Dear Inside Community, May is here, which means Meet Our Fund 3 is only a few weeks away. This is the latest installment in our most popular event series where some of the most dynamic venture funds in the industry reverse-pitch themselves to thousands of founders. Register today. We want you to have a free, front-row seat to this virtual event. This is your chance to pose questions directly to investors. Understand what they look for in portfolio companies and how they distinguish themselves when they invest. Don’t miss out when MOF3 goes live on May 24 and 25. —The Inside Team | |  Karan | |
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NYC-based life sciences investment firm Catalio Capital Management LP closed its third fund at $381M. The oversubscribed fund closed higher than its initial target of $300M. Breakthrough biomedical technology companies across all growth stages are the primary target for investments through the new fund. More: - Catalio, which spun out of Camden Partners in 2020, currently manages over $1B in assets across a portfolio spanning 45 companies.
- The current fund is the firm’s largest yet, having previously raised $100M for its Nexus Fund II and $15M for its debut fund.
- Catalio had successful exits from five companies that went public last year, including Recursion Pharmaceuticals, Compass Pathways, and ATAI Life Sciences.
- EXACT Sciences acquired Catalio portfolio company Thrive Earlier Detection for $2.15B in Jan. 2021.
- Another portfolio company LabCorp was acquired for $500M in Feb. 2022 by Personal Genome Diagnostics.
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HOF Capital announced its second institutional fund with $300M in commitments. The fund will focus on pre-seed to Series A stage investments across fintech, deep learning, computational biology, immersive computing, and web3 companies. With the new fund, the company will back high-potential companies with follow-on investments until the pre-IPO stages. HOF’s assets under management total $1.2B. More: - Epic Games, Terra, and Dapper Labs are its most notable portfolio investments.
- The firm has already invested in no-code fintech platform HitPay, Web3 app Jambo, digital health app Reframe, rewards credit card Ghost Financial, and cryptocurrency startup Trace Finance.
- The firm did not disclose the limited partners who backed the current fund.
- HOF has a global investor base consisting of 240 enterprises and entrepreneurs.
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Point secured $115M in Series C financing led by WestCap. The company partners with institutional investors to provide equity financing to homeowners in return for a share of the future value of their homes. Incoming funds will help scale the platform, launch new products, hire employees, and expand its national reach. More: - On average, Point invests $100,000 in each home or 15%-20% of the property's worth.
- The homeowner is not obligated to return the investment for 30 years.
- Point has invested in over 5,000 homes since its founding and currently operates in 16 states, with plans to enter 11 more states by the end of the year.
- The company claims to have received $1B in capital commitments last year from real estate and mortgage-backed securities investors.
- New investors Deer Park Road Management, The Palisades Group, and Alpaca VC backed the funding along with existing participants, including Andreessen Horowitz, Ribbit Capital, DAG Ventures, and others.
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Oakland, California-based Teleport secured $110M in a Series C funding round, valuing the company at $1.1B. The firm provides a management platform to provide secure remote access to critical infrastructure. Bessemer Venture Partners led the financing with participation from Kleiner Perkins, Insight Partners, and S28 Capital. More: - Teleport has raised $169M in total funding to date.
- The company has since reported tripling its revenue and doubling its clients.
- Incoming funds will be used to accelerate product development and double its workforce.
- Prominent companies like Elastic, VMware, DoorDash, and others use Teleport’s access management platform.
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 A message from MAGIC MIND What was the best day you had recently at work? We’re willing to bet it involved a big chunk of time free from meetings and distractions where you were able to get into a deep flow-state and do impactful, creative work. Magic Mind is a 2oz shot with 12 active ingredients all clinically proven to get you into that creative flow-state more often. It exists to help creators do more and stress less. Some people (alright, those people work at Magic Mind) have said "if athletes have Gatorade, creators now have 'Creatorade' with Magic Mind". That’s why entrepreneurs, creatives, executives, and everyone in between rely on Magic Mind to enhance their morning ritual and get more done. Oh, and it tastes delicious. Try Magic Mind today, 100% risk free (we’ll refund your first purchase no questions asked if it doesn’t work for you). Enter exclusive code INSIDE15 for 15% off your purchase, and find your flow-state today! Claim Your Discount
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Lithuania-based account-to-account payment facilitator Kevin raised $65M in Series A financing. Eurazeo joined existing investors OTB Ventures, Speedinvest, OpenOcean, and Global Paytech Venture in the Accel-led financing round. The firm will use the proceeds to fuel international expansion, double its workforce by 2023, and boost R&D efforts for new products. More: - Kevin’s infrastructure streamlines the payment process and helps cut costs by removing the intermediaries in the process.
