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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 What's drawing LPs back to China; legal dispute highlights tension in startup ecosystem; enterprise SaaS surges despite opposing narrative May 20, 2026 | Read online | Manage your subscription The Da [...] Content analysis details: (0.5 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#dnsbl-block for more information. [URI: pitchbook.com] [URI: claude.com] -0.0 SPF_PASS SPF: sender matches SPF record 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature 0.1 MIME_HTML_ONLY BODY: Message only has text/html MIME parts 0.0 HTML_MESSAGE BODY: HTML included in message 0.5 KAM_REALLYHUGEIMGSRC RAW: Spam with image tags with ridiculously huge http urls 0.0 RCVD_IN_MSPIKE_H2 RBL: Average reputation (+2) [159.183.175.69 listed in wl.mailspike.net] 0.0 LOTS_OF_MONEY Huge... sums of money 0.0 T_MONEY_PERCENT X% of a lot of money for you X-Spam-Flag: NO <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www= .w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns=3D"http://www.w3.org/1999/xhtml" xmlns:v=3D"urn:schemas-microso= ft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office"> <head> <meta http-equiv=3D"Content-Type" content=3D"text/html; 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} .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; width: 0 !important; max-width: 0 !important; height: 0 !important; max-height: 0 !important; opacity: 0 !important; } .line-breaker { display: block !important; } .responsive-img { width: 100% !important; } } </style> </head> <body style=3D"margin: 0 !important; padding: 0 !important;"> =20 <table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp= adding=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri= f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span = style=3D"color: #78766f; font-size: 1px; display: none !important;"> What's= drawing LPs back to China; legal dispute highlights tension in startup eco= system; enterprise SaaS surges despite opposing narrative </span></td> </tr> </tbody> </table>=20 <style> @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 800; src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne= wsletter/Roboto-ExtraBold.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 400; src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news= letter/Roboto-Regular.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 300; src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle= tter/Roboto-Light.ttf') format('truetype'); } @font-face { font-family: 'Roboto Serif'; font-style: normal; font-weight: 500; src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com= /newsletter/RobotoSerif-Medium.ttf') format('truetype'); } td ul { padding-left: 1.8em; } td li { position: relative; margin-bottom: 0.5em; } </style> <table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing= =3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo= nt-family: Roboto, Arial, sans-serif;"> <tbody> <tr> <td align=3D"center"><!--[if (gte mso 9)|(IE)]> <table lang=3D"x-main-container" width=3D620" cellpadding=3D"0"= cellspacing=3D"0" border=3D"0" align=3D"center"> <tr> <td> <![endif]-->=20 <table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"= > =20 <tbody> <tr> <td class=3D"content" width=3D"100%" style=3D"min-width: 100%; pad= ding-left:5px; padding-right:5px;"> <table lang=3D"x-header" class=3D"container" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> =20 <tbody> <tr> <td> <table lang=3D"x-header-subscription" style=3D"min-width: 100= %; text-align: left;" cellspacing=3D"0" cellpadding=3D"0" align=3D"center" = width=3D"100%"> <tbody> <tr> <td class=3D"header-msg" style=3D"padding-top: 20px; paddi= ng-bottom: 28px; font-family: Roboto, Arial, sans-serif; fon= t-size: 11px; -webkit-text-size-adjust: 70%; text-size-ad= just:70%; -ms-text-size-adjust: 70%; text-align: center;">May 20, 2026 &nbs= p; | <a href=3D"https://url6380.news.pitchbook.com/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUbkUWn32vpzHk= Bu0wSYn0-2FInWdDDzProID7VdYgSfoFA-3D-3DMCu__Pr966knuaHmaw6c7pKvB-2BCEiDnj5U= wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBd= mdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3K= yrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8U= ip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyL7xqAtM-2B55A4Q1Bnqc9BQ2z= miF7Pm9CK5bPGTHY-2BR4doxYaHe2B8J-2FLdunXUvpqujdeQ072HL50wzMBxBu6qSi-2FuRv9w= cec9DPORqkiYC98HJKvjzpoHLzlc376VqIcIA1dAlV8388QiEAQCqfzsGfsEIDdquvbAsMPOmCX= H6LvrOHLXog87kL77H8SCpNh2DvVJ9h9OYk5SJiaPCeEYZNLQPIr4kiBM4LISoW-2FOlpZTAB-2= BX7u6RAIs2PKC3J73D8LiZmL-2BSf445zYKzjKeGCz" target=3D"_blank" style=3D"text= -decoration: underline; color: #1D5080">Read online</a> | = <a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSgX8wjgWQkjpY2yE70mtuFtQh5JM= ynEp-2F-2B0ZsygXiW0c8xb0JNNkFtjTfdSBLrG5odLYHQXzZYap3xyjo613CQL5EKIRNY6DZpA= pxW-2FtnBQxpZYVDpyvCJULc6js75N834Kg1wfc9mFqyoHZxYrhZdlqtw_Pr966knuaHmaw6c7p= KvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7E= LEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmR= L5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQA= Gh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyK-2FpRdEHJQ= a4zuu1tmfm-2FNAhFX7nA35O5id-2BiVupuA2fuJeoi0DroL2XUWLUVP5Zu96-2F8AojYjymFFw= BXN3v9K81atJN9PkjwdL80UQWzy2XmAS-2BqZV16phpBNzAuIhrKGl9hsS-2Bi8WwUtn7vpZlfy= NXDaEWa7xBkmmICSQYwt3s5t2mlw-2F9APoHzDP1zT6j9nT1-2Bm2bMh5cWaK2IIUdNnbwJxggA= kF9E0IbVW7VpSLSJ6qMptBNHSYoQzolE76pmOgms-2FQ5yIjDZybAJIeTruR" target=3D"_bl= ank" style=3D"text-decoration: underline; color: #1D5080">Manage your subsc= ription</a></td> </tr> </tbody> </table></td> </tr> =20 <tr> <td style=3D"padding-bottom: 14px; text-align: center;"><a hre= f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzUbkUWn32vpzHkBu0wSYn0-2FINqm57HqvHq2g5KxCGS2dA= -3D-3DEQh9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpm= mfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00t= rxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3Wg= yriLU-2BMh3eiF9MyJSDkrPGojZ70gB-2BvsIhOfS46B8VZrRw8P-2FC1xlaCFzpWK83vziw1H8= l9ggsKYjtQogqUcvMMgZtDKNdKoi3hN21ZrmxrOHtKSzN7E7YPd67WXDxJmHqF3ZT9hgPgs7U73= e1Kig-2F8oPpduv0zPtgyYLoPsRjXMoHrCUzXz78Q8QJdWh0H7xLmFYHmgXRGVsIgbNdS-2B-2F= m-2F8LIyH-2BCHX-2BMBwWOJWR0RpVsy-2FD85fytNdYv877R51thTk32gxFVsA8rc-2FHO7S8z= 1nMM-2Fr2QrKHym8B" target=3D"_blank"> <img width=3D'1' height=3D'1' opacity= : 0; style=3D'display:none !important; mso-hide: all;' src=3D'https://my.pi= tchbook.com/ms/pixel?userId=3D3DUK23EBU6P5WAW&eventSource=3D3DZQDXJQ6VUBAEC= QE7XY5D5PSLQI&emailId=3D3DAQGQUP4X7JJMC&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL= 245ZG625LDUYNYOD6M6QHVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DUAZEVU3EPI6EY= RHRSC2KEHCFHGQ6ZMZBKVWWKQA.gif'/><img src=3D"https://url6380.news.pitchbook= .com/wf/open?upn=3Du001.3gwe9GsF-2BTAFq5zC5EhFQ2a8abB1qTlMwYRLNzMolGjSmCPqR= Zuyzb5tQBOnSwcKxV3T2Sg1xC-2FvdPRR32XjDHDLmd8RuRHJfIqx9B-2BkOOYrXS7NTfEq9lZe= VFh6RxMUR-2B9BDz0WypzuuORvXjbCjVP-2B9d-2BgPBWbkrxd-2FtA8VkZXbHEAuae1LEzyGXx= 