📶 AlphaSense joins the $4b club

Tegus gets acquired, exits multiply for continuation funds, the challenge of raising a second-time fund, plus GM pours $850m into Cruise

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Good morning 👋

There’s a tropical storm going through Miami and my elevator is broken, so I haven’t left my apartment all day. Tough day at the office.

Switching gears.

Let’s get into the biggest stories over the past 24 hours.


AlphaSense joins the $4b club (and buys Tegus) 🦄

  • AlphaSense raises $650M in funding at $4 billion valuation; agrees to buy rival Tegus for $930 million (TechStartups)

  • The challenge of raising a sophomore fund (Venture Capital Journal)

  • Exits multiply for continuation funds (Pitchbook)

  • Google AI Overviews Are ‘Nail in the Coffin’ for Blogs: LTK Founder (The Information)

  • Photo-sharing app BeReal acquired by Voodoo for €500m (FT)

  • GM pumps $850 million in Cruise to keep struggling robotaxi company afloat (The Verge)

  • Microsoft, Nvidia Lead In Investing In AI Startups, But Others Close Behind (Crunchbase)

  • Consumer is actually thriving, says Glossier, Away, Farmer’s Dog-backer Forerunner Ventures (Fortune)

  • Chip industry is still “at the end of a down cycle,” says German semiconductor CEO as he opens a $2.2 billion plant in Singapore (Fortune)

  • Restate raises $7M for its lightweight workflows-as-code platform (TechCrunch)

  • Friends & Family Capital, a fund founded by ex-Palantir CFO and son of IVP’s founder, unveils third $118M fund (TechCrunch)

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Here are the results from our poll question in yesterday’s:

What is your initial reaction to the Apple // OpenAI partnership?


🟨🟨🟨🟨⬜️⬜️ 😝 Excited about it - it will make my experience with my phone better (11)

🟨🟨🟨🟨⬜️⬜️ 😑 Meh - I don't think it will change my experience much (11)

🟩🟩🟩🟩🟩🟩 😡 I hate it - RIP privacy (16)

38 Votes


or to participate.