Author Archives: eyesvc

Toyo unveils new all-position tire

Toyo Tire introduces a new urban/regional all-position commercial Toyo M156. This SmartWay-pending Tire succeeds the M154 and has several upgraded features. These include a four-rib design and a new patented buttress-sidewall design which ensures even pressure distribution along the center and outer contact patch ribs, reducing irregular wear.

Toyo’s E-balance Technology and specialized sidewall, base, cap, and base compounds combine to provide a low rolling resistance tire that is long-lasting. These compounds, a wide belt package and a new carcass design, combined with a high elongation top-belt, reduce the strain at the belt and bead edges. This allows the tire to maintain an even, flat tread radius. This improves fuel efficiency, turning, casing durability and wear resistance. A center groove with angled groove wall and stone ejectors resists irregular wear and tear, minimizes stone retention, and helps protect the casing. The outer grooves have a stabilizer to prevent rib flex and promote even tread wear.

The new M156 commercial tire size will be available in wheel diameters of 19, 22, and 24 inches starting in July 2024.

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Trucking fleets urged to be proactive in litigation

Rob Moseley, of Moseley Marcinak Law Group, says that “too many emails in the office can also be sought by the opposing party.” You’ll have to keep your emails forever if you send them around the office. (Truckload Carriers Association)

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INDIANAPOLIS – When a trucking firm anticipates or becomes involved in serious accident litigation the C-suite executives may want to remember that their company lives in a “glass house”.

According to Rob Moseley a trucking attorney who has spent a lot of time defending carriers and preventing their data and records from falling into the hands of plaintiff lawyers. It’s not that the competition between specialized truck accident lawyers is easy.

Moseley Marcinak Law Group, based in Greenville, S.C., is the founding member of the Moseley Marcinak Law Group. He spoke at Truckload Carriers Association 2024 Safety and Security Meeting on June 3.

RELATED : Truckers Urged To Get Vocal On Regulatory Challenges

Moseley said there is a good chance that a trucking attorney’s opponent could be a member of the Academy of Truck Accident Attorneys, a large and notorious group with hundreds of attorneys who represent plaintiffs. The members include law firms with names like “The Truck Accident Law Firm”, “The Law Firm for Truck Safety”, “California Truck Injury Law” and Truck Wreck Justice.”

To be part of the group plaintiff attorneys must impress its leadership and have passed a “rigorous testing process” to ensure a high level of knowledge, expertise and capabilities in the specialized field of trucking litigation.

Corey Cox, of the Tandet Group, discusses how early AI users are beginning to reap the benefits of the latest wave. Tune in above or by going to RoadSigns.ttnews.com.

These litigators aren’t your typical billboard truck accident lawyers who tend to churn out cases quickly, instead seeking out-of court settlements that are more moderate than large nuclear jury verdicts.

Moseley said, “They work very hard.” “They spend a great deal of time working together.” They have focus groups together. They have mock trials together. Some members have spent two weeks in Montana studying intensively to obtain their CDL.

Moseley said that one of the biggest challenges truckers face is that plaintiff attorneys can easily obtain so much data from motor carriers. There are 17 sites that offer a variety of data files from the Federal Motor Carrier Safety Administration. These are files that carriers must provide. These include information on licensing, insurance, and Compliance, Safety, Accountability programs.

“There are now Plaintiff Attorneys that are subscribing these databases, which I do not think is a good thing,” Moseley said.

Moseley’s film star cop is not the hero. “My hero” is a protective order, he said.

If we are going to litigate in these cases, then we need to protect all of our data.

Rob Moseley, Moseley Marcinak Law Group

“The idea is, if we’re litigating these cases, we have to protect our data,” said he. “And if the data is not protected by a protective order and is produced, then it will be shared with plaintiff attorneys.”

“You guys need to be sophisticated legal buyers. If you are in litigation, make sure that your lawyers ask for protective orders before you release information. Hire an attorney early to protect certain records as work products.”

Moseley said that it is probably not a good thing to create reports that a plaintiff’s attorney could request. “Also, the opposition can also seek out too many emails within the office. Emails that you send around the office will remain there for eternity. Nobody really cleans up their emails. They never really disappear. They’re forever.”

