Venture Capital – Tags Area Mon, 10 May 2021 03:23:26 +0000 en-US hourly 1 Venture Capital – Tags Area 32 32 Former OnDeck CEO Noah Breslow Joins Bain Capital Ventures as Operating Partner Mon, 10 May 2021 00:41:26 +0000

Matt harris, a New York-based financial services-focused VC, is pleased to welcome Noah breslow at Bain Capital Ventures as an operational partner.

Harris notes that Noah is “a fintech legend and a gifted mentor to the founders.”

He adds:

I can’t wait to work with him again.

Noah Breslow, former president and CEO of OnDeck, initially said (when offered the job) that he was “more of a technician” and that working at a loan company might not be for him. suit.

As mentioned in a Bain Capital Ventures blog post, this was the first professional conversation the company had with Breslow, who is a “close friend of mine” of Matt Harris.

But before Breslow joined Bain, they hadn’t worked as colleagues. As noted in the Bain Capital blog post, “depending on how this conversation went, I (Matt) was stuck in the friends zone for sure.”

The blog further revealed:

“It was 2007, and the worlds of the ‘end’ and ‘technology’ still seemed miles apart. And Noah was, for sure, a legitimate technician – CS of MIT; interned at Netscape in 1996; design of satellite communication systems; and led marketing and product for a departing software startup. Luckily, Noah concluded that applying sophisticated technology to loans could be as exciting as all of these other endeavors, and he eventually joined OnDeck, where he first led products and technology, then eventually became CEO.

Over the years, OnDeck has pioneered the use of data analytics and digital technology to make reliable, real-time lending decisions and quickly deliver finance to SMEs online. Under Noah’s leadership, OnDeck has provided nearly $ 14 billion in credit to Main Street businesses, “achieved $ 450 million in annual revenue, and provided many of its investors with liquidity in excess of $ 1 billion. dollars – both privately and ultimately as a public company, “the blog noted adding that” at the end of last year Noah sold OnDeck to Enova, and my courting to Noah started again. “

While discussing potential work opportunities, Noah said, “A risky business? Matt, you know I’m more of an operator.

As mentioned in the blog:

“But, of course, special operators like Noah can play a central role in a venture capital firm like BCV, where we strive to find and finance the best entrepreneurs in the world and support them every step of the way. . “

As Matt noted, Noah has been “a far-sighted mentor to many founders over the years, both within fintech and technology in general, and his position as an operating partner at BCV will give him the opportunity to do more of this work. . “

The blog added:

“Our other operational partners, Jeff Williams and Keri Gohman, have shown that this can have a huge impact across the entire venture capital value chain. And, finally, it’s a great perch to see a wide range of the tech landscape and find the next leadership opportunity. So now I’m two for two! Noah is joining BCV this week as an operational partner, and we couldn’t be more thrilled. You can reach him at [email protected] with your next great idea. “

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Bet on upcoming startup markets – TechCrunch Fri, 07 May 2021 22:30:00 +0000

Welcome back to The TechCrunch Exchange, a weekly startup and market newsletter. It is largely based on the daily column that appears on Extra Crunch, but free, and made for your weekend reading. Want it in your inbox every Saturday? Register here.

Ready? Let’s talk about money, startups, and spicy IPO rumors.

Bet on the upcoming startup markets

This week, M25, a venture capital firm focused on investing in the Midwestern United States, announced the creation of a new fund worth $ 31.8 million. As the firm noted in a statement The Exchange reviewed, its new fund is about three times the size of its previous investment vehicle.

I caught up with partner M25 Mike Asem to discuss the round. Asem joined M25 in 2016 after being a partner Victor gutwein led the effort with a small fund of $ 1 million. Asem and Gutwein run the firm from its first material, if technically the second fund.

Asem said his team targeted a fund of $ 25 million to $ 30 million three, which means they were a bit higher than expected in terms of fundraising. This is no surprise in today’s venture capital market, given the pace at which capital is being invested in both venture capital funds and startups.

The investor told the Exchange that M25 has been investing since its third fund for some time, including CASHDROP, a startup that I have heard good things about its growth rate. (More info here about the CASHDROP round in which M25 invested capital.)

All this is good, but what makes the M25 an interesting bet is that the company only invests in startups headquartered in the Midwest. Often when I talk to a fund that has a unique geographic focus, that’s just that, a goal. Unlike the harder and faster rule of M25. Now with more capital and plans to participate in 12 to 15 transactions per year, the group can double its thesis.

