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font-size: 1px; display: none !important;"> How VC= hubs stack up; AI drug discovery startups pursue an edge; enterprise SaaS = VC exits pop </span></td> </tr> </tbody> </table>=20 <style> @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 800; src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne= wsletter/Roboto-ExtraBold.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 400; src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news= letter/Roboto-Regular.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 300; src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle= tter/Roboto-Light.ttf') format('truetype'); } @font-face { font-family: 'Roboto Serif'; font-style: normal; font-weight: 500; src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com= /newsletter/RobotoSerif-Medium.ttf') format('truetype'); } td ul { padding-left: 1.8em; 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paddi= ng-bottom: 28px; font-family: Roboto, Arial, sans-serif; fon= t-size: 11px; -webkit-text-size-adjust: 70%; text-size-ad= just:70%; -ms-text-size-adjust: 70%; text-align: center;">November 26, 2025= | <a href=3D"https://url6380.news.pitchbook.c= om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXb4gCQI3= 4ytkR5YEsOtE-2Fzyi0hjUYhiJjjEilaAKM4tw-3D-3D_1fE_Pr966knuaHmaw6c7pKvB-2BCEi= Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKF= MEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX= -2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0d= X4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydExnuVH-2BL3L-2FS1mAC5ktiVKLGb-2FM9= Nu0tGbCA-2F6jgutzoZ-2Feto4uWLLf5iDOLr8awyEOUKVxUFtrrqQ3HEA5Qlf0kmtIXrfLwAIt= ObZHHk0GOTNzSeuyEncvRxpEEUz8oh9OnEAzQLoD-2BGqta7aw-2F9t1p0djrjcNiDzvCfBsi6u= mBGv54jzn-2BRkbru2dw98Hur9LF4oH-2BZ6wHgwoBhoc4dhizwylIw4FtJXwgN2NjoaIrEzXjQ= lEKy80EtedykpzkrMNOv9QDSCJpMbSjurCj8qM-3D" target=3D"_blank" style=3D"text-= decoration: underline; 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font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&A</span></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p= rivate capital markets</span></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; 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color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Was= this newsletter forwarded to you? <b><a href=3D"https://url6380.news.pitch= book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVc= A8ihb4D-2FjeWf-2BH8kq1gJ9teUBgwTf3yvXRQRwsBGcg-3D-3D8TlJ_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF= -2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyf= MX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4Dmf= eEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWRQVp6DwrYVzmbZ2DHPFv= gCVpwxqJyfm71kI5yB9UC-2BENU5Zz5DdUfMKs6l11ofi9wuYZjybEABVisnLPxUR5gC8A-2BwJ= xZDaPQvW0c9BltJb-2FTBW8Y3bCuaTz3ND7rdbJGSrRYl7qJ-2FWBoQtkL4-2FxGqNZ9Vzj7Pbl= lHCE0o0I01SC4IEWVDSQmxtJ7Dn3EgJ26AHG1mnhwLCoZPodbBpaZ7iFLcZcy6zbxh1vzp1RqM4= KqRGqq9d703ykSoj12hlZJYk7rF6bnrBe0gIQg-3D" style=3D"color: #1D5080;" test= =3D"">Sign up here.</a></b></i></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; 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color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> As PE returns dip, credit buoy= s portfolios </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 = Rod James, Senior Private Equity Editor</i><br><br> The largest listed alternatives managers ben= efited from the strong performance of private credit in the third quarter a= s PE returns slipped from the double-digit growth achieved in the two prior= quarters.<br><br> The PE portfolios of Apollo Global Managemen= t, Ares Management, Blackstone, Blue Owl, The Carlyle Group, KKR and TPG re= turned 8.9% during the third quarter on a trailing-12-month basis, some way= behind the 17.6% return of the S&P 500 index.<br><br> Blackstone, whose corporate PE portfolio ret= urned 13.6% gross, and TPG, which returned 12.9% across its growth and buyo= ut strategies, were the top performers in the cohort.<br><br> This dip in returns was partly down to there= being fewer realizations in the third quarter. Exits from PE portfolios am= ong the Big Seven declined by 18.7% quarter-on-quarter to $18.3 billion, th= ough executives continue to express confidence that lower interest rates wi= ll spur dealmaking.<br><br> "Directionally healthier markets, more liqui= d markets, better credit markets, better IPO markets; that's healthier for = realizations," said Blackstone COO Jon Gray on an earnings call last month.= <br><br> Meanwhile, the private credit portfolios of = the so-called Big Seven achieved an aggregate TTM return of 12%, with five = of the so-called Big Seven hitting double digits.</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJLJDhA= VN9akz4vqVd2aIipw-3D-3DG5zM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dp= X3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkh= KO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzl= BsIOn0Ma1hgZSVPsEgydE0FD4BR2VIzdQJL436qA5FqmYdk2ul0eleNuFe7JScA-2BAek9WVUrt= WvbGGOkTF8T0HFEJ6CYAnmeedixyDXyiKW-2BlaUFp4zdlilpNV4ZBHxzFLCkPUiSIIOyY6pTgs= lrW2-2F48G9J33Jh39QYM32256ifollH44ofYLXdP6kbsFl2KOuEQLmi8uTJIqUHi4XCOsJm67M= PrfaUrbsnRPDUrCuB99YYYdaoKvq48p2UR11jyeukYezWrMFUKbXNTCHW-2Ff7alf7cNVtshcLZ= L8M9WvQ-3D" universal=3D"true"> <img align=3D"middle" alt=3D"" src=3D"https= ://img.pitchbook.com/news/71581.png" style=3D"border: none; max-width: 420p= x;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">This o= utperformance is reflected in fundraising. Fifty-seven percent of the aggre= gate inflows of the Big Seven went into private credit, bolstered by new so= urces of capital, such as private wealth.