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Edit File: 1762792217.M185238P108400.server-619288.prediksijaya.com,S=180496,W=183753

Envelope-to: most@ponjosonek.com
Delivery-date: Mon, 10 Nov 2025 23:30:17 +0700
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Date: Mon, 10 Nov 2025 13:20:56 +0000 (UTC)
From: PitchBook News <news-noreply@news.pitchbook.com>
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Message-ID: <yuacrjN4Rt2m583mrzVzWQ@geopod-ismtpd-3>
Subject: KKR: PE burned by overdeployment
To: most@ponjosonek.com

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style=3D"color: #78766f; font-size: 1px; display: none !important;"> Metser=
a a heavyweight among obesity drug deals; supply chain VC activity jumps 26=
%; Europe's PE returns overtake US funds </span></td>
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d morning.</b> First up, due diligence has entered the chatbot. PitchBook i=
s launching a new generative AI experience on its Platform=E2=80=94and our =
data is being integrated with ChatGPT. <a href=3D"https://url6380.news.pitc=
hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw=
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our work will change</b></a></td>
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                         <td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_574531" id=3D"n_574531" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
                          <table lang=3D"x-news-group-title" cellpadding=3D=
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tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
                                                                font-weight=
: 500; font-size: 20px; line-height: 26px;"> Pandemic-era overdeployment is=
 triggering PE consolidation, KKR says </span></td>
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8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: =
27px; color: #78766F; text-align: right; font-weight: 300">(Cheng Xin/Getty=
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0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Madeline Shi, Senior Private Equity Reporter</i><br><br>
                               Many PE managers who went all in during the =
pandemic are now suffering the consequences, as the widening dispersion of =
fund performance drives more capital toward fewer managers, according to ex=
ecutives at KKR.<br><br>
                               Scott Nuttall, co-chief executive officer of=
 the $723 billion investment manager, said on the firm's Q3 earnings call F=
riday that some GPs deployed more capital than they should have at the mark=
et peak of 2021 and early 2022. This left them stuck with valuations that h=
ave since proved difficult to justify as markets adjusted to interest rate =
hikes and tariff shocks.<br><br>
                               "Some firms deployed a five-year fund in 12 =
to 24 months during this period,=E2=80=9D Nuttall said, adding that many of=
 these deals will lose money or require managers to extend their hold perio=
ds in order to achieve their targeted exit multiples.<br><br>
                               This divergence of fund performance is promp=
ting LPs to back away from some funds and channel allocations toward a tigh=
ter group of managers, he said.<br><br>
                               Nuttall added that KKR has learned the hard =
way about overdeployment when it made too many investments during the pre-g=
lobal financial crisis peak.<br><br>
                               That lesson was reinforced by the firm's sec=
ond Asia-focused PE fund, which reached its final close in 2013.<br><br>
                               The underperformance of that fund means KKR =
has to return $350 million of gross carry to investors during Q4. The firm =
expects a lower net realized performance income in the quarter due to the c=
lawback.<br><br>
                               KKR raised $43 billion in Q3, which marks th=
e second-highest quarterly fundraising total in the firm's history. The bul=
k of that capital came from its credit business.<br><br>
                               The firm's PE platform pulled in $5 billion =
in Q3, raised through its retail vehicles and the flagship buyout fund, Nor=
th America Fund XIV. The firm's PE strategies have brought in a total of $2=
2 billion this year through Q3.<br><br>
                               KKR reported a record fee-related earnings i=
n Q3, at $1.15 per share.<br><br>
                               KKR's shares declined nearly 0.73% Friday af=
ternoon.</td>
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wILuyOZ1CqEP6NyzPys3aja3cMtBNJXQHTU5NgQI4Jv5h-2Fc5iD5wPgIPGD2kxPh7bf9Os-2FT=
1cAUpfG2XLOitiygoe8dVng6wcJx"> <img align=3D"center" alt=3D"" src=3D"https:=
//img.pitchbook.com/news/70462.png" style=3D"border: none; max-width: 420px=
;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table>82% of funds surveyed find the fundra=
ising environment stable. But capital is flowing unevenly depending on fund=
 profiles.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?up=
n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15=
jqVzRjB4GTAfyHIGgYMUCQ-3D-3DZix3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy=
-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsg=
sBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjA=
Lquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEY=
XpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2Z0ClaOo2wae-2FAbkK9=
cUTrwhDJ3trsPbey798P7mJT5Hjv-2F0rCQaEVl7gUEbAfKMNklMnuRZRSyXwLLtIL-2F-2BrN5=
gwaDQcM07g7pPcOAFUCn0xIQyckwYHx-2Fi4gpv2n0jbWdfmyk-2F5F53S0dMq2Fka3mJCVOMlw=
RK64fl8x9qTbRvS12iNxfrmU-2BZCICOfbO43Xv0iC6435eXe4OcEO7cMEo-2FzuHQGrLBiEmbM=
JE9Kl-2Bw8KeYX56m1NwdKxfVAS7nkHlSs4vERoUMrD5jIMjIme" style=3D"color: #1D508=
0;" test=3D"">Read the report</a></td>
                              </tr>
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                        </tr>
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                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
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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;">&nbsp;</td=
>
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                          <table border=3D"0" cellpadding=3D"0" cellspacing=
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0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80=
=A2 <b>The fierce takeover battle for GLP-1 drugmaker Metsera</b> was final=
ly won by Pfizer late Friday. The $10 billion price tag makes it the larges=
t VC-backed exit in the weight loss drug space. <a href=3D"https://url6380.=
news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15PFa5Z8azcc1NIwg-2FiQGbZQ-3D-3DjvkH_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94Q=
AwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeB=
CCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yG=
LqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-=
2FjoLhqgey-2BjnP303RPjPMo2GQVc11N-2FhAnjlmXPVpk0pyP0EP08cOk9PkLQ18tCVnFFbj2=
YhQ5B8e9QzbAQILBbOaqOgoQXdXCbG4toKVu-2BvndKU9efO9-2Fm7QEkMFWhFffqpJYRqW93l5=
5FuyolgL7fX70v99qI8HeuE2qKlozRqmttBbuowbTmE-2FeuvyQ4EDXkV-2FHxGCRyMGAwrZVwp=
qW1oedsLRp-2Bu6iA26TFI-2F1obKQeth2s5CHBaO8RUq9K0gnjO-2FrMqwC-2BzzwN0rG5m1-2=
FDo0JY2JLbieMm" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>C=
heck out the list</b></a><br><br>
                               =E2=80=A2 <b>VC funding for the supply chain=
 tech industry surged in Q3</b>=E2=80=94rising 26% quarter-over-quarter to =
$3 billion, as AI spurred investor confidence. <a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15v2LxXrR709-2FYQO-2BEcnE4lw-3D-3DDipD_I3w5d=
9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94=
QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfe=
BCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4y=
GLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK=
-2FjoLhqgey-2BjnP2ahSMQUkQ3AOmejqdP3O2HAF9oAEMFDbmEzdkLLoj2JI2QU2PcUktqFIc7=
PnKg-2F7Ny7WRHBriz-2BuYcH8mPqoR-2FP4gennfuXtdo7p2y5Eg5FvAp04im595oPVHldwfDU=
DkoQEhSTxmc62Z1L9S-2BFeQQEUK5qKOAiE6ae1M8UgN4YaufnY45M649GCl5u5qf2zdFMtVPyo=
xIRMaZTs82o66rVhcyvewi4stNOxg6uNwPevsseICE6QCUC7Xp-2FpuZ73ZYcitVMoLujHOkJIu=
90rx4" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>See what e=
lse our analysts discovered</b></a><br><br>
                               =E2=80=A2 <b>Just out: Our Q3 valuations dat=
a for public companies</b> in the healthtech sector sector. <a href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15OkEYYPUy23r3Y-2Fp7ffozlQ-3D-3=
DjN8J_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU=
