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<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" style=3D" font-family: Whitney, Arial; font-size: 14px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"font-family: Whitney, Arial; float: no= ne; "> <tbody> <tr> <td align=3D"center" style=3D"padding-bottom:= 12px; text-align: center"><a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXs4TpgTfk= sYiiC7eYbmI-2BYjkj9hSZtNrKBIz1x4ibcOg-3D-3Dsqjb_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BW= l8r2mp9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10= 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min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top">Ask inv= estors inside and outside Europe what is holding back the continent's VC ma= rket, and most, if not all, would say a lack of pension fund participation.= <br><br> Unlike other markets, such as the US, Europe= an VC has failed to bounce back. This year, deal activity is projected to l= and at its lowest level since 2016, while total deal value is unlikely to s= urpass last year's, even with a boost from AI. Despite recent signs of impr= ovement, the fundraising environment remains one of the harshest seen this = decade.<br><br> Geopolitical headaches, mostly tariff-relate= d, and slower economic growth in EU countries this year have affected the a= ppetite for VC. Yet the continued pullback in activity underscores a deeper= issue that Europe has been struggling with for a while: a funding gap that= can be traced to a lack of deep-pocketed institutional investors.<br><br> I'm Leah Hodgson, and this is The Weekend Pi= tch. You can reach me at <a href=3D"mailto:leah.hodgson@pitchbook.com" styl= e=3D"color: #1D5080;" test=3D"">leah.hodgson@pitchbook.com</a> or on X <a h= ref=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuyl= w7SpSWIrf6GFa-2BaqM7ONnvsnswouzXs4TpgTfksYiiC7eYbmI-2BYrOWRnednWAYXR0F3yY-2= F-2Fbw-3D-3DGIYb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FAjeE3fDi-2BO8= eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq2pmCiYh0fWRO= 3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44ldzUzwI-2FGJy= 7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27Rvf6xVpYq4E6-2BY-2FAt1YSS2jZF= OsxFWYJASPz5d87VzGZ6vQXp7Cs5ixrDHXrbVMJNOUfW3X0Mg3oFkIs-2B8zkV2kpNERAjwsdS3= sn2ga-2ByP5jmYI-2FXY8vMkERTzENuhPMidJLGRbohvnv6LclEb2YcJv3QV1uRsH6aYzrDSsuk= u9a8lLnawboQJc8sBq0I-2Blj4fAFq1D4ohwAPgu01H80-2F6ljJtP-2FQyaSPAAvwyFPUEjPTu= JNXd4hjbFbLHfYSiu-2F6Q-3D" style=3D"color: #1D5080;" test=3D"">@LeahFHodgso= n</a>.<br><br> "There's a chronic lack in Europe of the typ= es of LPs that you see in the US," said Kinga Stanislawska, founder of Euro= pean Women in VC and general partner of Experior VC. "Putting 1-2% of pensi= on money to work for venture would be transformational for Europe and the p= ension funds themselves."<br><br> Despite pension funds across Europe managing= over =E2=82=AC3 trillion (about $3.4 trillion) in assets, only around 0.12= % is invested in VC and growth, according to a new report published by Euro= pean Women in VC, Pensions for Purpose and Venture Connections. For their U= S-based counterparts, the allocation is around 10% for PE, including VC.