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500 Startups raises a $44.1 mln second fundFund is a 50% boost from firm’s first fund, but it came in under its target
500 Startups raises $44.1 mln second fund500 Startups said it closed a $44.1 million second fund that will focus on backing seed and accelerator companies. The new fund is a 50% boost from the firm’s $29.4 million first fund, but came in short of its initial $50 million target. Founding Partner Dave McClure said he always considered the target aggressive and stressed the increase from his first fund. The firm will invest about 75% of its money domestically and 25% abroad.
- Founder Collective and Venrock back Burner
Burner said Thursday that it has raised $2 million in funding. Founder Collective and Venrock led the round with participation from 500 Startups, David Cohen and TenOneTen. As a result of this funding, David Frankel of Founder Collective and Marissa Campise of Venrock will join Burner's board. Burner is an app designed to give consumers greater control of their personal data.
- Digital gift card platform Gyft nets $5 mln in Series A funds
San Francisco-based Gyft said Wednesday that it has secured $5 million in Series A funding. Investors included A-Grade Investments, Social+Capital Partnership and Karlin Ventures. Gyft, which was seeded by Google Ventures, Founder Collective and 500 Startups, is a digital gift card platform for consumers and retailers.
- Hansch joins MEST as incubator MD
MEST, which provides training, investment and incubation to high technology entrepreneurs in Ghana, has appointed Neal Hansch as managing director of the MEST Incubator. He joins MEST with over fifteen years experience in venture capital, technology operations and investment banking. Most recently, he was a general partner with Rustic Canyon Partners, an early stage focused investment fund with $500 million under management.
- Dashboard: Deals, IPOs, M&A Dip In July, As Fundraising Doubles
A quick look at how the volume of deals, fundraising, IPOs and M&A changed from June to July
Dashboard: Deals, IPOs, M&A Dip In July, As Fundraising DoublesA quick look at how the volume of deals, fundraising, IPOs and M&A changed from June to July
peHUB Second Opinion 8.28In Second Opinion we have news about how you can bet on who will be Microsoft's next CEO, chatter that the Fed could put tapering on hold, Putin's poor sense of humor, Twitter's latest purchase and lots more.
- SunBridge Global Ventures Backs WHILL
Tokyo-based SunBridge Global Ventures has invested an undisclosed sum in WHILL. Itochu Technology Ventures, 500 Startups and Wingle Co. have also participated in the round. No financial terms were disclosed. Based in Menlo Park, Calif., WHILL is a provider of wheelchairs.
- Photo App PicCollage Closes $2.3 Mln in Seed Funding
PicCollage said Wednesday that it has raised $2.3 million in seed funding. Investors included 500 Startups, Floodgate Fund, Freestyle Capital, Quest Venture Partners, Sand Hill Angels and XG Ventures. Headquartered in San Francisco, Calif., PicCollage is a photo app.