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From Connie Chan to Ethan Kurzweil, venture capitalists continue to play musical chairs

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When Keith Rabois announced in January that he was leaving Founders Fund and returning to Khosla Ventures, it got here as a shock to many within the venture capital ecosystem – and never simply because Rabois is a giant name within the industry.

This was surprising because, unlike in lots of other fields, venture capitalists traditionally don’t move fairly often – especially those that rise to the extent of partner or general partner, as was the case with Rabois.

VC funds have a 10-year lifecycle, and partners have a great reason to stay that course. In some cases, they could be “key people” in an organization’s fund, which suggests that in the event that they leave, the fund’s LP investors have the appropriate to withdraw their capital in the event that they so select. Many partners and GPs also invest a few of their very own money of their firm’s funds, giving them another excuse to stick with the firm.

So while it isn’t common for high-profile investors to move into the venture capital space, it seems to have happened in recent months. So far this 12 months, there have been significant cases of investors returning to old corporations, withdrawing from investments on their very own or stopping investing altogether.

Just TodayVic Singh, one in all the co-founders of Eniac Ventures, announced he was leaving the corporate he helped present in 2009 to start his own.

Singh joins a growing list of VCs who’ve recently left corporations.

April

  • April 30 Ethan Kurzweil announced after 16 years he was leaving his position as a partner at Bessemer Venture Partners. According to him, Kurzweil will create an investment company specializing in early-stage development reports from Axios. Kurzweil will launch the corporate with Christina Shenwho left Andreessen Horowitz on March 29 after 4 years, and Mark Goldberg, who left Index Ventures last fall after eight years.
  • April 1 Christina Farr announced that he’ll leave OMERS Ventures, where he has been the lead investor since December 2020 and heads the corporate’s medical technology practice. Farr announced at

March

  • After six years as a partner at Accel Ethan Choi announced that he’ll leave the corporate in March and go to Khosla Ventures. Choi will deal with growth-stage investing in his recent company and has backed corporations comparable to Klaviyo, Pismo and 1Password.
  • While lots of the recent VC moves have been made by people looking to start something recent or pursue a unique opportunity, not all have done so. March 13, Chamath Palihapitiya Social Capital announced that he fired his partners Jay Zaveri AND Ravi Tanuk. Bloomberg reported that it was due to a fundraising case for the AI ​​startup Groq.
  • Rabois wasn’t the just one who dreamed of a boomerang return to its old stomping ground amid the recent surge in investor reshuffles. March 5 Miles Grimshaw announced that after three years in the identical position at Benchmark Capital, he’ll return to Thrive Capital as a general partner. Grimshaw began at Thrive Capital in 2013 and has supported corporations comparable to Airtable, Lattice and Monzo, amongst others.
  • While the transition from operator to VC is a standard profession progression process within the startup ecosystem, it isn’t for everybody. March 4 Blonde herself announced that he has come to this conclusion and is leaving Founders Fund, where he was a partner for about 18 months. Blond said he would return to operations and has held positions at corporations including Brex, Zenefits and EchoSign.

January

  • After 12 years of labor at Andreessen Horowitz Connie Chan announced she left the corporate on January 23. Chan has been one in all the corporate’s general partners for the past five years and has supported corporations comparable to Cider, KoBold and Whatnot.


This article was originally published on : techcrunch.com
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Coatue raises $1 billion for AI betting

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Philippe Laffont

Coatue Management, a hedge fund that has invested heavily in tech startups throughout the pandemic boom, is raising $1 billion to support artificial intelligence corporations, Bloomberg reported on Monday.

The funds that can contribute to the corporate’s flagship fund will probably be obtained primarily from institutional investors. However, the report shows that wealthy individuals with accounts at brokerage Raymond James and Associates can even spend money on Coatue.

Coatue, which manages nearly $50 billion in assets, invested in greater than 170 VC-backed corporations in 2021, based on PitchBook data. Since then, Coatue has dramatically slowed its pace of investing in startups, supporting only 81 corporations in 2022 and around 30 corporations in 2023.

