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margin-bottom: 0 } #custom-code p, #custom-code ul,#custom-code ol { font-size: 16px !important; line-height: 25px !important } .sub-heading-defi { text-align: center; color: #002d9c; font-size: 18px !important; font-weight: 700 !important } .sub-heading-defi2 { text-align: center; font-size: 18px; margin-top: 0; margin-bottom: 35px; font-weight: 700 !important } .icon-box-defi { flex-direction: column } .icon-box-defi img { margin-bottom: 25px } .icon-box-defi-content { border-left: 0; padding-left: 0 } .h5-defi { font-size: 18px } .h6-heading { font-size: 16px } .cards-defi>div { width: 100% !important } .cards-defi p { font-weight: 700; text-align: center } .content-defi { color: #000; font-size: 16px; line-height: 25px } .cards-defi p, .cards-defi span { color: #000; font-size: 16px; line-height: 25px; margin-top: 20px } } @media (min-width:1800px) { img.image-blog { padding: 0 100px !important } img.image-blog2 { padding: 0 210px !important; margin-top: -150px !important } } @media (max-width:1000px) { .w100-section { width: 100% !important } .pl-00 { padding-left: 0 !important } .d-flex { display: flex !important; flex-direction: column !important } .mt-30 { margin-top: 30px !important } .mw-100 { max-width: 100% !important } .nav-sections { width: 100% } .content-defi { padding: 20px 0 !important } .nav-sections img { width: 23% } div#custom-code { padding: 10px 20px !important } .mx-200 { max-width: 200px !important;width:auto !important;height:77px !important } .pd-10 { padding: 10px !important } .ml-0 { margin-left: 0 !important } } .gt-cta, .gt-cta-2 { background: #002d98; padding: 10px 40px; border-radius: 10px; color: #fff; font-size: 20px } .rm { margin-left: 30px; color: #fff; text-decoration: none; background: #019bcc; padding: 9px 25px; border-radius: 25px; margin-top: 20px; display: inline-block; box-sizing: 1px; box-shadow: 2px 3px 0 rgb(0 0 0 / 16%) !important } </style> <div class="content-defi">Scroll down to catch up on the latest happenings and developments taking place in the private markets landscape!</div> <br> <br> <div style="margin-bottom:20px" class="nav-sections"> <a href="#pm"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e22af0ca29dd3d1b115a78_Asset%2029%406x.png"> </a> <a href="#du"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e22af0e877052135822c85_Asset%2030%406x.png"> </a> <a href="#wn"> <img src="https://drive.google.com/uc?export=view&id=1KbruEXQTZ6jZkpYlDjLgHkufcYh3IxWq"> </a> <a href="#id"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e8e5b4ae456041fb362ab1_Asset%2083%406x.png"> </a> </div> <div class="content-defi" style="margin-right:0!important;padding:20px 30px;background:#f2efea"> <div id="pm" class="content-defi" style="margin-right:0!important;padding:20px 0 0"> <div></div> </div> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;border-radius:15px" width="100%"> <tr> <td> <div style="font-family:sans-serif"> <div class="txtTinyMce-wrapper" style="font-size:12px;mso-line-height-alt:18px;color:#1d1d1b;line-height:1.5"> <img src="https://global-uploads.webflow.com/614a9edd8139f5def3897a73/62de8be33b2f2c3a5f285aec_Asset%203%406x.png" style="display:block;height:auto;border:0;padding-top:10px;width:370px;max-width:100%" title="Banner" width="370"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:20px;color:#002d9c;text-align:left;font-weight:300;text-decoration:underline"> <b>Private Equity and Venture Capital Funding Updates</b> </p> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300"> <b>GLOBAL - April 2023</b> </p> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>1. Monthly PE/VC Funding Updates: Private Equity (PE) and Venture Capital (VC) Investments</b> </p> <img class="pd-10" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648769e5711d466374a41778_Private%20Equity%20(PE)%20and%20Venture%20Capital%20(VC)%20Investments%20%20.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;padding:30px 30px;width:300px" title="Banner"> <table style="width:100%"> <tr style="vertical-align:middle" class="d-flex"> <td style="width:100%" class="w100-section"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:center;font-weight:300">Compared to April 2022, total PE and VC investments dropped by 66.8% year-over-year (Y-o-Y) to US $27.05 billion, from US $81.57 billion.</p> </td> </tr> </table> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e23edd1272dc38c012bc00_Asset%206%406x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;padding:30px 0" title="seperator"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#1d1d1b;text-align:left;font-weight:300"> <b>2. Monthly PE/VC Funding Updates: The Number of Deals Recorded</b> </p> <br> <table style="width:100%"> <tr class="d-flex" style="vertical-align:middle"> <td style="width:30%" class="w100-section"> <img class="image-blog pd-10" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/64876a3dde75e4a87d2884e6_The%20Number%20of%20Deals%20Recorded%20%20.