Hi Aaron Wineman here. Today I want to highlight startup founders who use their entrepreneurial experience to invest in other startups.
It’s not the easiest environment for a young business right now, but here are 32 founders who are betting on their peers.
Let’s get into it.
If this was forwarded to you, register here. Download the Insider app here.
1. Many startup founders are also active investors in other startups. They use their connections and start-up know-how to help — and get a stake in — other budding entrepreneurs with potentially game-changing businesses.
In recent years, more early-stage startups have moved away from large sums of VC money and opted for smaller checks from individual investors. And these people often run their own company as a side job.
That’s not to say it’s not a daunting task for startups right now. Venture capital funds have tightened their purse strings when it comes to investing in early-stage companies, and any would-be startup darling harboring hopes of going public has likely had to put those ambitions on hold as investors move on shaky ground. public markets.
But even in a financial crisisthese founders write checks for their colleagues.
In this list, Insider’s Melia Russell tapped a network of founders and investors to identify who is running companies while investing in others.
They all still work at the startup they founded, and to qualify, their startup had to have raised more than $3 million in funding. Finally, to make the list, they had to have written at least two checks to startups, such as an angel investor or fund manager, since January.
Here’s a look at 32 active startup founders who are betting on their fellow entrepreneurs.
2. Banks have invested billions of dollars in these 19 crypto startups since last year. Here are their favorite startups, from Blockdaemon to TRM Labs.
3. Twitter wins first round in legal battle against Elon Musk. The Delaware Court of Chancery granted the social media platform’s request to move the case on an “expedited” schedule.
4. Financial issuer Euromoney has agreed to a private equity sale that values the company at about $1.9 billion. Euromoney, known for industry publications such as Institutional Investor and Metal Bulletin, will be sold to a consortium of investors led by French firm Astorg.
5. Jefferies is getting rid of its last major stake in conglomerate Leucadia National, the Wall Street Journal reported. The asset sale and spin-off will allow Jefferies to focus on investment banking.
6. Pimco is buying just over $1 billion in Apollo buyout loans from banks, according to the Financial Times. The investment management firm bought the loans from the banks that guaranteed Apollo’s acquisition of Worldline’s payment terminal business.
7. Anthony Scaramucci’s SkyBridge halted withdrawals from one of its funds as the stock market worsened. The Legion Strategy fund also holds 10% in crypto, which has taken a beating recently.
8. A Nike-backed hands-free shoe company took in $20 million in venture capital commitments. HandsFree Labs has already raised about $34 million since 2019 as the sneaker becomes more popular.
9. Healthie, a a healthcare startup focused on improving virtual care has just secured $16 million in Series A funding. Here’s the 18-slide deck he used to land a commitment from Velvet Sea Ventures.
10. Citadel’s Ken Griffin pisses off his new Florida neighbors, according to the Daily Beast. The hedge fund executive — whose firm announced in June it was moving its headquarters from Chicago to Miami — has amassed a patch of land in Palm Beach, and his neighbors complain about the “unusual size.”