Tawfik Hammoud

Mergers and acquisitions are expected to grow by 6% in 2024, reaching nearly $3.1 trillion, recovering from a decline in 2023. After a post-pandemic surge, rising inflation and interest rates slowed dealmaking, but lower rates and continued profit growth in 2024 have reignited corporate interest in acquisitions. Almost 88% of CEOs surveyed by KPMG US show a strong appetite for deals, particularly in industries like industrials, healthcare, tech, energy, and financials. Industrials have led with over $230 billion in deals, and companies like Parker Hannifin are expected to continue acquisitions. Healthcare, with over $200 billion in deals, also remains active, with big pharmaceuticals like Merck looking to acquire smaller biotech firms to boost growth. The trend is expected to continue into 2025 as companies seek strategic growth through M&A. Read More Here: https://lnkd.in/e8ftnb6F Barron's Branded Hospitality Ventures Hospitality Headline Newsletter Ryan Roslansky Alex Gorsky Dave Ricks Albert Bourla Darren Woods Michael Wirth Marc Andreessen Carole W Streicher #MergersAndAcquisitions #BusinessGrowth #PrivateEquity #DealMaker

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Even in what I do, it can be hard not to over-focus on the short term, as I do battle with the latest groupthink or deliberate misinformation campaign. My conversation with Azeem really made me stop and think about the medium and long term trends again. The exponential nature of cost reductions and performance improvements in so many clean technologies is incredibly powerful. And yes, we know they are not truly exponential, but I dealt with that in my Superheroes piece - they might as well be. The exponential nature of technological change is not uncharted space. We have case studies from other industries, in particular from communications and computing, from which to learn. And learn we should. Azeem is a bit more optimistic about the speed with which the future will arrive; I am a bit more anchored in the sheer physicality and asset intensity of energy, transport and infrastructure. But we agree on a lot. When something good grows by 10-60% per year for many decades, the world is changed out of all recognition, and changed for the better. My only regret in this conversation is that we didn't explore what happens as exponential technologies increasingly support and reinforce each other. Maybe the topic of another episode! I hope you enjoy our conversation as much as we did! Please let us know.

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An exploding market that demands more attention: Women’s Health & FemTech. Women’s healthcare products and services are tracking to become a $1 Trillion global market by 2027. The menopause sector has grown by 74% in just the last 5 years. Historically, this hasn’t been the case. As of 2018, only 4% of R&D funding went to FemTech. According to McKinsey and Pitchbook, 0.1% of all Femtech funding went to menopause management and only 7% of Femtech companies address menopause care. Lack of awareness and education have long been barriers to funding and innovation: • Most OBGYN residents receive less than 4 hours of menopause instruction. • Women experiencing menopausal symptoms either don’t realize it or are dismissed when they express them. • HRT (Hormonal Replacement Therapy) is an effective treatment, but its risks have been misrepresented, stifling its popularity. It’s an injustice. And a missed opportunity: • Women control 80% of healthcare spending in the US • Women spend 25% more of their life in poorer health than men. Now? With transparency on social media and increased self-advocacy, the trend is changing. Influencers and celebrities opening up about their menopause journeys on social media have helped demystify what women experience, and what can support them through it. Real symptoms – hot flashes, insomnia, vertigo, fatigue, arthralgia or myalgia, headaches, palpitations, and more – are being validated and treated. Innovators in this space have an edge: While customer acquisition is relatively harder, customers tend to be stickier. For example, Otsuka’s acquisition of Bonafide in Nov 2023 was a strategic move to acquire a smaller company with great IP and a trusted brand. These are a few more interesting players in the menopause sector: • Embr and Moona, focusing on sleep management • Mina Health and MBody, for self-testing and wellness • Gennev, for virtual care Brands like these will play a role in transforming how we address pivotal care for women. My takeaways: The conversation around menopause and women's health is changing. It's time for innovators to step up and meet the growing demand.

