Venture Capitalists Kick Off the New Year With Billions in Fresh Funds
Venture capital firms start 2019 by filing SEC paperwork for massive new funds, while major rounds flow to Niantic, Indian startups, and supersonic travel.
Venture capitalists celebrate the start of the new year by filing SEC paperwork for massive new funds. Notable raises include Mary Meeker's new firm Bond, which aims to secure up to $1.5 billion, while Union Square Ventures brings in $429 million across two funds. Lightspeed Venture Partners announces a $560 million fund dedicated to China, and Atlas Venture closes $250 million for biotech investments.
Beyond the fresh VC funds, several startups secure impressive individual rounds this week. Pokémon GO creator Niantic closes a $190 million round at a $3.9 billion valuation, while Indian online car marketplace CarDekho pulls in $110 million. Boom Supersonic raises $100 million to build an economically viable supersonic airliner, demonstrating continued investor interest in ambitious future tech.
Smaller but unique deals highlight ongoing niche innovation in the market. FloWater raises $15 million to expand its purified water refilling stations, and Vengo secures $7 million for its wall-mounted mini-vending machines. Meanwhile, the augmented reality sector faces scrutiny as struggling startups prompt questions about the long-term viability of larger players like Magic Leap and Snap.