According to Asem, M25 has done about a third of its transactions in Chicago, where it is based, but has invested capital in startups in 24 cities so far. TechCrunch covered one such firm, Metafy, earlier this week when it closed more than $ 5 million in new capital.

Why does M25 think the Midwest is the perfect place to deploy capital and generate outsized returns? Asem listed a number of perspectives underpinning his team’s thesis: the economic powerhouse of the Midwest, the network he and his partner developed in the region prior to founding M25, and the fact that assessments can s’ prove to be more attractive in the region at the stage where his firm invests. They are different enough, he said, that his company can generate material returns even with exits around $ 100 million, a lower threshold than most VCs with larger investment vehicles. might find acceptable.

M25 is not the only one to bet on alternative regions. The Bourse also discussed with Somak Chattopadhyay from Armory Square Ventures Friday, a company based in upstate New York that invests in B2B software companies in what we might call post-manufacturing cities. One of its investments has gone public and the group’s last fund is a multiple of the size of its first. The Armory now has around $ 60 million in AUM.

All of this to say that the venture capital boom isn’t just helping companies like a16z raise another billion here, or another billion there. But the generally hot market for startups and private capital is helping even small businesses raise more capital to occupy less traditional spaces. It’s encouraging.

On-demand pricing and insurance play

This week, the exchange spoke with Twilio’s chief financial officer, Khozema Shipchandler, about his company’s earnings report. You can read more about the concrete numbers here. In short, it was a good quarter. But what mattered most to our discussion was Shipchandler who determined where Twilio’s center of gravity will stay. returned terms.

In short, Twilio is best known for creating APIs that allow developers to operate telecommunications services. These developers and their employers pay Twilio as much as they use. But over time, Twilio bought more and more companies, creating a diverse product set after its IPO in the 2016 era.

So we were curious: where does the company fit into the on-demand pricing debate versus SaaS that’s currently raging in the software world? Still in the first camp, despite the purchase of Segment, which is a SaaS service. Per Shipchandler, Twilio’s revenue is still over 70% on demand, and the company wants to ensure that its customers only buy more of its services as they sell more of theirs. .

So startups probably don’t have to give up on-demand pricing as they scale. Twilio is huge and sticks to it!

Then there was the Root revenue report. Again, here are the basic numbers. The Exchange keeps tabs on Root’s post-IPO performance not only because it was a company that we have followed extensively in its late private life, but also because it is an indicator in some way. sort for still private neoinsurane companies. Which matters to his compatriot Hippo, as it is made public via a SPAC.

Alex Timm, CEO of Root, said his business performed well in the first quarter, generating more direct written premiums than expected and better loss rates to boot. The company also remains very cash-rich after the IPO, and Timm is convinced that his company’s data science work has much more room to improve Root’s underwriting models.

So faster-than-expected growth, plenty of cash, an improved economy, and upbeat technology – Root’s stock flies, doesn’t it? No, this is not the case. Instead, Root has taken a bit of a hammer in the public market in recent months. The Stock Exchange asked Timm about the disparity between how he views the performance and future of his business and how it is rated. He said the insurance people don’t always make his technology work, and the tech people don’t always get Root’s insurance business.

It’s hard. But with years and years of money at his current burn rate, Root has more than enough room to prove his critics wrong, provided his modeling holds up over the next twelve quarters. Its stock price cannot be awesome for neoinsurance companies that are still private. Even though Next Insurance was just lifting another stranglehold on cash at another new higher valuation.

Big business spending week

As you read now, is buying the Divvy Unicorn for $ 2.5 billion. I’ve dug into the numbers behind the deal here, if that’s your type of thing.

But after collecting the CEO notes of Divvy Ramp and Brex’s competitors here, another comment came up that I wanted to share. Thejo Kote, the CEO and founder of corporate spending startup Airbase made calculations on Divvy results that shared with its own investors, arguing that the company’s March payout volume and account active customer imply that “the average volume of spending per customer was $ 44,400 per month. . “

Is it good or bad? Kote is unimpressed, stating that “Airbase’s average spend volume per customer is nearly 10 [times] that of Divvy ”, or approximately“ $ 375,000 per month ”. What makes this difference? The focus on bigger customers and the fact that Airbase covers more ground, according to Kote, than Divvy by encompassing the software work that itself and Expensify handle.

