How evolving mindsets and innovation are building a better supply chain

Leveraged loan warning signs: In the first episode of Season 7, we take a look at the clouds gathering in the US and European leveraged loan markets. In the US market, we discuss sector-specific stress (3:00), our restructuring watch list (4:52), the near-term maturity wall (6:30), the CLO market (9:11), and secondary market gains in 2023 (10:35). We then discuss the European market (11:34), looking at the maturity wall (11:59), loan issuance (13:10), our loan market survey (14:30), and the credit quality of loans in the European Leveraged Loan Index (21:07). Our research analysts cap the episode with key indicators to track going forward (24:00). by In Visible Capital with PitchBook

28 min listen

The venture debt playbook: As the markets have turned south, venture debt seems to have become all the rage. But how many startups are actually raising it? This week, Armentum managing partner John Markell joins the podcast to unpack the world of venture debt. Markell shares his thoughts on how venture lenders go about underwriting young companies, why investors are souring on the consumer market, how venture debt differs from structured equity, and which types of startups should—or really shouldn't—raise debt. In this episode of Sapphire Ventures' series "GameChangers," Sapphire partner and Head of Revenue Excellence Karan Singh speaks with Forter's Chief Revenue Officer Marcus Holm about unlocking seller productivity and repeatability through value realization methodologies. Listen to all of Season 6, presented by Sapphire Ventures, and subscribe to get future episodes of "In Visible Capital" on Apple Podcasts, Spotify, Google Podcasts or wherever you listen. For inquiries, please by In Visible Capital with PitchBook

76 min listen

Seed's silver linings: Maëlle Gavet, CEO of Techstars, joins the podcast live from Web Summit 2022 in this bonus episode of the "In Visible Capital" podcast. Gavet unpacks Techstars' approach to pre-seed investing and talks investing in the Middle East and Africa, opportunities in the farm-to-fork supply chain, and why she expects VCs to start disappearing as LPs concentrate their capital. Check out the episode to hear why Gavet is optomistic about the early stage, despite a daunting geopolitical landscape. Listen to all of Season 6, presented by Sapphire Ventures, and subscribe to get future episodes of "In Visible Capital" on Apple Podcasts, Spotify, Google Podcasts or wherever you listen. For inquiries, please contact us at podcast@pitchbook.com. by In Visible Capital with PitchBook

27 min listen

Venture's gravity check: What looked like a recession at the onset of the pandemic turned out to be anything but: valuations inflated, funds grew and capital poured into the private markets. But, it couldn't last forever. In this week's episode of the "In Visible Capital" podcast, SignalFire founder and CEO Chris Farmer discusses why the venture capital balloon burst. Farmer also touches on how SignalFire leverages data to find and support entrepreneurs, why the firm turned to seed deals as a means of countering unsustainable valuations, corporate M&A and much more. Plus, PitchBook senior analyst Kyle Stanford joins to discuss key takeaways from the Q3 2022 US VC Valuations report. In this episode of Sapphire Ventures' series "GameChangers," Sapphire Partner and Head of Revenue Excellence Karan Singh speaks with former Mulesoft CMO and SVP of Corporate Strategy Mahau Ma, now Sapphire Operating Partner, about the transformation from a tactical product-led sale to a strategic vision-le by In Visible Capital with PitchBook

76 min listen

A new life for downside protection: Venture capital firm G Squared was founded with one idea in mind: venture-backed companies are staying private longer. And with the IPO market now frozen over, that thesis is proving true. In the latest episode of "In Visible Capital," G Squared founder and managing partner Larry Aschebrook checks back in with PitchBook senior editor James Thorne to discuss why his firm is pressing pause on the secondary market as primary investors load up deals with downside protection, and what those protections look like in an uncertain market. Aschebrook also touches on the consolidation of capital with consistent GPs, the uncertain future of the SPAC market, and how founders are coming to terms with the current fundraising environment. In this episode of Sapphire Ventures' series "GameChangers," Sapphire partner and Head of Revenue Excellence Karan Singh speaks with Unity Global VP of Sales Laura Palmer about how to solve real problems in a category creation by In Visible Capital with PitchBook

