August by D’Ornano + Co.: Introducing the concept of “Growth Assets”, new interest of buyout firms for digital assets, the opportunity of Biden’s climate bill, a look at H1 European tech valuations

Dear all,

Welcome back from the summer break! The economy and the markets have only grown more challenging in recent months and investors – across all asset classes – must continue to adapt to this turbulence. The Fed is still in inflation-fighting mode, which means higher interest risks which in turns heightens the risk of a recession. But amidst this economic and geopolitical turmoil, the Private Markets continue to be transformed by Digitization, Decarbonization and Sustainability, which represent massive investment opportunities. If Digitization has been massively accelerated by Covid,  Decarbonization and Sustainability are emerging as a priority in light of global warming and rising inequalities. More than a priority, an imperative.

However to understand the economic models that arise out of these three megatrends, whether for new tech or tech-enabled companies or for disrupted incumbents willing to embrace the necessary changes, new frameworks are needed. The rules that existed b…