<br><br> Tapping this channel gives managers access t= o scalable capital and fee-generating assets while making them less reliant= on the support of tapped-out institutional investors, write PitchBook rese= arch analysts Jinny Choi and Kyle Walters in the <b><a href=3D"https://url6= 380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJBJe0YNsFYfMBasn5OMcbzA-3D-3DdDyG_= Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwm= x2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6X= K7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tz= yLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE-2Bx2xi= fY-2Fh6hnynulO2NDfe-2BkUyjs8pZYM-2FQsj8HOBh-2FyCM7jzOpxIi1fzOUAC6c6xcOrA7om= HfM8BUVUwQSfDSfu2-2Fcunujzgc9-2Forj-2BOtYKj2xHcNiK8gmqO5efD6ZujJUVzVyxQz0Rv= Z2j0clZa9hs1tdb6oAYfQp7J3KttlWKvP6wTfBbx2JMml-2BXA-2BCc3fxD8uPkXAgujNDXATy2= KW1hZ-2FXmACGtM525iPd6wXlOPmLbJm4I8SwAqxArheOb5IQvyg04PK6xJgGymOYs60-3D" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Q3 2025 US Public PE a= nd GP Deal Roundup</a></b>.<br><br> This funding strategy brings risks. A flood = of money into private credit is likely to put downward pressure on returns,= particularly as there is a growing pile of capital competing to fund a rel= atively weak stream of PE deals.<br><br> "We are seeing a trend line up on deal flow,= but not to the extent where buyers of paper have more leverage on pricing = and terms," said Jeffrey Griffiths, global head of private credit at adviso= ry firm Campbell Lutyens. "It's a good market for an issuer to go out and r= aise debt capital."</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJKq0ldg-2BapRwjpkkuFu7zUA-3D-3= DBTq3_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRH= LboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY= 3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWV= C7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4= vPCYUZIDuhcqBM572lhd-2BrsgTanybI7xGQ-2F98qIjVkjrIIssqQT-2FKPJQ8q58E9FoUNAxH= j-2FUxP4-2FxJb7dJVe9D-2FoxyFX1gxUhrPqr3eQo5038RClJnDOD8H6sDxep3gcqWjPQhOGxy= xaBKzRWv5ySD6jeQh53QVZ8-2BdKLPtKXjRpZCqnzUVN4vIJ6mVNrVKDmGWhbcbMIg3qQ42Ebl0= E2E0YE7IWBp9iBjR-2F7oT0tP0ffNsOgyKf0KmhGPtRLijX5str-2ButWDo1iTodkik3fE-3D" = style=3D"font-family: Roboto, Arial, sans-serif; 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"> <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 article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeW= f-2BH8kq1gJXhe2mO-2FKO2ubiORtj4LlgA-3D-3Dxgzd_Pr966knuaHmaw6c7pKvB-2BCEiDnj= 5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEF= PRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2F= sAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4y= Cov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydEyVRTt7tj1A-2F7fg-2FvMAQtDk-2FoS52ecM= miQUMYZe9LdGqoQfDsHYpUtMQO5WpUwK7qVgp7Z6f7rnIquNL-2FzuCGi7dVOyBfCWUBHxn90aL= KBRT16g2cdD6leK-2Fv87fdjTFTNLcXi79jIEuPgAiA05BczRIz0qbS0qjho3JtYlMYJouvF37t= sZVWLjmNcMZ2rLGh-2BDE7MFLL5pg4iWRTjfofec5cfVv31PodGO8Ju4vL0okKVoVOnhhfVtcIn= bR3iw1h-2F9xZ7-2FfeZOr-2BcXqexBNw7k-3D" style=3D"color: #1D5080;" test=3D""= universal=3D"true">2026 US Private Credit Outlook: More LBOs, steady-to-wi= der spreads</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;">=E2=80=A2 <b>AI is co= ming for drug discovery</b>, and VCs are paying up for it. AI biotech compa= nies raised $3.2 billion through September of this year, according to new P= itchBook research=E2=80=94at a nearly 100% valuation premium to the rest of= biopharma. <a test style=3D"color: #1D5080;" href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzVcA8ihb4D-2FjeWf-2BH8kq1gJnJQEouQ1fF33RMUAkEWNkw-3D-3D34iP_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY= -2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk= -2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1= WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxb= eOhzagCfwIFJQceq6smdZMoBz7sUYKxC7LK5H9gjZNm7Wf0IAf0RcKQZM2cbRSiaSFGH4zAF-2B= okj8hUCS-2BLQpmAmcTY-2BDrf3d4XBQ6LPWfyNVi5dUe59FG-2BHFCcgrsQYab1Xelkb6qYvVq= DYlTW-2Fg1onAFuBim1MO6wd5B1KsPOnoTB0I1q7Qgvb2STfCRqdt5Vz93ZI7M7Bn-2FTgeNyyw= EHASMoK3xNCN5fH3SaNSnjAd78Pa6nlJ7AMvZ7KEwZHb5DSSg-3D" universal=3D"true"><b= >Find out more</b></a> <br><br> =E2=80=A2 <b>While European AI valuations ha= ve hit an all-time high this year</b>, the share of down rounds in VC deal = counts has increased. As a record flow of capital into AI startups continue= s, many investors are expecting a market correction. <a test style=3D"color= : #1D5080;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJ-= 2BOGUhY9j2Ga1SeZ-2ByaWHhg-3D-3DQ64w_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQ= P-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2B= T0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8o= tJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DL= G19qLxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzajiH8W7S9-2FRZfgWhET4WwOy4= -2FuDVazTeIJDcKtQsIv4mf6iInwN-2BVb4MF3pP2FWa1be3zh0-2FH5ff9oSk-2FuFZ1MhtINv= k7tec6HHo7aI-2BCz2wOkMRpvaoeks2318wztyHJ0XvWqSRJCJfR7-2FfpOmALD2vzrHblEgm4x= AMeltsiNqCZcgWa5BatBrxNq5UYLW-2BFAt6VYozTt1zk54AIID5Ta3IpUnByjXsybc6lmyvLpQ= 6wP2RZe3Gdn8bWm0ZpMYZBw-3D" universal=3D"true"><b>Read more</b></a> <br><br= > =E2=80=A2 <b>VC exit value in the enterprise= SaaS market shot up in Q3</b> as AI fundamentally changes business softwar= e, according to our recent Emerging Tech Research. <a test style=3D"color: = #1D5080;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJuLs= liW-2BXaqe3JEAXmvo1cQ-3D-3D0fKC_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GC= Q2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRN= DZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19q= LxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzajo4FXaCJrNRrEfO5KVEE1Be2hdYbZ= rui5Qlk50qSXwUI-2Br1lwO4EO5CLk4YmG4ZRkyKAqYFUnY4Oj4X98ikW9evDcDvO98z2D7l2UT= iydrcqZna1c-2F29L4OwUuAyPx1-2B32DvSa85kHvIEcnLOUV-2F0tvkh8ROl-2FuUIfruzppmV= V8vKsdmKZD54x8J-2FVOaxROOMwx-2BNDmIuiktxOgSbgiW3D-2FjlAqh6wIQD2ROWYr2rl1jSE= ZzB3tSykEmOnkMd4WzA-3D" universal=3D"true"><b>Read the report</b></a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_575012" id=3D"n_575012" 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;"> US VC ecosystem still finds pl= enty of room for growth </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 = Nalin Patel, Director of EMEA Private Capital Research</i><br><br> The US is cementing its position as the undi= sputed leader in VC, even as new regions rise and others falter. Our <b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJU5zetSvlzfMBH= T-2Fcp03zPw-3D-3DW6WK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43= kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh= 932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idq= EHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0= Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzaiW-2BJSFGb9rqiHrizxVKtKUg8BLvcUiUohOiV3= 3qkDed4a00U0-2FKOwJvE6jwbDkpOzOscZRKfCEO-2FlJLcJEg5T2LBn-2FcrQ-2B2hSdcmOMGK= J7pom7KdUEwVsckHP8a1wPqAOmcKRLTKWH2twWlTDpRCH60XDuHAFP3mqZlsJVJuuek-2B0s6uy= HVoftgeVxEK1RZ97JxBSCE6Z8mmy8drrD2J8udxQ0T-2Fdc6pEyuoK-2B68vPXe8-2BaS3FP5Rf= kyIkkITrSrc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">glob= al VC ecosystem rankings</a></b> explore how AI investment and geopolitical= dynamics are redrawing the boundaries of innovation and growth worldwide.