He said, “You’re violating your retention policy when you send stuff in email.” If your policy states that you can only keep documents and data for six-months, then get rid of them after six months.

Moseley acknowledged that truckers have the right to write or create their own policies regarding how long they keep documents. If a carrier adheres to a written retention policy, a court will likely show deference.

Moseley advised: “But be sure to destroy it within 90 days.” “For example, you may say that you will keep a document for 90-days, but if FMCSA does not require you to keep it any longer, the judge would likely tell the plaintiff’s attorney that they got rid of the document after 90-days. You can’t even see it.

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EBRD: Additional EUR300 million for the purchase of freight electric locomotives

The railway transport news portal Rail Supply reported that JSC “Ukrzaliznytsia”, (UZ), has signed an agreement for the allocation of additional EUR300 millions for the purchase and installation of freight electric locomotives.


The memorandum has been signed in Berlin at the Ukraine Recovery Conference, with representatives from UZ, EBRD, and Ministry of Development of Communities, Territories, and Infrastructure of Ukraine.




India: Trains that can reach speeds of up to 250 km/h



This step is part of the ongoing efforts to modernize rail transport in the country.


Prior to this, UZ had confirmed that $190 million would be allocated under the World Bank grant project “Restoration of Critical Logistics Infrastructure and Network Connectivity” (RELINC).


UZ Chairman Yevhen Liashchenko stressed that updating the locomotive fleet was crucial for the company.


The new high tech electric locomotives will increase the efficiency of freight transportation.


Lyashchenko said that the World Bank’s and EBRD’s cooperation is an example of international financial institutions joining forces to implement large-scale projects in infrastructure.


In conjunction with the allocation of funds to the project, the parties also agreed to conduct an analysis of the pre-investment of the project. This included technical, environmental, financial, social and economic aspects.


This approach ensures that the modernization of rail transportation is a comprehensive one, taking into consideration all risks and benefits.


The project aims to acquire up 80 modern electric freight locomotives.


The corresponding procurements were already published on the EBRD’s tender portal.


The tender conditions stipulated that the winning bidder must not only provide the locomotives, but also establish facilities for their maintenance and warranty repair in Ukraine.


The new traction rolling stocks will be operated at maximum efficiency and reliability.




Kryukov Railcar Building Works presented Ukraine at the international exhibit in Baku



The “Restoration of Critical Logistics Infrastructure and Network Connectivity” (RELINC), project is crucial to improving Ukraine’s transportation infrastructure.


The aim of the project is to restore and develop logistic networks that have been damaged or destroyed in recent years due to conflicts and economic hardships.


Restoring the infrastructure is crucial for the economic growth and stability of the country.


The additional funding from the EBRD is expected to accelerate the modernization and ensure timely delivery of the new electric locomotives.


This will, in turn enhance the competitiveness and efficiency of Ukrainian railways on the international transport service market.


The agreement with the EBRD, and the continuation of the cooperation with the World Bank, open new perspectives for JSC “Ukrzaliznytsia” and the entire transport sector in Ukraine.


The project will improve the logistics infrastructure, increase the efficiency of freight transportation, and create new jobs.


This will have a significant impact on Ukraine’s economy and position in the international arena.



Railway business, industry and railway technology news that you may have missed from Railway Supply:




In Serbia the first train of the Chinese company CRRC was presented



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First 10 hires for DHS AI Corps Announced

The Department of Homeland Security announced today the 10 first members of the AI Corps, the Department’s sprint to recruit 50 Artificial Intelligence technology experts. These individuals will be responsible for leveraging AI in strategic mission areas such as countering fentanyl, combating online child sexual abuse and exploitation, delivering immigration service, fortifying critical Infrastructure, and enhancing cyber security.

The team has a wide range of skills and experiences that will benefit DHS. These include technology experts with backgrounds including AI and machine learning, data science, data engineering and management, program and product development, software engineering and cybersecurity, as well as the safe and responsible use of these technologies.

Secretary for Homeland Security Alejandro N. Mayorkas, and Chief AI Officer Eric Hysen have announced the first ten recruits.