I bring all of this to you as the war over expense management for businesses large and small intensifies in terms of software. With Divvy off the table, Ramp is now perhaps the biggest player in the space not to charge for the software he wraps around corporate cards. Brex recently launched software that it charges on a recurring basis. (More information on Brex on this link, if you’re there.)

Miscellaneous and miscellaneous

Two final notes for you, things that should make you laugh, wince or howl:

  1. the Eliot Brown of the Wall Street Journal tweeted some data this week from the Financial Times, that of the roughly 40 PSPCs that made deals last year, a dozen and a half have lost more than half of their value. And that the average drop among the combined entities is 38%. Weft.
  2. And finally, welcome for any pic.

More to come next week, including notes on the return of Kaltura and Procore IPOs, and whatever it is we can pull from the Krispy Kreme S-1 filing, because donuts are life.


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Houston SaaS Startup Closes $ 12 Million Series A Funding Round With Support From Local VC Fri, 07 May 2021 18:56:11 +0000

The death of a loved one comes with grief – and red tape. Houston-based company that streamlines the planning and decision-making process after death is making things even easier with a new smartphone app.

The Postage, a digital platform to aid in business planning, recently launched a mobile app to make the service more accessible after a particularly murderous year. The United States has recorded 3.2 million deaths – the highest number of deaths in its history, largely due to the coronavirus pandemic.

After losing three family members in a row, Emily Cisek faced the difficulty of concluding the life of a loved one. She saw how planning for the afterlife had interrupted her family’s mourning and caused deep frustration. Soon she began to consider a solution to help people have a plan and go through the process of losing someone.

The Postage, which launched in September, provides a platform for people to plan their affairs and leave the wishes of loved ones behind. The website includes document storage and organization, password management, funeral planning and last wishes, as well as the ability to create after-death messages to share posthumously with loved ones.

“Right now, being ahead of this app, end-of-life planning is really tough. It’s that intimidating thing you have to sit down and do in front of your computer, ”says Cisek. Not only is it “intimidating”, it takes time. According to The Postage, families can expect to spend nearly 500 hours completing end-of-life details if no planning is done ahead of time.

With over 74% of The Postage’s web traffic coming from mobile users, an app was a natural progression. In fact, Contractor reports that the average person will spend nine years on their mobile device. Cisek wanted to meet users where they are with a user-friendly application that includes the same functionality as the desktop website.

“What we wanted to do [with the app] is so easy to plan for your life and the end of your life with one click – as easy as posting and commenting on social media, “says Cisek.” People are so used to thinking about these behaviors and clicking a button to add an image … we wanted it to be that easy, ”she continued.

Cisek and his team focused on providing a “seamless experience” within the app, which took around four months to build, reflecting the desktop platform.

Although The Postage’s website has mobile functionality, the app includes the ability to record and download content. Whether it’s taking a photo of their insurance policy or recording a video to share with loved ones, The Postage app allows users to capture photos and videos right in the app.

After taking a photo, “the next step is to share it with your loved ones,” says Cisek. Photos, family recipes, and videos can easily be and securely shared with loved ones who accept your invitation to The Postage so “that legacy continues,” she says.

Since the fall launch of The Postage, the company has developed a steady base of paid subscribers with the intention of growing.

“We are really starting to change the way people plan for the future,” says Cisek.

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Indonesian worker-focused fintech GajiGesa adds strategic investors, launches new app for micro-SMEs – TechCrunch Fri, 07 May 2021 07:01:05 +0000

GajiGesa, a fintech startup that provides Earned Wage Access (EWA) and other services to workers in Indonesia, has added strategic investors to help it launch new services and expand its user base. Its new backers include OCBC NISP Ventura, the venture capital arm of one of Indonesia’s largest banks, and the founders of the take-out coffee chain Kopi Kenangan. GajiGesa has also recently extended its activities beyond the corporate space with a new employee management system for SMEs and micro-SMEs. Called GajiTim, the app is aimed at companies with between five and 100 workers and has gained more than 50,000 active users since its launch in mid-March.

The amount of GajiGesa’s latest funding was not disclosed. The startup, launched last year by husband-and-wife team Vidit Agrawal and Martyna Malinowska, announced a $ 2.5 million funding round led by and Quest Ventures in February. During the last quarter, GajiGesa’s corporate customer base doubled to more than 60 companies, representing tens of thousands of workers.

GajiGesa is part of a new wave of startups focused on digitizing the 60 million small businesses in Indonesia. Others include digital accounting applications like BukuWarung and BukuKas for very small businesses, including neighborhood stores; Moka and Jurnal for large companies; and CrediBook, which focuses on B2B businesses.