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0MACPCH45fK-2FjoLhqgey-2BjnP36jUceiuqxXwokvHoHTIGa3oLxQv0AKvW4DoNW-2B7gs7JU=
9Xob4DJHmWeIvJhnLfmhHadcDdf6JLJDblVkvbghXTmWYjthkExl2vswiYvVMT0nMF23vXZ36-2=
F0PfImm04L-2B2L-2Fr239IAnyNgyFH2h6l-2B1XIXDXFo5wzb-2F2GIFCTGs7XHLi659MVFZ5V=
IsqBvJMepLE-2FtCLuzGuM1WdoqNm5uzZcCED0tetNjhAEJJHkK2X-2FQBMTYWcmqOMU-2FgpnR=
-2FqP4em5-2BxcBpSLiVU1cEGGT-2B" style=3D"color: #1D5080;" test=3D"" univers=
al=3D"true"><b>Get our analysts' report today</b></a></td>
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" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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                         <td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_574535" id=3D"n_574535" 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%;=
">
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                             <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;"> European PE fund returns overt=
ake US peers </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 =
Emily Lai, Private Equity Reporter</i><br><br>
                               European PE funds recorded the best performa=
nce among all regions in the most-recent returns data, overtaking US vehicl=
es.<br><br>
                               According to PitchBook's latest Global Fund =
Performance Report, European PE funds recorded a 9.1% rolling one-year hori=
zon IRR in Q1 2025, while the US reported 7.7%.</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%;">
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                              <td valign=3D"top">
                              <table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
                              <tbody>
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                              <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-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15-2BPk3zRV=
SmY1EaN-2BsdBq6pA-3D-3DTncN_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkf=
gn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx=
8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2W=
HYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0DxaDWXuLbmzowCpGa6H-2B9m=
DBDAxlw-2F0hY-2BR2W2PjtbCCWHItRQp75kcEieOHc-2FFJ1c1S8UlxAlmgEZobfjwjiLq8VHE=
G36Ux-2B7lFVhMisJywXOQk9pr6HljboPkTulTrDA2fpWe0Crzu8ECSh3-2BC9ZgIiui6wjhGFv=
-2FnMdt9SM8dKisfJMeqs-2FVV8tckdgbtDQAJr7eZT5ox-2FW985OFMXq-2BlG2mhPjyMvanY5=
f0CF1gnlTEO8op-2BNEjLHkWLbGRXLHlVT5szISl4sUuqY2gJd" universal=3D"true"> <im=
g align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/71293.png=
" style=3D"border: none; max-width: 420px;">  </a></td>
                              </tr>
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                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</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">The ne=
w data reversed the trend from the previous five quarters, during which US =
funds consistently outperformed their European counterparts. The largest di=
sparity was seen in Q1 2024, when US funds posted a 9.4% IRR, while Europea=
n funds achieved only a 5.5% return.<br><br>
                               Part of the reason lies in the different pac=
e of monetary easing in the two regions.<br><br>
                               The European Central Bank has cut rates eigh=
t times since January 2024, while the Federal Reserve has lowered them five=
 times over the period. The cheaper borrowing costs helped boost deal and e=
xit activity, thereby improving PE returns.<br><br>
                               The consistently lower valuations in Europe,=
 compared with those in North America, also attracted investors to look acr=
oss the pond.<br><br>
                               Globally, vehicles that raised between $250 =
million and $500 million performed best in Q1, showing a 9.7% IRR. It was t=
he only size bucket to see improved performance, due in part to the relativ=
e nimbleness of capital deployment and lower debt dependence.<br><br>
                               This represents a shift from the previous th=
ree quarters, during which funds under $250 million performed better on ave=
rage.<br><br>
                               Overall, PE funds globally posted a 7.5% IRR=
 in Q1. But a short-term negative return of -1% in Q2 is anticipated, as ma=
croeconomic volatility remains a significant headwind. This could potential=
ly be turned around by the strong dealmaking in Q3 and further rate-cut exp=
ectations from the Federal Reserve.</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%;">
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                           <tbody>
                            <tr>
                             <td style=3D"padding-bottom: 25px;">
                              <table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
                                                                           =
                                                         border-bottom: 1px=
 solid #C3C3C3;
                                                                           =
                                                 ">
                              <tbody>
                              <tr>
                              <td style=3D"padding: 1px 0 0 0; line-height:=
 0;"></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel=
ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrH=
cFCcaT15trlGT9u9kBIuNEfmWLLNpg-3D-3DmL4D_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx=
BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU4=
6aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAz=
nQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJj=
i33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP3k3ZyLXMc-2B=
1PZGuoTdj73O9AY-2BHp1M7e7E2kgweprAL6u3hcuIfvFnTYXYR3OQ2qarBNvwReC56J4CR3Gtd=
neYR3XaWjrRX9HOVdY9UKsp40ynvCgZF19IZW-2BlU5HTbHCzKV1R4qvoJ8SWkmCX-2BY6XVtOd=
WZx0pVsEf8wyqVNwbKTcfWH5tOJi26BQmidCb6FFb3TIdMwZxvmKty-2B6H7AsMxsR-2FXdA-2F=
ypShA1gV0-2F6XLQU6Cp85bOVlogKyn5s2Tsu0lObmJMxggOGPkW8Dehz" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">Q1 2025 Global Fund Performance Repo=
rt (with preliminary Q2 2025 data)</a></b></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</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;">&nbsp;</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>OpenAI won't receive government=
 funding to build its data centers.</b> Though the company has spoken to th=
e US government about federal loan guarantees for chip factories, CEO Sam A=
ltman said OpenAI doesn't believe in taking taxpayer money for private data=
 center projects. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?u=
pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT1=
55AK1nHbb7FcikzFiZgjYqw-3D-3DC9X3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz=
y-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXs=
gsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRj=
ALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoE=
YXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2IyvVP63ACxxE84RmSE=
AgJ8fdkjS21h4W3oLLFAVF-2BKHPbPalStZhbPulEp3Arm1vu5y1DzC2ps5tUG6NL0TLLPMqeBn=
rM7Mky6-2FcxmhCzzVrMl2SN2np9RHW8aeYiZX3tXoGuxMkSVqPye-2BbxyFeGhuJj4RodTQ6ad=
dTiLh5f5O4bDV7E-2FB8-2BNy0AScDdPHy50UrwdRKWArsbSETedDpjq5SpGmUCtfz0U8wzQ3Vg=
RpLVo9HN-2BP2wT4zbsforzeld87-2B7M4q1XBZT1lfR0h7h" style=3D"color: #1D5080;"=
 test=3D"">Reuters</a>]<br><br>
                               =E2=80=A2 <b>Starbucks' bear cup demonstrate=
d the strength of "little treats" culture even during economic uncertainty.=
</b> The unexpected drama over the "Bearista" cup showed consumers' desire =
to have special items despite the US heading toward a K-shaped economy. [<a=
 href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15QenWI599WADKb036JUDn=
vA-3D-3D6anX_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0=
m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWL=
DbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2=
BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdk=
BBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP3XrgMVEkHJITb-2BLRu0LNHcku-2FxoNQFa6AkZj=
wsYY8FiktJk3QkH9CIkDRyduuHg3Ir8Tfs9fxWcQLYG4x9aKO1rdSi2WInwA8oxj-2BNQWD9qTe=
Aiky8KAKgafv9b0Y4kJstYRfG5s3Eiisaoszll1vjSWuEoRWcFd0p24WiubYNlzzbYu2KCIW808=
jq4OKO4dtTx2x5zisH3LiTUyuaPFo-2BOEwJHg9sjXrERMaCIwQWbanJgw-2FKzxy1HX6nE7kij=
pQ1puYoPtJWAyoSR3fikOMW" style=3D"color: #1D5080;" test=3D"">Fortune</a>]<b=
r><br>
                               =E2=80=A2 <b>Samsung wants to enter the worl=
d of American consumer finance.</b> The Korean company is working with Barc=
lays to launch its first US credit card. [<a href=3D"https://url6380.news.p=
itchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo=
uzVEHBjBR1XUVnrHcFCcaT15atyckm7TuVjg7ti-2FFOqDIQ-3D-3DxQfX_I3w5d9c01gkD8gLz=
FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxf=
TGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonR=
OfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rp=
mnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey=
-2BjnP36DssPYe3w-2FCml7mm7hjAbglGzt5hPyHAWkwN-2BfomcrStqAT2rGzwMeZl3Z2ZcTih=
EWDgZbqG-2BZ318UigeYtgISVQ3Dwgf3v8IM79-2BxiYjc7cYEmLdffyFLGW7jErKkwSl9Nsuhh=
hsX9UxjEfQ1gr1TRLLr69ovrQ3ZkJfr8tD-2BfohR-2BaEicFN7ykK3duLhkXV-2BZcj3EWJBAG=
voOktB26Mc3p1ICJJ79McPX2A770k-2BXZuXiNOTJWdDi6KvHH0C1f8Nsd656vJwqBKrg5HfTCS=
" style=3D"color: #1D5080;" test=3D"">The Wall Street Journal</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">&nbsp;</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-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSl2cgMlVHFkf1ZuSlgsR9Zw-3D-3DDFd=
n_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ=
-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FE=
wP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK=
5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MAC=
PCH45fK-2FjoLhqgey-2BjnP0-2FRMvK2qAZhnCZzywskugSYA4Cgt6FRyD9phqjFGJ25SEqkin=
xguoyCo62xK6iQRSUSUywG5rpQ92Jrb0W9sCpwbTMCvJVJvivPc5rPf938-2BeCINsuXo8O6V4A=
6xqphTyxBuD-2BKIUbGdOiboFP62ZzVbwBdXpUKTQf-2Bt4XIIko6pS0Zj7ufoZVDSlVuy-2Btx=
UM57fBn7apXieUfxkH-2BhT8Jt2YSQQyuTMSX0IPAqpd6Ps65pdu0oGil7YTj9DVsnpRLmmxIYq=
VhDv8w1M1hEUEo"><img width=3D"460" src=3D"https://img.pitchbook.com/ads/ad4=
363/460x120_pitchbook-banner-ad_nov25.jpg" alt=3D"Ads" style=3D"padding: 0p=
x; margin: 0px; border: 0px; display: block;"></a></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td>
                  <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D=
"0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38;  min-wi=
dth: 100%;">
                   <tbody>
                    <tr>
                     <td style=3D"width: 20px; min-width: 20px;"></td>
                     <td style=3D"padding: 10px 0 5px; font-family: Roboto,=
 Arial, sans-serif; color: #78766F;">
                      <table lang=3D"x-counts-title" cellpadding=3D"0" cell=
spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
                       <tbody>
                        <tr>
                         <td align=3D"center" style=3D"font-family: Roboto,=
 Arial, sans-serif; font-weight: 700;
                                        font-size: 14px; line-height: 27px;=
 color: white; padding: 26px 57.2px 37.3px 57.2px; white-space: nowrap;">Si=
nce 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: 24%=
; min-width: 24%;
                                                    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;">
                              60
                              </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:=
 24%;
                                                    width: 24%; 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;">
                              168
                              </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: 24%=
;
                                                    min-width: 24%; 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;">
                              84
                              </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: 23%=
;
                                                    min-width: 23%; 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;">
                              4
                              </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: 0 133px=
 13.3px 133px;">  <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSKx3Vt0nj0QUUYxp3tFZNUw-3D-3DV4b=
0_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ=
-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FE=
wP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK=
5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MAC=
PCH45fK-2FjoLhqgey-2BjnP0DCwMo5j70hoPgpeQKQQSTLPQ547npvnqbwaSTgimMFSpyxGMEZ=
GSsnm-2FjxXBqdY2eWG06JASlVsy6-2FsbJch-2BVypcK7DLQpgkOT98DLNccskr0uMQwn7r4Je=
Uqj0U7gm2hCkzCStzLa9Cc3EujXD3ZvTBPeg6-2Fyl7DUcOnnKVAtXhh-2FMbdz9jWWp8E1drXb=
lQLk84aJQbFHBqhGv0Riy9o5p02efgfL5lMG6HFfgh20EBE2loG-2FsuN1DydIYB0-2B-2BAEkv=
PMVTAEFJg0U8JWdmFM" 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;"> 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>
                     <td style=3D"width: 20px; min-width: 20px;"></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td height=3D"20" style=3D"line-height: 20px;">&nbsp;</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_574534" id=3D"n_574534" 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: 2016 Vint=
age European VC Funds </span></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table cellpadding=3D"0" cellspacing=3D"0" lang=
=3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: =
10px; min-width: 100%;" width=3D"100%">
                           <tbody>
                            <tr>
                             <td style=3D"font-size: 16px; font-weight: 700=
; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1=
0px;">Median IRR</td>
                            </tr>
                            <tr>
                             <td style=3D"padding: 0 0 20px 0;">
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 40.25903939557474%; mi=
n-width: 40.25903939557474%; max-width: 40.25903939557474%; background-colo=
r: #1D5080;">
                              <tbody>
                              <tr>
                              <td align=3D"right" style=3D"padding: 0 4px 0=
 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
 sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">14.92%</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">37.06%</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;">
                              1.37x
                              </div>
                              <div style=3D"font-family: Roboto, Arial, san=
s-serif; color: #000000; font-size: 16px; font-weight: 24px; padding: 0 0 3=
0px 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=
swouzXkyEMbq6erChkJ8T0SICoSTfqsnq3pbbLZclIzy6ob5A-3D-3D7YVD_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qx=
fTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaon=
ROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3R=
pmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqge=
y-2BjnP0XDXBOl6wJ6KSCmQLbtY0pAXaIJg0qZYXHowLvh0Z-2FbLVEvIbMypCqKtbshSQpyfUM=
iZzbQtSs6pw8Za5rCOvHqCUGCgDQaW9RmW7akNtzw-2BUYCJ56TxaNvGfJKXGolp2EXsM5Xoqg7=
1GTlDTznkyNzqfMQtDCVDYlmysjLAL5ZP4NhlUlCJKGVe-2Bix6pT4bO4YLK2RV8SNW-2FwJs43=
2G2uEmNrA9-2BFbdEajcOzoPEziS-2F8OMzCFEQDjIeeVeeu5fpHpCnwvD-2FXbxr9qUvk7W2v"=
 style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D=
"true">Bridgepoint Development Capital III </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              <tr>
                              <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
                              <tbody>
                              <tr>
                              <td height=3D"22" style=3D"padding: 15px 10px=
 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzXkyEMbq6erChkJ8T0SICoSGX-2FF3wtrlXLv2026YbEMmA-3D-3DkW4n_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3=
qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgja=
onROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX=
3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhq=
gey-2BjnP1g2QN58HNvFspjugJUkFSQqRPnMziSmEDX12fxaFFGZPFy0F1jTYF1FcqvDFsetP7k=
fVw0AE6Ghzjzs6AK92jLTZUb5kbv7lz8wwU9w1q9K8KZrUn5-2F-2BGRWPWONiR1uu2IO7JZSeU=
NRMFbBTTihbkrkfoe0Ajjd4Har0u2A9JpGqGSIXKiL-2FzPws7qEMF2AXnPBrM5aWoXDcq0NKPM=
3ckXRjt9MfrKdUXBL1PMnmGQg-2BTmM4ZD1fL1qHOQxwUVptcyW7-2B0MIwANX6gVWvnJhwG" s=
tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t=
rue">VIA Equity Fond III </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              <tr>
                              <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
                              <tbody>
                              <tr>
                              <td height=3D"22" style=3D"padding: 15px 10px=
 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzXkyEMbq6erChkJ8T0SICoSsW7uIklBJqwBETX9i-2FD-2FQQ-3D-3DMTU6_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKA=
s3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKg=
jaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrU=
hX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoL=
hqgey-2BjnP1HsPbF29q6yK9Ke5IXWQ77XOYx2Pot4pnaE4GqjFCX2IvEHbb0lU6flejogzBWmS=