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;padding:0 60px" title="Banner"> </td> <td style="width:70%" class="w100-section"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <br>The month of April 2023 recorded 843 deals when compared to 1,416 deals in April 2022, a 40.5% decline from a year ago. </p> </td> </tr> </table> <br> </p> </div> </div> </td> </tr> </table> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e23edd1272dc38c012bc00_Asset%206%406x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;padding:40px 0 50px" title="seperator"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>3. Private Equity & Venture Capital - Sector Composition</b> <br> <br>SPOT Sector - <b>TMT (Technology, Media and Telecommunications)</b> <div class="w100-section" style="width:70%;margin:auto"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/6487687ac141ac03b071ce1e_Private%20Equity%20%26%20Venture%20Capital%20-%20Sector%20Composition%20%20.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;width:100%;margin-top:10px;border-radius:14px" title="Banner"> <br> <br> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">The Technology, Media, and Telecommunications (TMT) segment attracted the most PE/VC funding during the month, raising US $10.90 billion in total transaction value, comprising 26.5% of total investments made, followed by the healthcare sector, with a total of US $4.12 billion, and the financials sector pulling in US $3.81 billion, accounting for 15.2% and 14.1% of investments made in April 2023 respectively. </p> </div> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e23edd1272dc38c012bc00_Asset%206%406x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;padding:55px 0 30px" title="seperator"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>4. Largest Funding Deal</b> </p> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>CVC Capital Partners Ltd. and Francisco Partners Management LP's proposal to acquire Network International Holdings PLC</b> <br> <br>CVC Capital Partners Ltd. and Francisco Partners Management LP have extended a ‘preliminary and conditional’ proposal to acquire Network International Holdings PLC, a digital commerce enabler in the Middle East and Africa, for £2.1 billion (US $ 2.56 billion). </p> <table style="width:100%"> <tr class="d-flex"> <td style="width:70%" class="w100-section"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Compared to Network's last closing price, the proposed price was at a premium of nearly 28%.<br> <br> In April 2019, Network International, one of the largest payment processors in the Middle East and Africa, went public in London at 435 pence per share. </p> </td> <td style="width:30%" class="w100-section"> <img class="image-blog mt-30" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/64876a806c842339fb22aa0b_Largest%20Funding%20Deal%20%20.png" style="display:block;height:auto;border:0;padding-top:10px;margin-top:-10px;max-width:100%" title="Banner"> </td> </tr> </table> <table style="width:100%"> <td style="width:100%"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e23edd1272dc38c012bc00_Asset%206%406x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;padding:30px 0" title="seperator"> </div> <div class="w100-section" style="width:70%;margin:auto"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300;text-align:center"> <b>Private Markets in Q1'23: Key Takeaways</b> </p> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/64876c1496d315174b3a2a9c_%20Private%20Markets%20in%20Q1%2723%3A%20Key%20Takeaways%20.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin:auto;width:100%;margin-top:10px;border-radius:14px" title="Banner"> </div> <br> </p> <tr> <td style="width:100%"></td> </tr> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;background:#fff" width="100%"> <tr> <td style="padding:20px 0 0!important"> <div style="font-family:sans-serif"> <div class="txtTinyMce-wrapper" style="font-size:12px;font-family:Poppins,Arial,Helvetica,sans-serif;mso-line-height-alt:18px;color:#1d1d1b;line-height:1.5"> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;background:#fff" width="100%"> <tr> <td style="padding:20px 0!important"> <div style="font-family:sans-serif"> <div class="txtTinyMce-wrapper" style="font-size:12px;font-family:Poppins,Arial,Helvetica,sans-serif;mso-line-height-alt:18px;color:#1d1d1b;line-height:1.5"> <img id="du" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e04e7cbb21833229d6_Asset%2056%404x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%" title="Banner"> <p style="margin-top:6px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Here's a quick glance at the latest deal-related news in the market.