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PitchBook features a dedicated newsroom filled with full-time financial journalists who focus on delivering reliable coverage of global financial markets. Get to know our team. Our priority is our readers. We aim to be the key resource for up-to-date insights and information, utilizing our journalistic skills, exclusive data, and conventional news reporting methods. Our team consists of reporters, editors, analysts, data journalists, and designers, all of whom are well-trained and experienced in financial journalism. We are committed to maintaining the highest standards of editorial integrity and adhere to best practices in the industry.

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Trump targets Harvard's tax privileges, threatening donations to endowment

1 week ago | pitchbook.com | Jessica Hamlin

The Trump administration asked the Internal Revenue Service to revoke Harvard’s tax-exempt status after the school refused a list of demands to restore its federal funding, multiple outlets reported on Wednesday, citing anonymous sources.
How Cliffwater led a private wealth fundraising boom for interval funds

1 week ago | pitchbook.com | Alec Davis

In the race to make the illiquid private markets more liquid and inviting to more investors, one firm has stood out for its ability to raise billions of dollars—without relying on institutional sources. Cliffwater broke into fund management in 2019 with a debut evergreen fund dedicated to private credit across a diverse range of middle-market debt managers.
Elite university endowments confront a 'parade of horribles'

1 week ago | pitchbook.com | Jessica Hamlin

Endowment investment teams at top universities are exploring options to cash out of some of their public market investments, primarily through hedge fund redemptions, to compensate for federal funding cuts and prepare for potential tax increases. “Endowments are reviewing the liquidity terms of their hedge fund investments,” said Alexander Anderson, a partner at law firm O’Melveny, where he advises PE firms and their investors, including endowments, on federal tax issues.
EQT expects slow exits amid tariff uncertainty

1 week ago | pitchbook.com | Emily Lai

EQT expects market uncertainty to slow down exit activities, the firm said in its latest earnings call. The Swedish investment firm said on Wednesday that President Trump’s tariffs would not directly impact its portfolio companies, which mainly consist of businesses in healthcare, technology, software services and tech-enabled services. However, EQT expects its exit plans to slow down if volatility remains high, which will also impact the fundraising cycle.
Startups aren't abandoning Delaware—yet - PitchBook

1 week ago | pitchbook.com | Kia Kokalitcheva

Some publicly traded companies including Tesla and Dropbox have packed up and moved their legal homes from Delaware to Texas or Nevada, but the growing interest in relocating hasn’t turned into significant action among startups—yet. The country’s second-smallest state has been the default corporate domicile for decades thanks to its robust body of business case law, experienced and specialized judges, and highly flexible corporate statutes.
The House Fund raises $12M fund in 7 days to boost UC Berkeley AI research

1 week ago | pitchbook.com | Rosie Bradbury

The House Fund, a venture firm focused on UC Berkeley-affiliated startups, raised $12 million in a single week to fund spinouts from the university’s AI lab, it shared with PitchBook exclusively. The new fund is an effort to be a stop-gap as universities, including UC Berkeley, face federal funding cuts to research in the hundreds of millions of dollars.
Venture capital manufacturing deals were already declining before Trump's tariffs entered the picture

1 week ago | pitchbook.com | Michael Bodley

US venture capital funding for manufacturing startups has slowed since its 2021 peak—and now, President Donald Trump’s tariffs are injecting fresh uncertainty into the sector. US manufacturing startups notched 213 VC deals in Q1, according to the latest PitchBook–NVCA Venture Monitor. That puts 2025 on pace to fall well short of last year’s 1,004 total deals. But total deal value is ticking up with the market maturing since the 2021 boom, and valuations still buoyed by that era’s highs.
Europe’s VC market defies headwinds with strong start to the year

1 week ago | pitchbook.com | Leah Hodgson

Europe’s VC market got off to a good start this year despite increasingly volatile macroeconomics. Deal value reached its highest quarterly figure in over a year in Q1, although the dwindling number of rounds suggests that investors are still prioritizing quality over quantity. Here are five charts from PitchBook’s Q1 2025 European Venture Report highlighting key trends across dealmaking, exits and fundraising. Deal value in Q1 reached almost €17 billion, up 4.9% from the previous quarter.
Want to raise a new venture capital fund? That 10-year IRR better be in the double digits

1 week ago | pitchbook.com | Rosie Bradbury

VCs planning to raise a new fund in 2025 have a much better shot if their long-horizon IRR is in the double digits, according to new findings in the Q1 2025 PitchBook-NVCA Venture Monitor. Venture GPs that have raised a new fund since 2021 had an average 10-year IRR of 14.4%. Among the managers that haven’t raised a new fund, their average IRR was just 4.6% annualized over 10 years.
Tariff uproar to further slow distributions to LPs

1 week ago | pitchbook.com | Jessica Hamlin

Buyout funds’ lifecycles are getting longer and longer, to the chagrin of their investors. President Donald Trump’s tariff showdown will not make them any shorter. A standard PE fund has a lifetime of 10 years, meaning it deploys and returns the total capital LPs have invested in it by the time it’s a decade old.