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#Kudos to BC Partners for acting on the widely accepted wisdom that the success of an IPO is judged not only by the valuation it achieves, but also by how the stock price performs on listing day. Everyone knows this, but to see a PE firm doing something about it is rare. Which is curious as, overwhelmingly, pre-IPO owners almost always remain very large shareholders post-IPO and therefore retain a strong interest in the share price performing well for a long time to come. The obvious thing to do is to give that share price a head start by leaving value on the table. There is another argument: it usually takes management of newly listed companies two years or so to educate the Buy Side on their equity story, and to grow trust and confidence with institutional portfolio managers. Explaining the same fundamentals over and over again for that length of time is tedious enough as it is, but imagine the added pain if the share price tanks right at the start, stays under water for a long time, and CEO and CFO have to argue against that 'underperformance' at every conference, roadshow and 1on1 meeting. Soul-destroying. Respect, Nikos Stathopoulos and team. You did the right thing. https://lnkd.in/d8NCRpNa Pablo Mayo Cerqueiro

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M&A should be transformational not transactional. This compelling article delves into how forward-thinking organizations are shifting from transactional to transformative approaches, unleashing new avenues for growth. Learn why mindset matters and how embracing agility can turn uncertainty into opportunity. Packed with practical insights and real-world examples, this article is a must-read for leaders ready to navigate the dynamic landscape of M&A with confidence and innovation. Read Here: https://lnkd.in/g2kjKGKY Branded Hospitality Ventures #business #technology #venturecapital #MandA #networking #innovation Noah Stern Matthew Lerner Steven M. Elinson Lisa M. Negele Harvard Business Review Robin Elledge, PCC, SPHR Soren Kaplan Clifton Carmody, PCC

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James Carey, currently a partner at Next Sparc Growth Partners, provides insights into how family offices excel in strategic acquisitions within the competitive realm of mergers and acquisitions. Family offices distinguish themselves through their flexibility, personal touch, and creativity in deal-making, leveraging their own capital to structure deals with agility. Carey emphasizes that relationships with founders and entrepreneurs are pivotal in deal sourcing, underscoring the importance of trust and value creation in successful transactions. Key strategies include proactive deal sourcing through extensive networks and collaboration with top-tier firms, swift decision-making guided by experience and intuition, and rigorous due diligence based on strong rapport with sellers. Success stories range from explosive growth in minority investments to strategic exits that define success, highlighting the integral role of industry experts and operating executives throughout the M&A process. Read More Here: https://lnkd.in/gFfbGZwD Branded Hospitality Ventures Matthew Lerner #hospitality #innovation #venturecapital #MandA Noah Stern Miles Molyneaux Nathan Carmon Len Pagon

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The size of Canada combined with the geographic distribution of health conditions make the country ideal for multi-channel healthcare (e.g., Telehealth). Despite the significant demand for healthcare broadly, those business models haven't been able to achieve exponential growth or ideal unit economics just yet -- they've certainly grown and many are profitable, but millions of Canadians still lack primary care. It's a problem that's on the cusp of being solved (e.g., AI, integrated care) and could unlock significantly more access to care for Canadians. 

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💚 Sad to see Nori, a pioneering company in the voluntary carbon market space, closed its doors last week. 🌳 Pioneered in nature-based carbon removal, I love Nori’s commitment to driving transparency and collaboration in the space by open sourcing their methodologies which anyone can copy or amend even for commercial purpose, to facilitate common standards in the definition of credits for more efficient and scalable removal of greenhouse gases. 🫶🏻 Though the challenging VCM + funding environment closed its doors, still grateful for much ground work laid for future development of blockchain x carbon market by Nori #VCM #BlockchainForClimate

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Freeline and Swan to Spur new AAV Development... I couldn't resist. Syncona announced they are combining Freeline and Swan Bio to create Spur Therapeutics to advance the most viable components of the latter two companies' pipelines. That pipeline will be headlined by Freeline's Gaucher program (on the cusp of starting Ph3), and Swan's candidate in adrenomyeloneuropathy. Syncona previously took Freeline private to create new optionality for the company. This was after AAV headwinds had battered the stock and other candidates reached approval first in their prior lead therapies (hemophilia). This shows there's still interest in AAV and its proven delivery capability to diverse tissues and cells. But there is continuing culling in the industry's pipeline. Want to take a look at that pipeline? or think about how it impacts your own prioritization? Reach out and we can discuss! #venturecapital #genetherapy #pharma https://lnkd.in/g8-ZKp4C

