TLDR

MARKET RECAP → The Nasdaq (QQQ) climbed on Tuesday, led by Nvidia's (NVDA) gains, as investors brushed aside escalating geopolitical tensions between Ukraine and Russia.

EUROPEAN TECH FUNDING STABILIZES AMID DECLINE → Europe’s tech funding dipped to $45B in 2024 but showed signs of stabilizing. Atomico predicts reforms could drive growth and Europe’s first $1T tech firm.

BLACKSTONE BUYS JERSEY MIKE’S FOR $8B → Private equity giant Blackstone sealed an $8B deal to acquire Jersey Mike’s Subs, fueling its franchise expansion streak and fast-casual growth ambitions.

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TODAY’S TOP NEWS

European Tech Funding Stabilizes Amid Decline

📉 European tech startups were projected to secure $45 billion in funding for 2024, slightly below 2023’s $47 billion, marking the third consecutive annual decline but signaling market stabilization as valuations improved.

🌍 Atomico highlighted structural challenges like fragmented regulations and limited pension fund investments in tech. However, reforms underway across Europe could unlock billions for scaling startups.

💡 Optimistically, Atomico forecasted Europe’s tech ecosystem could reach an $8 trillion valuation by 2034, potentially minting its first trillion-dollar company within a decade.

TODAY’S TOP NEWS

Blackstone Buys Jersey Mike’s Subs For $8B

🥪 Major Franchise Investment: Blackstone struck an $8 billion deal to acquire Jersey Mike’s Subs, signaling continued private equity interest in fast-casual franchises. This move follows Roark Capital’s $9.55 billion purchase of Subway last year.

🌟 Growth Story in Progress: Jersey Mike’s, founded in 1956 and boasting over 3,000 locations, sees the deal as a springboard for expansion. CEO Peter Cancro will retain equity and leadership to guide the brand’s next chapter.

💰 Blackstone’s Franchise Frenzy: With $1.1 trillion in assets under management, Blackstone has been active in food franchise investments, including Tropical Smoothie Cafe and 7 Brew Coffee. Their strategy aims to accelerate high-growth businesses like Jersey Mike’s.

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