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.
Top Story
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.
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
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.
Venture Capital: Indonesian Smart Aquaculture Startup eFishery Nets $200M
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: Clair Scores $175 Million In Funding To Launch The First Free On-Demand Pay Solution
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.
Venture Capital: PharmEasy May Become India’s First Unicorn To Raise A Down Round
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.
Venture Capital: Japanese Robotics Startup Telexistence Nabs $170M
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.
Venture Capital: UK-Based Mercuri Lands $63.5M For Backing AI-Powered Media Technology Startups
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.
Venture Capital: Humane Reveals More About Its AI-Enabled Consumer Device
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.
Venture Capital: Material Evolution Nabs $19M For Technology To Decarbonize Cement
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…
Venture Capital: European Lab-Grown Seafood Startup BLUU Raises $17.5M
BLUU Seafood, a leading European food biotech, has closed its Series A funding round, raising EUR 16 million (US$ 17.5 million). The German start-up plans to use the capital to advance its technology and launch its first products. Cultivated fish, grown directly from fish cells, provides real animal protein without animal slaughter.
Digital Assets: Web3 Gaming Creator Mythical Games Lands $37M Series C1
Mythical Games, a next-generation gaming studio, has raised $37 million in its Series C1 funding round led by Scytale Digital, with participation from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, and existing investors Andreessen Horowitz, Gaingels, Signum Growth, Struck Capital, and WestCap.
Venture Capital: Andreessen Horowitz Floats New ‘Perennial’ Venture Capital Fund
Andreessen Horowitz, a renowned venture firm that has invested early in major tech companies like Airbnb (NASDAQ: ABNB) and Coinbase (NASDAQ: COIN), has launched a new fund called a16z Perennial Venture Capital Fund. The firm aims to sustain its growth despite the slowdown in traditional venture capital funding. The evergreen fund will operate from Andreessen Horowitz’s Menlo Park office and has been registered with the U.S. Securities and Exchange Commission.
Venture Capital: Seedstars and Fondation Botnar Set Up $20M Fund For Young African Founders
Seedstars Capital and Fondation Botnar have partnered to launch the Seedstars Youth Wellbeing Ventures mandate. They plan to invest $20 million in early-stage companies that aim to improve the wellbeing of young people in low- and middle-income countries in Africa.
Venture Capital: Indian Eyewear Startup Lenskart Nabs $100M From ChrysCapital
Lenskart, the Indian eyewear brand, has secured $100 million in funding from private equity firm ChrysCapital through primary and secondary share sales. This investment follows a series of capital infusions totaling nearly $850 million in the past year, further supporting Lenskart’s growth plans and solidifying its position as a global leader in the eyewear industry.
Venture Capital: France-Based Gigafactory Startup Verkor Is Preparing To Reveal A Fundraising Campaign Worth €2B (US$2.18B)
French gigafactory startup Verkor is on the verge of closing a significant fundraise, aiming for an €800 million Series C round of equity and over €1.2 billion in debt. The new funding would position Verkor as one of the best-capitalized gigafactory startups in Europe, second only to Swedish battery maker Northvolt.
Venture Capital: French AI Startup Mistral Scores Europe’s Largest-Ever Seed Round
Mistral AI, a French start-up founded by former researchers from Meta (NASDAQ: META) and Google (NASDAQ: GOOGL), has raised a record-breaking €105 million (US$113.7 million) in Europe’s largest-ever seed round. The funding round was led by Lightspeed Venture Partners, with participation from notable investors such as Eric Schmidt, Xavier Niel, and Bpifrance.
Venture Capital: Salesforce Ventures Adds $250M To Its Generative AI Fund
Salesforce Ventures is increasing its Generative AI Fund from $250 million to $500 million in order to support the AI startup ecosystem and promote responsible generative AI development. The fund has also expanded its network of AI innovators by adding Humane and Tribble.
Venture Capital: Higher Steaks, Now Rebranding As Uncommon, Raises $30M For Its Cultivated Meats
Uncommon, previously known as Higher Steaks, has announced that it has secured $30 million in Series A funding. The funding round was led by Balderton Capital and Lowercarbon Capital. OpenAI CEO Sam Altman is also an investor in Uncommon.
Venture Capital: Cohere AI Gets Investment From Top Tech Names
Toronto-based AI company Cohere has raised $270 million in a funding round led by Inovia Capital and featuring investors such as Nvidia (NASDAQ: NVDA), Oracle (NYSE: ORCL), Salesforce Ventures, and SentinelOne (NYSE: S). The funds will support Cohere’s language models used in chatbots, search engines, and other AI applications.
Digital Assets: Bitcoin Denominated, AI-Powered Life Insurance Provider Meanwhile Raises $19M
Meanwhile, a digital asset-denominated life insurance provider, has secured approximately $19 million in funding from investors including Sam Altman, the CEO of OpenAI, and Gradient Ventures, backed by Google (NASDAQ: GOOGL).
Venture Capital: Digibee Raises $60M In Round Led By Goldman Sachs Asset Management
Digibee, a company specializing in integration platform as a service (iPaaS), has announced that it has secured $60 million in Series B funding. The lead investor in this funding round is the Growth Equity business within Goldman Sachs Asset Management, with participation from other notable investors including Leadwind, Vivo Ventures, Kinea, and G2D.
Venture Capital: Eduardo Saverin’s B Capital Looking To Raise $500M For Third Ascent Fund
Eduardo Saverin’s B Capital Group is currently engaged in discussions to raise $500 million for a fresh venture fund targeting early-stage startups. According to anonymous sources familiar with the matter, the fund will be the company’s third Ascent Fund and will concentrate on investments in seed and Series A rounds.
Venture Capital: Storied Venture Capital Firm Sequoia To Split Up In Three Units
In response to the increasingly complex geopolitical landscape and escalating tensions between Beijing and Washington, venture-capital giant Sequoia plans to separate its China and other Asia operations from its U.S. business.
Venture Capital: Aster’s New Fund Acquires Portfolio Sold By Totalenergies Ventures
Aster, a venture capital firm based in Paris, has completed its first private equity secondary market transaction. The company acquired a portfolio of minority stakes in about twenty companies from TotalEnergies Ventures, the CVC arm of TotalEnergies. This acquisition strengthens Aster’s position in the Climate Tech innovation financing market and demonstrates its international experience and expertise in technologies contributing to carbon neutrality.
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and products for the beauty industry. This investment makes L’Oréal the exclusive beauty industry investor in Debut and aims to support the company in scaling its manufacturing platform to meet the growing demand for breakthrough ingredients in cosmetics, skincare, and packaging.