKQE12iGGAktnR8x8ns5yzGkZxxuAvAvJHGnSiR2fBPMGbfo8PxY-2FjCECTildlUy= Q9AaIXhpWBDQPGTwJtpRgqAf39T-2FtfwEeD" style=3D"color: #1D5080;" test=3D"" u= niversal=3D"true">Revolut</a></b> CEO <b>Nik Storonsky</b> says the London-= based digital bank plans to go public in two years, Bloomberg reported.<br>= <br><b>Blackstone</b>-backed sandwich chain <b><a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LaLSIxzeh5hJIpxf66YGtUA-3D-3DAJwu_I3w5d9c= 01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4P= Xn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw= 48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsv= oIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iA= Pf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu-2BS-2FpfasMvfby5hb3gew1FI3Dkga2A8zB9cBMkoM1= Le-2BCWeBdcTeYTGP5sL84cMkyHZv-2B-2BOfZvzLJSZH2Ns6FzYLfXsaHaWJie29gkxTlzCMQX= bbYHXnaC3MIHAEnCp-2F-2FOE77-2FzWbALISsOnyI1BKFyUXyuPapzI6A8Rqn2uAKHcFwsPaRq= DCDMGog-2Bjk8jwo6ChGKeTa3Xlgw8o-2BoG-2FmPEgmu6QP6LmEY8XgVqIfdSMkqw0PMFV09dC= 3xeQ2w0fk" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Jersey Mi= ke's Subs</a></b> confidentially submitted a draft filing for an IPO.<br><b= r><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8L4CHhtxg= 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a-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LNm40eDrH5i6bx8K8ASHbxQ-3D-3DwRk9= _I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTF= yypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2= wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0= OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUr= IIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqusBTd-2BJuOHZAVG0Rl9bl5eaNOW8s6W704oJ= ya-2Fpe9qhfr6-2BTmfEe2Qzi09femv5UnSbW3PT8kfy5Nviw4Y4j9jJPM-2F30wM-2FOAKX60R= d4T-2FjqOb1vDWZpmepYH-2Fo0oalB-2Baqf2EI7Dcw4OOEUP73Ui3kdJMA6z-2Ftqp-2FdUEi2= wyPQviereay-2BhHIj6DfaS0aQUSZBVlUlWFp3np5ObFJEWnZ6Usr6dDYUbRyuWsyS1Vkk2H2hk= 3HFZ21OZ4pyLpgiMZ" style=3D"color: #1D5080;" test=3D"" universal=3D"true">O= dyssey Therapeutics</a></b>, which is backed by <b>SR One Capital Managemen= t</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-2BPihgQefFSO8L6UOLe59qUnAmT8Jx= 0MIOcg-3D-3Df1ot_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTdu= hgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZ= dneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dA= YP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquGQx25p6AvvdJjtNkGhSx= oMbdc1hzRVKAHt8tj4cSQ3sHuNygGLs-2BXssM63DZyiE6KMaFl-2FsxPcRZop3URC3Bplf0iwa= Cnhd2kLlR-2BAyC9PAomNvRSoARnXzJEahxhiv9G8kIq3N2kj1qB0keUP3dOiHgOKtg93-2FnVZ= oqkxl-2FVIkKbpUjb4vNtpbRxtyzlfckKf6X1sqUt-2Bg5uYgVRr7adWVMKrktBZAtWQCnmUnc2= ZFcouAdAzfmvgjgh-2BhRdroK" 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.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LCE9nqZwVgElU1PV0xEoStw-= 3D-3DV2JX_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8P= zsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpH= MWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7= Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOz= Pw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmquLE-2FsPzT-2BFGysOOSmUHufyL1= LKGrNi0yE30hv4V3EDsD5ZNlJv-2F1cWwGa0O-2BHy2ef0DUbb0E0aNBLY5me4eCpoETDGT6jbH= aDLOwAnJtUQoct8ZVI055fYJPpFEOoQYa3O2YM-2FVSaFw58x0zwFRBw8LQTyneh5Dez6X0lb9b= XIxf3kOYtD1LzcApvq4ZUT5yAdP1xZBB12muD-2F-2BLtRvJOqo18r8MZIJHEWm6T6XOb9BmrD5= 3raAAjPMDWCE0Uck3r" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= Varjo Technologies</a></b> are both considering Helsinki IPOs, Bloomberg re= ported.<br><br><b>US Venture Partners</b>-backed medical device company <b>= <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LX5iBlF-2Bybo= FAJQwiw2RzGw-3D-3DBkF6_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbc= bdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AGbT156lOOP456eg63seLzTDenQ7pra5cgXKojk4= DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVjUWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg8= 7ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu296UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1= b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHWQhXja6Ir1AZ-2FfSP3MRgmqu6UKODZi545hxvc= 8FGXhPNKu6fU0y6QVEeqCwUv2klW49bMemqTExqOx1wDQspaQNETWhGAnHGFtyC14oSP3Ct8uU2= 93gd-2BAGGcjJVdv4opF4VwD1DYTwFA-2B34N3KpKMOg-2BiZkq9J5icCaFYmWBid3kDUG0fppE= 7qXjL4scFPS8yHJCapFFFPcxt9uCU1Rc38FCes54mhD2R9ftd7JIsBQUcfw3txRd1W6eF2oljO5= ujpKbJRi0g1h9fVoKvN2JAa" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Mobia Medical</a></b> filed for an IPO.</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-2BaqM7ONnvsnswouzWEE7ZIouQ-2BPihgQefFSO8LyGzo74a= 9HPVVf8delsDBAQ-3D-3DgAb__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= 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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">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= nswouzXGs2V8qvbaAOwxz63cedqz4PC2wj5tRnEYZ0UCiqOPwg-3D-3DM2Jp_I3w5d9c01gkD8g= LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF0lKhTFyypsuo4PXn5u8AG= bT156lOOP456eg63seLzTDenQ7pra5cgXKojk4DDaTduhgTsUpHMWdNLFDe2wTHA8Jjw48MpKVj= UWJmx2pjblk-2FrMMwABQfZ2LLsqA-2F8y2Fg87ij2IZdneTRX7Zpx-2BzG0OxB4LXsvoIDgeu2= 96UB12fbV-2FLnxA-2F2P6gw3NdtlMAJKC8SG1b225dAYP09VOzPw-2F3PUrIIkov4iAPf1rgHW= QhXja6Ir1AZ-2FfSP3MRgmquL5pg7xYBAw3D-2FHmwRNVo1-2BQWoZJQpHq1qxEQpiYqc7GKia3= YeHCByy8JeL29SlInztTEIzbGIN259cgqT03O8rxBuB11DJSFcX0iwF2pjGwr3JkwhphKev-2F7= dlXxV5ecqz-2B8-2BZozGEZ0IXfQzV8PQRkctEuBaoG7ytakoYdzmauiXT65GEU9DTvV8NjIy-2= BVFhj7F-2BXsLEeeRfRtZ5cIfSFeghwMa7OeUSVAcoiD253yk6c2y2a6gMSQdQcayXG2v" styl= e=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; 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