9RskPTMKmf-2Buplyj5oKAW5kPL7EerYpP9YKyHqH5UgvdIgqeHiVVx196alLaeLmgZcwgBsAUn= Ga7a7KLnBKmPGf80g7ycxcvnmZYDsHZvUnCb2e6vjiLk75csr0L-2FGiF4Q-2BR8BIN1Xy5uSDn= aVzP3fizDxfkFCnIKNHqDp9UxcsuFzAkLKowKqA011pNgiRz4ZE-2By6MmL6Tz2yyLmpbDcCKFm= es5qN5Sa3CAjtfJNpG1tDmXyYw9WMRfjHHa7tdaiAX7MIYkuDThtQeddNlXCjyuLlDYP4WoU-2F= pONRxk6-2BlR7AXKOUWvYJn-2BNJ7ZywPyj4pzeGr5UhmjKdRr9EB5nlzluoVqe1w6QarDR78OM= J1QKIuhuF5W6GAioFOaU3-2FvPONw8" alt=3D"" width=3D"1" height=3D"1" border=3D= "0" style=3D"height:1px !important;width:1px !important;border-width:0 !imp= ortant;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !i= mportant;margin-left:0 !important;padding-top:0 !important;padding-bottom:0= !important;padding-right:0 !important;padding-left:0 !important;"/><img wi= dth=3D"141" height=3D"39" src=3D"https://fonts.pitchbook.com/newsletter/pit= chbook_morningstar_logo.png" alt=3D"PitchBook"> </a></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&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;= display: block; width: 100%; height: auto;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" 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= =93=8A <b>Check out the new charts in our Global Fund Performance Report.</= b> Get performance data with a new look, driven by the narratives that are = shaping private markets. <b><a href=3D"https://url6380.news.pitchbook.com/u= ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUbkUWn32= vpzHkBu0wSYn0-2F4fqr0tm7oqNufupHE4oT3Q-3D-3Ds9T5_Pr966knuaHmaw6c7pKvB-2BCEi= Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMj= rqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOO= NtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm= 6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyIbe3tyQptlskrB-2FN-2= FrCEWK2X24TK-2FB9dW-2B-2BUji2N8LG4zYUUBg5lUqVU-2FTOct1O3EA6JI4QeU2emeJI0zq2= kbRHZcmq76X1yoA9e9h9wSRjBUK5YO65aLZ94DSH00xo7esQnnFi1Q4nwWbT9-2F2U4-2FlLeTA= riv2Qg8CBfD9Jzl-2BNAmQ4-2BnCl0st43K9aEfavqiVVW9X65S7L8QniFuNYnyUCybHhpyCaJd= 0bQhwWsQGLDuAt6Kd2r01sm3DTNbg7YaWLXpoQfCvssQCSMSANC6h" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">See the data</a></b><br><br> And, <b>where do you stand in PE's crosscurr= ents?</b> Will the exit window hold open? Will software reclaim its throne = as the go-to sector? Tell us how you're positioning in the current PE lands= cape in our two-minute <b><a href=3D"https://url6380.news.pitchbook.com/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZYg= s4sDQC2KrdknNqjFiqNdeLtM-2FeCUvw-3D-3DE1BV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdm= dLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3Ky= rDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Ui= p6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJq-2BbWFYBy05yDzbfvzAA1rdj= zrZ4rmHFm-2FISNCXG8-2BlzuwWbw37-2FjrbXjg9pfalcdwcJ4uQzbqqaOvU7PYpHWGOX0uzfW= qA5CrOh27MsyJRLzV9-2FJ1qAh37wYZMuBN9DrdwXAp6uvCYEqtqQYbupjVVPFmj3lQDtaoI3WR= 68iwnbDthoR3-2BtmrODF-2FekcyPH6QppfEdx5Pv1TqxcXiOjrPfZ9mAAraXOe2hPxUztYU9uw= e424q-2BgdpWXMFH1nOZKV77m7UoelmMajWO9HdKJwj" style=3D"color: #1D5080;" test= =3D"">Q2 2026 PE 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_581041" id=3D"n_581041" 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;"> Blackstone-Google joint ventur= e funds computing power, not just data centers </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-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2KOFgHfEt0O= TaItxPYmeKvSA-3D-3DMVRm_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi= 8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5X= cM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPL= xadnpm0iJT3WgyriLU-2BMh3eiF9MyJkME92yaknGMmB-2FaYMOJSUmSqMPWyb-2B3zQvfpgGYs= 0VmUjkzoX56rSSGc-2Bj41GByFQ-2FlirgCg6wEGWWPeeh2ejyy9d9qWmpA-2BDfmV7m-2BIaI6= OFeAEIX0BlD8MAx3wrfl3FO60UDcIllQVv8BGHaDPJT6hTet4XUcbFO5hXPEjN3QmBUDhm7si-2= Fr-2BZVJjWrM5sxRgxOwsLA9g-2ByrC04QYNxsQ34-2BztGpCyM0Bnj1eQ1LQGfLxucKXyu5N2w= YleZcczM1-2FJIb7FNbjTaXZA9Gw86" universal=3D"true"> <img align=3D"center" a= lt=3D"" src=3D"https://img.pitchbook.com/news/74406.png" style=3D"border: n= one; width: 100%; height: auto;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">(Josie Doan/Pitc= hBook News)</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By = Esther Luz, Private Equity Reporter</i><br><br><b>Google and Blackstone hav= e formed a joint venture</b> to offer artificial intelligence data center c= apacity, networking and computer hardware as a "compute-as-a-service produc= t."<br><br><b>The tie-up opens a new avenue amid the rush of private equity= into AI infrastructure,</b> moving it beyond data centers and into financi= ng computing power itself.<br><br> Google will supply tensor processing units= =E2=80=94chips built by the tech giant for training and running AI networks= =E2=80=94along with hardware, software and services.<br><br> Blackstone brings capital, access to equity,= project debt, power procurement and institutional demand around a single p= latform.<br><br><b>The deal is partly a way for Google to expand the market= for its TPUs,</b> AI chips that until now have lived almost entirely insid= e the Google Cloud software suite. TPUs offer customers an alternative to N= vidia's graphics processing units, which dominate the market today.<br><br>= <b>The JV also allows Blackstone to own the compute that sits inside data c= enters,</b> not just the facilities themselves, of which it has acquired se= veral over the past five years.<br><br> Infrastructure investors are familiar with l= and, power, fiber and data centers. Compute is harder to get your hands aro= und, as it bundles fast-depreciating hardware, software, customer contracts= and enormous power demand into a product that looks partly like cloud serv= ices and partly like infrastructure.<br><br> AI chips are very difficult to underwrite. G= oogle has rolled out four TPU generations in roughly three years, compressi= ng the useful life of any given chip and making it hard to ascertain their = residual value. A data center lease lasts 15 years, while a generation of T= PU technology can feel antiquated in three.<br><br> Blackstone and Google didn't respond to ques= tions about the deal.