67 min listen

VC's New York story: Interplay managing partner Mark Peter Davis joins the podcast to discuss the advantage and disadvantages of being a VC in New York, the ins and outs of entrepreneurship, and how Interplay approaches investments in the blockchain space—while avoiding the crypto hype. Plus, PitchBook senior news editor James Thorne shares insights from his reporting on the exodus of executive leadership at Softbank. In this episode of Sapphire Ventures' series "GameChangers," Sapphire partner and Head of Revenue Excellence Karan Singh speaks with Figma VP of Growth Marketing Jesus Requena about how to define and redefine your ICP to unlock the revenue engine. As a proven marketer at Algolia, Unity and now Figma, Jesus walks through steps of how he has achieved highly prioritized ABM motions at each of the companies. Listen to all of Season 6, presented by Sapphire Ventures, and subscribe to get future episodes of "In Visible Capital" on Apple Podcasts, Spotify, Google Podcasts or w by In Visible Capital with PitchBook

80 min listen

From science fiction to science fact: Lux Capital co-founder and managing partner Josh Wolfe joins the podcast to discuss why it's always a good time to be investing in the future. From nuclear power to computers that can smell, Wolfe shares which technologies and sectors he is most bullish on and dives into his skepticism of the recent Inflation Reduction and CHIPS acts. Check out the episode to hear more about Lux's strategies and which kind of companies—and investors—Wolfe expects to see survive the downturn. Plus, PitchBook analyst of fund strategies and sustainable investing Anikka Villegas shares insights from the latest PitchBook Sustainable Investment Survey and her recent analyst note ESG and Impact Investing in Private Market Real Estate. In this episode of Sapphire Ventures’ series “GameChangers,” Sapphire Partner and Head of Revenue Excellence Karan Singh speaks with Procore Head of Corporate Strategy & Execution Ryan Butler about “unlocking the box” – how he has executed by In Visible Capital with PitchBook

71 min listen

VCs dust off their term sheets: PitchBook senior editor James Thorne sits down with Brad Feld, partner and co-founder of early-stage VC firm Foundry, to discuss how venture investors behave in a downturn, why entrepreneurs may want to steer clear of structured deals, and why so many good companies are born in such bad times. Plus, PitchBook senior analyst Kyle Stanford joins to discuss key takeaways from the Q3 2022 PitchBook-NVCA Venture Monitor and Quantitative Perspectives: Silver Linings on the Time Horizon. In this episode of Sapphire Ventures' series "GameChangers," Sapphire partner and Head of Revenue Excellence Karan Singh speaks with Forter's Chief Revenue Officer Marcus Holm about unlocking seller productivity and repeatability through value realization methodologies. by In Visible Capital with PitchBook

72 min listen

The new PE behavioral health play: Investment in behavioral health companies has exploded in recent years, with a notable uptick in private equity activity since the beginning of the pandemic. PE firms closed over 70 buyouts in behavioral health in 2020, more than double 2016's number, according to PitchBook data. In this episode, PitchBook PE and healthcare senior analyst Rebecca Springer welcomes Avi Jayaraman and Dexter Braff for a discussion about the rapidly evolving behavioral health industry and how private equity is helping to drive innovation in the space. Jayaraman co-founded Sonara, which provides a remote solution for medication-assisted opioid addiction treatment. Braff is president of The Braff Group, an M&A advisory firm specializing in healthcare. They share their thoughts on growth and greenfield opportunities in behavioral health, the advantages and challenges that PE firms face when operating in healthcare, how technology can bridge staffing shortages and more. Plus by In Visible Capital with PitchBook