UAruD1q6rwttCr0YCvaqf4rekze4o44NGu-2F7CeEIkNXRfiJlMkLD-2BQTc20ClB6tp3zGe1VE=
ueKTyXbB8cIh7vRSS4yc33BTuWPfu8Sp7qanCbnxa806DQiBSdfF8HLxBbIGdVx9T7TgW-2FhCa=
E7GA1xO5VcpRBUrTWQ9DSMrbujK6bL6uxGIxThhPmGPZf56OAF-2B0IkvD7zKoTF-2BWgAbFMw"=
 style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D=
"true">Compass Partners Investments Master Fund </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                            <tr>
                             <td style=3D"font-size: 14px; color: #78766F; =
padding: 25px 0 5px 5px;
 font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td>
                            </tr>
                            <tr>
                             <td style=3D"color: #1D5080; padding: 25px 0 2=
0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSnVr-2B=
RE6r-2BBuooPCsi3ZupA-3D-3DsnDz_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2=
F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsB=
wkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALq=
uwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXp=
O2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1aa0ZYnWHad4Of4tFXNqGy=
ojY5WU55aHDa-2FhQ701W7FtBnXfq3s6yQsnh-2FCHl00NSe-2BY4RdkQPN0gMXxc6L5mlRovvy=
NGFh0csILLK050y1JM0h1Z9MhNsYLg2EVFXbhZE96AgXbYQPhRefii9DKg1sb-2FfKtdHyCS4nJ=
uFYuD4uJC9rbUQkCqJh1G-2FQqju8AC6yfh3g5K6X9gQsSyTZ2kizbGrvqQ3kbjMwJk2eDve3rH=
X1tD20V-2BvoYgEs66g6CQMQY9PQv4g-2FumPa6zIS7CP" style=3D"font-family: Roboto=
, Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; lin=
e-height: 24px;" universal=3D"true">28 Funds in Benchmark&nbsp;=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-2BaqM7ONnvsnswouzXkyEMbq=
6erChkJ8T0SICoSdauade6-2BeA3bEmhlcnH-2FZQ-3D-3Dgrn5_I3w5d9c01gkD8gLzFEofZR-=
2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMK=
mHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9=
e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZ=
jk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP3=
MWZD5B3kILo1vXuX6TGTziIdZU4eOo-2BdNSuueWE1W33NZD4YoS0PyIZhiv2-2Frix6dVq-2BL=
WqHT9aHtZup6LsnAPwrs0-2B25jHdEzyGx-2FyhSSnvUezZ2MMrrywYYDAaFmMLJ58DgbkmeH5K=
-2BVGYiphaEakDIV9IIGWfu9qLUSRYIyu4qMfuKw9O60xJNDN9WUAmSzhJam-2BV3LF2ueajcid=
EIHQ0TlokwG3aIn5x4PFbwPGlxdYqmWRGW2trROUsqmae8w8Nnqp1R8kj9On5-2FpiE1" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchmarks</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">&nbsp;</td>
                </tr>
                <tr>
                 <td style=3D"padding: 0;">
                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
 min-width: 100%;">
                   <tbody>
                    <tr>
                     <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
                    color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>VC Deals</span></td>
                     <td style=3D"min-width: 20px; width: 20px;">&nbsp;</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">Busine=
ss insights platform developer <b><a href=3D"https://url6380.news.pitchbook=
.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXk=
yEMbq6erChkJ8T0SICoSJRYqPQCRSFr-2BUP-2FyIcmd5w-3D-3DMO30_I3w5d9c01gkD8gLzFE=
ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTG=
qSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROf=
BUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmn=
n5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2=
BjnP1s3zeye25Yh0tBGwMM7PdqXpo0UvaLm5FaH1Q7l7LBJVz3XbNLRgRgyBbbNbwBghtz0pEC4=
NxQLJaAEaK5dU-2FYZH3sIXH0jEj3T8F9DysOlthVkCY48ArrG4s4xQZDQ42xffXJuMyqV4fj2i=
39zOz5crL1QMjWxXF1zaNDRc5nHCOmultWZfcB5JbnCBuAz5k8WFZOMmpvOv8KFIzc-2BFNaqGI=
Lt1oaF2NBoafyau-2FO3Y1d5TzMDMwyrbQZQ9SjHT9fhcOt5YCKDenoW2SZL5El" style=3D"c=
olor: #1D5080;" test=3D"" universal=3D"true">Aily Labs</a></b> secured $80 =
million in a round led by <a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXkyEMbq6er=
ChkJ8T0SICoSgfAgXLYGSD2JYiSqFZzzzA-3D-3DBaCI_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwa=
rHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6=
BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnF=
pNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8Sw=
RKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP374AU9ao=
OXttwUX9xRPg7kkoey6eLMgK1lTRb4zijL-2FRON3mFUqV4zFwHpLzRvEwfFSfpRb-2By73fxyK=
XcxPi60arfxY6-2FDnubuo87lKcGbhnZuTw6ipgopaiueAI0EjZ8bTuRCvWz56HTedZNLK15D4K=
BVWF6MgDauL7zJTxBjyPCclGmVntd9mHpD1XCbnkpnMw6-2FMuK8VinOvPhTfzjritMDLYxGX-2=
BquxxEWVL45ot4Wb-2Fuj9eiWgrc4H0-2Bt5whLaqgUgK4-2BKf8-2BsyAzeD3i" style=3D"c=
olor: #1D5080;" test=3D"" universal=3D"true">FPV Ventures</a>.<br><br><b><a=
 href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoS6gyG3qgAUIn0s8-2=
BLT4CQpQ-3D-3DQ9Ft_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe=
UgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6iv=
oWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9=
JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2B=
RGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1li-2BCWd601gG6DXK9EdJD4FoxUNtpKSk=
4Q1XzHqNUq665KtXr1RfqUqNT7WKBeiLpInQfxc-2Fb3nX5ps7T4xP0bYfT7nxVLJaiDKcNMBka=
LSg4SKhblp4X6RY01aGXgZuR2f02DmsabS0E95J-2FGsN-2BkY7BTm-2F2FjjNmnP5Lco1Ezh11=
q2gskwTS1lzA-2Fo9WW1cbqD5XKwN4gXnJAfP33iUeMEt9sdvP0dsltIQu-2Fsaj40e8fHFDcyP=
RL1K1Dfe20-2FLjoYGzY-2FvsZAMPF2YVdG8G" style=3D"color: #1D5080;" test=3D"" =
universal=3D"true">Fastbreak AI</a></b>, a company making software for spor=
ts game scheduling, raised a $40 million round led by <a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbliAEShkAFBYaWwe30-2Fq-2FdA-3D-3Dk=
LHA_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7J=
WZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2=
FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2=
BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0M=
ACPCH45fK-2FjoLhqgey-2BjnP2mpZxMJXHdZy0PLgDC-2Bm1AmOiLJg68wGHkLKTuEWBqrz7D2=
ScPOqyq9bzLryu69vu0ALd-2BtEm6YhhxgwDJ7i7f7-2BJcssA2x8AmSCJw0TbmGX9vNA5P7dZs=
ruvBVJXTwKd2v0HoDhSqv1raNLDADKrM9cAAlh4RgPgUycbdECc67WPCZizIifJvhVFMleDOq3Y=
oGa-2FDtalJ5c86-2B-2BCKoZ4qIT-2FoqtCxX4ueQh6rjxzGXt-2Ff38O-2FDOoxjV5-2FaT2m=
WLUtv-2BISNTNYPwkpH1Gv8vPx" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Greycroft</a> and <a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV9sdsXZQ=
4G3S18lyk-2FMDlbiP6RBAZ9S-2BfTTbjDOYTcnw-3D-3DhOU6_I3w5d9c01gkD8gLzFEofZR-2=
Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKm=
HzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e=
-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZj=
k8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0n=
vQf4Y5o8EGdmZpDhoTYBnEruylv2G1FOykwlHlNhF-2B1xnHNEtPKqEmHUb5KpSsA55mKPq-2Be=
psWFp1JR37y9GL9XIftCqRyBrxRw5LOoBWrmMzSa6V3kL-2B-2FIS5U908lJxW91ZxiD-2FAZig=
-2FjBYFkdwU0tjvu9G6KwUwz9Ma-2BhL-2BWhnyvqXGy6Mi17c-2FTwh4HrQDqW9ZHKdraZuTUH=
EB0ZBcsQEIFr-2FOIZ4fBAaYghEEXV6XBsqDb0CQa0DdbtWZtPlyl3wlzk74T1yXPvm0uMk" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">GTMFund</a>.<br><br>
                               Wisconsin-based <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlb2RFCrz-2Fi6Sm5c16-2BilCeBg-3D-3DsDiG_=
I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2=
BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP=
5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5x=
YZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPC=
H45fK-2FjoLhqgey-2BjnP30nFiPcvEmFWp0belegzO6u51EmskrFBMXC86lRakpgu4LjGm9HD3=
g9N1ICpW9ariPO1AcCsFOmOs8uvT0PDglmBS2nAgiE9LL63yvXHdu7yXYIaZc-2FWa-2BUI17Sp=
uRyGkzZyVA-2BU-2B-2F9oA31afGXW3Yy-2BG0W-2FgA4LGSXZTp05PY2JpNaVtRJgyHfV-2BWa=
jtD-2BJxCG-2BgiJQobDjqKANatRxM5P4mw3ukItIspwLwBq3SoPcMdmZJ6Vtlor-2FHaE-2Fkc=
MI349oH5v8ep2iov4YxutKCm" style=3D"color: #1D5080;" test=3D"" universal=3D"=
true">Elephas Biosciences</a></b>, which offers a platform for predicting i=
mmunotherapy responses in cancer patients, raised a $40 million Series B-2 =
from investors including <a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV9sdsXZQ4G3=
S18lyk-2FMDlbJcdMQZaSayzGvMlvhd7cRA-3D-3DiJhG_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw=
arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj=
6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2Bwn=
FpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8S=
wRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0Ido4xc=
oeKkj2a1riT0Hbn688WJG-2B4ceP8t3TT27u-2B-2Fu5Suay3V5I8uG7H7VCoWqdzrBPSYYlqAz=
4We7swkw6PR9bLFUTnawO6e9PjdxwjFS2B58iD6IYJDBttlUDJAOWyz48FIIn0eeXVX-2BCSE3n=
JfQ8ASqP9S8YEDywhryAcVZW-2FrcrPPLirR3TYghotrFtdlhhsftkIafXVRsbVycs0HeBiaoFr=
vZn4r3LuouA8SDHfJ7hFe8-2FtXxOd-2BxYeEmP68kAOsD1b5ISUlOi1hL-2Bl" style=3D"co=
lor: #1D5080;" test=3D"" universal=3D"true">Northpond Ventures</a>, <a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbtV8JWxUBl-2FNgRjUp8=
3BXkQ-3D-3DFPaM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWG=
TWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUo=
X-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGp=
zdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0xBqhe2chg7nVE-2BmkxZoMJnxN47M8Kkzx8K=
7T47ZTwgpCJG8vLirGerNgEnqVqwL-2Bt3G6C9h6EuB76aVSYjl3aL62VzY09LrAZxNdI6FU3At=
KbvN9FtdxTt1eRMIv9d7-2B9IIf5jLMoJNl8QhP3wbtCYu-2BHBwbH8XDoRJVKBFx2A3g1c-2FB=
cBAsz3B1KMnFXwkv-2Bx1fg2pxOfNVMIfQ27YKnwxDflNNLs40iAkyNE1yBdXiPxvZOZd9bzD75=
TmSff5PvnJ9iE4z6p271B-2BFgpFkB" style=3D"color: #1D5080;" test=3D"" univers=
al=3D"true">Arch Venture Partners</a> and the <a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbDxN-2BgdeR2678OUZ-2FFd-2FrRA-3D-3DMDYU_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BM=
L94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5D=
OfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZ=
v4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH4=
5fK-2FjoLhqgey-2BjnP36BQq77AuNU-2F4k5XHUOKToZ9kSNPTGT8mgBM7UCUvIF0saTnp3XlM=
wp29ZTqC9DYL1lPxHAzcb4rAOGcT9e1yAxq56X1K1J0n60G8KTYLfsSRob7vdjM9fEOY-2BF6yp=
yFQsTk-2BLhpEpYWVX8aod6tLL5nvukF1Vm1Z-2Bn-2F7N6lDoFRxORQdkva92Ki1h3H6cBbUsL=
Sbm11Eo74dXtYwMS7JOayXV1Zc4eu2JsKIt4YxBrXhkqjX6J2oP3jEvXJJTHKumy6eOUo4X72mC=
Go2sg1Wo" style=3D"color: #1D5080;" test=3D"" universal=3D"true">State of W=
isconsin Investment Board</a>.<br><br><a href=3D"https://url6380.news.pitch=
book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo=
uzV9sdsXZQ4G3S18lyk-2FMDlbIcIHk2AVX4lNGZDwyKi6QA-3D-3Dq6qE_I3w5d9c01gkD8gLz=
FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxf=
TGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonR=
OfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rp=
mnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey=
-2BjnP00CL7FtjsfSHsR-2F37ppFYKJgpxI2FHEY4xfnd7vN4nVnyzzsq0hETtXNrLwiDNLLF7X=
d2ucSiIOjhScXjB6LoASBzPlDNlUqAfDa3-2BCPFiJde-2BPd2NwwKVQca8llNqMlcyNJ7MB7Cx=
GaPDhOlu6jeowzg-2Bjaxbi89VGbZhA-2FI67u7m2S4vZ-2BzkEvqNGt-2BQC-2B9nXPU6rjq-2=
F2dEO9SJgupnTHTOL3u9ybokMmBLn-2F-2F6k-2BFgPiRTeUrl6CNa4Pq1x5Sv8lKDoPvFlRpoY=
Gq-2FoEKY1" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Accel</a=
> and <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001=
.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlb3omrmV=
M9QS-2FZjgq9ZY7JLQ-3D-3DPJhr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3=
t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwk=
fgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquw=
x8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2=
WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0wB8R21tUo3e9XUTF-2BEpQR=
oqtXlNmWYlFdMJUKRsyIUh0zGF65L2c-2BXsoqmihYh6cAdqaRz-2B6ARvvtZzGqOiUV6xZUVv8=
cbyYQ5QWUnTqDaXawKhPKk9ZxywClmCy6mYShoIIJe0cf3rNZqqRXuFYkxxtOa6UH-2FDdq4T8P=
9QXXHq42mavXmih5SEJ8DeJOIrlg8LO9rCAXo1HGUp-2Bm5qjzJ9VAz8GdxhT-2F-2Bq8Yz6u5z=
EW69iHEtaOSjqIGxkIeot3jTSw1myYoYej152Nyu553" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">MIH Investments</a> bought <a href=3D"https://url6=
380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2=
BaqM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbwPZGNkk56YYYThJK6VPkYw-3D-3Dm2G1_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BM=
L94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5D=
OfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZ=
v4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH4=
5fK-2FjoLhqgey-2BjnP1WXjeRwABQ8DWl5-2BAcSq90vYHa-2F6F7WOZnTUBW1WtLc9oJko3YQ=
QaIInElfJ8A9PKG8DWVRHLh5mIeYTgy4B2Oy-2BwKN6iU61bJTgOebbVlsfW-2BmpcH-2FIlUZ2=
g78uRtq5SrrVvFYTUm0luf0-2Bc5iULlHUDe4LFdgrenFOp7Xwd0bIjmtmPZc6O8TpK4nGbL83j=
nr57ZZ-2FZd5Jfa-2Bs7CvQHyLLk7qY8HOsFouOppAaYIZcS-2BGnE0-2Bpm4H2xbvCtmPHTKM1=
Db5-2F2GnWFhnMyPGFDb" style=3D"color: #1D5080;" test=3D"" universal=3D"true=
">TVS Motor</a>'s stake in Indian ride-hailing startup <b><a href=3D"https:=
//url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbobs4AjEHoRwfuBAPKEnB7Q-3D-3DB=
KH-_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7J=
WZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2=
FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2=
BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0M=
ACPCH45fK-2FjoLhqgey-2BjnP0soWPDb2-2BodZsexaTWn3a7San4yhqvkO2sG7R52t1LkmKOY=
XqahEOAgoRUpf-2BDF7xfnIEG3yJFAkUoi6ukH8tHBvxdA-2Fz3uTKFiDiWrG6kg-2Fc-2Fo9lS=
DlHkg0iNakXKfw40UZC1oioMrwkkgiIL4FiW-2FKrRuCoRw4sH3on60dttAKeW-2B8rvyPfZXTJ=
3PIj0YN01-2BOWzcToEMKoONVZwFuW8g8zD2p3aZ1-2BISvylMYQPqxrJVgAAbltvmcCiX9np8R=
yRVxrKmN0vVEU0jg4fCXNN" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue">Rapido</a></b> for 2.9 billion Indian rupees (about $32 million).<br><b=
r>
                               Biotech startup <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSH27KdNlF-2BHBvaw-2BhW4O8ag-3D-3DQNFJ_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BM=
L94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5D=
OfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZ=
v4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH4=
5fK-2FjoLhqgey-2BjnP0mNwIk3NYTS-2FRHCAbC5HUBnOpe6YJj5bRQuujfVHH3VNuGONc6-2F=
hrwO1LmtvZd1vrSmip7qFCGomzWmMvYmo87Uqh1eyDLaXm8ev0nxpbvuep-2FtZzrLD5aNoxOrK=
sFzod8pyFYb4tIzSxi4vddp51W9ral1BqkwoZ6EBQx6OBYOu4MEICqsJofeYIWx-2FMZ0U-2Fei=
32mFs4iMIvQM4WjKbaEZ-2BdzopLF792Ve6Ptgu97GTCULHZDT0-2FyfOvrWC2eNJws4ceTljy1=
DZEhsu-2BI87qV" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Onch=
illes Pharma</a></b>, which focuses on biologic treatments for cancer, rece=
ived $25 million in a Series A1.<br><br><b><a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzVU1b3gRualxwhzwc2zFBPSttm-2F-2BX71UKTJ1EkJw9GBRw-3D-3D4jQT_I3w5d9c01=
gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwx=
KAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCA=
KgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqv=
rUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2Fj=
oLhqgey-2BjnP0x6zWhfiPt0HUJGKzPBOx5iLGnQTAvGMzCVWlYpELQtlqxvgVZC6jfG2o5BsBX=
luHI4VCT4uKqdlgK0YQQebcdHd4yAM3h8oJ0VHSvp0WMdx-2BvDv-2FkbtL0vF54LuqB2ZSdcPg=
C-2F4lSxzXePh-2B9-2BMu-2FmciYski9B62ZynpoYyg1ePOIStmjJ8rYFab06AVDEtJIWLNCRp=
PR-2Bm92jwlBySXYTEDWKH0nriuN-2BUkwc5b5O19D0jGNUK9q-2FpwApjiy40farc7ZWHPYjNO=
Dpu9rhgNY" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Amae Heal=
th</a></b>, the operator of clinics and a platform for severe mental illnes=
s treatment, raised a $25 million Series B led by <a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSpXMCpGOHRrSHih3KMHinFQ-3D-3D46b-_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94Q=
AwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeB=
CCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yG=
LqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-=
2FjoLhqgey-2BjnP3DuvXAEBvf2IUva-2BnSm50mH7viMP1YEUqfrnSMV9xnVCV3bVJbOKHr35f=
h513CfZgJShgeWncCAORAq1qUmsrnN6QOzBYmScoa9Mqs-2FAlU-2B1yFlas3ldPaCSfMIvVONj=
dnSxKG1s0RdwpOg2uYZkVR2-2Fi50LNYcFDPz8O2jYqzH-2BZmnYcWDzCYDst-2B4mQqZayu4JA=
SBSHkdBut96lIaGzBrs7gasCFKnHl-2FzRIUx3qvdMBFZjCpO0LL34AeRoE3rRXTtwtt-2FgiRM=
BXYRhBaaYY" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Altos Ve=
ntures</a>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhz=
wc2zFBPS2cgPc-2FmpTEimTBU1rhKFvA-3D-3DqANL_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6Bg=
U46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpN=
AznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRK=
Jji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0b32xITtvt=
I71-2F8SncYwF9ijbaPTzkfj13XH40CJFT8szJOZSRX3rlJu-2FPyxvXnywgxVrm9vCxyLU0dZN=
ef9RPJGcW7xPCa5Z2cnQJiMKrbZZuTS5xpvMAwgaUev-2F1Sg9qtZTwY5jdPmFgwwz-2Ba8otrs=
MN2frLptNdynzkY-2F1FCB6k2pP-2FR9osPgb1lQS0-2Bibni9RCVfPG8ES5znj7jOa89GCvUOT=
ez3kyffz0tzrGqnVNe2U-2BzWpgUJG-2BXQzfuUi75MRQyOccrsvwC35H9lp5" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">Lumonus</a></b>, a Sydney-based =
oncology workflow automation startup, raised a A$25 million (about $16.3 mi=
llion) Series B led by <a href=3D"https://url6380.news.pitchbook.com/uni/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwh=
zwc2zFBPSHeGqAEtsp2jruFiULJ1xjA-3D-3DQ8bu_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk=
xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU=
46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNA=
znQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJ=
ji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP19ULZ49V6QH=
PWXWEjoAD5GPf-2BSPAF0w8l5U2KwVZVB5ixEITmzuelNrJwS904i4mZXA8DfGU3eDI1Vg-2FFG=
InUf8lroLZFkVlVrZvQXJ0gSzxCXjRUWpgbFTvpuvZ-2Bfexse58qRFsMASqQdfO-2BVGc3-2Bl=
4arX09DX-2FUGtuMQXyWWCwn6Vrwg9kiNH04ZzUsbslMlvlnDr19cnfuAYBj88SjbQU10759uIT=
WmOzZNi52w-2BC8Q5D6qHF15kjIGRZngZSnznnMduQtfzMSncCIwbtch" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true">Aviron Investment Management</a>.<br>=
