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Defense tech funding has reached a new record in 2024, with startups in the sector raising nearly $3 billion, surpassing the previous high of $2.6 billion set in 2022. This milestone was achieved despite a decrease in the number of deals, with 85 rounds in 2024 compared to 113 in 2022.Leading the charge was Anduril, a weapons manufacturer that secured a massive $1.5 billion Series F round in August. Other significant investments included Saronic Technologies, an autonomous maritime vehicle company, which raised $175 million in a Series B round, and Chaos Industries, a defense infrastructure startup, which obtained $145 million in Series B funding.The European defense tech scene has also seen substantial growth. German AI weapons startup Helsing raised approximately $487 million this year. New Europe-based defense tech venture firms have emerged, including D3 Venture Capital in Ukraine, Scalewolf in Lithuania, and Twin Track Ventures in the UK.Industry experts attribute this growth to increasing global tensions and a sense of urgency to invest in technologies that can enhance protection. Mikolaj Firlej, general partner of Europe-based Expeditions Fund, emphasized the dangerous state of the world and the mission to support early-stage companies that could make a significant impact.The defense tech sector is expected to continue its upward trajectory, with investors anticipating increased opportunities from the new White House administration. These opportunities are likely to span various areas, including space, aeronautics, weapons, and surveillance technology.Nathan Mintz, co-founder of electronic warfare startup CX2, suggested that close relationships between key political figures and the defense venture capital ecosystem could lead to significant reforms in defense acquisition and an expansion of players in the field.https://techcrunch.com/2024/11/20/led-by-anduril-defense-tech-funding-sets-a-new-record-this-year/
an hour ago|by Team S
Lean Technologies, a Riyadh-based financial infrastructure provider, has successfully raised $67.5 million in a Series B funding round. This significant investment was led by General Catalyst, a prominent Silicon Valley venture capital firm known for backing high-growth technology companies.• Total raised: $67.5 million in Series B• Lead investor: General Catalyst• Other participants: Bain Capital Ventures, Duquesne Family Office, Arbor Ventures, and Saudi Venture Capital• Cumulative funding: Over $100 millionLean Technologies offers application programming interfaces (APIs) that enable businesses to integrate banking services into their platforms. The company's technology facilitates:• Direct bank account payments (pay-by-bank transfers)• Access to customer financial data• Payment initiation• Account information verificationOperating under Abu Dhabi Global Market (ADGM) regulation in the UAE, Lean has already processed more than $2 billion in transactions.The fresh capital will support Lean's growth initiatives:• Expanding open banking infrastructure across the Middle East and North Africa (MENA) region• Enhancing payment processing capabilities• Developing new partnerships• Increasing the technical expert teamLean Technologies is poised to play a crucial role in the region's fintech landscape:• Clients include major companies like e&, DAMAC, and Careem• In Saudi Arabia, Lean has introduced data solutions through the Saudi Central Bank's regulatory sandbox• The company serves various sectors including insurance, lending, and digital marketplacesHisham Al-Falih, CEO and Co-founder of Lean Technologies, emphasized the significance of this funding round, stating that it marks a pivotal moment for both Lean and the entire fintech landscape in the Middle East.
10 hours ago|by Team S
BEK Ventures, formerly known as Earlybird Digital East, has announced the launch of its $250 million Fund III, aimed at investing in early-stage technology companies. The fund, which was oversubscribed three times, has attracted a diverse mix of investors including global financial institutions, insurance companies, funds of funds, corporate investors, family offices, and established entrepreneurs from the US and Europe.With offices in London, New York, and Istanbul, BEK Ventures focuses on backing founders with roots in Central and Eastern Europe, a region known for producing ambitious tech talent with global aspirations. The firm has a track record of success, having achieved returns of $2.4 billion over the last decade and investing in unicorns such as UiPath and Payhawk.Fund III has already made investments in five companies, including Zeta Labs and Proofs. Managing Partner Cem Sertoglu emphasized the value of a small, focused early-stage venture firm in providing time and attention to founders. The firm maintained discipline in fund size and strategy, turning down some limited partners to preserve its approach.Mehmet Atici, another Managing Partner, highlighted BEK's commitment to supporting portfolio companies, with 90% receiving a second investment. The firm's engagement extends beyond financial support, offering expertise, talent support, and connections to further investment opportunities.BEK Ventures aims to continue its top performance with this new fund and identity, supporting European founders building companies from the US, where 50% of their portfolio companies currently operate.
