SVB in talks to sell itself, as crisis triggers global banking rout

SVB Financial Group’s efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading. SVB, which … Read more

360 One acquires controlling stake in Mumbai Angels

360 One has completed acquisition of a controlling stake in Mumbai Angels. Mumbai Angels is one of the oldest and a leading player in the early investment space. Financial details of the transaction have not been disclosed. Reason for the subject transaction is obviously the synergy between Mumbai Angel’s network, wide experience in the investment … Read more

Unicorns become ‘cockroaches’ as tech funding dries up

For years, becoming a unicorn was the main goal of startups. Now, with venture funding drying up and many young firms’ survival in doubt, another creature is the talk of the town: the cockroach.   Venture capitalists and technology chieftains converged in Singapore in recent weeks to hobnob over a number of high-profile annual conferences, … Read more

How to Land an Investment From Serena Williams’ VC Firm

Serena Williams launched Serena Ventures in 2014 and has invested in over 60 companies. In March, the firm announced it had raised an inaugural fund of $111 million. Williams’ partner shares how to win an investment from the fund, which gets 200 pitches a week. Last week, amid the bright lights of Arthur Ashe Stadium, … Read more

Gullak raises ₹10 cr funding from Better Capital & Stellaris Venture Partners

Automated savings and investment platform Gullak has announced raising ₹10 crore in a pre-seed round led by Better Capital and Stellaris Ventures Partners. The round also saw participation from several angel investors such as Vimal Kumar and Sheetal Lalwani (co-founders at JusPay), Shan MS (chief growth officer, JusPay), Ramanathan RV (co-founder at Hyperface), Maya Kunnath … Read more

Why It Could Take Years for Startup Valuations to Stop Plunging

The plunge in startup valuations could last years, say VCs at the firm Redpoint Ventures. The situation is similar to the dot-com bust after the 1999’s tech boom, they say. But one big difference from two decades ago is the record piles of cash VCs are sitting on now. Venture capitalists were partying like it … Read more

Fintech Bolt Is Raising Funding, Looking for a $14 Billion Valuation

Bolt, a San Francisco fintech startup that provides an online checkout solution for other companies, is still in talks to raise new money at a valuation of $14 billion, according to a source familiar with the matter. The deal comes only weeks after Bolt closed $355 million in a Series E round, valuing it at … Read more