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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Getty / Noam GalaiBill Maris, former CEO of GV and now the head of venture capital fund Section 32.</div></div></div>After a brief hiatus, Bill Maris is back in the venture-capital world. The Google Ventures founder, who served as the firm's CEO <a href="http://www.businessinsider.com/bill-maris-leaves-gv-2016-8?r=UK&amp;IR=T" target="_blank">until August</a>, is raising a new $230 million fund, according to <a href="http://www.recode.net/2016/12/5/13842608/former-google-ventures-ceo-raising-new-230-million-fund-focus-health-care" target="_blank">Recode's Kara Swisher</a>. The fund will be called Section 32 and will focus on health care investments. Recode reports that Maris will run the new fund himself without other partners and will remain in San Diego rather than move to Silicon Valley. Maris founded Google Ventures in 2009. It was later rebranded as GV <a href="http://www.businessinsider.com/google-alphabet-report-card-2016-8">after the company restructured as Alphabet</a> in 2015.Under Maris, GV invested in Uber, ecommerce company Jet (which <a href="http://www.businessinsider.com/walmart-is-buying-jetcom-2016-8">sold to Walmart for more than $3 billion</a> in August), and Nest, which <a href="http://www.businessinsider.com/google-buying-nest-for-35-billion-2014-1">Google bought in 2014</a>. Maris reportedly left the firm to spend time with his family, passing the torch to <a href="http://www.businessinsider.com/who-is-google-ventures-gv-david-krane-ceo-2016-8" target="_blank">David Krane</a>, who previously served as managing partner at the fund. Maris' departure from GV was <a href="http://www.businessinsider.com/alphabet-executive-departures-2016-10" target="_blank">one of many for Alphabet</a> in the last several months. Nest's Tony Fadell, Google Fiber's Craig Barratt, Project Wing's Dave Vos, and Chris Urmson, one of the original members of Google's self-driving car project, have left the company in the last year. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-block-contact-how-to-2016-11">Here's what happens when you block someone on your iPhone</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="kweDg2MzE6fu8Gh5mlcbzppfm5Dqk0ha" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The founder of Google Ventures is launching a new venture fund

