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The official channel of V3V Ventures. We share updates on our investments, portfolio companies, and fund activities. Buy Ads: @JamesCookTg (this is our only account).
⚡️SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce
⚫️SeekOut, an eight-year-old recruiting startup that uses AI to find candidates, cut about 30% of its workforce this past Thursday, TechCrunch has learned.
⭐️“Lately, we have been spending roughly $2 to earn $1, and this last fiscal year, we incurred significant cash burn,” SeekOut’s CEO Anoop Gupta and CTO Aravind Bala wrote in a letter to employees. “Unfortunately, to put us on a sustainable trajectory, we must make significant employee reductions.”
🔣This is the second time the Seattle-based startup has had layoffs. SeekOut laid off 16 employees in October, or about 7% of its workforce at that time, GeekWire reported. After its October staff cuts, the company had around 200 employees, according to the report.
🙂OpenseedVC, which backs operators in Africa and Europe starting their companies, reaches first close of $10M fund
Founder-market fit is one of the most crucial factors in a startup’s success, and operators (someone involved in the day-to-day operations of a startup) turned founders have an almost unfair advantage in finding that fit. #️⃣
💫The same principle applies somewhat to operator VCs (firms typically launched by former startup founders). While there’s no definitive proof that operator VCs make better investors, recent research does indicate that founders and operators who become VCs are significantly more successful at backing companies than traditional investor VCs.
📈How does the speed of response to emails affect the success of fundraising?
⭐️Adam Shuaib, Managing Partner at Episode1 (E1) fund, wanted to explore the relationship between the speed of founders' email responses and their subsequent success in fundraising rounds. Specifically, he looked at how quickly founders raising seed rounds responded to emails.
💫To investigate this, Adam analyzed data from the fund's CRM on startups that had at least three email exchanges with the fund between 2012 and 2020. Correspondence after 2020 was excluded to ensure every startup had an equal time window for fundraising. The analysis included 1,500 companies.
⭐️Sigma is building a suite of collaborative data analytics tools
📟In 2014, Jason Frantz and Rob Woollen co-founded Sigma Computing, a platform that overlays data stored in data platforms such as Snowflake and Google BigQuery with a spreadsheet-like interface for data visualization and analytics.
💻Out of the gate (in 2014), Sigma only offered a set of basic business intelligence and analytics tools to connect to a customer’s outside databases.
💻Sigma Computing CEO, Mike Palmer believes the key to Sigma’s success in the face of stiff competition like Tableau and Microsoft’s Power BI has been a continued focus on creating data analytics tools with a low barrier to entry.
⭐️Top Venture Capital Firms pt.9
🔵Intel Capital
Intel Capital is fueling the future of compute by investing in cloud, AI, 5G cybersecurity, enterprise applications and more.Intel Capital is fueling the future of compute by investing in cloud, AI, 5G cybersecurity, enterprise applications and more.
Details of the VC firm:
🚀Country: USA
🚀Founders: Les Vadasz, Peter Levin
🚀Industries: Cloud, AR & VR, Gaming, Hardware, Manufacturing
🚀Funds raised: $12,500,000,000
🚀3 remarkable investments: Razer, Animoca Brands, Docusign
👕Source
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👕Sustainable Start-Ups Gaining Momentum
💻Venture capital investors are increasingly setting their sights on sustainable and climate tech start-ups. One VC sustainability investor in particular set forth a plan to reduce 10% of global carbon emissions by 2035 by investing in 100×100 companies.
🎥These are sustainability start-ups designed to mitigate 100 megatons of emissions in ten years while generating $100 million in revenue.
💬Daily set of news
💲From Miles Grimshaw to Eva Ho, venture capitalists continue to play musical chairs
💲GV’s youngest partner has launched her own firm
💲A reckoning is coming for emerging venture funds, and that, VCs say, is a good thing
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⭐️Top Venture Capital Firms pt.6
🔵New Enterprise Associates
➡️New Enterprise Associates partners with ambitious entrepreneurs worldwide across multiple stages and sectors.
Details of the VC firm:
🔥Country: USA
🔥Founders: Chuck Newhall, Frank A. Bonsal, Jr., Richard Kramlich
🔥Industries: Enterprise, Consumer, Life Sciences, AI & ML, Education, Fintech
🔥Funds raised: $21,300,000,000
👕Source
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💬Daily set of news
💲Triomics raises $15M Series A to automate cancer clinical trials matching
💲Fika Ventures co-founder Eva Ho will step back from the firm after its current fund is deployed
💲Fairgen ‘boosts’ survey results using synthetic data and AI-generated responses
💲NBA champion Kyle Kuzma looks to bring his team mentality to Scrum Ventures
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⭐️Top Venture Capital Firms pt.5
🔵MassChallenge
➡️MassChallenge is a startup accelerator providing early-stage capital and mentorship to startups across North America and Europe.
