Tag: venture capital
NEA, venture capital’s quiet giant, closes on $3.6 billion
With its new fund, NEA will continue its strategy of investing across stages in technology and healthcare deals, with a focus, the firm says, on early stage deals and some growth investments. “We are deeply grateful to our limited partners for their commitment to NEA and their confidence in our…
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Libra rival Celo launches 50-member Alliance For Prosperity
Some Libra Association members like Andreessen Horowitz and Coinbase are double-dipping, backing a competing cryptocurrency developer platform. Launching today with over 50 partners, non-profit The Celo Foundation’s ‘Alliance For Prosperity’ offers a way for developers to build decentralized mobile apps that are based on Celo’s blockchain platform and USD stablecoin.…
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Unpacking Sequoia’s $21M conflict of interest
Yesterday, TechCrunch broke the news that Sequoia, one of the best-known venture capital firms in the market today, had “parted ways with [Finix] over a purported conflict of interest and, almost more shockingly, handed back its board seat, its information rights, its shares and its full investment.” Sequoia led the…
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The dollars and cents of raising VC during the coronavirus pandemic
The novel coronavirus is raging across the planet. Millions are quarantined, the stock market is violently gyrating and one of the preeminent VC firms in the Valley is back to saying RIP Good Times. The daily stream of news is terrifying, and we are going to learn even more in…
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Sequoia is giving away $21 million to a payments startup it funded as it walks away from deal
In the world of venture capital, where trust between investors and founders is paramount to the success of both, investing in a company that competes with another startup in a firm’s portfolio is a no-no. Still, in a case that takes this understanding to a brow-raising extreme, Sequoia Capital has,…
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U.S. response to the COVID-19 coronavirus moves from “containment” to “mitigation”
In interviews across major television networks on Sunday, U.S. officials all-but-admitted that efforts to contain the spread of the novel coronavirus, COVID-19, have failed and that the country now needs to move to mitigate the effects of the continuing spread of the disease on the nation’s health and economy. “We…
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