Prior to starting GajiGesa, Agrawal’s experience consisted of being Uber’s first employee in Asia, while Malinowska was the former product manager at Standard Chartered’s SC Ventures and the alternative credit scoring platform LenddoEFL. They created GajiGesa to provide workers with an alternative to payday lenders and other high interest lenders by giving them immediate access to their earned wages, instead of waiting for bi-monthly or monthly paychecks. (Other companies offering similar services around the world include London-based Square, Wagestream and Gusto) Based on a recent survey, GajiGesa said more than 75% of workers at companies that use its EWA feature have stopped using informal lenders for short-term needs.

The founders of Kopi Kenangan, the take-out coffee chain backed by investors like Sequoia Capital India, Alpha JWC and Horizons Ventures, have become prolific angel investors in other startups, and their network will help GajiGesa onboard more employers. , Agrawal told TechCrunch. . Its strategic partnership with OCBC NISP Bank, meanwhile, will help it launch more services.

The co-founders of GajiGesa, Vidit Agrawal and Martyna Malinowska

“One thing we realize is that a lot of employees who use the earned salary aspect of GajiGesa expect more types of products, be it a loan product or an insurance product, and that is there an opportunity arises to partner with a bank, ”Agrawal told TechCrunch. About two-thirds of the Indonesian population are “unbanked,” meaning they don’t have a bank account, which also gives OCBC NISP Bank a chance to welcome new customers.

“Having a bank as a partner allows us to structure the right interest rate, the right size of products and create a bigger impact,” said Malinowska.

GajiGesa does not charge an interest rate and does not require collateral, as users are pre-approved by their employers. Instead, companies can choose to charge a fee or offer GajiGesa as part of a benefit package. When a worker withdraws money, GajiGesa asks why they are using the Earned Salary Access feature and present this data to companies in an anonymous and aggregated format.

This allows employers to see what the needs of their work base are and potentially develop new benefits. For example, one of the top three reasons workers use EWA is to pay their medical bills. “This is a strong signal to an employer that if you try to retain employees, especially a blue collar employee, even a basic insurance product could be very appealing to the family,” Agrawal said.

GajiGesa also found that many workers, especially in Tier 2-3 cities, use his EWA to finance family businesses instead of taking loans for working capital.

“Many families in Indonesia often have a member working in a factory for a fixed salary, and they have micro-industries at home, for example making wafers or stickers to sell in their communities or online,” said Agrawal. “They were going to loan loan sharks before or private lenders at very high rates so they could run their business, and now the family member who works in a factory can withdraw capital to support the family business so that they don’t. don’t need to go to loan sharks. “

GajiTim was launched because the startup received a lot of inbound inquiries from SMEs, such as restaurants, small factories, and general stores, which have a lot of part-time workers. These companies often rely on paper systems, including punched time cards, to track work hours and calculate paychecks. But that often leads to conflicts, so having an app that counts working hours and wages in real time gives workers more transparency and helps companies save time. GajiTim also has access to GajiGesa’s flagship EWA service and enables it to bring more customers to the platform.

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The Irish banking landscape is undergoing radical changes Mon, 03 May 2021 05:56:00 +0000

A woman walks through Bank of Ireland ATMs in Dublin city center.

NurPhoto | NurPhoto | Getty Images

DUBLIN – The complexion of the Irish bank has changed dramatically.

In just a few weeks, Ulster Bank, owned by NatWest, announced that it was going out of business as KBC Ireland began talks to sell its loan portfolio and make the exit.

These measures could eventually leave only three banks in the Irish market – the two main players of Bank of Ireland and AIB, and Permanent TSB – sounding the alarm on the state of banking competition in the country.

All the while, fintechs (financial technology) that have successfully secured venture capital funding, like Revolut and N26, have accelerated in the market. Revolut has around 1.3 million users in Ireland, while N26 has around 200,000 users.

Adrienne Gormley, COO of N26 in Germany, which itself is a fully regulated bank, is aware of the drastically changed market.

“Firstly, we see this as an opportunity. While Ulster Bank news has probably been on the cards for quite some time, I think people were surprised by KBC’s announcement,” she said. told CNBC.

This may present opportunities, but it also raises the question: What are the challenges and problems so prevalent in the Irish market that two big banks would wash their hands of it and leave?

