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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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Venture Capital: Generative AI Startup Anthropic May Nab $300M Funding

January 31, 2023

Anthropic, a San Francisco-based AI start-up specializing in generative AI, is close to securing $300 million in funding, according to sources. The deal could value the company at $5 billion, said the New York Times.

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Artificial Intelligence: Gecko Robotics Scoops up $ 40 Million in Series B Funding

December 17, 2019

Gecko Robotics Scoops up $ 40 Million in Series B Funding. Gecko will use the money to develop industrial inspection robots.
Investors that plugged into Gecko Robotics’ $ 40 million series B funding included marquee names such as Peter Thiel’s Founders Fund, Y Combinator, and Next47. Also opening up their wallets were Mark Cuban, SoftBank senior managing partner Deep Nishar, and Gusto CEO Josh Reeves. Drive Capital led the raise.

Top-Flight Investors Back VC Firm Emphasising Diversity

December 11, 2019

A slew of high-profile investors backed Ada Ventures with $34 million. Ada Ventures will use the money to venture-finance UK-based tech entrepreneurs from under-represented groups.
Ada Ventures’ backers included TransferWise co-founder Taavet Hinrikus and later stage investment firm Atomico. Also investing were British Business Bank (the cornerstone investor), US-based Blue Sky Capital, Dubai-based Rasmala, and Silicon Valley law firm Wilson Sonsini.

Venture Capital: Proteus Digital Health the Latest Startup Struggling to Raise Cash

December 11, 2019

Proteus Digital Health is reportedly seeking a financial lifeline after it failed to extend a $100 million financing round.

VC Giant Sequoia Capital Raises $3.4 Billion for U.S. and China Investments

December 10, 2019

Venture capital giant Sequoia Capital has raised $3.4 billion for two new investment funds. The first fund will invest in late-stage companies in the United States. The second will invest in Chinese growth and venture investments, according to Form 4 filings with the SEC.  

Sequoia’s $3.4B Fund Raise: US-China Politics Take a Back Seat to Opportunity

December 4, 2019

Sequoia Capital has raised about $1 billion for late-stage U.S. investments and approximately $2.4 billion for venture and growth deals in China.
Sequoia Capital has usually taken the path less travelled when it comes to China. And been handsomely rewarded in the process.

Troubles in Start-Up Land? Postmates Shuts Mexico City Office; Lays Off Workers

December 4, 2019

Postmates’ actions in Mexico City do not sit well with its $ 225 million fund raise in September. Postmates Shuts Mexico City Office; Lays Off Workers
According to a report in the New York Times, Postmates is shutting down its Mexico operations to focus on the US market.

Embroker Releases 2019 State of Venture Capital Report for U.S. Startups

December 2, 2019

Embroker, a provider of insurance to venture-backed startups, has published “A Look Into VC Funding in 2019.” Its new report analyzes the venture capital (VC) middle market and successful startups under $1 billion. 

Venture Capital Firm MiddleGame Raises $165 Million for Funding Fintechs

November 27, 2019

MiddleGame Ventures, which focuses on financial services innovation at early-stage fintech startups, closed its $165 million Fund I MGV fund. The fund will invest in startups transforming financial services from “analog to digital, and from centralized to decentralized.” It willl back B2B and B2B2C fintech startups.

Activist Investors Pressure Palantir on Human Rights

November 25, 2019

Palantir Technologies, a tech analytics company, faces new pressure from a group of activist investors. The Investor Alliance for Human Rights has raised concerns about the firm’s contracts with government agencies like the U.S. Immigration and Customers Enforcement (ICE). It also accused the company of aiding the Trump administration.

Airbnb Lost $100 Million the Second Quarter

November 25, 2019

Airbnb is losing money ahead of its public offering. During the second quarter of 2018, Airbnb earned a $10 million profit. A year later, it lost $100 million before interest and taxes for Q2 2019.

ZecOps Raises $10.2 Million Seed To Exploit Cyber-Attackers’ Mistakes

November 22, 2019

ZecOps received $10.2 million in seed funding from CEAS Investments, Evolution Equity Partners, KPN Ventures, Plug and Play Ventures, Stormbreaker Venture Group, and some angel investors.