<br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSGaxBy2-=
2BOnsHH1ELQXaSsvQ-3D-3D0cuM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkf=
gn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx=
8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2W=
HYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP183vobOyI-2B5H7exXejbTH2p=
oEXry646B3epBnzbQmNT74xFsn9wmUoUvxzRtrbru3uqeO6-2F9z3HjeDvJK-2BnCYQ6DRy2xmD=
jvTpRJHYU7TOG7hsDtgG4ADHO8JfCAAOcH4MSdav5z8rI62uPdZ9T9VZqjdkUrp7a9gSIvbeh-2=
B1ge3om7haV4R-2BI5wwvLX0KKxeKKgYtg7SAP-2F3EWpawi4JUaoO47yZ-2B13NT2vDfsynlyX=
EeEZrbZT0PuB3VUSXjGJA4g39CN9tMJqj-2BrTaX9MqP" style=3D"color: #1D5080;" tes=
t=3D"" universal=3D"true">Accipiter Biosciences</a></b>, which develops bio=
logic drugs, received $12.7 million in a seed round led by <a href=3D"https=
://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr=
f6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSVy3rbTmJUb8De4Hvh78S5g-3D-3DiM=
6X_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JW=
Z-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2F=
EwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2B=
K5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MA=
CPCH45fK-2FjoLhqgey-2BjnP3RG8WxB0qQSYsTT1LXBP5OlHNgF-2BGgLOIq3SRHS-2FXVZ16f=
jHPL-2FV1XIT2n95C97QZAlXZDRKZBE-2FLAi2uF12LPlGZz9U1HF4jd-2BY9i2Jb8yTk9KuJzN=
-2FVGyJMMi7DmkJuNIUtClnD9o662Bj9Pe3fyRhp51yRylj-2FYCoqMVl9t47-2B4v4uSewxfW9=
ElVMdUZwiW9euOKj8ELCc-2BW4m4oq1DP1TyGxtKwFJAhy2OourahuwMnDdEG-2BgmRrBiasO-2=
Fk-2Bf7iWMtRq7cfyxxF-2BVYEN8B" style=3D"color: #1D5080;" test=3D"" universa=
l=3D"true">Takeda</a> and <a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRual=
xwhzwc2zFBPSEPl-2FwuO-2B7nE7lOUNaY2R9A-3D-3DqAUI_I3w5d9c01gkD8gLzFEofZR-2Bh=
6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHz=
Awj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2=
BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8=
i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP06U4=
15RSlxAjkrdS7Rgne-2FjyfFz5YS5zbR0Hl0W5FTSdrxHnO-2B7EnkYj62fvnMEWOk0qkKb9aF7=
eVv22-2BR1wTcQBTOgaefw7oI1ppLxRSiHpI86Ui-2BKzDpj-2FiMmWHjh1VyUOa-2BHvEjaYEf=
BBMIVhviY-2BaOZrxaSN6N40xzQZq9Y-2FlSUdc36SWX-2BzaxY0GAvSbyxNHfB-2FXK-2FsxtP=
eCQ5OYY-2FlPRfBRBwarTFpY2p1Cic2HfoLh-2FlYHYf3Y68poq28-2FNF6eIHc6UndgZZ5EHQI=
i9" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Flying Fish Part=
ners</a>.<br><br>
                               Swiss life sciences startup <b><a href=3D"ht=
tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS=
WIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSIEnXBsIKGl-2FlWKp4cVY0QA-3D=
-3DJJhv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pzs=
FU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3O=
w0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2F=
t4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtH=
dJ0MACPCH45fK-2FjoLhqgey-2BjnP2ejn80lZfMRyBjyu1zA93Ig67XncWxkIhcA-2FaZv9qMy=
hZeyhU7X2YoO5trgzfGvfyyPV4FrsU-2Fu1k4DBdWYWdA0WHi0EDm06OcrUYMcxnzY4zuFviEL9=
g3Lb7eCtP6W0iPwy9hhFQhRQe4mJTlxacCcgqgJ1RGFabjT41TVsvXjeXYqnjL0MzJMNrmJS8rB=
qSUQehegpxrjru3JqYr7VUrL7Jo5Eps9iSW-2FGXCht8BTX0LzQH3lXIj657hdekkxDASBVmh3E=
Oa8Ty1ymguO17r" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Arco=
ris Bio</a></b> raised a 6.3 million Swiss franc (about $7.8 million) seed =
investment led by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2z=
FBPSjKiEbDJs8vN8OQgLqPjXXg-3D-3DJ3D6_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFC=
fmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aRE=
OXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2=
KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33H=
uoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP13m04tafLx1udGLd=
54I3kamWyukBIySNruz5NLwg8bkNfBBq85nVFqz-2FkiA6FBJlS1ltcZRhy08FU1jSQmp5ETQfe=
BSYaxOK-2FrvLb2Nf80M3L5REbm-2F9fKSw37I8PSdLc1w2NPGsA-2By0SRv44Klz2g52aqrlCy=
dhcpHeuhoVTw8aXr9OLOAkwpja8PJi7MQMfDjdlYC5-2FMb3hb2-2B46x9NzhXthqZybJfPOWZ4=
DrgrwOgliHeVCFV7uB2lHB2Z9bbSw9iKcVnCrzg-2Fhcxk07Xjk" style=3D"color: #1D508=
0;" test=3D"" universal=3D"true">Ventura Ace</a> and <a href=3D"https://url=
6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-=
2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNlCYvKNG2EWQYHAPc7gcQ7w-3D-3DjT6S_I3w=
5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML=
94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DO=
feBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv=
4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45=
fK-2FjoLhqgey-2BjnP0rCIOXa2WnVJekP0Yztd5qilKure785UO5YLFdBjpm3RBspC8702VNwE=
jbeJxq6Jafr-2BrnHoWSVLyD-2FYaJndaiuBGcYStG-2Bk-2FZ2MrJRNFCRhs-2BtViCaNfbjXb=
AoGmBT7JbCPbUwPE-2FBBitLmXbC79mdurA-2FbXVl3jTy09-2BBVn7CNhLkbIZAwCy5MTV06D9=
B-2B-2FvRa3Ia3zqhiOAdDyy2hT1SrQ3eVdGWcXfXh5qkuLZp1n81aRRifrffOb1SqkKsDQGiDG=
f6VJ1XRMsGme3soH5" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Z=
eiss Ventures</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">&nbsp;</td>
                </tr>
                <tr>
                 <td style=3D"padding: 0;">
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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/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNq65PSODhn3gDn=
CgllN6WYA-3D-3DoobG_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW=
eUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6i=
voWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA=
9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2=
BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1TcdQhz2ai-2FMnZl8emm4iUI-2FgZU2k=
pY6W07xHcLkWalsBXctcGvT-2FjciW899KYwJd-2BHwNNIq4SB44Qz5Io6hpBXehfLtYFcUx7EP=
y7fX26oYtAb8FS0K6-2FoFdDVt2XDNBvrJ0S6aH7BhcYgplJnOoyeVF8SP6CtXez3HloodskSim=
T-2B7Sr8HrEI2V5-2Baxo4qmSwAdUqQw4EUD3xmzfaJVc2FO1fIIVPDI1SI7fkp0yLCT9-2BrXa=
AcdBBWFDl4uubew22NfCOcL9y1dDWAwhBGRf"> <img align=3D"middle" alt=3D"" src=
=3D"https://img.pitchbook.com/news/71124.png" style=3D"border: none; max-wi=
dth: 420px;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</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">Althou=
gh VC-backed IPOs gained considerable momentum in Q3, liquidity remains a c=
hallenge and the pressure to return capital to investors continues to build=
. AI has driven dealmaking and a narrative of venture rebound, but nearly a=
ll other verticals continue to experience stagnation and further dealmaking=
 declines.<br><br>
                               In this webinar, experts from PitchBook, NVC=
A, J.P. Morgan, Dentons, and EisnerAmper will discuss findings from the <a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNSMClRgGvzEGl17UJ2=
k1tDA-3D-3Do89q_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWG=
TWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUo=
X-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGp=
zdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1tjlv0yrKzPS9xSXmxckxzf7C5wzaDuq6l3oD=
6k8QZDKeIlmGcS1ou4leQ2GkN5f6uLSS76OjgGkj2sWjlhL85qe-2BNuRPYlH10oDi-2BzUwcoy=
ef6Kno3rxmzLCKviPf3Hv0Sfd9SSExKcMRqSikssWUme3bZXkYr1ENqo8dT-2F6uePhhd4sXw6Y=
GVkWRjwFKHD6dzz734Zaw3u-2FWaT-2F4JiFua0SdqvIK7g45Z7pxrKDZROJuISDnghImxysba7=
V8qEWfkWiXi9ShyW7cHGZ21-2B9V" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Q3 2025 PitchBook-NVCA Venture Monitor</a>, current VC trends and=
 how upcoming headwinds may affect the market.<br><br><a href=3D"https://ur=
l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNq65PSODhn3gDnCgllN6WYA-3D-3Dwh2M_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94Q=
AwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeB=
CCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yG=
LqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-=
2FjoLhqgey-2BjnP3nLH4vOLF6wb8LtcfFpkw5tXKqlaq4eLqOA2DnkGLEiYXD0kq5UhoqPVKUJ=
-2FMzKgJwr3TPpH5LkKZtjOplli8O8wmfm7Zv3b7CVB0RfqpCDmKaWczPwUxu6imvOQnuvDcNU5=
0JNt3P1aha7Q73Zbx61eWLlq9PFVj87HIGa151-2FGNvjuRlRovorQlnyBvhYsNbEN6DyTV0z2p=
E0sMfwik4qKRYYzXPAhJd-2BCgsbKLJh6ZyKp9c1ULuajdVp-2FA6F01YvSTFVl7iJR6yZoesvI=
2v" style=3D"color: #1D5080;" test=3D""><b>Register now to secure your spot=
.</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">&nbsp;</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;">&nbsp;</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"><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvN9A01or3nc0SVJ-2B6CPP=
sxsA-3D-3DF0uy_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFV=
a0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGT=
WLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX=
-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpz=
dkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1TDekIUEzYh9Zlp9N2NzUYdPg4VxFXb4ko5MY6=
ihMKt0Djp7m47XR4-2FLdTXH8syQOz5XAe5rvUg-2FNCepTvoJUgKSbd7krq9UjsVtreMGxRoHP=
