Bloomberg:
PitchBook: in H1 2022, VC funding fell 8% YoY to $147.7B, pushing US startups to raise $17.1B in debt, up 7.5% YoY — Venture capitalists have spent years aggressively buying stakes in cash-burning technology startups, valuing more than 1,000 of them at at least $1 billion apiece, even though many remained far from turning a profit.
@bitech:
[Thread] A founder of a tech startup describes how he made ~$200K last year as a side hustle by ghostwriting tweets for venture capitalists — 👻 Ghostwriting tweets for venture capitalists is the side hustle of the founder of a tech startup (who asked to remain anonymous). Last year he made about $200,000. Here’s how he did it, as told to Insider’s @Schwartzesque. 👇 https://www.businessinsider.com/ …
Hannah Miller / Bloomberg:
PitchBook: venture capital investment in crypto startups declined 37% YoY in Q3 2022 to $4.44B, the industry’s lowest level in more than a year — Crypto startups are suffering from this year’s mass selloff of digital currencies. Venture capital investment in the industry sank to its lowest level …
Carly Wanna / Bloomberg:
Crypto.com’s 2022 World Cup sponsorship, a symbol of how aggressively crypto companies spent on ads to gain users, was largely overshadowed by FTX’s collapse — At Sunday’s World Cup championship final between France and Argentina, Crypto.com will have a highly coveted seat right on the sideline …
Oliver Knight / CoinDesk:
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022 — Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX. — Luna Foundation Guard (LFG) …
Heather Somerville / Wall Street Journal:
PitchBook: VCs raised $151B across Q1, Q2, and Q3 2022, exceeding any prior full-year cycle, concentrated among large funds at Sequoia, Lightspeed, and others — Limited partners who back venture funds still seek access to startups, which have outperformed other asset classes during recessions
Kate Clark / The Information:
Bessemer Venture Partners raised $4.6B for two new funds in August: $3.85B for young startups, the firm’s biggest fund to date, and $780M for PE buyouts — Venture capitalists aren’t striking many deals with tech founders these days. Initial public offerings are nonexistent and public tech stocks …
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