<= br><br> According to the analysis, the US maintains = a commanding lead across overall scores, which blend development and growth= metrics. The former measures the size and maturity of a regional ecosystem= , while the latter measures how locales are growing relative to their peers= .</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJCcUaM= cLjcl2OyL5eOspN0A-3D-3D1Q9h_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dp= X3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkh= KO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzl= BsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzag8hXG6eTlRRT-2B-2FcShhFIJ9VTubLYC= 6fZLPzH3DqOeuSleYPnVVzzOdXWfaiEUDa6IK7l440pnQBywGwZAhR1Du2heWwindlw77mv-2BK= ai16bMj8BDO9xYhRZd8NuEwYRo46HJE0ZSf3HyJtwQRjnLT3Jx97lFoh0RptW6Qu56UQNfnKv3P= 3-2BjcTsCCmwrMm7eaDJDnP5sxXC2uY6BfHDqXawg9-2BY-2BCIwRYKeRr6-2F7eT3efp443DT5= sWBlCKBYLhPik-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D= "https://img.pitchbook.com/news/71571.png" style=3D"border: none; max-width= : 420px;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></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">At the= city level, San Francisco remains peerless in VC, topping development scor= es by a wide margin. Nashville's emergence at the top of the growth scores = highlights how emerging US markets are gaining traction. And of the top 20 = growth ecosystems, 14 are in North America, reinforcing how non-US hubs con= tinue to lag in deal volume, round sizes and valuations.<br><br> Despite an overall placement of 19th, Saudi = Arabia leads all countries in growth scores, overtaking Switzerland, which = fell from first to third. The UAE ranks fourth in growth, while 11 new nati= ons appear in this year's top 20=E2=80=94signaling broadening global partic= ipation despite the continued US dominance.<br><br> Unsurprisingly, AI remains the defining forc= e of the current VC cycle. The US is the leader in the VC-funded AI race, w= ith US AI investment during the reporting period exceeding that of the next= 20 countries combined. In Europe, the UK, Germany and France are the top A= I markets.<br><br> Fintech and healthcare show more regional di= versity. India ranks third globally in fintech after the US and UK, while E= urope dominates healthcare innovation, with its cities claiming 11 of the t= op 20 national rankings. Meanwhile, Boston reinforces its reputation as the= world's premier healthcare hub outside San Francisco, affirming the enduri= ng global reach of US-led innovation.</td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #40C2C9"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzVcA8ihb4D-2FjeWf-2BH8kq1gJCcUaMcLjcl2OyL5eOspN0A-3D= -3DrTDp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= RHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30= PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgb= WVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgyd= ExoPTFzVI6JONJYxbeOhzajAhup0Awo5zrHRS4yxLnUKV48tEBhY1jm9xIveDFRoclHuFvUZ7y6= fB3kSbt8WsdYbQ1V-2BUQPlZDUpp9l9w00n1uAyQslWz8yiVpLFXANFeGrvhqy81F81NkJyEAV5= -2Fql1pNFHQbCVD7hVxzz2Vj4-2FqagKJJyq2l5M-2BXKiIiKyc6u1pHJ05R7Zp-2FiMADFIqtb= Gpmg9vYDuXVRX3h21nh-2BnuMGKip5pcKqaWhD9BWZ22ot9KXLRO6dXAOpn7MfJ-2BdM-3D" st= yle=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-decora= tion: none; color: black; padding-left: 3px" target=3D"_blank" universal=3D= "true">Dive into our full rankings<img height=3D"24" src=3D"https://fonts.p= itchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; m= argin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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-2BaqM7ONnvsnswouzXAfcWR3DXAK3My= Z8g5-2FI5Qz4efwhSqHHsZLFinVv8EOQ-3D-3D0qXS_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRj= aYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAi= wq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov= -2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzagu7XBolHeI3EZqFG5L= uTY38-2FTDPQk0RGoABUYyyoKPJE3zF3xp1FLGUh2L7cSa6so5w5G-2B0ED8Wd8QV1wIdhF40xx= sBzrgPZRGiVuNLWMWBEZ2unqp9gdG9cIZI4MxdrEh2Dijec9n6JOcTm-2FfxzfbrkPU3wIqoepG= CKL6SRsAl5I0FWdd39VNZjiqwiWQYc0kLcb8jIEe5ofYcVIklFP-2Bp3peShypuqCn6w14M8kB-= 2B9-2BDJo6BEZiYAV5lKgKyP4s-3D" style=3D"color: #1D5080;" test=3D"" universa= l=3D"true">Q3 2025 AI VC Trends</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Side Letters</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma= rt reads that caught our eye.</i><br><br> =E2=80=A2 <b>The accessibility of GLP-1s is = shifting their marketing toward cosmetic weight loss.</b> Despite drugs lik= e Ozempic and Wegovy not being approved for people with BMIs below 27, tele= health companies are promoting potentially dangerous casual usage of GLP-1s= . [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAfcWR3DXAK3MyZ8g5-2FI5QJGC8HFaD2WUE2= yUBzIEYZA-3D-3DqJ8b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh93= 2VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEH= Yl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma= 1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzahqcCmH-2F9BDjTONYyjd5sgPRmhqpiQmvkNPlAZtE= D-2FIMx4vOr0NtjZu9kobT9FlTGfpRr8bsT1jrlykDY-2BCRf0JnV3EbRCdE0QoROr6K9bnW8mM= Kahn2Cw0JUP1XJvVQw55z-2F0jxb31p5Z8rnYO-2F4n3zFf-2BwNiN-2Bs67jIU13p0EyBLXGu-= 2BOIGuDeRSkG-2FuUoIhM28tCuJ5oAqDHqtkDrjX-2B-2BnMwM9pdO0Rr6q-2BKlLIUvq793ARs= -2FuBEkTrqmXR4qKo-3D" style=3D"color: #1D5080;" test=3D"">Bloomberg</a>]<br= ><br> =E2=80=A2 <b>Longstanding investors in PE fu= nds say the flood of money from individuals is costing them deals.</b> Weal= thy individuals are reshaping PE, and some institutional investors aren't h= appy about it. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAfcWR3DXAK3MyZ8g5-2FI5= QXClOYSCeMhFE5OuwyP48wQ-3D-3DBFWo_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0= GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJ= RNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG1= 9qLxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhzaijP4clp4xX6ZwJNDET76iALnujh= TresE9DuOwKP3qcUDxGu7F674aySuF8acH7giHpz0PAk-2FOzfc4-2Fpm5ztd-2BVKMeoSdhU7O= H7MFCVt5eZiqZ-2F0aO8NWshqrOFlrGkUA8Jhvxsxc4-2BpM9t2ySneIzSLXSS7YBT-2BpLTjDa= -2FVmAfQ37shn0hLcZEvWUgu3mmdahK0sHbZAjOcKKR7UTXa1e47rMOX1oe1dkPSi4GlHPT8Dj4= okWWELnauDHYxIojYhY-3D" style=3D"color: #1D5080;" test=3D"">The Wall Street= Journal</a>]<br><br> =E2=80=A2 <b>Ahead of Black Friday, consumer= faith in the resilience of the US economy is hitting another low.</b> The = affordability crisis continues in America, with weakness in consumer confid= ence and retail spending through November. [<a href=3D"https://url6380.news= .pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns= wouzXAfcWR3DXAK3MyZ8g5-2FI5QxkODmVpcMsBYA4UYi4j5kw-3D-3DikZt_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2Bvw= VWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4e= VbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D= 4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydExoPTFzVI6JONJYxbeOhza= jLhaX6PbADbwYDy1wNaUSu9riTAAkWVzBULiUHqrwMPydDDWh8ipfJbiQXY6SerEWqs67Krge8b= 11A0pLtoLt54i-2BFxihTGFvDUfQDskbpwgRwajicmIrtIZBcm7mnK-2FZZMDhsXK6UJ-2F6lLV= fFJ8YRrAuqLYeUAPQHZH5FW4m9lYsUdP-2BZJVJQZg7Qn3pmB4PW8Ge453iiwN4KOOZG15Umat0= awsxX33xDdp7zG-2B-2FAp-2Fb03B4bJFUsT3B1TS9ZpF8-3D" style=3D"color: #1D5080;= " test=3D"">Financial Times</a>]</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td 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-2BaqM7ONnvsnswouzXAfcWR3DXAK3MyZ8g5-2FI5Qn9vBLTSVAcIRdj1Oh4Hitg-3D-3DL= _w7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLb= oFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3f= wV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7= D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bb= 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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;"> 799 </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;"> 2390 </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;"> 911 </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;"> 28 </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;"><!--[if mso]> <v:roundrect xmlns:v=3D"urn= :schemas-microsoft-com:vml" xmlns:w=3D"urn= :schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria= l" style=3D"heigh= t:43px;v-text-anchor:middle;width:148px;" arcsize=3D"50%= " strokecolor=3D= "#F79B3E" fillcolor=3D"#= F79B3E"> <w:anchorlock/> <center style=3D"color:= #000000; font-fami= ly:Roboto, Arial, sans-serif; font-size= :12px;"> Request a free tria= l </center> </v:roundrect> <![endif]--> <a href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzXAfcWR3DXAK3MyZ8g5-2FI5Q4zDP7P2tZ68zYntYCORq9g-3D-3DL= bZA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLb= oFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3f= wV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7= D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bb= Pi9rgcWjtVCjwEAVGOVYQkKNsRmaQ1KteMmMWOtnhB5yUA7-2BDtfUbAgnNkMB90pkBRU4m9onw= zWPpffXgZPstMALAeoTiIvBc8KyZ5Df-2FC4i0CfRVdQBsEICCPaQqFk2nZgH5Cy-2BvEeiS9fN= m6up2d6-2F8yZV-2BNjnIsgiZRFZ5AK-2BMF-2FZHmL9YDWxdrhGmXVi6v0y8AhS9cNREHXJdwO= 4bUnLkxnGjt-2Bdz9tqgjHQH7ZPqBeaxxIzI0X6wKYIjJ7Y6zk8b-2BYqo5jtObNsvNo-3D" ta= rget=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;"> </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_575016" id=3D"n_575016" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> The Daily Benchmark: 2017 Vint= age Global PE Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 75.51107325383305%; mi= n-width: 75.51107325383305%; max-width: 75.51107325383305%; 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">17.73%</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">23.48%</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-cash-multiples" style=3D"min-width: 100%; table-layout= : fixed;" width=3D"100%"> <tbody> <tr> <td align=3D"center" valign=3D"middle"> <div style=3D"font-family: Roboto, Arial, san= s-serif; font-weight: 700; color: #1D5080; font-size: 18px; line-height: 27= px; padding-top: 5px; padding-bottom: 5px; float: none;"> 0.83x </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= swouzXAfcWR3DXAK3MyZ8g5-2FI5Qyl0EIoPadJEonSdb6Nyelg-3D-3Db5kl_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2Bv= wVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4= eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9= D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEAVG= OXL1QAjjfEfQl9l-2FIWdGXinljKDq4FdQFdIYQhqGwSHgzlWzphgzBwhCRZYYTDX3n90GTQCDY= z7pKsSoxGzcPtS-2F1iD3Y3F2W-2F-2FblBLrjX6w4LqEI7XZB4zbTdGYlkIvzmacPsRfCud8EL= BYmAb3pfWPSU4pkuvYvEfAdPodBrIu7ARHpidK7c9ph5o4-2BMKfy6yFvcgxnS7ZnRyH4pL2XG9= QPFbSW1W4LxITfQPxSoeejDkNmykSW3INf2YRgvQ3Vo-3D" style=3D"font-size: 14px; l= ine-height: 24px; color: #1D5080;" universal=3D"true">Spectrum Discretionar= y Overage Program </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= swouzXAfcWR3DXAK3MyZ8g5-2FI5QAHOhu-2FrNKwKcXpZ0wLWE-2FA-3D-3DaDhQ_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY= -2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk= -2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1= WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjw= EAVGOUPrWjAadKj-2B4SprKTb3EKtY6G5DqOeHSTU8UHcKYgbrGLGQtOCI5dCHlBGXZ7yDB7aWD= kexkRTWuiR8Ei1atXJT51Nvkq-2BUPj0ef1KxlVvZYL2VPpwZCRsKbsO7jZr6Y6BZ4Lj7HQNKO-= 2FGOF-2Fum-2FSr4-2BlVVCmmNnaDXKyS3lZCE5GB4LTR6xPiutZ1lof247N-2FxynliyuQUf7M= EtFP81bVM1h0Bnmv40eqsu-2FJ5wF2pIW94fuyLSDyQxe6LrKrui8-3D" style=3D"font-siz= e: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Summit Part= ners Europe Growth Equity Fund II </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzXAfcWR3DXAK3MyZ8g5-2FI5QHAh6M4NOQ56jl-2FOvDn2JEw-3D-3Die_3_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2= BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2= F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WT= S9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEA= VGOVdBf1XluFi0o5kuRtDOpLW-2F43Ul6lSpAraxpLI-2FnsXQSMVRDsHGuamztvXxeBcjJ-2Fe= OXYT4vy7IFdzwuICBU3TOqC-2B-2FtMT8-2BPucLbEdOG4RrcIIcvLthOI3W4Bj6XR50E9gTTrF= WqzbkstllPpDIIP0RhHi3-2FFsfo22-2F-2FTRt46CL-2BWkJzUhM3FEhdxlZt3rbL4G1e2ULLj= z4xf9REtFUbY-2F-2BI1mfHpBk8YZ-2BOnn9Bnfim8zW4dpP1XYdSYs6xsa9k-3D" style=3D"= font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Gra= ycliff Private Equity Partners III </a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"font-size: 14px; color: #78766F; = padding: 25px 0 5px 5px; font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td> </tr> <tr> <td style=3D"color: #1D5080; padding: 25px 0 2= 0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAfcWR3DXAK3MyZ8g5-2FI5Q9ixs= w3xJYpj2B2wmEpd24A-3D-3D9RU9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4= BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2d= pX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZk= hKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxz= lBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEAVGOVfQAOmyUsl87c3Y-2FJU1d5tTDp00TsC= EX60JYq2uWRj6y-2BRNGgTUVBozDsScXhqPZLAa-2BBuhOBgU4BL5Vjq-2BqlAu4V-2F9xBDP8t= w1QDeSfCFlzh7-2BW8rKu9RD-2FYiE12aLTc-2Bzkye9xkVFQSv4turCLYvw2yCrYHBX4bXY2Cc= F01zZmb33D9-2BKiIXQ878Whv60EPFBId5MNmZx8QHZm0tTziqyDHdvBqG4RwnU783jNl-2BhnB= VcfyYuUgCujhLxghqp4I-3D" style=3D"font-family: Roboto, Arial, sans-serif; c= olor: #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" unive= rsal=3D"true">121 Funds in Benchmark =C2=BB </a></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check = out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZ= V1jmx8ezDcovxPTSKtwiUKR4w1WxrHEZC-2BfaA-3D-3DqNnf_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxK= FMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9i= X-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0= dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEAVGOX-2B-2BvZBf= Qc33tW6wlq-2FtPxD7xlrOsqds0J09KX2-2F-2F2q-2Fk9JWlP8LR2WKiUebgcS-2BUOyUz-2BI= ok6QdB7da4fhBpfBfHt0jJWWmPoSGLWcn6AgShJbIH-2BxSnhqpMhKI21-2BxscfYbOkVVsvTft= 0S-2BRWs2dVBhddt8PVXxYzf-2BFCf6qjBtDPbmQWHznsXLjW-2BmsLTTWhyMp-2Fr7MD2QI-2F= i7vycp8A1tEYvEZ-2F-2BWE8-2FX845GY3N8EPOaVSD9bhg9NbE70tGqI-3D" style=3D"colo= r: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>VC Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">France= 's <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPTRZ4wWNkq= XvIW0ZARZUbaeA-3D-3DthG5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3P= Qlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6= idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsI= On0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEAVGOX2RxXmiNFYos8eEwZl0YsGLzfq5kYbhPD9Aj= qTX7hGDUNI309xtQgYBYd2ufuNCqQopXFc4cm-2BeZOApaYhHtOu4tmNpJhFroNWXec9D08SDrm= FtVXIuT-2BVc9SD5wCFuIORwU4BHQtlnwMPutZQGJJ7m3yoj0-2Bmo7gpdOVDBOaS4XjUDVaHpw= SLHLYW0An15icCDPwyHr6kAqk4ZsB31K-2FcoBgDlMpAv0F1vaN3Sk1pfb2QHJBtFfNjcx2XyrW= 0TeE-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Pennylane</= a></b> is in talks to raise a $200 million round led by <a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPTzlqE-2BNEBwZFUdwmaTil3fQ-3D-3Dz_B= T_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboF= wmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV= 6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3= tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE4bbPi= 9rgcWjtVCjwEAVGOVF3p2PJgxKPr44mb0P0OUvs6oX3PkYggAfaNJm375eajOSFj0EXVa-2Fw0K= Bv1d-2BX5boBCO20L7wb07mLHB9Dbo6pfREZcrjLYNsOpCfaRwGMAfrv6G0tD0aif4wc-2FfbXj= VESytzyL-2FawYrpBGdMU9xt0ar-2FvvPRYBbdPmIFYXYXaTBDIZvx5dQIhSPu-2BX8LEra4H-2= B2ccnLTrYqKlruIXdxporYrveXw47aZFPelkVEM8KsXF3ZXu6vxa4nUt5PK9IQ-3D" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">TCV</a> that would value the= accounting software developer at around $4.25 billion, Bloomberg reported.= <br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPTG= XTQ2sIRiSDKPZo7Fv3gHg-3D-3Dcwe7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GC= Q2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRN= DZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19q= LxzlBsIOn0Ma1hgZSVPsEgydE4bbPi9rgcWjtVCjwEAVGOWLdlZ0ZAvXBm1P9qd6lVEUpWVdDY1= JhODe8qIK9VkwQikh1A1WGNV-2F3nc4fpRCHXyhzdGn-2BylHkCQVXJHQ-2FOxNSSolhLEhnwGU= FP1Di0rrSQ82CigYcZ4eIKNbtxq2vvtHUC6WUjIl59WrxlRzvs0Xb5MtbZ-2Fx7eveKsC0pSwGx= VzDDz2p-2BTcebX4L-2BZnUsR4kyaBm5Ts6BnLKfHO3qSRZPRey7-2BaJLO8Z4xUUekZ-2F0-2F= i26p8NNl2v2L-2F7WkaiZgY-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Husk Power Systems</a></b>, the operator of mini electricity grid= s in India and Nigeria, plans to raise $400 million as it prepares for an I= PO.<br><br> Financial planning services startup <b><a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPT4OBVCXikRC39EHxIjHY= MqQ-3D-3D_Frt_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U= YA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQ= IQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLz= czeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSV= PsEgydE6EraXZ0bKTOVM0n3Z1cOvfakjDXx6CoshjxMAko1pW55JIBQog9uLRaTmUYnCBx5i80E= FrUvBqo3zy2kRSnrGHPu-2FW2mG-2BtrELl7duYk1QrPzO-2FYCyMhRtargh5Q9QndIzygQpeSZ= 0fK-2BHHpQKGyG9Yq9EPR3hJQRKN0P19yJ8rKLtiPuBzHMtd-2BjvnSzmNuliYeQwmFfKJoWmBa= UyRjP0FKroLa2D-2FBn6b1AxMaHZVOxmENcLDnTQ-2BhW7OFAsizyX3DhWJ621f6wtgL-2BPM15= c-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Range</a></b> = secured a $60 million Series C, Axios reported.<br><br> Chinese biotech startup <b><a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPTRrQofMpB4FONH0Cew8dO-2FQ-3D-3D7= snh_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLb= oFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3f= wV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7= D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE6Er= aXZ0bKTOVM0n3Z1cOveMsP6WEU90t7DhRnGBNrkba1OLgyitAg-2BwDoezSA1BQ0CqGLlGjyBkm= OordmNKp5rmJQXRHLcQakMmtON-2Flxe-2Bce8SCMUYmP2tmpGRCEA1XVt9ja-2FO9bFg4mx6nu= kTp2c2DxyUENho6XLPpKOG08EmZuROu115EwI7nnM2BFaTaSWz9TkzAOnOswm9Ny1k67Tv5qKIP= QHJwpcNrugYcB0jp49LAdygwNm7gKm2Dv4zp695nazdIZVlgg0LOYvr8DQ-3D" style=3D"col= or: #1D5080;" test=3D"" universal=3D"true">Phrontline Biopharma</a></b> rai= sed $60 million in a round led by <a href=3D"https://url6380.news.pitchbook= .com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVM= Bx8gZV1jmx8ezDcovxPTEvvyfwTN2ouSxmiKxDbpFg-3D-3DtZbb_Pr966knuaHmaw6c7pKvB-2= BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FS= axKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9j= c9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQ= UX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvfz0GuciS= TOoT8q55SAIojNhkiIVxC2tPvVosbYZHf6jeligrTjFE-2FeE0SeETH-2FZQ6LD5-2FgiFBLyCW= 7bGvTOXWzI-2BEYPyT3KHZBMXykaiDUT8vyFt4QNpted053DpeUPNEiHRajWCdv-2BQI-2F0fCP= euA5IgJGVCVoY-2B7DTsFaIqvFLSdiMzzn6-2BVSrNOZ-2BInOzdYNayLzqBHcSCtyQbm04M-2F= rYiFelpmYTfoCubsqnoA-2F-2FvyWMKRaaqVr2pf6xJ4VFZE-3D" style=3D"color: #1D508= 0;" test=3D"" universal=3D"true">Lapam Investment</a>.