</p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e10d200a7da1e14f9b_Asset%2057%404x.png" style="display:block;height:auto;border:0;padding-top:40px;max-width:100%;margin-left:30px;width:290px" title="heading"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://techcrunch.com/2023/05/12/indian-edtech-giant-byjus-raises-250-million-on-track-to-close-another-700-million/" target="_blank"> <b>Byju's raises US $250 million from Davidson Kempner</b> </a> <br> <i style="color:#171723;font-size:14px">May 12th, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Byju’s has raised US $250 million in fresh funding from Davidson Kempner, a New York-headquartered investment firm, and is close to securing additional funding of US $700 million. <br><br>While numerous high-profile startups have experienced severe corrections in their valuations over the past year, Byju's has maintained its $22 billion valuation. <a href="https://techcrunch.com/2023/05/12/indian-edtech-giant-byjus-raises-250-million-on-track-to-close-another-700-million/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>It is important to note that the money raised in this round was raised via convertible instruments, which in turn caps Byju's valuation at $22 billion. </p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f7c98c1c3a422612895f_Asset%2059%404x.png" style="width:280px;display:block;height:auto;border:0;padding-top:40px;max-width:100%;margin-left:30px" title="heading"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://www.financialexpress.com/industry/meesho-cuts-cash-burn-by-90/3099176/" target="_blank"> <b>Meesho reduces cash burn by 90%</b> </a> <br> <i style="color:#171723;font-size:14px">May 24th, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Meesho has reduced its cash burn by 90% in the last one year. The move is in line with the company’s aim to become earnings before interest, taxes, depreciation, and amortization (Ebitda) positive by the end of this year. <br><br> In addition, the company also reduced its server cost per order by 50% over the last one year. <a href="https://www.financialexpress.com/industry/meesho-cuts-cash-burn-by-90/3099176/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>In light of this recent development, it is observed that the cost reduction has been led by various decisions adopted by Meesho including lowering costs such as advertising spends, servers costs, and fixed costs. </p> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://ibsintelligence.com/ibsi-news/klarna-and-airbnb-partner-to-provide-flexible-payments-for-guests/" target="_blank"> <b>Klarna and Airbnb partner to provide flexible payments for guests</b> </a> <br> <i style="color:#171723;font-size:14px">May 22nd, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">In partnership with Airbnb, Klarna, an AI-powered payments network, and shopping destination, will offer flexible payment options to guests in the US and Canada. </p> <a href="https://ibsintelligence.com/ibsi-news/klarna-and-airbnb-partner-to-provide-flexible-payments-for-guests/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>Airbnb is the latest partner to join Klarna's network of 500,000 merchants who offer their customers flexible payment options. It is a viable decision made by Klarna to take this step, given that economies are reopening fully for the first time after COVID, resulting in an increase in the overall travel demand. </p> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://entrackr.com/2023/05/thrasio-signals-retreat-from-india-sells-stake-in-lifelong/" target="_blank"> <b>Amazon aggregator Thrasio divests stake in its first-ever India bet</b> </a> <br> <i style="color:#171723;font-size:14px">May 18th, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">With the divestment of its stake in LifeLong, Thrasio signals a retreat from India. The US-based marketplace roll-up entered the country in January 2022 with the acquisition of the Gurugram-headquartered company. </p> <a href="https://entrackr.com/2023/05/thrasio-signals-retreat-from-india-sells-stake-in-lifelong/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>As per the latest news reports, Thrasio divested its stake in Lifelong owing to its failure to make certain payments to Lifelong and its investors as part of the agreed terms. This is a likely result of Thrasio's cost-cutting measures which included laying off 20% of its workforce previously. Subsequently, the company seems to have changed its strategy, shifting its focus away from India. </p> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://www.prnewswire.com/news-releases/clo-virtual-fashion-and-epic-games-together-invest-in-the-future-of-digital-fashion-301822013.html" target="_blank"> <b>Epic