“While we are evaluating what is going on and why others are leaving, we should always look at our customers with very clear eyes and focus on the needs of the customers in the market. Obviously we have to look and see well, why the others Is it because they have to hold too much capital? “

The emergence and popularity of digital banking has played an important role in changing this landscape. Earlier this year, the Bank of Ireland announced plans to close 103 branches in the country. CEO Francesca McDonagh said the move to online services was a major driver of the move.

Digital banking and the arrival of fintech competitors have changed the dynamics of the Irish banking market, but serious questions persist about the state of competition and what it means for consumers.

Synchronized banks

Fintech operators, or neo-banks, have taken over from instant payments and have left many incumbents attempting to reclaim market share.

A consortium of Irish banks – AIB, Bank of Ireland, Permanent TSB and KBC for the time being at least – is trying to win back some of that customer base with its own app.

Tentatively titled Synch, the application would allow instant payments between the accounts of each of the banks.

The banks involved have been quiet about the project, but Michael Dowling, a finance professor at Dublin City University, told CNBC the prospect raises warnings about competition.

Dowling said the Synch app looks like a closed store where banks “want to set up a system where they can basically exclude” others from this payment network.

He added that mechanisms like SEPA Instant already exist for banks in Europe to make instant payments.

The banks’ Synch proposal is currently subject to oversight by Ireland’s Competition and Consumer Protection Commission. A first deposit by the banks was rejected by the regulator due to a lack of details. A second deposit was made shortly after.

The Banking & Payments Federation Ireland, an industry group that coordinates synchronization efforts with banks, declined to comment, citing the CCPC process.

The future of competition

Instant payments may be something fintech companies have come to grips with, but question marks continue to hang over the future of long-term loans and mortgages in the country.

N26 turned to lending in other markets, but did not bring these services to Ireland.

“We are a fully licensed bank so it is of course interesting for us to understand what a suite of products could be that could work in this space in the Irish market,” said Gormley.

“Obviously, with the news from Ulster Bank and KBC and the very radical change in the Irish banking industry, we need to think about how and what we would deliver to the Irish market.”

Dowling said the prospects for competition in the Irish banking sector appear bleak with the number of banks declining – however Starling Bank, another newcomer to the fintech scene, has long been promising to enter the market and is continuing its banking license. with the Central Bank of Ireland.

“I don’t think there is a real possibility that another bank will appear,” Dowling said, adding that other European banks are unlikely to be attracted to the market.

He added that regulation is needed to prevent monopoly behavior among the remaining banks.

“This is long term borrowing where we are stuck, there is no competition. There are three banks and that is really it. This is where the regulation has to step in and think creatively. to how we solve this problem, ”he said.

“This is the change we need because there will be no external savior to come. Maybe some of the fintech firms could grow in due course, but what we really need is forced competition.

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[Weekly funding roundup] Venture capital investments are ahead of unicorns Sat, 01 May 2021 12:13:07 +0000

Despite the second wave of the COVID-19 pandemic, the Indian startup ecosystem demonstrated resilience during April 2021 as total venture capital funding reached close to $ 4 billion – among the highest monthly records.

April also saw the emergence of eight new unicorns – companies valued at $ 1 billion or more – and there is always a likelihood that more startups will enter the coveted club.

In fact, the number of unicorns that have emerged for the current year stands at 12, which is already higher than what has been reported for all of 2020.

It also means that besides the emergence of unicorns, a large number of other startups are also receiving the capital, revealing the dynamism of the startup ecosystem.

The COVID-19 pandemic has put unimaginable stress on the Indian startup ecosystem, but it is expected to be able to weather this crisis, just as it did in the first wave.

Urban Company founders (from left to right): Varun Khaitan, Raghav Chandra and Abhiraj Bhal

The last week of April saw total venture capital funding of $ 583 million, which was largely funded by three startups – Urban Company, BYJU’S and Upgrad – up from $ 261 million the week before.

There were only eight trades during the week, with late stage trades accounting for half of the trades and start-up and growth stages receiving two each.

There was no debt deal during the week and the ecosystem has not seen any mergers or acquisitions.

Key offers

Urban Company, the start-up in the home services market, has raised $ 188 million in its latest funding round led by Prosus and transformed into a unicorn with a valuation of $ 2 billion.

BYJU’S raises around $ 150 million of UBS Group AG. this will value major edtech at around $ 16.5 billion.

Edtech start-up upGrad raised $ 120 millionn from Temasek, based in Singapore, making it the company’s first external fundraiser.

