July 18, 2024

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Hi there,

Here is this week's Hot or Not.

Shell is the most active oil & gas company across tech investments, acquisitions, and partnerships in our latest analysis of energy leaders' activity here.

It’s consummated 160 deals since 2021, including 123 partnerships and 34 investments.

For example, Google signed its largest offshore wind power purchase agreements (PPAs) with Shell and its collaborator Eneco in February 2024.

The number of new fintech unicorns (startups valued at $1B+) has slowed to a crawl.

Last quarter saw just 2.

In Q2’21 for comparison, 49 new fintech unicorns were birthed.

Which US health systems are best prepared for the AI shift?

Its AI deal-making activity highlights some areas where the tech is picking up steam in healthcare.

For example, at the end of 2023, it backed a round for genAI-powered clinical documentation startup Abridge.

Other evaluated health systems that have backed Abridge include Kaiser Permanente, Mass General Brigham, UPMC, and Lifepoint Health.

The company is part of a broader cohort of genAI copilots gaining attention for helping doctors speed up admin tasks like note-taking.

There is markedly less early-stage activity in digital health in 2024.

Historically, early-stage deals have been ~65% of deals.

This trend has played out across major geographies globally.

Fewer seeds planted in a sector is not good over the medium- to long-term as well.

I love you.

Anand

P.S. Beyond digital health and fintech, what’s happening in the venture market more broadly? Dive into trends playing out across the entire venture landscape with our analyst.

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