2 days ago|by Team S
Firefly Aerospace, a space technology company based in Cedar Park, Texas, has achieved a significant milestone by reaching a valuation of over $1.5 billion in its latest funding round. The company, which specializes in developing small and medium-sized rockets for satellite launches, has successfully raised $300 million in new equity.The funding round was led by Migdal Insurance, one of Israel's largest insurance companies and pension managers. This investment marks Migdal's first venture into the space technology sector, signaling growing interest from traditional financial institutions in the burgeoning space industry.Firefly Aerospace, founded in 2014, has been making steady progress in the competitive space launch market. The company achieved its first successful orbital launch in October 2022 and has since completed two additional missions. With this new influx of capital, Firefly aims to ramp up production of its Alpha rocket and accelerate the development of its larger Beta launch vehicle.CEO Bill Weber expressed enthusiasm about the company's growth trajectory, highlighting Firefly's expanding customer base and its plans to increase launch cadence. The firm has secured several government contracts, including agreements with NASA and the U.S. Space Force, alongside commercial deals.The space startup landscape has faced challenges in recent years, with some companies struggling to secure funding or maintain operations. However, Firefly's successful fundraising and increased valuation demonstrate continued investor confidence in select players within the industry.
2 days ago|by Team S
Writer, a full-stack generative AI platform for enterprises, has raised $200 million in a Series C funding round, valuing the company at $1.9 billion. The investment was co-led by Premji Invest, Radical Ventures, and existing investor ICONIQ Growth, with participation from several other prominent investors including Salesforce Ventures, Adobe Ventures, and Citi Ventures.Founded in 2020, Writer has quickly established itself as a leader in enterprise generative AI. The company's platform includes its Palmyra family of large language models (LLMs), along with advanced features like graph-based RAG and customizable AI guardrails. Writer's technology is used by hundreds of major companies, including Accenture, Intuit, L'Oreal, and Salesforce, to deploy AI applications and agents that address complex business challenges.May Habib, Co-founder and CEO of Writer, emphasized the company's focus on developing advanced AI systems capable of handling mission-critical enterprise work. The new funding will be used to accelerate the development of AI solutions that can manage complex enterprise workflows across systems and teams. Additionally, Writer plans to expand its quick-start AI applications for time-intensive workflows in healthcare, retail, and financial services.The funding round also brings new additions to Writer's board of directors, with Sandesh Patnam from Premji Invest and Rob Toews from Radical Ventures joining. Writer, which has offices in San Francisco, New York City, and London, reports that its customers have saved millions of hours in productivity and typically see a 9x return on investment.As Writer continues to grow, it aims to solidify its position as a pioneer in enterprise-grade agentic AI, providing secure, reliable, and adaptable solutions for complex business scenarios.
2 days ago|by Team S
SwiftConnect, a Stamford, Connecticut-based company specializing in digital access management, has successfully closed a $37 million Series B financing round. The funding will be used to expand the company's access network, which connects people to the right places at the right time.The investment round was led by Quadri Ventures, with participation from new investors including HID (part of ASSA ABLOY), Egis Capital Partners, and Klingenstein Fields Advisors. Existing investors such as Crow Holdings, JLL Spark, Navitas Capital, Tanzola Corp., and Spring Rock Capital also contributed to the round.SwiftConnect's total funding now stands at $74 million. The company plans to use the new capital to scale operations, drive geographic expansion, and support new product initiatives. The firm's AccessCloud platform integrates various technologies to provide seamless access management across multiple locations worldwide.Co-CEOs Chip Kruger and Matt Kopel expressed confidence in the company's future, highlighting SwiftConnect's role in reshaping the physical access paradigm. The company's client base includes multinational organizations and commercial real estate properties, representing a potential opportunity of over a billion square feet of office space and more than two million users.As part of its growth strategy, SwiftConnect recently acquired UK-based FlitchTech to enhance its integration capabilities and expand its presence in the higher education sector. The company has also made inroads into the high-end multifamily rental market in North America.With this latest funding round, SwiftConnect aims to solidify its position as a leader in connected access and identity management, providing users with convenient and secure access to buildings, offices, and various resources through mobile devices.
