As forecast, we see the new normal of moderation emerging in the first month of 2022 with the concern over the triple threat of higher inflation, Fed rate hikes, and reduction of the Fed’s bond-buying program driving tech stocks into correction territory. This is good news for investors that have seen a frothy uptick in startup valuations and also bodes well for the M&A market.
Digital Industry continues to be in the investment spotlight with PitchBook predicting that agtech and AI will lead to emerging technology funding in 2022. Of course, Momenta is at the forefront with recent investments in Agtonomy, Edge Impulse, and Fixposition.
Global M&A continues to be hot rocketing to nearly $5T in 2021, per Pitchbook's Annual Global MA Report. The recent acquisition of FogHorn by Johnson Controls, and Wind River by Aptiv signal a strong start in 2022. In support of this, Momenta was pleased to support CNH Industrial in its acquisition of Raven and Spirax-Sarco in its acquisition of Cotopaxi, and there is more in the pipeline.
Finally, this is a traditional time to close out and celebrate the last year so please see some of our highlights below. It was a record year for Momenta and many of our peers, and we are already on a good pace to exceed that in 2022. The road ahead is bright.
Momenta is the leading Digital Industry venture capital firm accelerating digital innovators across energy, manufacturing, smart spaces, and supply chain. Led by deep industry operators across its venture capital, strategic advisory, and executive search practices, Momenta has made over 50 investments with notable exits to SAP, PTC, and Husqvarna.
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