Reddit users wonder if the next big meme stock is Reddit itself Reddit invites power users in on its IPO, but other Redditors are also considering an investmentJeremiah Johnson says he has “an embarrassing amount” of Reddit karma.
They’re also wondering if Reddit could be the next meme stock, which could prove lucrative or disastrous.
Though she wasn’t invited to invest early, she plans to buy stock in Reddit once it officially goes public.
“Reddit is really dependent on power users who moderate the site, and because they’ve given those power users actual power, power users did for a day or two literally make the site unusable,” Johnson said.
Max Spero, a startup founder in his twenties, plans to buy Reddit stock post-IPO because he’s a fan of the platform, which he’s been using for 11 years.
The Qatar Investment Authority (QIA) is launching a $1 billion venture capital (VC) fund of funds for international and regional venture capital funds, the sovereign wealth fund announced on Monday.
Similar to typical fund-of-funds structures, QIA’s initiative will invest indirectly through other VC funds but also make targeted co-investments with participating funds.
These funds, aiming to reduce reliance on oil, have increasingly poured money into tech startups in the region, hoping to nurture a thriving venture capital industry.
However, unlike Jada, the PIF’s $1 billion fund of funds and Saudi Venture Capital (SVC), which targets both venture capital and private equity funds, QIA’s fund of funds focuses solely on venture capital funds, marking the first of its kind in the region.
Historically, these wealth funds have backed foreign startups primarily in the U.S. and Asia, with limited ties to the Gulf region.
Investing app Grifin today officially launched its anticipated investing model called “Adaptive Investing,” which enables you to automatically invest in your favorite brands that you frequently shop from.
“Investing, and even having a healthy positive relationship with money, is an incredibly difficult thing to do and achieve,” co-founder Aaron Froug tells TechCrunch.
It also introduces a “Secret Cash” function, allowing for non-public purchases and putting more money away as cash for their future.
“I’ve been personally using our app for a little over two years and I’ve invested in 115 unique companies,” he notes.
Additionally, Grifin is planning a redesign of its app, which will include a premium version as well as an AI chatbot to help people learn how to invest.
Golden Ventures, a Canada-based venture capital firm, closed on over $100 million in capital commitments for its fifth fund targeting high-potential, seed-stage founders working across technologies, including AI, climate, blockchain and quantum.
“This is a continuation of our core thesis and created to be super founder-aligned,” Golden told TechCrunch.
The firm makes both core investments and those that lean more on the angel side.
Over 13 years, Golden Ventures has backed over 100 companies at the seed stage.
Golden Ventures V is backed by a group of existing institutional limited partners, including BDC Capital, ECMC Group, Foundry, HarbourVest Partners, Kensington Capital Partners, Northleaf Capital Partners, RBC, Teralys Capital, University of Chicago and Vintage Investment Partners, and new institutional partner Deloitte Ventures.
Partech closes its second Africa fund at $300M+ to invest from seed to Series CPartech has closed its second Africa fund, Partech Africa II, at €280 million ($300 million+), just one year after reaching its first close.
Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
However, he clarified that the firm will deploy the majority of its second fund between Series A and B rounds.
Among the investments from its second fund is Revio, a South African payment orchestration platform, where Partech Africa co-led the seed round with global fintech fund QED.
Partech Africa intends to back over 20 companies, with initial investments ranging from $1 million to $15 million, it disclosed.
Kost Capital, a new Danish venture capital fund, is out to bring better food to more people.
That’s because Kost Capital shares space with Kost Studio, a food development studio that doubles as a test kitchen for universities and markets to collaborate and develop novel food products.
Kost Capital invests in pre-seed and seed startups across Europe, focusing on B2B inputs in the future of food.
Sidén’s journey to venture capital started in a quite unique place.
Acknowledging a growing population, climate change, food waste, health issues and policy changes, Sidén says more funding is needed into food tech.
Alinea Invest, a fintech app offering AI-powered wealth management aimed at Gen Z women, has $3.4 million in seed funding ahead of the launch of a virtual AI assistant that will help users with their investing needs.
“The pain point we saw is that people like us who are young women, Gen Zs, children of immigrants, they have no idea where to start.
With the seed round of $3.4 million, Alinea wants to move further into the AI market with the launch of an AI financial advisor.
Though competition is rife in the fintech space, Alinea believes they can capture a particular demographic — the younger, Gen Z investor, and largely women.
“Financial literacy and investing is a crucial path to wealth and financial stability for women and Gen Z,” said Kelly Graziadei, F7 General Partner.
We haven’t heard much from the edtech sector ever since the pandemic forced students out of the classrooms and in front of their computers.
But, as Anna Heim writes in the intro of our most recent survey of edtech investors, “we found that with AI in the picture, edtech startups have been as quietly busy as a subterranean network of moles in fall.”Full TechCrunch+ articles are only available to members.
Just tacking AI onto a product isn’t enough, and investors are hoping that the technology will lead to more innovation in the space.
Check out Anna’s story on the future of edtech in emerging markets as well as the opportunities that AI can bring.
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This week, read about Amazon, EV startup Fisker, electric boats, a bunch of new funding deals and my time driving the all-new Kia EV9.
Remember Lordstown Motors, the EV startup that went public via a SPAC and has since filed for bankruptcy protection?
Steve Burns, who founded and was then ousted from Lordstown Motors, is back with a new EV startup called LandX Motors.
Northvolt, the Swedish battery startup, secured a $5 billion debt deal to help pay for the expansion of its first gigafactory.
The Kia EV9 comes in five trims with the cheapest — the rear-wheel drive EV9 Light — starting at $54,900.
AppDirect, a San Francisco- and Montreal-based platform for buying, selling and managing tech through a network of IT advisors, has raised $100 million from CDPQ to expand its financing program for small- and medium-sized tech businesses.
“Our Invest program is purpose-built to empower our technology advisors,” Emanuel Bertolin, AppDirect’s chief revenue officer, said in a statement.
“To keep up with today’s ever-changing market, technology merchants need fast access to capital to accelerate their growth.”AppDirect’s Capital Invest program is a loan program, providing capital for tech businesses in the form of upfront payments.
Today, AppDirect offers a set of tools that let businesses monetize — or buy — tech products across a range of different channels and devices.
We also provide the opportunity for our advisor community to procure technology for their customers directly from the AppDirect catalog.”AppDirect launched the Capital Invest program in 2021.