69 min listen

M&A in a time of change: PitchBook financial writer Marina Temkin interviews Union Square Advisors' Emily Anderson, who leads the firm's private equity practice. Anderson shares her thoughts on the current M&A environment in a time of declining valuations and rising interest rates and how it could affect private equity activity. Plus, host Alexander Davis shares some insights from his recent reporting at SXSW, as well as the PitchBook news team's two-year retrospective on the pandemic. In the Upwork segment of "Innovations in Private Equity," special guest host Tony Buffum talks to TPG's Anilu Vazquez-Ubarri about diversity, equity and inclusion. Anilu discusses the impact and contribution diverse teams with varied perspectives have on innovation within PE firms. Listen to all of Season 5, presented by Upwork, and subscribe to get future episodes of "In Visible Capital" on Apple Podcasts, Spotify, Google Podcasts or wherever you listen. For inquiries, please contact us at podcast@pit by In Visible Capital with PitchBook

58 min listen

PE's public market play: After some of the largest private equity firms—including Blackstone, Apollo Global Management, KKR, The Carlyle Group and Ares—went public nearly a decade ago, a new wave of US and European PE firms is hitting the public markets. In this episode of "In Visible Capital," private equity reporter Ryan Prete sits down with Wylie Fernyhough, PitchBook lead PE analyst, to discuss the performance of these publicly traded PE firms, how they have adapted to having public shareholders, the impact of current market volatility and more. Also, PitchBook PE analyst Jinny Choi shares key takeaways from her recent analyst note on the growing prominence of US PE mega-deals and exits. In the Upwork segment of "Innovations in Private Equity," Tim Sanders is joined by Jon Finger, partner at McGuireWoods, an international law firm with expertise in private equity. Jon covers topics from M&A to ESG goals and which innovations in private equity are standing out right now. Listen t by In Visible Capital with PitchBook

47 min listen

The ABCs of ESG for PE Firms: Tom Eveson, Sustainalytics' director of sustainable finance solutions and ESG for the Americas, joins PitchBook lead analyst Hilary Wiek to share his thoughts on how PE firms can support their portfolio companies in managing ESG risk, nonobvious factors that contribute to assessing that risk, what capital pressures are mainstreaming ESG and more. Plus, Ryan Prete joins to discuss his recent reporting on how major players in private equity are making sustainable investments. In the Upwork segment of "Innovations in Private Equity," Tim Sanders is joined by Jody Greenstone Miller of Business Talent Group. Jody reveals why PE firms are gravitating toward high-end freelance consultants and contractors to unlock value across portfolios. She also discusses the interim-executive opportunity for PE firms looking to upgrade or fix portfolio company C-Suites. Listen to all of Season 5, presented by Upwork, and subscribe to get future episodes of "In Visible Capita by In Visible Capital with PitchBook

49 min listen

Investing in (and with) technology at Advent International: As a private equity industry stalwart, Advent International has invested in just about every industrial sector except tech—until recently, that is. As the East Coast firm builds up its tech practice, head of Advent Tech Bryan Taylor shares his thoughts on the firm's tech strategy, how it assembled its investing team and why recent turmoil in the market might affect buyout opportunities. Also, London Bureau Chief Andrew Woodman and senior analyst Dominick Mondesir join to discuss the European PE landscape, as well as findings from the 2021 European PE Breakdown. In the Upwork segment of "Innovations in Private Equity," Tim Sanders is joined by Insight Partners Managing Director Hilary Gosher as she shares the impact of talent transformation on unlocking value and increasing speed to market. Listen to all of Season 5, presented by Upwork, and subscribe to get future episodes of "In Visible Capital" on Apple Podcasts, Spotify, by In Visible Capital with PitchBook

