CircleUp, which operates an investment platform to invest in consumer brands, is seeking to raise $100 million, according to a regulatory filing. CircleUp Growth Partners has yet to make a sale. San Francisco-based CircleUp is backed by Union Square Ventures, Canaan Partners, Collaborative Fund, QED Investors, Maveron, GV and others.
After last Wednesday’s NVCA Leadership Gala, I want to ask the more than 300 people who attended at the Rosewood Sand Hill whether they went home and downloaded a chess app. That’s because of something that keynote speaker Adm. Eric T. Olson, U.S. Navy (Ret.), said about chess. Olson, who was interviewed on stage in a fireside […]
Data Collective, which invests in big data, AI technology and IT infrastructure, announced it has topped off its previously closed sixth and fifth funds to a new total of $387 million. Its fifth fund makes early-stage investments, while its sixth fund is an opportunity fund designed to make larger follow-on bets in its portfolio companies. The firm, which has offices in Palo Alto, California, and San Francisco, said in a blog post from Managing Partners Zachary Bogue and Matthew Ocko, that it originally raised and closed these funds in less than 90 days at the beginning of 2016.
San Francisco-based Blumberg Capital, an investor in unicorn companies Nutanix and Hootsuite, raised $206.6 million in commitments for its fourth fund, according to a regulatory filing. The fund is 33 percent larger than Fund III, a 2012 vintage year fund that closed on $150 million, according to Thomson Reuters.
Lux Capital, which invests in robotics, drones, driverless cars, 3D technologies, VR, AR and related scientific technologies, announced in a blog post it has raised $400 million for a new venture fund. Fund V is nearly 15 percent larger than the $350 million the firm raised for Fund IV, which closed in 2015, according to Thomson Reuters. As part of the fund close, Lux also announced Renata Quintini has joined the firm as a partner. She previously was a general partner with Felicis Ventures, which she joined in late 2011 and where she invested in Dollar Shave Club, Bonobos and MetroMile, among others. She also blogged on Medium about her decision to join the Lux team, which she says she met eight years ago.
Interest in VC activity in China has ebbed and flowed over the years. And it may be time for more firms to consider their China strategies, as money moving to and from the country is on an uptick. Just ask Edith Yeung, who in January quietly took over as China partner for 500 Startups, succeeding Rui Ma, […]
Boston-based Mylestone, which preserves memories via Amazon’s Alexa and other virtual assistants, announced it has raised $2.5 million in new funding led by True Ventures. Also participating in the round are Founder Collective, Boston Seed Capital, Converge Ventures and Mergelane. Mylestone, which was founded last year by Chief Executive Dave Balter, has now raised $4.5 million in total funding. Balter previously was with BzzAgent (which was acquired by Tesco in 2011) and Smarterer (acquired by Pluralsight in 2014). As part of the latest round, Tony Conrad at True Ventures has joined the board.
San Francisco-based Galore, which makes a mobile app that allows parents to book activities for their children, announced it has raised $1.65 million in seed funding led by Norwest Venture Partners and DCM Ventures. The funding will be used to expand the Galore services in the San Francisco Bay Area and other communities.
Mountain View, California-based LogicHub, which provides threat detection technology, emerged from stealth and announced it has raised an $8.4 million Series A round of funding. Storm Ventures led the round with participation from Nexus Venture Partners.
Santa Clara, California-based Qvivr, a provider of mobile payments technology for consumers, announced it has raised $5 million in Series A funding. Khosla Ventures led the round with participation from what it calls “one of the largest multinational banks based in Asia.” The funding will help Qvivr expand its sales effort as it plans to ship its first product, called SWYP, later this year. The company is also developing a new personal finance product aimed at millennials.
One of the themes we at VCJ are keeping an eye on in 2017 is how venture-firm portfolio companies are doing. Following last year’s robust fundraising, in which U.S.-based firms collected more than $40 billion in commitments, it’s going to come time to fish or cut bait. Will investments go belly up or will they […]
Now that a new administration has moved into the White House, we will soon learn how a Donald Trump presidency affects venture capital. This is a matter I have been formally asking VCs about since Nov. 8. Most dismiss the idea that policies from the new administration will have much of an impact. I argue, […]
Accel announced it has promoted London-based Luciana Lixandru to partner. Previously a principal at the firm, she will continue to focus on investments in consumer Internet, marketplace and software companies. The firm credited her for her role in its investments in online food delivery platform Deliveroo, online auction house Catawiki, and mobile second-hand marketplace Wallapop. She also led the investment in Selency, the online destination for pre-loved furniture and home décor.
Princeton, N.J.-based Edison Partners announced the promotions of Tom Vander Schaaff to general partner and David Nevas to partner. The growth-stage investor said the moves come on the heels of a highly active 2016, in which the firm oversaw 12 investments and eight exits.
Voyager Capital, which focuses on early-stage tech deals in the Pacific Northwest and California, announced that James Newell has joined the firm as a partner. Previously, Newell was with late-stage investor IVP, where he worked with portfolio companies Casper, DoubleVerify, General Assembly, Sauce Labs and Zerto. Before that, Newell was an associate with Maveron, a consumer-focused venture firm with offices in Seattle and San Francisco. He also spent time at the technology investment banking group of Bank of America Merrill Lynch.
Late-stage investor IVP announced it has promoted Tom Loverro to principal. He joined IVP in April 2015 as vice president from RRE Ventures, where he was a principal. Loverro, who focuses on consumer and enterprise companies, serves on the board of NerdWallet and works with IVP’s investments in Giphy, GitHub, OnDeck and Tanium.
Former LP and longtime GP Elise Hebb has joined Seattle-based Maveron as partner and chief operating officer. At Maveron, Hebb will lead the firm’s fundraising, investor relations and marketing efforts. She also will oversee Maveron’s administrative and finance teams. Prior to joining Maveron, Hebb served for 10 years as director of investor relations and business development at Madrona Venture Group, a Seattle venture firm. Prior to that, Hebb was head of private capital investments for the University of Washington endowment.