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đź’° Bain Capital raised $14 billion for its 14th flagship PE fund, marking one of the largest PE mega-funds to close this year. The vehicle represents a significant step up from its predecessor, and will target investments across the consumer, healthcare, industrials, services and technology sectors. Read more
🥕 Analysts debut our Agrifood First Look datasets—spanning VC dealmaking in the agtech, foodtech and consumer packaged foods markets in Q3. Here's a taste: Foodtech led the pack with $2.8 billion in funding—growing 64% from the previous quarter. Download the data
Plus...
• Our analysts find Electronic Arts' $55 billion buyout marks a reset for the gaming industry |
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| Q&A: Inside Oaktree's strategy for trading on the AI boom |
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| (Shabdro Photo/Getty Images) |
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We sat down with executives from Oaktree Capital Management to discuss new opportunities—and risks—emerging in the age of AI for distressed-debt investors, who are often known for their edge in trading market dislocations and mispriced assets.
For Oaktree, a distressed-debt titan that oversees around $200 billion in assets, betting on AI means leaning into the "picks and shovels" such as data centers, while minimizing exposure to incumbents whose business models are vulnerable to this disruptive technology.
In one example, the Los Angeles-based firm repurposed land acquired from distressed sellers in Europe into data centers, securing long-term leases with investment-grade hyperscalers.
Conversely, it is steering away from companies vulnerable to AI adoption, including call centers and white-collar staffing firms. In recent years, it has also reduced its exposure to the enterprise software sector, deeming both legacy and SaaS businesses susceptible to the disruptive technology. |
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| A message from Enterprise Ireland |
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| Sports tech is thriving in Ireland defying European trends for VC investment |
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Powered by PitchBook, Enterprise Ireland has launched a new report, showcasing Ireland’s dynamic sports tech sector, with 93 VC-backed companies, including 40 global innovators like Orreco and Kitman Labs. These firms collaborate with major global sporting brands including the NFL and NBA. Despite a European VC decline since 2022, Ireland’s sports tech VC deal count surged 47.1% in 2024, while Europe’s fell 15.5%. Since 2014, Irish startups raised €224 million across 181 deals, with key rounds for Kitman Labs, Xtremepush, and Output Sports. In 2025, Ireland ranks seventh in Europe for sports tech VC deals, first per capita, and has consistently ranked top four. Enterprise Ireland leads Europe with 19 sports tech investments since 2024, tripling the next most active investors. |
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| EA's $55B buyout marks reset for gaming sector |
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The planned take-private of Electronic Arts signals the gaming industry's growing role at the intersection of PE, M&A, sovereign wealth and global geopolitics, according to our latest analyst note.
The record $55 billion deal, backed by Saudi Arabia's Public Investment Fund, highlights the Gulf region's ambition to diversify beyond oil by leaning into gaming, esports and interactive entertainment. For EA, private ownership could offer breathing room to experiment with new models in live-service gaming and AI-driven development. |
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| News outfit backed by top VCs acquired by Paramount Skydance for $150M |
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| (Noam Galai/Getty Images) |
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VC heavyweights are cashing in on the sale of Bari Weiss' news organization, The Free Press, to Paramount Skydance for $150 million.
The deal is also a landmark for the startup Substack, the publishing platform that hosts The Free Press, which has grown into a major player in the independent media space. |
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| Since yesterday, the PitchBook Platform added: |
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771
Deals
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2229
People
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811
Companies
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16
Funds
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| The Daily Benchmark: 2020 Vintage Global Debt Funds |
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Trogenix, a UK-based developer of cancer therapies, raised a $95 million Series A led by IQ Capital.
Milan-based biotech startup NanoPhoria raised an €83.5 million Series A co-led by XGEN Venture, Sofinnova Partners and CDP Venture Capital.
Heidi, an Australian healthcare AI startup, secured a $65 million Series B led by Point72.
Paris-based cybersecurity startup Filigran raised a $58 million Series C led by Eurazeo.
San Francisco-based legal tech startup Harvey raised €50 million in new funding from EQT.
Bee Maps, a startup developing maps using AI, secured $32 million in new funding co-led by Pantera Capital, LDA Capital, Borderless Capital and Ajna Capital.
MediView, an AR surgical technology startup, raised a $24 million Series A led by GE HealthCare. |
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PE-backed Qualtrics agreed to acquire Press Ganey Forsta, a healthcare market research firm, in a $6.75 billion deal, the Financial Times reported.
Ares Management acquired a 49% stake in a renewable energy asset portfolio from EDP Renovaveis that is valued at around $2.9 billion.
A consortium led by Advent International and Corvex Private Equity is taking Heidrick & Struggles private in a $1.3 billion all-cash deal.
Apollo Global Management agreed to acquire Eagle Creek Renewable Energy, a US hydroelectric facilities operator.
ECI Partners extended its investment in CSL, a UK-based critical IoT connectivity provider, through its first continuation fund.
Bridgepoint Group acquired a minority stake in UK-based Chime Software, a construction-focused SaaS platform.
Madison Dearborn Partners and Navacord Corp. made strategic investments in Insurance Office of America, an insurance brokerage.
HGGC completed its acquisition of Sterling Brokers, a benefits brokerage and third-party administrator.
Abacus Global Management acquired AccuQuote, an online life insurance brokerage company. |
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| Catch our webinar series on healthcare |
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Healthcare is grappling with a paradigm shift, driven by technological innovation and direct-to-consumer services. Patients have access to more information and more self-service tools than ever. This historic shift is transforming patient-doctor relationships and has huge implications for the healthcare industry.
In the inaugural webinar of this series, PitchBook analysts will explore the rise of direct-to-consumer services in healthcare. Join us as we investigate recent growth in telehealth services, AI tools and GLP-1 therapies—and look ahead to the next wave of healthcare innovation.
Register now to secure your spot. |
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Executives from Advent-backed Waterstones and General Atlantic-owned Gymshark were among those who met UK finance minister Rachel Reeves about potential London IPOs, Sky News reported.
BCP completed the sale of its stake in Brown & Root Industrial Services, a US-based industrial services provider.
Securiti, a data privacy software startup, is in talks to be acquired by Veeam for around $1.8 billion, Bloomberg reported.
OpenAI is purchasing Roi, an AI fintech startup focused on personalization, for an undisclosed amount. Its CEO will join the company.
Cerebras has withdrawn its IPO filing. The company's CEO said the AI chipmaker still plans to go public but needs to update its business plans since it filed a year ago. |
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TCG Crossover raised $1.3 billion for its third fund, TCGX Fund III.
Crystal Venture Partners, a New York-based firm focused on the insurtech sector, raised $33 million for its first fund.
Sugar Free Capital closed its inaugural fund on $32 million. The vehicle will focus on backing early-stage founders from MIT. |
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