2 days ago|by Team S
Maki VC, a Nordic venture capital firm, has announced the launch of its third fund, Maki Fund III, with a size of €100 million. The new fund aims to support early-stage startups across the Nordics and Northern Europe, focusing on deep tech and brand-driven companies that have the potential to reshape industries.Fund III is backed by experienced founders and operators from successful companies such as Skype, Wise, RELEX Solutions, WithSecure (formerly F-Secure), Aiven, and Supercell. This collective expertise will be leveraged to provide comprehensive support to portfolio companies.Maki VC will continue to target pre-seed and seed-stage investments, with ticket sizes ranging from €300,000 to €3 million. The fund also includes a reserve for follow-on investments, allowing Maki VC to support companies beyond their initial milestones.The firm's investment strategy emphasizes scientific breakthroughs, strong intellectual property, and a deep understanding of customer needs in industries poised for significant growth over the next decade. Maki VC believes the Nordic region offers an ideal environment for groundbreaking innovations, combining cutting-edge R&D, deep tech expertise, and robust public investment support.Fund III has already invested in six startups across deep tech and consumer sectors. In addition to financial backing, Maki VC provides hands-on support to its portfolio companies, offering assistance with strategy, talent acquisition, branding, and follow-on funding through its global network of advisors.
2 days ago|by Team S
Italian Venture Capital firm Italian Founders Fund (IFF) has announced the launch of its debut €50 million fund, targeting pre-seed and seed stage founders operating in Italy and abroad. The fund aims to complete 25 transactions over its investment period, with initial investments ranging from €500,000 to €1.5 million and the potential for up to €2.5 million in follow-on rounds.Lorenzo Franzi, founding partner of IFF, emphasized the significance of this launch for the Italian Venture Capital ecosystem, highlighting the involvement of over 100 founders and key figures from Italy's entrepreneurial and innovation sectors. The fund's strategy is to create an integrated system that promotes and supports Italy's promising startup ecosystem both domestically and internationally.IFF has already made its first two investments. The first is in Jet HR, a tech company focused on simplifying HR management bureaucracy, which marked the largest pre-seed round in Italy. IFF co-invested in this round alongside Exor Ventures. The second investment was made in Glaut, an AI-powered market research and surveys company, with participation from various international funds and angel investors.Marco Morgese, CEO of KOINOS Capital SGR, the management company behind IFF, noted that founder-led funds are common in markets where innovation drives industrial development policies. He cited examples such as Founders Fund in the USA, 10x founders in Germany, Galion.exe in France, ByFounders in Scandinavia, and Dutch Founders Fund in the Netherlands.The launch of IFF represents a strategic evolution for KOINOS, transitioning from a private equity fund supporting small and medium-sized Italian businesses to a multi-asset platform encompassing both private equity and venture capital, while maintaining a strong entrepreneurial focus.