“Our Department is leading the federal government’s efforts to harness AI’s potential in order to achieve the mission.” To further our leadership, we have recruited AI talent from across the country, attracting skilled professionals to the public service.” said Mayorkas.

“We are thrilled to welcome our first group AI experts as we begin the work of our AI Corps. The Secretary said, “I look forward to expanding our AI Corps over the next few months as we continue to introduce safe and responsible AI across the wide range of missions that we perform.”


The first 10 recruits will be:

  • Sadaf ASrar Former AI Technology Expert for the National Center for Education Statistics
  • Zach Fasnacht – former Senior Manager of Product Management at PricewaterhouseCoopers (PwC)
  • Pramod Gadde is a machine-learning leader and founder of several healthcare startups, including Confidante
  • Sean Harvey – former Group Product Manager at Google
  • Jenny Kim – former Principal Product Manager for McKinsey & Company
  • Babatunde oguntade Served as Senior Principal Data Scientist for CACI International
  • Christine Palmer, former Chief Technology Officer (CTO), U.S. Naval Observatory
  • Dr. Stephen Quirolgico has 25+ years experience in government, academic, industry and research and development. He is an expert in AI, machine-learning, networking and cybersecurity.
  • Raquel Romano Former Senior Director of Engineering for Fora
  • Robin L. Rosenberger Former Director of Interagency IT, Data, and Analytics Initiatives at the Chief Digital and Artificial Intelligence Office of the Office of Secretary of Defense.

Michael Boyce has also been announced as the first director of the DHS AI Corps by DHS. Boyce, a former official of the Office of Management and Budget, helped write the section of the President’s executive order on the safe, secure, and trustful development and use of artificial intelligence that deals with federal use of generative AI.

DHS continues to recruit for AI Corps after these initial hires. Interested applicants can apply at https://www.dhs.gov/ai/join.

Rob is an ambitious and enthusiastic writer with a curious and passionate mind. He has written for a wide range of clients in STEM sectors, such as aerospace, aviation, software development, finance, and space. Rob has covered a wide range of topics from AI and cybersecurity, to digital transformation, to sustainability.

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NATO invests in the first four European startups for space forges, faster AI and battlefield robots

NATO has announced the first group of European startup and venture-capital firms that it will invest in as part its EUR1bn Innovation Fund.

The NATO Innovation Fund, which will be officially launched in 2023 is a multi-sovereign venture capital fund. It will support early-stage deep technology startups as well as VCs that are targeting emerging technologies for military and defence applications.

The list of technologies includes AI, big data processing and quantum computing, as well as biotech, novel materials and spacetech. The NIF aims to improve the defence and security for the 24 members of NATO. Its headquarters is located in The Netherlands.

“Enabling capital for strategic technologies and supporting them is crucial to ensuring a safe and prosperous tomorrow for the Alliance’s 1 billion citizens,” said Andrea Traversone.

The first European startups to receive funding

The NIF’s initial investments are focused on AI, robotics and spacetech. Here are the first European startups to receive funding from the fund.

ARX Robotics The German startup is developing modular unmanned robotic vehicles. These are suitable for military and commercial purposes. The vehicles can be controlled remotely and equipped with equipment like mine-sweeping devices and radars.

ARX Robotics, founded in 2022, has built 12 robots, which have been tested by the army forces of Ukraine, Germany Austria, Switzerland and Hungary.

Fractile Artificial Intelligence: A spin-out from the University of Oxford ,the company based in London builds computer chips that it claims enable large language models to run faster. The startup’s technology boosts AI by running the operations required for model interference in RAM.

iCOMAT :Founded by a UK startup in 2019, iCOMAT is a manufacturer of ultralight materials for the aerospace sector and automotive sector.

The company developed, a fully automated production process that turns carbon fiber into composite materials up to 65% lighter compared to the materials currently used.

Fuel consumption is reduced when vehicles such as fighter jets are lighter.

Space Forge : The Welsh firm aims to establish reusable manufacturing capabilities on-orbit that harness the conditions in space environments, including microgravity.

