| Hi, Agen. Perhaps no other startup investor exemplified the 2021 venture funding heyday like Tiger Global Management. The New York-based crossover investor participated in startup funding deals worth tens of billions that year. But now it looks like Tiger prefers to lay low in the new funding market. Today, we look at the investment giant’s funding pace this year, and what it says about the state of startup funding in 2023. Plus, a16z backs a France-based competitor to OpenAI in a $487 million deal. Even last year, as venture funding had already slowed significantly, Tiger Global Management still took part in 288 startup funding deals, Crunchbase data shows. This year, it’s down to less than 10% of that total. We look at what the venture investor has been backing — and what that might say about the state of the startup world in 2023 and beyond. Related Crunchbase Pro list: Tiger Global Venture Deals Mistral AI, a Paris-based competitor to OpenAI and Anthropic, netted $487 million in new funds in an Andreessen Horowitz-led round that values it at $2 billion, marking just the latest in a long list of massive funding deals to AI startups this year. Since spinning off from SAP in 2011, Sapphire Ventures has raised six funds, backing startups in enterprise software, AI and even sports. In the latest in our series of interviews with active AI investors, we speak with firm partner and President Jai Das about the firm’s investment focus. Related Crunchbase Pro list: Sapphire Ventures’ AI Portfolio Companies While energy led last week’s largest U.S. startup funding deals with X-energy’s closing of its Series C, artificial intelligence and biotech weren’t far behind with funding to Elon Musk’s newest venture, and a Series B for a biotech company that uses AI. See also: The Crunchbase Megadeals Board Between the incredible enthusiasm around artificial intelligence — evident in some eyebrow-raising funding deals — and piles of dry powder amassed by VC firms, the conditions are ripe for an AI bubble, argues guest author Dan Gray. He offers some thoughts on how to avoid getting caught up in a hype cycle. | 
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