sequoia capital

In venture capital, it’s still the age of the unicorn

Howie Xu Contributor Howie Xu is the vice president of artificial intelligence and machine learning at Zscaler. He previously co-founded TrustPath and served as an entrepreneur in residence at Greylock. This month marks the 5-year anniversary of Aileen Lee’s landmark article, “Welcome To The Unicorn Club”. At the time, the piece defined a new breed of startup — the $1 billion privately held company. When Lee did her first count, there were 39 “unicorns”; an improbable, but not impossible number.. Today, the once-scarce unicorn has become a global herd with 376 companies on the roster and counting. But the proliferation of unicorns begs raises certain questions. Is this new breed of unicorn artificially created? Could these magical companies see their valuations slip and fall out of the her...

Mexican venture firm ALL VP has a $73 million first close on its latest fund

Buoyed by international attention from U.S. and Chinese investors and technology companies, new financing keeps flowing into the coffers of Latin American venture capital firms. One day after the Brazilian-based pan-Latin American announced the close of its $150 million latest fund comes word from our sources that ALL VP, the Mexico City-based, early stage technology investor, has held a first close of $73 million for its latest investment vehicle. The firm launched its first $6 million investment vehicle in 2012, according to CrunchBase, just as Mexico’s former President Enrique Peña Nieto was coming to power with a pro-business platform. One which emphasized technology development as part of its strategy for encouraging economic growth. ALL VP founding partner Fernando Lelo de Larrea sai...

20 startups take center stage at Berkeley SkyDeck’s demo day

The largest-ever Berkeley SkyDeck demo day kicked off with a high-energy performance from the Cal marching band, setting the tone for an afternoon of presentations from none other than Berkeley faculty and students-turned-entrepreneurs. Launched in 2012 as a modest accelerator for student-run businesses, SkyDeck has flourished since its inception. To date, the program has mentored 300 startups, which have gone on to raise $800 million via 27 funding rounds and 10 acquisition deals. Earlier this year, it raised a $24 million venture fund so it could finally seed participating startups with $100,000 in exchange for 5 percent equity. Today’s cohort is only the second to receive an investment from SkyDeck as part of the accelerator. To participate in SkyDeck’s accelerator program, startups mus...

Sequoia leads $10M round for home improvement negotiator Setter

You probably don’t know how much it should cost to get your home’s windows washed, yard landscaped or countertops replaced. But Setter does. The startup pairs you with a home improvement concierge familiar with all the vendors, prices and common screwups that plague these jobs. Setter finds the best contractors across handiwork, plumbing, electrical, carpentry and more. It researches options, negotiates a bulk rate and, with its added markup, you pay a competitive price with none of the hassle. One of the most reliable startup investing strategies is looking at where people spend a ton of money but hate the experience. That makes home improvement a prime target for disruption, and attracted a $10 million Series A round for Setter co-led by Sequoia Capital and NFX. “The main issue is that c...

Four reasons why you should attend TC Sessions AR/VR 2018

On October 18 — just one week away — some of the most brilliant and innovative minds in reality creation will gather at UCLA’s Royce Hall in Los Angeles to attend TC Sessions AR/VR 2018. Whether you’re an early start-up founder, an investor, a developer or a student, if you’re focused on AR/VR, you don’t want to miss this day-long intensive that goes deep into the current and future state of augmented and virtual realities. Need a bit more convincing? Here are four reasons why you should buy a ticket and attend TC Sessions AR/VR 2018. 1. Deep-dive discussions We have an outstanding roster of speakers ready to take the stage and go deep on both the opportunities and the challenges facing the AR/VR industry now and in the future. Here are just some of the people and topics we have on tap. Ni...

Bots replacing office workers drive big valuations

Joanna Glasner Contributor More posts by this contributor Getting personal: Funding rises for software-driven tastemakers The alumni of these universities raised the most VC in the past year A lot of people still get paid to sit in offices and do repetitive tasks. In recent years, however, employers have been pushing harder to find ways to outsource that work to machines. Venture and growth investors are doing a lot to speed up the rise of these worker-bots. So far this year, they’ve poured hundreds of millions into developers of robotic process automation technology, the term to describe software used for performing a series of tasks previously carried out by humans. Process automation funding activity spiked last week with a $225 million Series C round for one of the category leaders, Ne...

