![]() Nyca Partners led the round and was joined by investors including Cross River Digital Ventures, Third Prime, Fin Capital, TTV, Nevcaut Ventures, Financial Venture Studio, and Jonathan Weiner. ![]() FairPlay, a Los Angeles-based decision-making algorithmic platform, raised $10 million in Series A funding. Anthemis Group led the round and was joined by investors including Lerer Hippeau Ventures, Plug and Play Ventures, CP Overture, Breakout Capital, Two Lanterns Venture Partners, and others. Koffie Insurance, a Brooklyn, New York-based insurance company for the trucking and transportation sector, raised $11 million in Series A funding. Velvet Sea Ventures led the round and was joined by investors including Greymatter Capital, Watershed, Builders VC, and others. Healthie, a New York-based infrastructure platform for digital health companies, raised $16 million in Series A funding. BDC Capital’s Cleantech Practice, Greensoil PropTech Ventures, UIT Growth Equity, Fulmer & Company, and others invested in the round. Intelligent City, a Vancouver-based urban housing design company, raised $17 million in Series A funding. Glade Brook Capital led the round and was joined by investors including AC Ventures, GoVentures, and InnoVen Capital. KitaBeli, a Jakarta-based social commerce platform, raised $20 million in funding. Tiger Global led the round and was joined by investors including QED and others. Meow, a San Francisco-based crypto yield, raised $22 million in Series A funding. FPV Ventures led the round and was joined by investors including Craft Ventures, Spark Capital, Harrison Metal, SV Angel, Abstract Ventures, the Chainsmokers, and Global Founders Capital. X1, a San Francisco-based credit card company, raised $25 million in Series B funding. Alignment Growth led the round and was joined by investors including OMERS Ventures, Mayfield, and Emergence Capital. Crunchbase, a San Francisco-based business information platform, raised $50 million in Series D funding. Cassava Technologies, a London-based digital services and infrastructure company to the pan-African region, raised $50 million in funding from C5 Capital. WestCap led the round and was joined by investors including Mubadala Capital and Streamlined Ventures. Flip, a Los Angeles-based e-commerce platform, raised $60 million in Series B funding. Enavate Sciences led the round and was joined by investors including Gaingels, 5AM Ventures, Polaris Partners, Northpond Ventures, Andreessen Horowitz, The Kraft Group, and others. CAMP4 Therapeutics, a Cambridge, Mass.-based biotechnology company using RNA to restore protein expression, raised $100 million in Series B funding. (You can use the code MATHEWS22 for 50% off) If you like the work we’re doing, please consider an annual subscription. That’s why Fortune put up a paywall-so that we’re able to dig deep and take a few weeks (or months) to write about the most overpaid CEOs in the Fortune 500, Zillow’s $6 billion home flipping disaster, or the growing number of online trolls. Just a reminder… I know you’ve heard me say this, but good journalism takes a lot of time and resources. You can read my full piece on Lightspeed, including how their funds are performing and what’s next post-Jeremy Liew, here. “We spent quite a lot of time last year, and the preceding years really, saying no.”Īpproximately 70% of Lightspeed’s growth investments last year were made in pre-existing portfolio companies-where the investment team knew the founder and felt they had “asymmetric access” to the company’s performance and “long term tailwinds,” Romano says.Ĭome 2022, those “nos” likely weren’t a bad idea. “Sometimes it’s a great company-and it’s one that we know well-but the price just didn’t make sense,” Romano says. (You can read about some of those other things in my latest feature here) It’s one interesting thing Lightspeed partners told me they had been up to over the past few years-and likely one of the reasons the firm’s limited partners were willing to throw another $7.1 billion in their direction amid the widespread uncertainty we’re seeing in both the public and private markets. Second, to challenge every single one of Lightspeed’s investment assumptions. ![]() This new team, comprised of four people, has a couple of responsibilities: First, to standardize the metrics the firm is using to evaluate all its investments. That and the company was anticipating a correction. That’s the reason why Lightspeed, the Menlo Park, Calif.-based VC that collectively oversees some $18 billion in assets under management across its funds, set up what it calls a “re-investment team” about three years ago. ![]() “Everyone’s baby is beautiful, especially when you’ve been involved in some of these portfolio companies from a seed or Series A,” says Michael Romano, Chief Business Officer of Lightspeed Venture Partners. ![]()
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