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asset management firm Neo Group has raised $35 million as part of its latest round of funding from Peak XV Partners. The round marks one of the bigger growth cheques that Peak XV has written this year after separating from its US-franchise Sequoia Capital, amidst an ongoing funding winter.

In an X social media post on Wednesday, Jesse Powell, the co-founder of Kraken, criticized venture capital firms for their role in what he described as "obvious fraud" at FTX, led by Sam Bankman-Fried (SBF). 

Infosys, Wipro Infosys and Wipro ADRs slumped in trade on Thursday on the NYSE as peer Accenture Plc’s growth guidance left investors in dismay. Quick Heal Technologies American venture capital firm Sequoia Capital has exited Quick Heal Technologies Ltd, by selling its entire 3.4% stake in the company through the open market on Thursday. Read more: Here's the trade setup for today's session Adani Green Abu Dhabi-based International Holding Co said it plans to sell its investment in Adani Group firms – Adani Green Energy Ltd and Adani Energy Solutions Ltd. Asian Paints Asian Paints Co-founder and Non-Executive Director, Ashwin Suryakant Dani, on Thursday passed away at the age of 81. Cholamandalam Investment Cholamandalam Investment and Finance launched a qualified institutional placement up to Rs 2,000 crore. Piramal Pharma USFDA conducted a good manufacturing practices inspection of Piramal Pharma's Bethlehem facility and issued two observations. Uno Minda Uno Minda to increase stake in its JV with Westport to 76% to accelerate growth in growing CNG and other alternate fuel markets. SBI Life The Board has approved the appointment of Amit Jhingran as the MD and CEO of the company with effect from October 01. Emami Emami announced its foray into the juice category with AloFrut through strategic investment in Axiom Ayurveda and its subsidiaries. Navin Fluorine Radhesh R Welling has tendered his resignation as the Managing Director and a Director on the Board of the company for personal reasons.

Fireblocks, the crypto company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based startup that helps financial institutions build blockchain-based systems, people with knowledge of the matter said.

(Reuters) — More than 25 years ago, two students at Stanford University brainstormed in their dormitory and came up with an idea — to create an internet search engine that would organize web pages and also rank them.

Instacart named former chief financial and operating officer Ravi Gupta to its board of directors Friday, formalizing a move after the grocery technology company went public earlier this week. “There are new growth areas — Connected Stores, Instacart Health, AI — entire plethora of ways that the company’s going to innovate,” Gupta said in an interview ahead of the announcement. “Just being able to be around for that and provide opinions and weigh in on that is such a gift.”

(Reuters) — U.S. venture capital firm GGV Capital said on Thursday it plans to split its business into two, with one focused on Asia and the other on the U.S., as political pressure mounts on American companies to limit investments in Chinese technology.

VCCircle that Kedaara may have invested ₹1,300-1,500 crore ($156-180 million) in the Bengaluru-based K-12 school operator. “India has over 260 million students enrolled in the K-12 segment, that aspire for accessible, and holistic education. K12 Techno has helped schools bridge this gap by leveraging technology and process orientation," said Sunish Sharma, founder and managing partner, Kedaara Capital.

Tiger Global-backed fintech unicorn Razorpay has acquired Mumbai-based JHKP Technologies Pvt. Ltd, which operates digital invoicing and customer engagement platform BillMe, in a bid to expand its offline business. Razorpay didn’t disclose the financial details of the transaction.

Instacart on Friday said its core business turned profitable after making public its filing for a long-awaited stock market launch, while also disclosing an investment from PepsiCo Inc. San Francisco-based Instacart, which filed confidentially for its initial public offering (IPO) in May 2022, said in the filing to the U.S. Securities and Exchange Commission that PepsiCo had agreed to buy $175 million in preferred convertible stock. Norges Bank Investment Management, a division of Norges Bank, and entities affiliated with venture capital firms TCV, Sequoia Capital, D1 Capital Partners and Valiant Capital Management have agreed to participate in the IPO as cornerstone investors, Instacart said. For the six months ended June 30, Instacart's revenue came in at $1.48 billion, up 31% from the same period last year.

Venture capital firm Vessel Capital has announced a $55 million fund to invest in Web3 infrastructure and applications, TechCrunch reported. According to the founders, their goal is not to scale, but rather to assist crypto founders working on early-stage startups to launch and grow their projects.

By Milana Vinn and Anirban Sen

The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged attempt to intimidate witnesses. Bankman-Fried faces 12 criminal charges spread across two trials scheduled to begin in October 2023 and March 2024.

A class-action lawsuit filed in the United States District Court for the Northern District of California has named 18 venture capital investment firms as defendants for their links with the bankrupt crypto exchange FTX.

Eighteen leading venture capital (VC) investment firms, including Temasek, Sequoia Capital, Sino Global and Softbank, have been named as defendants in a class-action lawsuit filed in the United States District Court for the Northern District of California for their links to the now-bankrupt crypto exchange FTX.

FTX’s former primary counsel Fenwick & West LLP has been hit with a class action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud.

Sequoia Capital has massively cut its crypto fund, more than 65 per cent to now about $200 million, amid the funding winter. Sequoia Capital has downsized its two major venture funds, including the crypto fund (from $585 million to $200 million), reports the Wall Street Journal. The move came amid several crypto exchanges and platforms announcing bankruptcy in recent months amid tightening regulations.

Venture capital giant Sequoia Capital has slashed the size of its cryptocurrency fund by over 65%, reducing it from $585 million to $200 million, Wall Street Journal reported citing sources familiar with the matter. 

Also Read: Sequoia Capital witnesses departures of long-time partner Michael Moritz, other key partners Other than layoffs, the company is changing fund allocation and opting for other measures to survive the current period of economic uncertainty. The venture capital firm is working on its extensive two-year "restructuring" initiative within the company. Also Read: Sequoia splits into 3 entities: India, China and US entities to operate independently from March 2024 With this restructuring, the company is planning for its transition from being the provider of one-on-one support to a model that caters to a large number of founders simultaneously.

Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.

foreign exchange violations in April this year. As per the Bloomberg news agency, Byju Raveendran, the firm’s eponymous founder and chief executive, paced his condo in Dubai, downing cups of black coffee and fielding calls from top investors. Raveendran broke down in tears defending his company, according to people who attended the calls.