Limited partners will impact your venture fund’s culture — choose wisely
- Since launching my fund almost a year ago, I’ve learned that limited partners (LPs) will inevitably influence your firm’s culture in one way or another — and I think a lot about how to manage this so that we nurture our community in a way that helps our portfolio companies feel safe and grow.
- There is a reason I feel so strongly about the values of my LPs. The influence that a limited partner has on your culture can, and will, find its way into how you build and maintain relationships with your portfolio companies and will impact the types of teams you attract.
- Fund managers have to be independent; we get hired because we think differently, and this is how we help LPs come to the returns they want to receive.
How crowdsourcing shipping through technology will make last mile delivery cheaper
- Like Uber and other ride hailing apps, a number of crowdsourced delivery solutions have been cropping up over the past few years to ease these pains by connecting customers directly with local couriers.
- The crowdsourcing model is already popular among meal and grocery delivery and, seeing the success of startups like Uber, Airbnb, and GrubHub, e-commerce retailers are now eyeing it to fulfill their online orders.
- Launched in 2015 and piloted in Seattle, Amazon Flex lets customers order and receive packages through its on-demand delivery service, Prime Now, which guarantees free one- and two-hour deliveries.
- Deliv is a general use last mile solution offering same-day service to over 4,000 omnichannel businesses in 35 cities across the country.
- Rather than just fulfilling ad hoc deliveries for consumers, Deliv seeks to be a long-term business partner solving companies' last mile problem — evidenced by its breakdown into Deliv Small Business, Deliv Enterprise, and Deliv Fresh for groceries.
This early GDPR adtech strike puts the spotlight on consent
- But late last month French data protection watchdog, the CNIL, announced the closure of a formal warning it issued this summer against drive-to-store adtech firm, Fidzup — saying it was satisfied it was now GDPR compliant.
- Returning to Fidzup, its fix essentially boils down to actually offering people a choice over each and every data processing purpose, unless it’s strictly necessary for delivering the core app service the consumer was intending to use.
- In Magnan-Saurin’s view, six months in to GDPR European startups are at an R&D disadvantage vs tech giants because U.S. companies like Facebook and Google are not (yet) subject to a similarly comprehensive privacy regulation at home — so it’s easier for them to bag up user data for whatever purpose they like.
Construction management software developer Procore raises $75 million at a $3 billion valuation
- Procore Technologies, a provider of software to manage construction projects, is now worth $3 billion thanks to a new $75 million round of funding led by Tiger Global Management.
- SoftBank kicked off 2018 by investing $865 million in Katerra — one of many early mega-deals from the firm’s giant Vision Fund — which touts itself as a one-stop shop for everything from planning to permitting to filling new building construction.
- Taking new money from Tiger Global to expand makes sense, given the competitive advantage that PlanGrid gained in the market by tying up with a $30 billion powerhouse in software development for the architecture, design and construction industry.
- Autodesk is the maker of AutoCAD — one of the fundamental tools that architects, designers and construction companies use for two and three-dimensional renderings of buildings.
TNB Aura closes $22.7M fund to bring PE-style investing to Southeast Asia's startups
- TNB Aura, a recent arrival to Southeast Asia’s VC scene, announced today that it has closed a maiden fund at SG$31.1million, or around US$22.65 million, to bring a more private equity-like approach to investing in startups in the region.
- The fund is targeting Series A and B deals and it has the firepower to do 15-20 deals over likely the next two to three years, co-founder and managing partner Vicknesh R Pillay told TechCrunch in an interview.
- Already it has backed four companies including TradeGecko, which raised $10 million in a round that saw TNB Aura invest alongside Aura, and AI marketing platform Ematic.
- Outside of Singapore — which is a heavy focus thanks to the relationship with Enterprise Singapore — TNB Aura is focused on Indonesia, the Philippines, Thailand and Vietnam, four of the largest markets that form a large chunk of Southeast Asia’s cumulative 650 million population.
Accenture will acquire digital ad company Adaptly
- Accenture announced today that it’s reached an agreement to acquire Adaptly.
- While Adaptly has mostly stayed out of the headlines for the past few years, the company now has nearly 150 employees and works with advertisers like Chico’s, Mazda, Prudential and Sprint.
- Once the deal closes, it will become part of the Accenture’s digital marketing arm, Accenture Interactive Operations.
- The financial terms of the acquisition were not disclosed.
- It looks like Adaptly hasn’t raised outside funding (or at least hasn’t announced any funding) from investors since 2012.
- Those investors include Valhalla Partners, Time Warner Investments, First Round Capital, Charles River Ventures and Lerer Hippeau.
- Wildfire Only Sells Ads Through Its Partner Adaptly, So Will Google Buy Them Too?
Kony Helps Australia’s Largest Credit Union Deliver Personalized Banking
- Kony, Inc., a leading provider of digital banking solutions, today announced that CUA, Australia’s largest credit union, has launched its new chat app powered by Kony DBX Engage called iM CUA, the first app in Australia to allow users to select a personal banker to assist with their banking and insurance needs.
- What differentiates iM CUA from other instant messaging apps in the financial industry is the ability for members to select their own personal banker who gets to know them and supports them with their banking and insurance requirements every time they use the app.
- The iM CUA app is the member-owned organization’s first initiative delivered from CUA’s collaboration with Pivotus Inc., an international collaboration with leading banking providers including Umpqua Bank and the Netherland’s de Volksbank.