This week in Venture Wrap...
Let's start the wrap!
1. By "goodbye," we mean private equity funds are taking out public software companies left and right this year. Over $65B in acquisitions, more than double that of 2021. Such activity may speak to the gigantic rerating of the sector in the public market. In the private market, investors are shying away from software and are perhaps finding new love in Cleantech.
2. Blackrock's Larry Fink sees capital going into decarbonization...
3. ...which is why his firm has partnered with Temasek to launch a new late-stage VC/early-growth PE firm called Decarbonization Partners, raising $1 billion for its first fund.
4. Blackrock and Temasek are just some of the funds with a recent move into decarbonization. Lightrock announced a new $824 million climate fund just last month.
5. These actions are backed by data, "record amounts of capital are flowing into energy transition in North America," according to S&P Global.
6. One caveat here, though, is that 2022 also marks the highest level of US VC activity in Nuclear Technology ever. Much shifting narratives following geopolitical developments in Europe and the repercussions of that. Investors are opening up to the use of nuclear as an alternative to carbon going forward.
7. Blackstone's troubled real estate fund is creating concerns in the private equity funds space...
7. E-Sports not safe from funding dry-up across tech as VC and sponsorships dwindle.
8. Great listen as Bloomberg's Odd Lots Co-Hosts ask an industry veteran what it's like to go through a VC winter.
Have a great weekend, and see you next week!