</t= d> </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"line-height: 1;= "> <table border=3D"0" cellpadding=3D"10" cellsp= acing=3D"0" style=3D"min-height: 60px; min-width: 100%; border-radius: 2px; background: #40C2C9; border: 2px solid #40C2C9;" width=3D"100%"> <tbody> <tr> <td style=3D"text-align: center; color: #051C= 38; min-width: 100%; padding: 16px 36px" width=3D"100%"><a class=3D"customB= uttonLink" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXs4TpgTfksYiiC7eYbmI-2BYjkj9= hSZtNrKBIz1x4ibcOg-3D-3Dd9bB_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3= t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FA= jeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq= 2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44l= dzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RsuNLRCptO8RPpxIc= 0yGz30ddQQk2GDF2OJ2b3gen3UV9A34Chias56QSFuy3aXyHO-2FwshFhp4SDoW2N1alCiHJv9j= BXFbXfkUwM9sufNHrIxfdNAiqPU6ZJ-2BRE5ump9plZ4a5mhoWFmeG2Btwa4Bif9tWUPJuqEZ9a= 2xTCwImKsaYb-2FLWgBsyr2p4WqEPoTatJl-2B53ZMGgiEuwcX0pua8fQA5riG2x2-2FSl6YI-2= BQuCz8rNXTLXs4MM3hTR8Nf-2F9EUk-3D" style=3D"display: block; font-family: Wh= itney, Arial; font-size: 16px; font-weight: 700; line-height: 24px; color: #051C38; text-decoration: none; text-align: cent= er; min-height: 24px;" target=3D"_blank" universal=3D"true">Read more </a><= /td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 10px; line-height: 10px;= "> </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> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td> <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D= "0" border=3D"0" width=3D"100%" style=3D"background-color: white; min-widt= h: 100%;"> <tbody> <tr> <td style=3D"width: 20px; min-width: 20px;"></td> <td style=3D"padding: 10px 0 5px; font-family: Whitney= , Arial; color: #78766F;"> <table lang=3D"x-counts-title" cellpadding=3D"0" cell= spacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: white;= min-width: 100%;"> <tbody> <tr> <td align=3D"center" style=3D"font-family: Whitney= , Arial; font-weight: 700; font-size: 18px; line-height: 27px;= color: #1D5080; padding: 10px 0 10px 0;">Since yesterday, the PitchBook Pl= atform 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: 32%= ; min-width: 32%; text-align: center; flo= at: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Kepler, Georgia; color: #051C38; font-si= ze: 24px; line-height: 32px; padding: 5px 0 5px 0;"> 6 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Whitney, Arial; color: #78766F; fo= nt-size: 14px; line-height: 22px; padding: 0px 0 10px 0; -webkit-text-size-= adjust: 100%;"> Deals </div></td> <td style=3D"display: inline-block; min-width:= 32%; width: 32%; text-align:= center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Kepler, Georgia; color: #051C38; fon= t-size: 24px; line-height: 32px; padding: 5px 0 5px 0;"> 68 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Whitney, Arial; color: #78766F; fo= nt-size: 14px; line-height: 22px; padding: 0 0 10px 0; -webkit-text-size-ad= just: 100%;"> People </div></td> <td style=3D"display: inline-block; width: 32%= ; min-width: 32%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Kepler, Georgia; color: #051C38; fon= t-size: 24px; line-height: 32px; padding: 5px 0 5px 0;"> 26 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Whitney, Arial; color: #78766F; fon= t-size: 14px; line-height: 22px; padding: 0px 0 10px 0; -webkit-text-size-a= djust: 100%;"> Companies </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-counts-btn" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"height: 5px; line-height: 5px;"><= /td> </tr> <tr> <td align=3D"center"> <table cellpadding=3D"0" cellspacing=3D"0" bo= rder=3D"0" style=3D"line-height: 1; border-radius: 2px; background: #FF= FFFF; border: 2px solid #051C38; min-height: 60px"> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter; padding: 16px 32px"><a href=3D"https://url6380.news.pitchbook.com/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXs4TpgTfksYiiC7= eYbmI-2BYedcLBep1pAOhxgwi2b1Kiw-3D-3DAXF-_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk= xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp= 