Vincent Harrison

🚀 Spotlight on Venture Capital: Q3 2024 Update Houlihan Capital’s latest Q3 2024 Venture Capital Update is here! This report offers a deep dive into the latest trends and data shaping the VC landscape. 📈 Highlights include: ✅ Key industry performance metrics ✅ Sector-specific investment trends ✅ Shifts in funding strategies ✅ Insights on the evolving startup ecosystem Stay ahead of the curve with actionable insights from our expert analysis. 👉 Read the full report here: https://lnkd.in/g9dyaDfT #HoulihanCapital #VentureCapital #VC #IndustryReports #FreeVCIndustryReport #VCMarketUpdate #VCInsights #Valuation #ValuationProvider #VCValuationProvder #IndpendentValuation #FundValuation

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In the season finale of Brex's Controllers Classified podcast, BCV partner Sarah Hinkfuss spoke with Erik Zhou to discuss the VC investment landscape and how BCV approaches due diligence for growth-stage companies. For founders, there are three things that are important to share with investors: 1. Your unit economics, or how you think about your business drivers. It’s by far the most important thing today and those inputs (e.g. customer cohort data, gross margin, sales and marketing costs) give you a complete picture of the business. 2. Your business model, or how you think about your future. It doesn’t have to be a huge, complicated spreadsheet. Rather, it’s an important instrument to show people how you think about the business. What is your view of the future and what do you believe are the most important drivers of the business? 3. Your memo, or your narrative. A popular format today is to tell your story in a memo, not a deck, and it’s great because the writing process forces more complete thoughts to give investors a full view of your business and vision.

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The private equity (PE) middle market is showing signs of recovery, with dealmaking rebounding faster than the broader PE industry. Improved lending conditions and competition among lenders have boosted activity, with larger PE funds, like KKR and Thoma Bravo, seeking middle-market opportunities due to limited large-cap deals. In the first half of 2024, PE firms closed 1,699 middle-market buyouts, an 11.5% increase from last year, and total deal value is projected to reach $345 billion, potentially marking one of the segment's best years. Despite challenges in exits and fundraising, the positive dealmaking momentum signals a strong recovery ahead, especially with anticipated interest rate cuts expected to support future growth.

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Ackman aims to create ‘modern-day Berkshire Hathaway’ with Howard Hughes deal: Investor has big ambitions for Texas-based property holding company #hedgefund #portfoliomanagement #capital

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For CIOs investing in private funds, what NAV estimation approach performs the best? In case you missed the presentation from Aili Chen, CFA at our recent Alts Conference, you can read the full report from PGIM Institutional Advisory & Solutions here: #privateassets #privateequity #realestate #alternativeinvestments

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The Florida Funders investment strategy is always informed by what’s happening in the market, using data like each quarterly recap from PitchBook to respond to changing conditions with agility. Here's Saxon Baum's review of 2024 Q1, with insights into the current state of the VC market, a shift toward profitability, early-stage investment and IPO trends, and Miami's role as a leading city in the venture scene. https://hubs.la/Q02vGtCx0

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Now available - StepStone Private Venture and Growth Fund (SPRING) quarterly fund commentary! Since inception, SPRING has generated an annualized net return of 25.96% and reached $1.0B in AUM.* The fund is focused on strategic portfolio construction, leveraging an open architecture approach and capitalizing on pricing dynamics. Learn more about SPRING's strategy and recent investments in the Q3 2024 Fund Commentary. https://bit.ly/3WTvonm *Inception date was Nov 1, 2022. AUM as of Sep 30, 2024. Past performance is no guarantee of future results. The Fund should be considered a speculative investment that entails substantial risks, including complete loss. The Shares are illiquid and appropriate only as a long-term investment.

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⏳ Just one day to go! Join us tomorrow for our webinar: "Key Valuation Themes You Can’t Ignore before 2025." 🗓️ Date: September 17th 🔗 Register now: https://lnkd.in/d6_3xC86 Learn from James Wolfe (MD at Financa), Paul Resch (Valutico CEO), and Greg Brown (Valutico VP of Europe) about essential valuation themes, case studies, and tech insights. Don't miss out – secure your spot today! #ValuationWebinar #FinanceMastery #Valutico

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Get ready for a deep dive into Baron Capital's investment approach at #BaronConference24! Co-CIOs Cliff Greenberg and Andrew Peck will join Director of Research Amy Chasen along with other Baron Capital portfolio managers for an exclusive look at where Baron Capital is finding the best growth opportunities. View full agenda: https://lnkd.in/ePEa3Mh9 Investors should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund and can be obtained from the Fund's distributor, Baron Capital, Inc., by calling 1-800-99-BARON or visiting BaronCapitalGroup.com. Please read them carefully before investing. Risk: All investments are subject to risk and may lose value. BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).