</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-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2KOFgHfEt0OTaItxPYmeKvSA-3D-3Du= AJ8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24L= ktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrM= pc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gk= tpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2= BMh3eiF9MyLyNYl-2BeKYcKtb2Ew3EpeCTrUjDsJqlEG1KWj8zzpZIcYX3D3C0Y-2B3cxfm9um8= 5BGe8-2BZml0DrlsKwgteYIdC9PNS8C3aRDmlXaho-2FwAwC6ti4Vfg-2Bvt1cDbovVh388tSfI= 3AcQqkFG7luKm4O7Bn3brXxivJRuUNVQNUn8waCVyt4vd4B0x3Hmsluqcd76ot2QCbN8sALW0l3= 9ggbNHm-2FiZxV0HwROgxb5ru4OZsDCXSnKPVUGGaVKs-2FtQj7F4vt6bCJO1QqqcjYw36vX4P-= 2FAB" 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">Read the full story<img height=3D"24" src=3D"https://fonts.p= itchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; m= argin-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 lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"><i>Related article:</= i> <b><a test style=3D"color: #1D5080;" href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zVJRf6V3NviGZYgs4sDQC2KNb42xCxdDRzQLg-2FWYjeawg-3D-3DjsNW_Pr966knuaHmaw6c7p= KvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7E= LEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmR= L5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQA= Gh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyLrnH2bzjxwu= trZuCYvQ1SrbxGSrkMZSn5YwCpCizml9Ao11v9RzD5P638PombUJ17neLTcCNYtwKV3qM4kZIsY= uPLmBVSa-2FCJd-2FjnPQOyZ9-2FkyyxxtSFHPWcvEbZq7rzLXcrsZbvnPgpmubW9Ifw3-2BHFB= Ne9GzMk8HZ1YQsAHIW6GZMi7tItpkXuSyqmQIN0KNGdCk-2FyL6Ve5CSp0r4e25L8IRyKVM0WXF= 61ZYJgCv2MfJLC2LUumCxscQ3cLyIXFZlc-2FfOcfIpZa5Yv75aNyU" universal=3D"true">= The AI race to IPO passes through PE portfolios</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 SS&C Intralinks</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_580557" id=3D"n_580557" 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;"> Adapt or fall behind: AI and t= he future of fundraising </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"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"float: none; padding-left: 15px; "> <tbody> <tr> <td align=3D"right" style=3D"text-align: righ= t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2K-2B2tCA0MvAbGlf= MVLdhqDkQ-3D-3DGVpH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXU= UR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8r= OgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadn= pm0iJT3WgyriLU-2BMh3eiF9MyJZvfUm2bmeBY2JeQMpTs12YsDhRwx9MWAv9XTnOyaHTAu1O3y= 57sHjRkbhtkyKanMlqbCg9ReRuy6RK4iNyQTgk6iuXo1I6auSb4nuD-2FMi4mPBJ47qBt1aXYkz= opNWy9GE-2FG82vFTt-2BK91Mbg558c13dGV5pGeyTUGJyGGM13F48fdxk1dZkoL6OV3WPb1hFR= eN64IzaXfNr2OVG6jwEB8lr2-2F0E1Y3xiKX6VwBM-2BJPrBCJ2yuXDwFhDza3QLK9DQUx0VJ57= al4z5yQpziGQkZ"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchboo= k.com/news/74266.jpg" 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>Fundraising continues to be under pre= ssure. After three years of decline, fewer funds are closing, capital is ti= ghter and liquidity constraints persist. Yet beneath the slowdown, a shift = is underway. AI is emerging as a critical differentiator, changing how capi= tal is raised, evaluated and won.<br><br> Download this report, published by SS&C = Intralinks with PitchBook data, to see how fundraising timelines are shifti= ng, where fresh opportunities are emerging and how leading firms like Agell= us Capital, PPR Capital Management and Cloverlay are staying competitive. R= ead about:=20 <ul> <li>Why a slower fundraising market is creati= ng new opportunities</li> <li>How fund sizes and timelines are resettin= g</li> <li>Where emerging managers are gaining tract= ion</li> <li>How AI is reshaping fundraising and opera= tions</li> </ul><a href=3D"https://url6380.news.pitchboo= k.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6= V3NviGZYgs4sDQC2K-2B2tCA0MvAbGlfMVLdhqDkQ-3D-3D9W4f_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODG= FMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZ= OOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPA= YLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyIYMkITZHnUzHtsUVy= 3sN7RXowsKPQRIq-2FemEK7ODdtEr9u0XMfvJy6nbfV2ScqrLDtQFoOWojXgGXz1yTYyMCQKtaT= NuyQenYZzhi3Ir0TLPcMaYTPk0f1HgYBmISSERwr1P8JbZclFT5x9YH-2B2iJ9Hi8-2BfZ08dlr= wTx-2BFAiF91GYXXaVsOaQFSU6OUhDXmDSok29PEof7SmdXTOhXhCcMWVnn6Y38sv5MTsbJB7Cl= ZhDhibAliuZObwJGy5l65GOT48m9JEam7ZDcWFX2dqHv" style=3D"color: #1D5080;" tes= t=3D"">Get the report</a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-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>VC funding for the enterprise SaaS industry</b> surged to a record <= b>$173 billion</b> in Q1=E2=80=94a more than 6x increase quarter-over-quart= er, according to our latest <a href=3D"https://url6380.news.pitchbook.com/u= ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3N= viGZYgs4sDQC2KJAdkHPBKw426d3Uy6DXemA-3D-3D_szM_Pr966knuaHmaw6c7pKvB-2BCEiDn= j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrq= aBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONt= C3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6z= L8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJy4AyMWNa99-2FKyTW7x7z= OvZjpjHltUTxl3nJ2tBsGx1FFx74xUZWutTDJCn2ToSRcGdQs7VEzPlbvY05TyQA8DlSM3pBuka= zdfdR3ZyebknM7kmedigD9R0OBSTXesYldDsNqycCMDR8BCjK99NMZUrucVQEaQjfeDuji17UcH= TRaNUKdJBQNeaPdaDs9-2Fdag9Ww-2FVruDTWDq3yR5250vZh42jMKgn6LeFgGPFI95BmTF878A= LwS1A-2F-2BDfzLM5NxhSaHuDtDSWfD-2FYBwxXlv0h" style=3D"color: #1D5080;" test= =3D"" universal=3D"true"><b>report on the sector</b></a>.<br><br> =E2=80=A2 <b>Kikoff's co-founder is alleging= in Delaware Chancery Court</b> that the fintech startup's CEO froze IPO pl= ans and pressured him into a discounted share sale=E2=80=94exposing the pow= er struggles that can fester when cap table control goes unchecked. <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2KSWxx9HVA1AUJQKZWSnMq6= g-3D-3DDXoS_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA= 68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvp= mmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00= trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3W= gyriLU-2BMh3eiF9MyLWemK4AjAC6SQ3fXM0yPLSVf2KYFzIrMgdCqqX-2F2WtrUV-2BFVeNq-2= BWZWOFnO1NE8N2RHoZMLReKOX7Ll9AzhgOinJQXycR-2F2GsTw8tq4sverHIYBV-2BQx9fZPRqP= bS8VqDumQAeYiKV0VIyK-2BKw9tFLYzTyzFSlgVBlrutQgx8529Un05qNSbj28mG2EONWnbNw2N= zkFDCScLrGFx3-2B8-2B3oVFTOJ0RdywpP8BlZAIe2po52ljIEQSk6qsVaCBRHJyA7xk5gprH0L= FKLQNNGd9TA3" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Fin= d out more</b></a><br><br> =E2=80=A2 <b>There's a growing valuation gul= f in Europe's VC market.</b> The culprit (you guessed it) is AI. <a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2K-2F1fXFYK1yyvcDal64ttQzA= -3D-3DSaiD_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpm= mfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00t= rxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3Wg= yriLU-2BMh3eiF9MyJJvSXaz1F-2BEWJ9crtykF-2BLSCVrPOp4spuh29nqWt1TcB7aAS-2BByl= N4w4wuDRw5iRTSvbDydjLusoluBJ-2FQ4IysZ6AERh-2FkR9nCm-2F8MdeV03n0D1l2kG1Zwd3E= OoVpo5p-2BLhCUViWowz2Um9eDyaSkP-2B-2F2FHi8WY0tCehiGrRgrZggI8pMJXb8BzviU9hip= Gs7BHL9wOjNEIITNkdOOTWnYVa-2FdHcwlqlpPuwqZBhMgUPs9Rgajw5xL-2B5hvrc0wsUzl5QQ= eqI-2BezDsAOPUir4aM" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= ><b>Read more</b></a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </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_581043" id=3D"n_581043" 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;"> China's AI, robotics edge is w= inning back Western LPs, say investors </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 = Kristie Neo, Senior APAC Private Capital Editor</i><br><br> China's manufacturing clout, access to cheap= energy and a robust IPO pipeline are giving it an edge in sectors includin= g AI and robotics=E2=80=94and luring back Western LPs.