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.
Industry Ventures has successfully raised over $1.7 billion in two new funds aimed at assisting venture capital investors in achieving liquidity. The first fund, Industry Ventures Secondary X, has attracted over $1.45 billion in new commitments. The second, Industry Ventures Tech Buyout II, secured over $260 million in new capital commitments.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on Venture Capital
Amazon Web Services (AWS) and Accel have announced ML Elevate 2023, a six-week accelerator program to empower Indian startups building generative AI applications. Selected startups will receive access to impactful AI models, technical and business mentorship, resources, and up to USD 200,000 in AWS Credits.
Walmart (NYSE: WMT) has purchased Tiger Global Management’s remaining 4% stake in Indian e-commerce giant Flipkart for $1.4 billion, increasing its ownership to about 77%. The transaction valued Flipkart at $35 billion, down from the previous valuation of nearly $38 billion.
Lvrch Capital Advisory, a prominent investment firm, has achieved a major milestone by successfully raising $400 million in a Series D funding round, further cementing its position as an innovation leader in the financial industry. Building on its prior success of securing $200 million in the Series C funding round, the firm is now focused on adapting its investment approach to meet evolving market conditions and ensure long-term financial stability for investors while delivering exceptional results.
DIF Capital Partners, through its DIF Infrastructure VII fund, is investing £200 million in Field, a London-based battery energy storage systems developer and operator. The investment seeks to expedite Field’s expansion and construction of a 4.5 GWh pipeline of large-scale battery energy storage projects in the UK and Western Europe, thereby bolstering the area’s renewable energy infrastructure and supporting its Net Zero objectives.
Brevel, a microalgae-based alternative protein company, has secured $18.5 million in seed funding to develop a neutral-tasting, sustainable, and affordable protein for the mainstream food industry. The company’s technology combines sugar-based fermentation of microalgae with high light concentrations at an industrial scale, resulting in a protein that can be used in various plant-based products.
Dioxycle, a French-U.S. climate tech start-up, has secured $17 million in funding to support the development of sustainable ethylene produced from recycled carbon emissions. The investment comes as investors increasingly seek opportunities to support environmentally-friendly solutions in high-emitting industries, which are crucial for achieving global climate goals but have historically received less funding.
Atlanta-based startup OneTrust raised $150 million in a funding round led by new investor Generation Investment Management, co-founded by former Vice President Al Gore, with participation from existing investor Sands Capital. The round valued the privacy and security company at $4.5 billion, a 12% drop from its previous valuation of $5.1 billion after raising a Series C in late 2020 and an extension in 2021.
FLORA Ventures has launched an $80 million fund to invest in sustainable agrifood tech start-ups in Israel and Europe. It is the largest Israeli-based agrifood venture capital firm and the biggest new VC fund in Israel for 2023. The fund focuses on early-stage start-ups that aim to create a healthier, more sustainable, and resilient agrifood system and supports their global scaling efforts.
South Korean online fashion platform, MUSINSA, and global investment firm, KKR, have signed definitive agreements for a Series C fundraise of US$190 million for MUSINSA. This investment is KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (NGT) strategy. Wellington Management, one of the world’s largest independent investment management firms, also participated in the round.
Coca-Cola Bottling Co. United, based in Birmingham, is part of a $137.7 million venture capital fund focused on sustainability investments. The fund, called the Greycroft Coca-Cola System Sustainability Fund, will be managed by Greycroft, a venture capital firm. Coca-Cola Bottling Co. United is contributing $15 million to the fund.
