Venture Capital
It’s been 50 years since Venrock established itself to expose investors to venture capital opportunities. Today, the global venture capital industry tracks just south of $200 billion and continues to grow as new entrepreneurs, engineers, financiers, and thought leaders create the economy of tomorrow. The DailyAlts VC channel tracks the trends, opportunities, key thought leaders, and next-generation industries that will generate billions in returns.
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Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family offices, and institutional investors across Europe, with support from existing partners like Bpifrance and new backers such as mutual insurer Carac and the European Investment Fund.
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More Stories on Venture Capital
Venture Capital: May Mobility Scores $105M Series D Round Led By NTT
May Mobility, a pioneer in autonomous vehicle (AV) technology, has successfully closed a Series D funding round, securing $105 million in all-equity investments. This round was led by NTT Group (TYO: 9432), a major Japanese telecommunications company, and included contributions from both new and existing investors such as Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures, BMW i Ventures, Cyrus Capital, and Trucks Venture Capital. This funding round boosts May Mobility’s total funding to approximately $300 million.
Artificial Intelligence: IBM Unveils $500M Venture Fund To Invest In Generative AI Startups
IBM (NYSE: IBM) has announced the launch of a $500 million venture fund aimed at investing in AI companies, spanning early-stage startups to hyper-growth enterprises, all dedicated to advancing generative AI technology and research for businesses. The IBM Enterprise AI Venture Fund is unique in its approach, combining domain expertise from across IBM with a specialized portfolio development team to support AI leaders worldwide.
Artificial Intelligence: The Schwarz Group, Bosch, And Others Invest Over $500M In Aleph Alpha, A German AI Startup
The Schwarz Group, the owners of the Lidl supermarket chain, is part of a consortium investing over $500 million in the German artificial intelligence startup, Aleph Alpha. This investment is driven by the global surge in AI development. Schwarz Group, along with an AI hub in Heilbronn, co-leads this venture, which is also supported by the venture capital unit of Bosch, a major European car parts supplier.
Venture Capital: Dubai Economic Authority Launches Oraseya Capital, A $136M VC Fund
The Dubai Integrated Economic Zones Authority (DIEZ) recently unveiled a substantial venture capital (VC) fund known as Oraseya Capital, boasting a total value of AED 500 million, or around $136 million, dedicated to nurturing startup ventures. This sector-agnostic fund has a broad investment horizon, from pre-Seed stage to Series B, reflecting its ambition to support small and medium-sized enterprises (SMEs) in emerging sectors. Notably, Oraseya Capital is deeply committed to investing in cutting-edge technology.
FinTech: Brazilian Fintech QI Tech Lands $200M Series B Round
QI Tech, a licensed FinTech and Direct Credit Company endorsed by the Brazilian Central Bank, recently secured $200 million in its Series B round, led by General Atlantic. Existing investor Across Capital also doubled the size of its initial investment. Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech aims to revolutionize the credit market. The company’s goal is to simplify loan procedures and make credit more accessible beyond traditional banks.
Venture Capital: Next Insurance Nabs $265M Round; WeFox Raises $55M Convertible Debt
Next Insurance, a Palo Alto-based startup specializing in small business insurance, recently secured a significant strategic investment of $265 million. The funding came from insurance giants Allstate and Allianz’s investment arm, Allianz X. This infusion of capital marks a new strategic partnership with Allstate (NYSE: ALL) and further strengthens Next Insurance’s reinsurance relationship with Allianz (ETR: ALV). Notably, the startup, founded in 2016, has now raised over $1.1 billion in total.
Venture Capital: Soffinova Raises $200M For Investing In Digital Medicine Startups
Sofinnova Partners, a prominent European life sciences venture capital firm with offices in Paris, London, and Milan, has successfully concluded the fundraising for Sofinnova Digital Medicine I, amassing a total of $200 million (€190M), surpassing its initial target. Spearheaded by Partners Edward Kliphuis and Simon Turner, this fund is dedicated to supporting innovative entrepreneurs at the intersection of biology, data, and computation.
Venture Capital: Flourish Ventures Raises $350M To Build Financial Inclusion Across The Globe
Flourish Ventures, a venture firm specializing in fintech investments, has secured $350 million in funding, marking a significant milestone for its early-stage global venture fund. This new investment adds to the initial $200 million in portfolio investments and $300 million in capital obtained during the spinout from Omidyar Network in 2019. With a total of $850 million under management, Flourish is on a path to establish a permanent capital base, all while intensifying its commitment to fintech investments across the U.S., Africa, Asia, and Latin America. The primary goal is to foster a more equitable financial system.