<br><br> Greater China's private markets have seen fo= ur straight years of fundraising decline, buffeted by both US tensions and = weak domestic consumption. However, many investors speaking at an industry = event Tuesday in Hong Kong said China's private markets are already bottomi= ng out.<br><br><b>"I do observe very clearly that sentiment is improving fr= om a Western LP perspective.</b> =E2=80=A6 If you look across the world, Ch= inese private equity still churned about 14% net returns," said Brooke Zhou= , who co-leads Swiss-headquartered asset manager LGT Capital Partners' APAC= business in Hong Kong.<br><br> While China continues to face most of the sa= me geopolitical and regulatory risks as before, it shows a commanding edge = in specific areas, especially those sitting at AI's intersections with hard= ware, infrastructure and applications, noted investors.</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-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2KONe9wcsF5= LUHwQpUjCbU6w-3D-3DnTIO_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi= 8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5X= cM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPL= xadnpm0iJT3WgyriLU-2BMh3eiF9MyIhPJDxHUwxwjRZNnk-2BYV4UutGJ5B8fx8nUmbPN2Mh0k= e-2FOskscGYgfnEo-2FsSbR28Am69ZniY8PsO67PI9CndYcpVAwNVeON8ZPOxIFc3sIQzj3zRp8= 7BmNM51eqtqqW64C8AUUegu9Y7mOLVsXQZeln3Jo7xFtuKoMMQjPe-2Fv73siCYPUaI3kWFp0JW= 6WeNNwtm01t5I9R3r45rGbDUMwsxKe-2Bn9uHvlJ-2F6jolZqmPOCZNNT-2FTw16xE8f6LW8L8V= 0y5E7eyWKuoC9Q4IeNskq9" universal=3D"true"> <img align=3D"center" alt=3D"" = src=3D"https://img.pitchbook.com/news/74407.png" style=3D"border: none; wid= th: 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">"China= is already exporting low-cost electricity in the form of tokens. Ultimatel= y, the LLM model relies on chips, energy, and which country can provide the= lowest-cost token. <b>China has double the electricity productivity than t= he US, but at a 50% lower cost per kilowatt</b>," said Jing Hong, founding = partner at growth stage investor Gaocheng Capital.<br><br> GPs have already been putting money to work = again, according to a recent PitchBook analyst note on China's AI market.<b= r><br> Investors expect Chinese AI investments to r= emain resilient.<br><br> "We've been seeing a lot of attention in lar= ge language models in the first half of 2026. But I believe in the second h= alf of this year, we will see more activity in application robotics," said = Lane Zhao, CEO of Beijing-based PE firm InnoVision Capital.<br><br> Sentiment is further supported by China's ro= bust exit market, particularly in Hong Kong, which claimed the world's top = position for IPOs this year.</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 #40C2C9"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZYgs4sDQC2KONe9wcsF5LUHwQpUjCbU6w-3D-3DV= cBw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24L= ktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrM= pc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gk= tpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2= BMh3eiF9MyK-2Fj6eTWrs-2BaRKb4XCQlWTDkoxzKcN-2FtrcZHAmOHf9HEbM7hNWtEoZ-2Fhwc= FjKxjtzKqDS0-2BfswHWWr8ym7Mv7EvT5MDqrXeSnQHuT7anO7kX4j-2BGx9xLuPlX3-2B3Vrk7= IioGK529-2Bh3Oa2QLzpTTRgW1BAOndvCs5sqhpJnavCPYebxFJHzp-2BCZr5YCYoh2eiruL9S2= d38oU-2Br1Vb-2Fuswnd7UQsm8TW5-2BoqZjaEHd8-2FAnMrHRv6y7QjlYr6dVhhUhUPxT2prCS= j61-2F1iPnl1aKZ0" style=3D"font-family: Roboto, Arial, sans-serif; font-siz= e: 18px; text-decoration: none; color: black; padding-left: 3px" target=3D"= _blank" universal=3D"true">Share this story<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 analyst note:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni= /ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3Nvi= GZYgs4sDQC2Kcc7RRxy6qHcaNOW8c9zbFQ-3D-3DurSM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaB= dmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3= KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8= Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyImj0qBlTsqwYtrlBhuhrkcyj= 92Xc-2BikVVNS4mWhXJsxTvuf6219BrrC0PmHCiviKTfpnjKqWOadOqhgn0CQRl-2Bx8LI4i39A= hcV9dzdzc42hCLr9ICcL0oFCnGWTRWTaIiMvzZEgZUkR9sVhiImJOmAl-2F0qrwmMRuzD5Y4GyL= gLXaxSiHx2cveqiA5FGh7EgXIJhsAym541v7jbUs7RPNj1lrfeSB3sKTBTmvmaBBg-2By2l1uRz= 9UGKDh-2BWw2D94J5JRZIG2rSD-2FqZLwUCyZKr7r" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Where Capital Is Flowing in China's AI Market</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>A year ago, most CEOs planned t= o grow junior roles; now more than 40% plan to cut them.</b> On the back of= AI disruption, the composition of the workforce is shifting toward mid- an= d senior-level positions. [<a href=3D"https://url6380.news.pitchbook.com/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVJRf6V3NviGZY= gs4sDQC2Khh2wcYXlxzxsUqxQ8ZR-2BMQ-3D-3D01mg_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U= wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBd= mdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3K= yrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8U= ip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyKrwJZ0CqugRYBKYHqe-2BRSHd= WJmzngyacYjziNkKli3pCYvy9KVJjvKyfpevh84-2FKSu33iqQkHBN10TVtnb9A9QfDV5u9lM4E= g-2BMq5TnRR3UIA4LyQxQp-2F2Bz-2B4RKWoAPIzhywXNoVpBTBqj7O2dqVkBNlmb6EGtIYAGh2= AE45f5FXkKNgsAgWEw3m5oGPNMTQsriSGF78j7VI-2Fmkg43h6o1hIvDMX1J-2B3qr37acIaq1q= -2FeRUooHpcn4ZIu-2Bb9PN9csJePlwWJv6cJdJ9GEQEYI" style=3D"color: #1D5080;" t= est=3D"">Fortune</a>]<br><br> =E2=80=A2 <b>If you're building or backing e= arly-stage companies right now, Claude thinks you should read this.</b> Ant= hropic just put out a playbook on how to build an AI startup. [<a href=3D"h= ttps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzWYWnDk0pI8H2NEQ9GMTpUM-2B7SCCNrINlmgUYBEd2upIg-3D-3D= fhGq_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24= LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2Kr= Mpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85g= ktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-= 2BMh3eiF9MyLSQDFyRZYALGgEemZBLDvGrQ9Ia0cwW1aYTWAMRyC8-2BbtPfSPHVb8bSWvTBVT9= uUf89BmfTGEHsCu3VAWqg2GlhQQPvyATN3bYGhWkWizKtizsmX8lzoUWHGk8oS0zLVDNo07FDA9= 2JDXhsxiRz-2B-2FOn-2FmRCxI1oizipzyojGxiXICLCwzs3ZcOTiIp-2FwOQ-2FZBN9zK1HNH3= Pa-2FWRF5qOM3YFzKafKfLaXPMr6nRzyULIXPgkCK29idrTCc-2BDQVm7srD19DdlH-2BPBgLGi= zc0f1TY" style=3D"color: #1D5080;" test=3D"">Claude.com</a>]<br><br> =E2=80=A2 <b>The "cozy games" genre has grow= n into a billion-dollar market</b> driven by burnout and escapism. [<a href= =3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzWYWnDk0pI8H2NEQ9GMTpUME69nPflpj6D1R0jxr33gXg-3D= -3Dug4x_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= R24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj= 