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: Chinese EV Maker Geely Nabs $750M Series ‘A’ For Its Zeekr Brand
On February 13th, 2023, Zhejiang Geely Holding Group (Geely Holding), the largest private-owned automotive group in China, announced a successful fundraising of USD 750 million for its premium pure play electric mobility brand, ZEEKR Intelligent Technology (Zeekr), based in Hangzhou, China.
Venture Capital/Real Estate: Dreamscape Lands $850M For Gaming And Entertainment Platforms, Revamp Of Rio
Dreamscape Companies, a real estate development and investment firm founded by Eric Birnbaum, has completed an $850 million capital raise. Wells Fargo (NYSE: WFC) and Raymond James led the debt syndicate and equity private placement, respectively.
Digital Assets: Abu Dhabi Creates $2B Warchest For Web3, Blockchain, And Metaverse Startups
Abu Dhabi is committing over $2 billion to a new program, “Hub71+ Digital Assets,” aimed at financing startups in the Web3, blockchain, and metaverse application fields. This ecosystem will be located at Hub71 in Abu Dhabi Global Market (ADGM).
Venture Capital/AI: MDI Health Nabs $20M Series A For Its Medication Management Platform
MDI Health has raised $20 million in Series A funding led by Intel Capital to further develop their AI-powered platform that automates personalized medication treatment at scale. Maverick Ventures Israel and existing investors Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures, and former SVP of Optum Richard Montwill also participated. The round brings MDI Health’s cumulative financing to $26 million.
FinTech: Aspire, The All-In-One Finance OS, Snags $100M
Aspire, a Singpaore-based financial services provider founded in 2018, has closed an oversubscribed Series C round at $100 million. The round included investments from Lightspeed, Sequoia Capital SEA, Paypal Ventures, LGT Capital Partners, Picus Capital, and Mass Mutual Ventures. (Aspire)
Venture Capital: AI+Quantum Computing Focused Startup SandboxAQ Lands $500M
Sandbox AQ, a company that develops software for post-quantum cryptography, quantum sensing, and quantum simulations, raised $500 million in a funding round. Breyer Capital, T. Rowe Price funds, and TIME Ventures, as well as former CEO of Google and current Sandbox AQ Chairman Eric Schmidt, all participated in the round.
Venture Capital/FinTech: Indian Payments Giant PhonePe Lands $100M
PhonePe, one of India’s largest fintech platforms, has raised an additional $100 million in funding from investors Ribbit Capital, Tiger Global, and TVS Capital Funds (TCF), bringing the total amount raised in six weeks to $450 million.
Venture Capital: TransitTech Startup Via Nabs $110M Funding
Via, a TransitTech leader, has closed a $110 million financing round led by 83North and other investors, valuing the company at $3.5 billion. The company previously raised a $130 million Series G in November 2021 at a $3.3 billion valuation, according to Bloomberg. Cumulatively, it has raised about $900 million.
Venture Capital: Two New Venture Funds Focus On Africa And Climate Investing
Partech closed on €245 million (~$263 million), while Planet A raised €160M (~$171 million).
Venture Capital: Generative AI Startup Anthropic May Nab $300M Funding
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.
Venture Capital: Steel Decarbonizing Company Boston Metal Raises $120M
Boston Metal, a decarbonization tech firm for steel production, announced the close of its $120M Series C funding led by ArcelorMittal. Microsoft’s Climate Innovation Fund and SiteGround Capital also joined as new investors, along with existing ones.
Venture Capital: Digital Health Insurer Angle Nabs $58M Series A
Angle Health, a digital-first health insurance provider, announced $58 million in Series A funding led by Portage. The funding round also included participation from PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher, and support from existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator.
Venture Capital: French Startup Renaissance Fusion Lands €15M ($16.3M) Seed Round
French nuclear fusion startup Renaissance Fusion has raised €15 million ($16.4 million) in a seed round led by US climate tech venture capital firm Lowercarbon Capital. European investors including HCVC, Positron Ventures and Norrsken also participated in the round.
