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Childhood friends Jeremy Brewer and Sam Levac-Levey started their first clean energy startup in 2018. Six years later, they're launching a new venture fund to invest in climate tech companies overlooked by their peers. According to PwC's 2023 study on the state of climate tech, more than 70% of investment went into energy and mobility. Brewer said Starshot is looking to invest in companies that offer "gigaton-scale solutions, that can increase their customers' profitability and revenue." They entered a climate tech accelerator in Canada called Creative Destruction Lab, where they worked for months to perfect their plan.
Persons: Jeremy Brewer, Sam Levac, Levey, Brewer, who's, Starshot, Levac Organizations: Google, Facebook, Tesla, SpaceX, Starshot, CNBC Locations: Montreal, Canada
A new health tech startup called Cercle launched Wednesday and announced major global partners and investors, including Meta 's former COO Sheryl Sandberg. Cercle uses artificial intelligence to try and advance women's health, particularly within fertility care. "That's the founding mission behind Cercle, to personalize and contextualize biomedical and genomics information so women can make better, more informed health decisions," Cercle CEO and co-founder Juan Carlos Riveiro said in a release Wednesday. Cercle's lead investors include Sandberg and her husband Tom Bernthal through their new venture fund, Sandberg Bernthal Venture Partners, Cercle announced. Cercle said it will initially focus on fertility care but plans to expand to other areas within women's health.
Persons: Sheryl Sandberg, Juan Carlos Riveiro, Cercle's, Sandberg, Tom Bernthal Organizations: Meta, Sandberg, Venture Partners Locations: personalize
The New Venture Fund raised over $950 million in 2021, according to the group's records. The listed donation to the New Venture Fund coincided with Thiel helping Republican candidates during the 2022 midterms. Massoglia suggested another scenario: that accountants for the Thiel Foundation may have filled out the forms incorrectly. The New Venture Fund is part of a network of left-leaning nonprofits guided by philanthropic advisory firm Arabella Advisors. Just like the New Venture Fund and the Donors Trust, the Sixteen Thirty Fund does not publicly disclose its donors.
Persons: Peter Thiel, Republican megadonor Peter Thiel, It's, Thiel, Anna Massoglia, OpenSecrets, Massoglia, Mitch McConnell, Brendan Fischer, Thiel Foundation hadn't, George Soros, Arabella Advisors Organizations: PayPal, Palantir Technologies, Founders Fund, Miami Beach Convention Center, Republican, Democratic Party, CNBC, The Thiel Foundation, New Venture Fund, D.C, New Venture, Thiel, Thiel Foundation, The New York Times, Donors Trust, Washington D.C, Google, America, Democratic, America Votes Locations: Miami , Florida, Washington, OpenSecrets, Ky
Insight Partners and TCV are reportedly scaling back the size of huge venture funds they planned. The amount of money VC firms raised themselves hit $170.8 billion in 2022, according to PitchBook data, up from $158.5 billion in 2021. And it's also evident in two gigantic firms that had lofty fundraising goals but are now scaling back: Insight Partners and TCV. The firm has raised about 50% to 75% less for a $5.5 billion fund it planned for last year, The Information reported. Last month, Mayfield Fund announced that it raised $955 million across two new venture funds.
Persons: VCs, , it's, they're, whittle, It's, Insider's Melia Russell, Brian, Lisa Sugar, Turner Novak, Monique Woodward, Navin Chaddha, who's, Chaddha Organizations: Insight Partners, Morning, Insight, Bloomberg, Financial Times, Tiger, Tiger Global, Street, Sugar, Banana, Cake Ventures, Mayfield Fund Locations: Mayfield, Silicon Valley
Startup investors are increasingly warning of an apocalyptic scenario in the VC world — namely, the emergence of "zombie" VC firms that are struggling to raise their next fund. Life becomes harder for zombie firms in a higher interest rate environment, as it increases their borrowing costs. Investors expect this gloomy economic backdrop to create a horde of zombie funds that, no longer producing returns, instead focus on managing their existing portfolios — while preparing to eventually wind down. "There are definitely zombie VC firms out there. "We're going to see a lot more zombie venture capital firms this year," Steve Saraccino, founder of VC firm Activant Capital, told CNBC.
For startup founders and venture capitalists, the office holiday party is a December tradition. For many venture capitalists and the startup founders they invest in, December is synonymous with two things: end-of-year paperwork and office holiday parties. But this year, holiday parties in startup-land look a little different. "Align those goals with your holiday party, and you can do something powerful and cost-effective," she said. "You should maybe cut some travel, maybe you don't have a big holiday party, but that's all drop in the bucket compared to head count," he said.
Nov 30 (Reuters) - John Curtius, a former partner at investment firm Tiger Global, is in talks with institutional investors to raise $1 billion for his new venture fund Cedar Investment Management, a person familiar with the matter told Reuters. The fund will focus on investing in early stage enterprise software companies in the United States and Europe, the source added, requesting anonymity while discussing private matters. If closed, the fund will likely be one of the largest new funds raised by first-time fund managers amid a slowing venture capital market. Curtius joined Tiger from Elliott Management in 2017 and had been running enterprise software investment at the prolific tech investment firm that has $125 billion in asset under management. His portfolio of tech companies includes security software SentinelOne (S.N) and unicorns such as data infrastructure firm Databricks and cybersecurity company Snyk.
Princeton classmates Lynda Clarizio and Joy Marcus are aiming to create a new ecosystem for funding women-led businesses. The $7 million fund is still raising money to help 15 women-led businesses have a chance at success. Clarizio and Marcus hope to fund women-led companies around media, advertising, and content — areas that they both know well. The98 also hopes to create even more proof in the market that women-run businesses can be billion dollar companies, said Marcus. In the first half of 2022 start-ups with female founders raised $20.8 billion of venture funding, according to Pitchbook.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe would not be surprised to see months of deflation soon, says ARK Invest CEO Cathie WoodARK Invest CEO Cathie Wood joins CNBC's 'Squawk Box' to discuss ARK's new venture fund, which is targeted toward individual investors with a minimum investment of $500. Wood breaks down her expectations for interest rates and inflation in the months ahead.
Watch CNBC's full interview with ARK Invest's Cathie Wood
  + stars: | 2022-09-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with ARK Invest's Cathie WoodARK Invest CEO Cathie Wood joins CNBC's 'Squawk Box' to discuss ARK's new venture fund, which is targeted toward individual investors with a minimum investment of $500. Wood lays out her expectations for interest rates and inflation in the months ahead and also discusses why she's bullish on shares of Tesla and Roku.
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