Other transactions

Bizongo, a B2B platform for made-to-order products, completed another $ 51 million fundraising year, with investments from CDC and Adventures.

Edtech start-up Main school raised $ 30 million in the Series D funding round led by GSV Ventures with WestBridge Capital.

Starting dental care CareStack raised $ 22.5 million in financing with the participation of SteadView Capital, Delta Dental of California and Accel Partners, among others.

Fintech startup FypMoney raised $ 2 million as part of a round of seed funding from angel investors including Liberatha Kallat, Mukesh Yadav and Dinesh Nagpal.

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Palm Tree Crew injects Star Power into brands – Crunchbase News Fri, 30 Apr 2021 12:30:13 +0000

Strategy Session is a feature of Crunchbase News where we ask venture capitalists five questions about their investment strategies.

Palm Tree Crew Investments is the startup investment arm of multiplatinum DJ Kygo and the company of its director / business partner Myles Shear, Palm Tree Crew Holdings. The company, founded in 2016, invests in consumer, tech and entertainment brands.

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Different from other venture capitalists, Shear decided to make Miami the base of the company rather than Silicon Valley, telling me he grew up in Miami and really never left. It’s now part of a good company, especially as Miami is emerging as a tech hub, with many VCs having moved there over the past year.

Shear told me about breaking the mold about standard venture capitalists, investments, inspirations to start Palm Tree and make Kygo a tycoon.

The following has been edited slightly for clarity and length.

Myles Shear and Kygo, co-founders of Palm Tree Crew Investments

How did the Palm Tree Crew get started?

Mow: It’s something our family and closest friends have supported us from day one. Kygo and I built our careers together and wanted to build something bigger – like an empire – and wanted to find a name for what we were doing. I finally decided to partner with Kygo to manage artists and invest in the future. We came up with the name of Palm Tree Crew while we were in Ibiza. We began to offer palm necklaces to those around us as a symbol of community. Much like Kygo’s music, Palm Tree Crew is a lifestyle and we are building an amazing community.

What types of businesses do you like to invest in?

Mow: As we evolve in our careers, our strategy of investing in new brands and technologies also evolves. In 2019, we decided to create an investment arm to invest in lifestyle brands. We have a few companies in our portfolio, like Long Drink, Drink Poppi, and BitClout.

How do you like working with the founders?

Mow: We like the fact that this type of work is very practical. When we invest, our strategy is to make weekly calls and talk to the founders about how we can bring in people to help promote the brand, either with Kygo or a strategic investor. It’s intense. We like to reduce the risks associated with investing as much as possible. We trust the founders we love, and when we invest in a business, we really invest in who runs it.

What is your vision for 2021?

Mow: We hope to build an investment strategy in the consumer and consumer technology space, as well as in the blockchain. We are excited about the future we are making at Palm Tree, creating a diverse set of categories and adding value. It is important to us. We have a different view of investing. People can get money from anyone, and maybe they don’t need that much capital, but they need strategic help.

Given that you have a background in music and brands, what does the learning curve look like as an investor?

Mow: I found Kygo when I was 20 and I didn’t know how the music business worked. But you surround yourself with great people and see what they’re doing. We didn’t create this idea, but we saw what Scooter Braun has done with their network. same [Sound Ventures’] Guy Oseary and Ashton Kutcher and Kevin Durant. We saw their role models, and I also think Kygo’s music is classy and cool – it touches so many demographics – that we thought it was appealing to CEOs and startups as much as it resonated with the world. . There was no reason we couldn’t make Kygo a tycoon. We started by distributing palm necklaces to friends to turn them into a management company and then an investment vehicle. We have a platform to think outside the box.

Photo of Myles Shear and Kygo, co-founders of Palm Tree Crew Investments, courtesy of the company.
Illustration: Dom Guzman

Stay up to date with recent fundraising rounds, acquisitions and more with the Crunchbase Daily.

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AP Ventures signs another promising hydrogen deal Fri, 30 Apr 2021 06:29:43 +0000

JOHANNESBURG ( – Venture fund firm AP Ventures has closed another promising deal in the fast-growing hydrogen sector, Weekly mining can today pay off.

The fund, which has the Public Investment Corporation of South Africa and Anglo American Platinum as its two main investors, announced that Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures have become its first Norwegian limited partners in AP Ventures Fund II.

This fund focuses on investments in hydrogen and this latest investment is set up to help establish a functional market and value chain for hydrogen in Norway and globally.

Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures, a Norwegian consortium with Tier 1 investors, are now part of a dedicated hydrogen venture capital fund, for which Norway is a recognized strategic location.

The AP Ventures fund invests in technologies throughout the hydrogen value chain and its participation provides investors with access to innovation and accelerates the development of a new hydrogen economy.

“We see significant strategic value in hosting a Norwegian consortium of sponsors. Nysno Climate Investments, Equinor Ventures and Yara Growth Ventures are investors that we have known for a long time through our portfolio companies and we are very happy to have formalized our relationship with them. Norway has the potential to lead Europe in the transition to a hydrogen-powered economy and we are delighted with the opportunity this partnership will bring to our portfolio ”, Founder and Partner of AP Ventures Kevin eggers declared in a press release to Weekly mining.

Hydrogen is a promising energy vector for reducing emissions from sectors that are difficult to reduce, such as industrial processes and long-haul transport. Bloomberg New Energy Finance estimates that clean hydrogen could account for 24% of global energy demand by 2050, up from 2% in 2020.

Following the commitments of Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures, the total assets under management of AP Ventures amount to $ 344 million. Besides the two key investors, other existing investors include South African platinum group metals producer Implats, Mirai Creation Fund, Mitsubishi Corporation, Pavilion Capital, Plastic Omnium and Sumitomo Corporation.

“We look forward to working with experienced hydrogen investors, bringing in-depth industry insight to a value chain of particular interest to Norway. AP Ventures is mobilizing private capital to create a global hydrogen ecosystem and provide Norwegian companies with access to a larger global market ”. Eivind Egeland Olsen, Chief Investment Officer at Nysnø Climate Investments, said in the statement.


“Our ambition is to develop new business opportunities that enable a green transition in energy-intensive industries, such as fertilizer production and maritime transport. Investing in startups that drive innovation along the clean hydrogen value chain is a key area for us.

“We are delighted to join AP Ventures and to work closely with our partners to make the clean hydrogen revolution a reality,” says Yara Growth Ventures. Erkki Aaltonen declared. Yara Growth Ventures is the venture capital arm of Yara International ASA, which focuses on investing in startups and as a sponsor in venture capital funds.

“Equinor’s ambition is to achieve net zero emissions by 2050 and an important tool for success is to develop profitable value chains for carbon and hydrogen capture and storage. In order to develop such value chains, we have to work with partners. Investing in AP Ventures will allow us to explore and expand our knowledge of hydrogen solutions that can play a role in the energy transition. We look forward to working closely with AP Ventures and other partners to create real impact, ”said Equinor Ventures VP Gareth Burns.

By investing in AP Ventures, Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures contribute to the development of businesses and technologies that build a hydrogen economy with fewer emissions, which helps mitigate climate change.

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Global Venture Capital Investments Market Global Market Revenue Estimation and Forecast | learn more COVID-19 Impact – Clark County Blog Fri, 30 Apr 2021 03:03:25 +0000

This report represents the global venture capital investment market size (value, consumption and production), divides the breakdown (data status 2014-2019 and forecast till 2026), by manufacturers, region, type and application. This study also analyzes the market status, future trends, market drivers, market share, growth rate, opportunities and challenges, sales channels, distributors, risks and barriers to entry, and Porter’s five forces analysis which also includes updates coronavirus day. It also offers an in-depth analysis of the industry’s competitive landscape, restraints, in-depth information on different drivers and global opportunities. The main competitors included in the global venture capital investment market are Benchmark Capital, First Round Capital, Lowercase Capital, Sequoia Capital, Union Square Ventures, Baseline Ventures, Breyer Capital, Founders Fund, Index Ventures, New Enterprise Associates

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The objectives of the Global Venture Capital Investment Market study are:

  • To divide breakdown data by regions, types, manufacturers and applications.
  • Identify significant trends, drivers, influencing factors in the world and regions.
  • Analyze and research the global venture capital investment status and future forecast, involving production, income, consumption, history and forecast.
  • To analyze the potential and advantage of the global market and key regions, opportunity and challenge, restraints and risks.
  • Analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
  • To present the major Venture Capital Investment manufacturers, production, revenue, market share and recent developments.