3 days ago|by Team S
Silicon Valley venture capital firm Altos Ventures has raised $500 million for its newest fund, marking its largest fundraising effort to date. The firm, known for its early investments in successful companies like Roblox, Coupang, PandaDoc, and Quizlet, has been operating for nearly three decades.Altos Ventures manages over 15 funds across three vehicles, including those focused on U.S. and global companies, as well as a fund targeting South Korean startups. With this latest addition, the firm's total assets under management now exceed $7 billion.Specializing in enterprise and consumer software sectors, particularly SaaS, consumer, and mobile technologies, Altos Ventures has positioned itself as the "first institutional investor in high-growth, founder-led companies." The firm has maintained a more conservative approach compared to some of its peers, consistently keeping its fund sizes below $1 billion.This strategy aligns with data from Cambridge Associates, which suggests that smaller funds historically yield higher returns. Similarly, CRV, another veteran venture firm, recently returned more than half of its $500 million late-stage fund due to concerns about inflated valuations in mature startups.Altos Ventures' track record speaks to the success of its investment philosophy. The firm claims to have been the first and lead investor in over 50 companies, with more than a dozen of its portfolio companies going public or being acquired by publicly traded entities. To date, Altos has invested in nearly 250 companies.This new fund comes at a time when the venture capital landscape is experiencing some challenges, particularly for emerging fund managers and later-stage startups seeking growth rounds. However, Altos Ventures' ability to secure this substantial funding indicates that well-established firms continue to attract significant capital, even in a cooler market environment.
3 days ago|by Team S
A recent Bank of America survey has revealed that the UK and Spain are currently the most attractive investment destinations in Europe. The survey, conducted from July 5 to 11, gathered insights from 242 fund managers overseeing $632 billion in assets.The UK's appeal has been bolstered by political stability following Labour's decisive victory in the July 4 general election, securing a majority of over 170 seats. This has led to a resurgence in popularity for UK stocks, with the FTSE 100 index rising 6% this year and crossing the 8,000-point threshold for the first time.In contrast, other European markets have shown mixed performance. France's Cac 40 has increased by approximately 0.5% this year, while Germany's Dax 40 has seen a 10% rise. The Italian stock market was least favored by fund managers, followed by the French market.The survey also touched on the US market, where fund managers anticipate high rates on government debt if either party gains control of both the House and Senate. Trade policy is expected to be a key focus in the upcoming presidential election, with 48% of participants highlighting it as the most likely area to be influenced.Looking at the global economy, fund managers assigned a 68% probability to achieving a "soft landing," where inflation returns to the central banks' 2% target without significantly harming growth.This shift in investor sentiment towards London-listed companies marks a notable change in the European investment landscape, with the UK and Spain emerging as the frontrunners for attracting capital in the region.https://bmmagazine.co.uk/in-business/uk-and-spain-emerge-as-top-investment-destinations-in-europe/
12 days ago|by Team S
Venture capital firms are increasingly turning to continuation funds as a means to provide liquidity to investors in a market where exits have been scarce. This trend is not limited to established U.S. firms but is also gaining traction in emerging markets.Alex Branton, founder of London-based Nodem Capital, is pioneering this approach in what he calls "next wave" markets, including Emerging Europe, Turkey, Latin America, Southeast Asia, and India. Nodem aims to offer secondary liquidity to holders of VC-backed assets in these regions, addressing a growing need as more funds reach their 10-year mark.The strategy comes at a time when the investable universe of assets held in VC funds older than 10 years is expected to grow from $15 billion to around $130 billion. Nodem's focus will be on providing partial liquidity through preferred equity investments, allowing investors to maintain exposure and control while accessing needed funds.Branton's approach is particularly relevant in the current market, where there are significantly more companies being financed by VCs than those finding exits. This overhang of assets has created a demand for liquidity solutions, with many limited partners reluctant to commit to new funds until value is released from earlier vintages.While continuation funds have gained popularity in private equity, venture capital firms have been slower to adopt this model. However, recent moves by notable VCs like Lightspeed Venture Partners, General Catalyst, and New Enterprise Associates suggest a growing interest in this strategy.Nodem Capital plans to start investing in the first quarter of 2025, subject to regulatory approvals. The fund will operate with a traditional 2 and 20 fee structure and a five-year life, with the option to extend for two years.As the venture capital landscape evolves, continuation funds may provide a crucial tool for managing long-held assets and meeting investor demands for liquidity in an increasingly challenging market environment.https://www.institutionalinvestor.com/article/2dztc2lpv3s8yfan6wgzk/corner-office/continuation-funds-come-to-venture-capital
