provided by Published 3:39 pm PDT, Wednesday, April 3, 2019 Okta At its customer conference Oktane, cloud identity manager Okta announced a $50 million fund to invest in the next generation of identity and authentication startups. The fund will focus on early-stage investments in artificial intelligence, machine learning, and blockchain startups. The fund’s first investment is in Trusted Key, a blockchain-based digital identity platform that had previously raised $3 million. Today, cloud identity management provider Okta unveiled Okta Ventures, a $50 million in-house venture fund focusing on early-stage identity and authentication startups that use artificial intelligence, machine learning, and blockchain technology. Announced on-stage at the company’s annual customer conference in San Francisco, Okta Ventures’ first investment is in Trusted Key, a blockchain-based digital identity company that had previously raised $3 million. While Okta isn't … [Read more...] about $10 billion identity startup Okta launches a $50 million venture capital fund to invest in startups using blockchain and AI (OKTA)
Investing in startups
A Singapore-based venture capital firm backed by tech and banking experts has launched its first London office and on Thursday unveiled plans to invest some £24 million in startups here. Antler said a team of 10 employees based in Old Street will look to invest £120,000 each into some 200 small businesses in London over the next four years. The firm was set up Magnus Grimeland, who co-founded Singapore-based fashion online retailer Zalora. Backers include Spotify’s former chief technology officer Andreas Ehn, economist Lawrence Summers who was the former US secretary of treasury for President Clinton, and ex Goldman Sachs director Andrea Hajdu-Howe. Grimeland said: “London is a truly dynamic, entrepreneurial city brimming with fantastic business talent. We think London is, and will continue to be, a global hub for entrepreneurs with ambition and drive . The city is full of opportunity and energy.” The company is also expanding into Amsterdam and … [Read more...] about Venture capital firm Antler makes London debut to invest in startups
State lawmakers and Gov. Tim Walz want to replenish funding for a lapsed program that gave tens of millions in tax breaks to investors who helped start businesses in Minnesota. The state could spend up to $20 million a year on investors who support startups, under a proposal in the Legislature. Walz did not commit to an exact amount, but told members of the TwinWest Chamber of Commerce on Friday that the tax credits will be part of the budget he unveils Feb. 19. The angel investment program previously operated from 2010 through 2017, and the state doled out about $101 million in tax breaks over the years. The 431 business owners who qualified for the credit during that time used it to entice people to invest in their companies, and netted a total of $422 million in investments. Businesses that participated created 1,533 jobs, according to the tax credit program’s most recent annual report. Stillwater-based POPS! Diabetes Care, which helps people with diabetes manage their care … [Read more...] about Tax credits proposed to spur business investments in Minnesota
According to a report recently released by Topica Founder Institute (TFI), a startup accelerator program in Vietnam and Thailand run by Hanoi-headquartered multinational educational technology company Topica, 92 investment deals amounting totalling $889 million were struck in 2018. Domestic funds invested over $500 million, over half of total investments in startups, director of TFI Mai Duy Quang said. "This means that domestic funds are paying more attention [to Vietnamese startups], and that there is an abundance of domestic capital available for startups right now." Of these, the top 10 investments alone totaled $734 million, accounting for 83 percent of the total value of all investments in startups. The three biggest deals were made by Vietnamese multichannel media giant Yeah1 ($100 million), e-commerce company Sendo ($51 million) and tech education company Topica ($50 million). The five most profitable fields for startups were fintech, e-commerce, traveltech, logistics … [Read more...] about Investment in Vietnamese startups triples in 2018
Snoop Dogg is no stranger to business investment. Photo: Paul R. Giunta/Invision/AP Swedish fintech giant Klarna got an unlikely minority owner on Thursday in the form of American rapper Snoop Dogg, who will also front the company's marketing campaign. Forbes reports that the artist, whose real name is Calvin Broadus, will also change his name to Smoooth Dogg when he becomes the new face of Klarna's "smoooth" concept – following in the footsteps of, among others, a video of a long-haired swimming dog which became a viral sensation when it launched. The value of the deal was not disclosed, but the rapper, who has previously invested in startups such as Californian marijuana delivery business Eaze, Reddit and trading app Robinhood, said he planned to continue to invest in a range of businesses in Europe. "I've been doing business in Europe for years with fashion brands, telecommunication companies, and more," he told Forbes. "I've endorsed them, advised them, and now I'm … [Read more...] about Snoop Dogg just invested in Klarna, ya dig?