🌐Fewer Small and Midsize Venture Funds Closing This Year Amid Sluggish Fundraising Environment
In 2024, only 118 U.S. venture funds under $500 million have closed, the lowest in years, as economic headwinds and a slowdown in tech IPOs and exits impact fundraising efforts. Despite fewer funds, some standout funds in sectors like cleantech and cybersecurity have successfully raised capital.
🌐Fewer Small and Midsize Venture Funds Closing This Year Amid Sluggish Fundraising Environment
In 2024, only 118 U.S. venture funds under $500 million have closed, the lowest in years, as economic headwinds and a slowdown in tech IPOs and exits impact fundraising efforts. Despite fewer funds, some standout funds in sectors like cleantech and cybersecurity have successfully raised capital.
At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegram’s user base is already fairly crypto-savvy. It raised an initial tranche of cash – worth more than a billion dollars – to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised. Since its launch in 2013, Telegram has grown from a simple messaging app to a broadcast network. Its user base isn’t as vast as WhatsApp’s, and its broadcast platform is a fraction the size of Twitter, but it’s nonetheless showing its use. While Telegram has been embroiled in controversy for much of its life, it has become a vital source of communication during the invasion of Ukraine. But, if all of this is new to you, let us explain, dear friends, what on Earth a Telegram is meant to be, and why you should, or should not, need to care. Markets continued to grapple with the economic and corporate earnings implications relating to the Russia-Ukraine conflict. “We have a ton of uncertainty right now,” said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors. “We’re dealing with a war, we’re dealing with inflation. We don’t know what it means to earnings.” "Someone posing as a Ukrainian citizen just joins the chat and starts spreading misinformation, or gathers data, like the location of shelters," Tsekhanovska said, noting how false messages have urged Ukrainians to turn off their phones at a specific time of night, citing cybersafety. On Feb. 27, however, he admitted from his Russian-language account that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian events."
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