lCFIIsk3AXdYYtxVqnmll8pbVT405VN5IqoyB7WhZuyhzZLjZQSa9FdtTLQ4VnIGes4YZew0cEZ=
Lc46J2Y6LKQWb-2FggYfPO0zec3AcbnMYCpr4DtjuirZuTHeEd5MeMYxGzoQfDiUvo6Yq6kFba5=
GaxVcmchZMsIReNiMhrxI" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">TPG</a> offered =E2=82=AC1 billion to acquire Milan-listed <b><a href=3D=
"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvN0SKs7BBdm-2FR1NKgGvfvqtg=
-3D-3DOVfC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8=
PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDb=
Y3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO=
-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBB=
DtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP3AKBqCuc857VlCpSPJJvF27vYaZoXQw8Jax9kqpeGy=
CvoCp57uMGhVc2US3XCkAKnWMsoZnzEhP5LjPGw32n4IK0bc0-2FZyNRNrFxFp-2B2ZFYd8LF2O=
aG-2FBJOQIqRFzjinaXbw-2BIX4BvQ0iryIHQlEIIAqKj9iL2kuTIs04cvKjejbWNSDAvF3sBsf=
lMF09ssKhLpMoZdIDYw03iWfqFmLmA0S6Mb7nJDcUF9-2B0nP97375z11Kkyxo2RclFz0XNI1eO=
pTjw2xUIPlbiAXO7TeUIF" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">Nexi</a></b>'s digital banking business.<br><br><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNSz5mdz7BFXNJc6CPVBIuCQ-3D-3DKXNc_I3w5d=
9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94=
QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfe=
BCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4y=
GLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK=
-2FjoLhqgey-2BjnP0A-2Fz8Tp-2Bet90fLWH-2FVt62jdB8IkKpyLZDYRmsRgxPHtFMZpu4brV=
k0SI5oJmQJoceIsBZZENHex-2BmqbS0YiMlKsw55KMI9pVeV03614HCs5U3fWUvE29QzFZ8X9QE=
X9DAvv0uQX-2BB6I8gdvuPzxSYVBpnyiVSIOJHW2PbnGEQb5myXQFChKqd4WHsPce4e8dA4vySK=
ebx1PZwd8kSoLldPthJvOGVSYzTsSCH3X2oGRDmshmeQ9-2Bc-2F05HjxXbAYy3Q-2B-2Bnx-2F=
jocgNL3TvjNCBQI" style=3D"color: #1D5080;" test=3D"" universal=3D"true">EQT=
</a> agreed to invest about $930 million in South Korea-based <b><a href=3D=
"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNr1wM2UjYKFjfDh1IiNV4zQ-3=
D-3DAU0j_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pz=
sFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3=
Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2=
Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDt=
HdJ0MACPCH45fK-2FjoLhqgey-2BjnP2B-2FL3T5l72w0YxZsVbVfMQ0FgMI7utc-2BNEPIO3yO=
Yxm-2Bc0lCNJigvVPUnq6b3XNs4Bne29Eef04Nvr5LrsXjyga5KKTtZtRJi2pkqK1Q0ivzNnryh=
8ZyKgUf4lA4asDU8QQD9qmZD67dNpK-2FFrVbNuqqWRpJ7C55J0SczjaLqwgSQQbetGSrJq1SFL=
CrG-2FRKUXpuQXBQ-2BuERYFy-2BAwXSrhsUflxHGLsFYvt9IH15KQw5U-2B-2BUULxamedLLei=
24G-2BTR7DTf5-2FHrWorH7lyPDspLF" style=3D"color: #1D5080;" test=3D"" univer=
sal=3D"true">Douzone Bizon</a></b>, which offers enterprise resource planni=
ng software. The firm will acquire a 23.2% stake held by Douzone chairman <=
a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvN3JBu3hxZGWsqPaz=
2LttOrg-3D-3DdUlM_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivo=
WGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9J=
UoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BR=
GpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2FQtf2Gm-2BTfMKLUUEatdNbgxT5DwEDSbZ=
CgRZ9WpS4ez9fGxYAE9MIFrIdKN0TRe6f6hnpCKH5269ax9-2FnzaE3P66Ne3YMFD0EfZLFqU4c=
G1vjsqw9xG-2FJTOsejszN4zyasTWjRb2DGhX4dn2BxMB-2FuE8a8w9B5iyGoXcp-2Bx-2F7xfy=
-2BXZofrsp6dMSR4xwJ46HEXkq40Hzvafj-2BlV7SWJP0grHnQ7sK0-2FXK43-2BkEip5PmGM91=
xc8glFa022Iis18XRjixYAp-2FZCwg7nrQqvW-2FCe" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Young-woo Kim</a> and 14.4% from affiliates of <a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvN6K169HAFmC2OLNdMU=
kKKDA-3D-3DpIw9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWG=
TWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUo=
X-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGp=
zdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2hgz2nBcV4u9pMOSgNadJ3SDTVZzvlgTKPGDB=
y94b82iCkL5MRPePr2895iybEaLSlGuPqsnxDQnqIdj16YXn1fIZ-2BHGzH7Lz5bNDd-2Bo4bGl=
Oam-2FD-2Br8v542rFU8G8k2qkutx8T3-2FXKk9i9n4B00wFVLchIYr0JG4AlJa1kUq-2B2H2s3=
GWUfeEvwMwqIf8TfevkHKvSwEYLJmQRc3h1H0OJa0K3yMz1OXGa9V-2BxpC8gH33wRUqYNnN1fX=
imZ7eFnXop8OiOc7ow933TeFwjc7ue" style=3D"color: #1D5080;" test=3D"" univers=
al=3D"true">Shinhan Financial Group</a>.<br><br><a href=3D"https://url6380.=
news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNd4-2F-2B5Yr-2FqxASssbq3qHEiw-3D-3DqwrV_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BM=
L94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5D=
OfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZ=
v4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH4=
5fK-2FjoLhqgey-2BjnP1D6Wm4WCOt-2FR8OFj4GbXJ-2F-2BkRyFlfwOPDLRUe5YZGf7RK1IHq=
-2F-2FLmZpafU-2F6gvqhZAH38hOk6TI2CU-2FNAnJrM4cEQLQE9ymxBpNuCnuAQ8kBrSSWyvUH=
qbkkWKR03RdcnC4LIQsDZdjjZ4W-2BSgg7MzwfOiAoI8GVfqD455F21xQRLCZ7dQbJp8L-2BFeG=
PZxX-2BBOMRGQjsObGUzZjNZp1MygZZHObYVOQ2vnl67az8oYgvDMqtR3Flrxqe-2Fkh3-2BrSn=
IdJ3Rw9HwxqIKepIdVi6kL" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue">Align Capital Partners</a> acquired <b><a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzXAGrPZ4TWpew0YjxRyCKhfECdw2iItcc-2B0EoIi2WjzBw-3D-3DVudn_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKA=
s3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKg=
jaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrU=
hX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoL=
hqgey-2BjnP3kTz6i7vogtWzdqkXPbMii0Wmr732SeuhznG8UEDLDq656H4hI2rgR3u-2BWH0Nb=
-2FGURh3O8IMrcoVnM8JPtcGxzLqg4pjtEMTOtOazKk8svOYW5f2i3rCHeAz2Nhhe3BWHjpeuXz=
GJVEXUfeheZvOi0WThK2wNZAgZu-2BosX9DQB8YOU6lJNGDjMAKnd-2BF3YhL-2F8QeKCVfTV3m=
Feo1GFkJgNY5bljlsYUtZ968eExsjD1Yhu7NPR4RdHHjypsdbFcubdiEDcnn-2FxhslGyBmFmEh=
p" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Advantage Investi=
gations</a></b>, which provides investigative services to insurance compani=
es.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhf2=
UyybpgupjqLjAXtV1m7kg-3D-3DUoaW_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-=
2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgs=
Bwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjAL=
quwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYX=
pO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP3Pw6wL9CGfhzb9nRO-2Fr=
6aDrLsalN7FWGaWNjHUJ6Cs6H8B144cLLttKaQRa-2FxDHgju3WiA9iZQbd4-2BCWqNfgR5R5GX=
KD1Qgy0ewCAtDlg1VYfGGdDjiffu8UWc0MCrrjjMRv65tItJDodyGy6mUWbMQRO6w1KTHXMuhC5=
zBIqHNpgoc-2FjqNWPrTsm1QgIxrlO-2ByYphWBNCDJx1twCG-2Bv0moZu-2FUfCOsh2pSmD6wr=
GekUTB8f9NsIlU1xhWZ9jsy24-2Bi-2FvFMw9jy8AkgW-2FLqlvZ" style=3D"color: #1D50=
80;" test=3D"" universal=3D"true">NexPhase Capital</a> purchased <b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhf-2F1dCjccDXnX31ed4EdU=
OFw-3D-3D7bCv_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa=
0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTW=
LDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-=
2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzd=
kBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2ckBJCoQkknDSteNwKvlpP0jhUeYC4eOIOQwG8F=
dxQ9zBWPF1jJX2WF45wH3-2F9Wa8b-2FCJEDlNWdpJ9dC3RIpRuwp3-2BqbXnCwj1DH-2BWk-2B=
Zc9eAba5LwlaGS1u8-2BAdrAljrXtp237DBl7aFFe7l2IVIkkiG2OUrTaK8hLlJ1ORdian1k55N=
px3YfzPnveeMZQ1xji-2FqnQoAXH0fpm6ycgno7c0ohslhD1vbkj7mdB6aoWN9qaQ042da4LNsN=
-2ByAItMXnpSn1rSNmsHZfWW9xWqqi" style=3D"color: #1D5080;" test=3D"" univers=
al=3D"true">Always Best Care</a></b> from <a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzXAGrPZ4TWpew0YjxRyCKhflhex7Tf6FqJpIqyShAPkGw-3D-3DcRwZ_I3w5d9c01gkD8g=
LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3q=
xfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjao=
nROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3=
Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqg=
ey-2BjnP1Cq0gAeVY5NYRYIJbbi5l4YDaCKwJIb-2B-2FVOjHGL5gYVwlS2VwH2vrzLCl0AuZFs=
KjvncMUBCjgHABp4bLDIezue1p4Rt5nJK1mA-2BPdavJ7qrHhdNkfJKoKTkMT2Eif1CwayGl82G=
oyDHOS9Sfq2htuazUZlAPXFB5eWzVQJOs2NTNuHIhKcVxweQBTJoswZF7HnxL2rEMQXyzdfpFwf=
Vs-2BWGxk9ytfyw93iHvcdOmexDQPjnkTn1-2FvAb9aSagtWyvC7U5LEfpcTDXBFBH69-2B9L" =
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Gemini Investors</a>=
.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du=
001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfDUYvi=
LJQvH2xMJmv9u2lTA-3D-3DFQsN_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkf=
gn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx=
8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2W=
HYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP26XLZ53WGXtSyYU9fqlWwZATB=
T-2FkKS3c7F-2FRB4LDFCKs6OX2msXcKEukpe6GtXmFtrZO2Sb7hyi5qmP-2Bxkd6H8MgvrfjYm=
Lp7v49tgiHv-2FMHcmZQIiRMm6pi9A-2BjfmzJI8L7v2j8A0l2Jvl6OemlQ-2BArm1G-2B4czy9=
k4ofxe08-2Bc6uu778Vufe7W2MQjLO63FmkL08adIbiyM7C7LQBAaFUDfjZ8HpNWPbsleBkz84c=
