The Road Ahead
Theme of the Week
This week’s focus was on a recurring topic; the abundance of VC “dry powder”. Benchmark investor, Bill Gurley, highlights counterpoints to the “inevitability” of VCs investing uncalled capital in the current market.
i80 Group Portfolio
Market Insights
Getting into Y Combinator is tougher than it’s ever been (Bloomberg)
Why we’re heading into the “perfect storm” of startup closures. (Hunter Walker)
Global League Tables: Q2 2023 (Pitchbook)
State of Series A’s, VC dry powder, IPO window opens + more (All-In Podcast)
VC Insights
Raising a first-time fund? This is the worst time to do it in 10 years (Term Sheet)
Tips for fundraising in a crowded market (LinkedIn – Maren Bannon)
Surprising data points about the venture capital market (LinkedIn – Tomasz Tunguz)
VCs won’t deploy all their dry powder anytime soon (Twitter – Bill Gurley)
Notable Capital Raises
Pockit, an all-in-one financial services app for UK consumers, lands $10M (TechCrunch)
Mubadala leads funding round for Uber partner Moove (Financial Times)
Fintech Ramp is raising capital at $5.5bn valuation, down 30% (The Information)
B2B inventory marketplace Ghost reappears with $30M Series B to expand outside US (TechCrunch)