12 days ago|by Team S
4impact Capital Closes €68M Second Fund for Impact Investing- Fund size: €68 million- First fund launched: 2019- Investments made: 6 transformative ventures since first closingTeam:- Pauline Wink: Founding Partner- Ali Najafbagy: Founding PartnerInvestment Strategy1. Focus on early-stage digital and sustainability ventures2. Target northwest Europe3. Provide scalable solutions for global challenges4. Deliver strong financial returns5. Tech focus areas:  - Remote sensing  - AI and big data  - Emerging technologies (e.g., blockchain)- SFDR Article 9 fund classification- Seven venture partners in Europe and US- Aims to address labor shortages and contribute to sustainable, competitive Europe- Backed by institutional investors, including Invest-NL, European Investment Fund (EIF), Oost NL, and Netherlands Enterprise Agency (RVO)4impact Capital's successful closure of its second fund demonstrates growing interest in impact investing, particularly in digital and sustainability ventures. The fund's strategy combines financial returns with solutions to global challenges, focusing on early-stage companies in northwest Europe.The firm has already invested in six ventures since the fund's first closing, including Coolgradient (optimizing energy and water consumption in data centers), Deftpower (leveraging EV batteries for grid balancing), and Carbonfuture (provider of durable carbon removal credits).Founding partner Pauline Wink emphasizes the firm's hands-on approach: "We don't just invest - we partner with them, providing the support needed to fuel their growth and success". This strategy aligns with 4impact's mission to catalyze positive change and shape future businesses.The fund's focus on remote sensing, AI, big data, and blockchain technologies positions it at the forefront of digital innovation for sustainability. As founding partner Ali Najafbagy notes, these technologies can help address labor shortages and contribute to a more sustainable and competitive Europe.
12 days ago|by Team S
Web3 venture capital funding reached $5.4 billion in 2024, according to a report by Cointelegraph Research. This figure represents a 12.5% increase from the previous year's $4.8 billion. The report highlights that despite the overall decline in venture capital funding across all sectors, Web3 managed to secure a larger share of total VC investments, rising from 6.4% in 2023 to 7.2% in 2024.The analysis reveals that infrastructure projects attracted the most funding, accounting for 31% of the total Web3 investments. This was followed by decentralized finance (DeFi) at 22% and non-fungible tokens (NFTs) at 18%. Gaming and the metaverse collectively received 16% of the funding.Notable funding rounds in 2024 included Celestia's $200 million Series C round, Aztec Network's $100 million Series B round, and Consensys' $150 million funding round. The report also mentions that early-stage investments dominated the landscape, with seed and Series A rounds making up 68% of all deals.Geographically, North America led in Web3 funding, securing 41% of the total investments. Europe followed with 28%, while Asia accounted for 22% of the funding. The report notes an increasing trend of investments in emerging markets, particularly in Africa and Latin America.The study predicts continued growth in Web3 funding for 2025, projecting a potential increase to $6.2 billion. It suggests that areas such as artificial intelligence integration, scalability solutions, and regulatory-compliant decentralized finance protocols are likely to attract significant investor interest in the coming year.https://cointelegraph.com/news/vc-roundup-web3-funding-5-4-billion-2024
13 days ago|by Team S
Faber, a Portuguese venture capital firm, has announced the first close of its third fund, Faber Tech III, raising $34 million. The firm is targeting a final close of €64 million for this new fund, which will focus on investing in early-stage deep tech startups across Southern Europe.Faber Tech III will primarily invest in pre-seed and seed-stage startups, with initial investments ranging from €500,000 to €1.5 million. The fund plans to support 20 to 25 companies throughout its lifecycle, reserving capital for follow-on investments.Geo focus: While maintaining its core focus on Portugal, the fund will expand its reach to include other Southern European countries, particularly Spain. This broader geographical scope aims to tap into the region's growing tech ecosystem.The new fund will target deep tech startups in various sectors, including:- Artificial Intelligence and Data- Robotics and Automation- Cloud and Edge Computing- Cybersecurity- Digital HealthFaber Tech III has attracted support from both institutional and private investors, including:- European Investment Fund (EIF)- Instituição Financeira de Desenvolvimento (IFD)- Banco Português de Fomento- NATO Innovation FundThe launch of Faber Tech III underscores the firm's commitment to fostering technological innovation and entrepreneurship in Southern Europe, particularly in the deep tech sector. With this new fund, Faber aims to capitalize on the region's expanding startup ecosystem and drive the growth of cutting-edge technologies.
