The deal would allow General Catalyst to tap deeper into India’s vibrant technology scene that has lured over $100 billion in startup investments since 2010.
The deal hasn’t finalized, so things may change, the sources cautioned, requesting anonymity as the deliberation is private.
The U.S. firm held conversations with many senior individuals in India last year looking to find an India-based partner, many people familiar with the matter said.
Its new focus on India follows the firm expanding in Europe last year by agreeing to merge with La Famiglia, an investor in several high-profile early-stage startups including AI firm Mistral.
Investing in India has proven uniquely challenging to many global venture firms that have entered the country or have explored such possibility, a partner at a India-based venture firm said.
Last week, my colleague Aria Alamalhodaei wrote an exclusive on defense and space tech venture firm Countdown Capital’s plan to shut down.
But Countdown shutting down is likely more of an isolated event than a sign of what’s to come for micro funds this year.
That’s changed today, and it isn’t surprising given the sheer amount of capital it takes to get defense startups off the ground; the costs are incomparable to a category like SaaS.
This is also why Countdown’s fate doesn’t portend cloudy skies for micro funds in other categories.
So despite the category heating up, a $500,000 check can still net a firm meaningful ownership at the pre-seed stage, they said.
We know your time is precious, so beginning next week, we’re going to make it a lot easier for you to read our best stuff.
For starters, we’re adding a morning newsletter, with the startup and venture and broader tech news we think you want to be tracking more closely.
The newsletter – TechCrunch AM – is being authored by TC veteran Alex Wilhelm, who many of you already know and about whom we think pretty highly.
It’s the ultimate insider newsletter if you work in VC, want to work in VC, work with VCs, or want or do work for a VC-backed company.
Think TechCrunch Space, TechCrunch Crypto, TechCrunch Mobility and TechCrunch Fintech.
Hyperexponential, a London-based insurance technology (insurtech) startup that serves the property-casualty (P&C) insurance industry with “decision intelligence” for pricing, has raised $73 million in a Series B equity round of funding.
Boston-based venture capital (VC) firm Battery Ventures led the round, with participation from existing investor Highland Europe and Andreessen Horowitz (A16z).
Moreover, that Hyperexponential is bringing in high-profile U.S. VC firms points to an international roadmap, with the company confirming plans to expand beyond its current operations in the U.K. and Poland to the lucrative U.S. market.
“We’ve focused on building a capital-efficient, independent business that was both high-growth and sustainable from the outset,” said Hyperexponential co-founder and CEO Amrit Santhirasenan, in a statement.
The company also said that it plans expand into adjacent markets, including SME insurance.
Down under, only 3% of venture capital funding went to all-women-founded teams, and 10% went to teams with at least one woman founder.
In 2021 and 2020, 21% and 25%, respectively, of VC funding in Australia went to startups with at least one woman founder.
A report commissioned by consulting firm the Creative Co-Operative found that in 2021, despite a record increase in VC funding in Australia — about $10 billion — just 0.03% went to Bla(c)k women and women of color founders.
The VC aims to raise another $100 million for its Fund 2 in the spring of 2024.
Beyond just giving women money, Warren and F5 want to create generational change for a billion women across India, Southeast Asia and Australia.
For a VC firm, the second fund is a make-or-break moment.
First, after raising €225 million for its initial fund ($245 million at today’s exchange rate), Singular managed to raise €400 million for the second fund.
Second, all the investors who participated in the first fund are back as limited partners in the second fund — this is a good signal.
This wasn’t an obvious outcome for the VC firm, as it’s been a wild ride over the past two or three years in venture capital.
Building a big European VC fundUnlike many VC firms based in Paris, Singular has been investing in European startups from day one.
South Korean internet giant Kakao — in the middle of multiple investigations over antitrust and securities violations — has appointed a new CEO as it tries to turn the ship around.
Shina Chung, who had been running the company’s venture arm, is moving to the top role at the company.
Separately, just last month, South Korean President Yoon Suk Yeol called for a review of the monopolistic practices of Kakao’s taxi-hailing unit, Kakao Mobility.
Korea’s antitrust regulator had already fined Kakao Mobility about $20.3 million for unfair service in February.
Kakao Mobility, which has about 74% of the ride-hailing market in the country as of September, separately is trying to lower the temperature around this controvery.
More and more startups are leveraging CRM systems to streamline their investor relations.
So, how do you set up a CRM system for tracking and following up with investors?
Choose a CRM systemNot all CRM systems are created equal.
Some popular CRM systems for startups include Salesforce, HubSpot, and Zoho CRM.
Create your “stages”Once you have your CRM system in place, the first step is to segment your investors.