9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3U= cjBFyFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3h= Pi174e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RsGt= PyQ6dF3stR0i7GNgICL9VsW4NIT9HSiOqN7-2FmPx9J9tXDLW-2B7Rbtbaxiep-2B9TkAniIT3X= pltzjfet6Bqd-2FeZFboZREMAzqJIW21jTH1WQvDi3zjjBvR-2BMhm3DeCO-2F4W1IvfTcB1r4P= am-2B-2BvkB4dlWcgvtL5ypW62I5WKVl75iitu2-2FNiyXoqblNjSHtj0YME26ev-2BV9iZX4Dg= R9KE7KaN5ivl0PBsZQU2G5wE4O1fYj-2BWhrTcvBpAlHWGxKb7Q-3D" target=3D"_blank" s= tyle=3D"display: block; font-family: Whitney, Arial; font-weight: 700; font-si= ze: 16px; height: 24px; line-height: 24px; color: #051C38; text-decoration:= none;"> See what our data software can do </a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> <td style=3D"width: 20px; min-width: 20px;"></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-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: 15px 0 0 20px; fo= nt-family: Whitney, Arial; text-transform: uppercase; letter-spacing: 1.5px= ; color: #051C38; font-weight: bold; font-size: 18px; lin= e-height: 27px; text-align: left;"><span>A message from Arcesium</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: Whitney= , Arial; 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 25px 20px;"> <a na= me=3D"n_573504" id=3D"n_573504" 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: #051C38; font-family: Kepler, Georgia; font-weight= : 700; font-size: 24px; line-height: 32px;"> Why data quality matters, and = how private markets can enhance it </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: 1= 7px; font-family: Whitney, Arial; 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" style=3D" font-family: Whitney, Arial; font-size: 10px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"font-family: Whitney, Arial; float: non= e; 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-2BaqM7ONnvsnswouzXs4TpgTfksYiiC7eYbmI-2BYoZPEs-2FeaPOi= uDWchuT5xQQ-3D-3DSfTT_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FAjeE3fDi= -2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq2pmCiYh= 0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44ldzUzwI-= 2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RuxBF1CCjCJEimy21hDkPqAx= RRtB49IfDK0y7dF8Z3DfZ3EKzckZ9HUpV6IzM1xBRVUe9GoOzKFK-2BupJvBqIm10PmVBWKRqGp= Qca3GG9yoIJUUqHcLAeEQO4i-2FtmUnPc29zrVBCuuZysYxM0XB5ArodGsYjd1Sf7rmi-2BF5zB= AbdcvmJzTlwMtbDrHmHrNjfryiVNPTdYybjdLZXIMsSyzJUKXs-2FoSCaF2vEThnDwM9Ynrwo-2= BVj6tTe0OXBRY-2Frlj2A-3D"> <img align=3D"center" alt=3D"" src=3D"https://im= g.pitchbook.com/news/70747.PNG" style=3D"border: none; max-width: 420px;"> = </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table>As private markets continue to grow i= n scale, complexity, and investor scrutiny, so does the volume of data. Dis= cover the vital role that data quality plays in credibility with investors = and how it can help firms capitalize on opportunities faster with this guid= e from the financial data platform experts at Arcesium. Start leveraging da= ta as a strategic differentiator by learning Arcesium=E2=80=99s five pillar= s of data management, helpful tools, and more.<br><br><a href=3D"https://ur= l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzXs4TpgTfksYiiC7eYbmI-2BYoZPEs-2FeaPOiuDWchuT5xQQ-3D-3D-16I_I3= w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-= 2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uq= w9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-= 2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgW= ifv2H66rg-2BP1qkFxAHIeWiL27RsSV7g4EZ6gIN-2Bwtfbgx2Sd02QLtE-2F69AIpvE7xhSEaf= ZDN4lXxmnobvtJ-2BMo2coIsx98zBI7-2B8JTpx4owuQH1ZLa4mwJOy4r-2BUkSX0vQ-2Big-2F= 53Bay3UGXnmGu3uy1VX6Pa9H2ltewZ4z1sjkSj3-2Bj2J3GzucgtFgvDBGa4DG3tXYC0t-2BU3A= 4nEvoGz3rhq2zR7cX-2FZjT-2BW3EDtCn8g18sXojpXjKqvOpUi7VbNIPDEV8zkrfqW9w7pDHGd= zFsT6-2Fs-3D" style=3D"color: #1D5080; font-family: Whitney, Arial;" test= =3D"">Read the guide</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: Whitney= , Arial; 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: 10px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;"><br> <center> <b> <h2>Trivia</h2></b> </center><br></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-top" cellpaddin= g=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table lang=3D"x-image" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" align=3D"center" style=3D" font-family: Whitney, Arial; font-size: 14px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"center"> <table cellpadding=3D"0" cellspacing=3D"0" bo= rder=3D"0" align=3D"center" style=3D"font-family: Whitney, Arial; float: no= ne; "> <tbody> <tr> <td style=3D"padding-bottom: 12px; text-align= : center" align=3D"center"><a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1S= hqQhR8wRcK4-2Fl8c9VXuA2fY8apqrCZQp4xg-3D-3DGcpE_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BW= l8r2mp9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10= AceQ3UcjBFyFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLD= qf4s3hPi174e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL= 27Ru2E-2BuOaJ7uAn-2B0GA6PwSDYdavYkjNDj2Yz8cyMkUmbDj-2F8PUzsYjwxoRi-2BnUbXBt= kmOiOAfz2ZNh5uQPuiYSuUm20s-2FJrX1Ag40bvK7t3xSbSND1eg7vork7oXoB3gHcY8vmvMIZU= Q04zT2SIZCEjrqLq9alYLA79vytas1ZA7KL-2FPBFTUiHCupPfksGgWslqTRga0gmIuVnM36Kan= Up4u3tie6SyZKXFcUYpxWTLxOfLh8oO7o3hIXPywdD6QTYQ-3D" universal=3D"true"> <i= mg src=3D"https://img.pitchbook.com/news/70765.jpg" align=3D"center" alt=3D= "" style=3D"border: none; max-width: 420px;"> </a></td> </tr> <tr> <td align=3D"center" style=3D"text-align: cen= ter; font-size: 14px; line-height: 22px; padding-bottom: 12px; color: #7876= 6F; font-family: Whitney, Arial;">(Mike Kemp/Getty Images)</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 10px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;">Sovereign wealth funds= are ratcheting up their investments in generative AI with 2025 breaking re= cords. According to PitchBook data, across 59 deals how much deal value hav= e sovereign wealth funds generated within the AI space?<br><br> A) $27 billion<br> B) $59.7 billion <br> C) $43 billion <br> D) $34.3 billion<br><br> Find your answer at the bottom of The Weeken= d Pitch!</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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> =20 <center> <h2><b>Can Discord's next level<br> win over investors?</b></h2> </center></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-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" style=3D" font-family: Whitney, Arial; font-size: 14px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"font-family: Whitney, Arial; float: no= ne; "> <tbody> <tr> <td align=3D"center" style=3D"padding-bottom:= 12px; text-align: center"><a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1S= hqQhR8wRcK4-2Fl6XEM7bHbowProEfLFvCLXQ-3D-3DKnG5_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BW= l8r2mp9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10= AceQ3UcjBFyFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLD= qf4s3hPi174e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL= 27RsDPsSAJLYTjO2WOz2axl8SH2-2Bqr-2BqKo7XBEqCe-2FGB3Znl7p76nb-2FFculfnz7O1Yg= EhU32yA-2F7-2Fb-2B4c1Pr6fGe7g7sSIqHPgk9Z5w6GSiTTblDXsh-2FbHdId-2BhDskiG4qg-= 2BqDbM28EkYxqY3VSDjjfpvjBfeLLryJT9p3ri4LFQ1Nlf7MZXBuJcX-2FgTqnsvz5zwb21TLOQ= XSi-2FmI2ar6s1lGouVqfuoUBuLvJT-2BEbMxsPi3lo1VL50Yq2686taoHA-2FI-3D" univers= al=3D"true"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.co= m/news/70809.png" style=3D"border: none; max-width: 420px;"> </a></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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top">Discord= is gearing up for what could be one of the most significant IPOs in the ga= ming and social communication space since Roblox went public in 2021. With = more than 200 million monthly active users spending almost 2 billion hours = on the platform each month, Discord has become the go-to hub for gamers and= online communities worldwide.