Yazılar

Blockchain Firm Movement Labs Seeks $3 Billion Valuation in $100 Million Funding Round

/in /tarafından

Movement Labs, a blockchain development firm, is in the process of raising $100 million in a Series B funding round that could place the company’s valuation at $3 billion, according to a source familiar with the matter. The round is being led by crypto-focused investor CoinFund, with additional participation from Brevan Howard’s digital asset division.

Both CoinFund and Brevan Howard declined to comment on the details of the deal.

This funding round comes as startups in the cryptocurrency space are seeing renewed interest from investors following easing regulatory pressures and a market rebound from the lows experienced after the FTX collapse. The venture capital landscape is also benefiting from a recovery in dealmaking, spurred by interest rate cuts, which provide better opportunities for exits.

Global venture capital activity rose more than 5% to $368.5 billion last year, according to PitchBook.

Movement Labs raised $38 million in its previous funding round last year, and plans to use the new funds to enhance its product offerings, expand its presence in the Asia-Pacific region, and grow its team. The company was founded in 2022 by Vanderbilt University dropouts Cooper Scanlon and Rushi Manche, with a focus on creating a faster, more accessible blockchain. They also released their native token last month.

 

Iconiq Growth Expands Leadership with Datadog’s Amit Agarwal as General Partner

/in /tarafından

Iconiq Growth, the venture arm of Iconiq Capital, has appointed Amit Agarwal, President of cloud-based analytics firm Datadog, as a general partner in a strategic move to expand its leadership team. Agarwal brings over 12 years of experience from Datadog, a company that has been part of Iconiq’s portfolio for years.

In his new role, Agarwal will focus on software startups, particularly as artificial intelligence continues to reshape the technology landscape. Having worked closely with Iconiq Growth since its initial investment in Datadog in 2015, Agarwal’s ties to the firm run deep, especially through his relationship with Iconiq partner Matthew Jacobson, who sits on Datadog’s board.

“I want to join a multistage firm where I can invest in companies at different stages of their growth,” Agarwal stated. He emphasized the significant role Iconiq plays as a partner to its portfolio companies, leveraging its vast network of high-net-worth individuals, including influential tech figures like Mark Zuckerberg and Jack Dorsey, to support founders.

This addition to the leadership team follows Iconiq Growth’s expansion, which included five new partners last year, bringing the total to 16. The firm closed a $5.75 billion fund in 2024, despite a broader decline in venture capital fundraising, according to PitchBook. The larger fund size enables Iconiq Growth to delve deeper into early-stage investments, with half of their recent investments going to startups with revenues under $10 million.

Recent hires at Iconiq Growth have focused on experienced executives from major companies, also known as operators, further reinforcing its commitment to active engagement with portfolio companies.

 

Intel to Spin Off Its Venture Capital Arm, Intel Capital

/in /tarafından

Intel Corp announced on Tuesday that it will separate its venture capital and investment arm, Intel Capital, into an independent entity to streamline operations and improve efficiency across the business. While Intel will remain a key investor, the transition is set to be completed by the second half of 2025, with the new company adopting a different name. The existing Intel Capital team will be integrated into the new entity.

David Zinsner, Intel’s interim co-CEO and CFO, described the move as a “win-win scenario,” emphasizing that it would provide Intel Capital with access to new capital sources for growth while allowing both entities to maintain a long-term strategic partnership.

Founded in 1991, Intel Capital manages over $5 billion in assets and focuses its investments across four major tech areas: silicon, frontier technologies, devices, and cloud computing. The announcement came shortly after identity security startup Orchid Security raised $36 million in an early-stage funding round, with Intel Capital as a lead investor.