Venture Capital: Kfw Capital Introduces “Emerging Manager Facility” To Back Small And Gender-Diverse VC Funds
Germany’s state-backed LP KfW Capital has introduced the ‘Emerging Manager Facility’ (EMF) to enhance diversity within the country’s VC ecosystem, an issue pervasive throughout Europe. The EMF is designed to invest in smaller VC funds with €50 million in assets under management, many of which are newly entering the VC market, and are managed by women or gender-diverse teams. These chosen VC funds can receive a maximum of €12.5 million or up to 25% of the fund’s total size.
Venture Capital: Top Drawer UK VC Firms Pledge To Help The Pension Industry Invest In High Growth Companies
A coalition of prominent UK venture capital funds, managing over £25 billion, has inked an agreement supported by Chancellor Jeremy Hunt, with the aim of boosting investments in high-growth companies across the nation. This initiative, part of a government-led effort to stimulate private investment in the UK prior to the chancellor’s autumn statement, has been dubbed a “huge win” for the country by Hunt. Notable signatories to this venture capital investment compact include SV Health Investors, led by former vaccines taskforce head Kate Bingham, and Northern Gritstone, chaired by former Goldman Sachs chief economist Jim O’Neill.
Venture Capital: BP Ventures To Invest $200M In Green Energy Startups
BP Ventures, the corporate venture capital arm of energy giant BP (NYSE: BP), is set to channel the majority of its investment capacity into disruptive green energy technology. They plan to invest $200 million in up to a dozen green technology start-ups this year, focusing on five key areas: bioenergy, electric vehicle charging, convenience, hydrogen, and renewables and power. This marks a significant shift from their historical allocation of 60% of investment capacity to green technology.
Venture Capital: OpenAI Looking For Investors At A Valuation Of $86B
OpenAI is in discussions with investors to sell shares at a staggering valuation of $86 billion, a threefold increase from its value just six months ago. This sharp rise in worth is attributed to the surging interest in artificial intelligence, which has significantly increased the market’s appetite for leading companies in the field.
Venture Capital: NYCEDC Launches Venture Access Alliance To Boost Diversity In New York Tech
The New York City Economic Development Corporation (NYCEDC) has introduced the Venture Access Alliance, a collaboration involving more than 70 startup investors in New York City. This initiative aims to enhance diversity within the city’s technology and venture ecosystem. The Alliance’s mission includes fostering diverse workforces, sourcing deals from Black, Indigenous, People of Color (BIPOC), and female founders, reevaluating due diligence procedures, tracking improvements in diversity data annually, and providing direct mentorship to founders. Key leaders of this effort include Fred Wilson of Union Square Ventures and Jarrid Tingle of Harlem Capital Partners, with support from the Ford Foundation, Annenberg Foundation, and Tech:NYC.
Venture Capital: General Catalyst And German VC Firm La Famiglia In Rare Merger Transaction
The German early-stage fund La Famiglia, known for its successful investments in companies like Personio and Deel, is teaming up with the prominent US venture capital firm General Catalyst, which has notably backed Airbnb (NASDAQ: ABNB) and other ventures. This merger is a rare occurrence in the world of venture capital, with one of the United States’ largest and most active investors strengthening its presence in Europe, reflecting the growing global importance of the European tech ecosystem.
Venture Capital: Indian Space Startup Agnikul Raises $26.7M For Small Satellite Rockets
IIT Madras-incubated Agnikul Cosmos recently completed its Series B fundraise, securing an impressive $26.7 million. This round included investments from notable funds like Celesta Capital, Rocketship.vc, Artha Venture Fund, and Artha Select Fund, along with continued support from existing investors like pi Ventures, Speciale Invest, and Mayfield India.
Venture Capital: Laphair Capital Partners Launches $100M Alpha Fund I, Targeting Companies Focused On Social Responsibility
LaPhair Capital Partners has unveiled its flagship venture capital fund, Alpha Fund I, with a substantial goal of raising $100 million for investment. This fund has a unique focus on social responsibility within high-growth markets, aiming to address systemic disparities by serving underserved communities. The fund’s strategy centers on early-stage companies and aspires to achieve a minimum return of 35 percent.