<br><br> But there are challenges on the road ahead, = according to our <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK= 4-2Fl6XEM7bHbowProEfLFvCLXQ-3D-3DPfnf_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZj= XP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBF= yFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi17= 4e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RuuD1bqW= hRBbMnE9MhovAt6h9lnQrsXx1PagRSBX0PjvxRrVm25CGheD-2BQ-2F9HDM2JrwFZSxIgQQQG65= T1EfIoTMrBj1QzQcfwdHKAadNJaGpQXLa1bB-2F-2BU7gOB47-2BWfQIPMDkws5twoc7WOjMqt5= CCCpX3-2FNR9WXSZk6pkmrsSY7oAUL-2FmES5LRHQM-2FWexYJe7izJV-2B7i-2BOSswMXLHzSK= yozEqFsOMsbdg0WMPII458qI0woDQsuOgsDBApipuBbMo-3D" style=3D"color: #1D5080;"= test=3D"" universal=3D"true"><b>latest analyst note</b></a>. While seconda= ry market valuations have cooled from 2021 highs, Discord's IPO will test w= hether investors believe the company's expansion into advertising, apps and= digital commerce can match its cultural influence and community engagement= .</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"line-height: 1;= "> <table border=3D"0" cellpadding=3D"10" cellsp= acing=3D"0" style=3D"min-height: 60px; min-width: 100%; border-radius: 2px; background: #E88F36; border: 2px solid #E88F36;" width=3D"100%"> <tbody> <tr> <td style=3D"text-align: center; color: #051C= 38; min-width: 100%; padding: 16px 36px" width=3D"100%"><a class=3D"customB= uttonLink" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK4-2Fl6XEM= 7bHbowProEfLFvCLXQ-3D-3Dmvgm_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3= t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FA= jeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq= 2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44l= dzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RtYY0YaieN8gorBJd= E4k66v3WaHhZpIR4Tx-2BKHxSHYwjdQGgMYEWhw-2BFow-2B641cYwPHtIIn3Ut-2BLiTUf3tGs= bgku5IEls1ID7zKIdn3bmpKtcJVqe-2FQzh6Ewi4Pms8aVJH9134wVamaekGzE6S7AVL3VjiMFx= ZfpPb7qZREuAYpGPnRYq8kEtsZrQKv4XpXnt5kaKxuwoZj0wRiij4MrZtJiuGp420eCmsdOe9Sc= 8NrBjV5uiy0dQmd1z4cJxwrLBw-3D" style=3D"display: block; font-family: Whitne= y, Arial; font-size: 16px; font-weight: 700; line-height: 24px; color: #051C38; text-decoration: none; text-align: cent= er; min-height: 24px;" target=3D"_blank" universal=3D"true">Read more about= Discord's prospects </a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 10px; line-height: 10px;= "> </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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> =20 <center> <h2><b>Europe's PE deals<br> pick up pace in Q3</b></h2> </center></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-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" style=3D" font-family: Whitney, Arial; font-size: 14px; line-height: 22px; color: #7= 8766F;"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"font-family: Whitney, Arial; float: no= ne; "> <tbody> <tr> <td align=3D"center" style=3D"padding-bottom:= 12px; text-align: center"><a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1S= hqQhR8wRcK4-2Fl4VIhWiFrzmZVEc8aWkFC9Q-3D-3D9h9h_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BW= l8r2mp9WZjXP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10= AceQ3UcjBFyFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLD= qf4s3hPi174e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL= 