However, the cross-border investor shouldn’t be done investing in private corporations. According to PitchBook data, in 2024 Coatue supported 29 startups. The company’s latest AI-focused investments include Glean, Scale AI and Skild AI, which is constructing a general-purpose AI robot. Philippe Laffont, founding father of Coatue (pictured above), said they’re particularly enthusiastic about humanoid robots with artificial intelligence-powered brains.

This article was originally published on : techcrunch.com
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Mom and son Game Changer Academy founders help black gamers get 150,000. dollars in NIL transactions

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gamers, NIL, Black


Kendall Hamilton and his mother, Dr. Gigi, help Black gamers land lucrative name, image, likeness (NIL) deals and influence the industry through their organization Game Changer Academy.

In highschool, Hamilton rose to prominence as a player himself. Although his mother was initially concerned about his profession path, her support for Hamilton led to his promotion in Rocket League. Hamilton and his mother were among the many top ten players in the virtual game showing others Black families the right way to succeed in esports.

At Game Changer Academy, Hamilton is a performance improvement coach and mental health advocate. Thanks to his own success, he knows concerning the great opportunities the sport offers, akin to scholarships and NIL offers. Now he and his mother were working to make those offers available to other black players like him. So far, the mother and son duo have acquired over 150,000 for his or her clients. dollars.

As for Dr. Gigi, she uses her background in workforce development to help families turn passions into fruitful opportunities. She helped families learn the way gaming could lead on to scholarships and future offers. The licensed psychotherapist also wants to scale back the gap between black gamers and industrial success.

Their efforts are contributing to a greater emphasis on diverse players – 15% of them discover as black, in accordance with New Zoo. Understanding the potential financial gains from the booming industry, the duo stays committed to reaching Black youth captivated with esports to speed up their careers.

Their newest enterprise, Game On: Virtual Experience – Gaming, Mental Health, and Personal Development, hopes to proceed this mission. The event, which can happen on November 4, will connect players and inform them concerning the opportunity to shape their future in this industry. Additionally, there shall be speak about protecting your mental health while pursuing your passions while constructing an empire.

Game Changer Academy is diversifying the esports industry and preparing Black gamers to take the sector. Registration for the event is now open to all families with ready-to-play players.


This article was originally published on : www.blackenterprise.com
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Columbus says ransomware gang stole personal information of 500,000 Ohioans

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The city of Columbus, the capital of Ohio, confirmed that hackers stole the personal information of 500,000 residents during a July ransomware attack.

In filing In an interview with Maine’s attorney general, Columbus confirmed that a “foreign threat actor” breached its network to access information including residents’ names, dates of birth, addresses, identification documents, social security numbers and checking account information .

Ohio’s most populous city, with about 900,000 people, said about half 1,000,000 people were affected, even though it didn’t confirm the precise number of victims.

The regulatory filing comes after Columbus was the goal of a ransomware attack on July 18 this 12 months by city officials he claimed “thwart” it by disconnecting your network from the Internet.

Rhysida, the ransomware gang accountable for last 12 months’s cyber attack on the British Library, claimed responsibility for the August attack on Columbus. At the time, the gang said it had stolen 6.5 terabytes of data from the Ohio city, including “databases, internal employee logins and passwords, a full server dump of city emergency services applications, and … access from city video cameras,” in response to local news reports.

Rhysida demanded 30 bitcoins, or roughly $1.9 million on the time of the cyberattack, as payment for the stolen data.

Two weeks after the cyberattack, Columbus Mayor Andrew Ginther told the general public that the stolen data was likely “corrupted” and “unusable.”

The accuracy of Ginther’s statement was called into query the day after David Leroy Ross, a cybersecurity researcher also often called Connor Goodwolf, revealed that the personal information of a whole lot of 1000’s of Columbus residents had been placed on the dark web.

In September, Columbus sued Ross, alleging that it “threatened to make stolen city data available to third parties who otherwise would not have readily available means to obtain stolen city data.” A judge issued a brief restraining order against Ross, stopping him from accessing the stolen data.

In a listing published Monday by TechCrunch on the leak site, Rhysida claims to have transferred 3.1 terabytes of “unsold” data stolen from Columbus, amounting to greater than 250,000 files.

This article was originally published on : techcrunch.com
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