Share to Twitter Share to Linkedin A failed bid to build a textile marketplace at the height of the dotcom boom taught Felix Capital’s Frederic Court an important lesson about the power of habits. “Consumers can change their lifestyles fast, but in a work environment it takes much longer,” says Court, who has now landed a spot on the Midas List Europe with his investments in consumer-focused brands like Moonbug, Mejuri and Farfetch. The London-based investor which styles itself as the venture fund for the “creative class” has now raised a new $600 million round, doubling its assets under management to $1.2 billion. Court, Felix Capital’s founder and managing partner, says the fund will stick with its “concentrated” focus on making up to 25 investments in European and American startups that tap into changing consumer behavior. “We started very early at Felix to talk about the emergence of a more digital lifestyle and that’s a trend that has only … [Read more...] about Moonbug And Goop Investor Felix Capital Raises $600 Million
Venture capital unit economics
By ZEKE MILLER and GEIR MOULSON ELMAU, Germany (AP) — Leaders of the world’s biggest developed economies said Tuesday they would explore far-reaching steps to cap Russia’s income from oil sales that are financing its invasion of Ukraine and struck a united stance to support Kyiv for “as long as it takes” as the war grinds on. The final statement from the Group of Seven summit in Germany underlined their intent to impose “severe and immediate economic costs” on Russia. It left out key details on how fossil fuel price caps would work in practice, setting up more discussion in the weeks ahead to “explore … the feasibility” of measures to bar imports of Russian oil above a certain level. That would hit a key Russian source of income and, in theory, help relieve the energy price spikes and inflation afflicting the global economy as a result of the war. “We remain steadfast in our commitment to our unprecedented coordination on sanctions for as long as necessary, acting in … [Read more...] about G-7 leaders united behind Ukraine, aim at Kremlin oil money
The resignation of Glossier CEO Emily Weiss inspired another wave of obituaries for young, female founders. Nevertheless, they persist—and refuse to be put on glass pedestals again. I n October 2021, Rent the Runway cofounder Jennifer Hyman took her 12-year-old subscription fashion company public at a $1.7 billion valuation, valuing her 5.1% stake at nearly $49 million. The 41-year-old CEO was one of only about 25 American women in history to go public with a company she had founded. But Rent the Runway’s IPO was even more unusual for not only having a female founder but also a female CFO and a female COO. Hyman celebrated the moment on a flowery Nasdaq podium surrounded by the key women on her team, her two daughters and a shower of pink confetti. But for all the femininity on stage, there is one word that Hyman would not use to mark the moment: “Girlboss.” “We've created a false narrative because we looked at two or three examples of women who were building businesses … [Read more...] about Why Female Entrepreneurs Welcome The End Of The Girlboss Era—Once And For All
If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession
Share to Twitter Share to Linkedin A s the class of 2022 loads their twin XL sheets and overpriced textbooks into their parents’ SUVs, they’re met not just with the existential questions of fresh grads ( What am I doing with my life? How do I excel at my job? ) but also with questions that have been dominating the news cycle: Do I even want to be in an office? What happens if my company starts laying people off? Will I find better professional prospects if I land a job now or in a few months? One Under 30-founded startup wants to help alleviate this sense of dread: Gen-Z recruiting company RippleMatch . The startup announced this week that it had raised a new $45 million Series B round from investors such as Goldman Sachs (whose analysts are not known for their workplace satisfaction ) to be the new LinkedIn for young professionals. Read about RippleMatch here . Speaking of young talent, the Forbes newsroom just gained some of its own: a … [Read more...] about The Class Of 2022 Enters A Shaky Workforce. This Under 30 Startup Wants To Help.