<br><br><b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDcovxPTmRPZivHpYX2w4uGyW2YINQ-3= D-3DoNIy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG3= 0PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDg= bWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgy= dE6EraXZ0bKTOVM0n3Z1cOvfqG6KkQhqVFmFDx1X-2BGTMlHACqqu3nzM5gsgYXDyO7D7hw3uD2= Cpx3fYx3NPFsxngs503JJvoYrdmXnTrlTI9Mm-2Fd6gWfrWvuLARsHexu-2FSsLuuzjrfbXNFV1= EGs4rhNoyv0aIkaCh63vrZF8f9Ep3ThldrQsYxVPNSsacQGQ3S-2B3KOBEXbiAchRbpXaua-2Fd= WHCvwwb2jSLdNaiBzyVVur4SBzwQmTYvlyESKeeqHCqEEmJ14WWeutzwcx8ZNagSc-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Cerrion</a></b>, a Zurich= -based developer of video AI agents for manufacturing, raised an $18 millio= n Series A led by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic= k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVMBx8gZV1jmx8ezDco= vxPTJUPEXrhTM5mUnZ3tqz0oTg-3D-3DD-Wm_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y= QP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2= BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8= otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1D= LG19qLxzlBsIOn0Ma1hgZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvc9B5AjTfM7mhoN5-2FU2JnUe= WRd3ujOO2-2FXYtUoW-2Bs6PRLWKUMPAZu8a8AVWc2bALgZCVsBkeJvxqfl6EItcKl581g-2FA0= A9eVp5ClUqP7vodSV4PbE3lTJzUY-2Bi39o6WyBt4VKazUVs8Jxt8Q5QY5deCoZDQEHyroRPZe-= 2B3CeubR3BEXz6uI4jLbdwLsgTC-2F4dtgrrmqi5fpvhz4G51-2FqdOZSlNJg-2F9Lp6GSzBjrE= SruZXi-2FPbv9YSjEW389qwM17co-3D" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Creandum</a>.<br><br><b><a href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zVMBx8gZV1jmx8ezDcovxPT00o6cIm0yscoSNxOCoHZ5Q-3D-3DrPWf_Pr966knuaHmaw6c7pKv= B-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-= 2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfM= X9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4Dmfe= EAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvfSBs6= vssZjulRYmWwCqB97vtWjMdltwEzu1VnnoGLjLcHCXHr33MzzBQExpHpJ4-2FeL9oGDRmGX5WCj= wyl7BxkpW0HQoVQhGJav4JhCgIZoH8pbWvMk6pOwpn6398-2B8RbCcOxmVLx3PiHzFsXRbiqR6E= q-2FmgfBUnIJZpPQM261wpjeGYL2R9Bg-2F-2BZ4eRnxVOE1K8jqR-2F8m0XycTqKwjkTY9ZrJg= 3GzYAkFRRJssk0fJ99Ji5htcXW-2FytykWd946kCU-3D" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Vijil</a></b>, a startup developing resiliency in= frastructure for AI agents, secured $17 million in a round led by <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FZCQ-2BlDEDglupdrbPT= v87nw-3D-3D7SWN_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZ= NQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7N= LzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZ= SVPsEgydE6EraXZ0bKTOVM0n3Z1cOvcowiMbMLiKPNyporPRU5Eqc1aCXnqrJZ7NZUyYaP8F9V4= Ogyzvhs0aqmOZDJKXM-2BXSWjxTSaoz9mXpq346pQjvGbcuNu-2BLgDXBlhdkRUciysnPHHnLwz= XMOn9yAHQnX7tJA05HEcxyYlhYrXdfXqLzzPoDvAxGjG6hgJ-2BIohvzn58Lvy1eCqkMqbzokAN= mrUiJDt4j-2BfDr6y8-2FW-2B2OPNl6OPGMY5zRseFn7QGHMrig8z1M4kZ0r4jYN3VP5BPsl3I-= 3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">BrightMind Partn= ers</a>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q= 3Hjq-2FQsC21FwvirGhGss9nH1e6g-3D-3D2HOy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY= L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYi= R-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4= NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2F= e1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvcZdHhgdvnKlDSrbHXu3cm= BTNa36P-2Ff8r8blhjNrIAY-2BjjXXdXKte48W3PcmyBIA8-2F39SCGYxvzYtNWWicqxO3meyrb= kpADMNmV0v5Y5HTKJkb-2BWNihwsk2mcZttpeHwOsCBGQzFwEr2oIiOECqJYQB0lRytt8kYGha9= IWihM3TRmSfYBgffLEkWRmlGtV2nrVlbAJloPS4PZlPPIMqFeyjUWAkausrmJIFCgBt-2FJ7YQh= juB0eAjjsoc5VS9HgVLHQ-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Flux Marine</a></b>, which develops electric motors and battery syste= ms for boats, raised a $15 million round from investors including <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FGyd8jn28nyOT-2FraWa= vJ-2Byw-3D-3D6v3g_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932V= uZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl= 7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1h= gZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvetXGzo2ywvHm-2B1o5kXgPKaL2g8uJnGIC78Yzwg-2B= rQwIbon08nHn-2FIuC5wKvmLDJMeqPAOBaCW3qMI0O9cekW-2FNbbSQPrwP5msXDhC5i6GoYkp1= uo7u7PXp1F2tfd160m40MqgkEEhhQO8A26af731SLCxeiNiWTvREibcT2lUNH0eMkWdtXRHjUIj= h7WE3OzwzIMXKEsEnKCOUKNRhnnXdr2cGr8x0osUfBpP5T-2BnQlHaQVHhiBFG9w1ft4fbrGgg-= 3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Collide Capital<= /a>.<br><br> Enterprise resource planning startup <b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FAMjxlLLiaYsxo5OB= nVurkQ-3D-3DT3Ct_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV= f8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932Vu= ZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7= NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hg= ZSVPsEgydE6EraXZ0bKTOVM0n3Z1cOvcH1Er5LwVyNJr06cppW59shzwZZiD611ZjjO8RjpVnl-= 2BESFbw2-2BaKvzNp5ShKFbdFZikELizQoxDPiRSG-2Flry3FJ8flOfzBMVqYZclJQ-2B6nGIdU= LeG-2FQF-2BD-2BtO5P3RA5TRBPKkPG5QgMK5fWvvBy9qjNpLqgP8dXOCyaOWJFrfZTI2jmDfZx= VifVmPYmZfCsSgGoKEr3osL2JWsilar-2BkD-2FTm8RXELznSIbMu7dFb1JM2yAAvbg4pG6Roqx= p93eaw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">CoPlane</= a></b> raised a $14 million seed round led by <a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FB7MOQ0xyfr1HbZSi9b-2BfGQ-3D-3Di_RT_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQB= hxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkh= xfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4= fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE5HDfCspKPj1kk= rwAYPgCClJRu8q3d2yGou07i69pX4mGQlMogBk2TF-2FaF-2FLpviRPdg-2BbLCD3B7EpYP0e7y= cK82sHous6rB9bWEMMUXT4Unx9eUe-2Bah2p6VnoNKjwaLVmx9T8ZHNu88cEpInUBWHm62ieBpX= kj-2ByyRRkpT486DedFWNB025ytHhTyOYOq8rd6Ze1qZ4gcvSVeVygnP988GPRXSM9KdIIEhHLe= EQZG1ApsPlwzjSuuVaoLPycnSLo7G9ANklhMISSuvmshyv4Zc4-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Ribbit</a>.