Latest news with #venturecapital
Geek Wire
an hour ago
- Business
- Geek Wire
RFID startup Xemelgo lands new funding from Zebra Ventures
GeekWire's startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter, and check out the GeekWire funding tracker and venture capital directory.
Yahoo
2 hours ago
- Business
- Yahoo
Bitcoin bull Tim Draper raises $200 million for new venture fund
One of the world's foremost Bitcoin boosters has drummed up another stash of capital. Tim Draper's investment firm, Draper Associates, has raised $200 million for its eighth fund, according to a Tuesday filing with the Securities and Exchange Commission. The company's website, meanwhile, hints at the fund's launch. 'In 2025, Draper Associates celebrated 40-years of pioneering venture capital and spreading entrepreneurship around the world,' read a page about the firm's history. 'With the launch of Draper Associates Fund 8, the team has its eye on the next 40 years.' A spokesperson for Draper Associates declined to comment. In 2022, the venture capitalist raised almost $124 million for his seventh fund, according to a filing with the SEC. Draper Associates, which specializes in crypto investments, has $2 billion in assets under management, per the firm's website. The firm's latest raise comes amid a crypto boom. The total market capitalization for all cryptocurrencies crossed the $4 trillion mark for the first time in history last week as Congress passed legislation that will regulate stablecoins, or cryptocurrencies pegged to underlying assets like the U.S. dollar. And Bitcoin has repeatedly notched all-time highs over the past six months, surging past $120,000 Bitcoin OG Draper, who is 67 years old, hasn't always been synonymous with crypto. In 1985, he got his start as a VC when he borrowed $6 million to invest in tech, according to his website. He soon developed a knack for investing in what would become some of the world's hottest companies. The roster of startups he's backed includes Skype, Baidu, Hotmail, Tesla, SpaceX, Robinhood, and a host of other successful ventures. In 2014, Draper made one of his first public splashes as a Bitcoin believer when he paid $19 million to buy 30,000 of the cryptocurrency seized in the U.S. government's takedown of the notorious black market site Silk Road. The bet, which came at a time when many had written Bitcoin off as a failure, today stands as one of the shrewdest in history. Those coins are now worth around $3.5 billion. In the following years, Draper became one of the more outspoken cheerleaders for the world's largest cryptocurrency. He predicted in 2018 that Bitcoin would reach $250,000 by 2022 and, in 2023, repeated the same prediction for the end of that year. The cryptocurrency's price is still a far cry from that figure but, based on its recent performance, the idea of a Bitcoin being worth a quarter-of-a-million dollars no longer seems absurd. Draper has also invested in a host of other crypto ventures, including the U.S.'s largest crypto exchange Coinbase, the crypto wallet developer Ledger, and the prediction markets platform Polymarket. This story was originally featured on Sign in to access your portfolio
The Herald
3 hours ago
- Business
- The Herald
Innovate Africa: Lawyer Adrian Dommisse is start-up world's best-kept secret
Adrian Dommisse isn't your typical lawyer. He's a former big firm attorney and investment banker who now runs Dommisse Attorneys, a small, sharp legal firm trusted by South Africa's top start-ups and venture capitalists. He's known for helping founders cut through complex regulations with clear, no-nonsense advice. No jargon. No drama. Just legal solutions that keep businesses moving. Kieno Kammies, founder of Innovate Africa, sat down with Adrian to find out how he helps high-growth companies stay compliant while scaling. Adrian doesn't fight the system. He works within it to get results that make business sense. He understands the pressures founders face and speaks their language. That's why start-ups keep calling. TimesLIVE
Yahoo
18 hours ago
- Business
- Yahoo
Joe McCann Closes Asymmetric Liquid Fund After 'Shifting Away From Liquid Trading'
Joe McCann is winding down Asymmetric's Liquid Alpha Fund after the fund was accused of losing massive value this year and drew sharp criticism online. In a social media post, the crypto investor said that the strategy behind the Liquid Alpha Fund 'clearly is no longer serving our LPs.' He said the fund had been built for volatile markets and had once delivered results, but added that Asymmetric would now be "shifting away from liquid trading strategies" and toward longer-term investments in blockchain infrastructure. The decision comes after unconfirmed social media chatter that the liquid fund was down 78% this year. The move isn't a total surprise, as volatility in the crypto market has decreased significantly in the last twelve months, potentially signaling a more mature digital assets market. Crypto Volatility Index (CVI) is down almost 30%, according to TradingView data. Investor exit Investors in the liquid fund have been offered the option to exit without regard to standard lock-up terms or to roll their capital into a new, illiquid investment structure. 'Our job is to adapt with discipline and build for what's next,' McCann wrote. The firm, he said, consists of multiple investment vehicles, and while the Liquid Alpha Fund struggled, other parts of the business — especially its venture strategy — remain intact. That venture arm will continue to back early-stage blockchain projects. McCann, a former technologist and trader who moved into crypto investing, described the fund's poor performance as a test of "one's resolve' but emphasized that 'the only way forward is through.' Correction (July 23, 20:43 UTC): An earlier version of this story included a link to a post on X, allegedly written by McCann. However, a spokesperson said that the post was fake. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
20 hours ago
- Business
- Forbes
How DESTREE Built A Fashion Brand Funded, Led, And Made By Women