<a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">Sign up to receive this newsletter in your inbox each weekday.</a>Another day, another <keyword id="11894123" type="UNKNOWN" weightage="60" keywordseo="newsletter" source="Orion">newsletter</keyword>. I'm Jordan Parker Erb, and today I'm gracing your inbox with news of a Google bot that <a href="https://www.businessinsider.com/google-engineer-thinks-artificial-intelligence-bot-has-become-sentient-2022-6">may have achieved consciousness</a>, and a completely unattainable (but terrific) <a href="https://www.businessinsider.com/porsche-taycan-turbo-s-cross-turismo-electric-car-review-2022-6">electric Porsche</a>. Ready? Let's do this thing.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a><a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">.</a> Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/why-hundreds-venture-funds-zombies-startups-dead-bankrupt-startups-2022-6"></a>1. As fundraising dries up, venture funds face a harsh reality. During the boom times of the past four years in the <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">tech</keyword> industry, more than 1,100 first-time venture funds were born. Now, with LP funding slowing to a trickle, many could turn into zombies.<ul><li>Unlike the startups they fund, venture firms do not suddenly go out of business. Instead, they face an agonizing death that can stretch over years — or even decades. </li><li>Unable to raise new capital, they slowly bleed staff, coasting on management fees while trying to salvage whatever they can of the investments they have already made.</li><li>"There's going to be a lot of walking dead venture firms," one partner predicted. "If you don't raise another fund, you're resigning. It's just a matter of time before you're dead."</li></ul><a href="https://www.businessinsider.com/why-hundreds-venture-funds-zombies-startups-dead-bankrupt-startups-2022-6">Inside the zombification of venture funds.</a>In other news:<a href="https://www.businessinsider.com/google-engineer-thinks-artificial-intelligence-bot-has-become-sentient-2022-6"></a><div type="image" title="Woman silhouette Google logo" height="1184" width="1578" msid="92180554" hostid="261"></div>2. A Google engineer said he was placed on leave after claiming an AI chatbot was sentient. He said he has spoken with the bot about religion, consciousness, and the laws of robotics, and that it wants to "be acknowledged as an employee of Google rather than as property." <a href="https://www.businessinsider.com/google-engineer-thinks-artificial-intelligence-bot-has-become-sentient-2022-6">Read the conversations that convinced him of the bot's sentience.</a> 3. For some VMware employees, work is "semi-meaningless" right now. As employees prepare for an acquisition by chipmaker Broadcom, many fear their new owner is likely to cut jobs and product lines. <a href="https://www.businessinsider.com/broadcom-acquisition-vmware-employees-layoffs-culture-clash-2022-6">Here's what VMware staffers told us.</a>4. Prime members are suing Amazon for nixing free Whole Foods delivery. Getting food delivered from Whole Foods now costs $9.95 per order, and Prime members are none too pleased. <a href="https://www.businessinsider.com/amazon-prime-members-sue-for-ending-free-whole-foods-delivery-2022-6">What we know about the lawsuit so far.</a>5. Roblox pays interns almost $10,000 a month — and it's on the hunt for young talent. With applications for Roblox's 2023 internship program opening in July, we spoke with its chief scientist who offered <a href="https://www.businessinsider.com/how-to-get-an-internship-at-roblox-salary-interview-2022-6">four tips to land a place in its coveted internship</a>.6. One of the largest crypto lenders announced it was pausing all customer withdrawals. Celsius Network said the move would "stabilize liquidity and operations" amid extreme market conditions. Celsius' price plunged as much as 60%, <a href="https://www.theverge.com/2022/6/13/23165401/defi-cryptocurrency-celsius-network-pause-withdrawals?scrolla=5eb6d68b7fedc32c19ef33b4">as the crypto market suffered a brutal weekend</a>. 7. Introducing the top 13 venture capitalists specializing in edtech investing. Coming from firms like Owl Ventures, Reach Capital, and Lightspeed Venture Partners, these VCs are helping businesses transform the way students learn. <a href="https://www.businessinsider.com/top-education-technology-edtech-venture-capitalists-to-know-2022-5">Meet the investors to keep on your radar</a>.8. Google will pay $118 million to settle a gender-discrimination lawsuit. The class-action lawsuit, which was brought forward in 2017, includes around 15,500 women. <a href="https://www.businessinsider.com/google-pays-out-118-million-to-female-staff-who-earned-less-than-men-2022-6">Get the full rundown here.</a>Odds and ends:<a href="https://www.businessinsider.com/porsche-taycan-turbo-s-cross-turismo-electric-car-review-2022-6"></a><div type="image" title="The 2022 Porsche Taycan Cross Turismo Turbo S." height="1571" width="2094" msid="92180556" hostid="261"></div>9. Porsche's $209,000 electric station wagon is terrific — and completely over the top. Insider's transportation reporter test drove the Porsche Taycan Turbo S Cross Turismo, and was stunned by its sleek look and impossible speed. <a href="https://www.businessinsider.com/porsche-taycan-turbo-s-cross-turismo-electric-car-review-2022-6">Get a look at the luxurious sedan.</a>10. An EV startup just unveiled a car that can go 43 miles per day on solar power alone. The Netherlands-based electric-vehicle startup, Lightyear, revealed its first model, which will sell for about $263,000 — <a href="https://www.businessinsider.com/lightyear-electric-car-ev-solar-powered-range-photos-2022-6">see the Lightyear 0</a>.What we're watching today:<ul><li>Oracle and others are reporting earnings. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here</a>.</li><li>London Tech Week kicks off today in — you guessed it! — <a href="https://londontechweek.com/">London</a>. </li><li>An NFT collection created by Ringo Starr is being <a href="https://juliensauctions.com/about-auction?id=417">offered at auction</a>.</li></ul>Keep updated with the latest tech news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Tech: The new walking dead? Venture funds

