According to data collected by Carta, a unicorn firm that provides equity management and other services to private companies, round sizes from the Series A through C stages in the United States are declining, as are the valuations associated with those agreements. The pricing reprieve may be welcomed by investors looking for a bargain. The news may be less appealing to founders looking for their next round of funding.Read more. ➝
According to a recent Future of Work Abroad survey, Americans who move, work, and start a business abroad are happier. Entrepreneurs that are not linked to consumerism can live a more free life because to location independence. This is especially true for Black entrepreneurs who choose to live, work, and grow their businesses in places other than the United States. They are tired of prejudice and are seeing that it is possible to create a business in more inclusive countries that make Black entrepreneurs feel welcome.
First and foremost, Fast, a three-year-old one-click checkout firm, announced its closure after failing to obtain further financing to keep operations going. The statement didn’t come as a complete surprise, given that The Information had reported on symptoms of problems the week before. Those hints included the revelation that the startup had only generated $600,000 in revenue for the entire year of 2021 despite raising $120 million in venture capital earlier in the year (in a round led by Stripe) and rumors that the company was having difficulty raising additional funds and, as a result, might be looking for a buyer.
Your new firm may begin modestly, but it does not imply that you will make a small investment. New projects frequently cost tens of thousands of dollars: According to an Inc. Magazine survey of fast-growing enterprises, 42 percent of organizations debuted in 2018 with $5,000 or less in investment, and 21 percent required $5,000 to $25,000.
AmerisourceBergen, a leading pharmaceutical distributor, is putting $150 million into a corporate venture fund focusing on healthcare entrepreneurs.
AB Health Ventures, the wholesale giant’s new venture capital fund, will first look to invest in early to midstage health-related firms both in the United States and abroad. According to management, the fund will target investments in businesses focused on pharmacy and distribution innovation, clinical development and commercialization of pharmaceuticals, practice solutions for healthcare practitioners, and animal health.
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Base10 Partners was founded in 2018 by managing partners Ajao and TJ Nahigian. The San Francisco-based firm invests in automation technology across industries such as food and retail using a data-driven strategy. Base10 created an automated software program to watch startups in real time using a set of predictive data points; the 64 investments it has made represent 0.4 percent of the more than 15,000 companies it tracks.
Bitwise Industries, a digital cluster located in Fresno, is expanding to five locations. Individuals from underserved neighborhoods are trained for careers in the industry by the company. Last year, Bitwise received a $50 million Series B round, putting the company at over $200 million.
According to a new research issued today by the Kapor Center in collaboration with the NAACP, the tech industry is still failing to diversify its talent pipeline and is even regressing in some areas. According to the report State of Tech Diversity: The Black Tech Ecosystem, there was just a 1% growth in the presence of Black workers in technical roles at significant tech businesses between 2014 and 2021.
Hello Plug In Family! We are pleased to announce a new partnership between Plug In South L. A and PocketCFO.
PocketCFO is a Public Benefit Corporation with the social mission of elevating underrepresented groups and promoting gender, racial, ethnic, and neuro-diversity.
As you must be very much aware, at Plug In South LA, we aim to cultivate an inclusive industry as well as break boundaries that have never been done before.
By partnering with PocketCFO we will be expanding our financial wellness services and our mission by working in close partnership.
As part of our partnership, PocketCFO is sponsoring tiered membership for up to 50 members. You must submit an application for review. If you are approved and qualify, we’ll get in touch to provide you with the next steps and onboarding!
This is not just available for incoming members, if you are already a member you may also apply! The Tier 2 benefits package includes,
- Tier 1 benefits
- Early access to events
- Discounts on conferences and community events
- Founder focused workshops & sessions
- Access to partner events and programs
- Access to Mentor Sessions and Office Hours
We look forward to you joining us on this journey and can’t wait to see you soon. Please submit an application here (insert link).
-Your Plug In Family