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Digital commercial real estate financing platform Duckfund for Real Estate Investors  has secured a $100 million revolving credit facility from Clear Haven Capital Management, LLC to expand its platform offering loans to sponsors in need of short-term capital. The credit line marks the first for New York-based Duckfund, which was launched in 2022 by private investors and founded by its CEO, Anna Kogan (pictured). Read more: https://lnkd.in/eeAwmwcS

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💡 What Makes a Strong Deal in the GroundUp Fund? At GroundUp Fund, we specialize in helping investors fund land deals while delivering exceptional returns for our partners. Here’s what sets our deals apart: 📍 Sample Deals in Our Current Pipeline: Location: Three off-market properties in the NC/SC region Purchase Price: ~$50K each Estimated Sale Price: $100K each Expected Time on Market: ~60 days Every deal in our portfolio is thoroughly vetted by our investment team to ensure solid margins and minimized risk. Opportunities like these empower our investors to achieve strong returns while participating in efficient, creative land transactions. If you’re interested in exploring unique real estate opportunities or have questions about how we operate, let’s connect! #RealEstateInvesting #GroundUpFund #LandInvesting #PassiveIncome

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In the multi-asset context, a skilled analyst will find more than just a surface-level insight from valuation signals... Here's how to use valuation signals to get ahead, detect risks, and optimize portfolio allocations through the cycle: https://lnkd.in/gpwJxZMV

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Alacrity Solutions has begun restructuring discussions with lenders as it faces liquidity challenges and customer churn according to 9fin sources. The company, backed by heavyweights like Blue Owl Capital and KKR, is working with advisors to navigate its $1.6bn debt load. 💰 Catch all the details on who’s involved and what’s at stake. Read now 👉 https://hubs.li/Q02WMVb30 #privatecredit #distresseddebt #debtcapitalmarkets

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🎯 Recent Buyouts Insider data reveals that most LPs remain outside their target PE allocations. According to the analysis, roughly 50% of all institutional investors active in the North American PE market are overallocated, 33% are underallocated, and only 16% are within .5% of their target. Market conditions over the past few years are largely to blame. In 2022 and 2023, the denominator effect left many LPs overallocated to PE. Today, a stalled exit market is keeping private equity NAVs steady and limiting distributions, making it harder for allocators to re-up their commitment schedules. Delayed exits also hinder the ability to manage underperforming or outperforming portfolios that can push allocations above or below target levels. LPs are tapping various tools to navigate distorted portfolios, including turning to the secondaries market, gaining more control of cash deployment via co-investments, and adjusting allocation targets. However, revising private equity allocations is far from straightforward, as even small adjustments involve substantial changes in commitment pacing. For example, StepStone Group reports that a 1% overallocation can require cuts to planned commitment scheduling by 10-12% annually for five years or more. To manage shifting targets, many LPs are turning to technology to establish commitment schedules and understand cash flow and NAV trajectories. 🔗 Learn more about how allocators can leverage technology to navigate forecasting challenges at the link in the comments. 

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Roon, a TMV Fund II portfolio company which is a NYC-based company providing an access to a guide for health, raised $15M in Series A funding! The company intends to use the funds to expand the platform to cover hundreds of conditions, including critical areas like women’s health, cancer, neurology, metabolic health, and pediatrics. The round was led by FirstMark and Forerunner, with participation from early investors like Sequoia Capital and our good friends at TMV !!

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Private equity firms Brookfield Asset Management and Sequoia Heritage-backed Pinegrove Capital Partners, agreed to acquire SVB Capital, a venture capital firm, from SVB, a financial services group. Financial terms were not disclosed. "Over the last quarter-century, our firm has thrived on the deep trust we've cultivated with the most sought-after general partnerships in venture capital. In addition, we have consistently aligned our interests with those of our limited partners. Those foundational principles will guide us into the future. Leveraging SVB Capital's extensive history and track record, our partnership with Pinegrove will expand our multi-strategy platform to directly meet the unique needs of the venture capital and limited partner communities," Aaron Gershenberg, SVB Capital Founding Partner. SVB Capital is led by Aaron Gershenberg. Sequoia Heritage is led by Keith Johnson, CFA, Kevin Kelly and Connie Wu. Pinegrove Capital Partners (led by Brian Laibow and Gaurav Mathur) is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Neil Goldman, Kenneth Schneider and Andrew Parlen) and FGS Global. SVB (led by Bill Keeling) is advised by Alvarez & Marsal, Centerview Partners, Sullivan & Cromwell LLP (led by Jared Fishman) and Joele Frank (led by Michael Freitag). #MergersAcquisitionsDivestitures #PrivateEquity #FinancialServices

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New research shows beneficial impacts of SFR ownership by large providers Recent research published by New York University PhD candidate, Joshua Coven, shows large providers of single-family rental homes (referred to in the paper as “institutional investors”) play an important role in expanding access to quality, affordably-priced housing in neighborhoods where it is needed most. Specifically, Coven’s paper, “The Impact of Institutional Investors on Homeownership and Neighborhood Access,” makes the following key points:   “…institutional investors increase the quantity of rentals and lower rents on net because their ability to operate large portfolios at scale outweighs the incentive to use market power to decrease the rental supply.”   “… renters from regions with lower median incomes, worse school test scores, and lower historic economic mobility move into institutional investor rentals. Together the results suggest that institutional investors lowered rents for renters and increased their neighborhood options, caused capital gains for incumbent homeowners...”   “Policies seeking to ban institutional investors or cap annual rent increases would increase rents by reducing the rental supply—the opposite of their intended effect on the rental market.” #NRHC #SFR #BTR #Housing  

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