Diversity-focused VC fund Harlem Capital debuts with $40M

Harlem Capital has upgraded from angel syndicate to full-fledged venture capital fund, closing its debut effort on an oversubscribed $40.3 million. The firm was launched by managing partners Henri Pierre-Jacques and Jarrid Tingle in New York City’s Harlem neighborhood in 2015. The pair have since graduated from Harvard Business School and hired two venture partners,…

What the partnership at Trinity Ventures sees for the road ahead in 2020

Over the years, Trinity Ventures has racked up many exits for its limited partners. Through deals in consumer brands like Starbucks and Zulily and enterprise companies like TubeMogul and New Relic, the Menlo Park-based fund has found repeated success, but as it retrenches with a pared-down investment team and a much smaller new fund, Trinity’s…

San Diego-based Founders First Capital Partners gets $100 million for revenue-based fund

Founders First Capital Partners, an accelerator and investment firm which provides revenue-based financing to businesses led by “underrepresented entrepreneurs” operating in underserved markets, has received a $100 million commitment to expand its operations. The San Diego-based investor raised the debt financing from Community Investment Management, a large debt-focused impact investment fund. The revenue-based financing model…

What AI startups need to achieve before VCs will invest

David Blumberg Contributor David Blumberg is founder and managing partner of early-stage venture capital firm Blumberg Capital. More posts by this contributor The Ascent Of Early-Stage Venture Capital Funding of artificial intelligence-focused companies reached approximately $9.3 billion in the U.S. in 2018, an amount that will continue to rise as the transformative impact of AI…

Nigeria’s Interswitch confirms $1B valuation after Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion,” Interswitch said in a release to TechCrunch. The Visa investment could create the first of…

New startup Capital wants to reintroduce founders to venture debt

Why raise venture capital when you can raise debt and keep your equity? That’s the question a whole slew of new financial technology companies are hoping entrepreneurs will ask themselves as they begin to think about collecting outside capital for their businesses. Clearbanc made waves with its “20-Minute Term Sheet” campaign, with a goal of…

Morpheus Space’s modular, scalable satellite propulsion could be a game-changer for orbital industry

Building effective propulsion systems for satellites has traditionally been a highly bespoke affair, with expensive, one-off systems tailor-made to big, expensive spacecraft hardware. But increasingly, companies including startups are looking at ways to provide propulsion tech that can scale with the projected boom in demand for orbital satellites, including cube sats and small sats, as…

Venture capital firm Redpoint hires a ‘head of founder experience’

As access to top deals becomes more competitive, venture capital firms are creating new roles to attract top entrepreneurs. Now, in addition to recruiting top dealmakers, firms are bringing in culture experts and allocating roles to individuals who better understand and empathize with the founder journey. In keeping with this trend, Redpoint Ventures, a venture…

Sydney’s AirTree Ventures closes $275M fund as Aussie unicorns gather pace

The Australian scene industry has, in the last few years, started to generate a swathe of startups that have broken through internationally. Prior to this current era, Australia was scene has very much a local market in tech terms, with only occasional breakouts, like Atlassian. In fact, it’s now gaining a reputation as a serial…

Startups Weekly: The unicorn from down under, an Uber TV show and All Raise’s expansion

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy news pertaining to startups and venture capital. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about Revel, a recent graduate of Y Combinator that’s raised a small seed round. Remember, you can…