FinTech news in fundraising category
In a world where advice for founders comes from all angles and seemingly everyone is a an expert, Operator Collective thinks the connections it can foster between its portfolio companies and operator network can cut through the noise and keep its relevance as more firms look to offer a similar value-add. She said that unlike other firms that maybe have one retired operator who was a CMO or one person just focused on hiring, Operator Collective’s network has multiple professionals from each area with a focus on underrepresented operators. Operator Collective founder and CEO Mallun Yen said while there are a few changes for Fund II, the goal and structure are largely the same: Creating a community where startups and operators can help each other. When Operator Collective started in 2018, its idea of cultivating a community of operators as LPs to serve as a resource to its portfolio companies was unique.
AC Ventures (ACV), a venture firm focused on early-stage startups in Indonesia and the rest of Southeast Asia, has reached the first close of its fifth investment fund (Fund V). Li said global investors are drawn to Southeast Asia as it continues to show evidence of being a maturing market, with the successful IPOs of unicorns like GoTo and Bukalapak, an increase in later-stage capital and more secondary exits. Li said that ACV typically invests in 10 to 12 companies per year across its funds, and that continues despite the global slowdown in venture capital investing. ACV’s efforts to help founders include several key appointments who will work closely with startups — Lauren Blasco as head of ESG, Leighton Cosseboom as head of PR and communications, and Alan Hellawell as a senior adviser and venture partner.
The new product has been created in partnership with National Philanthropic Trust (NPT) and Vanguard Charitable and allows Donor-Advised Fund (DAF) sponsors, community foundations and other grantmakers to move their donations electronically through PayPal’s platform. The company additionally notes it has entered into a commercial arrangement with grantmakers, like National Philanthropic Trust and Vanguard Charitable, to enable them to provide this new solution to their charitable communities. Back in 2016, for instance, PayPal added a new button inside its mobile app to connect users to its thousands of PayPal Giving Fund certified charities, which previously were only available online. In addition to moving money quickly, the system includes an online Grant Payments dashboard available to grantmakers and charities alike where they can view all the grant details, including the donor information, which can be exported to help simplify record keeping.
After assessing the current market conditions and uncertainty we’re seeing across the e-commerce sector, this was the most prudent action to take and was necessary to.
Interplay current offerings include a venture capital arm that houses two early-stage funds, a foundry that helps build companies from scratch, an incubator to support existing companies and a family office.
Pulley is also helping companies weather this economic downturn, and though most of the companies Pulley works with are at an earlier stage and aren’t seeing the kinds of layoffs occurring in later stages, I asked Wu what kinds of questions Pulley was getting from customers.
Another crypto nonprofit platform, The Giving Block, has also already taken in $1.5 million in crypto donations and announced a campaign yesterday to raise $20 million in cryptocurrency for its Ukraine Emergency Response Fund supporting a variety of accredited nonprofit groups, including United Way Worldwide and Save the Children, according to a webpage for the campaign.