Is this the ‘Unicorn Collapse’?

Plus, when a startup isn’t a startup anymore October 3, 2023 Hi, {NAME}. Twenty-three years ago, we had the Dot-Com Bubble. In 2008-2009, it was The Great Recession. But what do we call the current tech and startup market downturn? Perhaps one option is the “Unicorn Collapse,” posits [Hans Swildens]( of [Industry Ventures]( an active investor during both prior downturns that’s now [looking to acquire stakes in many of the heavily funded startups that have seen their valuations recede sharply](. 💰 [A secondary investor’s take on the current downturn]( [Industry Ventures]( is busier than ever, recently [closing on]( a record $1.7 billion-plus across two new funds as it looks to buy up stakes of startups at discount prices. And these days, the cast of industry players looking to offload their stakes is quite wide — ranging from ​​corporate investors to pension funds. See also: [The Crunchbase Unicorn Board]( 💡 [When is a startup not a startup anymore?]( What do we mean when we call a company a startup? AI-focused investor [Mikhail Taver]( of [Taver Capital]( poses that question as he ponders [whether a venture-backed company that’s established enough to buy other VC-backed companies is really a startup anymore]( and why those words matter anyway. 🏆 [Top 10 deals: Anthropic and space tech lead the way]( Nobody could beat [OpenAI]( rival [Anthropic]( when it came to the largest U.S. startup funding deals this week, but a few tried. They include a startup building a commercial space station, other AI companies, and, of course, a slew of biotech startups. See also: [The Crunchbase Megadeals Board]( ✂️ [It’s not fun and games for these laid-off tech workers]( The gaming sector was hardest-hit on [our tech layoffs tracker]( last week, with nearly 900 workers in the industry losing their jobs. 🕺 [Pivoting your startup? 5 strategies to get investors on board]( Need to pivot your startup, but scared to talk to your investors about it? Entrepreneur [Artem Semjanow]( who’s navigated two successful pivots — from from B2C to B2B, and then from a sneakers company to an [AI health app]( — shares five strategies to help you gain investor support when navigating pivots. Recent Investments [Amicus Therapeutics]( [$400M]( / [Post-IPO Debt]( Amicus Therapeutics is a biopharmaceutical company developing therapies for the treatment of rare and orphan diseases. Categories: Biotechnology • Health Care • Pharmaceutical • Therapeutics Investors: [Blackstone Credit]( (Lead) [Canoo]( [$45M]( / [Post-IPO Equity]( Canoo is an electric vehicle startup company that focuses on developing electric vehicles and related technologies. Categories: Automotive • Consumer Electronics • Electric Vehicle • Electronic Design Automation (EDA) Founders: [Andrew Wolstan]( [Phillip Weicker]( [Richard Kim]( [Stefan Krause]( [Ulrich Kranz]( [Adlai Nortye]( [$40M]( / [Post-IPO Equity]( Adlai Nortye is a clinical-stage biopharmaceutical company that deveops cancer treatments for diverse tumor types. Categories: Biotechnology • Health Care • Pharmaceutical Founders: [Carsten Lu]( Investors: [Nippon Kayaku]( More Fundings Company Amount / Round Lead Investor [Amicus Therapeutics]( $30M / [Post-IPO Equity]( [Blackstone Life Sciences]( [ReShape Lifesciences]( $3.0M / [Post-IPO Equity]( - [Ginkgo Bioworks]( Unknown / [Grant]( [USDA Animal and Plant Health Inspection Service]( [Holmusk]( Unknown / [Corporate Round]( [Veradigm]( [All Recent Funding Activity]( Recent Acquisitions [BudAB]( Pending acquisition by [Jetpak]( for 25M SEK More Acquisitions Company Acquired By Amount [Melchor]( [Monadelphous Group]( $10M [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.