Games invests in digital skins SaaS platform CLO Virtual Fashion</b> </a> <br> <i style="color:#171723;font-size:14px">May 11th, 2023 </i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">CLO Virtual Fashion, a global leader in digital garment solutions, and Epic Games, the developer of Unreal Engine, have announced that the companies have purchased shares in each other. <br><br>CLO Virtual Fashion believes that these investments will unleash the fullest value of each and every digital garment and creator around the world, and are excited to share this goal with Epic Games. </p> <a href="https://www.prnewswire.com/news-releases/clo-virtual-fashion-and-epic-games-together-invest-in-the-future-of-digital-fashion-301822013.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>CLO Virtual Fashion allows 3D designers to leverage its platform to create true-to-life clothing which can be featured and sold in-game. Given that Epic Games derives a significant portion of its revenue from in-app purchases of skins, the investment in CLO Virtual Fashion will upgrade that offering and help increase market share in the US $40 billion skins market. </p> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://techcrunch.com/2023/05/04/india-meesho-cuts-251-jobs/" target="_blank"> <b>Meesho cuts 251 jobs to ‘accelerate the timeline to profitability’</b> </a> <br> <i style="color:#171723;font-size:14px">May 5th, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Meesho cuts 15% of its workforce, or 251 roles, as the Indian social commerce startup pares its expenses to improve its financial health and confront the “economic reality.”<br><br>This is the second round of job cuts at Meesho, which eliminated about 150 roles a year ago. </p> <a href="https://techcrunch.com/2023/05/04/india-meesho-cuts-251-jobs/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>This could be viewed as a step taken to reduce cash burn and move towards EBITDA profitability in 2023. Like most other businesses, Meesho has shifted its focus from ‘growth to profitability’ in the tough macroeconomic environment, marked by high inflation and a recessionary outlook. </p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f7cab4bd5e4cc19b0624_Asset%2060%404x.png" style="display:block;height:auto;border:0;padding-top:40px;width:175px;margin-left:30px" title="heading"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://www.reuters.com/technology/grab-beats-quarterly-revenue-estimates-2023-05-18/"> <b>Grab releases 2023Q1 earnings; beats estimates </b> </a> <br> <i style="color:#171723;font-size:14px">May 18th, 2023 </i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Total revenue more than doubled to US $525 million, also above expectations of US $504.3 million. <br><br>The super-app operator has in a few months embarked on a cost-cutting drive, with measures including a slashing of its cloud bill and a hiring freeze for some roles. The lower incentives helped the delivery business triple its revenue to US $275 million, which beat Visible Alpha consensus estimates. </p> <a href="https://www.reuters.com/technology/grab-beats-quarterly-revenue-estimates-2023-05-18/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>The earnings improvement is driven by the delivery business turning adjusted EBITDA profitable in FY23. This has been driven by lower incentives to partners and discounts to customers. An increase in MTU to ~33M has also aided in this revenue and EBITDA expansion <br><br>Grab has claimed adjusted EBITDA break-even by Q4 2023. However, there are certain risks to profitability this year, as highlighted by JPM: <ol style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:70px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:20px;text-align:left;font-weight:300"> <li style="margin-bottom:15px">Churn in part-time (read high-margin) drivers to competing zero-commission platforms may result in margin compression. </li> <li style="margin-bottom:15px">Slower-than-expected growth in delivery GMV due to the impact of reopening and macro headwinds. </li> <li style="margin-bottom:15px">Absence of any significant cost rationalization measures will further impact the EBITDA break-even.</li> </ol> </p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648775a51e468d9d2090469a_Button%3A%20Investors%20%26%20Company%20Structure%20.png" style="display:block;height:auto;border:0;padding-top:40px;max-width:100%;margin-left:30px;width:339px" title="heading"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://finance.yahoo.com/news/exabeam-names-pravin-vazirani-board-130000686.html" target="_blank"> <b>Blue Owl Capital's Pravin Vazirani joins Exabeam's Board of Directors</b> </a> <br> <i style="color:#171723;font-size:14px">May 25th, 2023</i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Exabeam, a global cybersecurity leader and creator of New-Scale SIEM™ for advancing security operations, announced that Pravin Vazirani, Managing Director and Co-Head of Technology Investing in the credit division of the asset management firm Blue Owl Capital, will join its Board of Directors.