Venture Capital: Wa’ed Ventures, The Venture Capital Arm Of Aramco, Invests In Tenderd, An AI-Powered Emissions Monitor
Tenderd is a UAE-based startup backed by Peter Thiel. Wa’ed Ventures, the venture capital arm of Aramco (TADAWUL: 2222), has made a strategic investment in Tenderd, an AI-forward startup specializing in decarbonizing construction and logistics operations. Tenderd is backed by top-drawer investors, including Y Combinator, Peter Thiel, BECO Capital and Dynamo Ventures. Tenderd’s platform utilizes…
Venture Capital: LGT Capital Partners Wraps Up Oversubscribed $930M Round For Its Crown Growth Opportunities IV Fund
LGT Capital Partners successfully concluded the final round of funding for Crown Growth Opportunities IV, their fourth global venture capital fund. Surpassing its initial goal of USD 750 million, CGR IV garnered over USD 930 million in subscriptions. The fund attracts investors such as pension funds, endowments, foundations, insurance companies, and family offices worldwide.
Hugging Face, an AI model startup, is currently reviewing term sheets for a Series D funding round. The round is expected to raise a minimum of $200 million and value the company at $4 billion, according to Forbes.
Silo Technologies, a leading provider of technology solutions for the food supply chain, has announced $132 million in new capital. The $32 million Series C funding round was led by Koch Disruptive Technologies, a subsidiary of Koch Industries known for investing in disruptive technologies. Existing investors Andreessen Horowitz, Haystack Capital, Tribe Capital, Collate Capital, and Moore Capital also participated in the round.
Bedrock, a seafloor data acquisition and distribution platform, has raised $25.5 million in a Series A funding round. The company aims to revolutionize seafloor exploration and accelerate offshore wind energy development. The funds will be used to bring its unique data offering to the offshore wind market and expand their unmanned autonomous underwater vehicle (AUV) acquisition system.
Paris-based fintech startup finres has secured €4.1 million (US$4.5 million) in funding to enhance agricultural investments. The funds will support the launch of their investor platform, R&D activities, and expansion across Africa, the Americas, Asia, and Europe.
Venture Capital: Investors Including CBA Pour $220M Into Australian Climate Investment Firm Wollemi Capital
Wollemi Capital, a climate specialist investment firm, has successfully raised $220 million in one of Australia’s largest Series A capital rounds of 2023. The Commonwealth Bank of Australia (ASX: CBA) provided an equity investment to support the fundraising.
Indonesian startup eFishery has secured $200 million in a Series D funding round, propelling its valuation to over $1 billion and earning it unicorn status. Led by 42XFund, the funding round included participation from investors such as Kumpulan Wang Persaraan, responsAbility, and 500 Global.
Fintech company Clair has secured $175 million in funding to launch a free, on-demand pay solution backed by an FDIC-insured bank. The program, called Pathward, allows front-line workers to take wage advances and provides access to Clair Spending and Savings Accounts.
Indian online pharmacy startup PharmEasy is seeking new funding of about $300 million, but at a significant valuation cut of 90%, according to anonymous sources cited by TechCrunch. If successful, this funding round would result in PharmEasy’s valuation dropping to half of the capital it has raised so far.
Telexistence, a robotics company based in Tokyo, has successfully raised USD 170 million in a Series B funding round. The funding came from both existing investors, such as Monoful Venture Partners, KDDI Open Innovation Fund, and Airbus Ventures, as well as new investors including SoftBank Group Corp., Foxconn Co-GP Fund, and Globis Capital Partners.
London-based media technology investor Mercuri, formerly known as GMG Ventures, has raised £50 million (approximately US$63.47 million) in a second fund from institutional investors. The British Business Bank, through its Enterprise Capital Funds (ECF) program, has made a significant investment as a cornerstone investor.
Humane, Inc. has announced the name of its first device, the Humane Ai Pin, which is set to be launched later this year. The Humane Ai Pin is a standalone device that incorporates AI technology to offer unique personal computing experiences. This wearable device, which can be attached to clothing, utilizes various sensors to facilitate contextual and ambient interactions.
Material Evolution: Cement is responsible for some 8% of global CO2 emissions. Material Evolution, an advanced materials company based in the UK, has raised €17.3 million (US$19 million) in Series A funding for its smart, low-carbon cement made from industrial waste streams. The funding will support the scaling of production for their breakthrough cement, which…