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Giannis Antetokounmpo launches venture capital fund - ESPN

The Milwaukee Bucks superstar announced ... a venture capital fund that will focus on investments in sports, entertainment and technology. Antetokounmpo, the two-time NBA MVP from Greece, is hoping to help connect entrepreneurs with investors who will be able to grow their businesses. "This fund is not just about capital; it's about forging partnerships and opening my network to ... The Milwaukee Bucks superstar announced the launch Thursday of Build Your Legacy Ventures, a venture capital fund that will focus on investments in sports, entertainment and technology. Antetokounmpo, the two-time NBA MVP from Greece, is hoping to help connect entrepreneurs with investors who will be able to grow their businesses. "This fund is not just about capital; it's about forging partnerships and opening my network to accelerate the growth trajectory for companies," Antetokounmpo said.Giannis Antetokounmpo is looking for some assists off the court, aiding with investments in early stage startup companies.

Fidelity Investments Raises First Fund Dedicated to Venture Capital - Bloomberg

Fidelity Investments has raised $250 million for its first fund dedicated to venture capital investments, pushing the firm further into private assets. Fidelity Venture Capital Fund I closed with backing from family offices, investment advisers and high-net worth individuals, the Boston-based asset manager said in a statement Wednesday.Fidelity Venture Capital Fund I will make direct, minority investments in mid- to late-stage private companies in various sectors.Photographer: Graeme Sloan/Bloomberg

VanEck Starts Crypto, AI Venture Fund With Former Circle Staff - Bloomberg

VanEck, a roughly $115 billion asset manager, is entering the world of venture capital investing with a $30 million early-stage fund that will focus on fintech, digital assets and artificial-intelligence startups. The fund is led by Wyatt Lonergan and Juan Lopez, who previously headed Circle Ventures, which they left earlier this year.

Before politics, JD Vance had a career in venture capital. Here are the startups he's invested in.

Before politics, JD Vance was a venture capitalist. Among other companies, his fund Narya invested in one founded by Vivek Ramaswamy's brother. JD Vance has investments in a series of startups through his stakes in venture capital funds.Before he was the vice president-elect or a senator, JD Vance was a venture capitalist.JD Vance is a man of many careers: attorney, author, senator, vice president-elect, and, perhaps less well-known, venture capitalist.After a brief stint at a now-defunct biotech startup, Vance got a job at his benefactor Peter Thiel's venture fund Mithril Capital.

Radical Ventures Aims to Entice AI Founders With Classes, GPUs - Bloomberg

Venture capital firm Radical Ventures is seeking artificial intelligence researchers who might want to start their own company, offering more than a dozen “founder-curious” academics and tech workers about $250,000 in compute credits to try out new ideas. The program, which will give away about $4 million, is part of a larger effort by Radical Ventures to entice more academics and tech workers to try their hand at startups in the booming AI industry.

What Is Venture Capital? Definition, Pros, Cons, and How It Works

Venture capital is money, technical, or managerial expertise provided by investors to startup firms with long-term growth potential. Financing typically comes in the form of private equity (PE). Ownership positions are sold to a few investors through independent limited partnerships (LPs). Venture capital tends to focus on emerging companies, while PE tends to fund established companies seeking an equity infusion.Harvard Business School professor Georges Doriot is generally considered the "Father of Venture Capital." He started the American Research and Development Corporation in 1946 and raised a $3.58 million fund to invest in companies that commercialized technologies developed during World War II.Venture capital provides funding to new businesses that do not have enough cash flow to take on debts. This arrangement can be mutually beneficial because businesses get the capital they need to bootstrap their operations, and investors gain equity in promising companies.However, a business that accepts venture capital support can lose creative control over its future direction. VC investors are likely to demand a large share of company equity, and they may make demands of the company's management.

Sequoia to Rake in More Than $100 Million From Stripe's Crypto Acquisition - Bloomberg

Venture capital firms including Sequoia, Ribbit and Index notched big wins when Stripe bought Bridge for $1.1 billion. Venture capital firms are set to make hundreds of millions of dollars from Stripe Inc.’s acquisition of crypto platform Bridge for $1.1 billion in cash and stock, according to people familiar with the matter — a deal that’s handed VC firms a rare win in a difficult market for crypto startups.Firms including Sequoia Capital, Ribbit Capital, Bedrock Fund Management, Index Ventures and Haun Ventures all saw their investments in the startup pay off many times over. The investments represent an unusually quick turnaround for VCs, particularly with the startup market mired in a post-pandemic slump.

I pivoted into venture capital at 23 and my life has never been so exciting. Here's my advice for breaking into the industry.

Katie Vasquez landed her first venture capital job at 23. She said people who want to join the industry should leverage their network. I'm an investor at Calibrate Ventures, an early-stage deep-tech venture capital firm. ... The path that led me here was somewhat unconventional. My educational background is in astrophysics, but I've also dabbled in entrepreneurship and worked in consulting.During my senior year of college, I was interested in entrepreneurship. A friend and I had talked about starting a company one day. We brought in a third friend and did just that in our final year. ... We launched a mobile app that we spent the year developing. I got us into an accelerator and raised some grant capital. In the fall, we talked to a couple of VCs and even pitched Y Combinator. It wasn't a very successful venture, but it was a good learning opportunity.This experience provided a great foundation for thinking more about technical due diligence, tech architecture, and strategy, but moving into investing and venture capital felt like the most exciting path. ... While I was in that role, recruiters reached out to me. I was surprised at first, but I was excited to make the leap. My background in physics, combined with my finance experience at EY-Parthenon and two summer internships at Goldman, gave me a unique blend of technical and financial expertise that helped propel my career.I stayed there for two years, but I still had a passion for physics and aerospace I couldn't explore at the firm, which invested in fintech, insurtech, and healthtech. I spoke about this with people in my network in the Los Angeles area, and I was referred to my current role, which I started in January. I'm now an investor at Calibrate Ventures focusing on deep-tech.

VC Earlybird Digital East Rebrands As Bek Ventures, Raises $250 Million New Fund - Bloomberg

A venture capital firm with notable hits in eastern Europe and Turkey has rebranded as Bek Ventures and raised a $250 million fund to invest in the region.

India’s Largest Airline Gets Nod to Launch Venture Capital Fund

India’s largest airline IndiGo, operated by InterGlobe Aviation Ltd., has received approval from the country’s markets regulator to launch a venture capital fund as it seeks to boost the South Asian nation’s travel and aviation market. IndiGo Ventures will start investing by the end of the financial year to March 31, the Gurugram-based airline said in a statement Tuesday. The fund will invest in pre-series A, series A, and series B funding rounds in consumer firms in aviation and allied sectors, including travel, lifestyle, hospitality and food and beverages.