<br><br><b><a href=3D"https:/= /url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6= GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FwptSk7SfiToAfVZYWLJ-2BOA-3D-3D= sY7Y_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHL= boFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3= fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC= 7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE5H= DfCspKPj1kkrwAYPgCClkIDvdVyGr49zNRAZLBdZayX34C-2Fdwe6dRo-2FjkoAH7MBWLxLRXRA= BetEhwJfMEEDL4-2BdzHW9A9D-2FR119bjoA4NJNabP6LhLDFh6NPa31me6qROVND9seJd-2Bgf= M-2B2koOsFYWo-2BxurTAA6S87lWPLXAci5myedagWKaoRWe34l7pivWZBXA-2BZpnqi5x5ierD= 6-2BC6R9uyPvGVfTgXsC9M6IywS4-2FAHVayxZvwYaGKfJZS3X79qHTj2hkaagPdb7M7gXk-3D"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">PowerUp</a></b>, an= Estonian developer of hydrogen-powered electric generators, secured a =E2= =82=AC10 million Series A co-led by <a href=3D"https://url6380.news.pitchbo= ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz= W5r9vkQjo0bTHRw6q3Hjq-2FUW3ECdHfnCkn9RoBMJjGkA-3D-3DToZN_Pr966knuaHmaw6c7pK= 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style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>PE Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FMVVGlYQ-2FOfB3Zw2t= zQzT3w-3D-3DIz75_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV= f8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932Vu= ZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7= NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hg= ZSVPsEgydE5HDfCspKPj1kkrwAYPgCCmx6DDqoE4GKrv-2FTYP3AQGgOr6F8bsOLHmyvsze2por= 5jW0XZAQkHhuQT7yAAdaz8AtG0hcKZ0SnNvrFi-2BGvLENMSrYKWLROFrqxxLq75hZQDk-2F3Lv= 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LIiSDlYFUeDYROg-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">= PSP Investments</a> invested in India-based education services provider <b>= <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXrmCnyHd4DJIAyTzmOO46WQxFg7DemM0XIaf= 78YWDzQA-3D-3DUQ20_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= cVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932= VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHY= l7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1= hgZSVPsEgydE5HDfCspKPj1kkrwAYPgCCn1mJfMEGq21DPfCgDDgWVnCkEhpcuOd-2F027i6L8S= hd2xPuzoxGlNLl4ECd8cCcBJIiw49g1e-2BXLWbuwNad8V3TNT-2BBO1rKRG0pVAS-2BSqSLxz-= 2Fk-2B6hQPxUXaK3pgoSpIQIwT-2FyTCrZG6-2FfIeYsjGtMBFDzVhNGAXRybebNemlcn7UY7SZ= sq80SGh4ppeL9c4X92paBfzzzxAvaYAbC5-2BrYZW-2BKqfFclbBpzlL-2BT0OnyX5myIdYO9fo= D8vxasu09yE8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lig= hthouse Learning Group</a></b>.<br><br><a href=3D"https://url6380.news.pitc= hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw= ouzXrmCnyHd4DJIAyTzmOO46WvKmc2XHmK34m8-2BQF7-2B4rnQ-3D-3D5JE9_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2Bv= wVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4= eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9= D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE5HDfCspKPj1kkrwAYPgC= ClS8bHeL98iK8SodnlisIauH1KkQHmsxWVYnxBmN0jtdpBu5XRidWB07Ner9nSDRgnJEpF4O3hP= YbCO6WOMR2oYztkDw6saCQOxZ5ztxNOUnVfX-2FsbkrvM7rNyuNZ-2FO93ugRjjNFv2v-2BePHx= Zqe724zShxR-2BmYZX4yZXc67QfneFCJVfk0V-2BcFGPc48A87a00Ct3RwbuERAKYvATsiRQpKA= L5cyYTgAsuqfakPT1iKXu8UlWaWLxIO10K0i0IP8eK0-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">Courizon Partners</a> acquired <b><a href=3D"ht= tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS= WIrf6GFa-2BaqM7ONnvsnswouzXrmCnyHd4DJIAyTzmOO46WIyBmat1ryDGMYznFA1wDNQ-3D-3= DR7YK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRH= LboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY= 3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWV= C7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE5= HDfCspKPj1kkrwAYPgCCksE15LOLk-2B4IhP8pyrADeAyLKGzbDjlHRE0dmie5QL-2FQqtnFBd-= 2BuURoP0FLstjS0n-2BedA31eEYYC0oOgaKzYtIlQGBN9y4ifqZrwGmBmLxVuzM5naWV7csHXDV= -2Fgo-2BasfP6LU1ptzrir4G81isgpvXplJAfmjUWpnw3iktaxROgWnH5L1tfXr-2FB7bI9aLpT= hDdTCRp-2FtzTsTkDhbqI0YFqpogUdD9Re9aNcGaHcE-2Bg8Dxbt6HHdOk9X-2B8nN26AqOE-3D= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">Air Burners</a></b= >, a Florida-based manufacturer of incinerators.<br><br><a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzXrmCnyHd4DJIAyTzmOO46WhhRrMHCOAytLRB79hnFCTw-3D-3DTfBW_= Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwm= x2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6X= K7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tz= yLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE5HDfCsp= KPj1kkrwAYPgCCmpRJUCqnl-2Fr0Q-2FunDm8sZ4zC9ys2h1X8nY9DuysnvtGATZ5zrAgOaZ-2F= jzpW-2Ftn5rlIsXFoxEKZPPpbgYITJPAXnB-2BT-2BXOMzGfezAKFWbrQugQkVYKuwr2FSSA2gB= iwVFhA2hT3RU7zvqjBkE3Ci6v10rk9A-2BS5pOiM-2FZg7WFEddlzLcWIOgYr8tyejQgbaJFaux= sEd9q8UM8QY63-2BXrLKIHcAE78dG5WShDkxtrCPyLZVtewfBmMA1XB4C1JhKPXw-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">EMK Capital</a> purchased= Italian IT firm <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXrmCnyHd4DJIAyTz= mOO46WcemYm-2FL-2FwrAGTtqhpUlKVw-3D-3DPYtn_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRj= aYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAi= wq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov= -2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWRQVp6DwrYVzmbZ2DFbivD2-2F2HlJtWUbS= a59rg3BX5hqqJN-2BuapbqZn3z671JOwcBdFUQnHm6oJhF4f6u3BOpIAC1muarZDCzbIZOGbata= kX9UFg2mRl-2Fa7ABmobxUES-2FlTD9BwVd0NuHZLayTkZ0YwFWzj-2BtUOWNY0SrBefffI5uWv= Gz1-2Bmn3cOy-2FoDVIzOz0nqqjoaYGmtfdpFl9nViuCjWZPMdyXGswg26Y21BdO-2BbrlkVmkT= -2B45NU1nv4y7lgA69p9Hd6StThhLD0I-3D" style=3D"color: #1D5080;" test=3D"" un= iversal=3D"true">Project Informatica</a></b> from <a href=3D"https://url638= 0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzXrmCnyHd4DJIAyTzmOO46WOZdt2zWdinnnFY7p33AjLA-3D-3D-YHA_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQB= hxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkh= xfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4= fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWRQVp6Dwr= YVzmbZ2DFDa7DICGoLogvDhv0wOOYrEKh89SoMgIPPWl7ksu-2BH30zTQsCszTL0EhWQuZewdju= -2FU6IBR6WK9d0CqoP3WNTxQQInJZx59QldtVsfqG4lLKK5VUTnRmAgjEh4w6sPLTmAUulxmr7H= fh6-2FGi0GNppq7imVH2Ynqt45PXLlfY2MtmINlUNKhxSlho0PzaCxJgw6jRvIvArNopSgsZSlx= uhtOqR2FXQfOJSsjQR9FqvVCUIWb3gQC93jVVPJ9iFxc7g-3D" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">HIG Capital</a>.