63 min listen

Seeking alpha while doing good: PitchBook's London Bureau Chief Andrew Woodman interviews Eric Taylor, founder and CEO of Trident, to discuss how asset managers often overlook the S and G of ESG. Taylor shares his thoughts on how private equity can use diversity and inclusion to drive better returns, what tech can be used to remove unconscious bias from investing and where the industry has room to improve. Plus, Anikka Villegas joins the show to share insights from her Pitchbook Analyst Note: ESG, Impact, and Greenwashing in PE and VC. In the Upwork segment of Innovations in Private Equity, Tim Sanders is joined by Blackstone’s CTO, John Stecher, to discuss how PE firms are leveraging cloud computing and digitization from deal sourcing to operations. We’ll highlight how cloud-based solutions like tech clouds and talent clouds help PE firms and their portfolio companies go to market faster. Listen to all of Season 5, presented by Upwork, and subscribe to get future episodes of "In Vis by In Visible Capital with PitchBook

53 min listen

Changes within private equity: "In Visible Capital," our podcast on the private markets, is back for its fifth season, launching on Feb. 22. This time, we've dedicated the whole season to private equity and the sweeping change across the asset class. Join us for wide-ranging conversation, analysis and highlights of the most compelling new trends affecting private equity. We look at the ways that PE has been reinventing itself in recent years. You'll hear from investors, analysts and our own reporters detailing how PE firms are increasing bets on the tech sector, and embracing industry innovation like earlier-stage investing, data-driven strategies and navigating environmental, social and governance goals. This season is presented by Upwork. by In Visible Capital with PitchBook

8 min listen

VC Bradley Tusk on how startups can get their way with regulators: Political strategist and VC Bradley Tusk joins the pod to discuss the importance of assessing regulatory risks for startups, how passion-inspiring tech succeeds, the state of the SPAC market and more. Also, PitchBook senior analyst Kyle Stanford joins to discuss key takeaways from the 2021 Q3 PitchBook-NVCA Venture Monitor report, which we will discuss further during a webinar on Nov. 3. by In Visible Capital with PitchBook

47 min listen

Seeding the next generation of UK unicorns: Ian Connatty, managing director for funds at British Patient Capital joins the show to help us explore the VC ecosystem in the UK, including why we may be seeing larger rounds for UK companies, what changes could create a more favorable exit environment and more. This is the last weekly episode of Season 4, but stay tuned for more timely in-depth conversations on your podcast feed and through PitchBook webinars. by In Visible Capital with PitchBook

25 min listen

How non-dilutive financing could reshape VC: Miguel Fernandez, co-founder and CEO of Capchase, and Matt Burton, partner at QED Investors, discuss the growing number of options for founders to raise capital outside of traditional VC and venture debt. Plus, Hilary Wiek joins to share findings from the 2021 Sustainable Investment Survey (with more to be shared in our upcoming webinar). by In Visible Capital with PitchBook

46 min listen

Soccer clubs, the Super League and the future of sports investing: Joe DaGrosa, chairman of DaGrosa Capital Partners and Kapital Football Group, joins the pod to discuss why current European football club valuations present an intriguing near-term opportunity for investors and how shifting audience behaviors will impact investments in professional sports. by In Visible Capital with PitchBook

39 min listen

Why a hedge fund joined VC's cybersecurity arms race: Hosts Adam Lewis and Alec Davis discuss recent coverage of the femtech frenzy, PE's march on VC and an update on the red-hot fintech space. Then, Maverick Ventures managing director Matt Kinsella joins the pod to discuss why hedge funds are getting to venture, how that influx of capital will impact the industry, and the never-ending arms race within cybersecurity. by In Visible Capital with PitchBook

33 min listen

LPs' take on the changing world of venture: PitchBook senior analyst Joshua Chao discusses key trends from the H1 2021 Greater China Venture Report before Hamilton Lane managing partner Miguel Luiña joins to share his perspectives on the challenges facing emerging fund managers, the democratization of venture capital and the lack of liquidity for venture investors. by In Visible Capital with PitchBook

32 min listen

Private equity's sports investing playbook: PitchBook senior editor James Thorne discusses the risks facing VC investors with stakes in Chinese companies as a regulatory crackdown looms, and then RedBird Capital managing partner Rob Klein joins the show to discuss the firm's sports investing strategy, including recent deals for stakes in the Boston Red Sox, Liverpool FC and, alongside Dwayne "The Rock" Johnson, buying the XFL out of bankruptcy. by In Visible Capital with PitchBook