Prosus is Hunry for Venure Capital Returns in Food Space

November 21, 2019

Prosus Ventures, the VC arm of Prosus NV, will continue to make investments in the food delivery space. A new report from Reuters suggests that the company is ready to double down on firms like Just Eat.

Pensa Systems Raises $10 Million Seed Funding For AI-powered Inventory Drones

November 21, 2019

Pensa Systems raised another $10 million in a seed funding round that brought its total raised tally to $17.2 million.
Pensa’s autonomous drones, powered with computer vision and artificial intelligence (AI), may revolutionize the mundane chore of retail inventory taking.

Spotify’s First Backer Northzone Closes $500 Million Venture Capital Fund

November 19, 2019

Northzone, the Swedish venture capital firm that backed Spotify out of the gate, announced its largest fund to date.

Chinese Investors Pump In $120 Million Into Nigerian Fintech OPay

November 19, 2019

Chinese Investors Pump In $120 Million Into Nigerian Fintech OPay. Nigerian fintech OPay is an arm of Opera, which is based in Norway and majority-owned by Chinese. Opera founded OPay in 2018, leveraging its success as a browser of choice on the African continent. OPay’s Series B round of $120 million was subscribed by investors that included Meituan-Dianping, GaoRong, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital, Sequoia China, and GSR Ventures.
OPay previously raised $50 million in June.

Wework Layoffs

WeWork Layoffs to Total 4,000 to 6,000 Over Five Years

November 18, 2019

WeWork layoffs are coming, and the number could range between 4,000 and 6,000 employees. The WeWork layoffs are set to start this week. According to International Business Times, the company will make an announcement on Tuesday. The New York Times says that the firm will lay off about one-third of its workforce by June 2020.

Lazard to Launch Venture and Growth Banking Unit in London

November 15, 2019

The firm hires two key executives to lead European initiatives Lazard has hired two Numis executives to launch a new group in Europe. The team will focus on European private companies looking for venture capital and growth equity. The firm hired Garri Jones and Nick James to head a new division called Lazard Venture and…

Guild Education Hits $1 Billion Valuation

November 15, 2019

Guild Education is the latest company to join the exclusive unicorn club this year. The firm announced it has closed its Series D round, pulling in $157 million in the process.

Northgate Capital Announces New $120 Million VC Fund

November 15, 2019

Northgate Capital announced it has closed Northgate Venture Partners VIII (NVP VIII) fund at $120 million. NVP VIII invests primarily in marquee venture capital firms and a select number of emerging managers. Brent Jones and Tommy Vardell founded Northgate Capital in 2000. The firm and its global affiliates jointly manage $4.9 billion in assets.

HCM Capital to Launch Second, Larger Venture Fund

November 5, 2019

HCM Capital is reportedly exploring a new fund to invest in early tech startups. HCM Capital receives funding and support from Foxconn Technology Group. A report in Reuters notes that the group is looking to invest in Silicon Valley and other tech hubs around the globe.

US VC Funding and Fintech Deals Dip In Q3

October 17, 2019

US venture capital and fintech funding both declined in Q3 of 2019 compared to the previous quarter.
According to a CB Insights MoneyTree report US VC capital funding declined 15% while Fintech funding declined by 27%.

Saudi Arabian Venture Shop Aims for a Second $500 Million Fund

October 16, 2019

A Saudi Arabian venture capital firm is looking to raise money for a second $500 million fund. STV, which backed Careem Networks, is exploring options for its second fund.  

Is WeWork running out of money? Yes.

Is a WeWork Bailout on Tap?

October 16, 2019

A WeWork bailout could be coming from JPMorgan or Softbank. Two weeks after the office-sharing giant pulled its IPO, its cash position has deteriorated. CNBC reports that the two banks are examining a plan to offer debt and equity to WeWork.

Baker McKenzie: Prepare for a Downturn in M&A

October 15, 2019

The Chicago-based law firm issues its key projections for 2020 Baker McKenzie released its latest report, Global Transactions Forecast 2020: Powering Through the Downturn. The report addresses topics around M&A trends, IPO growth, and global GDP in 2020. This report examines M&A markets around the world and lays out the firm’s projections for 2020. Baker…