2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE= 85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3Wgyri= LU-2BMh3eiF9MyIyCkL4dSDcIDbUQyFqghfN0gjvGpbA4ydR9BjxHmqI61W-2F-2Fucnzueakun= 8a4hFiKkrfKiXOr0GrhuGoMyPd5AbeBxvrg0O5a1dHexxGQzevd2jQCji8kIQoXaIWlAVIAIz-2= BAhzY-2F8ID4dMqXaB6V5Ga8xeyqWhUdXFQAc91QrEyJEOpwJDL6r0b406iLlLPIeoXrK7cTuuM= 8I7TFY4TsT6at25Oz8K54Sh9bMY4hI3vAk4nOedETuaIT0s5K8tHL8qDEqlryJ9TyU-2BAM1-2B= Z19M" style=3D"color: #1D5080;" test=3D"">Euronews</a>]</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table 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-2BaqM7ONnvsnswouzWYWnDk0pI8H2NEQ9GMTpUMm3clGnMERr8aX3Qkh8UpDQ-3D-3Dt-a= b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24Lkt= SlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc= 3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktp= RpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BM= 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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;"> 769 </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;"> 2211 </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;"> 1161 </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;"> 23 </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-2BaqM7ONnvsnswouzWYWnDk0pI8H2NEQ9GMTpUMfDDaOP2iPycddipbrGr13g-3D-3DcKX= __Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24Lkt= SlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc= 3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktp= RpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BM= h3eiF9MyKl9Ygq0mmip4eG6T3ZN2LY6U0stPoog1kRgckRU6ASC1A5xrvhsJq4KUq2a0iD-2BRD= Ssr5B-2F74BUn-2BXjwMGo0b9dCKBR4sR5n9rCBuuRUBRGlVXwHyq6bS64RzMiBa-2BxKpZE3aH= KfoUGXqo-2FALQcGW5aW9wPdsCWa8gbQS8gfoXxkNPB0JseyCfCwjlcEH6zwOBhVuUl6M29e-2F= 8SoivF9-2FTXCswuvtBZshqjf2sWIlblx3tbhG9IoxOsvgJ0NetCXZKyPvV-2FxsggUNFfMPUks= 1Z" 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_581039" id=3D"n_581039" 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: 2017 Vint= age North American Real Estate 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: 56.4652738565782%; min= -width: 56.4652738565782%; max-width: 56.4652738565782%; background-color: = #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">10.00%</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">17.71%</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;"> 0.89x </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= swouzWYWnDk0pI8H2NEQ9GMTpUM5jteVc11mqAq-2FR2e6Eu88A-3D-3DzvDd_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnT= jB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMzn= rxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQ= wUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyLCvRP0t= jAABG7DgITp8c5jMjvDuyi1CnWi4-2BkHGLr5pnuOJWfp-2BKQnmovaMJqpe3pkzWmSx-2BsKuc= eBaaB04v9HgLF9yj8mzyUd2ygJ-2B-2BMwnXK-2F0tqQNZ8x1nl5-2BzKm5E05Cm37m5pdsXCuY= LclCQokpUhr8QbgGTJ7iE2c0HjA3HvAv99LFReaxxREInRVDpcDL9BMAc-2Fa9kX0eVjurnh1La= 7pUR0EyPUrKnnEFpHCMdda7OCstLyLVIuqfChpLgijt-2FhYzn3LLW843Ee2wcDN" style=3D"= font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Rea= lterm Logistics Fund II </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= swouzWYWnDk0pI8H2NEQ9GMTpUMyhvzeCsQNo9mAMUi4HWHng-3D-3DFjXs_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB= 7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrx= mRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwU= QAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyIVabL4-2F= QeboczhifzC3SSoK4vodImvjzCV0vSna8vwSPgoLYBU5hESauAW-2FHqFPrDCh3j6Owx3XNLuEl= a6ci5A8jF8saRrO-2FlVkhG9Jxp-2F6aUHQ1w0MJLyXOKNbjIcNTXqrRkCUtch4xYXK1x84T1WS= ojGEUnULLcqweKtaV90G6lACRY0t6nSGTc1va-2FjkEthIWEbwvArEUTT4EtA-2FtqCcSdpM6CH= D6LI072fZUt8FLD-2FCF9sftjKFYnjUnamrFmETuz2vTHCD6QOS3IsXTo1" style=3D"font-s= ize: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Principal= Strategic Real Estate Equity Fund II </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= swouzWYWnDk0pI8H2NEQ9GMTpUMW5Mvaf5FlREn8ZjqfmRVyw-3D-3DmdIN_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB= 7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrx= mRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwU= QAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyLQl2t32ie= 0nLF6su3JedpjCL720-2F-2FI6Js0QQmdpnzLPaAFQxKxYz9G1zZGfVI36THo75dYWjSOOz9yJ8= agaOQt4xkgy5JFwhu2pPYFr9wZ2Gaf38lhVuq-2FYBw1Jh7A31OIVtyA6Y1avBpqDtczGei8xdj= 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MPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyLPjLBeZpP8HLMBDbORSDnuSgAm36rehYGjKdozGoP-= 2BfLwf-2FUQfC5AJuv8Y-2FDSBesrfsJepDSIttDdzPl8bOEJvctBSSbst-2BeQS3FzfqJsfrUD= UQcChnElZwC7M-2FKF3uwQQPtd9N-2BvvVqeWS26rWu1DWQlRhNgzoFsyZruRQJuCEaYi1yKi-2= FbRvvscDSCuC2qZcY39Urksg34D09uGBmg6UZtxyUTCJydAD-2BpkSolc1NB1D9RdNglaiPXngq= GqKNxoY3Xpfe915ULmUEKsm4SrF" style=3D"font-family: Roboto, Arial, sans-seri= f; color: #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" u= niversal=3D"true">69 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-2BaqM7ONnvsnswouzWYWnDk0= pI8H2NEQ9GMTpUM1-2BRL-2BxpIVHi8N57kZZBsQw-3D-3DoiGL_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODG= FMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZ= OOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPA= YLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyK0uxH0eMaUnXxmi7e= JxWOASlK0L9J6R-2FbPZSpjrRBoiZbK5NzebAwvPWvkTq8PmzoqBwr-2FmbE-2BoWn9VTrbeoDb= XcfyFnR76CzULOfVmI71wfCIS-2BJ4toM93bAINSXrqF728ibeBcT5UiDAw7S5ivE-2BBVSU7qo= 2OvTYqosqAzsmNZKHIKX4Ao7Nvqpq04dqnrO5B5zQAiB-2FlANGG9yWu3Sincxdrw97yP2VzTyE= CTRHURXPo0OStF6J2wFtsju5zwSMRlUWwWaaTXteHLVbfuUL" style=3D"color: #1D5080;"= test=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 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sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">AI sta= rtup <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmLDr-2B= ktQJqra0qnw1MrQglQ-3D-3D9oNH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4= BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczT= y8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1= BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJ= XKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyI7993l6B95pOZjVWPa5LEBgSgUnqLzDFqLtfsHdr= RWtpzBg-2BwVUE2gjYem8bYtYFq4028Z-2FdX1H4GbgKjR00RGEo5QOVSkMIjppwOn-2BAtOmon= Cf94KOwNmCb1PKEOIqFDagBIWpL5-2FfgxKeDPYCaugZiqptmyeEZJF5ZLE1i5urNiGOmxp5fPp= 4SN4StreF6G6sCWmUN6B7sKc83311TQIp4P1ldcNZsmU9VgHBI-2FiBshBgsFECeHFgWqr13qAF= 3QoFDo3Vr7yanYDR7F9UzDZ" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Decart</a></b> raised a $300 million round led by <b>Radical Ventures<= /b> at a $4 billion valuation.