As 2023 continues, there are many predictions of what may come next:
- Startups will be looking for alternative means of raising cash
- Sales slowing
- Valuations decreasing
- More M&As ahead
Q1 2023 deal data ended close to Q4 2022; we’re only one quarter into 2023, and it’s too early to tell how this year will fare. True, 2023 deals and funding are down, but remember that 2021 was a year unlike any other. Deals are still happening, funding amounts have declined, and startups are buying startups, which may not be a good idea in retrospect. You can read all about the biggest acquisition losers recently featured in Crunchbase.
Some notable trends this week:
- The bank is closed- another one bites the dust while JPM picks up the pieces of First Republic. This ‘trend’ needs systematic action.
- Blockchain was this week’s category winner, with FinTech a close second.
- This week’s #1, Super.com, has attracted well-known individual investors, including NBA’s Steph Curry. We are seeing more individual investors in 2023, funding outside of VCs.
Here are this week’s Top 5 VC Deals…
1Super.com
$85M Series C, Capital | Equity| SF | Payments | Inovia Capital, Harley Finkelstein, Deb Liu, Allen Shim, Josh Proctor, Chris Best, Neha Narkhede, Mike Lee, Hyphen Capital, EDC, Plaza Ventures, Telstra Ventures, Acrew, Lion Capital, Full In Partners, Steph Curry | https://www.super.com/
LinkedIn Overview:
“Super.com is a technology company at the intersection of fintech and commerce that empowers users to spend less, save more, and build credit – so they can make the most of life…”
2Clara
$60M, Capital | Equity | Brazil | Payments | GGV Capital, Acrew Capital, Citi Ventures, Endeavor Catalyst, Ethos, Commerce Ventures, Goanna Capital, Bayhouse Capital, Fluent Ventures, monahsees, Coteau, Picus Capital, DST Global Partners, General Catalyst | https://www.clara.com/
Website Overview:
“Clara is the leading spend management platform for companies in Latin America. Our end-to-end solution includes our locally-issued corporate cards, Bill Pay, financing solutions, and our highly-rated software platform used by thousands of the most successful companies across the region…”
3Zodia Custody
$36M, Capital | Equity | UK | Crypto| SBI Holdings, SC Ventures | https://www.zodia.io/
LinkedIn Overview:
“Zodia Custody is an institutional grade crypto custody solution By Standard Chartered and in association with Northern Trust. We provide custody for crypto assets, designed to enable institutions to invest safely in the emerging assets that are transforming how financial markets operate.”
4iZUMi Finance
$22M, Capital | Equity | Japan | Blockchain | Unicode Digital, NextGen Digital Venture, Bella Protocol, Incuba Alpha | https://izumi.finance/home
Website Overview:
“Liquidity Redefined- A multi-chain DeFi protocol providing One-Stop Liquidity as a Service (LaaS).”
5Axoni
$20M | Equity | NYC | FinTech | EJF Ventures, Laurion Capital Management, Communitas Capital | https://axoni.com/
LinkedIn Overview:
“Axoni is a provider of data synchronization technology and market infrastructure software for the world’s leading financial institutions.”
