VC Update (Mar. 25th)

Hello Reader,

Here is a summary of key Venture Capital developments from March 17 to March 25, 2025 (approximately), focusing on North America and Europe:

Venture Capital Trends

• Continued strong funding in AI, automation, fintech, blockchain, and biotech was observed [FinSMEs, 17.03.2025].
• AI for business automation, e-commerce, software development, and defense applications showed a strong focus in startup activity [Drake Dukes, 17.03.2025].

Early-stage Fintech and Insurtech highlights:

• Dalma (Insurtech) secured funding [Martin Peers, 18.03.2025].
• Okify (Real estate-related Fintech) secured funding [Martin Peers, 18.03.2025].
• Halliday (Fintech - workflow automation) raised $20M [Term SheetFortune, 19.03.2025].
• Utila (Fintech - digital assets) raised $18M [Term SheetFortune, 19.03.2025].
• Stable Sea (Fintech - stablecoin offramping) secured $3.5M funding [Term SheetFortune, 19.03.2025, PitchBook News, 19.03.2025].
• Town (Fintech - AI-powered tax expertise) raised $18M Seed [StrictlyVC, 15.03.2025, Drake Dukes, 20.03.2025].
• Camber (Fintech - SaaS spend optimization) raised $4M Seed [The VC Corner, 23.03.2025].
• Kosli (Fintech - real-time compliance tracking for DevOps) raised $10M Series A [The VC Corner, 23.03.2025, Sifted Newsletter, 24.03.2025].

Major Acquisitions:

• Google acquired Wiz (cybersecurity) for $32 billion [CEO DailyFortune, 19.03.2025, StrictlyVC, 19.03.2025, PitchBook News, 19.03.2025, FinSMEs, 19.03.2025, Transacted, 24.03.2025, GCV: Blueprint, 24.03.2025].
• Munich Re’s Ergo unit acquired Next Insurance for $2.6 billion [GCV: Blueprint, 24.03.2025].
• FuriosaAI (South Korean AI chip startup) rejected an $800 million acquisition bid from Meta [StrictlyVC, 25.03.2025].

Notable IPO:

• Klarna (Swedish BNPL Fintech) filed for IPO, aiming to raise at least $1B at a $15B valuation [StrictlyVC, 15.03.2025, Martin Peers, 18.03.2025, StrictlyVC, 19.03.2025, Cory Weinberg, 20.03.2025, PitchBook Research, 22.03.2025].

Significant Funding Rounds (>$20M):

• Pillar VC raised $175 million fourth venture fund [Term SheetFortune, 17.03.2025, StrictlyVC, 18.03.2025].
• GoByBike (Employee bike service, Finland) secured €125M [Tech.eu, 17.03.2025].
• Blackwall (Cybersecurity, Estonia) secured €45M Series B [Tech.eu, 17.03.2025].
• Latigo Biotherapeutics raised $150M (Series B) [StrictlyVC, 18.03.2025].
• BuildOps (Commercial services tech) secured $127M Series C at $1B valuation [FinSMEs, 21.03.2025, StrictlyVC, 22.03.2025, Exec Sum - Litquidity, 24.03.2025, Term SheetFortune, 24.03.2025].
• Dataminr raised $85M [FinSMEs, 21.03.2025].

VC Ecosystem Updates:

• New VC Fund Launches and Capital Raises:
  • Pillar VC raised a $175 million fourth venture fund [Term SheetFortune, 17.03.2025, StrictlyVC, 18.03.2025].
  • Adara Ventures (Spain) had the first close of AV4 fund, targeting €100M for early-stage deep tech [FinSMEs, 17.03.2025].
  • Soulmates Ventures (Czech Republic) launched a €50M fund [FinSMEs, 18.03.2025].
  • SemperVirens raised an oversubscribed $177 million fund focused on work tech [Term SheetFortune, 19.03.2025].
  • New State Capital Partners raised $700 million for its fourth fund [Term SheetFortune, 19.03.2025, PitchBook News, 19.03.2025, FinSMEs, 19.03.2025].
  • Carr’s Hill Capital Partners Management closed $210M for Carr’s Hill Fund I [FinSMEs, 19.03.2025].
  • Bread & Butter Ventures raised $40M for its fourth fund [FinSMEs, 19.03.2025].
  • Motion Ventures (Singapore) launched a $100M second maritime tech fund [FinSMEs, 19.03.2025].
  • Haun Ventures is raising a second round of funds totaling $1 billion, focused on crypto investments [StrictlyVC, 22.03.2025, Term SheetFortune, 24.03.2025].
  • Daphni (Paris-based VC) raised €200m for its third fund, aimed at climate tech [Sahil Patel, 25.03.2025].

Major Personnel Changes:

• Michael Seibel of Y Combinator was named partner emeritus [Term SheetFortune, 24.03.2025].

Sector-Specific Insights:

• Insurance Carriers:
  • The Munich Re’s Ergo unit acquired Next Insurance for $2.6 billion, marking a significant exit in digital insurance [GCV: Blueprint, 24.03.2025].
• Artificial Intelligence (AI):
  • AI remains a dominant force in tech, with many AI-focused startups securing major funding [FinSMEs, 17.03.2025, FinSMEs, 18.03.2025].
  • Google acquired the AI-driven cybersecurity company Wiz for $32 billion [CEO DailyFortune, 19.03.2025].
  • AI-powered coding is increasingly being used by Y Combinator startups [The Founders Corner, 22.03.2025].
  • Investor interest remains strong in AI for various applications, including business automation, e-commerce, software development, and defense [Drake Dukes, 17.03.2025, The VC Corner, 23.03.2025].

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