27Rvdiy7X-2Bv-2Brd-2FKNamtkiT9mibDvcoOfb5TsZbfpVSkpjA-2F1bMpJUu-2FgLd8SeCDG= CJVaHgb2QNp9srb1Vpcpn14yW-2BHvKfrR6Apvuf21oshBZ-2ByybLTWz3D-2B5g6WIzc6hJUTK= xmC0Oiuv9ayN9tde9N-2B1oI7-2Fj5XpvufcaBvD-2BGoA6Lwc8ImMqR0weORO91t0WIzKHJPIC= JaB5vQ6AsoVlaFwi9aZ57DiSx7DqWtvh2H0jI-2FyllImHff-2FPXH8pQpEts-3D" universal= =3D"true"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/= news/70811.png" style=3D"border: none; max-width: 420px;"> </a></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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top">Europea= n PE dealmaking accelerated in Q3, with mega-deals and US sponsors driving = the continent's growing role as a global hub for the strategy.<br><br> Exit activity also rebounded=E2=80=94with ma= jor continuation vehicle transactions and middle-market deals providing muc= h-needed liquidity as LPs push for distributions, according to our latest <= a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK4-2Fl4VIhWiFrzmZVE= c8aWkFC9Q-3D-3DfQ7__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FAjeE3fDi-2= BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq2pmCiYh0f= WRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44ldzUzwI-2F= GJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RsbMtfcqqj-2FEmoYEzMEVTrAM= aOfcbm5WKMPesnJzkIU8Z6cRpkdYz8-2BDJMJE6oFNz8ifR6sYrDnwFYbC1XmKakcc5moKAFwx4= g0S4ks-2FD0kkG6fslwK3je-2FmV5nW5s5mPxBEuZOQu3HnVpoEryySllf53hTq6ZDgFsH3WGCy= fmPYz6ihZRU5ZL7NyIRXRhEq7kac4TTwbqkGyiJPo6fZlrMDMPY4RQf-2BYtjeS0RN8EPDwCk-2= Bbb3GLGoWSs1PHnlz8Y-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue"><b>European PE Breakdown</b></a>, sponsored by Grant Thornton Stax.<br>= <br> Fundraising remains tough at the top end, wi= th mega-funds under pressure. But the middle market is thriving=E2=80=94par= ticularly in the UK, which has cemented its status as Europe's fundraising = hub.</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"line-height: 1;= "> <table border=3D"0" cellpadding=3D"10" cellsp= acing=3D"0" style=3D"min-height: 60px; min-width: 100%; border-radius: 2px; background: #40C2C9; border: 2px solid #40C2C9;" width=3D"100%"> <tbody> <tr> <td style=3D"text-align: center; color: #051C= 38; min-width: 100%; padding: 16px 36px" width=3D"100%"><a class=3D"customB= uttonLink" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK4-2Fl4VIh= WiFrzmZVEc8aWkFC9Q-3D-3DWzGJ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3= t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FA= jeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq= 2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44l= dzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27Ruppul1EALAKpCuSA= DGHnk6-2FQpntI5x4fP1SMIKOLdY2RPdjhsf7-2BZI40VUqWORIjX2ySBwP6KeeAOOq28AB5JeG= iwJvpa1iUYzggu62sJdT2-2BjcWpIZlBQp6FjVKUoc-2B053PQHFJ3pCMSGtgYkt-2FLkanJTFO= d7-2BGyMVBAWH6ccgFHpWH7mWI-2FMLCLLpp4z48-2BsTJ5zIGjhKCYDJRdBd4jEnWq7DBiXBuT= ahlgvaZZtymCVsy6FNZ80yw4sJS1Ud1M-3D" style=3D"display: block; font-family: = Whitney, Arial; font-size: 16px; font-weight: 700; line-height: 24px; color: #051C38; text-decoration: none; text-align: cent= er; min-height: 24px;" target=3D"_blank" universal=3D"true">Read our in-dep= th analysis </a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 10px; line-height: 10px;= "> </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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> =20 <center> <h2><b>Quote/Unquote</b></h2> </center></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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top">=E2=80= =9CWhile luck influences outcomes, you can=E2=80=99t build a repeatable str= ategy around it.