13 days ago|by Team S
Faber, a Portuguese venture capital firm, has announced the first close of its third fund, Faber Tech III, raising €34 million. The firm is targeting a final close of €64 million for this new fund, which will focus on investing in early-stage deep tech startups across Southern Europe.Investment StrategyFaber Tech III will primarily invest in pre-seed and seed-stage startups, with initial investments ranging from €500,000 to €1.5 million. The fund plans to support 20 to 25 companies throughout its lifecycle, reserving capital for follow-on investments.Geo focus: While maintaining its core focus on Portugal, the fund will expand its reach to include other Southern European countries, particularly Spain. This broader geographical scope aims to tap into the region's growing tech ecosystem.The new fund will target deep tech startups in various sectors, including:- Artificial Intelligence and Data- Robotics and Automation- Cloud and Edge Computing- Cybersecurity- Digital HealthFaber Tech III has attracted support from both institutional and private investors, including:- European Investment Fund (EIF)- Instituição Financeira de Desenvolvimento (IFD)- Banco Português de Fomento- NATO Innovation FundThe launch of Faber Tech III underscores the firm's commitment to fostering technological innovation and entrepreneurship in Southern Europe, particularly in the deep tech sector. With this new fund, Faber aims to capitalize on the region's expanding startup ecosystem and drive the growth of cutting-edge technologies.
13 days ago|by Team S
In the rapidly evolving landscape of software development, artificial intelligence has emerged as a game-changing force, particularly in the realm of coding assistance. As enterprises contemplate riding this AI wave, they face a complex set of considerations that go beyond mere productivity gains. A recent conference shed light on how organizations can effectively implement AI-powered coding tools while addressing key concerns and challenges.At the heart of the enterprise adoption debate lies the question of value and return on investment. While AI coding assistants promise significant productivity boosts, with some vendors claiming improvements of up to 50%, industry experts caution against a simplistic view of these benefits. The true value of these tools extends beyond mere time savings, encompassing their impact on the entire software development lifecycle, including crucial phases such as debugging, refactoring, and testing.Security stands out as a paramount concern for enterprises considering AI coding assistants. The potential risks are manifold, ranging from data breaches and intellectual property leaks to the inadvertent introduction of code vulnerabilities. As organizations navigate this terrain, they must carefully evaluate hosting environments, assess data sensitivity, and anticipate potential attack vectors. This heightened focus on security underscores the need for a comprehensive risk assessment strategy.The deployment landscape for AI coding tools offers various options, each with its own set of trade-offs. Software-as-a-Service (SaaS) solutions like ChatGPT provide ease of use but may raise data privacy concerns. Cloud-based models, such as Amazon Q Developer, offer scalability but require careful data management. On-premise solutions like Meta's Llama provide greater control but demand significant infrastructure investment. The choice among these options should be guided by a thorough analysis of an organization's specific needs, risk tolerance, and the nature of the applications being developed.Compliance and regulatory considerations add another layer of complexity to the adoption process. Industries such as finance, healthcare, and government face particularly stringent requirements. Enterprises in these sectors must navigate a complex regulatory landscape, often necessitating a review and adaptation of existing policies to address the unique challenges posed by AI coding assistants. Intellectual property concerns, in particular, require careful attention to ensure that the use of AI tools aligns with legal and ethical standards.Real-world experiences offer valuable insights into the potential of AI coding assistants. A notable example comes from Singapore's Government Technology Agency (GovTech), which conducted a four-month pilot program involving 70 participants. Using tools like GitHub Copilot and GitLab, the agency observed an average productivity improvement of 24%. Encouraged by these results, GovTech is now expanding