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If you are a #Canadian #startup frustrated by the lack of #investment opportunities and wondering if #SiliconValley is worth the trip ... I wanted to share a few notable comments from #startups that recently participated in our CELS - Canadian Entrepreneurs in Life Science Showcase. To the companies that participated, I won't drop the F bomb and risk being banned from LinkedIn 😆 but feel free to chime in and share, in your own words, why you think your peers need to take a leap ✈️ and visit #SiliconValley. It's really close to 🇨🇦 but in so many ways, a 🌏 apart. ✍️ "A lot of the people we met with will be relevant in the future. CELS made the introduction. We now have to build the relationship." 💰 "Everyone we met with had a friend or a contact that is relevant to us, even if they were not in our space, so basically everyone we met with was relevant!!" 🚀 "The biggest take away was the different mentality. Risk taking is seen positively here! Innovation is seen as a value driver. Investors want to see the BIG idea!" 🎙 "The Showcase format allowed us to have meaningful conversations. There was lots of time for real networking. Everyone asked, 'what is your ask?'. That was so refreshing!" ⏰ "It's just more sophisticated here. Time to market is faster in the US. We didn't have to spend our time explaining the tech and it felt like conversations got progressively better". So the next opportunity to leverage Connection Silicon Valley to build your network here is May 14th to 16th - open to #FemaleFounders. Don't let fear stop you. If you are looking for global capital, #SiliconValley is where you need to be to build the right connections. Register here - https://bit.ly/48SDuzF Or DM me to chat!

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Great to see repeated reference to an expected increase in carve-out transactions in addressing the corporate divestiture backlog. Something we do clearly observe

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💡 Interesting article from McKinsey & Company https://lnkd.in/epAPVffD Thanks for sharing! YouKnowMeBest Tea Shashaj InnovaticGroup. Create the Future Now innovaticgroup.com #Innovation #Growth #Technology #Entrepreneurship #Investors #BusinessAngels #VentureCapital #LPs #GPs #DigitalTransformation #Digitalization #Startup #Scaleup #StartupInsights #InnovaticGroup

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The venture capital and M&A landscape is showing promising signs of resurgence. With valuations adjusting favorably and the IPO market reopening, opportunities for strategic acquisitions abound. While the first quarter saw a modest increase in deal activity, there's a palpable sense of anticipation for what lies ahead. Cash-flush buyers, buoyed by robust balance sheets, are poised to drive the next wave of innovation, particularly in AI and related fields. Regulatory hurdles persist, but optimism remains high as companies explore both IPOs and strategic acquisitions.The stage is set for a dynamic period of deal-making and portfolio expansion. Here's to a promising journey ahead! Read More Here: https://bit.ly/3yqhWh2 #VentureCapital #MnA #Innovation #BusinessGrowth #hospitality Branded Hospitality Ventures Crunchbase News Today Daley Ervin Jason A. Vita Shane Larisey, PE Diane Yoo Josh Barer

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"Simply put, there is too much capital seeking too few opportunities, particularly at the seed stage. Multi-stage firms have eliminated pricing discipline at seed stage and the proliferation of seed firms has made the task of investing at this stage as competitive as it’s ever been, leading me to believe that indexed seed investing in today’s environment will produce poor returns. What does this mean for today’s environment? It’s never been more important to break away from median performance. While there is risk in breaking away from the pack, the risk (at least performance wise) of staying part of the herd is simply far worse. Median returns for the recent vintages are simply terrible. One could argue that funds are still in their j-curve phases, but I suspect this doesn’t explain the divergence we’re seeing between GOOD performers and GREAT performers. More than ever before, it’s clear to me that playing the same game as everyone else will not work, so fund managers should question whether they are really capable of being in the top 5% of whatever strategy they are employing. From a LP perspective, allocators should likely ask the same of their managers and consider whether allocating to indexed mega funds or indexing across too broad of a portfolio of managers is tenable in achieving their return targets." https://lnkd.in/g8GqHY-P