Details of the VC firm:
➡️Country: USA, Israel, Mexico, Switzerland, South Korea, Australia, China, Colombia, France, Poland, Ireland, Taiwan, Thailand, United Kingdom, Spain, Russia, Morocco
➡️Founders: John Harthorne, Akhil Nigam
➡️Industries: Fintech, Healthcare, Cybersecurity, Climate &
➡️Funds raised: $8,600,000,000
➡️3 remarkable investments: Frenalytics, Neurava, SheFly
👕Source
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⭐️Trends to keep an eye on in 2024 pt.4
Portfolio diversification
💫With increasing globalization and digitization of investing, geography has become less of a concern for venture capitalists.
💻Within the tech industry there has been a recent decentralization of capital away from Silicon Valley-based companies and increased capital in other cities all over the world.
⭐️Trends to keep an eye on in 2024 pt.2
Sustainable investing
🎥Sustainable investing, also known as theme investing, has become increasingly popular over the past few years. Due to the recent trend of socio-political awareness in a time of global difficulty, many individuals have been directed towards investing in companies that will positively impact global relations, environmental concerns, and, most notably, public health topics.
💡As investors realize that these outcomes are not as unrelated as they may seem at first, sustainable investing keeps gaining momentum.
⭐️Top Venture Capital Firms pt.3
🔵500 Startups
➡️500 Global is a globally renowned venture capital firm investing in early-stage tech companies.
Details of the VC firm:
🔵Country: USA, India, United Kingdom, Brazil, France, Hong Kong, Singapore, United Arab Emirates etc.
🔵Founders: Christine Tsai, Dave Mcclure
🔵Industries: SaaS, Media, E-Commerce, Consumer, Healthcare, Proptech & Real Estate, Hardware & Industrials, Education, Devops, Fintech, Crypto & Blockchain
🔵Funds raised: $67,000,000,000
🔵3 remarkable investments: Canva, Solana, Reddit
👕Source
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⭐️Top Venture Capital Firms pt.1
🔵Y Combinator
➡️Y Combinator is a leading accelerator and venture capital providing mentorship and funding to companies across all sectors.
Details of the VC firm:
⬇️Country: USA
⬇️Industries: Enterprise, SaaS, Big Data & Analytics, Productivity, DTC, Cybersecurity, Supply Chain & Logistics, Education, Consumer, Food & Beverage, Gaming, Future of Work, Technology, Manufacturing, Infrastructure, Legal, Marketing, Agriculture, Automative, Energy etc.
⬇️Stages: Seed, Early Stage, Pre-Seed, Series A
⬇️3 remarkable investments: Coinbase, Twitch, Reddit
👕Source
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⭐️Top Venture Capital Firms pt.2
🔵Techstars
➡️Techstars is a global accelerator and early-stage investor since 2006.
Details of the VC firm:
🎥Country: Israel, USA, India, China
🎥Industries: Advertising, Aerospace & Space, Agriculture, AI & ML, Biotech, Crypto & Blockchain, Climate & Sustainability, Cybersecurity, SaaS, Big Data & Analytics, Developer Tools, E-Commerce, Education, Energy, Enterprise, Entertainment, Fintech, Sports, Food & Beverage, Future of Work etc.
🎥Stages: Pre-Seed, Seed
🎥Number of investments: 4116
🎥Funds raised: $108,000,000
🎥3 remarkable investments: Rootine, Packworks, Payymnt
👕Source
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💡Dealroom issued a study on the startup and VC market in Central and Eastern Europe for 2023 and Q1-2024
#VentureNews
💫Highlights:💫
📟The total valuation of all startups in the region has increased 2.4 times over the past 5 years from $89 billion in 2019 to $213 billion in 2023.
📟+-1000 startups in 110+ cities in the region raised €2.1 billion in 2023. There are 26 thousand startups in the region, but only 7 thousand raised venture capital money.
📟AB Q1-2024, 45% of all venture capital money in the region went to AI and 26% to Climate Tech. These are the hottest industries in the region
📟40% of all venture capital money is concentrated in the Baltic States, Estonia leads by a large margin (€420.3M)
📟The number of exits has increased 4 times over the past 10 years, but most of them are acquisitions.
📟Since the beginning of 2023, investors in the region have raised $ 1.9 billion from LPs. Most new funds in Tallinn (5 pieces)
👕Source
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⭐️Data Driven VC surveyed 276 foundations, which startup databases they use
📟Crunchbase is the leader with the cheapest subscription price on the market. The most expensive Pitchbook is in second place. In third place is Dealroom, which has the highest percentage of coverage in terms of companies.
💫At the same time, most of the information about founders and investors is on Pitchbook. He is also the leader in covering deals.
💡Venture orgs form alliance to standardize data collection
📧Seven venture capital and startup organizations focused on diversity within tech have announced the Diversity Data Alliance, a commitment to standardizing the way that data is collected and shared.
💡This is especially important for marginalized founders, who still receive little to no venture funding.
📧Data transparency remains a pressing issue within venture for people looking to better track where and to whom money is allocated. Many firms already privately compile background information on their founders, but that data can be skewed when publicly shared without insight into how the data was collected.