San Francisco, June 11 (IANS) On the lines of Microsoft venture fund M12 that is helping B2B software startups in emerging technologies, Facebook is reportedly establishing its own multi-million dollar fund to invest in "leading private companies alongside top venture capital firms and angel investors", The Axios reported on Thursday. The social media giant has been hiring seasoned tech investors within its New Product Experimentation (NPE) team to lead the upcoming venture fund. Facebook confirmed the hiring to Axios without naming the new employee to head the venture or revealing the size of the fund. "Starting a formal investing programme aimed at startups could bolster the company's ability to spot the next big social app before it becomes big," the report said. Facebook recently posted a job opening looking for a "head of investments". "In this role, you will manage a multi million dollar fund that invests in leading private companies alongside top venture capital firms and angel investors," Facebook said in the now-deleted job posting. "You will develop investment and impact theses, lead the execution of new investments, and support existing portfolio companies as needed". Facebook recently invested $5.7 billion (approx. Rs 43,574 crore) in Reliance Jio but the new venture is a different approach focused on startups. Facebook's NPE team is aimed at developing experimental apps for consumers who are still slightly removed from the core Facebook brand. It just announced a new iOS app called 'Collab', designed for collaborative creation of music videos which takes on Chinese short-video app TikTok. "Also helping manage the new fund is Shabih Rizvi, a Google and Kleiner Perkins veteran who was most recently at Gradient Ventures, one of the corporate venture firms owned by Alphabet, Google's parent company," said the report. --IANS na/

Facebook plans 'multi-million dollar' venture fund: Report

New Delhi, June 10 (IANS) Microsoft venture fund M12 on Wednesday announced it has opened its office in Bengaluru to pursue investment opportunities, focusing on B2B software startups in applied AI, business applications, infrastructure, security and vanguard technologies. M12, that arrived in the country in February last year, aims to invest in disruptive enterprise software startups in the Series A through C funding stages, targeting both local and cross-border solutions. "We see the greatest hurdles in a startup's journey as they scale from local success to global challengers, and then again when they go on to become category leaders. M12 is proud to be co-located in the region, and to bring experience and resources that will help startups successfully navigate these inflection points," said Abhi Kumar, India Lead for M12. The introduction of M12 (formerly known as Microsoft Ventures) in is creating new value for startups, VCs and the company itself to maintain the pace and direction of innovation. The company said that local presence is a step forward in M12's long-term commitment to the Indian startup ecosystem. The Bengaluru office joins an M12 network that includes San Francisco, Seattle, London, and Tel Aviv. M12 current portfolio in India includes category leaders such as Innovaccer and FarEye. Post-investment, the startups in M12's portfolio can elect to work with the fund's Portfolio Development team, which is dedicated to unlocking growth opportunities. Since its global launch in 2016, M12 has invested in 90 companies. --IANS na/

Microsoft venture fund M12 opens office in India

Fresh fish and meat e-commerce platform <keyword id="3339370" type="General" weightage="20" keywordseo="FreshToHome" source="Orion">FreshToHome</keyword> on Tuesday said it has raised $104 million in Series D funding with <keyword id="11104928" type="General" weightage="20" keywordseo="Amazon-Smbhav-Venture-Fund" source="Orion">Amazon Smbhav Venture Fund</keyword> leading the round. Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital and others also participated in this round. The funds will strengthen FreshTo'ome's mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable to millions of meat lovers" "We are 'ow a 'Pro'icorn' with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees and investors, our focus is on profitability and sustainable value cre"tion," said Shan Kadavil, CEO and Co-founder, FreshToHome. New investors joining this round include E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka. Launched in 2015, FreshToHome operates in more than 160 cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products. "Our vision with the $250 million Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology enabled companies led by visiona"y founders," said its spo"esperson. "We are excited to partner with FreshToHome for the next phase "f its growth," the spokesperson added. Two years ago, FreshToHome raised $121 million in its Series C rou'd, led by Dubai's Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital a'd US Government's development finance institution -- DFC. FreshToHome said that on a company-wide basis, it is now operationally profitable. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/how-to-compare-your-tax-liability-in-old-and-new-tax-regimes/articleshow/98116217.cms">How to compare your tax liability in old and new tax regimes</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-11r-pre-orders-to-begin-today-free-buds-z2-card-discounts-specs-and-more/articleshow/98112032.cms">OnePlus 11R pre-orders to begin today – free Buds Z2, card discounts, specs and more</a> <a href="https://www.businessinsider.in/finance/news/how-to-use-credit-card-to-make-upi-payments/articleshow/98090488.cms">How to use credit card to make UPI payments</a>

