📶 looking at the 2024 Midas List

Who are the best investors of the year, Elon is diverting chips from Tesla to xAI, StepStone is buying VC stakes, and 13% of funds aren't raising again

June 06, 2024 • Estimated Reading Time: 7 minutes

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80 years ago today, a bunch of 18-year-olds stormed Normandy. Their probability of survival was nearly zero, but they did it anyway.

Without them, the world would look very different.

It’s easy to forget the sacrifice that went into giving each of us the opportunities available to us.

Today is as good a day as any to take a moment and thank those who have made life easier for us.

Let’s get into this week’s piece.

TL;DR:

HEADLINES
Looking at the 2024 Midas List 🔎

  • The 2024 Midas List: Announcing the World's Best Venture Capital Investors (Forbes)

  • Peter Thiel's Founders Fund co-leads $43 million Series A for modular blockchain Avail (The Block)

  • Elon Musk admits diverting Tesla’s AI chips to his other companies, claiming ‘they would have just sat in a warehouse’ (Fortune)

  • Databricks acquires Tabular to build a common data lakehouse standard (TechCrunch)

  • AI apocalypse? ChatGPT, Claude, and Perplexity all went down at the same time (TechCrunch)

  • 13% of VC firms aren’t planning to raise another fund (Pitchbook)

  • StepStone raises record cash pool to buy venture capital stakes (Financial Times)

  • Venture Capitalists Are Playing Matchmaker in the Age of AI (WSJ Pro Venture Capital)

  • Venture Capitalists Defy Funding Slump to Launch New Firms (The Information)

  • Next-Gen Battery Developer Ionic Materials Closes Down (The Information)

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FUNDS

Name

Fund Size

Fund Number

Eevolve

$403m

I

TCV

$3b

XII

Ardian

$574.3m

III

Energy Capital Partners

$6.7b

V

Clean Energy Ventures

$305m

II

Solamere Capital

$900m

IV

P.S. 👉 If you’re looking to get a new VC job … 

We’ve found the best way to do that is to find the jobs before they become available. In our opinion, the best way to do that is to a) find who is raising funds and b) find who is the right person to contact at each of those funds.

RECS

  • Big Desk Energy: The founder of beehiiv gives you a look at the good, bad, and the ugly of building a venture-backed business

  • The Early: One of the most-valuable newsletters we’ve found for people starting their VC careers

  • Creator Spotlight: How some of the biggest creators in the world go about building and monetizing

Thanks for reading this far and giving us a little bit of your attention this week.

Feel free to unsubscribe whenever this stops becoming valuable to you.

RESULTS

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

What is the most-valuable tool you use to angel invest?

🟨🟨🟨⬜️⬜️⬜️ AngelList (7)

🟨🟨🟨🟨🟨⬜️ Crunchbase (13)

🟩🟩🟩🟩🟩🟩 Twitter (14)

🟨🟨🟨🟨⬜️⬜️ Slack / Discord / other private communities (10)

🟨🟨🟨🟨⬜️⬜️ Something else (10)

54 Votes

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