It focuses on production of semiconductor materials used in critical infrastructure. Use cases range from aerospace to quantum computing and telecommunications.

NATO invests in four VC companies

The NIF also funds four European venture capital firms which are supporting early-stage deep technology startups with a particular focus on the defence and security markets. These are Alpine Space Ventures (ASV), OTB Ventures (OTB), Join Capital and Vsquared Ventures.

The fund will invest EUR1bn over a period of 15 years and it appears that Europe will receive further support.

The Financial Times quoted Traversone as saying: “The market for defence technology has grown dramatically in the last three or four years, and we all know the reasons.

He said that the trend began in the US but that Europe is now catching-up quickly.

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11 VC firms funding the next phase of the creator economy, from AI-powered tools to e-commerce startups

11 VC firms funding the next phase of the creator economy, from AI-powered tools to e-commerce startups


L to R: Rex Woodbury (Daybreak Ventures), Susannah Shipton (AlleyCorp), and Kamran Ali (Inspired Capital).



L to R: Rex Woodbury at Daybreak Ventures, Susannah Shipton at AlleyCorp, and Kamran Ali at Inspired Capital.

Daybreak Ventures/AlleyCorp/Inspired Capital



  • As the creator-economy hype wanes, some startups are still catching the attention of investors.
  • Creator-economy upstarts from WorkWeek to Beehiiv have raised funds in 2024.
  • BI is highlighting 11 VC firms that are still captivated by and cutting checks for creator startups.

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The creator economy isn’t a shiny new toy anymore.

Like its peers in tech and advertising, startups in the creator industry have had to adapt to changing economic forces, leading to rounds of layoffs, fire sales, and a slowdown in investments. Unicorn startups like Jellysmack have contracted. Others, like BEN Labs, have had to restructure.

But firms like Goldman Sachs are still betting the category will grow into a meaningful part of the marketing industry in just a few years. And things are beginning to look up again for creator startups.

While venture-capital investments in creator upstarts waned for much of 2023, they are rebounding, particularly in the US, The Information reported earlier this year. Startups are raising seed and later-stage rounds from VCs, albeit at smaller scales.

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For instance, PunchUp, a comedy startup that helps comedians sell tickets and market live events, closed a $1 million round in November. Other companies, including Beehiiv, WorkWeek, Storiaverse, and ShopMy, have also raised millions of dollars in the past year.

Investors like Daybreak Ventures’ Rex Woodbury are keeping tabs on innovative shopping applications that bridge commerce and content — a category that has been an ongoing testing ground since the rise of the creator economy. Woodbury is excited by “discovery-driven shopping” tools like Flagship, a digital storefront startup.

“Hype is always something to be wary of in venture,” Woodbury told Business Insider. “This is really an industry about being contrarian. When something is out of favor, that’s almost more attractive, right? Because then you can find companies that are under the radar or founders who are exceptional, but maybe not being priced up the wazoo.”

Artificial intelligence remains a focus of many investors in 2024, too. It touches the creator economy as startups develop ways to augment and potentially replace humans in accomplishing some creative tasks. For instance, A* Capital has invested in AI tools for creators over the past year, including EyeTell, founded by YouTube cofounder Chad Hurley.

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Creators and creator-founded brands, like Chamberlain Coffee and MrBeast’s Feastables, are also raising capital from VCs. Chamberlain Coffee announced a $7 million round last June featuring investors like Volition Capital, Blazar Capital, and the investment arm of United Talent Agency.

“The big question is … how do you break through the noise?” said Inspired Capital’s Kamran Ali, who led ShopMy’s latest round. He added that Inspired talks closely with brands and creators to hear what products and startups are exciting, which helps guide the firm’s investments.

Business Insider is highlighting 11 VC firms and their partners who are focused on finding the next wave of promising creator-economy startups. This list, our fifth annual, was compiled by BI based on our reporting and the nominations that we received. We looked at each firm’s investments in the past year to understand how they funded new ideas in the creator industry.

Each venture capital firm is listed below, in alphabetical order:

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A Star has been investing in AI-powered tools that help creators make content


Kevin Hartz is a cofounder and general partner at A* Capital.

