The Road Ahead
Theme of the Week
As Q3 concludes, we're spotlighting some notable insights from F-Prime over the past quarter (who have assembled a fintech market index). F-Prime’s fintech index demonstrates that markets are now less punitive towards companies maintaining robust growth (+40%) without profitability, as multiples have risen from 3.8x to 5x revenue for this subset.
i80 Group Portfolio News
Society Brands, a Canton, Ohio-based company designed to acquire and grow e-commerce brands, raised $25 million in additional funding from Gullane Capital, Callais Capital, and North Coast Ventures.
Market Insights
M&A expected to explode in 2024 as roughly 1,200 companies are expected to run out of money (Fortune)
Further thoughts on Sea Change (Howard Marks Memo)
Valuations and fundraising split (LinkedIn – Peter Walker)
Fintech in Q3 (Substack – Fintech Prime Time by F-Prime)
5 charts: Europe’s venture dealmaking still falling short (Pitchbook)
VC Insights
Focal Fintech: 25 startups to watch (Primary Venture Partners)
Fireside chat with Fred Wilson at USV and Mark Mullen at Bonfire Ventures (NYC Tech Week)
Venture capital restarts: navigating the funding desert to unlock extreme value (Tribe Capital)
Notable Capital Raises
Anyplace, a startup aimed at giving ‘digital nomads’ a comfortable place to work, nearly doubles valuation (TechCrunch)
iink puts its digital stamp on property insurance claim lending following $12M Series A (TechCrunch)