<br> <a href="https://finance.yahoo.com/news/exabeam-names-pravin-vazirani-board-130000686.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:20px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>This development follows Blue Owl's investment in Exabeam in June 2021 at a valuation of US $2.4 billion. Vazirani’s position as a new board director is accompanied by additional investments from Blue Owl Capital and other existing Exabeam investors including Acrew Capital, Icon Ventures, Lightspeed Venture Partners, and Norwest Venture Partners. This reaffirms investor confidence in Exabeam which recently surpassed US $150 million in ARR. </p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648775ab57bdea5eb364b41a_Button%3A%20Legal%20%26%20Compliance%20.png" style="display:block;height:auto;border:0;padding-top:40px;max-width:100%;margin-left:30px;width:228px" title="heading"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://www.cnbc.com/2023/05/22/spacex-joining-faa-to-fight-environmental-lawsuit-over-starship.html" target="_blank"> <b>SpaceX set to join FAA to fight an environmental lawsuit that could delay Starship work </b> </a> <br> <i style="color:#171723;font-size:14px">May 29th, 2023 </i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">SpaceX requested that the federal court to allow the company to join the FAA as a defendant against environmental and cultural-heritage nonprofit groups that sued the aerospace regulator.<br> <a href="https://www.cnbc.com/2023/05/22/spacex-joining-faa-to-fight-environmental-lawsuit-over-starship.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:20px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>The lawsuit filed by environmental groups seeks for the FAA to conduct an environmental impact study - a lengthy and thorough procedure that would likely sideline SpaceX’s Starship work in Texas for years. <br><br> SpaceX Chief Financial Officer Bret Johnsen said "SpaceX has invested more than US $3 billion into developing the Starbase facility and Starship system since July 2014". SpaceX also has a NASA contract worth US $4.2 billion and several others worth millions that would be at risk if SpaceX's business is halted. </p> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300;text-decoration:none"> <a style="color:#002d9c;text-decoration:none" href="https://www.livemint.com/companies/news/byjus-refutes-claims-of-hiding-500-million-through-us-based-subsidiary-byju-alpha-11684478113696.html"> <b>Byju's sued by agent tied to US $1.2 billion loan </b> </a> <br> <i style="color:#171723;font-size:14px">May 18th, 2023 </i> </p> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Edtech giant BYJU'S has refuted claims that it is hiding $500 million through its US-based company, BYJU'S Alpha. Terming BYJU's Alpha as a non-operative US entity with no employees, the ed-tech company called the claims made in the Delaware court ‘bewildering’.<a href="https://www.livemint.com/companies/news/byjus-refutes-claims-of-hiding-500-million-through-us-based-subsidiary-byju-alpha-11684478113696.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;width:115px;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:20px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> <b>Our Experts' Opinion</b> <br>The lawsuit pertains to Byuj's transferring US $500 million from its Delaware entity Byju's Alpha to operating entities. While BYJU'S has admitted to transferring the funds, it claims the fund transfer did not ‘contravene any Credit Agreement. There has been no further decision on the matter yet. </p> </div> </div> </td> </tr> </table> <table id="wn" border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;background:#3257b0" width="100%"> <tbody> <tr> <td style="padding:20px 0!important"> <div style="font-family:sans-serif"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648c5e0b02d7b6250775add7_Asset%20219%404x%20(2).png" style="width:100%"> </div> </td> </tr> </tbody> </table> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;background:#fff" width="100%"> <tr> <td style="padding:20px 0!important;background:#f2efea"> <div style="font-family:sans-serif"> <div class="txtTinyMce-wrapper" style="font-size:12px;font-family:Poppins,Arial,Helvetica,sans-serif;mso-line-height-alt:18px;color:#1d1d1b;line-height:1.5"> <img id="id" class="mw-100" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e8e5b48acaee0a3d505cca_Asset%2084%406x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:350px" title="Banner"> <p style="margin-top:6px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">Discover interesting private markets facts and information right here!