 Global VC funding by month Venture funding for global companies dropped to $28B in July, down 34% over June's total of $42B. Funding has dropped 56% compared to July 2021, when startups raked in $63B. Funding has been steadily declining since the start of the year, with June being the exception. More: - Startups received $34.3B in funding in May, down from $62.4B in January.
- July's funding total is the lowest since Nov. 2020, when funding reached $26.4B.
- Early-stage startups have been the focus of investors since the venture funding dip started.
- However, funding for early-stage startups declined 40% compared to the previous month.
- Early-stage funding in July totaled $9B, less than half of last year's $18.6B.
- Seed-stage funding increased slightly from $2.4B last July to $2.5B this July.
- Late-stage funding is down 60% compared to last year, receiving only $16B this month.
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Investments in renewable energy rose 11% in the first half of the year compared to a year ago, setting a new record. According to BloombergNEF, global investments in renewables totaled $226B in H1, its highest amount. Venture capital and private equity provided most of the financing. More: - Investments in small- and large-scale solar projects rose 33% in H1 to $120B.
- China led the investments in solar with $41B, followed by the U.S. with $7.5B, and Japan with $3.9B.
- Wind projects received $84B in investments in H1, up 16% compared to last year.
- China also led wind investments with $57.8B in H1, more than double its investments in the sector in H1 2021.
- The U.S. had the second largest investment in wind projects at $19.7B, up 9% YoY.
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Andreessen Horowitz has hired Michel Del Buono as its new chief investment officer (CIO), signaling plans to start offering wealth management services. Before a16z, Del Buono served as CIO at Jordan Park Group, overseeing $17.6B for high-net-worth clients. More: - According to people familiar with the matter, the new business would offer a range of wealth-management services to a16z partners and the executives of its portfolio companies.
- A spokeswoman for a16z confirmed the VC firm has hired Del Buono but declined to comment further on the new business.
- A16z joins Iconiq Capital and Sequoia Capital in offering money management services.
- Sequoia’s wealth management business, called Sequoia Heritage, was launched in 2010 with $550M from partners and outside capital.
- The unit currently manages $16.4B.
- Iconiq manages over $80B and counts Mark Zuckerberg, Sheryl Sandberg, and Jack Dorsey as some of its clients.
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Flashpoint Venture Capital closed its third fund with $102M in capital commitments. The British firm will invest in Series A-stage tech startups, primarily in the B2B software industry, across Emerging Europe and Israel. Hungary’s Széchenyi Funds is the first institutional limited partner in the fund with a capital commitment of $20M. More: - The fund closed higher than its initial target of $100M.
- Individual initial check sizes will range from $1M to $4M.
- Flashpoint may deploy up to $15M in portfolio startups with the highest potential.
- Flashpoint VC III fund brings the firm’s total assets under management to $450M.
- The firm now has six venture funds, including a venture debt fund and a secondary fund.
- To date, the firm has backed 55 startups, most notably Guesty, Chili Piper, and Office RnD.
- Shazam and Chess.com are amongst its 11 successful exits.
- Apple acquired the former, while a consortium led by PokerStars founders and General Atlantic acquired the latter.
- Széchenyi is reportedly the most active investor in the domestic capital market, with over 80 investments to date and $400M in assets under management.
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San Francisco, Calif.-based food tech startup Afresh secured $115M in Series B funding. The company provides an AI-powered platform to grocery stores, which helps them maintain fresh stock and reduce food waste. Spark Capital led the recent financing. More: - To date, the firm has secured $148M in total funding.
- New investors Insight Partners, VMG Partners, and Bright Pixel Capital joined the fundraising along with existing backers Maersk Growth, High Sage, and Innovation Endeavors.
- The company tripled its customer base in 2021 and expects to serve 10% of U.S. grocery stories by the end of the year.
- It plans to incorporate its software in 2,300 Albertsons stores by year-end.
- Afresh will deploy the proceeds from the funding to scale its business, grow its team, and expand into Europe.
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Talon Cyber Security has raised a $100M Series A funding round led by Evolution Equity Partners. The financing includes the conversion of $17M in Simple Agreement for Future Equity (SAFE) investments into A round shares. This brings Talon’s total amount raised to over $126M. Evolution Equity Partners’ founder and managing partner Richard Seewald will join Talon’s board of directors. More: - Talon is based in Israel and provides cybersecurity solutions for companies’ distributed workforce.
- The TalonWork browser enables secure access to corporate applications and data on any device and operating system.
- Talon was founded in 2021 by Ben-Noon and Ohad Bobrov.
- Other investors in the round include Ballistic Ventures, CrowdStrike’s Falcon Fund, Merlin Ventures, and SYN Ventures.
- Previous investors in Talon include CrowdStrike co-founder and CEO George Kurtz, Lightspeed Venture Partners, Sorenson Ventures, and Team8.
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- Chinese venture firms Shunwei Capital, Source Code Capital, and Vision Plus Capital are setting up offices in Singapore to expand their presence and invest in South Asian startups.
- SingTel, a Singaporean telecom operator, added $100M to its Innov8 venture capital fund. To date, SingTel has provided $350M in capital to Innov8. The VC arm will focus on investing in telecom, AI, cybersecurity, and sustainability startups across Southeast Asia, China, Australia, Israel, and the U.S.
- The Valley National Bancorp invested $25M in a new venture fund launched by The Garage. The new fund will back early-stage startups across fintech, AI, and cybersecurity sectors.
- Ready-to-eat food delivery startup Everytable closed its Series C funding round with $55M in financing. Creadev, Desert Bloom Food Ventures, and Gullspång Re:food led the fundraiser.
- Argentinian payments infrastructure startup Geopagos raised $35M financing led by Riverwood Capital. Endeavor Catalyst backed the funding.
- SaaS cybersecurity management solution provider Axio secured $23M from its ISTARI-led Series B funding round. Existing backers Distributed Ventures and IA Capital joined the funding.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. | | | | 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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