Laetitia Lumbroso and Géraldine Guyot-Arnault, the co-founders of DESTREE From investor boardrooms to factory floors, DESTREE is redefining fashion with an ecosystem that is entirely women-owned and women-run. Historically, the fashion industry has been dominated by male CEOs and investors. However, Laetitia Lumbroso and Géraldine Guyot-Arnault, the co-founders of DESTREE, made a bold and intentional choice to raise capital exclusively from women. Their decision stands in sharp contrast to the broader venture capital landscape, where the gender gap remains staggering. According to PitchBook, in 2023, all-female-founded startups in the U.S. raised just $3.2 billion, a fraction of the $114 billion raised by all-male-founded companies. The imbalance is not new. Research from the Harvard Kennedy School shows that women account for just 11% of investing partners at U.S. VC firms, and nearly 75% of firms have no female investing partner at all. While 13% of venture dollars go to startups with at least one female founder, all-women founding teams receive just 2.4%, a figure that has remained essentially unchanged over the past three decades. Female Invest echoes this, noting that companies founded solely by women still receive less than 3% of total VC investment. The disparity is especially glaring in the fashion industry, where women drive the vast majority of consumer spending yet are rarely in control of the capital or the chief leadership roles that shape the industry. DESTREE's approach wasn't just symbolic; it was strategic. Lumbroso and Guyot-Arnault have created a network of female investors who also act as mentors and advocates. By doing so, they have not only generated global interest in their brand but also increased its visibility. Still, they are also actively challenging the existing power dynamics around who has the authority to fund, expand, and drive the future of the fashion spent 15 years at luxury conglomerate LVMH, where she served as global business unit director for Baby Dior. In her late 30s, she left the corporate world to launch her own business. "I didn't leave with a full plan," she said. "But I knew I had to find the right partner before I found the right product." That partner was Guyot-Arnault, whose architectural and vintage-inspired design aesthetic shaped DESTREE's creative identity. Together, they spent four years laying a solid foundation—refining production, sourcing women-led factories, and launching their hero accessory, the Gunther bag. By 2022, they were ready to scale and made the pivotal decision to fundraise, setting a bold new direction for the company. So, why did they choose only women investors? "Once we started having real fundraising conversations, the difference between speaking with male and female investors became obvious," Lumbroso said. "The women wanted to talk about our vision, our why. The men went straight to numbers." Instead of working with traditional venture capital firms, DESTREE turned to a tight-knit group of 12 high-profile female angel investors, including Gabriela Hearst, Emily Weiss (Founder of Glossier), Miroslava Duma, and Carmen Busquets. The round was co-led by Angelica Cheung of Sequoia Capital China, who is also the founding editor-in-chief of Vogue China. Cheung brought industry insight and became the firm's representative on DESTREE's board. "These women aren't just investors," said Lumbroso. "They're advisors, connectors, and champions. When I needed introductions in the Middle East, I called Mira. When we had sustainability questions, Gabriela connected us to her suppliers." The commitment to build a female-run ecosystem extends across DESTREE's entire supply chain. Every factory the brand works with, whether in Paris for jewelry, Spain for handbags, or Portugal for garments, is led by women. "We're women, creating for women," she said. 'Why not build the whole ecosystem that way?' This approach has had a positive impact on DESTREE's growth. The brand now operates stores in Paris and New York, sells through 80 global retailers, including Harrods and Selfridges, and generates 40% of its revenue from the brand's website. DESTREE Flagship Store - Paris DESTREE's growth and recognition have been driven in part by celebrity attention, without the need for paid promotions. Years ago, a stylist messaged DESTREE on Instagram, claiming to work with Beyoncé. Lumbroso was skeptical but sent bags. Nine months later, Beyoncé was spotted wearing one of them. "We aim to keep all of our VIP and celebrity endorsements organic," said Mariana Ruiz, Head of PR for the USA and LATAM. 'When you see someone wearing DESTREE, it's because they truly love it. For us, it's about building long-term, genuine relationships.' Today, Hollywood celebrities like Reese Witherspoon, Jessica Alba, and Nicky Hilton are often seen wearing the for fundraising advice for female founders, Lumbroso encourages early-stage women to network, make connections, and openly discuss their needs. "Some people you expect help from won't show up," she said. "But others will surprise you. The key is to share your story." Regarding celebrity endorsements: "Be persistent. Don't be afraid of hearing 'no.' And make your product so remarkable that people are eager to wear it." A mother of four, Lumbroso structures her days around intention. "I try to be home for dinner, even if I work again at 10 p.m.," she said. 'When I'm home, I'm home. I'm offline for dinner and bedtime.' She also carves out time for herself, often starting the day with a 6 a.m. run. 'Sports clears my head. That's my time.' As DESTREE expands into new markets across the Middle East, Asia, and the U.S., the brand plans to refocus on its accessories category. "Ready-to-wear is growing," Lumbroso said. 'But bags are the core. They carry our DNA.' Runway shows aren't on the agenda. Instead, the brand will continue to cultivate its niche audience and grow through word of mouth. If she could give one piece of advice to her younger self, Lumbroso would say, "Beware of the sparkle. The right people matter more than the perfect opportunity. Find partners who believe in you and build from there." With a fully female-funded business, a global reach, and Beyoncé's endorsement, DESTREE is redefining what fashion power looks like.