01vgJ4AJIMIoDA8HGzkKcBty57EJdxdxOapAi43IbHM-2B" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true">IK Partners</a> invested in France-based financ=
ial services company <b><a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew=
0YjxRyCKhfEM4h2KmQXc2lmQfVnogbSw-3D-3DWrn1_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6Bg=
U46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpN=
AznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRK=
Jji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP0ZW-2FyPdt=
xGq5eMjBH403CMwTiOy43Jk22PVSkBnD-2FSPbcEmCTSeAZkjGdwxskSV5kra2Hwp34ZFcMebqi=
sZMOBgKl3-2FnqlkulzYId69qCPo9hALJe91HvxKEo2NKAOSu9-2BGDaillWxoR7XQZdkdOYPVZ=
-2B0tPtZ3t9D5kc-2BTSETY4xOeYIoR2TpfzAiObmsSN9-2FwrMTSPmDoxmWc0Vbl0BqiXhuQrs=
BPbKKGC1q79AGhTtoTTSXA-2FGwk46DFYyKqYJ15eWAtmKcCiftQ9fdrm0p" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">Endrix</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">&nbsp;</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;">&nbsp;</td=
>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"padding: 0;">
                  <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
                   <tbody>
                    <tr>
                     <td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
 Arial, sans-serif; color: #78766F;">
                      <table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
                       <tbody>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfri2VL7Cr8NvuhUYd7=
LIx3A-3D-3DT1tG_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWG=
TWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUo=
X-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGp=
zdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP25sb9Rw3QH4hv6sNCQzsrrhVekRT3PUbmc0Dr=
AG6CdBlkKCxdYdsdKCFeXDBBXNioIZwJIaZ10gS4VpHR973Pd0WQxaNqzu82UfC5LAfQGwrJpkt=
IafVSIBZ3JqZpOfj0iNgvuxjjuyHBzqp5CbltaIV3oWhs3QOI7wmLFlVr2CAOgqjyL-2BgvFs2P=
xYgZDPaZ-2BnaXv-2FkB1fR6GLcfpfvukjTnHnE7KFTEF6TamnVf5vyLniDz9xLaa-2F7PhYrxO=
NFtCzflLXbYwXm3mL5MsjP7B" style=3D"color: #1D5080;" test=3D"" universal=3D"=
true">Blackstone</a></b> plans to sell a portfolio of senior housing proper=
ties that it originally acquired for $1.8 billion, The Wall Street Journal =
reported.<br><br>
                               NYSE-listed <a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzXAGrPZ4TWpew0YjxRyCKhfEwIF8f-2Bi6pxvztkq0Wr1YA-3D-3DG38j_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKA=
s3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKg=
jaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrU=
hX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoL=
hqgey-2BjnP3kopAbjGZa9y99d74BGYJe-2BllniQqDkDloLvlVb2sGP-2Bvqs8fYoVxUqXbIye=
QWG78QQ-2FqCGpOIWwN5Cc60yFMgUIbOHleEF56zCxzjl13XjDe-2FLLFGJ4ouL9-2F4ptgFO9A=
FaUqT-2BZzs86LrtpGnj-2F00U7TBWFfDR0x9GEchCH68LtoSCzchj8-2BmBDkoPJDq835UaNfJ=
cRRUV8tRHrr87rYafsnvkiE0TFw-2Bjmp3rHBiqayFYdcR4vTvqT8AfuTKcdi7ZYHgh-2Fj6QVS=
bc-2Frh5ZiH" style=3D"color: #1D5080;" test=3D"" universal=3D"true">NextEra=
 Energy</a> is in talks to acquire <a href=3D"https://url6380.news.pitchboo=
k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX=
AGrPZ4TWpew0YjxRyCKhfEIBFff2VSLMNRE2kydd5WQ-3D-3DQMed_I3w5d9c01gkD8gLzFEofZ=
R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSM=
MKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZ=
Q9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5W=
vZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2Bjn=
P1ISVuvY8OKcrQd6Nd-2BF-2Bl5iU29fLMH-2B36dCayUIFXYL9gx7GFl8agKTnQOqZ1JTdKTTw=
Sr-2FMBQMKKYIhw3lHNJ2O6gF5nnlu39LNT45bSb3sRNATIy0UK-2BJP0VvZ5UkPJWq-2Bkc-2B=
T2SOv9zZ7popm-2FoVS2nYhqukL8yz3WM-2F2mXonYD7R6YzOPr-2B63hxwJXmHVz7NFh5rCCYt=
HT9HT2yNuJL-2B33JfT5deArKvSvX2cCyvacjdjTrprQrY64HARvqKloS-2FtRWvH7I5ECp-2FK=
2mAIY" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Energy Capita=
l Partners</a>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpe=
w0YjxRyCKhfieAvyKzCIicvtqe57L1dPw-3D-3Digwc_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6B=
gU46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFp=
NAznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwR=
KJji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP2C8BmWAHz=
0xBswYHLEW5jsDMu7rpLZTx1e27lars4FojwdppqmLS6AmGa6lKKwk52jHCU6UHhI5m0UcSf3Tn=
2z8sKjz6mEO19yNydhURGEniZqliKNEu40t5EtlCtYA6qKNjrDCR0wZ74e7-2BWLoalsCbJin2f=
eiw4JfTixhyUebwKuah0iu09c61Ut6j9peEIAKuBu7aDs3DLH8O5eFXuhC2da04Czhdsar-2BF8=
-2BKIqFh8J24Ysmseu0dvAZakliW1mxaOEWvWNZDpYV2txOToE" style=3D"color: #1D5080=
;" test=3D"" universal=3D"true">Symmetry Energy Solutions</a></b>, which co=
uld be valued at around $800 million in a deal, Bloomberg reported.<br><br>=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUvx1dWZUzMcU92lL0d6BspAnB1SzneYMh294=
Ldw9sRyQ-3D-3DQBjJ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe=
UgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6BgU46aREOXsgsBwkfgn-2FZ6iv=
oWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9=
JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRKJji33HuoEYXpO2WHYqwHw-2B=
RGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1uMx67R7yALDRBhj4cppSWEm7-2FygAblj=
6uZRIPjbevgfZ6zfeL3B0SMPoaSb-2FXNHzYt5WhqDqVr9LYpHPTvhVQ94C8JVEu6QzZYGR1d2s=
GEetxQQyEkxzOqwehVCdB9CBlmuVMZwsuObNKt9iSPX-2FEG7Uz4zVktQPzHGxsE-2B2YFvHLSS=
tGxiYGrqGgwA4AE3bBQVx3f8gYiDyZVDhube2cJWwgR-2FXMWDhbVuHzfxjO-2FPUbGx7H-2Fn9=
HyzM-2Fn9V7TuGlk2sPYlEkotq-2FuYLcZeWF" style=3D"color: #1D5080;" test=3D"" =
universal=3D"true">One Equity Partners</a> exited its investment in infusio=
n therapy provider <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUvx1dWZUzMcU92=
lL0d6BspBm-2BeH2Gqvt0qqAFYFU2k5g-3D-3DhvHY_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFU7JWZ-2BML94QAwxKAs3qxfTGqSMMKmHzAwj6Bg=
U46aREOXsgsBwkfgn-2FZ6ivoWGTWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpN=
AznQg2KRjALquwx8LS9OHlA9JUoX-2BO-2Ft4-2BK5xYZv4yGLqvrUhX3Rpmnn5WvZjk8i8SwRK=
Jji33HuoEYXpO2WHYqwHw-2BRGpzdkBBDtHdJ0MACPCH45fK-2FjoLhqgey-2BjnP1gb-2FjRjO=
-2B9T-2BqxTur6Xe5d1KtJZXAsKOTcXY6RD977ggVdl2bHmbZ-2Bqdi09TsicB2j0Z-2F3QAfK6=
GyKJZQh3rhbnASRYv7q2ztbtzGJnk2U7WbWCsOfFp85VliRXE31sVv0YO-2BG5xwJ1uqXyDZt5R=
od-2BqYubD7BQ8-2BUqBTwB9y0T6oQQJVAgEru7rDQ2wy3XD0PYnjmAQti-2FPkyiUY6RbgM6d9=
5MxsC421opxAjJIOTqiSTwq-2BUTq17zkp8eeEZAK8hMr1qwGVZyr9bebAJwDS-2F" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">InfuCare Rx</a></b>.</td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
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lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
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cing: 1.5px;
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lign: left;"><span>Fundraising</span></td>
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" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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                          <table border=3D"0" cellpadding=3D"0" cellspacing=
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                              <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%">
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                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUvx1dWZUzMcU92lL0d6BspQeFpmyyYonwBZNrxm=
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TWLDbY3Ow0-2FEwP5DOfeBCCAKgjaonROfBUZQ9e-2BwnFpNAznQg2KRjALquwx8LS9OHlA9JUo=
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jNhB9OVlHvbTRjlWBUtrB-2B0EX5boHC1DPcvYBmPeinVB2rjEpaF4Rv-2BMnBrHz0l-2BQxxLT=
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AkTsgrb-2B9SC6ojQkeNB6pRAlwpbbXV" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true">Lowercarbon Capital</a></b> is raising its second fund target=
ing investments in nuclear fusion startups.</td>
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                           </tbody>
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                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
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cing: 1.5px;
                    color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Chart of the Day</span></td>
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>
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                  </table></td>
                </tr>
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                     <td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
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>&nbsp;</td>
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cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
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20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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