<br><br> Modular data center builder <b><a href=3D"ht= tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS= WIrf6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmcdP7avBVdJx5bDeE6Itc2w-3D-3= DYlAV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2= 4LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2K= rMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85= gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU= -2BMh3eiF9MyJu35iW-2FjHQgT2j9Thw-2FpKH5oMfhAeMpnfo4tujjzXUmAwMwglFfxA4cMKoE= C76gb3Pc1MnudcHsW1ln3RoWewJf-2FcCCbJSoJ9uqj9tFvek9aY22qgscU7LMHdl5nzW2x1NBj= qq40I0nuuOeFeS1hXQYWHLKlIW1TB1jc2u5lvHjIXmr3JXKgWacNt5WkRaO980xgFyMMtCO6fbL= ecdIGraerfyaJ9-2FuaA5x3ji3T21EKIAr7gwg3rZeMG9E1afi5jBLsrnosyzDlfz9ZcmMh06" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Armada</a></b> secur= ed a $230 million Series B led by <b>Overmatch</b>, <b>BlackRock</b> and <b= >8090 Industries</b> at a $2 billion valuation.<br><br><b><a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmO-2BkNYEK3FDwtCNkvkiH7fw-3D-3Di= L7p_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24L= ktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrM= pc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gk= tpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2= BMh3eiF9MyIPFIe6bvylkEN4UXxRPmiB3YX8fU1XMroCsmXxyHD5uwLepwiMSAjOFguT3jP3Tne= EYmiX7tRlmn4ALS4ACf5w9wEt76-2B54Z7x-2FD-2BAn2endMnn7kHzPZudgQFGOG0y0DL-2FTt= yaFfy1HrKNJJAb-2BWfcSjdUYm9j-2FxN4uwryq2nJQs1IOW0177ayKmlmOj4JbX4lx8t1EZdRn= r5xnRbi4-2Fbur-2FmXs-2Bl2GydbVkZm7uN1jWXxVrycYyW7P8f-2F9W3TJ2tAkP3f-2FWyjFF= -2FpEJNitZ42" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Radar<= /a></b>, the developer of a retail intelligence platform, raised a $170 mil= lion Series B led by <b>Gideon Strategic Partners</b> and <b>Nimble Partner= s</b> at a $1 billion valuation.<br><br><b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzUJ4cDF32yFMNpo9TPxVxsmhuu4Mn3csDydlCrwckbV-2BA-3D-3DHKar_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9f= nTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRM= znrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7Nr= BQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyKfkqi= C5vqBwc-2F-2FYlOik3JbUVGP9suss0RFr8wk-2FUMz9V05-2Fp2RG-2BwNauxB9zHdP0dqcvgS= NjKo-2B3oqVKK-2BB2Nv1UypWny8PruhWzTVWR0ULGBbb4-2BwW2Ih4YTkTUXWhSNpuHmXynp-2= F3HXo7zK3QFKVx2taHnCRCm6CO6-2BqZfAve5mH1RqoQoZNYcdaAB5YJMKEIN314GR-2FS9m5uw= up5mtcbbOGQ0UHbq-2F-2BYBj2-2FMQ8q-2BxZJtpuWgFhZs2uV5ahXCw-2F1E5-2FYCgvVmvT0= WTrecpA" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Sima.ai</a>= </b>, the developer of specialized chips for drones and cameras, is in talk= s to raise over $100 million in a new round at a $1.4 billion valuation, Th= e Information reported.<br><br><b><a href=3D"https://url6380.news.pitchbook= .com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUJ= 4cDF32yFMNpo9TPxVxsmu28cbRdKIwrw6l1zbPivqg-3D-3DSBjU_Pr966knuaHmaw6c7pKvB-2= BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQOD= GFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2F= ZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TP= AYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyInYo-2BzffM2iw-2= FYWwNoGzcudsOruX0aZUO5U3fsfWKhym3zU0ls8ISl77H4oMAJQXldOYJinU6cPCc2SdTWUu-2F= n4Y1ymogrdlszgI8uGBR9DNv-2FCWCNyd1i8u8dNKpG7wkXJ50opAVf26ZVV9R2DoHEEPrj6s-2= Bi3YwV525W5Lyb7TlSLeLT6eBbj3xQdQWKgSnrFif1YHG-2F09G7ecWDbJEZxUNdpzP24X6AUs6= nJlbsr62D4HOwb3EOOj7qZztZh1fkpCkhl99h-2BmrhMfTP0sDf" style=3D"color: #1D508= 0;" test=3D"" universal=3D"true">Nourish</a></b>, the operator of a telehea= lth platform for nutrition-related chronic conditions, secured a $100 milli= on Series C led by <b>Menlo Ventures</b>.<br><br><b><a href=3D"https://url6= 380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmbkOlf2moMI7ruqplKzn7fQ-3D-3DBErc_Pr96= 6knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8= OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV= 3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4= VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9= MyIAMpUR3DlxxYQVAqi3NBSDJ6eWYumq9w8Yd3neSKz6WU44fOr2wz8crKXDSBVXzn8Fnv5x2WJ= xiO4-2BUanZ9JCPv2d8w67tIK1ySvO2emsq8ylmQk-2FgLU4SkdHw2UnsII-2F90MJKAI58h4di= 0KRIaPZdX5mHMaEJVYtTosssRqIqZ091DbZzwYjGEuZCmf1DEbrim6VS5CNPdQTWvKROBEuCmhC= sMQu8JFPDXMIwgB9yHCWoPNIE9ZMqgqz4ceXd10VVsDXgq3SK0-2BEv19qT-2BfLz" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">Commure</a></b>, which devel= ops AI for healthcare administration, raised a $70 million round led by <b>= General Catalyst</b> at a $7 billion valuation.<br><br> Milan-based legal tech startup <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmpeJKpe2d4I8ECom36Tm6lw-3= D-3DsIqi_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmf= j2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trx= E85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3Wgyr= iLU-2BMh3eiF9MyKjoGb2lQW4AnyeINVLs9NW0ZDJu08umZO0s-2F1-2F3LiQEr4KDzsfuxUOho= CHjPjXquLif8noZjWn1-2Bu1c-2BLJlSCyGnS-2BUj-2FNADQlwH1lOuXoG27CTYToJ8WSPl6lk= OUw0h-2BQVy3NrtbOg4WppVdAHyo0i5Enp8iC2nxRD0B-2FAKvfU6DQ7-2B58B-2Bo3qr2xbLbN= UGzSgODIamn8Vx1PsyqoaBqkKWwiUMY4AFsn1SkeaM5WxlRvTz0o79K9js2D8024ZZwXbL9YXNa= 2qsBDjpKdV10R" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lexro= om</a></b> raised a $50 million Series B led by <b>Left Lane Capital</b>.<b= r><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmUcyv9= 9f4OXRR1hef6IkhZg-3D-3DQine_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy= 8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1B= bH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJX= KMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJ759wSFB73irD45uLF87q8GkfhKkQd8AOBHI9rcpf= zVBQfLGskxXpzOWI9-2BGOtwgVXhhiXKgHTG634zCib4-2BCHqMD162dBt-2FGVRo7io2564CPS= SUMRqyow14oLG88B1ossDFK2SJKuSGlKRAQ9k-2B0uw6NWWkD2czikMWRTRaMBfdYb-2FTkoQFq= WkfXJt9K9xu3RHv5kSCjtMc-2FjlGKhzTRvqa99u5qUmHE5ayOZmluC8DEjACbQwaD-2BTFjZEf= N-2FZIaM8aUKtVG-2FFFEuxA7zbIWk" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true">Relay</a></b>, a fintech startup focused on small business bank= ing, received a $50 million investment from <b>General Catalyst</b>.<br><br= ><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsm1aKbldlg-2= BTmW4IMiQ9bp3w-3D-3DnfeE_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oR= i8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5= XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMP= Lxadnpm0iJT3WgyriLU-2BMh3eiF9MyLM9EqM3nW0jDAr68DWDl-2Fhk7kcd-2BMcFSbVSYXFzs= WfO6h39QR-2BLk7LhdyiWhz2W2SUa6DDbtkSVJagH42mnG0A6NTvt8h-2FozIUpk42Ex6w0eI1l= U0SnwTQ1IZ4jaybrfm8G-2FbeTXo3oHEY4-2BTltB7GblvrCEj7p1X6DrkGkrDVKsoKh2TDStj-= 2FWVGtSTD2-2BjJYoxj44QgDQlcN-2B87WLEp-2F8kvisApiUzt0aHBEQvXkcExEdzh2WUKGdju= u6N23bY3criFyYCnIyHILtgN8II80" style=3D"color: #1D5080;" test=3D"" universa= l=3D"true">Cagent Vascular</a></b>, which specializes in technology for end= ovascular treatments, raised a $41 million Series D led by <b>US Venture Pa= rtners</b> and <b>Astoria Health Investors</b>.