=E2=80=9D<br><br> =E2=80=94Shamin Walsh, managing director at = BAM Ventures, on one of the reasons why, according to PitchBook data, top V= C fund managers don=E2=80=99t yield as much alpha as LPs expect. Rosie Brad= bury=E2=80=99s <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK4-= 2FlospWm-2F7rITsHKSyqchR7pg-3D-3DFqWY_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRF= Cfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZj= XP28q-2FAjeE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBF= yFkb4SxBq2pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi17= 4e4Mxv44ldzUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RtpitkZp= 6bnxderTxesCtUTwc8bqahUyzoNQn7JcSXwQh75wV3Czj6tg2BG0Yi7oO-2F-2BtyYK4I9qdzt5= s0JIyFRV-2F2-2BzDCXPkImmlDP3ct9DvovRyyXq6bQEkX4OycqQEdaTjYFqncKRWYBgusXJqyg= Lt1OB-2FOUAdgncCcNdBstvInP0Qs8U2kS0sej4N1zXwiukqCEvb4oIySnabsCeGtQS8pqddD6d= eE5-2FYLkXJZbpIgz22x1qTP7FfuUcL3h45Kk-3D" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">reporting explores the latest research</a> on the GP = selection strategy and why it isn=E2=80=99t all it's cracked up to be. .</t= d> </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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> =20 <center> <h2><b>Stay tuned</b></h2> </center></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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top">Keep an= eye out for these insights and research reports coming out this week:=20 <ul> <li>Q3 2025 PitchBook-NVCA Venture Monitor</l= i> <li>Analyst Note: The Medtech VC Paradox</li> <li>Analyst Note: Impact of AI on Supply Chai= n Tech</li> <li>Q3 2025 US PE Breakdown</li> </ul></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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 10px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;"><br> <center> <b> <h2>Trivia</h2></b> </center><br></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 10px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;">Answer: B <br><br> State-backed funds have participated in 59 d= eals worth $59.7 billion. Total deal value now exceeds twice the record set= in 2024. You can read more about what=E2=80=99s driving sovereign wealth f= und investment by reading Leah Hodgson=E2=80=99s <a test style=3D"color: #1= D5080;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXEWtiPv1ShqQhR8wRcK4-2Fl8-2FsYF= otpKgPk8DODfl9uzA-3D-3Dwz7v_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t= 1yZbcbdWeUgFVa0m8PzsFbjZgXcqE-2F2XLGC-2BzNmPo5Mw3dg-2BWl8r2mp9WZjXP28q-2FAj= eE3fDi-2BO8eiio5nykFMW9DBIm5Uqw9dmi9ZtDr5-2BNtgCvguct10AceQ3UcjBFyFkb4SxBq2= pmCiYh0fWRO3yWsR6-2BozZo2iMdF-2F-2FZ-2F9-2Ffm-2B1JoYSLDqf4s3hPi174e4Mxv44ld= zUzwI-2FGJy7HzS45jjQ5WjBbN6MgWifv2H66rg-2BP1qkFxAHIeWiL27RsN7t-2Fbhjlu1eIrk= KlISzteVnGJDmzM3Sx-2BDr9huKV1cpbnN2uEGfsMJv2xj2lgG8DpMS1x1Vm1bggCTfJ9v5YFXM= CJFc4WD3FnSXCjg4ydNJVrZSbdIWd2J92GS6Cop0ji7gFt0A3DTI-2BjAC8jqxDbFwMDcqbtgqr= Dl6eMp4XFElANbqt-2FkcSYEXYHxhPeTz6V-2BmP12TnqxxlSQ2w-2FsbDSfNZ-2BHOibqfc1Wu= crwNwfcP46R12R6f9aQjpEUVB9vzo-3D" universal=3D"true">analysis</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> <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: 0;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 2px= solid #F8F5EF; = "> <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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"> =20 <center> <h2><b>Sign up for our newsletter</b></h2> </center></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: 1= 0px; font-family: Whitney, Arial; color: #000000; font-size: 16px; line-height: 1.5;" valign=3D"top"><br> This edition of The Weekend Pitch was writte= n by Leah Hodgson and Jacob Robbins. It was edited by Andrew Woodman and Mi= chael Bruning.<br><br><em>Were you forwarded The Weekend Pitch? 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