The 4-year-old VC firm is investing upwards of $200 million a year in tech startups. Has anyone noticed? The firm has both an unorthodox model of fundraising and dealmaking.
Like many people, I followed the story of Renaud Laplanche's rise and spectacular fall as the founder and CEO of LendingClub, the pioneering online lender. He was a media darling until LendingClub's stock collapsed in 2016 in a scandal that was, reportedly, largely attributable to his actions.
The Ohio company, which specializes in helping dealers buy and sell parts, as well as providing service information, on Thursday said it has an agreement to buy Bluegrasscoms, a Newbury, England, company that provides many of the same services. "Bluegrasscoms extends the OEC footprint and will help us grow both in the depth and breadth of our offerings with new and existing customers," the company said in a statement.
Seva , a New York City startup, that wants to help customers find content wherever it lives across SaaS products, announced a $2.4 million seed round today. Avalon Ventures led the round with participation from Studio VC and Datadog founder and CEO Olivier Pomel.
Entrepreneurs may not want to think of their companies as "products," but the truth is, the vast majority of successful startups end in acquisitions. In 2017, mergers and acquisitions accounted for 93 percent of the 809 venture capital-backed exits, yielding a total of $45.6 billion in disclosed exit value, according to the National Venture Capitalists Association's 2018 NVCA Yearbook .
DCP Midstream today announced their partnership with Plug and Play , a Silicon Valley venture capital firm and innovation platform. DCP Midstream is a Fortune 500 company and one of the largest producers of NGLs and one of the largest natural gas processing companies in the U.S. DCP Midstream joins ExxonMobil, Siemens, BASF, and over 250 other corporations from around the globe looking to engage with startups to facilitate innovation in their organizations.
The funding was led by Anterra Capital, with participation from Rabo Frontier Ventures , Coventure, Social Leverage, FJ Labs, Greenhouse Capital, Moonshots Capital and Tribeca Angels. Addressing the lack of proper short-term access to financing and transparency within the farming industry supply chain, ProducePay has created the first ever means of securitizing perishable produce as a financial asset through the use of technology.
Microsoft continues to bolster its investment in open source as it participates in a new funding round which raised $35 million for WhiteSource, an open source security management company. M12, the corporate venture capital subsidiary of Microsoft, is among the investors along with 83North, which backed the series C funding round led by Susquehanna Growth Equity.
The Massachusetts Democrat, who is rumored to be weighing a run for the White House in 2020, is pressing the financial firms behind the decision to liquidate Toys R Us to contribute to a fund for affected employees. She also wants the companies -- which include Angelo Gordon & Co., Franklin Mutual Advisors, Highland Capital, Oaktree Capital, Solus Alternative Asset Management and Vornado Realty Trust -- to explain why they pushed to liquidate the toy seller rather than reorganize under bankruptcy protection.