Jun 15, 2024

The Federal Reserve is cautious about potential inflation, despite the recent encouraging numbers. The U.S. Consumer Price Index and the Producer Price Index both rose by the smallest amounts in a while, but the Fed has not revised their short-term interest rate projections. This has led to speculation about whether the March interest rate projections were inaccurate or if the recent inflation numbers are not indicative of future trends.

Another news story suggests investors look to the 1970s as a guide for navigating the current mixed-up economy. Additionally, a different asset is being recommended as a great indicator of risk appetites when stock markets are volatile. Norwest’s partner has started a “Failure Museum” collection of artifacts from capitalist calamity, impacting deal-flow. In the IPO market, Tempus AI raised $411 million, surprising many with its focus on healthcare and fully diluted market value north of $6 billion.

Several venture capital deals were also highlighted, including Enveda, a Boulder, Colo. drug discovery startup that raised $55 million in funding. In the public offerings realm, HMH Holding, an oilfield services joint venture, plans to seek around a $1.5 billion enterprise value with an upcoming IPO. Solaria, a Spanish solar developer, also saw its market value rise to around €1.5 billion on reports of unsolicited takeover approaches. Furthermore, Launch One Acquisition, a healthcare SPAC, filed for a $200 million IPO.

In other news, JPMorgan Private Capital raised over $500 million for a life sciences-focused fund. Nicole Perlroth, a longtime cybersecurity journalist, announced the launch of an early-stage cybersecurity VC firm called Silver Buckshot. Additionally, President Biden nominated Christy Goldsmith Romero as FDIC chair, and Richard Earnshaw joined FTV Capital as a London-based partner.

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