Tiger Global Management has enlisted the help of Morgan Stanley's wealth management arm to raise capital for the firm's next venture fund. The Chase Colemen-founded venture firm is targeting $6B worth of capital commitments for its venture fund, dubbed Tiger Global Private Investment Partners 16. More: - Morgan Stanley is reportedly pitching the new venture fund to its most esteemed clients.
- PIP 16 will invest primarily in enterprise and Indian startups over the next two-year period.
- This would be Tiger Global's third largest fund if it is able to raise $6B successfully.
- The predecessor fund, PIP 15, was Tiger Global's largest venture fund to date and closed at $12.7B in Q1 earlier this year.
- JPMorgan Chase's wealth management arm had helped raise $1.9B for the fund.
Zoom out: - Fundraising might be difficult as investor interest in the asset class has diminished, more so with the recent fallout of FTX.
- Tiger Global had reportedly invested $38M into FTX and its affiliates.
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Thirty-nine debut fund vehicles were closed in Europe during the first three quarters of this year, according to Pitchbook. The fund count will likely be the lowest since 2015 at year-end. Fundraising has been challenging for first-time venture funds in Europe as limited partners prefer established firms with proven track records. More: - However, first-time funds focussing on cleantech and mobility sectors have been able to raise significant funding with “often less competition.”
- Automaker Stellantis and the European Circular Bioeconomy Fund secured €300M each for their respective funds.
- The cumulative value of first-time funds closed so far this year is €2.6B ($2.7B), almost half of the €5.1B worth of funds closed last year.
- 2019 holds the record for the highest capital raised by first-time funds, with €6.4B raised from 104 rounds.
- The share of first-time funds reaching a final close in Europe decreased from 28.1% in 2021 to 26.9% in the first nine months of this year.
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Menlo Park, California-based venture capital firm SE Ventures is set to announce its second fund. The firm is targeting a final close of $520M (€500M). The fund aims to invest in early-stage climate tech, predictive maintenance, and IoT startups. More: - SE Ventures was established with the support of French automation and energy company Schneider Electric SE.
- Schneider Electric aims to partner with or acquire cutting-edge tech startups from SE Ventures' portfolio.
- Schneider Electric acquired smart-grid technology startup AutoGrid.
- SE Ventures had participated in AutoGrid's Series D round.
- The firm has invested in over 30 companies to date, of which 70% have signed commercial partnerships with Schneider Electric.
- AI-powered predictive maintenance startup Augury is one of the most notable startups in its portfolio.
- The firm cemented its unicorn status at a $180M fundraiser in October.
- The firm debuted with a €500M fund in November 2018.
- If successful in raising €500M for the second fund, the firm's committed capital under management will surge past the €1B mark.
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Denver-based at-home nursing services provider DispatchHealth secured $330M in fresh funding. The equity funding was led by Optum Ventures, which also led the firm’s $135.8M Series C round in June 2020. The round includes a debt facility led by Silicon Valley Bank and K2 HealthVentures. More: - Existing investors Humana, Oak HC/FT, and Questa Capital participated in the current funding.
- In addition, the funding saw participation from new investors Adams Street Partners, the Olayan Group, Pegasus Tech Ventures, and Blue Shield of California.
- The fresh funding brings the total capital raised by the firm to over $733M, with the last fundraising coming in the form of a $200M Series D round led by Tiger Global Ventures in March 2021.
- Incoming funds will be used to scale the business and develop new solutions.
- The firm is already developing a Last Mile Health Care Technology Platform led by the former vice president of product at Uber, Daniel Graf.
Zoom out: - On-demand healthcare sector startups have raised $1.3B in funding so far this year.
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Tactyc launched a performance forecasting and planning platform for venture capital funds. The Morrisville, North Carolina-based firm also nabbed $1.5M in seed funding led by MaC Venture Capital and 4DX Ventures. More: - Tactyc was founded in 2019 by Anubhav Srivastava.
- Using the platform, venture firms can track capital deployment, calculate follow-on funding requirements, optimize capitalization tables, analyze fund performance, plan investment strategy, and forecast scenarios.
- In addition, the platform can assist venture firms in tracking the KPI metrics of portfolio companies.
- The firm has over 160 global venture firms, emerging managers, and corporate venture divisions as its clients.
- Tactyc claims its revenue has doubled over the past five months.
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Singapore-based venture firm iGlobe Partners is looking to raise $200M for its fifth fund. The fund will continue its existing strategy of backing deep technology-focused startups. iGlobe’s current assets under management total $400M. More: - In the past, the firm has invested in deep tech startups working on synthetic biology, health tech, fintech, and digital transformation sectors.
- Crunchbase data shows that the firm has made 47 investments to date and has successfully exited 12 investments.
- The company had four exits last year, when portfolio companies Ginkgo Bioworks, NerdWallet, Hippo Holdings, and Matterport debuted on the public exchanges in the U.S.
- iGlobe was founded by Koh Soo Boon in Silicon Valley in 1999.
- She relocated the firm to Singapore in 2009 to focus on cross-border investments across the U.S. and Southeast Asia.
- The mostly women-led organization has former Singapore Computer Society president Chong Yoke Sin as its managing partner along with Soo Boon.
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Quick Hits: - Apis Cor holds the current Guinness World Record for the largest 3D-printed building on Earth. Invest in the future of construction.*
- A $40M Series B investment led by Founders Fund brought autonomous driving technology company ISEE's total funding to over $70M.
- Scale Venture Partners led a $40M Series B round into SpotAI with participation from Redpoint Ventures, Bessemer Venture Partners, and others.
- Soft Robotics held the initial closing of its Series C round at $26M. Tyson Ventures is leading the round.
- British Web3 incubator and venture firm Blockmate Ventures hired Justin Rosenberg as CEO. Rosenberg will take over from outgoing CEO Dom Carosa, with the latter set to remain as founder and executive director.
- QED Investors led Indonesian fintech Pashouses' $5M pre-Series B funding round, its first investment in Southeast Asia.
*This is sponsored content.
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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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