The report presentation of the Global Venture Capital Investment Market has been extensively estimated and according to expert analysis is expected to lead to an impressive growth of USD xx million in 2020 and is further expected to reach a total growth estimate of xx million USD through forecast to 2026, growing at a xx% CAGR, and you get an accurate CAGR based on the size of the venture capital investment market that actually exists

Scope of the report:

The Global Venture Capital Investments Market 2020 industry research report is a professional and in-depth study on the market size, growth, share, trends, as well as industry analysis. The report begins with an overview of the industry chain structure and describes the upstream. Further, the report presents an overview of the market competition among leading companies and company profiles, furthermore, the market price and characteristics of the channels are covered in the report. Further, the report analyzes market size and forecast across different geographies, types, and end-use segments. In addition, the market size, revenue share of each segment and its sub-segments along with the forecast figures are also covered in this report.

Analysis of venture capital investments: by applications

Small businesses, medium-sized businesses, large businesses

Venture capital investment market: by product

On premise, in the cloud

The regional analysis of the venture capital investment market includes:

  • Asia Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
  • Europe (Turkey, Germany, Russia, United Kingdom, Italy, France, etc.)
  • North America (United States, Mexico and Canada.)
  • South America (Brazil etc.)
  • The Middle East and Africa (GCC countries and Egypt.)
  • and the rest of the world


There are 15 Chapters to display the global venture capital investment market

Chapter 1 :: Definition, Specifications and Classification of Venture Capital Investment, Applications of Venture Capital Investment, Market Segment by Regions;
Chapter 2 :: Manufacturing cost structure, raw materials and suppliers, manufacturing process, industry chain structure;
Chapter 3 :: Technical data and manufacturing plant analysis of venture capital investment, commercial production capacity and date, manufacturing plant distribution, R&D status and production date technological source, analysis of raw material sources
Chapter 4 :: Global Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment);
Chapter 5 and 6 :: Regional Market Analysis which includes United States, China, Europe, Japan, Korea and Taiwan, Venture Capital Investments Segment Market Analysis (by Type);
Chapter 7 and 8 :: Venture Capital Investment Segment Market Analysis (By Application) Major Manufacturers Analysis of Venture Capital Investments;
Chapter 9 :: Market Trend Analysis, Regional Market Trend, Market Trend by Product Type Light Barrier Technology, Venture Capital Investment in Lenticular Lens Technology, Market Trend by Application – Small Businesses, Medium Businesses , large companies;
Chapter 10 :: Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis;
Chapter 11 :: Consumer Analysis of Global Venture Capital Investments;
Chapter 12 :: Venture Capital Investment Research Findings and Conclusion, Appendix, methodology and data source;
Chapter 13, 14 & 15 :: Venture Capital Investment Sales Channel, Distributors, Traders, Dealers Research Findings and Conclusion, Appendix and data source.

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Barbara Dalton of Pfizer Ventures Appointed New Member of AMRA Medical Board of Directors Thu, 29 Apr 2021 14:25:00 +0000

Ms. Dalton is currently a Senior Managing Partner at Pfizer Ventures and Vice President, Global Business Development at Pfizer Inc. Since joining Pfizer in 2007, she has led Pfizer’s efforts to deploy capital to generate both financial returns and strategic opportunities for the company. Under the leadership of Dr Dalton, Pfizer Ventures has invested more than $ 700 million in more than 90 portfolio company investments, making Pfizer Ventures one of the leading corporate venture capital groups in the life sciences industry. Barbara is currently a board member of the following Pfizer Ventures portfolio companies: Artios, Cydan, IMARA, Ixchelsis and Second Genome.

Following his doctorate. of Pennsylvania Medical College (now Drexel University School of Medicine), Dalton’s pharmaceutical career began in immunology at Smith Kline & French Research Laboratories. She joined their venture capital group, SR One, Limited, where she spent ten years developing her venture capital expertise. In 2000, Ms. Dalton also became general partner of private venture capital fund EuclidSR Partners, a position she held until joining Pfizer in 2007.

“We are delighted to expand our board of directors with Barbara, who will bring an impressive level of pharmaceutical expertise and critical insights to our work.” mentionned Eric Converse, CEO of AMRA. “We are a growing company and the opportunities ahead are enormous. Having Barbara on board brings an added level of confidence and calculated thinking which I believe will help guide and accelerate our innovations and business plans. “

About AMRA Medical
AMRA is a digital health company at the forefront of medical imaging and precision medicine. The company has developed a new global standard in body composition assessment, the ability to automatically produce multiple fat and muscle biomarkers with unparalleled precision and precision, as well as contextual disease information – all at from a single rapid MRI of the whole body.


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