Daily Crunch: Former Metamates go from zero to unicorn with $200M crypto investm...
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Daily Crunch: Former Metamates go from zero to unicorn with $200M crypto investment led by a16z
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Hello and welcome to Daily Crunch for Tuesday, March 15, 2022! Well, we’ve done it. We made it through earnings season and nearly all of Q1. Now it’s just the final two weeks until we rock into the second real period of 2022. Time flies, but the fact that we’re toward the end of March means that Early Stage is coming up. I, for one, cannot wait. (And, fine, I’m looking forward to Q1 earnings as well.) – Alex
The TechCrunch Top 3 4
All Raise hires new CEO: A nonprofit focused on “increasing diversity within venture capital deals and decision-makers” per our reporting, All Raise now has a new boss. Mandela Schumacher-Hodge Dixon comes into the role after running Founder Gym, which helped train underrepresented founders around the world.
Challenges in China: The technology landscape in China is being squeezed as the country’s government continues a regulatory barrage, COVID policies lock down key cities, and potential delisting looming over the country’s U.S.-listed companies. Markets have reacted negatively to the uncertainty.
The venture result: The tough market is starting to show up in venture capital results, early data indicates. Tracking the Chinese venture capital market, once a challenger for the global top slot, was an interesting adventure last year as VCs kept writing checks despite more government oversight. Now, however, the numbers could be shifting. And not for the better.
How European startups are aiding Ukrainian refugees: While the world’s governments grapple with how to blunt and push back the Russian invasion of Ukraine, startups and more mature tech companies in Europe are stepping up with a host of efforts to ameliorate human suffering. TechCrunch has a running list of who is doing what that is worth reading.
Startups and VC
What crypto slowdown? Last week TechCrunch noted that the NFT market appeared to be slowing. But that and generally uninspiring price movements in major crypto tokens are not slowing venture interest in the space. The parent company of well-known crypto wallet MetaMast just raised at a $7 billion valuation, and the team that was working on crypto at Facebook just raised a mint for their own project. Which is, notably, a new blockchain, and not something built atop an existing decentralized network.
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