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At Fortune’s Brainstorm Tech conference, an engaging discussion shed light on the evolving venture capital (VC) landscape. One of the key takeaways was the underscore of vibrant growth of the VC sector, with the number of firms soaring from 6,000 in 2013 to about 60,000 today. This surge in competition is driving VCs to innovate and refine their fundraising strategies, creating a dynamic environment for investment opportunities. Additionally, the session touched on how family offices provide flexible capital for smaller investments while emphasizing the thorough scrutiny required for larger funds. An emphasis on candid conversations among VCs and limited partners highlighted a commitment to fostering a more collaborative and forward-thinking investment community. Read More Here: https://lnkd.in/gHjJbtr3 Fortune Allie Garfinkle Branded Hospitality Ventures Hospitality Headline Newsletter #VentureCapital #Investment #hospitality #community Clara Shih Paulo Rosado #BrainstormTech Christine Moseley Rick Rose

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Just finished reading an insightful analysis by John Rikhtegar at RBCx on the Canadian venture capital landscape over the past decade, focusing on capital exited rather than capital invested. This deep dive sheds light on the challenges and successes of our venture ecosystem and provides valuable lessons for the future. Here are my top 5 takeaways: 1️⃣ Liquidity Volatility Challenges the VC Ecosystem Over 50% of Canada's exit value in the past decade occurred in just 2020 and 2021. This surge pulled fund cycles forward as GPs rushed to redeploy record waves of LP capital. Consequently, 2023 and 2024 have seen some of the lowest levels of capital allocated to Canadian venture in years. 2️⃣ The Dominance of Top 50 Exits A staggering 85% of Canada's aggregate exit value came from only 27% of all exits—the Top 50 largest. Achieving such large exit outcomes remains critical for VC investors aiming to build lasting franchises in Canadian venture. 3️⃣ Exit Success Isn't Just About Size There's a misconception that bigger exits equate to greater success. By evaluating exit capital efficiency (exit value relative to total capital raised), we can better assess the profitability to shareholders. Capital-efficient exits often yield higher returns, regardless of their size. 4️⃣ Canada's Exit Growth Outpaces the U.S. While smaller in scale, Canada's exit value and volume have grown faster than the U.S. over the past decade. Given that the U.S. VC market is 30x larger and more mature, this is a healthy sign for Canada's developing ecosystem. 5️⃣ Managing the Exit Value to Fundraised Ratio is Key To continue building a capital-efficient VC ecosystem, Canada must focus on improving its cumulative exit value to capital fundraised ratio. Shrinking the gap between Canada and the U.S. in this ratio is vital as we anticipate exit activity to rebound in the coming years. This analysis aligns closely with Ripple Ventures' strategy. At Ripple Ventures, we prioritize investing early and staying disciplined on entry valuations, all while focusing on capital efficiency. We believe that supporting capital-efficient startups not only drives better returns but also strengthens the overall ecosystem. It's encouraging to see data supporting this approach, emphasizing the importance of disciplined investing and capital efficiency in achieving successful exits. 📖 Read the full analysis below: #VentureCapital #CanadianVC #RBCx #RippleVentures #CapitalEfficiency #StartupEcosystem

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🌍 Bold talk from the boardroom. Now, time for the capital flow. 🌍 Congratulations to the CEOs who just signed the World Economic Forum’s Alliance of CEO Climate Leaders letter to #COP29, calling for urgent action on #climatechange. You’re not just talking the talk; you’re helping lay out what’s needed to secure a sustainable future. 📝👏 But words on paper only take us so far. Real impact? That takes dollars—lots of them—flowing into #climatetech, #renewable #infrastructure, and #sustainable #innovation. I know some of you are investing, but if you’re reading this and holding the purse strings, now is the time to truly "unleash the capital" and invest in solutions that can deliver real #gigaton-scale impact. Climate tech is ready. The innovators are waiting. Let’s make these commitments count. 💥 #COP29 #ClimateAction #ClimateTech #SustainableInvestment #ClimateLeaders #gigacorn #gigacornhunter #decarbonization

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