Tiger Global Management has slowed its investment into healthcare startups, investing in only 11 startups so far this year. The pace is significantly slower than the firm's investment pace last year. Due to the market volatility, Tiger Global had hinted in July that it would reduce investments across sectors until December. More: - Tiger backed 10 startups in the first quarter of 2021.
- The New York-based firm backed 335 startups across all sectors last year.
- Tiger Global has $65B in assets under management.
- In March earlier this year, the firm announced it had earmarked $1B to back seed-stage startups.
- Six of the healthcare firms Tiger Global invested in were in seed or Series A stages.
- Tiger Global led Wheel's $150M Series C, Viz.ai's $100M Series D, Digiligent Robotics' $30M Series B, Intellect's $10M Series A, and Bttn's $20M Series A funding rounds.
- Other funding rounds Tiger Global participated in include Equip's $59M Series B, Osmind's $40M Series B, and Turquoise Health's $20M Series A financing.
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Tally tripled its valuation to $855M at the latest Series D financing. The credit card payment automation solution raised $80M in new funding led by Sway Ventures. The firm was last valued at $380M at its Andreessen Horowitz-led $50M Series C funding round in June 2019. More: - Andreessen Horowitz participated in the latest funding round, along with existing backers Kleiner Perkins, Shasta Ventures, and Cowboy Ventures.
- In addition, the funding round saw participation from a new investor Menora Mivtachim, an Israeli insurance firm.
- Prior to the current financing, the firm had raked in $92M in total capital.
- The San Francisco-based firm intends to use the proceeds to scale its business and further develop its platform.
- Tally reportedly tripled its annual recurring revenue in the past year.
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Tel Aviv, Israel; and London, U.K.-based venture capital firm 83North Ltd. received $400M in capital commitments towards its eleventh fund from existing limited partners. The firm intends to invest in startups across Israel, Europe, and the U.S. Last year, the firm raised $550M capital for its sixth investment fund. More: - 83North, formerly known as Greylock IL, was an affiliate fund of Greylock Partners, primarily focusing on European and Israeli firms.
- The firm rebranded to 83North in early 2015 when it announced a $200M fund to invest in consumer and technology startups.
- The latest funds bring the company’s assets under management to $2.2B.
- To date, the firm has backed 90 startups, including Wolt, Mirakl, Paddle, and SellerX.
- 83North has successfully exited from 30 startups.
- The firm has had 14 unicorn startups in its portfolio, the most notable of which is Cellonis.
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CSAA Insurance Group’s venture capital arm, Avanta Ventures, announced a new $225M Fund II. The new fund brings the firm’s total assets under management to over $300M. Individual check sizes will range from $1M to $10M. More: - Avanta aims to back early-stage startups from seed to Series B stages.
- The firm may lead deals while also keeping some funds aside for follow-on investments.
- Avanta will primarily invest in startups working in insurtech, fintech, cybersecurity, mobility, AI, and smart home domains.
- The firm debuted with a $75M early-stage focussed fund in 2017.
- Earlier this year, Avanta participated in D2C insurance provider Kin Insurance’s $82M Series D funding round.
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Cloud-native database and analytics application provider SingleStore closed its Series F-2 funding round with $146M in financing. The funding was led by Goldman Sachs, with Prosperity7 Ventures participating in the fundraiser. Incoming funds will be used to drive growth and back strategic initiatives. More: - Crunchbase data shows that the firm has raised $434M in funding to date.
- Insight Partners led the initial $80M Series F round in September 2021 and the $80M Series E round in December 2020.
- Earlier this year, it inked a partnership with analytics solutions provider SAS, which saw SingleStore integrate its offering with SAS Viya.
- In the last 12 months, the San Francisco-based firm expanded its presence into Ireland, Singapore, and Australia.
- In addition, the firm doubled its headcount.
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Online shopping rewards platform ShopBack raised $80M in Series F extension financing. The funding brings the total under the Series F round to $160M. Singapore sovereign wealth fund Temasek Holdings’ division 65 Equity Partners invested in the latest fundraising. More: - The new funding pushes the firm’s valuation into unicorn territory, according to sources close to Bloomberg.
- To date, the Singaporean firm has raised over $310M in funding.
- The initial Series F funding, which closed in June earlier this year, was led by Asia Partners Fund Management.
- ShopBack’s co-founder and CEO Henry Chan said that the firm was close to an IPO debut but didn’t provide an exact timeline.
- Chan added that the firm is evaluating its options for listing in Singapore, Hong Kong, Australia, or New York.
- Temasek, Rakuten, East Ventures, and others invested $75M in the firm in 2020.
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- Jefferies Financial Group Inc. booked $175M in net revenue by liquidating part of its minority stake in private equity firm Oak Hill Capital, per securities filing seen by Bloomberg. The minority stake was picked up by Kuwait-based alternative-asset manager Wafra Inc.
- Abu Dhabi sovereign wealth fund ADQ is in talks to set up a $161M venture fund to back startups based in Oman. The fund is expected to be in partnership with the Oman Information and Communication Technology Group.
- EV charging infrastructure company Loop Global closed its Series A-1 funding round at $40M. Fifth Wall Climate and Agility Ventures co-led the funding with additional backing from Keystone National Group, which extended an additional $20M financing facility.
- Biotech company Alloy Therapeutics raised $42M in Series D financing. 8VC and Mubadala Capital led the funding, with existing investors Presight Capital and Founders Fund.
- Polco, a community engagement platform for government leaders, raked in $14M funding led by Mercury Fund and backed by BAT Ventures and Royal Street Ventures.
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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 and 1972 Fords. | |
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