Kevin Hartz



Investor: Kevin Hartz, cofounder and general partner

A Star Capital, stylized as A* Capital, is a San Francisco-based VC firm that has invested in companies like PayPal, Airbnb, and Pinterest.

Prior to launching the firm, Hartz was a cofounder of Eventbrite and Xoom. When making investments, Hartz said he looks for “exceptional talent” and gets excited by startups that help people monetize their creativity on the internet.

A* primarily leads seed rounds.

Fund size: $315 million, according to the firm

Relevant investments:

  • Whop
  • Munch
  • EyeTell
  • Krea

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AlleyCorp’s investors are eyeing B2B and B2C marketplace applications


AlleyCorp’s Susannah Shipton (L) and Marshall Porter (R).

Courtesy of AlleyCorp



Investor: Susannah Shipton, partner; Marshall Porter, general partner

AlleyCorp is a New York-based firm that has made investments in companies across enterprise software, marketplaces, consumer tech, healthcare, and robotics. Shipton and Porter are the firm’s primary partners leading creator-economy investments.

Shipton works closely with AlleyCorp’s portfolio companies via the firm’s incubation support, which develops ideas and strategies for early-stage startups. She previously was the director of strategy and operations at Artsy, a fine-art marketplace.

Porter leads the firm’s early-stage investments and incubations, focusing on B2B and B2C marketplaces. Before joining AlleyCorp, Marshall was the US CEO of Gympass.

Typically, the firm cuts checks for pre-seed, seed, and Series A rounds.

Fund size: $250 million, according to the firm

Relevant investments:

  • ShopMy
  • Agentio

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Antler looks for ‘maniacs’ and resilient founders


Antler.

Antler.



Investor: Jeff Becker, general partner

Becker arrived at early-stage VC firm Antler in 2022 after working as a general partner at Forum Ventures. Before his VC career, he founded an audio-earbud startup, Earhoox, and spent nine years in various roles at LinkedIn.

Becker said he looks for “maniacs” and resilient founders when identifying prospective investees in the creator economy. He talks to 30 to 40 founders a week in screening calls, testing out questions to see how he can learn the most about each entrepreneur.

Fund size: Between $500 million and $1 billion total assets under management across geographies, according to the firm.

Relevant investments:

  • Agentio
  • PerformVu
  • Subbb

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Rex Woodbury left Index Ventures to found Daybreak Ventures


Rex Woodbury.

Courtesy of Daybreak



Investor: Rex Woodbury, managing partner

A newer firm in the mix, Daybreak Ventures, launched in late 2023 after Woodbury left Index Ventures, where he spearheaded investments in several creator-economy startups, including Creative Juice and Fanbase.

Daybreak invests in internet, software, and AI applications with “potential for viral adoption,” Woodbury said.

The firm cuts checks for pre-seed and seed rounds.

Fund size: $30 million, according to the firm

Relevant investments:

  • Flagship

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Inspired Capital had 2 portfolio companies get acquired in the past year


Kamran Ali.

Courtesy of Inspired Capital



Investor: Kamran Ali, principal

Ali joined Inspired Capital in 2020 and previously worked as an investor at Point72. He led influencer-marketing company ShopMy’s recent Series A round and has invested in creator startups like Deeptune, an AI-powered dubbing solution for creators.

Inspired Capital’s team has also invested in creator-economy startups like Creative Juice and Geneva, which were both acquired in the past year.

The firm leads pre-seed, seed, and Series A rounds, with checks between $1 million and $15 million.

Fund size: Recent fund is $330 million and $900 million in assets under management, according to the firm

Relevant investments:

  • ShopMy
  • Winible
  • Creative Juice
  • Geneva

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Intuition Capital launched in April with a €15 million fund


Intuition is a new VC fund founded by Hugo Amsellem (L) and Etienne Boutan (R).

Courtesy of Intuition



Investor: Hugo Amsellem and Etienne Boutan, cofounders and general partners

Another new firm, Intuition Capital, launched in April and has its eyes set on disruptive consumer-tech startups. Amsellem previously worked for creator-economy startup Jellysmack and was an angel investor in several companies, including Beehiiv, Creative Juice, and Popchew.

