The sad state of exits for top VCs

Plus, Altman saga might be over, but is the AI drama? November 30, 2023 Hi, {NAME}. For the highest-spending startup backers, big exits tend to come in clusters. Investors rack up huge tallies in boom years, [like 2021](. In quiet years, [like this one]( few portfolio companies sell or go public at high valuations. Just how quiet is exit activity in 2023? To get a sense, we [looked at acquisitions and IPOs for companies backed by the most active and highest-spending lead investors of the past few years](. Plus, we consider [whether there’s more drama to come in the AI world after the OpenAI saga]( and look at [a blockchain company that just landed a $2.5 billion valuation in a new $225 million raise](. 📉 [The sad state of exits for top VCs]( The five top lead investors this year have seen just one traditional IPO of a company for which they led a private funding round. Acquisition activity was a bit busier, but still underwhelming, [Crunchbase]( data shows. Related Crunchbase Pro list: [Companies Acquired In 2023 Backed By Most-Active Lead Investors]( 👁 [Eye on AI: Altman saga might be over, but is the AI drama?]( While [OpenAI]( governance structure might be somewhat unique, that doesn’t mean the drama that enveloped it earlier this month can’t happen at other highly valued AI companies, which must grapple with sometimes-competing interests by hard-to-find employees, investors and executives. 🪱 [Cross-blockchain messaging startup Wormhole gets $2.5B valuation]( [Wormhole]( which makes a messaging protocol that works across blockchains, says it raised $225 million at a whopping $2.5 billion valuation. 🩺 [5 interesting deals from November you may have missed]( From a doctor’s office with no doctor to an app that aims to help you develop healthier drinking habits, here are five startups that received funding this month that caught our eye, but that you may have missed. 💪 [Why VCs should embrace executive coaching]( Spare a thought for VCs in the current market. Between the regular challenges of the job — juggling their businesses while ensuring their limited partners are happy and portfolio companies and executives are productive — and today’s turbulent investing climate, things ain’t easy. So what’s a stressed out VC to do? Guest author [Chris Gannett]( offers three reasons why venture investors should consider executive coaches to navigate the challenges. 🤖 [3 myths about AI investing]( The market [is exuberant about AI]( and rightly so, but that exuberance has caused many VCs to lose their minds, chasing any deal with a dot-ai domain name, writes guest author [Spencer Greene]( of early-stage investment firm [TSVC](. He outlines three investment rationales that he says are among the most common “myths” of AI investing. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Zomato]( [33B INR]( / [Post-IPO Secondary]( Zomato is a restaurant discovery platform that allows users to search for restaurants, browse menus, and place orders for food delivery. Categories: Food Delivery • Mobile Apps • Reservations • Restaurants Founders: [Deepinder Goyal]( [Pankaj Chaddah]( Investors: [Abu Dhabi Investment Authority]( [Fidelity]( [Goldman Sachs]( [+ 3 more]( [Candex]( [$45M]( / [Series B]( Candex is streamlines tail spend management by facilitating easy vendor engagement, payment tracking, and financial compliance. Categories: Business Information Systems • Cloud Management • FinTech • Payments Founders: [Jeremy Lappin]( [Shani Vaza-Wahrmann]( Investors: [Goldman Sachs Asset Management]( (Lead), [World Innovation Lab (WiL)]( (Lead), [Altos Ventures]( [+ 5 more]( [Aro Biotherapeutics]( [$42M]( / [Series B]( Aro Biotherapeutics develops tissue-targeted genetic medicines using Centyrins, a proprietary technology, to address complex diseases. Categories: Biotechnology • Health Care • Medical • Pharmaceutical • Therapeutics Founders: [Karyn O’Neil]( [Susan Dillon]( Investors: [Cowen Healthcare Investments]( (Lead), [BVF Partners]( [HealthCap]( [+ 2 more]( More Fundings Company Amount / Round Lead Investor [Lassie]( 23M EUR / [Series B]( [Balderton Capital]( [Cradle]( $24M / [Series A]( [Index Ventures]( [Aurrigo International plc]( 276K GBP / [Secondary Market]( - [All Recent Funding Activity]( Recent Acquisitions [Application Modernization and Connectivity]( Pending acquisition by [Rocket Software]( for $2.3B More Acquisitions Company Acquired By Amount [Fehling Instruments]( [Stille]( 410M SEK [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.