VCs say Silicon Valley isn’t the gold mine it used to be

In the days leading up to TechCrunch Disrupt SF 2018, The Economist published the cover story, ‘Why Startups Are Leaving Silicon Valley.’ The author outlined reasons why the Valley has “peaked.” Venture capital investors are deploying capital outside the Bay Area more than ever before. High-profile entrepreneurs and investors, Peter Thiel, for example, have left. Rising rents are making it impossible for new blood to make a living, let alone build businesses. And according to a recent survey, 46 percent of Bay Area residents want to get the hell out, an increase from 34 percent two years ago. Needless to say, the future of Silicon Valley was top of mind on stage at Disrupt. “It’s hard to make a difference in San Francisco as a single entrepreneur,” said J.D. Vance, the author of ‘Hillbilly...

Cryptocurrency and blockchain bring Asia funds to the forefront of U.S. tech

Since early 2017, there’s been a new trend in the U.S. where a number of Asian funds have been actively involved in early-stage crypto investing. Many folks in traditional tech have not heard of them before, but these funds will only be growing more important as cryptocurrency and blockchain solidify their position in the American tech industry. Funds with Asian money, primarily from China, have been in Silicon Valley for a long time. However, in the past, they were rarely heard or seen in the press, mostly because their assets under management (AUM) and investment check sizes were smaller in size and fewer in frequency than their American counterparts on average. These funds were often only found investing in later-stage rounds, since they weren’t able to compete against the top venture f...

Sino-US investment firms are targeting over $4 billion for new funds launched this year

As limited partners increasingly demand greater exposure to emerging market opportunities, venture capital firms with a focus on Asia are bulking up their funds and chasing deals in an increasingly competitive race to own stakes in the next generation of local startups with global aspirations. Over the last year, firms, including DCM Ventures, GGV Capital, Matrix Partners China and Qiming Venture Partners, have all significantly increased the targets for their new funds. If each firm hits their targets, there’s roughly $4.4 billion in new capital that could be flooding into an already scorching market for investment into Chinese startups, according to SEC filings. The largest of these new funds, by far, is GGV Capital, which has registered a new $1.8 billion fund with the Securities and Ex...

Eventbrite is reportedly going public in the second half of this year

Eventbrite, the 12-year-old, San Francisco-based event-planning company, has filed confidentially for an IPO and plans to go public later this year, according to a new report in the WSJ. The company’s lead underwriters are Goldman Sachs and JPMorgan Chase & Co., it says. The offering must seem a long time in coming for Eventbrite founders Julia Hartz; her husband, Kevin Hartz; and the company’s technical cofounder and CTO, Renaud Visage. Originally created for individuals wanting to host smaller events and private parties, but who faced few few options aside creating Excel spreadsheets — remember, the ticketing world formerly revolved around stadiums and major sporting events —  Eventbrite has grown steadily over the years into a corporate giant. It now powers ticketing for millions of...

Old VC firms hold entrenched position in fundraising despite fresh entrants

On Tuesday, news broke that Sequoia Capital has closed $6 billion out of what could end up being an $8 billion growth-stage fund with global scope. Crunchbase News covered that particular financing, but also found that Sequoia Capital is potentially raising billions more across funds focused on China, the U.S. and India, according to press reports and regulatory filings we examined. Apart from the sheer size of its third “Global Growth” investment vehicle, there isn’t anything surprising about an old stalwart like Sequoia raising a big-dollar fund. But the fact that it’s unsurprising points to an important trend in venture capital fundraising. And it’s that trend we’ll explore today. New money versus old money Here’s what we found: Older firms raise bigger funds, and appear to account for ...

The five best reasons you don’t want to miss Disrupt SF this September

TechCrunch’s Disrupt SF (Sept. 5-7) is our most ambitious event ever. And if we’re sure of one thing, it’s that people in the startup scene will extract more insights and inspiration from this Disrupt than any before. Here’s why… More, better programming. For the first time ever at Disrupt, we have two stages, plus two additional off-stage “Q&A” areas where Disrupt attendees can ask questions directly to speakers. Sequoia’s Doug Leone, Bumble’s Whitney Wolfe Herd, Sinovation’s Dr. Kai-Fu Lee,  23andMe’s Anne Wojcicki are just a few of the stellar interviews TechCrunch editors will conduct on stage. Disrupt will be live streamed, but only Disrupt pass holders will be able to catch sessions they missed via video-on-demand. Precision-guided networking. We spent years refining CrunchMatch,...

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