FreshToHome raises $104 mn in Series D funding round led by Amazon Smbhav Venture Fund

<div class="image-container display-table float_right"><div><div class="image"><a href="http://www.flickr.com/photos/americaswildlife/6277356510/">flickr/americaswildlife</a></div></div></div>If you're an entrepreneur who's just been given a term sheet by a venture capitalist, the jargon is probably hard to decipher without a lawyer. Many founders have signed terms that weren't in their best interest because they missed a sneaky clause. <a href="http://passioncapital.com/">Passion Capital</a>, a London-based firm, has always had downloadable term sheets available on its site but today it's doing away with all of the confusing terminology. It's uploaded a version that's written in plain English.
"It occurred to us that since all VC term sheets are non-binding anyway – and make a pretty big deal stating that – then there shouldn't be any reason for them not to be worded in plain, conversational English," Eileen Burbidge, Passion Capital partner, told us via email. "It all just pointed to one extra needless step -- full of formality -- that we were glad to get rid of."
The term sheet can be downloaded on Passion Capital's website, but we've also included the full text below:
 [Date] Passion Capital Term Sheet for [Non-Hipster Limited] We, Passion Capital LP, want to invest money in your company, [Non-Hipster]. Structure of Financing We’re making you an offer of a £ [ ] investment as your seed round. This investment will be for [ ] % of the ownership in your company. Your company will issue to us the same type of common shares that you already have. Option Pool Our offer assumes that you’ve already or will set up an employee stock option pool before our money goes in, so that our ownership is "fully-diluted" after accounting for that option pool. We think you'll need at least a 10% option pool after the investment round in order to hire some key management team members and senior people. To make this really clear, see the attached table to see how this looks with actual shareholding and ownership percentages after the investment. Conditions to Close Before we sign the paperwork and transfer our money, we have to do some basic due diligence on the company and also on you, the founders. This includes anti-money laundering checks and having you complete a Founder’s Questionnaire. We also want to see that all of the company's relevant employees and freelancers have signed employment or similar contracts which make it clear that the company owns all of the intellectual property that’s been created for the business you’re building. At the same time, if you haven’t already done so, you should also do a bit of due diligence on us. For example, speak to some of our existing founders and get a feel for what they think of us. We’d be glad to make introductions if it helps. Estimated Closing Date We’ll use our standard legal agreements which you should review, preferably with a lawyer to help (and again, maybe also speak to a couple of founders who will have seen and agreed to the same docs). We hope that we can wrap this all up and finish the investment round with signed paperwork and money in your account no later than 4 weeks from today, [date]. Documentation and Warranties It’s worth mentioning that our standard investment docs will include some “representations and warranties”. These are assurances that you give to us that the business we’re investing in is what you say it is. Normally investors have the right to financial claims against the founders if they’ve misrepresented the business, but we limit our right to claim so that it’s only against the company, not the founders, and the amount can’t be more than the amount we’re investing. Liquidation Preference We’re not asking for any complex preference rights (see pointers here <a href="http://bit.ly/128FxX2" target="_blank">http://bit.ly/128FxX2</a> and here <a href="http://bit.ly/1bR0efR" target="_blank">http://bit.ly/1bR0efR</a>), but we do ask for a so-called simple 1x liquidation preference. This means that if the company is sold, we’ll get the higher of either the amount of our investment or our ownership percentage of the sale value. In the worst case if the company is wound down with very little left, then anything left would be distributed to us in proportion to our ownership. Important Decisions We’re here to support you, not to interfere in your day-to-day business operations, but we do have a list of decisions that we believe should be approved by a majority of the investors. This includes issuing new shares, raising new finance, selling the business, etc. You can see the full list <a href="http://swipe.to/1472" target="_blank">http://swipe.to/1472</a>. Pre-emption Rights We think all shareholders, including the founders, should have the right to invest in future financing rounds to avoid being diluted. This doesn’t mean shareholders have to put more money in, but if they want to and are able to, they have that right to maintain their ownership in any future <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> round. Right of First Refusal and Co-Sale If any shareholder wants to sell their shares to someone else, we and other investors have the option to buy those shares on the same terms or to sell our own shares, again on the same terms. Drag-Along If shareholders, which of course includes you, owning more than 50% of the shares in the company want to sell their shares (typically to accept an acquisition offer) then, as long as the board and a majority of the investors approve it, all other shareholders must also sell their shares. This protects all shareholders from, say, one small, stubborn shareholder refusing to sell their shares in an acquisition offer and blocking a deal everyone else wants to see happen. Restrictive Covenants We don’t want any of you to start a competitive business or to leave and take team members with you to another business even if it’s not competitive. That’s not why we are investing in the company and your co-founders wouldn’t be very happy with you either. These restrictions apply for as long as you’re employed by the company or hold at least 10% in equity and for 1 year after that. Founder Shares Even after our investment, you the founders will normally own the majority of the shares in the company. However, our nightmare scenario is that we invest and then the day after you skip off to Timbuktu and we’re stuck as shareholders. It may sound far-fetched, but it happens. We are fundamentally investing in you and your co-founders for the long haul and we expect you to have the same view. Making your shares subject to reverse vesting protects us and your co-founders if one of you changes your mind. Your shares will be earned monthly over 3 years meaning, for example, that if you give up on the team after 12 months, the company has the right to buy back two-thirds of your shares from you. Board of Directors We think you should control your board, but we generally like to have a seat too. We don’t take board control. Sometimes it makes sense for us just to have a less formal observer, non-voting seat. Information Rights We’d like to get regular status updates from you in whatever format makes most sense for us all. For our own fund reporting purposes we’ll need monthly financial reports from you. Expenses You pay for your legal costs and we pay ours. We don't see why we’d invest cash in your business only for some of it to come straight back out in order to pay our legal bills. We see whatever this deal costs us as our cost of doing business. Exclusivity If we both sign this term sheet, it means we’ll all be putting time and effort into completing the investment over the next 4 weeks. We don't want you to keep pitching to other investors potentially to replace us during that period. If you decide to switch to another investor in that period and it's not because we've done anything wrong, then we might charge you for our costs. Confidentiality We trust your judgement in deciding who to talk to about this offer and when. This is a non-binding offer and things can unfortunately always fall through, so it's really not in your interest nor ours to pre-announce anything until it's done. Non-binding Effect This document isn't legally binding but we're still pretty excited about it and the prospect of working with you. Expiry We hope you’ll decide relatively quickly on whether or not you want to move ahead with us. Obviously it's a big decision so don't take it lightly, but time is your most valuable asset right now and the quicker we move forward and get cash into the company, the quicker you’ll be able to focus on building a great business. This offer remains open until we email you to tell you that we've moved on. Acceptance If you’re happy with all of this, sign below, or just tell us so in an email reply. Thanks for giving us the chance to pitch to you! ------------------------------
<div id=":10n" style="padding-left: 30px;">-------------------- Offered by [Partner] Passion Capital [Date] -------------------------------------------------- Signed and accepted above by Name: ------------------------------------ Company: ------------------------------- Date: --------------------------------------</div>