Venture Capital: VC Giant NEA Raises $6.2B For Two Funds Focused On Tech And Healthcare
New Enterprise Associates (NEA), a 45-year-old venture capital firm, announced that it has closed on $6.2 billion across two funds, bringing its assets under management to over $25 billion as of December 31, 2022.
Digital Assets: Bitcoin Infrastructure Company Blockstream Raises $125M
Blockstream, a leading Bitcoin infrastructure firm, has raised $125 million in convertible note and secured loan financing to expand its institutional bitcoin mining services. Kingsway Capital led the convertible note, with other investors including Fulgur Ventures.
Artificial Intelligence: Atomic AI Closes $35M Series ‘A’ For RNA Drug Discovery
Atomic AI, a biotechnology company, has developed a proprietary, AI-driven ‘Platform for AI-driven RNA Structure Exploration’ (PARSE). PARSE is a 3D RNA structure discovery engine that can vastly improve RNA structure prediction and develop a new generation of RNA-targeting medicines to tackle diseases that were previously untreatable. The company came out of stealth with a $35 million Series A round led by Playground Global, with participation from 8VC, Factory HQ, Greylock, NotBoring, AME Cloud Ventures, and renowned angel investors including GitHub ex-CEO Nat Friedman, Doug Mohr, Curai CEO Neal Khosla, and UC Berkeley professor and Arc Institute Co-founder Patrick Hsu.
Venture Capital: After Accounting Lapses At GoMechanic, Sequoia India May Implement Special Audits
Sequoia Capital’s regional arm in South and Southeast Asia is considering special audits for several investments in the region following allegations of financial irregularities at companies such as Zilingo Pte and GoMechanic. This was reported by Bloomberg, which quoted unnamed, confidential sources.
Venture Capital: Decarbonized Cement Startup Sublime Systems Nabs $40M
Sublime Systems, a developer of technology for decarbonized cement production, announced the closure of a $40 million Series A funding round led by Lowercarbon Capital and featuring participation from existing investors like The Engine and Energy Impact Partners. Siam Cement Group, the largest cement producer in Southeast Asia, is also joining as a strategic investor.
Venture Capital: Space Debris Remover ClearSpace Lands €26.7m Series A
Switzerland-based startup ClearSpace is working on technology for space debris removal and has recently raised €26.7m in a Series A round to accelerate the launch of the world’s first-ever space mission to remove a moving, non-cooperative object from orbit.
Venture Capital: Sequoia Capital Launches $195M Seed Venture Fund
Sequoia Capital, the storied venture capital firm, has announced a new $195 million seed fund and plans to run three batches of its accelerator program, Arc, in 2023, up from two in the previous year. Despite fewer companies starting up, Sequoia believes that now is a good time to invest in seed stage companies, as they are more insulated from the effects of the public market, which is passing through a period of tumult.
Venture Capital: CalPERS Will Fund $1B To Promote Diversity In Alternative Fund Managers’ Investments
The California Public Employees’ Retirement System (CalPERS), a pension fund with assets worth $457 billion, has announced that it is committing $1 billion to support diverse and underrepresented private market investors through asset managers TPG and GCM Grosvenor.
Venture Capital: Impel, A Digital Platform For Car Buyers, Nabs $104M
Impel, a New York-based digital engagement startup, has secured $104 million in a growth investment led by Silversmith Capital Partners and additional investment from Wavecrest Growth Partners.
Venture Capital: Monogram Health Lands $375M Funding Round For Specialized At-Home Renal Care
Monogram Health, a company that provides in-home care and benefit management services for patients living with chronic conditions, has closed a $375 million funding round.
Venture Capital: Oxbotica, Maker Of Software For Universal Autonomy, Lands $140M
The round brings Oxbotica’s cumulative funding till date to approximately US$225 million.