"Project Phoenix" is seeking to raise at least $10 million in a SAFE financing.
Project Phoenix is being operated by team members of Zawadzki's VC fund AperiamVentures.
Project Phoenix, registered as Phoenix Project Acquisition Inc., is raising the investment with a "post-money valuation cap" of $20 million — the maximum price at which investors can convert their SAFE investment notes into equity.
A person familiar with the matter said it was likely Project Phoenix would need to raise further funds if it wins the auction.
Correction: August 11, 2023 — An earlier version of this story misstated the date of bankruptcy auction.
Persons:
Joe Zawadzki, Jeffrey Hirsch, Zawadzki, Hirsch didn't, MediaMath, MediaMath's
Organizations:
Phoenix, Inc, Google
Locations:
AperiamVentures, Delaware, York