What A Straight Forward, Non-Jargony Term Sheet From A VC Looks Like

New Delhi, Mar 5 () A venture fund is being provided by the Ministry of Development of North Eastern Region (DoNER) for the growth of entrepreneurship and to encourage start-ups in the region, Union Minister Jitendra Singh said on Thursday.Singh informed Rajya Sabha that the North East Venture Fund (NEVF) was formally launched in 2017 with joint efforts of the Ministry of DoNER and North Eastern Development Finance Corporation Ltd (NEDFi) to encourage start-ups and empower entrepreneurs from the North Eastern Region (NER).It is a close-ended fund with capital commitment of Rs 100 crore and the investment ranging between Rs 25 lakh and Rs 10 crore per venture, which is long term in nature with investment horizon of 4-5 years, he said in reply to a written question.Singh said the NEVF team has vigorously been participating in various events, seminars, conclaves, etc., across the Northeastern region and interacted with start-ups, both on one-on-one and group basis, to promote the fund.The team members have also interacted with various venture funds, incubators in the venture capital eco-system, he said.Singh, Minister for DoNER, said over the last three years, 212 enquiries and applications were received across sectors like agri-allied, healthcare, biotechnology, education, food processing, tourism, logistics, parking, aggregation of services, entertainment, etc.Among these, 40 proposals have been taken to the investment committee for perusal and 22 proposals have received investment commitment.The NEVF till date has made a disbursement of Rs 18.16 crore to 12 start-ups, he said. ACB ACB RDMRDM

