Collate Capital Launches for Early Stage Biz
Collate Capital, based in New York City, announced its debut today. The tech focused investment firm plans to invest in “promising early stage businesses in North American and Europe.” It particularly wants to help fund businesses that are “innovative, differentiated and ready to scale.”
The firm, founded by veteran investor Mark Weaver, will invest up to $2 million (per investment) in technology, software, market infrastructure and direct-to-consumer businesses. It’s target funding stages will be seed to Series B rounds.
Goodyear Rolls With New VC Fund
Goodyear has announced it has formed a new venture capital fund, Goodyear Ventures, with $100 million slated for new investments for future mobility concepts over the next decade. Goodyear announced the new VC fund at CES2020, stating it wants to help develop sustainable, safe and modern mobility experiences. The new concepts Goodyear is interested in include electric and autonomous tech, connected mobility, aviation, infrastructure, maintenance and future tire materials (of course!)
Company chairman, CEO and President Richard J Kramer said “Goodyear is a technology-driven mobility company that seeks out and partners with other mobility thought leaders ranging from small startups to proven business models. Goodyear Ventures will take this effort to the next level to engage and shape how people move in the future.”
People On The Move
Bennin Promoted at NewU Venture Partners
NewU Venture Partners, GP, LLC, an education-tech venture fund, has named Andre “Dre” Bennin Managing Partner of the fund. Bennin has nearly a decade in experience in corporate development, fund management, operations leadership, and government relations to the fund. Bennin joins the fund in partnership with Epic Ventures’ Nick Estratis and Kent Masden. They will collectively lead the fund’s investment committee, which will oversee planning and oversight of investment objectives.
By The Numbers
Healthcare Venture Fundraising Breaks Record
According to Silicon Valley Bank, banker for the tech industry’s biggest companies, United States based healthcare venture funding hit $10.7 billion last year, breaking a record for the third straight year. Biopharma, medical device, diagnostics, tools and health tech raised $32 billion in 2019, a sight decreased from 2018. SVP details their findings in their annual report found here.