The Road Ahead
Theme of the Week
Scarcity of equity funding for startups has driven declines in M&A within the venture ecosystem.
Given the bearish near-term market view on exits, several leading venture capitalists are establishing accelerators to provide additional impetus to the industry.
Market Insights
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank (JPMorgan Chase & Co.)
Global fintech 2023: Reimaging the future of finance (QED & BCG)
Updated plot of bank failures (Twitter - Mike Bostock)
Editorials
The dangers of letting AI loose on finance (Financial Times)
Accelerators see a spike in interest as VCs look to bulk up seed stage investing (Fortune)
Tighter bank lending opens the way for private debt firms (PitchBook)
Trouble ahead for European fintech valuations (PitchBook)
VC Fundraises
Autotech Ventures’ new $230M mobility fund adds fintech, circular economy to its investment strategy (TechCrunch)
Mayfield raises $955 million across two new funds dedicated to early stage investing (Business Wire)
For Founders
The Midas List (Forbes)
Time between primary rounds is getting a lot longer (LinkedIn – Peter Walker)
The Mint, started by Better Tomorrow Ventures, wants to be the accelerator fintech needs (TechCrunch)
VC Insights
Don’t discount interest rates (Substack – Nnamdi Iregbulem)
Putting the tech back in proptech (Medium – Lightspeed)
Notable Capital Raises
Greenwood acquires Kinly to bring together two of the largest black-owned fintechs (Yahoo)
This new banking app wants to help with the financial woes of retirement (TechCrunch)
Petal raises $35M, spins off data unit ‘to bring credit scores into the 21st century’ (TechCrunch)
EasyKnock acquires leading homebuying solution Ribbon Home (Businesswire)