While the firm’s thesis is centered on consumer tech and loneliness, Amsellem told BI he is still looking at creator-economy companies to invest in — just with an “extended definition of creator to anyone making money online and the space as enabling solo entrepreneurship more than creators as entertainers or content-first only.”

Intuition plans to deploy 40 to 50 small checks over the next four years as it invests in early-stage startups.

Fund size: €15 million (about $16 million), according to the firm

Relevant investments:

  • Argil AI

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LightShed seeks creator startups that make money outside of content


Jamie Seltzer, general partner at LightShed Ventures.

LightShed Ventures.



Investor: Jamie Seltzer, general partner

LightShed Ventures focuses on early-stage investments in the media, tech, and telecom spaces. Seltzer, a general partner at the firm, previously worked on early-to-mid-stage media investing at Waverley Capital. Before that, he was a founder and CEO at earbuds maker Alpha Audiotronics and worked in private equity and investment banking.

LightShed looks to invest in startups that are producing high-quality, differentiated content. The firm is interested in companies that have a loyal customer base and can make money outside of content through products or other services (akin to an influencer like Kim Kardashian launching a consumer brand like Skims).

Fund size: $80 million, according to the firm

Relevant investments:

  • WorkWeek

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MaC Venture Capital continues to invest in startups that help creators get paid


Marlon Nichols is a cofounder and managing general partner at MaC Venture Capital.

MaC Venture Capital



Investor: Marlon Nichols, cofounder and managing general partner

MaC Venture Capital has been on this list for the past three years and has expressed its continued interest in the creator economy. In addition to backing creator-economy companies like Brat TV and FaZe Clan, MaC Venture Capital has invested in emerging social networks like Spill and SWSH.

Nichols looks for startups that focus on transparency and fairness for creators, the firm said. He also seeks out companies that help creators be creative while relinquishing the worry of going unpaid or unrecognized for their work.

MaC focuses on seed-stage investments, per the firm.

Fund size: $203 million Fund II, and $500 million in AUM, according to the firm

Relevant investments:

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Pari Passu Venture Partners works with e-commerce startups that leverage creators


Pari Passu Venture Partners from L to R: Kyle Widrick, Julia Krieger, and Dylan Whitman

Courtesy of Pari Passu Venture Partners



Investor: Julia Gudish Krieger, managing partner; Kyle Widrick, partner; and Dylan Whitman, partner

Pari Passu Venture Partners, or PPVP, is an early-stage VC firm and co-investment network that invests in seed and Series-A stage upstarts. The company has a particular focus on e-commerce in its co-investor cohort. E-commerce has become an increasingly central piece of how creators and platforms make money in 2024.

Managing partner Krieger, who was previously an investor at Insight Partners and founded luxury rental marketplace VillageLuxe, said she looks for founders who are “borderline obsessed in solving a gap they found in the market.”

Partner and investor Widrick, founder and CEO of retail platform Win Brands Group, said he focuses on software that helps creators connect with the brands that they actually care about.

Partner and investor Whitman, who cofounded Shopify merchant memberships platform BVA Commerce with Wildrick, said he looks for startups that reduce friction for brands and offer tools to help them scale campaigns with authenticity.

Fund size: Investment checks have typically been around $750,000 across its 23 investments to date, per the company.

Relevant investments:

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SignalFire funds startups that help creators be more independent


Josh Constine, venture partner at SignalFire.

SignalFire.



Investors: Josh Constine, venture partner; Wayne Hu, partner; Ilya Kirnos, partner and CTO

SignalFire is an early-stage VC firm with around $2.1 billion in assets under management, per the company. Constine, its venture partner, focuses on consumer upstarts that work on products for the creator economy and other categories like marketplaces and AI-powered services.

Constine looks for young companies that help creators control how their content is distributed. This includes upstarts that help creators reach fans without relying on unpredictable factors like platform algorithms. He’s also interested in companies that build tools that help creators perform tasks on their own that would normally require a team to accomplish.

Fund size: $900 million, according to the firm.

