Google, Chevron, and Sumitomo Corporation backed nuclear fusion startup TAE Technologies' latest $250M fundraising. The company intends to use the proceeds from the Series G-2 financing round to develop its sixth-generation fusion research reactor, called Copernicus, in California. TAE aims to use the facility to deliver commercial power by 2030. More: - With the new funding, TAE's total funding secured to date now totals $1.2B.
- In contrast to fusing the hydrogen isotopes deuterium and tritium, the business is employing boron in their hydrogen proton fusion method, which TAE believes will give a safer and non-radioactive source of energy.
- Other participants in the funding round include Reimagined Ventures and TIFF Investment Management.
- Chevron backed the investment through its subsidiary Technology Ventures.
- The firm has also backed another fusion startup called Zap Energy.
Zoom out: - Per the Fusion Industry Association, private fusion startups have raked in $2.8B over the past 12 months.
- To date, the sector has received $4.8B in funding.
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B Capital Group closed its first early-stage focused venture fund, dubbed Ascent Fund II, with $250M in capital commitments. The fund is the firm's first fund that is open to outside capital. Facebook co-founder Eduardo Saverin is a managing partner at B Capital, a venture capital firm that largely focuses on late-stage investments. More: - With the recent funding, B Capital now has over $6.5B worth of assets under management, half of which has been deployed in the U.S., with the other half mostly invested across Asia.
- B Capital's partner Howard Morgan is confident about investing in early-stage startups despite the venture funding market contracting by 23% this quarter.
- He added, "The early stage is pretty much immune to the market cycle."
- The firm is looking to invest up to $2M in the seed stage and between $6M to $8M in Series A-stage businesses.
- Early-stage investments can benefit from further follow-on investments from B Capital's other large funds.
- With the funds gathered so far, B Capital has already backed startups working on brain-computer interfaces, online therapy, robotics, and industrial surface polishing.
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Kayne Anderson Capital Advisors' growth equity arm Kayne Partners closed its fifth equity fund with over $600M in capital, the firm's largest growth capital fundraise to date. The addition of the new Fund V brings the firm's total assets under management to $1.2B. The firm is looking to invest in middle market companies across the supply chain and logistics, telecommunications, automation, fintech, healthcare IT, and infrastructure domains. More: - Kayne has already made eight investments from the new fund in enterprise software and technology service firms.
- To date, the firm has invested in 50 companies, with the total invested capital topping $862M.
- The firm also launched its growth credit platform, which will provide startups with flexible debt offerings to sustain growth.
- The parent company, Kayne Anderson Capital Advisors, oversees investments in the real estate, credit, energy, and renewables sectors totaling more than $34B.
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German venture firm AM Ventures closed its early-stage fund with $100M in capital. The firm intends to back startups working to advance industrial and commercial applications of 3D printing with the second fund. Several family offices, asset managers, enterprises, and existing portfolio companies' founders backed the current fund as limited partners. More: - The firm has 18 companies in its portfolio, including Headmade Materials, LightForce Orthodontics, and Conflux Technology.
- Portfolio company Additive Drives is using additive manufacturing technology to produce 3D printed electric motors.
- Another portfolio company Spectroplase is leveraging 3D printing technology for healthcare applications.
- AM led a $9.5M funding round into ultra-high resolution 3D printing company Scrona.
- The startup's technology can aid in manufacturing semiconductors and displays.
- The firm last raised $15M for its first fund.
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Halborn, a blockchain security firm, has raised $90M in Series A funding at an undisclosed valuation, per Bloomberg. The funding round was led by Summit Partners, the firm's first-ever investment into a blockchain firm. More: - The Miami-based firm provides penetration testing, contract audits, and automation services to blockchain and DeFi organizations, most notable of which are Coinbase, Solana, and Avalanche.
- In addition, the firm also provides cybersecurity advisory services to Amazon, BNY Mellon, and Nike, among its list of clients, which also includes venture firms, family offices, enterprises, and banks.
- Participants in the funding include Castle Island Ventures, Digital Currency Group, and Brevan Howard.
- Summit Partners managing director Matthew Hamilton is confident about the company's prospects, as he expects the firm's services to be in demand as the industry matures.
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Social and live commerce platform Flip secured $60M in Series B funding, which brings its total funds raised to date to $95M. WestCap led the funding round, with backing from existing investors Mubadala Capital and Streamlined Ventures. The funding round increased Flip’s valuation to $500M. More: - Flip’s platform has a product catalog that includes 500 brands, namely Olaplex, Supergoop, Youth to the People, Honest Beauty, and Tata Harper.
- Since the beginning of 2022, Flip’s platform has witnessed a 500% increase in users and a 600% increase in transactions.
- Users have the ability to earn money if other users decide to buy the same goods after watching their 60-second reviews.
- The company intends to use the proceeds to grow its platform further, launch a third-party marketplace, and construct its second warehouse in the U.S., which will help provide two-day delivery options for 80% of the region.
- The company is on track to add three more warehouses before Q2 2023.
Zoom out: - The social e-commerce market is forecasted to be worth $1.2T by 2025, according to a report by Accenture.
- The market is reportedly growing three times faster than traditional e-commerce.
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- Venture capital investments into Saudi Arabian startups in the first half of 2022 topped $584M, 244% higher than the same period last year and more than the total amount invested over the entire duration of 2021.
- Clinical stage biotechnology company Frontera Therapeutics closed its Series B funding round with $160M in financing. Boyu Capital, Sequoia China, OrbiMed, Creacion Ventures, and other investors provided the funding.
- Sweat Equity Partners led a $26M Series B funding round into comprehensive lifestyle service provider Spruce, bringing its total funds raised to date to $40M. The funding was backed by SoftBank Corp, Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures.
- Spectrum Medical Group entered the unicorn club with a $1.2B (£1B) valuation at its latest undisclosed fundraising led by CVC Capital Partners.
- Mayfair Equity Partners had hired investment bankers to explore the sale of portfolio company Nasstar. The private equity firm is targeting a $601M (£500M) price for the sale of the British cloud service business.
- FlexGen Power Systems, a software provider for energy storage solutions, closed its Vitol-led Series C funding round with $100M in capital.
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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. | |
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