Share to Twitter Share to Linkedin It’s been two weeks since I returned from our 2022 Forbes Under 30 Summit EMEA in Israel and it’s still hard for me to answer everyone’s first question: What was the best part? Sure, tasting my way through “The Shuk” marketplace in Jerusalem was an experience unlike any other, as was ringing the bell at the opening ceremony of the Tel Aviv Stock Exchange alongside a group of brilliant and talented Under 30 alums. But I think the part that sticks with me the most was my time at Jerusalem’s Margalit Startup City , one of Startup Nation’s signature innovation hubs. Situated under vibrant cherry trees, I got to watch members of the Forbes Under 30 community mentor 11 early-stage Middle Eastern startups —many of who have made it their mission to solve the Israeli-Palestinian conflict. Take Andy Hirsh, whose animation studio Olive Branch Pictures is addressing the conflict with a children’s film about two young women … [Read more...] about Inside The Forbes Under 30 EMEA Summit: Tackling Conflicts And Forging Coexistence In Israel
Share to Twitter Share to Linkedin I t’s hard enough for women to raise venture capital; of the more than $300 billion deployed to startups last year, women received just $6 billion, or 2%. And women of color get an even smaller piece of the pie; last year, according to Crunchbase , Black women received 0.35% of all startup venture funding. Mindright founder Ashley Edwards, 31, knows this reality all too well. But she’s also managing to beat the odds: Today she’s announcing a $1.8 million seed round for her company, which provides mental health services to underserved teens via SMS text messaging. Investors like Melinda French Gates and Lifeforce Capital were attracted to the company in part due to its team of specially trained coaches who check in with youth daily to help them manage the challenges of both crises and everyday stressors. The SMS structure of the service, which helps eliminate technical and financial barriers to traditional mental … [Read more...] about Is This 31-Year-Old The First Black Woman In New Jersey To Raise More Than $1 Million?
Share to Twitter Share to Linkedin Fintech and digital assets infrastructure provider Prime Trust has raised $107 million in Series B Funding. FIS, one of the world’s largest payments processors, fintech-focused asset manager Fin Capital, Kraken Ventures and Prime Trust’s Series A lead investor, Mercato Partners, were among the leading investors in the round, the Las Vegas, Nevada-based firm announced today (Prime Trust declined to disclose valuation). Despite the latest crypto crash, which saw the value of bitcoin and other digital assets plunge to their lowest level in 18 months, the round was oversubscribed, according to Prime Trust CEO Tom Pageler. “This strategic investment will provide critical operational expertise to further scale Prime Trust into new offerings,” says Pageler, “including wealth products, as well as Web3 and DeFi products.” Specifically, the company will focus on scaling its latest offering, Prime Trust Crypto IRA, which … [Read more...] about Prime Trust Raises $107 Million Series B Round To Expand Crypto Product Suite
Share to Twitter Share to Linkedin NFL star Patrick Mahomes and Nascar driver Bubba Wallace have joined the growing list of athletes investing in a third fund led by venture capital firm Andreessen Horowitz. The firm, known as a16z, launched its third Cultural Leadership Fund, or CLF, which has the goal of growing Black wealth through ownership of future technology companies. The fund also attracted NBA player Blake Griffin, WNBA stars Nneka Ogwumike and Maya Moore, and NFL running back Leonard Fournette, as well as music producer Pharrell Williams and pop star The Weeknd. CLF’s investment portfolio includes equity stakes in blockchain company Dapper Labs, video game developer Roblox and publishing platform Substack. A16z said the fund has raised over $60 million since 2018. In a statement sent to Forbes , Wallace called CLF “important work” as its purpose is to enhance “access and equity for Black communities in tech.” Diversity in the tech … [Read more...] about Patrick Mahomes, Bubba Wallace Join A16z Cultural Leadership Fund Aiming To Grow Black Wealth
Share to Twitter Share to Linkedin Cryptocurrencies are famous for their wild price swings, and in their short history, they’ve gone through multiple cycles of scorching-hot summers followed by frigid, long winters. The last downturn began in early 2018 and lasted about two and a half years. Over the past three months, with inflation spiking and recession concerns spreading, bitcoin has dropped from a high of $48,000 to roughly $21,000 . Today, some top investors think we’re in for another painful, extended period of low prices. “The next two years are going to be really rough,” says Avichal Garg, a managing partner at Electrical Capital, a crypto investment fund with more than $1 billion in assets. His fundamental views on the industry’s promise haven’t changed. “New software developers are coming in , and we're seeing more and more high-quality founders. We see Web2 executives from Facebook and Google coming in at a faster clip,” he says. But one … [Read more...] about The Crypto Bear Market Could Last Two Years, Top Investors Say