Relevant investments:

  • Karat
  • Nim

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Volition Capital is betting the creator economy can change how we make money and buy things


Volition Capital’s Jim Ferry, Larry Cheng, and Carolyn Woll (L to R).

Courtesy of Volition Capital



Investor: Larry Cheng, managing partner; Jim Ferry, partner; and Carolyn Woll, analyst

Volition Capital invests in growth-stage companies generating between $5 and $50 million in revenue annually. It seeks out companies that are bootstrapped, meaning they haven’t raised funding from institutional investors before.

Volition is interested in how the creator and gig economies have reshaped how individuals make money, changing the ways that products are sold and creators make content. It generally looks for passionate founders who are capital-efficient and seeking out a long-term partner.

Fund size: $675 million, according to the firm

Relevant investments:

  • Chamberlain Coffee
  • Mozaic

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Meet the dealmaker who is transforming Mubadala’s tech investments

Ibrahim Ajami, who was selected by Mubadala in 2017 to open an office in San Francisco and lead the Abu Dhabi sovereign fund’s technology investments, adopted a regimen that included organic green tea, almonds and magnesium citrate.

In a profile on the Lebanese born, UAE raised financier, describes how Ajami’s jet lag treatment helped him deal with the grueling commutes to the Gulf.

Ajami, who is now 49 years old, has become the head of Mubadala’s venture capital division. He has managed investments in emerging companies such as SpaceX, Brex Klarna, and Waymo. He has worked to dispel the myth that sovereign funds are bureaucratic and slow, and shaped Mubadala so it can compete with Silicon Valley’s top VC firms.

Ajami stated in an interview that “the way founders talk about Sequoia, why won’t they be speaking the same way about Mubadala 20 years from now?”

Kate Clark writes about Ajami’s next move in the Information. Mubadala, on the other hand, is increasingly using its power to encourage Western investors and companies to deepen their connections to the UAE’s technology ecosystem. This is part of the country’s broader effort to diversify its economic base away from oil.

Ajami said, “It is increasingly becoming a place that you are not just flying into and presenting to large sovereign wealth funds.” “You’re wondering, ‘What market opportunities are there for me here?'” What are the business opportunities here?

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Zoi Capital Founders and industry veterans Announce 200 million dollar fund targeting AI technologies with practical applications for healthcare


The Venture Capital Firm Expands Investments in Innovative Health Companies

NEW YORK /PRNewswire/, June 27, 2024 — Zoi Capital is a venture capital company that specializes in artificial intelligence solutions for healthcare. It was founded by Dr. Ronald M. Razmi, former Executive Vice President and General Counsel at Horizon Therapeutics. Brian K. Beeler is the former Executive VP of Horizon Therapeutics. The co-founders, Managing Directors and CEOs have more than 50 years experience in the medical field and are responsible for more $30 Billion in exits through public markets and acquisitions. Announce their fundraising target of 200 million.

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Kevin Hartz’s A* raises a second oversubscribed fund within three years

According to PitchBook’s data for Q1, venture firms raised $9.3 Billion in Q1. This means that this year’s total is unlikely to match or exceed 2023’s $81.8 Billion. emerging managers feel the frost of the fundraising market the most. However, some emerging VCs, like A*, have a track record and name recognition that allows them to find success.

A*, led the former Eventbrite founder Kevin Hartz and former Coatue partners Bennett Siegel and Gautam Gupta of Opendoor and Uber, raised $315m for its oversubscribed fund II. The firm will continue to focus on leading seed rounds, doubling down its portfolio companies at Series A and making select new investments in the Series B stage.

Siegel explained, “We found that our product market fit was really at the seed and initial stage. We partnered with founders to zero to one, while continuing to support the breakouts within our portfolio.” “That’s when we have been most successful.”

The phrase “zero to one” is a reference Peter Thiel’s book of the same title. In VC jargon, it means turning a new concept with no proven track record into a business with a product and clients, rather than a startup that replicates or expands an existing idea.

The fund will remain a generalist, investing in different industries. Gupta stated that they prefer to find the best founders and then follow them into whatever industry they are building. Right now, the firm is focusing a lot on AI and the resurgence in consumer tech.

