Venture Capital News

The latest venture capital stories, summarized by AI

"Peak XV's Surge Program Launches AI-Dominated Cohort 9 with 13 Startups"

Peak XV Partners' Surge program has unveiled its ninth cohort, with 10 out of 13 startups specializing in AI and deeptech sectors. The selection comes at a time when there is a perceived lack of depth in India's AI startup landscape, despite the growing global interest in the sector. The Surge program, which completes five years in early 2024, has become a highly influential early-stage investor in India and Southeast Asia, backing over 140 firms to date. The program offers seed funding of up to $3 million and access to extensive resources, setting it apart from other market offerings. The latest cohort also includes two Australian startups, as Peak XV actively evaluates opportunities in the country's software sector.

2 years ago•Source: TechCrunch

venture-capital

4.585 min•2 years ago

The Decline of Crypto Venture Capital: AI Takes the Spotlight

The venture capital space has seen a significant decline in funding, with global venture funding dropping by 49% compared to the same period last year. The market has shifted its focus towards AI funds, which have become the new golden goose for VC firms. The decline in interest can be attributed to factors such as higher interest rates, supply chain shortages, and a lack of exit opportunities. The collapse of several crypto ventures, including FTX, has further eroded investor confidence in the crypto industry. As a result, AI projects have been commanding large VC rounds, with valuations that are difficult to justify. This trend has led to a decrease in funding for pure crypto projects, with many startups now incorporating AI components to attract VC interest. However, there is hope for crypto founders as the cyclical nature of the crypto economy suggests that innovation and investor interest will return as the bear market ends.

via CoinDesk