In Q2 of this year, large money-management companies including hedge funds, mutual funds, pensions and sovereign-wealth groups became bigger players in Silicon Valley than venture capitalists with regard to startups. According to PitchBook Data, these nontraditional funders took part in 42 percent of startup financing deals, forming more than 75 percent of the invested capital. PitchBook added that, in the first half of 2021, investment in U.S. startups reached $150 billion, more than funding in every year prior to 2020. Continue reading Money Management Firms Surpass VCs in Funding Startups

Snap Inc. will open the doors to a new online store dedicated to expanding sales of its connected sunglasses. Spectacles.com launches just as the company’s New York City pop-up store closes, and anyone in the U.S. can buy a pair of Spectacles, priced at $130. At the same time, Snap’s founders will start marketing its upcoming IPO to mutual funds and hedge funds in London. Snap released Spectacles, its first hardware product, before filing for its IPO. They were initially sold in a handful of vending machines. Continue reading Snap Opens Online Store for Spectacles and Readies its IPO

After three years of consideration, the Securities and Exchange Commission now allows ordinary investors to take equity stakes in startups through crowdfunding. The move began with the 2012 Jumpstart Our Business Startups, or JOBS Act, to assist startups and small businesses to raise capital from potential investors. But, until last week, only investors whose net worth was greater than $1 million (excluding their primary residences) or earned more than $200,000 a year were permitted to invest via crowdfunding. Continue reading SEC Greenlights Crowdfunding for Startups, Keeps Watchful Eye

SpaceX recently landed a $1 billion investment from Google and investment firm Fidelity. Google’s commitment to SpaceX is part of the company’s ambitious plan to facilitate Internet connectivity on a global scale in order to serve more areas of the world, reach consumers more directly, and ultimately get its products into more hands. In addition, Google has plans to offer a wireless service through deals with Sprint and T-Mobile, which could lead to rivals lowering their prices and improving connectivity speeds. Continue reading Google Invests in SpaceX to Push Worldwide Internet Access