</p> <table style="width:100%"> <tr style="vertical-align:middle"> <td style="width:50%" class="w100-section"> <img class="mw-200" src="https://drive.google.com/uc?export=view&id=1lbEcIecZtd2PyZ8HFvHwizcQCMtlD8-h" style="display:block;height:auto;border:0;padding-top:40px;max-width:190px;margin-left:30px" title="heading"> <a style="color:#002d9c;text-decoration:none" href="https://www.linkedin.com/feed/update/urn:li:activity:7069152965445521410" target="_blank"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300"> <b>The Alternatives asset class comprised more than 20% of the total global AUM</b> </p> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300">As per a report by BCG Global, the Alternatives asset class comprised more than 20% of the total global AUM, marking a significant share. <br><br>Moreover, the asset class also accounted for half of the industry’s global revenues, generating US $190 billion+ in revenues for the firms that offer them. </p> <br> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7069152965445521410" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px;margin-bottom:40px" title="CTA"> <img src="https://global-uploads.webflow.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> </td> <td style="width:50%" class="w100-section"> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7069152965445521410" target="_blank"> <img class="image-blog" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648aae5d5726afd6e4abe40f_The%20Alternatives%20asset%20class%20comprised%20more%20than%2020%25%20of%20the%20total%20global%20AUM_4mb.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%" title="Banner"> </a> </td> </tr> <tr style="vertical-align:middle"> <td style="width:50%" class="w100-section"> <a style="color:#002d9c;text-decoration:none" href="https://www.linkedin.com/feed/update/urn:li:activity:7065278191476629504" target="_blank"> <p style="margin-top:36px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;color:#002d9c;text-align:left;font-weight:300"> <b>In 2022, Venture Debt grew 48% in India</b> </p> </a> <p style="margin-top:25px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:30px;color:#171723;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:left;font-weight:300"> In 2022, alternative sources of capital like venture debt grew 48% in India, with promising benefits for startups, such as access to non-dilutive capital and lower cost of funds. Moreover, a handful of venture debt funds have single-handedly driven this asset class to an AUM of US $800 million in 2022. <br><br>By 2025, it is estimated that the Indian venture debt market would deploy between US $3 and US $4 billion annually. </p> <br> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7065278191476629504" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:30px;margin-bottom:40px" title="CTA"> <img src="https://global-uploads.webflow.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%;margin-left:0" title="CTA"> </a> </td> <td style="width:50%" class="w100-section"> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7065278191476629504" target="_blank"> <img class="image-blog" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/648aae718adb45a4fc9f271b_In%202022%2C%20Venture%20Debt%20grew%2048%25%20in%20India_4mb.png" style="display:block;height:auto;border:0;padding-top:10px;max-width:100%" title="Banner"> </a> </td> </tr> </table> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;background:#fff" width="100%"> <tr> <td style="padding:20px 0!important"> <div style="font-family:sans-serif"> <div class="txtTinyMce-wrapper" style="font-size:12px;font-family:Poppins,Arial,Helvetica,sans-serif;mso-line-height-alt:18px;color:#1d1d1b;line-height:1.5"> <p style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;font-family:aktiv-grotesk,sans-serif;font-size:22px;color:#002d9c;text-align:center;font-weight:300"> <b>Intrigued to know more?</b> </p> <p class="w100-section" style="margin-top:16px;margin-bottom:0;margin-right:0;margin-left:0;line-height:1.5;padding-top:0;padding-bottom:0;padding-right:10px;padding-left:10px;font-family:aktiv-grotesk,sans-serif;font-size:16px;text-align:center;width:70%;margin:auto;font-weight:300;margin-top:10px;margin-bottom:20px">Discover exclusive private market opportunities today with Kristal Private Markets.</p> <div style="text-align:center"> <a class="gt-cta-2 gt-cta-10 onelink-signup" href="https://portal.kristal.ai/signup?af_js_web=true&af_ss_ver=2_7_0&pid=direct_kpm&c=mar-23al-kmp-led">Get Started ➔</a> <br> <br> </div> </div> </div> </td> </tr> </table> </div>
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