<br><br><b><a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzUJ4cDF32yFMNpo9TPxVxsmFr6t-2BNLD8thn0qp5vuWrvg-3D-3Dg= -9Y_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24L= ktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrM= pc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gk= tpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2= BMh3eiF9MyIF2Eddd122VJu2dQA6L7oL5E8NC-2BW-2BMg2m35lvDZeLqqfFqeEjFzjYM-2B5uV= B4vPN6OYlM2-2BGOzk097zpKGbxIlx6lw12oGSGP7r-2BfA40NBKGEej-2FTVWxaT-2BPYMIaLd= aCNsRB-2FtAbtNIJr9auIAB6z08yDI-2FCo1zA3tiVqCY9PuNYmL7RT33qb1n5HN9Fs2Po2w4YO= kDB8bLsfpx5TSZrvGsjWthZlr5cf9GFd4AoTQhCgpI03V7vbd6zl1DTMMH51g9cIyXp8YKZBYox= SLn2ph" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Dust</a></b>= , a Paris-based startup helping businesses build custom AI agents, secured = a $40 million Series B from investors including <b>Abstract</b>, <b>Sequoia= </b> and <b>Snowflake Ventures</b>.<br><br> Berlin-based <b><a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzVdHa9PkCPmGdDoNjee9IOy2QEE0sE9ogOiiiFQr-2BwCOQ-3D-3DqE9L_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8Oli= gX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5= glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxH= h7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJ= uX53mnSTBQGGS0h2DXrwPfaVg1OBHEIIVtj7ZQ-2BYA67vb3SjwsezJ95mFYdULGkJxztMU06pP= zgptZGxkMQsXGvET1IG360T3nHl5004dRfc8S8osHMGuw9jvodLgNgfuPFkChbyXVJWrZpb0mPV= dB-2BiT36yUKybX2lE2NTag-2F7-2F9d51F2lZNt37oxGd3ZfT2mb9mzxOppwZiYy2p83H9L6YW= oqblPIMObxhNMEg9mQ0UE0mLhEzsE-2B7Xe5DxqWTJGRq1mVbNCDXBRWqy3N5L" style=3D"co= lor: #1D5080;" test=3D"" universal=3D"true">Bunch</a></b>, operator of an A= I-native fund operations platform for private markets, raised a $35 million= Series B led by <b>Portage</b>.<br><br><b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzVdHa9PkCPmGdDoNjee9IOy6K-2B-2BdA3buR0l4a6nDgrYMw-3D-3DIwqX_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX= 9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5gl= RMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7= NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJMZ= 2YlcK4DAU-2BXvRkM604LWo4Klpt2jeMwuw5J3pYa03wEoffoe2sF-2BLbWFRcrEhICSJ0Bgmd5= tVg-2Bo0wlFeaFBVcQuKI27BvjSLr-2FbrnBS5C8K3MeQfECyo-2FZ-2BIpm0KgONvx5G16r-2F= QdL6cg-2Bl8rsmcKwhH5fHTDgJ9i-2FIFwDBPTMnU-2B69g5mS-2FJKTFw9hpJgqPfFI5acGnuf= H6po8cTk-2B-2BXcRiiQue4TeXgqrT8gbhYJnfA9yTWkn2ccqEb3Fk-2Fc1PNmhMQTZKGILZGgU= G3N" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Scope</a></b>, = a London-based provider of AI-enabled industrial inspection software, recei= ved a $20 million Series A led by <b>Index Ventures</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>KKR= </b> and <b>Energy Capital Partners</b> are considering a revised offer for= <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOyNyJxLQOL9o= Wz0Ev75WCqVw-3D-3D1TjQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI4= 3kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8= WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5Xc= M8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLx= adnpm0iJT3WgyriLU-2BMh3eiF9MyIMw1N7Mgmx5b0YmZyGKeHcGDswOUqT5DW6SbY96EfPOE0Q= 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gluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyL5dtT0qJ3Ea5U-2BUTzPymXPlZpi2kw9RzE= FoGmMli1v0-2Ft7LvBi8LEwbGXSyQPgJ1iN-2BRD-2FW6kqHvxqBwXWyKrzki8Fod6gku-2FlLa= QaeuOlVPwg-2BpWTKcBwHv0VMsIXuQb731expv-2BPStCi9ezorwIEwB4QdFDSxzvb0lexRtUSj= IoV-2B9dlSZq1Vkz3qeWY6UO5vvs0jfB-2FWxJ-2FOQy8WPP1aoV0JL0BPpDYPzaPofXd0DfoM3= hJbEVIO6Zh-2BDz4ODTYGWXZoluOZcKKO5w7OzWw" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">PolyPeptide Group</a></b>, which has a current market= value of around $1.6 billion.<br><br><b>Arctos</b> agreed to acquire a min= ority stake in the NFL team the <b><a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV= dHa9PkCPmGdDoNjee9IOyC-2Fdswjb8r6wN5pmopo3TAw-3D-3Dy0aQ_Pr966knuaHmaw6c7pKv= B-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELE= QODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5= -2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh= 2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyLzBnyzmL6EYvs= 0wCFpoGEzfYh4x-2FkvrzFpDWXUHHC5Yac5kFRFK8DtwUXdePKVSvwx1qzgB-2FsNKq5FYSq7mo= EWeY7L4vQ5nZ4hNs5wBabuNlDpRBLuMTm2E5fpq8nidz4GRUZfUB4rr7BGCygpodOy-2FlvuvvG= 2hZMi9M3PsYB3T-2F-2BkKeHl9yheany7rZnjK2ZwWs-2BP2N-2FbsL-2FwDdEUR5h11L-2FDwK= NDHfjA9YuusBNe7FpUlx7-2Bzu9Y757-2B-2FiQDzClugtR-2FQcpl9rSnMkfLWk1j" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Cleveland Browns</a></b>.= <br><br><b>Align Capital Partners</b>-backed <b>Marco Sealing Solutions</b>= acquired specialty sealing products supplier <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOywFgz04KsUqWJXF53DFLYcQ-3D-3DQ2DP_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8Oli= gX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5= glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxH= h7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyK= Ft1sO-2BohRhE21aVRtwWNwoN3Xeg9ki2Q-2BVWebMyNVJ2LnzIJBTHeRGITGxqzzqxNm9Gbl9j= NxANm3PaYmLdXDYBz5zkVlSGXJSHnubEfeQqKoRsAZ50cSBTyUnl6L4MksgA8EZ6DvJ6S8Ubl9h= urYL9L-2FworB-2FaPGyIZ0dmGIviqDYM4rB902kU8S5C-2BLD6SGEk25owBe-2FkkS-2B2dW2u= 3zPveJVdj0AlqM1Q9kvrEPCT0aYu4Yf1LYlrfalWAU1-2B2MlDSY5LTg14ZIeBIayYlj" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Pride Seals</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>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>Sch= ouw & Co.</b> has set the price range for the Copenhagen IPO of its sub= sidiary <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOyw= fdUporbkz5XeRJXA1J1UA-3D-3D1Za-_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5Z= czTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34k= VP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgl= uIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyI4UxHRuyT3BUQsg76TDH7Y7IulYs4WurvJIun= W4TsM6lc3U6dll5uBrvfoexiJsr1HhUwba4QhixicqhkRTr65hXVS4h5zC-2FhZDKtVNwXy-2BL= HnPjn3kWQ7T6oPo5gouUkbVZmQYyYSaIVT08GyPHqNDzF-2BU37mWyaIkLWtsjyqLMLK1H8z3tc= P9CGCCQIz5Brgs4B-2B-2BbN9UX9ZaJr5wGSTdsTWqlH11BaaWJX5RzS3be3rogUA31CSqiHlAh= PYcF-2Bp6-2FoWZ6UQzhBnCwyAKqPj" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true">BioMar</a></b>, a Danish fish feed producer, in a listing that = could value the company at up to $1.7 billion.<br><br> Nasdaq-listed <b>Analog Devices</b> is in ta= lks to acquire <b>Fidelity Management & Research</b>-backed <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOyxBCN9Ag8Pm2Tqt15-2BhL= 4OQ-3D-3DB4Q7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U= YA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nL= vpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah= 00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT= 3WgyriLU-2BMh3eiF9MyJ2yc-2BobiLTlQQcTioX4kTD9l70qlcNDallacV8gc3ZkFTiLoa3ls8= ydAH-2F-2FaIctqPp5qFsR50mrqV1ehdDOJvMWAffAAWUEu8iQUiqyC-2BNKXEGpn7mPR9bplPI= myXRaaGpWj5tdYsH9lk7ha8R-2B2ubI2rtnNHMigJwue1pjP4tuezcIuIHikmD6XU7edm9GZIeL= oa5BSsCjA8k8Rr4fmy-2Fc3jgdzTSkT6zkexUe9jHHBb0wJt9lLIgCYSBv0mlJ8Vw6g-2BNJNfk= PzkPVUeDSWQb" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Empowe= r Semiconductor</a></b>, which makes chips for data centers, in a $1.5 bill= ion deal, Bloomberg reported.