Foresite Capital Secures $900 Million in Sixth Fund for Healthcare and Life Sciences Investing

Despite having 47 IPOs, 28 M&As and 58 FDA-approved drugs under its belt, the 13-year-old multi-stage healthcare and life sciences firm took two years to raise its sixth fund. On Wednesday, Foresite announced that it closed its sixth fund with $900 million. Last summer, Foresite co-led a $115 million Series F into CG Oncology, a drug discovery company that had a successful IPO listing in January. Foresite intends to back about 20 companies from its sixth fund, writing checks from a couple of million up to $75 million. “Over a decade ago, we named the firm Foresite because we thought we had an idea of where healthcare was headed,” Tananbaum said.

Unleashing Diversity: Crunchbase’s Expansion of Tracking to Europe

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Crunchbase is expanding the scope of its tagging options in Europe to start tracking how much venture capital funding goes to minority founders on the continent. Diversity Spotlight is a feature on Crunchbase that lets companies add tags to their profiles to label themselves. Crunchbase is now making this feature available in Europe. Crunchbase initially launched the Diversity Spotlight feature in 2020, and last year expanded it to add an LGBTQ+ tag. Women globally, meanwhile, typically receive less than 2% of venture capital funding across the world.

Mistral AI, an AI startup headquartered in Paris, secures staggering $640 million in funding

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Mistral AI has closed its much rumored Series B funding round with General Catalyst leading the round. The company has secured €600 million (around $640 million at today’s exchange rate) in a mix of equity and debt. As a reminder, Mistral AI is a relatively new entrant in the artificial intelligence space. It also has distribution partnerships with cloud providers, such as Microsoft Azure — Microsoft is also a minor shareholder in Mistral AI. According to the Financial Times, Mistral AI raised €468 million in equity and €132 million in debt (around $500 million and $140 million respectively).

“Against All Odds: Urvashi Barooah’s Venture Success Story”

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When Urvashi Barooah applied to MBA programs in 2015, she focused her applications around her dream of becoming a venture capitalist. She got rejected from every school, and was told she was being unrealistic about her prospects in the venture industry, but she didn’t let that deter her. She landed a spot at Wharton and said she catered all of her classes and extra cirriculars around learning everything she could about the venture industry. While growing up with entrepreneur parents didn’t introduce Barooah to venture capital, she thinks her upbringing makes her a better VC. “I started my journey in venture four years ago and knew nothing,” Barooah said.

Collaborative Fund Secures $125M Fund to Address Climate, Health, and Food Issues After Success with Reddit and Scopely

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The folks at Collaborative Fund certainly like a challenge. Oh, and they decided to raise their sixth flagship fund at a time when limited partners have grown more miserly. Collaborative recently raised $125 million for its sixth flagship fund, the firm exclusively told TechCrunch, completing the process in just over 90 days. “This fundraising environment is tougher than any I’ve seen since starting the firm well over a decade ago,” founder and managing partner Craig Shapiro told TechCrunch. Part of that could be the fact that Collaborative has recently returned capital to its LPs, Shapiro said.

“Meowtel: The Feline-Focused Enterprise That Pounced Through Financial Challenges and Achieved Profitability”

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Dogs are the most popular pet in the U.S.: 65.1 million households have one, according to the American Pet Products Association. Sonya Petcavich, the founder of cat-sitting app Meowtel, thinks that cats, and cat people, deserve more. “Rover had been around for a few years, and Wag was picking up steam, but they were so dog focused. Meowtel has made it to this point raising just under $1 million in venture capital. ImpriMed, a dog oncology startup, raised $23 million in November, and Fi, a smart dog collar, has raised more than $40 million in venture capital.

“VC Insights with Notable Capital’s Hans Tung: Assessing the Current Climate and Uncovering the Opportunities of Down Rounds”

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Notable Capital’s Hans Tung on the state of VC and the upside to down roundsTo some investors, “down round” is a dirty phrase, but not to Notable Capital’s Hans Tung. Hans is a managing partner at Notable Capital, formerly GGV Capital, a venture firm focusing on investments in the U.S., Latin America, Israel, and Europe. Hans, whose portfolio includes the likes of Airbnb, StockX and Slack, sat down with TechCrunch’s Equity podcast to discuss the overall state of venture and why he still believes down rounds can make a lot of sense. Of course, we dug into recent changes at his own firm, which evolved from 24-year-old cross-border firm GGV Capital and rebranded its U.S. and Asia operations to Notable Capital and Granite Asia, respectively. GGV’s transformation is the latest in a string of changes we’ve seen in the world of venture capital, including personnel changes at Founders Fund, Benchmark and Thrive Capital.

Location is Key: Unleashing the Power of Dataplor’s Data Intelligence Tool

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If you want to get your product in a grocery store in Mexico City, Dataplor has global location intelligence to help you do that. The company raised $2 million in 2019 to bring Latin American food delivery vendors online. Dataplor uses artificial intelligence, machine learning, large language models and a purpose-built technology platform to take in public domain data. While that is not totally unique — there are companies like ThoughSpot, Esri and Near doing something similar around business and location intelligence — Dataplor’s “secret sauce” is combining all of that technology and public domain data with a human factor. The round also includes participation from Quest Venture Partners, Acronym Venture Capital, Circadian Ventures, Two Lanterns Venture Partners and APA Venture Partners.

Andreessen Horowitz’s Fresh $7.2B Investment for the Future

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What is worth $11 billion and wants to go to Mars to collect rocks? NASA’s mission to Mars to collect rocks that was expected to cost $11 billion and take ages. So, the U.S. space agency is throwing the doors open to get more input, and that means that startups are looking at an opportunity that is truly out of this world. To close, the massive, gobsmackingly big $7.2 billion worth of new funds from a16z. For the full interview transcript, for those who prefer reading over listening, read on, or check out our full archive of episodes over at Simplecast.

“Ex-SpaceX Leader Tom Ochinero Establishes Fresh Venture Capital Entity, Documents Disclose”

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Former senior SpaceX executive Tom Ochinero is teaming up with SpaceX alum-turned-VC, Achal Upadhyaya, and one of Sequoia’s top finance leaders, Spencer Hemphill, on a new venture called Interlagos Capital, TechCrunch has learned. There is little public information available about Interlagos, and the trio did not respond to TechCrunch’s request for comment. Ochinero, Upadhyaya and Hemphill are all listed on the documents. Ochinero is just the latest SpaceX executive to move from the behemoth space company into venture investing. Other notable investors in the SpaceX-to-VC pipeline include Founders Fund’s Scott Nolan, who was a very early SpaceX employee, and Alpine Space Ventures’ Bulent Alton.