🙂The Alliance hopes to simplify this process by creating a framework that firms can use to gather information about founders and funders. It hopes to also work toward creating a centralized data pool to better track and understand funding trends in the industry.
🔵Invest Europe has released a fresh report on the state of the European venture capital industry
The main conclusion is that the states were the most important investors in VC funds in 2023. Only the share of state revenues has grown in a year-on-year ratio. 💫
🙂The second and third places after the states are occupied by private investors and family offices. And the share of corporate money in funds fell by 16% compared to the previous year.
⭐️Top Venture Capital Firms pt.8
🔵Sequoia Capital
➡️Sequoia Capital is a renowned global VC firm that invests in startups in the energy, financial, enterprise, healthcare, internet, and mobile industries.
Details of the VC firm:
🔵Country: USA, China, Hong Kong, India, Israel, Singapore
🔵Founders: Aadit Palicha, Bill Coughran, Don Valentine, Santana Henry
🔵Industries: AI & ML, Consumer, Crypto & Blockchain, Enterprise, Fintech, Healthcare, Internet & Mobile
🔵Stages: Early Stage, Seed, Growth
🔵Funds raised: $22,000,000,000
👕Source
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🔥‘Dry Powder’ Surplus
🚀At the end of Q1 2024, dry powder reached a record-high surplus of over $300 billion. This figure—also known as uncommitted capital— reflects the remnants of booming fundraising in 2021 and 2022, and the halt in capital spend since that time, as well as a sign of economic conditions.
💻A search for “dry powder capital” on the AlphaSense platform shows a significant increase in document activity over the last 90 days, as this trend remains top of mind for VC investors.
⭐️Top Venture Capital Firms pt.7
🔵Accel
➡️Accel invests in startups across multiple industries from seed stages to late growth stages.
Details of the VC firm:
🔥Country: USA, United Kingdom, India
🔥Founders: Arthur Patterson, Jim Swartz, Prashanth Prakash
🔥Industries: Cloud, Cybersecurity, Consumer, Media, Fintech
🔥Funds raised: $18,300,000,000
👕Source
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💬Daily set of news
💲David Sacks reveals Glue, the AI company he’s been teasing on his All In podcast
💲Paris-based VC firm Blisce launches climate tech fund with a target of $160M
💲OpenAI Startup Fund raises additional $5M
💲Accel has a fresh $650M to back European early-stage startups
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⭐️Top Venture Capital Firms pt.4
🔵SOSV
➡️SOSV is an international venture capital backing deep tech founders from their pre-seed stage to their growth stage in human and planetary health.
Details of the VC firm:
🔼Country: USA, China, Taiwan, Ireland
🔼Founders: Sean O'Sullivan
🔼Industries: Health & Wellness, Deep Tech & Hard Science, E-Commerce, Consumer, IoT, SaaS, Robotics etc.
🔼Funds raised: $527,000,000
🔼3 remarkable investments: Roadie, Leap Motion, Motiv
👕Source
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⭐️Trends to keep an eye on in 2024 pt.5
Cryptocurrency
🏆With the expected global blockchain market of $39.7 billion by 2025, it is unlikely that cryptocurrency is going anywhere soon.
🔥And although it can be applied to the previously mentioned automation and technology adaptation trend, as cryptocurrency is an offshoot of fintech, its exponentially expanding market size makes it enough of a trend to stand on its own.
⭐️Trends to keep an eye on in 2024 pt.3
Automation and technology adaptation
💻Consumers have always been interested in new technology they could master to improve their lives with. Businesses also keep adopting automation to ensure efficiency and stay competitive.
🚀Consequently, the fintech industry has seen a recent boom of in-market success as many businesses and customers are benefiting from the recent advancements within the industry.
📌For example, financial literacy solutions and online-only banking have been undoubtedly favored during the pandemic as they allowed for remote access, learning, and communication.
👕Source
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⭐️Trends to keep an eye on in 2024 pt.1
Public web data
➡️For some time now, investors have looked at more than just traditional data sources like press releases and financial statements to make their decisions. Part of the strength of public web data lies in its variety.
⬇️From credit cards to social media, from satellite imagery to online job postings – virtually anything can become a source of important information for investors
💬Daily set of news
💲Haun Ventures is riding the bitcoin high
💲From Connie Chan to Ethan Kurzweil, venture capitalists continue to play musical chairs
💲A new venture capital supergroup is forming
💲Chicago-based Hyde Park Venture Partners closes $98M Fund IV with two investments made so far
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💬Daily set of news
💲Despite recent successes, IPO market still won’t fully open until 2025
💲Climate tech investment roars back with an $8.1B start to 2024
💲Inside TC’s Techstars investigation and how AI is accelerating disability tech
💲Walmart heir Lukas Walton’s Builders Vision puts S2G on a path to independence
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💬Daily set of news
💲Human composting and timber marketplaces: talking “industrial” VC with investor Dayna Grayson
💲Deal Dive: Amae Health is building an in-person approach to mental healthcare in an increasingly digital space
💲ICONIQ Growth raises $5.75B seventh flagship fund
💲A comprehensive list of 2024 tech layoffs
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