Tag: startups

Fidelity Investments Slashing Valuations on Reddit, Stripe, Bytedance and Instacart

It seems like private market valuations for startups are getting slashed because of overall economic outlooks. In the past few months we have seen heavy declines in the public markets and now the private markets are following behind.

Fidelity Investments is cutting some of its portfolio company valuations.

  • Reddit valuation is down by more than a third.
  • Stripe valuation is down by about 13%
  • Bytedance valuation is down by 13%
  • Instacart is valued at half of its value from last year.

These are only private valuations inside of Fidelity and this was back in April – so its expected that these valuations have dropped even more since then.

It’s a tough time economically for everyone!

Katie Haun – Launches Haun Ventures with $1.5 billion in Capital to Invest in Crypto Startups

Katie Haun (who was previously at a16z as the head of their crypto investments division) has started her own venture firm focused on the crypto market and has raised $1.5 billion.

The capital, the largest ever for a solo female founder-led venture, is split across two funds, with the first $500M tranche set out for backing early-stage startups. The remaining $1B “accelerator” fund will focus on late-stage well-established firms across Web3.

OpenSea Launches OpenSea Ventures – Investing in Startups around the NFT Ecosystem

Opensea have just announced their own Venture fund, Opensea Ventures. The fund will seek investments in startups working in domains such as NFTs, DeFi, blockchain, and others. OpenSea co-founder Alex Attalah will lead the venture fund. 

The fund will focus on startups that produce NFTs, create NFT protocols, produce blockchain and metaverse games, and develop NFT analytics. 

This seems like a natural next step to build out an ecosystem fast and potentially tie down some assets for exclusive sale in the Opensea platform.

Telstra Ventures – Bullish on the Chinese Technology Sector and Private Companies in China

Even though there has been a huge crackdown in the Chinese Tech companies – it seems like there are still many Venture Capital firms that are bullish on the future of the Chinese Tech sector.

One venture firm that is looking for more opportunities is Telstra Ventures. Telstra Ventures is the venture capital arm of Telstra – Australia’s largest telecoms company.

Telstra has been investing in China for the past six years. It now counts three Chinese unicorns in its portfolio.

Keep an eye on Telstra Ventures investments as it seems like their research is finding some of the best opportunities in the Chinese Tech sector.