Forge, the marketplace for trading private company shares formerly known as Equidate, announced that it will be acquiring custodial trust company IRA Services for a purchase price of $55 million. IRA Services is a trust company that provides custodial services for retirement accounts managed by individuals and mid-to-large sized Institutions. Stripped of financial jargon, the […]View More Forge acquires IRA Services to expand offering for private company shares
Solugen, a startup that has set itself up with no less lofty a goal than the decarbonization of a massive chunk of the petrochemical industry, may be the first legitimate multi-million dollar company to start out in a meth lab. When company co-founders Gaurab Chakrabarti and Sean Hunt began hunting for a lab to test […]View More Meet the Texas startup that wants to decarbonize the chemical industry
More than two years into the Trump administration, the long vacant post of U.S. Chief Technology Officer will be filled. Bloomberg first reported that today Trump is elevating Michael Kratsios, current deputy U.S. CTO, to the nation’s top tech position. Prior to his experience within the Trump administration, Kratsios served as chief of staff at […]View More Trump promotes Michael Kratsios to US Chief Technology Officer
This is the Palantir, Airbnb and Flexport backer’s fourth growth-stage venture capital fund.View More 137 Ventures raises $210M to give liquidity to startup employees
Better late than never.
President Donald Trump will sign an executive order to form the American AI Initiative, the White House Office of Science and Technology (WHOST) announced Monday. The order tasks federal agencies to cooperate on advancing research and development in AI, as well as considering legislative frameworks for its governance. As Reuters points out, however, the order does not specify a source of funding for the initiative.
Besides a one-day listening session on AI that the WHOST held in May 2018, the last word the administration gave on AI came from Treasury Secretary Steve Mnuchin, who said in 2017 that the prospect of AI automation threatening jobs was “not even on our radar screen.” Read more…View More Trump will sign an executive order to (finally) focus on AI
Valar Ventures plans to raise $350 million across two new funds, according to a pair of SEC documents filed this morning.View More Peter Thiel’s Valar Ventures targets $350M for new funds
Kirsten Green of Forerunner Ventures, Keith Rabois of Khosla, Alfred Lin of Sequoia and Alex Taussig of Lightspeed are backers of Faire.View More Distinguished VCs back wholesale marketplace Faire with $100M at a $535M valuation
Founders Fund has led the $6 million Series A for the startup, which plans to use the investment to launch a line of travel apparel.View More Summersalt raises $6M for its direct-to-consumer line of eco-friendly swimsuits
Quartet Health, a startup backed with nearly $100 million from GV, Oak HC/FT and more, has quietly lost its COO, CPO and replaced its CEO this month.View More Recent departures hint at turmoil at Quartet Health, a mental health startup backed by GV
Henrique Dubugras and Pedro Franceschi, the co-founders of Brex, have raised $125 million at a $1.1 billion valuation just four months after the startup’s public launch.View More How the 22-year-old founders of Brex built a billion-dollar business in less than 2 years
From its glass-lined offices in San Francisco’s leafy Presidio national park, six-year-old Mithril Capital Management has happily flown under the radar. Now it’s leaving altogether and relocating its team to Austin, a spot that has “enough critical mass of a technical culture, an artisanal culture, an artistic culture, and [is] not necessarily looking to Silicon […]View More Mithril Capital Management, cofounded by Ajay Royan and Peter Thiel, is leaving the Bay Area
In the days leading up to TechCrunch Disrupt SF 2018, The Economist published the cover story, ‘Why Startups Are Leaving Silicon Valley.’ The author outlined reasons why the Valley has “peaked.” Venture capital investors are deploying capital outside the Bay Area more than ever before. High-profile entrepreneurs and investors, Peter Thiel, for example, have left. Rising […]View More VCs say Silicon Valley isn’t the gold mine it used to be