Venture fund provided by govt for start-ups, entrepreneurship in NE

New Delhi, Feb 24 () Blume Ventures on Monday said it has completed the final close of its opportunity fund, titled Fund IIA, at USD 41 million. Fund IIA was raised in parallel to Blume's new USD 102 million-Fund III announced last week. "Blume Ventures completed the final close of its opportunity fund, titled Fund IIA, in December 2019. The final close was at USD 41 million, raised from both domestic and international investors," a statement said. Many of these are existing Blume investors, it added. While Fund III targets new emerging startups, Fund IIA will invest in follow-on rounds of winners of Funds I, IA and II, the statement said. Blume had marked the first close of Fund IIA at USD 22 million in second half of 2018, it added. As many Fund I and II companies began to breakout, there were two counter-intuitive trends that were playing out, Karthik Reddy, co-founder and Investment Team member at Blume Ventures, said. "We were playing a very active role in most of them even beyond Series B - on boards and leveraging the powerful Blume Platform Team, whereas we had little or zero reserves for any of these stars. Our LPs saw the rationale and sponsored our opportunity fund strategy," he added. SR ANU

Blume Ventures closes Fund IIA

<div class="KonaFilter image-container float_right"><div class="image on-image"></div></div>
Maverick Capital is launching a $50 million venture-capital fund, joining a growing number of Wall Street firms that are cashing in on Silicon Valley.
<a href="http://online.wsj.com/articles/hedge-funds-add-to-venture-capital-bounty-1414021436">The Wall Street Journal's Juliet Chung</a> reports that Maverick's fund will focus on companies in the software, healthcare and consumer industries. 
It launches on January 1.
Maverick Capital is helmed by Lee Ainslie. The fund has returned 12% since its founding in 1995. The S&amp;P 500 has returned 9.4% over the same period.
This will not be the first time Maverick is investing in the startup space. With some large investment banks, <a href="http://www.businessinsider.com/goldman-about-to-buy-a-bloomberg-killer-2014-8">it bought a stake in Perzo</a>, the instant messaging startup that will rival the Bloomberg terminal's chat function.
Maverick has returned about 12% on average every year since 1995, compared to 9.4% for the S&amp;P 500.
But some experts are warning that Wall Street's rush to Silicon valley may be making some startups overvalued.
According to the Journal:
"A similar dynamic played out in the dot-com boom, when money managers flocked to venture-capital investing after years of eye-popping valuations. Many of those managers got in just before the Internet bubble burst.
David York, managing director of the San Francisco-based Top Tier Capital Partners LLC, which invests client money in venture funds, sounded a similar worry.
"We are far more cautious today than we were two years ago because of the money flowing into the late-stage space both from hedge funds as well as from mutual-fund companies," he said in an interview."
<a href="http://online.wsj.com/articles/hedge-funds-add-to-venture-capital-bounty-1414021436">For the full story head to the WSJ&gt;</a>

Hedge Fund Superstar Lee Ainslie Is Launching A Venture Capital Fund

<ul><li><keyword id="3189966" type="PERSON" weightage="20" keywordseo="Venture-Catalysts">Venture Catalysts</keyword> has launched a new fund called 9Unicorns of ₹300 crores.</li><li>The fund will invest in 100 startups every year with a focus on startups in the segments of Electric Vehicles, mobility, Augmented Reality VR, AI and ML, fintech, retail &amp; FMCG.</li><li>It will invest ₹60 lakh for 5% equity in the initial stage.</li></ul>Mumbai-based incubator and fund Venture Catalysts announced a new fund called 9Unicorns with an outlay of ₹300 crores. The 9Unicorns fund claims to be the first ‘accelerator VC’ in India, and aims to invest in 100 startups every year. The fund will focus on early stage startups from segments such as electric vehicles, mobility, augmented reality VR, AI and machine learning, fintech, retail and FMCG. The fund hopes to identify the next set of unicorns and help them grow. India is home to over 600 accelerators. Yet, it is much lower than that of China and the US, which have over 32,000 and 20,000 accelerators respectively. The fund will mentor startups and help them grow faster, as a part of a 13-week programme. If a startup shows promise, it will invest ₹60 lakh for 5% equity and could follow up with a round of ₹3-5 crore going ahead. “9Unicorns Fund will revive idea stage funding in India,” said Dr. Apoorv Ranjan Sharma, Co-Founder and Managing Director, 9Unicorns. “The startups from the fund will benefit from ready access to business angels, Venture Catalyst’s corporate community of over 4,500 members. They will also be able to access markets across 26 cities across the world as well as tier-II, III and IV cities in India to build a large customer base quickly,” he added.

