Technology
Peak XV has made $1.2 billion in the year since separating from Sequoia
Peak XV Partners, the largest enterprise capital fund operating in India, has realized about $1.2 billion in profits since separating from Sequoia last year, two sources accustomed to the matter told TechCrunch.
The investor has sold stakes in nearly a dozen portfolio corporations that went public in the past year, including food delivery company Zomato, cosmetics retailer Mamaearth and anti-spam company Truecaller.
It has also sold stakes in some private startups, including K12 Techno, Pocket Aces, and PingSafe, through secondary deals and M&A. The company’s current funding totals $2.85 billion.
Peak XV declined to comment.
The wave of exits comes as the Indian stock market hits record highs and the country’s stocks are trading at a big premium to other emerging markets. Macquarie analysts said in a recent note that India’s price-to-earnings ratio is about 21 times, compared with 10 times for emerging markets overall, 14.5 times for global markets, 17 times for the U.S. and eight times for China.
The IPO window has also opened in the country, whilst the market for brand spanking new listings stays subdued in the U.S. and far of the world. Indian corporations have raised about $9 billion through IPOs this year, and more are expected to list before the end of the year, Bank of America analysts estimate.
The $500 million block trade in Peak XV portfolio company Five-Star Business Finance, which was initiated on Thursday, was accomplished at mid-11.30 am (India time).
Peak XV’s dominance in the region has generated a variety of interest and has piqued interest as a result of its scale and aggressive approach to investment. The company’s Surge program, which offers favorable terms and extensive resources for early-stage startups, has turn out to be a coveted entry point for young startups in India and Southeast Asia, somewhat eclipsing the appeal of Y Combinator.
Earlier this year, Peak XV informed its partners about the launch of an endowment fund supported by its own partners, which is an expression of great confidence in the company’s long-term strategy and the potential of the region.
The company’s journey, which began greater than a decade ago under the Sequoia banner, has culminated in a staggering $9 billion in assets under management, with a further $2 billion waiting to be distributed. Its portfolio includes greater than 400 corporations, greater than 50 of that are unicorns, and about 40 of which have annual revenues in excess of $100 million.
Peak XV has also facilitated more IPOs than another India-focused enterprise capital fund. Since 2020 alone, 15 corporations from its portfolio have gone public.
Last year, Sequoia split its China and India-Southeast Asia funds amid geopolitical tensions between the U.S. and China. The firms said they agreed to the split to avoid “increasing market confusion” and “portfolio conflicts between entities.”
The move sent shockwaves through the industry. Peak XV has since expanded beyond India and Southeast Asia, and has also expanded its team to the U.S.
In June this year, enterprise capital firm Matrix said it might also change the names of its subsidiaries in India and China.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Technology
It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
Technology
Apple Vision Pro may add support for PlayStation VR controllers
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
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