2024年第一季度财富科技报告（英）

DRAKESTAR WEALTHTECHREPORT APRIL2024 WV.DRAKESTAR.CCM ▪ INTHELAST16MONTHS,MAJORWEALTHTECHDEALSWEREDOMINATEDBYSTRATEGICBUYERS Tarsiet HQ Description Rationale DgalDate DcalValur: EV/REV EV/EBITDA Markets 2.-C5.+-...*-J-+10e(--0ce.±: IUNPERY Peunos+oeu+ltcuiled+e'trazeo PTU..**..it..r"...:".:[i..d+.. MPANERAx.lia'Jia. : I. ONest +..?.n*+*,gialr-+"ng*r:+tn-.-.VO BJECTWAY+xn.h"rnyn..ilitirsn*le"g.1. f..'lfA'ki... . 11/i1 11: r. V Vestwell :+++::dgi.drer.'rd:c:+.. "..r..a",.2r.aI'*.2=*2al? LLightspeedFir'ar:VesVlls-d+:Si"--dgec:"rvire FBLUEOWL '1: Alpheya wn'.'nalrn*r*r.nthr*sl--ft.f.r .-J.s:.I'lla,Iy*s.:dl,L:dv,ll+el.BN YMELLON.'Jit++*-willtt.ilglw*-I'.AllP,. s,:-'s.-illz-snewk:rrot:crot *-? .2 4 Adenza ....,. ++:n+..+.i:+vHyN:a','+rali:!. Nasdaqul.'el.o'Jr.'ecsr'v'u's*leslc +s.:=*1*l";-.itis.r. *0.5.: 1:2. r/a Burgiss c.usaso.5s+:e +r:I:. MSCIemeler'sr'.veeree-smidsdce.dwde. 1':: I/a BROADWAY I5-co2ou.lale3sf.2s-esue.--3aoca.*? Blo -....?[...-li'?".tr;*-.f.r"ir's.-n..l-htir.". Cel:e.2k'.nl.el!..*wije.I.glerr.. omberg i..:+;i.lli-.,:'d... re.:s r/a Altrust ..*.-clu..sendef(*+.*oocen?:ueer.- l:*t:-l.t:ir. daelanationon2c2?ugt.t?$.i$u?+..-e; NSGI++t+fanli. 1 I. cushon +.-.w.u..--.J..u.?.....wu..u... t'tili.:.+l:lie.& 5.c+A2sus.4te**u,$+/=5r,cue:l<? NatWlestGroup+*"eirtr*p+tyid:ar.dli. ucI*s.le..,s,.esaues.?s.=r=se11s.. ...:? I.: 11.: r. OKron .++::*+.::aIr:.fff.rir?cs torebrandCffK..;"*+'gIr:slr.+h.*..+ilr* I=..,**".xa.1*"P1"=,[2≤cP.]11..*4*,Y I.--? *DRAKESTAR***r:*:k:+-rr..n -.*,..-+*,r..--.*r",-,*-.1,(..:,,-?-..:r AFTERSHARPDECREASEINFUNDINGACTIVITY,INVESTMENTISSLOWLY STARTINGTOPICKUP rSr"l 23 67 1.712 KOHO Rais $277m 1.129 648 179: 14 605 783 3122 406 113 337332 48 '68 20360 178 1.432 2: 207 :.3 :23 :39 175 331 157 G:1222Q22022C:32022Q42022Q12023G22023Q32023Q42023Q1202< Ls.crstaeCarystagcScccl-otal I:.r.f.Jd::inrdecreased48.7%fromQ12023toQ1InQ12o24,investorsstartedshiftingtheirfocusbacktoearly- 2024.-'socc.r..cisdrivenbythecurrenteconomicandstagecompaniesasfearsofrecossor:rac:crsasingi-l:io? geopoliticalenvironmentooostoclrvcstoroctim's~ *DRAKESTAR**r:*:k:+-rr..n -*,..-++,r..-.:*r~,-*-.1,(. $98MIN2023 wealthTechDealCountandAverageDealValuel>2022-Q12024 Averagedealvalue"in2022:$44m Averagedealvaluellin2023:$98m Averagedealvalue"in12024: $145m 10.1%oftotalFinTechM&Aactivity 11.8%oftotalFinTechM&Aactivity B.o%oftotalFinTechM&A actlvity 133125136130126 102103100 1:4:0t:..78 29 :!.44 .53 8:1 66 27 32 .51 G12022 G22022 Q.52022 022022 FrivateEality 31202.5 ISt'aregics 02202.5 0.:2025 29 022025Q°2024 Comments: •I~Gl2c22.wcathTec~M&Acloa5accou-ocltorasigitl:lewcr ":r."lk:::s,drllH.r. n2o23.llowever,cesotetheclecrc:sc,tne3veraeMsaceavsl."asrsety4:%,in<217072vs205 •Gv=rllMkA#enlruedrnn=1581%inQ17072vs.27075 •heincresseinwegecealswaluswuscrienty:lrtrrgcti-il:tromstr=cack:cis *DRAKESTAR **r:*:k:+*rr...n .++;r...-,-)*,"..,--.,*+r.-.....-,.+?+",- CONTROL CLIPWAY THETOP5STRATEGICANDFINANCIALCONSOLIDATORSINWEALTHTECHFOCUSTHERACQUISITIONSONTHEU.S.ANDEUROPE TOPSMOSTACTIVEFINANCIALCONSOLIDATORS* snow GTREASURY #Hg Blackstono BPDZEIT TOP5MOSTACTIYESTRATEGICCQNSOLIDATORS velodrome coinbase Tradeweb FABRICBurgiss MSCI D) B21SCA wisatechgloba *DRAKESTAR**r::k:rr..n userid:444287,docid:167043,date:2024-07-05,sgpjbg.com • • • • • • • • • •