Market Pulse June 2026 (Finch Capital)

Summary

• Permira and Warburg Pincus completed the $8.4bn take-private of Clearwater Analytics on 25 June at $24.55 per share, representing a ~47% premium to the undisturbed price.p.2
• Pulse-sector funding rebounded 3.2x MoM in June 2026 to €2,668m across 130 rounds.p.2
• Capital Markets & Digital Assets drew €1,084m, accounting for 41% of total sector funding, driven by Sixth Street's $1bn minority investment in Kpler.p.2
• Capital Markets & Digital Assets posted the highest median Rule of 40 score among the six sectors at 57.p.5
• The top European venture capital deal in June 2026 was Kpler Holding's €857m round led by Sixth Street Partners.p.7
• The largest European exit of June 2026 was the €995m acquisition of Alexander Mann Solutions by Korn Ferry.p.8

Key insights

1. Public-to-private transactions are becoming the primary exit route for scaled software companies as sponsors take advantage of valuation gaps relative to public indices.p.2
2. Private funding is concentrating in sectors demonstrating strong public market metrics, specifically Capital Markets & DA with high Rule of 40 performance.p.2
3. The Finch Pulse Composite returned -22% over the LTM, underperforming major public benchmark indices such as the S&P 500 (18%) and STOXX Europe 600 (18%).p.3
4. Capital Markets & DA recorded the highest median EV/TTM Revenue multiple at 6.5x in Q2-26.p.4
5. Payments recorded the lowest median Rule of 40 score across all tracked sectors in Q2-26 at 22.p.5
6. The UK & Ireland generated the largest share of funding value among European regions in June 2026.p.6
7. Later-stage venture rounds dominated the top deals in June 2026, including major investments in health insurance platform Alan (€480m) and supply chain platform Twinco Capital (€165m).p.7