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IBM Ventures Makes a Big Bet
IBM Ventures, Interplay, Faction Ventures, Black Opal Ventures, 20Growth
Millet Gilmore
November 14, 2023
Where’s that money? 💸
IBM Ventures
Global | Early and Growth Stages | Enterprise AI
IBM announces a new $500M fund to invest in Enterprise AI startups to accelerate the company’s generative AI research. IBM is investing a considerable amount of its resources into AI, backing Hugging Face in their $235M Series D round a few months ago.
20Growth Partners
Global | Early Stage | Sector Agnostic
Harry Stebbings, the Founder of 20VC, has launched a $5M fund called 20Growth. He is looking to invest in about 50 companies with $100,000 checks into each at the pre-seed, seed, and series A rounds. The name comes from product growth as Harry has brought in 9 growth and marketing experts to be founding partners in this fund. These partners work at leading companies such as Shopify, Dropbox, Pinterest, Airtable, DoorDash, Eventbrite, Facebook and Ro.
Samuel Harrison, Founding Partner of Faction
Global | Seed to Series A | Blockchain
Faction Ventures, led by Samuel Harrison, is betting big on blockchain with this new $285M fund. Samuel is a former Senior Advisor at Lightspeed, and he tapped the Lightspeed LP’s to raise this oversubscribed fund. While legally independent from Lightspeed, this is a joint venture between the two firms. So far they have made about 20 investments in stealth, with an average check size of $7.5M.
Dr. Tara Bishop and Eileen Tanghal
United States | Early Stage | HealthTech
MIT alumni Dr. Tara Bishop and Eileen Tanghal have raised their inaugural $58M healthtech fund. They are looking for companies that are building the future of healthcare from diagnosis to care deliver to drug discovery.
Interplay Team
Global | Seed to Series B | Sector Agnostic
The New York-based firm raises their third fund, totaling $45M, led by Mark Davis, Kevin Tung, and Mike Rogers. They invest in a wide range of technology-enabled businesses that have already demonstrated product-market fit and revenue growth. Historically they’ve invested in startups in the US, Canada, Latin America, and Israel.
Who’s Hiring? 😎
Psst…firms expanding their investment team are often raising a new fund behind the scenes. 💰
Temasek- Life Sciences and Healthcare
Senior Associate | NYC or SF | Application
Two Sigma Ventures- Data-driven startups
Senior Associate | New York City, NY | Application
Kiva Capital- Nonprofit, financial services
Director | Remote | Application
Singtel Innov8- Tech-enabled businesses
Associate | San Francisco, CA | Application
Firms that raised capital in the past few weeks.
November 6th- Village Global, Bioluminescence Ventures, Bee Partners…
October 30th- Flourish Ventures, Wellington Access Ventures…
October 23rd- Mosaic GP, Shield Capital, Syn Ventures…
October 9th- Greylock, Visa Ventures, At One Ventures…
October 2nd- Luge Capital, Anzu Partners, Microsoft, Techstars…
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