Gupta said, “Everything will take care of itself if you support the right people.”

The LP base of Fund II is the only noticeable difference between Fund I. Fund II was raised exclusively from institutional investors, whereas Fund I had a number of well-known VCs as well as former operators. Max Levchin, David Sacks, and Peter Thiel, all of PayPal fame, were Fund I backers, along with Tony Xu, the cofounder and CEO of DoorDash and Eric Wu, the cofounder and president of Opendoor.

Another VC firm told me this week that switching to institutional investors at the Fund II stage is not uncommon. This is because the firms have a good track record and can attract institutional investors. These deep-pocketed investor become necessary when firms want to grow their fund size.

A* doesn’t want to raise as much as possible. It deliberately kept Fund II as a modest step above the firm’s first Fund — Fund I raised 300 million, exceeded its $250 million target and closed in 2021.

Siegel said, “Fund size is a strategy and strategy is the fund size.” “We want to be a preferred partner, but small enough so that we can focus our efforts on generating incredible returns. We wanted to focus more on mentorship than just deploying large amounts of capital.

The company invested in 35 startups, including Ramp, a fintech startup, Notion, a workflow tool, and Faire, a wholesale marketplace, all of which were Series B or higher. It also led seed rounds for companies such as AI startup EyeTell and recruiting marketplace Paraform. The firm also incubated three other companies, which are still in the stealth phase.

The firm believes it stands out in a very crowded market for seeds because of its founding partners’ vast experience across three decades and industries.

Hartz’s reputation in the tech world is also a plus. Hartz scaled Eventbrite and Xoom to their respective exits, before working at Founders Fund. He also invested in companies like Gusto Pinterest and Reddit. Gupta is the former head finance at Uber, and was also COO and CFO of Opendoor. Siegel was an investor at Coatue and backed Peloton as well as Instacart, DoorDash and others.

The group had been friends for many years before they began talking about launching the fund in late 2020. They are now looking to use the latest fund to continue to find and back great early-stage entrepreneurs in a market that is very different from where they originally launched.

Hartz said that the challenge of today’s era is that companies do not die from starvation, but rather indigestion. “We can help these companies who are hungry for insights and want that assistance get from zero to a place where capital is abundant.”

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Future Prospects of Poland’s Startup Ecosystem, with Maciej cwikiewicz CEO of PFR Ventures

The Recursive Presents Bite-Sized Discussions*

The public sector is a great example of central planning.

The Polish Development Fund (PFR), a financial institution, supports economic development initiatives. In 2016, it was formed with EU funds and pumped capital into PFR Ventures – a government-owned institution Limited Partner. PFR Ventures, a government-owned institutional Limited Partner, was formed in 2016 with EU funds.

Maciej Cwikiewicz shared with The Recursive his perspective on the opportunities and challenges that shape the Polish startup scene.


*Our new series is designed to give you a quick overview of the CEE landscape within just 2 minutes. Continue reading.

R: What are some of the challenges and opportunities facing the Polish startup ecosystem today?

M.C. In the past few years, almost 1K Polish companies have raised pre-seed/seed financing. Some of them have managed to attract new investor.

There were more than 50 active local VCs. This is a new generation of Polish entrepreneurs. This is a challenge and an opportunity at the same time.

The situation will be much better than it was before 2019, but the records of 2021 or 2022 cannot be beaten.

R: Which sectors or industries have seen significant growth and innovation in Poland?

M.C. HealthTech has been the most popular industry for years. Many factors contribute to this success, including local challenges in public health care or global problems with civilisation diseases. I believe that in the coming years, we can expect to see exceptional HealthTech projects which will use the potential of AI in order to build companies in Poland on an unprecedented scale.

R: What is your vision for the future of Poland’s startup ecosystem and how do see it evolving over the next few years?

M.C. I think that the most important change is in the mindset of entrepreneurs. The fact that seed funding is now available has encouraged more people to start their own businesses, as they no longer see raising funds as a barrier. A group of people with experience in the industry is very open to sharing their knowledge and investing in new startups.

As a result of this, the components in the ecosystem are gradually falling in place, generating positive results for everyone.

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