36 min listen

The rise of Edison Partners in the PE growth landscape: PitchBook emerging technology analyst Robert Le shares some insights from the Q1 and Q2 Insurtech reports before Edison Partners general partner Kelly Ford joins the show to discuss how that New Jersey-based investor has successfully transitioned from venture capital investing to growth equity while specializing in the enterprise software space. Ford also shares insights into how Edison has managed to exceed benchmarks in hiring a diverse workforce. by In Visible Capital with PitchBook

48 min listen

The venture ecosystem’s fundraising shakeup: PitchBook’s head of Emerging Technology Research shares insights from our latest Emerging Technology Indicator report before Alexander Davis chats with Samir Kaji, a veteran Silicon Valley VC fundraising adviser and co-founder of Allocate. Kaji breaks down how venture capitalists increasingly are opening up their fundraising beyond big institutional partners to family offices, individuals and independent asset managers. This episode is sponsored by Vanta. by In Visible Capital with PitchBook

34 min listen

Venturing outside Silicon Valley: PitchBook's Lead Quantitative Research Analyst Andy White joins to discuss the trends his team is seeing within the data in our latest U.S. VC Quantitative Perspectives report. Then, Collin Gutman, co-founder and Managing Partner of SaaS Ventures, shares his thoughts on what it takes to grow venture ecosystems in cities outside traditional tech hubs and why he’s more bullish than ever on the future of tech. This episode of “In Visible Capital” is sponsored by Vanta. by In Visible Capital with PitchBook

53 min listen

"The Cult of We" with Eliot Brown: Eliot Brown, a reporter for the Wall Street Journal, joins the show to discuss "The Cult of We: WeWork and the Great Start-Up Delusion," the book he co-authored with Maureen Farrell detailing the rise and fall of WeWork. Hear stories uncovered during their in-depth reporting as co-host Alec Davis and Brown dig into the lessons that investors can take from this story. by In Visible Capital with PitchBook

52 min listen

In-depth conversations coming soon in Season 4: Season 4 of PitchBook’s In Visible Capital podcast launches on Aug. 3. Tune in to hear from a wide range of players in the private markets, including investors, founders, analysts and journalists. by In Visible Capital with PitchBook

4 min listen

Private equity's sports play: Headlined by Arctos Sports Partners acquiring a 5% stake in the Golden State Warriors in April, private equity has pushed further into the sports investing space over the past few years. PitchBook analyst Wylie Fernyhough joins the "In Visible Capital" podcast to discuss his recent analyst note about what’s driving the trend, including less restrictive ownership rules within leagues, skyrocketing valuations, the need for liquidity among current owners, the chance to achieve lofty returns for new investors and the clout that comes with owning some of the most scarce, high-profile assets available. Listen now wherever you get your podcasts. by In Visible Capital with PitchBook

20 min listen

Emerging technologies from real estate to air taxis: Record-breaking VC activity over the past year has fueled innovation within emerging technologies. In this episode, sponsored by Ansarada, we take a look at where we live, how we work and how we might move between those locations by exploring electric vehicles, air taxis and real estate technology with PitchBook senior analyst Asad Hussain and quantitative research analyst Zane Carmean. by In Visible Capital with PitchBook

54 min listen

Autonomous finance's obstacles and opportunities: Autonomous finance uses AI to make financial decisions on behalf of consumers without the need for direct human input. The service has become especially relevant over the last year as consumers have struggled to maintain financial health during the COVID-19 pandemic. In this episode, Paul Condra, head of emerging technology research, and Robert Le, senior emerging tech analyst, discuss how autonomous finance helps consumers better manage their financial health and performance, as well as the challenges for the technology—including computing costs, consumer trust, regulations and transaction categorization by In Visible Capital with PitchBook

30 min listen

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