Former Google CEO raises $600M Fund

Where’s that money? 💸

Innovation Endeavors

Global | Seed to Growth | Life Sciences

Billionaire and former Google CEO Eric Schmidt started the firm in 2010 with the goal of investing at the intersection of science and technology.

Now 14 years later, Innovation Endeavors raises their fifth fund coming in at $630M. They haven’t made an investment out of the new fund just yet, but they intend to deploy capital into 30 to 35 companies.

With this new fund, the team says they will look broadly into two key areas.

1. The physical economy (energy, climate, infrastructure and materials)

2. Life Sciences (therapeutics and diagnostics)

Over the past 14 years, the firm has invested in 115 companies, 34 of which exited, including SoFi, Uber, and Astra.

Plural

Europe | Early Stage | Agnostic

European VC, Plural, is a relatively new firm that has quickly made a name for themselves.

The managing directors include Taavet Hinrikus, Ian Hogarth, and Sten Tamkivi who founded Wise, Songkick, and Skype respectively.

This latest fund is called Plural Fund II, and is a €400M fund which is arriving just 18 months after the firm raised their first €250M investment vehicle in 2022.

Cross Border Impact Ventures

North America and Europe | Early Stage | Healthcare

Managing Partners Donna Parr and Annie Theriault raise their inaugural $90M venture fund.

They will be investing in medical devices, diagnostics, and digital health companies in North America and Europe. CBIV focuses on healthcare software companies with ARR ranging from $1 million to $10 million, as well as firms developing technologies requiring regulatory approval, with at least one product having CE Mark or FDA approval.

ArcTern Ventures

Global | Series A and Series B | Climate Tech

Managing Directors Murray McCaig and Marc Faucher of ArcTern Ventures raise a $355M third venture fund.

This Toronto-based venture capital firm invests globally in breakthrough technology companies addressing climate change and sustainability. While global, the fund focuses on Series A and B companies in North America and Europe.

The fund will support technology companies in renewable energy, clean mobility, circular economy, sustainable food and agriculture, and industrial decarbonization.

Who’s Hiring? 😎

Psst…firms expanding their investment team are often raising a new fund behind the scenes. 💰

Firms that raised capital in the past few weeks.

January 23rd- Thomvest Ventures, Act One Ventures, Cardumen Capital…

January 15th- Venrock, Exponent Founders Capital, Seedstars…

January 9th- Baird Capital, Artis Ventures, Partech…

December 18th- Box Group, Cyber Fund, Singular…

December 11th- Collateral Good, BioStar Capital, Intuitive Ventures…

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