Tiger Global's shortfall, an NEA partner looks to rebuild elsewhere, and Chinese VCs turn to the Middle East

No podcast today (I was assembling these from Mexico this week) but giant thanks to Finley Technologies for trying to sponsor this week's episode.:) Finley is a debt capital management platform for startups. Founded by a former Goldman Sachs debt investor, its software aims to helps startups manage their borrowing bases, financial covenants, and other debt capital must-haves. It's also offering free debt capital consultations here, so if you need help, you might check it out posthaste.

Happy Father's Day, dads! ❤️ 

Meta plans to lower the recommended age for using its Quest headset to 10 years old from 13 years old, it said in a blog post today, a move that could set off new privacy and safety concerns with parents and global watchdogs, notes the New York Times.

Tiger Global has secured just $2.7 billion for a fund targeting $6 billion after eight months, per SEC filings first spied by the Financial Times. The gap underscores concern over valuations of technology companies across the board. In addition to Tiger, Insight Partners was just forced to scale back its fundraising plans dramatically; Technology Crossover Ventures has also done the same. (Note: the $2 billion is a "first close" for Tiger Global; it continues to try to raise more cash.) The FT has more here.

Juniper Square surveyed nearly 100 VC firms about their concerns, plans, and focus areas for the rest of the year, and found that: 63% of VC firms plan to raise capital this year; the most pressing concern from LPs is around exits; and 40% want to invest in better LP reporting. Download their research to learn more, including: why VCs are worried about investor sentiment; how optimistic firms are about the rest of 2023; which operational investments VCs are prioritizing. Get the research now.

Eavor Technologies, a six-year-old, Calgary, Alberta-based closed-loop geothermal developer, has raised €34 million in Series B funding. OMV AG led the round, joined by BP Ventures, Eversource Energy and Vickers Venture Partners. More here.

OneVest, a Calgary- and Toronto-based wealth management platform, has raised $12.85 million (U.S.) n Series A funding led by OMERS Ventures. Other backers in the round include earllier backers Luge Capital, Panache Ventures, AAF Management, FJ Labs, and new backers Fin Capital, Pivot Investment Partners, and Deloitte Ventures. More here.

Lalo, a 5.5-year-old, Brooklyn-based direct-to-consumer baby products startup that sells things like high chairs and bath products, raised $10.1 million in Series A funding led by Spin Master Ventures. The company last raised $5.6 million in seed funding in 2021. More here.

Mach Industries, an Austin, Texas-based defense-tech startup, raised $5.7 million in seed funding led by Sequoia Capital. It's the first-ever defense tech investment in Sequoia's history, the venture firm tells Reuters.

Telmai, a three-year-old, San Mateo-based data observability platform, has raised $5.5 million in seed funding. Glasswing Ventures and .406 Ventures co-led the round, joined by Zetta Venture Partners. SiliconAngle has more here.

Epallet, an Agora Hills, Ca.-based online marketplace that aims to make it efficient to buy and sell wholesale products by the pallet, raised $4.5 million in seed funding. Bowery Capital led the round, joined by C2Ventures, SilverCircle, I2BF Global Ventures, and Junction Venture Partners. More here.

The Wound Company, an 18-month-old, Minneapolis-based wound care and monitoring company (the idea is to identify patients at the greatest risk of amputation and keep closer tabs on them), raised $4.25 million in seed funding from Susa Ventures and Sozo Ventures. Forbes has more here.

Worknet.ai, a Seattle-based customer collaboration platform, raised $3.5 million in seed funding from Act One Ventures. More here.

Affinity helps VC firms worldwide to operationalize at scale. Watch this short case study video to find out how the Business Development Bank of Canada achieved a five-fold increase in the number of organizations and contacts that it tracks — and the business impact this has had.

Andreessen Horowitz's crypto fund has brought aboard Sam Broner as a partner. Formerly, he was with Dorm Room Fund. More here.

The Israeli spyware firm NSO Group destroyed the life of Hanan Elatr, the wife of murdered journalist Jamal Khashoggi, forcing her to live in fear and never safely return to or even visit her family in Egypt, according to a lawsuit filed yesterday. The outfit's spyware, Pegasus, was also used to infect the phones of Dubai's ruler's ex-wife and some close to her, including, potentially, daughters from another wife (per a recent New Yorker piece that's worth a read). As notes the Washington Post, NSO Group faces several other lawsuits over the use of its spyware against journalists, lawyers and political activists in other countries. Further, Meta has sued NSO for allegedly hacking the WhatsApp app, and Apple has sued NSO.

Longtime VC Pete Sonsini is leaving NEA after a leadership shakeup at the heavyweight venture firm, which manages $25 billion in assets. Forbes says his departure follows a change in the top roles at NEA under top banana Scott Sandell, who has brought longtime investors Tony Florence and Mohamad Makhzoumi further into the leadership fold. Sonsini, who was left out, reportedly has a non-compete that would prevent him from joining another established firm, so he plans to launch his own venture fund. More here.

Twitch star Félix Lengyel, known as xQc, has signed a $100 million deal with rival platform Kick. You never really know what these numbers mean; the hurdles could be very high. But also, holy moly! The New York Times has more here.

On average, just 7%(!) of people who receive CPR before getting to the hospital are ultimately discharged with full brain function. Now, doctors say a plunger-like setup leads to remarkably better outcomes for reviving patients.

In the span of a few months, Bitwise Industries, a job training startup that raised more than $100 million from investors including JP Morgan Chase, Goldman Sachs and Kapor Capital, has gone from an unlikely success story with hundreds of employees to a firm near bankruptcy targeted by multiple lawsuits, including allegations that its founders committed fraud. The Information has the story here.

Electric-vehicle startup Rivian is trying out an unusual tactic to sell off its excess truck inventory: It is inviting buyers to shop what is available on a parking lot just outside its Normal, Ill., factory tomorrow. The auto company, which began building its first vehicles in late 2021, has quickly gone from having long waiting lists to a buildup of unsold stock on some versions of the R1T electric pickup, observes the WSJ.

VCs in China who once relied on U.S. investors are now holding court with Middle Eastern money. A flurry of China-Middle East conferences and business visits in the last several months represent what’s expected to be a growing trend in international capital flows, reports CNBC.

Twitter plans to focus on video, creator and commerce partnerships to revitalize the social media company’s business beyond digital advertising, according to a new investor presentation reviewed by Reuters. More here.

The rise of Bill O'Reilly's ambush man.

Beyflation.

A big reason to stay hydrated.

Playing "Zelda" or disappointing your father?

A Chanel bag made of plexiglass.

Soho House Charleston.

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