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.
Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from Matrix Partners is their largest dedicated to India so far.
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Venture Capital: German Startup Hortiya Seeks To Bring Generative AI To Food Production
Hortiya, a European startup founded in 2020, is using generative AI to build a model that can speak “the language of plants” to make food production more sustainable. Hortiya is applying the technology behind large language models (LLMs) like GPT-4 to the food production industry with the aim of reducing the amount of energy used in food production.
Venture Capital: L’Oréal Backs Consumer-Focused VC Fund IV Of DSG Consumer Partners
French cosmetics giant L’Oréal (EPA: OR) has invested in DSG Consumer Partners IV, a Singapore-based venture capital firm focused on consumer goods startups in Southeast Asia and India. This investment marks L’Oréal’s second investment in a fund targeting consumer trends in the region after a 2019 investment in Fireside Fund II, which supports innovative Indian consumer brand startups.
Venture Capital: Insect Farmer Ÿnsect Lands €160M Funding, Lays Off 20% Workers
Ynsect, a French insect farming startup, has raised €160m in equity financing but is also cutting 70 jobs, around 20% of the company, to fast track its achievement of profitability.
Venture Capital: CapitalG, Alphabet’s Venture Capital Arm, Leads $100 Million Investment In AlphaSense
Alphabet’s (NASDAQ: GOOGL) venture capital arm, CapitalG, has led a $100 million investment in AlphaSense, a corporate data firm that provides information on businesses to inform corporate and investment strategies, valuing the company at $1.8 billion.
Venture Capital: Prime Brokerage Clear Street Scores $270M Series B Investment
New York-based independent prime broker, Clear Street, has announced a $270m investment from Prysm Capital, which is the second tranche of a $435m Series B funding round. The investment values the company at $2.0 billion.
Digital Assets: CryptoGPT, A Startup Focused On AI Development Using Blockchain Technology, Nabs $10M
CryptoGPT, a layer 2 blockchain that uses zero-knowledge (ZK) technology, has raised $10 million in funding through a Series A round. The funding, which was led by DWF Labs, a market maker known for its investments during bearish market conditions, garnered a valuation of $250 million for CryptoGPT.
Venture Capital: Precision Heart Care Startup HeartFlow Lands $215M Funding
HeartFlow, a company that is revolutionizing precision heart care, has recently announced the closure of a Series F funding round worth $215 million. The funding was led by Bain Capital Life Sciences and saw participation from new investor Janus Henderson Investors, as well as existing investors including Baillie Gifford, Capricorn Investment Group, Hayfin Capital Management, HealthCor, Martis Capital, USVP, and Wellington Management.
Venture Capital: Indian Electric Mobility Solutions Provider Magenta Mobility Lands $22M
Magenta Mobility, an electric mobility solutions provider based in Mumbai, has secured $22 million (approximately Rs 180 crore) in Series A1 funding from bp Ventures and Morgan Stanley’s India-focused infrastructure fund. The investment will be used to expand the number of electric vehicles from 750 to 4,000 by March 31, 2024, as well as to expand operations in 15 cities and enhance tech capabilities.
Venture Capital: Kaszek VC Raises About $1B For LatAm Investments
Kaszek Ventures, the largest venture capital firm in Latin America, has secured almost $1 billion for two new funds to invest in the region, despite a recent decline in financing for the tech industry.
Venture Capital: Cure Ventures Closes $350M Fund For Innovative Life Science And Biotech Startups
Cure Ventures has raised $350 million in its inaugural fund to provide funding to biotech startups. The fund was backed by city and state pension funds, a U.S.-based sovereign fund, foundations, endowments, and hospital systems.
Venture Capital: Accel-KKR Wraps Up $5.3B For Two New Funds
Accel-KKR, a technology-focused private equity firm, has raised $5.3 billion in new capital commitments for two funds: Accel-KKR Capital Partners VII LP and Accel-KKR Emerging Buyout Partners II LP. Accel-KKR invests in technology companies through various funds and strategies, including Buyout, Emerging Buyout, Growth Capital, and Credit, and has $19 billion in cumulative capital commitments.
Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance Group, True Global Ventures and Cité Gestion SPV.
Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life Sciences, aims to invest in companies that are developing breakthrough drug therapies and medical technologies for neurodegenerative diseases. These diseases are some of the biggest healthcare challenges in the world, with 54 million patients affected globally.
Venture Capital: Farmers’ Fintech Agreena Raises €46M For Its Soil Carbon Platform
Climate and fintech company Agreena has raised €46 million in its Series B round of funding. Led by Germany’s HV Capital, the round also included new investors such as AENU and Anthemis, as well as existing shareholders such as Gullspång Re:food, Kinnevik, and Denmark’s Export and Investment fund.
Venture Capital: Fusion Energy Startup Type One Energy Nabs $29M
Type One Energy has successfully closed an over-subscribed $29 million funding round to commercialize its stellarator fusion technology through the FusionDirect program. The program aims to develop practical fusion power plants using stellarators, which are more stable and require less electric current to create magnetic fields compared to tokamaks.
Venture Capital: Europe’s Isar Aerospace Lands $165M Series C Round
German satellite launch service provider Isar Aerospace has raised $165m in a series C funding round. The round is the largest financing round in the SpaceTech sector so far this year and is backed by investors including Bayern Kapital, Earlybird Venture Capital, HV Capital, Lakestar, Porsche SE, UVC Partners and Vsquared Ventures. According to the company’s CFO, the round was concluded “at an increased valuation compared to our Series B in July 2021.”
Venture Capital: OpenView Lands $570M For Its VIIth Fund
OpenView has closed its seventh fund, totaling $570 million, a 25% increase over the firm’s sixth fund and its largest to date. The venture capital firm will continue to invest in high-growth software startups, globally across all business software categories, with a focus on expansion stage companies.
Venture Capital: Character.AI, The Firm That Creates A Personalized AI Companion For You, Nabs $150M
Character.AI, a Silicon Valley chatbot startup, has raised $150 million in a new funding round led by Andreessen Horowitz, valuing the company at $1 billion.
FinTech: South-Asian Lender Kredivo Closes $270M Oversubscribed Round
Kredivo, a company that provides buy now, pay later and credit services to individuals with limited access to banking in Indonesia and Vietnam, has successfully raised $270 million in a Series D funding round.
Artificial Intelligence: Mozilla Launches Startup To Promote Trustable AI
Mozilla, the non-profit organization behind the popular Firefox web browser, is investing $30 million to create a startup and community called Mozilla.ai, focused on building a trustworthy, independent, and open-source AI ecosystem.
Venture Capital: Artera Announces $90M Funding For Its AI-Driven Prostate Test
Artera, a developer of AI-based predictive and prognostic cancer tests, has launched publicly with $90 million in funding from a group of tech and healthcare investors. The investment will support the distribution of Artera’s flagship test, the ArteraAI Prostate Test, which is the first test to predict therapy benefit in localized prostate cancer.
Venture Capital: JMI Closes Oversubscribed Fund XI At $2.4B
JMI Equity has closed JMI Equity Fund XI and JMI XI Executive Fund with total commitments of $2.4 billion. The oversubscribed fund received strong support from new and existing investors, bringing JMI’s total capital commitments to more than $8bn since its founding in 1992.
FinTech: E-Commerce Focused, Corporate Credit Card Issuer Parker Raises $157M
Parker, a charge card built specifically for e-commerce, has raised $157 million in total funding to support the growth of online brands. The card offers differentiated features such as limits based on business performance, rolling terms, emphasis on credit duration over rewards, and software tools to help business operators invest in their best projects.