<br><br><b>KKR</b> is selling its roughly 163 = billion Japanese yen ($1 billion) stake in chip parts maker <b><a href=3D"h= ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp= SWIrf6GFa-2BaqM7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOyMPm-2BGmR8Jeev0MNxJT-2B8Sg= -3D-3DVoSH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpm= mfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00t= rxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3Wg= yriLU-2BMh3eiF9MyJAZ2BklqDi7PIxe4YQXgrH3nYib2Nho-2Bf8Sp4-2BvVx6peQu2ay3oj-2= FH6JFt3O2sA0cH9ESo1edOhNpWvpdWDoEWgy6smyVCchqmqpSFL6M-2B9mVnds5-2FAc4YRZCVo= X8zPXS1nREJDE6cSb0kg8V9PUlzzDVnqRgWiGG4ABP-2BY02fTVOTLug1rdzGUdBILBUWMsqMyu= TWr3pyeH4Fh0OVQvHw0HSbjgt8g3nvBcUST5tC5X71Aadkg3V0J34SGNWKByhD4Qezu-2BwSaZj= k0SUvamz3" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Kokusai E= lectric</a></b>.<br><br><b>Intel</b> and <b>Qualcomm</b> are interested in = acquiring <b>Fidelity Management</b>-backed chipmaker <b><a href=3D"https:/= /url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6= GFa-2BaqM7ONnvsnswouzVdHa9PkCPmGdDoNjee9IOyZv54b7qzvgfugunc70yFUA-3D-3Dta_P= _Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktS= lXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3= XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpR= pVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh= 3eiF9MyKp-2BuJHW-2FZ-2Fj4EqTuMkDXvn5Z0GVYjF5m8LjrHVzWY9109Niap3GsiXrMic7d-2= B4S-2FU-2FTrOHRPzno5FOzwyUNukLu-2BvPrO2bWigM4QucfThZ3GKKcmqEE9lh-2FcIaXyeHk= 6vPEp2p42tQGLGwpgB98FjN6WgXeI4RAg8rL-2F6nt4swmDtqLIeTd85HNKjdtovqrepXupEDeX= kGwjgh6OEsURaYW1FCegvjZ8en4N0pibPqVA2QpnvAQUNp6mKiFVAlQ2w4OKhduvGCjZKqs5GqT= 1o0" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Tenstorrent</a>= </b>, Bloomberg reported.<br><br><b>Cohere</b> agreed to acquire AI biophar= ma company <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWYOvD-2FNppdaf-2BmSQWp= IBRVIKQc95GH3w0VnycrPMtq8Q-3D-3DPPXY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y= QP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9= J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQ= JV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3= fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyJKh2UkISgXG5NDQFLWf5jg5n9int2Dgw= B-2FQ40TkYLZY8es0oXeWjGla-2FWyE-2BimazkFIqdjZNwrljJv-2FTDyppYspCkayvTtORGN3= wTw7Toytx5x3TiGfKCRAC7cwGL0WcnfVhwOIsPjSfXxdhzNTjJlc-2FDtF2l3A8zLKEvIxmWzr2= CEM6Y7Ninjmo1bH9CED1U3DiZ4bTCqEHBV9Bti6rweoGiY49MiGYSMkdDtnAWDwLKDBnEcKEfK0= gADGADSIfHg0YY9OHtPWnKXwOTZi4Qb" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Reliant AI</a></b>, which is backed by <b>Inovia Capital</b>.<= br><br> French LLM developer <b>Mistral</b> agreed t= o buy <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWYOvD-2FNppdaf-2BmSQWpIBRVQ= uIjssFSHEd1jXYKqiczfg-3D-3Dxv5U_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5Z= czTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34k= VP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgl= 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The target company is backed = by investors including <b>3VC</b>, <b>Speedinvest</b> and <b>Serena</b>.<br= ><br> China-based physical AI startup <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWYOvD-2FNppdaf-2BmSQWpIBRVwn1WdxO3CcuSrGfCr= -2BYtPA-3D-3D13B7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR= 55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOg= S0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm= 0iJT3WgyriLU-2BMh3eiF9MyIddJyKvQJpN-2BlG6jIUlQChkcK4KSGpdRBjcIWopoxKqSMmeFQ= HLG9PFZK9q0QKP-2BDts7nEbeXllqGSH7Gd7BpCb4sK3B3yIa-2FRru93husb3uc2TJK7FRsAfb= CiRgN3nbWl6n-2B8dWxv0OtEfMEChTHi5fWHUTIfD7cvIIfqzF1OVY-2FVK47xau1yQExAheHa1= mpAwbDXRWn0PmRFfYnQyMGudAi0kgQz4HjclMHQqIcratqsC50dKa6GJn5aiATuPwyZtF-2BYZh= 1gW3DNraAyi2yx" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Link= erbot</a></b>, which is backed by investors including <b>Wise Road Capital<= /b>, has hired banks for a Hong Kong IPO, Bloomberg reported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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;">London-based financia= l services-focused VC <b><a test style=3D"color: #1D5080;" href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzWYOvD-2FNppdaf-2BmSQWpIBRV4BiC0kFhJPHEQhizP1julQ-3D-3DO= Lhr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24L= ktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrM= pc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gk= tpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2= BMh3eiF9MyImEXZD-2F0tgbkZ4FlQQlT4MUxaX-2FtF7zGNy3V9A5nuuwbPAz-2F5f9VE09To3V= gkikz0wUwNTk83q89mWe5pItKkAOTUZltNwInb3DSXxZ-2FXeWCcsCFS0VazSJPlIXcLIsnTg-2= BO0n76jMAUldOt-2F2Revc2SBsPPEXvuc-2F5wn3q2MIvpF24LmSaZBH-2B-2BmZ24Z-2BJXvn3= 9vC4uSqS1rIVF-2BDlLJ6Hb8y7c8FxC-2F1Dq60wimpetoI-2BQUPoJhkwThWMNhQxG68nHqEIe= vpn2HxQ0g6bjnN" universal=3D"true">Mouro Capital</a></b> raised $400 millio= n for its new fund.</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-2BaqM7ONnvsnswouzWYOvD-2FNppdaf-2BmSQWpIBRVhPnep= DTbqgCxyar-2BoaJh5Q-3D-3DxtbY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5Zcz= Ty8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glRMznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP= 1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7NrBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluI= JXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyKYfMAtUpmx-2FgVg7FFekLbcObhAjvM4Tw3QoRy= JluXVz7X6ZSIlIWVK1F-2BqaS6ydUAjZ72j4RykHBebc2XjjXNfXXXeDiUi0VkdLcbs-2B-2Bzq= j9tdoUo5riD4Sf4-2FOjpKIl9NaH4GL3EFRKAmS1-2FoY2XXjQfM6ZeaT6q7dQnL136-2FUR0Jw= XSSuPrt2Yq0o-2FOVw2aq5huarENWVZSLyxrTTGfyYRvdbFEWnwpWvURUlIarVQREtJcdd8MRYD= x3Y1G47Y-2B5MOXVvUeKSYbGNB7atysI" universal=3D"true"> <img align=3D"center"= alt=3D"" src=3D"https://img.pitchbook.com/news/74409.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">Q1 202= 6 sustained the strong M&A momentum that characterized the second half = of 2025 in Europe, posting a 5.3% quarter-over-quarter increase in deal val= ue and up an impressive 42% year-over-year.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzWYOvD-2FNppdaf-2BmSQWpIBRVWRpaDCV2BA5GZGalFIUqjA-3D-3D2vj__Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR24LktSlXNF8OligX9= fnTjB7ELEQODGFMjrqaBdmdLIud9J4A5ZczTy8oRi8WXUUR55nLvpmmfj2KrMpc3XMHiV3G5glR= MznrxmRL5-2FZOOONtC3KyrDVFlQJV34kVP1BbH5XcM8rOgS0ah00trxE85gktpRpVJy4VxHh7N= rBQwUQAGh2TPAYLm6zL8Uip6B7V3fTEgluIJXKMPLxadnpm0iJT3WgyriLU-2BMh3eiF9MyK3Ng= W7uZ96B4VRm6AOc3E3Ln9Xxj7lMBKgkD-2BT-2F6YSwuGuaGm6XQwEkGZkevLY479-2B6zKU6RG= MYskd3gtovl61O4Dg2De2aAOQ2giLNOsgvHW6XpYfJHA07UAOqhJd-2Fi-2BxkY7zNK58JSRfce= gBRnrKEW08X4TtjVl2UpF2UnMa9AWeZth2cldMN-2FMnN-2BckgZTVzp7uFFMrXo9jpMJyQx8D6= 3BvyQlYyaf-2FS5dOr08inG2fCn5-2BB6TgZJavWuV-2ByjmmdQpkolD-2BI8u-2BQFPvTvLj" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Q1 2026 Global M&= ;A Report</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; 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