Venture Capital: Bedrock Energy Lands $8.5M For Its Geothermal Energy Solution Aimed At Commercial Buildings
Bedrock Energy, a tech startup specializing in geothermal heating and cooling systems, has secured $8.5 million in seed capital. This funding round, led by Wireframe Ventures and featuring participation from various investors including Overture Climate VC, Long Journey Ventures, and Climate Capital, is set to accelerate the manufacturing and deployment of innovative technologies. These advancements aim to enhance the economic viability of all-electric geothermal HVAC systems, ultimately contributing to Net Zero operations for real estate properties.
Venture Capital: Sony Establishes Entertainment-Focused Venture Fund For Startups In Africa
Sony Group Corporation (TYO: 6758) has unveiled the “Sony Innovation Fund: Africa,” an initiative designed to bolster the growth of the entertainment industry across the African continent. This move extends Sony’s commitment to fostering new business ventures worldwide, which began in 2016. The corporation has previously contributed to the expansion of startup companies through various funds, such as the “Sony Innovation Fund” (2016), focused on seed to early-stage companies, and the “Innovation Growth Fund” (2019), established in partnership with Daiwa Capital Holdings Co. Now, Sony is adding the “Sony Innovation Fund: Africa” to its lineup.
Venture Capital: Sea Drone Maker Saronic Scores $5M Series A
Saronic, a maritime autonomy company specializing in drone boats, has successfully secured $55 million in a Series A funding round, with Caffeinated Capital leading the investment. This round also saw participation from notable backers, including 8VC, U.S. Innovative Technology Fund, Andreessen Horowitz, Lightspeed Venture Partners, Point72 Ventures, Silent Ventures, Overmatch Ventures, Ensemble VC, and Cubit Capital. This substantial funding signifies Saronic’s commitment to addressing critical capability gaps at sea through attritable and autonomous platforms. With this infusion of capital, Saronic aims to accelerate its research and development efforts and expand its in-house manufacturing capabilities to facilitate rapid production.
Venture Capital: Wanda Fish Reels In $7M For Cultivating BlueFin Tuna Outside The Oceans
Wanda Fish Technologies, a foodtech start-up, has successfully secured USD 7 million in seed funding to expedite the pilot production of cultivated bluefin tuna. This funding round was led by Aqua-Spark, a Netherlands-based global aquaculture investment fund, with participation from pre-seed investors like The Kitchen Hub, Peregrine Ventures, PICO Venture Partners, MOREVC, and CPT Capital, totaling the company’s funding to USD 10 million since its inception in 2021.
FinTech: UK-Based kennek Gets €11.8M Seed Capital To Boost Private Credit With SaaS Product
London-based fintech company kennek has secured an impressive €11.8 million in seed funding. The funding round was led by HV Capital and saw support from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Founded in 2021, kennek’s primary mission is to simplify and enhance the non-bank lending sector, which has long grappled with complexity and inefficiency. Traditionally, lenders have had to rely on disjointed tools and data, resulting in significant costs and time consumption. Moreover, this approach has failed to capitalize on recent innovations like Open Banking, Open Finance, and Payments.
Venture Capital: Latin American VC Specialist Kaszek Ventures Amasses $1B For Investing In The Region
Kaszek Ventures, the leading venture capital firm in Latin America, has recently raised a substantial sum of USD $1 billion, bolstering its position in the region’s business ecosystem. Despite the challenging landscape of declining investments in startups throughout Latin America, Kaszek has bucked the trend with this funding. In 2022, the firm made just two investments, but by September of this year, it has already invested in seven companies, including a noteworthy USD $13 million investment in Colombian fintech company, Cobre.
Venture Capital: REGENT Lands $60M For Eco-Friendly Electric Seagliders
REGENT Craft, a Rhode Island-based manufacturer of all-electric seagliders, has successfully raised $60 million in Series A funding. The funding round was co-led by 8090 Industries and Founders Fund, with participation from Japan Airlines Innovation Fund, Lockheed Martin, Yamato Holdings, and Point72 Ventures, among others. This brings REGENT’s total funding to $90 million.
Venture Capital: Section 32 Raises $525M For Investing In Disruptive Tech And AI
Section 32 (“S32”) has successfully closed Fund 5, an oversubscribed investment pool totaling $525 million. This fund is earmarked to support and expand companies pioneering cutting-edge technologies. In alignment with S32’s legacy, Fund 5 will focus on backing companies that are pushing the boundaries in software and artificial intelligence (AI). The aim is to facilitate new capabilities and significant performance enhancements in various sectors, including enterprise software, cybersecurity, data infrastructure, gaming, fintech, precision medicine, and computational biology.