Venture Catalysts launches a ₹300 crore ‘idea stage’ fund to net next unicorns

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://techcrunch.com/2013/01/06/meet-mike-rothenberg-the-27-year-old-whose-seed-fund-could-be-the-best-bang-for-your-cap-table-buck/">TechCrunch</a>Mike Rothenberg is the sole member of Rothenberg Ventures and he worked hard to get there.</td></tr></table>Mike Rothenberg has always been interested in entrepreneurship. Now, the 28-year-old is running a one-man <keyword id="6357097" type="COMPANY" weightage="60" keywordseo="venture-capital">venture capital</keyword> shop, <a href="http://rothenbergventures.com/">Rothenberg Ventures</a>, with $5 million to invest in <keyword id="6362513" type="ORGANIZATION" weightage="60" keywordseo="Startups">startups</keyword>.
It's similar to what <a href="http://www.businessinsider.com/joshua-kushner-2010-9">Joshua Kushner did a few years ago when he started Thrive Capital.</a> Then, Kushner was 25 and he put his money in 15 startups. He's since raised a few larger funds and invested in startups like Instagram.
<a href="http://techcrunch.com/2013/01/06/meet-mike-rothenberg-the-27-year-old-whose-seed-fund-could-be-the-best-bang-for-your-cap-table-buck/">TechCrunch's Josh Constine interviewed Rothenberg</a> about how he hustled his way to the $5 million fund. Rothenberg was a couch surfer who had to network from coast to coast to create his dream job.
Here's how he did it. At Stanford, Rothenberg ran a program called Entrepreneurial Thought Leaders. He wrangled tech leaders like Marissa Mayer and Mark Zuckerberg and asked them to speak with students about startups.
Rothenberg often asked them how they became successful. The usual reply was, "You might fail at whatever you do, so you might as well dream big, because then if you succeed, you succeed big."
Rothenberg took that advice to heart. He founded a 25-person tutoring company in college, started a real estate fund, then went on to Harvard Business School. In May he decided to go for his dream of starting Rothenberg Ventures.
Like any strapped-for-cash entrepreneur, Rothenberg tried to live as efficiently as possible while seeing the fund through. "I rented out my apartment, wasn’t paying a lease anywhere, and traveled to six different cities to meet 50 investors, 50 potential LPs, and 50 entrepreneurs," he tells Constine. "I slept on couches so I didn’t have to get a hotel room the entire summer.”
After months of meetings, 14 limited partners committed $5 million to Rothenberg Ventures. The LPs range from investors, such as DFJ's Brandon Farwell, to wealthy individuals. The LPs are from Massachusetts to California on down to Texas.
Rothenberg thinks his young age actually helped him win over LPs. He tells Constine, “Almost all my deal flow comes from entrepreneurs, people at Stanford with me, people at Harvard with me. I know a lot of people our age. The average age of my LPs is significantly older than me, and they don’t necessarily have access to these deals.”
Rothenberg is still working hard now that he's raised his fund, and he's already backed seven startups. His portfolio includes a sports media company, Chat Sports, and a clothing startup called Chubbies.
When asked why he didn't get experience at another firm before taking a leap of faith, Rothenberg replied, "I think it’s wrong to think you’re necessarily going to learn the most by paying your dues. People who work at a big company aren’t engaged. That’s a slower trajectory. But if you’re young and jump in, sure you’re going to make a bunch of mistakes but you’re going to learn quickly.”

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