Crypto’s upward growth trajectory shows no signs of abating. At the beginning of this week reports emerged that Andreessen Horowitz, one of the most well-known VC firms in Silicon Valley, is raising between USD800million and USD1billion for their third cryptocurrency-focused fund.
The VC giant has raised two crypto funds previously — in 2018 and 2020 — but this would be the largest one to date, if the reported figures are correct. Andreessen Horowitz has used some of its funds to invest several rounds into Coinbase, which recently went public.
Also in the VC space, Blisce, a B Corp certified transatlantic growth venture capital fund that is co-headquartered in New York and Paris and which has previously backed successful ventures including Spotify, Pinterest and Headspace, launched a new fund called Blisce Fund II with a final target of USD350 million. The ESG-focused fund will make investments ranging from USD10 million to USD35 million in American and European companies on the forefront of new consumer trends.
This week’s Private Equity Wire podcast featured a conversation with Priya Karkar, investor relations representative at secondaries-focused firm Kline Hill Partners. We sat down to talk about fundraising in the ‘new business normal’ and how LP sentiment regarding committing to private funds has evolved since the onset of the global pandemic more than a year ago now.
Karkar delved into how KHP’s relationship with LPs has evolved as a result of conducting business — and more specifically fundraising — virtually; the one question she wishes LPs would ask when enquiring about secondaries strategies; and which aspect tends to be the least understood part of this particular strategy.
Looking to the future, post-Covid, the success of ESG impact investing can be secured by championing three key pillars, according to Sam Gilbert-Ward, business analyst, at Pollen Street Capital. First, building ESG into the culture of organisations by supporting initiatives with the resource it deserves; second, establishing best practice, and third, going beyond reporting, focusing on the actual impact and celebrating successes. Read the full feature to find out more.
Karin Wasteson
Editor, Private Equity Wire