- Out of .5 billion, Accel has raised 5 million for Accel XIV LP, which is the firm’s 14th venture fund and also the largest flagship fund it has raised so far.
- One of the world’s most prolific venture capital firms Accel Partners, which manages more than $1 billion worth assets under management in India, has raised more than $2.5 billion to back startups.
- Another fund called Accel Growth Fund V LP, Accel’s fifth growth-stage fund, has raised $1.5 billion from 168 investors.
- Founded in 1983, Accel has made 1, 256 investments and has raised $11.7 billion for its 23 funds so far.
Read full article: financialexpress.com
- Whitefield Art Collective
- Punjab Art Initiative (Chandigarh) and Dumas Art Project (Surat)
- “Put yourself out there. Don’t be shy of your work, be proud of it, but don’t be afraid to ask others for help,”
Read full article: yourstory.com
- BENGALURU | NEW DELHI: Lee Fixel , the secretive American investor, best known in India as the man who powered the rise of ecommerce giant Flipkart , is poised to return to his old hunting grounds in a new avatar, said several members of the country’s startup fraternity who are directly aware of his plans.
- On Thursday, Tiger Global , the New York-based investment firm where Fixel has worked for over 13 years, said the technology investor would leave the firm on June 30.
- In a letter to its limited partners, or sponsors of the fund, the firm said: “Lee expects to actively invest his own capital and may start an investment firm in the future.
- Fixel, who is estimated to be armed with a personal capital of $800 million to $1 billion, “began informing a select group of founders from Tiger Global’s Indian portfolio (of his impending exit from the firm) a week ago,” the sources said.
- If Fixel builds a new avatar, he will likely come back,” said Karthik Reddy, partner at Blume Ventures.
Read full article: economictimes.indiatimes.com
- It proposed guidelines that would make it mandatory for certain internet intermediaries to set up Indian companies & permanent registered offices in India.
- The proposed policy has many aims, including “empowering domestic entrepreneurs”, levelling the playing field for startups , and encouraging their participation in the digital economy.
- The policy equating ecommerce with the digital economy offers recommendations on wide-ranging areas well beyond just ecommerce, including data governance, intermediary liability, intellectual property, competition, consumer protection, investments and cloud infrastructure.
- The requirement to establish an Indian entity will also dissuade businesses from placing India at the forefront of their business and innovation strategies.
- If GoI wants to encourage entrepreneurs to establish companies in India, its focus must be on ease of doing business reforms, as opposed to forced compliance requirements.
Read full article: economictimes.indiatimes.com
- His aim was singular: to put Ayurveda, yoga, meditation, and other concepts on the global wellness map.
- In 2016, he started Bengaluru-based AyurUniverse, an online wellness aggregator startup that leveraged technology to let customers worldwide search, choose, and book a wellness package of their choice without any intermediaries.
- I always used to feel that people in India, well-qualified MBAs and others, did not have the courage to take an Indian brand abroad,” Vijay says.
- We realised that many centres that provided Ayurvedic, yoga, or meditation services were just following the same system without any marketing innovation,” Vijay says.
- “India is a powerhouse of wellness systems as there are others like Siddha medicine or Kalari that have not yet been marketed.
Read full article: yourstory.com
- Famed startup accelerator Y Combinator just announced the 23 companies joining its newest YC Winer 2019 batch .
- Y Combinator has previously invested in plant-based meat companies like Seattle Food Tech .
- However, by letting a cultured meat company through its hallowed doors, Y Combinator is now blessing cell-based meat as a viable investment opportunity.
Read full article: thespoon.tech
- American Resources Corp. owns five coal mines, including the Access Energy Mine in Kentucky, which feeds the company’s Mill Creek coal preparation plant, shown above, in Letcher County, Kentucky.
- American Resources Corp., formed in 2015, specializes in buying distressed coal assets from struggling or bankrupt coal operators.
- The company has just 230 employees (and another 70 contract workers), compared to more than 7,000 employees at Peabody Energy, based in St. Louis, one of the largest U.S. coal companies, which struggled under billions of dollars in debt before filing for bankruptcy in 2016.
- While most coal companies mine coal chiefly for power plants, which burn it to generate electricity, American Resources mines mostly metallurgical coal, a more profitable type, which is melted down into coke and combined with iron ore to make steel.
- They began buying selected assets out of bankruptcy sales and from distressed operators, and put them together under a holding company called Quest Energy.
- By late 2016, the company was producing coal at its first mine, and began building a network with a hub-and-spoke model, allowing nearby mines to share expensive processing equipment, holding down costs.
Read full article: ibj.com
- Amid Ongoing Quadriga Scandal
Canada is moving to overhaul its securities regulations to cover crypto trading platforms such as Quadriga Fintech Solutions Corp., a digital exchange that lost access to C$260 million ($195 million) of investor assets after the death of its founder.
- The Canadian Securities Administrators, an umbrella organization of provincial and territorial regulators, is seeking comment on a tailored framework “to address the novel features and risks” of platforms that trade crypto assets.
- They’ve told us that a regulatory framework is welcome because they’re trying to build consumer confidence and expand their businesses across Canada and in some cases globally.
- Global incidents point to crypto assets having heightened risks related to loss and theft as compared to other assets,” it said.
Read full article: insurancejournal.com
- Bengaluru: Lee Fixel, one of the most prolific investors in India’s startup ecosystem, is exiting the private equity business of New York-based Tiger Global Management, according to a letter shared by the firm with its investors.
- Fixel has been behind some of the biggest investments in Indian startups, including Walmart Inc.-owned Flipkart and SoftBank-backed Ola (ANI Technologies Pvt. Ltd).
- Lee has been a driving force behind the expansion of Tiger Global’s private equity investing activities in the United States and India, and he has distinguished himself as a world-class investor across multiple sectors and stages,” reads the letter.
- Since joining Tiger Global in 2006, Fixel had become one of the most important startup investors across the world.
Read full article: livemint.com
- aka Connie Loizos has the story:
Lee Fixel, the low-flying head of Tiger Global’s private equity business, is leaving at the end of June, the firm announced today in a letter sent to clients and seen by Reuters .
- Fixel, 39, is reportedly planning to invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter.
- Facebook’s chief product officer is leaving along with Chris Daniels, the VP of WhatsApp.
- Coupang, the unicorn that is defining e-commerce in Korea, announced today that it has hired Jay Jorgensen, Walmart’s former global chief ethics and compliance officer, to serve as its general counsel and chief compliance officer.
- The automaker officially tapped as its next chief financial officer Zachary Kirkhorn, a longtime employee who has been part of the automaker’s finance team for nine years, according to securities filings posted Thursday.
- Indian fintech startups saw around $2.6 billion of investment in 2018 according to Pitchbook.
Read full article: techcrunch.com