Monday, 11 March 2024

This VC firm is on a hot streak

Plus, chip startup eyes IPO

March 11, 2024

Hi, Agen. Venture funding remains slow, but some firms are bucking the trend. That includes Andreessen Horowitz, which for the second straight month was the busiest U.S. startup investor, per Crunchbase data. Plus, biotech dominated last week’s 10 largest U.S. startup funding deals, a chip startup moves toward an IPO, and an otherwise seemingly slower week for tech job cuts nonetheless saw Google and a Larry Ellison-backed startup add to the tally.

🔥 a16z is on a hot streak

February may be the year’s shortest month, but that didn’t mean Andreessen Horowitz didn’t have time for a big month. The investing giant — which was also the most active venture investor globally last year and in the U.S. in January — again led the way as the busiest U.S. startup investor of the month.

🏅 Biotech leads big week for big funding deals

What a week for biotech. Startups in the sector nabbed three of the top five spots in what was another big week for really big raises — with two of $200 million or more. Other startups that raised big include companies in the asset management, AI, cybersecurity and manufacturing spaces.

See also: The Crunchbase Megadeals Board

💲 Chip startup seeks up to $534M in IPO as AI craze continues

Astera Labs is targeting a valuation of up to $4.5 billion in an initial public offering, riding a wave of interest from investors for all things AI.

✂️ Latest tech layoffs: More from Google, startups

Google and a Larry Ellison-backed biotech startup were among the companies to add to our layoffs tracker in a seemingly slower week for tech job cuts.

See also: The Crunchbase Tech Layoffs Tracker

🛒 Startups are still buying fewer startups

In all of 2023, just over 650 funded startups globally were acquired by other funded startups — the lowest total in three years — and 2024 is off to a similarly slow start, Crunchbase data shows.

Related Crunchbase Pro list: Startups Buying Startups, Global

💸 Pondering a capital raise or sale? There’s a third option, too

Like many startup entrepreneurs, you might currently find yourself at a difficult crossroads. Your company has raised decent funding, identified product market fit, and has solid and growing revenue. But the clock is ticking: Projections point to profitability in 12 months, but your runway is drying up in nine. So, what choices do you have? Startup adviser Itay Sagie walks you through three options: Raising new capital, a sale, or selling a majority stake.

🗣️ 5 ways to grow your business through feedback-driven decisions

Successful entrepreneurs depend on the feedback of their customers and need to learn to objectively receive feedback. Guest author Ivan Saprov offers five ways in which feedback-driven decisions can help grow a business.

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