<br><br><a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzXrmCnyHd4DJIAyTzmOO46Wjyp-2FsoZTotOUUpH4jhNQkg-3D-3D78jr= _Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFw= mx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6= XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3t= zyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWR= QVp6DwrYVzmbZ2DG4svECsgRb37j4KbEQipAWa8-2FBI4S-2FpD9MslLvorJ6jFWoC4pgB7yzIZ= HJwRnbKIC4uPTLYA8C4-2BwjkOdFQxFNYxivXT5mrkA04OIYTuMBlxusjYPJiuUO4sjsxfPATAu= 1TS0WC1azUi-2FDIIRVMtc4vJEAdzhG4gJxas-2B0QxZHycksuugIgmwOjMcq8smJAPwImpvX1I= Gfo61b-2Fsc0fag4RkB7UybFBTXRUgnp7QdGvIb-2BPIyiwTZlUZpk7Fi-2BBWM-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Bridgepoint Group</a> acq= uired a majority stake in <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXrmCnyH= d4DJIAyTzmOO46WYeY7hlRcGEvN3eNuurMf8w-3D-3Du5q4_Pr966knuaHmaw6c7pKvB-2BCEiD= nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFM= EFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-= 2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX= 4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWRQVp6DwrYVzmbZ2DFCEdRaNXJKqO8= 3riQzdLfh7OkYZFL3ILrWqzCePhBvXSt8R8EiUq4Qe-2By-2Byqxpt4o1E0ngu5EsYZg-2B5Ymx= NZl2SV15NGvJa4Kp67thAtCl9cVFYVxtADomQrTrMnMf5PwCZfYYVDeeluDzcsWon2IJJXHsnWu= 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fsnBXAeDUJEc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">AXA= IM Alts</a> bought a 40% stake in <b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzXrmCnyHd4DJIAyTzmOO46Wxxu8WELhbvBXesgjAg5f4w-3D-3Dflv2_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF= -2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyf= MX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1WTS9D4Dmf= eEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE8dGBWRQVp6DwrYVzmbZ2DEqGC= cMMw6YzCRk2TTkOQT4OgUiezMLbzCtL0hjMCLsTJkB3siRUV-2B9Zf0dd-2Fir4QXuGQZwUrN5C= Sw-2FR026Wsr37pmKOf757P4BJQiF-2B8wAB63puk5KaJ4YLTcHYTXWJCTB3-2BRmLblztMU6p-= 2BQziFpIH6SmZ2FyJG7sOtZMkNKRD-2B7NM3OpgD3n1iqRQsRCq4h-2BXrTPTtLtNpJYPmYECdG= P588PwPHo8NMj3cfcsvXyVSZmTYGuR-2BqgNzY4fYVTo1Q-3D" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">FiberPass</a></b>, a Spanish wholesale fiber= optic broadband services provider.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW5r9vkQjo0bTHRw6q3Hjq-2FMVVGlYQ-2FOfB3Zw2t= 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tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">Citi Ventures</a>-bac= ked digital real estate platform developer <b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzVMugGqyD1YPTSXPhvr9ZlE5GCeEXpgRftRApFOtc2jig-3D-3DbLwM_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRHLboFwmx2nYQBhxY-= 2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY3fwV6XK7uMkhxfk-= 2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4fo1W= TS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE0FD4BR2VIzdQJL436= qA5Frq6MM5pQ2utfu-2BQfdC3oZdBmgxskYRqIzZolV5euzttP-2FudjVKectjLH1CVA-2B80hi= N0dGRVY1Guoe2o-2Bb4sJwQgp1YB4kHGxHa36frYDg-2FnYiyrOhYr74R3AV2tbPldXh-2B5pyC= -2FB-2FYva1BGbbjECuBvdmEsHFnZjFiubFirtLRADOvUQqRQQyMxBgJB6jj60DMm7ZElR6lLAW= 5bIKavo11tTudJ-2FyxIwkSZ-2FHJ-2F7YvGpqo2lPaV2O6YtB0J3dRe54-3D" style=3D"col= or: #1D5080;" test=3D"" universal=3D"true">Prevu</a></b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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-2BaqM7ONnvsnswouzVMugGqyD1YPTSXPhvr9ZlEFgNeKYKUIAgWuj3g6= F5k9w-3D-3DOljv_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRHLboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZ= NQIQPG30PY3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7N= LzczeDgbWVC7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZ= SVPsEgydE0FD4BR2VIzdQJL436qA5Fqn0GS3aOYPwocPj-2BhqPZvnisWoGW0cloK1ammwbikCI= OQssnlzkeUQkdfCUpfhlTx-2FE-2FUEC558q4v3bm7GP2Shd2JzWftbYP-2F1FiiqAoaPKDQeYl= ib7l-2FGqyYfbHfxM22fgaxijwcG3qlSUdUgiyZHcnRI3qAKYjbNCzxoUfuXpKj6JTVmJwIkvEZ= MBoLeBpbFykhxEi444Ij9wWgWmjtXT3mlIzSfAzPFFAUJX7GXNG-2Bh04ZU10zegJ-2Bc0DppxZ= 0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Federated Herm= es</a></b> secured $320 million in the first round of fundraising for its s= ixth PE co-investment vehicle.<br><br><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzVMugGqyD1YPTSXPhvr9ZlENAOTSyNLy2LqjUFR8PRcXQ-3D-3DgckI_Pr966knuaHmaw6c7pK= 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fk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWVC7D3tzyLIZp4f= o1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE-2Bx2xifY-2Fh6= hnynulO2NDfciHv55hQjEQ81QI0b5yR1uJdG0oGIqBFr0l-2Beg8ZJgJE14uJ0aP7RVcLD4AGqy= O8q7nRtFPqoUbc5zs8wxWEVkWklgWI1GvHguHc52RsGDIJsMBXxnV5Mz-2FvDpFA1ukvIWvb4LJ= e0if2grSb5ygnpHqQsDaNrUhVjBbESRxd4fPseIiV-2BYGgurWnL-2F10ajG-2FkgY27FJi7A3t= xy2RoH27xU9ux9ZEqvnE1NmyJxGDFKAV0Ock4eW4t6JUGICQKJPTs-3D" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true">ElevenLabs</a> investor <a href=3D"ht= tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS= WIrf6GFa-2BaqM7ONnvsnswouzVMugGqyD1YPTSXPhvr9ZlEo8P2Z6tOfFzkScPvLi4dXg-3D-3= DTAjb_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRH= LboFwmx2nYQBhxY-2BvwVWVF-2FSaxKFMEFPRjaYiR-2BT0GCQ2dpX3PQlh932VuZNQIQPG30PY= 3fwV6XK7uMkhxfk-2F4eVbyfMX9jc9iX-2FsAiwq4NF8otJRNDZkhKO6idqEHYl7NLzczeDgbWV= C7D3tzyLIZp4fo1WTS9D4DmfeEAQUX0dX4yCov-2Fe1DLG19qLxzlBsIOn0Ma1hgZSVPsEgydE-= 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black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Chart of the Day</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" 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