City Venture Financial News

Since its launch in 2019, the FWT share class has raised over £25m to invest in early-stage companies.

Venture capital has been a key driver for myriad startups in the blockchain space. Founders know how competitive it can be to secure valuable VC funding that can keep the lights on and employees paid during the critical first days of a new project.

A group of cryptocurrency venture investors has established a $20 million fund to invest in undervalued Web3 projects and companies focused on blockchain gaming and digital collectibles.

Artificial intelligence could be the missing piece for decentralized autonomous organizations (DAOs), while trained AI models could become valuable assets on-chain, according to the co-founder of Framework Ventures.

VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. «The lofty exuberant valuation days are gone,» said Tal Elyashiv, founder and managing partner of SPiCE VC, adding that valuations place on crypto companies had fallen closer in line with their actual performance. Crypto investors remain haunted by the chaos that descended on the sector last year when the implosion of the FTX exchange and other major firms, including hedge fund Three Arrows Capital, sent shockwaves through the industry.

funding round led by global fintech platform Portage. ThetaRay's technology uses artificial intelligence to identify financial cyber threats like money laundering so users can take action against suspicious transactions.

InterGlobe Aviation Ltd, the parent company of India's largest airline, IndiGo, granted approval for the establishment of a Venture Capital division on Monday. «This new division's primary focus will be investing in early-stage companies operating in aviation and related consumer sectors, such as travel, lifestyle, hospitality, and transportation,» said an airline official. The company officially announced in a filing to the stock exchanges that its Board of Directors has given the green light for the incorporation of a Private Limited Company, initially funded with Rs 30 crore. The airline's board has endorsed this investment, which will be established within the Special Economic Zone at Gujarat International Finance Tec-City, as detailed in the exchange filing. Additionally, the airline's board has approved the issuance of corporate guarantees, amounting to a maximum of USD 996 million, to ensure the financial obligations of the aforementioned wholly-owned subsidiary. «In compliance with Regulation 30 and other applicable regulations of the SEBI LODR Regulations, we wish to inform that the Board of Directors of the Company, at its meeting held today, September 4, 2023 (staring time: 10.30 a.m., closing time: 12.30 p.m.), has approved, incorporation of a wholly owned subsidiary of the Company, investment up to Rs 30 crores in one or more tranches, issuing corporate guarantees of up to USD 996 million (or an equivalent amount in Indian Rupees or any other currency) to secure the payment obligations of aforesaid wholly owned subsidiary,» it said in the BSE filing. Gaurav Negi, the airline's Chief Financial Officer, had previously disclosed the creation of this venture while addressing participants during a post-earnings