the use of AI coding tools across its developer community and other government agencies.As enterprises embark on their AI coding journey, a balanced approach is crucial. The potential benefits are significant, but so are the challenges. By prioritizing value assessment, security measures, and regulatory compliance, organizations can position themselves to leverage these powerful tools effectively. The integration of AI coding assistants into enterprise software development processes represents not just a technological shift, but a strategic opportunity to enhance innovation and efficiency.The road ahead for AI in enterprise coding is both exciting and daunting. As one industry leader aptly put it, "It's been a journey, and while it can be a bit scary, I find it really exciting, and I can't wait to see how much more we can do." This sentiment captures the essence of the AI coding wave – a transformative force that, when harnessed thoughtfully, has the potential to redefine the future of software development in the enterprise landscape.https://www.computerweekly.com/news/366615277/How-enterprises-can-ride-the-AI-coding-wave
14 days ago|by Team S
The United Kingdom is poised for substantial growth in its AI assurance market, with projections indicating a six-fold increase over the next decade. This expansion is expected to unlock more than £6.5 billion by 2035, aligning with the government's strategy to leverage AI for economic growth and public service reform.Key points from the announcement:1. The UK government is introducing new support measures for businesses to develop and use trustworthy AI products and services.2. A new AI assurance platform will be launched, providing businesses with a centralized resource for identifying and mitigating AI-related risks and harms.3. The AI assurance sector currently comprises 524 firms, employing over 12,000 people and generating more than £1 billion.4. The UK AI Safety Institute (AISI) is expanding its international collaborations, including a new partnership with Singapore.5. A self-assessment tool will be made available, particularly for SMEs, to implement responsible AI management practices.6. The government is launching a public consultation to gather industry feedback on AI assurance initiatives.7. The AISI has initiated a Systemic AI Safety Grants programme, offering up to £200,000 in funding for researchers across various sectors.8. The UK is actively participating in the International Network of AI Safety Institutes, emphasizing global collaboration in AI safety.This initiative underscores the UK's commitment to fostering trust in AI systems while promoting innovation and economic growth in the rapidly evolving field of artificial intelligence.https://www.gov.uk/government/news/ensuring-trust-in-ai-to-unlock-65-billion-over-next-decade
14 days ago|by Team S
Shamrock Capital, a Los Angeles-based investment firm, has successfully raised $1.6 billion for two new funds, marking a significant milestone in the company's fundraising efforts.The firm has allocated $1 billion to its Shamrock Capital Growth Fund VI, which focuses on buyouts and growth equity investments in media, entertainment, and communications sectors. This fund aims to make investments ranging from $25 million to $200 million in companies with enterprise values between $50 million and $1 billion.Additionally, Shamrock Capital has raised $600 million for its Content Strategy Fund III. This fund specializes in acquiring entertainment intellectual property rights, including film, television, music, and video game content libraries.Shamrock Capital's latest fundraising success comes at a time when many private-equity firms are facing challenges in attracting new capital. The firm's ability to secure $1.6 billion demonstrates investor confidence in its strategy and track record, particularly in the media and entertainment sectors.The company's focus on these sectors aligns with the growing demand for content and intellectual property rights in the digital age. As streaming platforms and media companies continue to compete for valuable content, Shamrock Capital's investments in entertainment IP rights could prove to be strategically important.This successful fundraising effort further solidifies Shamrock Capital's position as a significant player in the media and entertainment investment landscape, providing the firm with substantial resources to pursue new opportunities and expand its portfolio in the coming years.
15 days ago|by Team S
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