- Just six months ago, the company had secured $10M in seed financing.
- The firm has raised $77M in total including the current funding round.
- Kevin has integrated with 6,000 merchants across 12 European markets and is on track to integrate with 35% of European point of sale terminals by year-end.
- It aims to have 85% coverage by the end of 2023.
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Game development backend service platform AccelByte raised $60M in a SoftBank Vision Fund 2 led Series B funding round. Other funding round participants include Sony Interactive Entertainment and existing backers Galaxy Interactive and NetEase. The company intends to use the proceeds from the funding to make enhancements to its platform with the aim to run AAA-quality live service games. More: - AccelByte’s platform helps game creators scale and operate real-time games.
- The firm’s CEO, Junaili Lie, previously led the backend engineering team at Epic Games.
- The company has accumulated $70M in total capital, including a $10M Series A Galaxy Interactive-led fundraise in Aug. 2021.
- Since the last funding, the company reported a three-fold increase in its customer base with the current count totaling 30.
- Prominent clients include Dreamhaven, 1047 Games, KRAFTON, Remedy Entertainment, Remedy Entertainment, and others.
- Its platform supports cross-play gaming across multiple platforms, including PC, Xbox, PlayStation, Nintendo, iOS, and Android.
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Quick Hits - SeedInvest launches a pitch competition for historically underrepresented founders. Over $40,000 in prizes. Pitch to Baron Davis and Jesse Draper. Learn more.*
- The Home Depot launched its venture capital arm with a $150M inaugural fund. With the fund, the firm will invest in early-stage startups that are developing new technologies to improve customer experience and the home renovation sector.
- Truist Financial Corporation acquired savings gamification platform Long Game to cater to young entrepreneurial talent. Financial terms were not disclosed. Vestigo Ventures, Franklin Templeton, Thrive Capital, and Collaborative Fund are existing investors of Long Game, which has raised $20M in funding to date.
- Data observability platform Edge Delta raised $63M from a Series B financing led by Quiet Capital with participation from BAM Elevate, Kin Ventures, Menlo Ventures, among others. The Seattle-based company leverages federated machine learning to analyze data.
- Institutional Venture Partners (IVP), with backing from Tiger Global Management, Unusual Ventures, and BIG Labs, led a $60M Series B funding round into API security and observability company Traceable AI. The firm received a $450M valuation at the recent funding.
- German medical company Tubulis secured $63M (€60M) in Series B financing led by Andera Partners. The firm is developing antibody-drug conjugates (ADCs) for the treatment of solid tumors.
- Czech Republic-based B2B logistics platform DoDo Group received $63M (€60M) in Series B financing. EC Investments and J&T Capital led the funding with participation from Rockaway Capital.
- B2B businesses are switching to e-commerce. Now, it’s your turn. Learn three persuasive approaches that communicate the value of digital to decision-makers.*
*This is sponsored content.
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Upcoming Events: - May 05 - [Live Webinar] Women in Sales: How to Build Your Personal Brand to Drive More Sales presented by Introhive (Register Here) *
- May 10 - Giving Voice and Intelligence to Digital Characters with David Colleen (SapientX) (Register Here)
- May 11 - Building Last-Mile Startups: Underground Delivery with Garrett McCurrash (Pipedream Labs) (Register Here)
- May 12 - Making Metaverse Dating a Reality (Register Here)
- May 18 - Need To Know NoCoder: Jatin Arora (Utilize) (Register Here)
- May 19 - Understanding Fractionalization (Register Here)
- May 24 - Meet Our Fund 3 (Register Here)
- May 31 - Ethereum Merge with Anthony Donofrio (Ethereum) (Register Here)
- June 01 - Selling Consumer Goods in Web3 (Register Here)
- June 09 - Empowering Content Creators with No Code (Register Here)
- June 22 - The Future of Open-Source Software Security (Register Here)
- June 30 - HR Strategies to Retain Remote Employees (Register Here)
*This is a sponsored listing.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
Connecteam is the all-In-One Employee Management Software. Time Tracking, Shift Scheduling, Communication, and Much More. | |
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