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A New Segment to Enter the VC Playing Field 


Issue # 360 - 6th December 2022

Hi ,

it's December and while many are preparing to wind down and close out 2022 we still have a lot of interesting funding news to send your way - we're also now publishing our Newsletter on LinkedIn!

In other news, Facebook is facing a potential Civil Rights Complaint as its job ads are steering women towards low paying opportunities and Spotify is wrapping up the year by sending its customers personalised playlists 🎶

Below we also share about a recent Seed funding to a Nigerian supply chain startup, that women founders in Europe raked in some of the most high-profiled fintech rounds and how women tend to invest in startups in general. 

Read as well about the latest segment to enter the VC playing field - Venture Growth 🌱 and in the midst of the latest flurry of new funds, many are spearheaded by female led VC firms. 

Until next time, 

Madeleine

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Women Founder News

Pivo Powers up Nigerian Freight Carriers with a Bespoke Digital Bank, Gets $2M Seed Funding

In this article we learn about SMEs in supply chains across different sectors in Africa, all struggling to receive invoices despite having executed orders within the stipulated timeframe. 

This inefficient way of doing business, that ultimately leads to cash-flow problems — and on top of that fragmented payment collection and tracking processes, led Nigerian startup Pivo, which helps freight carriers get paid faster by providing a bank account, a debit card and digital invoicing tool that track payments, to set up shop. 

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The startup, founded by Nkiru Amadi-Emina and Ijeoma Akwiwu in July 2021, is announcing today that it has closed a $2 million seed round. 

UK-Based Emm Raises $1M in Pre-Seed Funding to Take its Smart Menstrual Cup to Market


Heading to the UK next as the article cited here covers the newly received pre-seed funding of over $1M, awarded to UK-based biotech startup Emm

The company has developed a novel smart menstrual cup that uses proprietary sensing technology to monitor and analyse specific biometrics to empower and inform the user through unique health insights and data regarding their menstrual cycle.


In 2022, Female Founders Raked in some of Europe’s most High-Profile Fintech Rounds


According to the article cited here, when it comes to the C-suite in Europe’s most valuable tech sector, men are still in the drivers seat. Not to mention that last year, just 6.5% of all fintech founders in Europe were women.

Having said this, and despite this year’s tricky fundraising environment, a large chunk of the most high-profile fintech funding rounds went to companies with women at the helm. 

Meet them here!

Global Funding News

PitchBook Analyst Note: Introducing Venture Growth


There is a new player in town and its purpose is to better address the variation and trends in late-stage venture according to PitchBook representatives, referenced in the article mentioned here. 

The new segment, “venture growth stage” will be defined as any company that raised a Series E or a later round or financings involving companies that are at least seven years old and have raised at least six VC rounds.

FTX Collapse Exposes Power Imbalance between Founders and Investors


The sudden collapse of crypto exchange FTX has unleashed one of the biggest scandals in the venture world according to the article cited here. 

Although many details are still unknown and it's not likely that we will ever know the full extent of what has transpired, the event is just the latest in a long string of mishaps, bankruptcies and improprieties to hit the crypto world and it has left many uncertain about the industry's future. 

Funding in Irish Tech Startups Tops €1 Billion in 2022


The Emerald Isle continues to see great progress when it comes to VC funding into Irish SMEs. In fact, according to the article cited here, the segment have topped €1 billion for the first nine months of 2022. 

The economic uncertainty that is plaguing much of Europe doesn't seem to be having an effect, at least not at the moment. 

Ireland, whilst a small island nation, has quickly consolidated itself as a European tech hub with strong links to the US and the UK and Dublin, the capital city, is a popular base for globally-minded startups, and home to an impressive pool of tech talent and networking support. 

Investor Insights

5 Questions: Venture Capital and the Missing Gender


In this article we meet Julie Castro Abrams, founder and CEO of How Women Lead, a network of more than 14,000 executive women. 

The purpose of the article - the organization recently conducted a study that assessed how women invest in startups and the result was not pretty. 

Why? Read on to learn more! 

Quantitative Perspectives: When the Tide Goes Out


This report from PitchBook reveal that PE is hanging in the balance as recession odds seem to grow. 

Despite slower growth, higher short-term interest rates, tight labor markets—as one economic indicator after another points to an increasingly likely recession in late 2023 or early 2024, the rate of dealmaking in private equity hasn’t shown such signs of weakness.

This could very well change though, read on to learn more. 

Show Me the Money 

New Fare Partners is Latest Female-Led VC to Close First Fund


Despite there being an investment slowdown, this article aruges that there are a flurry of new funds being announced, many of them from female-led venture capital firms.

Case in point, 
New Fare Partners, co-founded by Elly Truesdell and Hallie Bonnar, who secured $20 million in capital commitments for its inaugural fund investing in early-stage food and beverage businesses.

Launched in early 2022, Truesdell and Bonnar expect to make between 16 and 20 investments from their first fund and have made eight already. These include Made by Nacho, convenience retailer Foxtrot, Mexican omnichannel brand Tacombi and functional chocolate bar brand Mid-Day Squares.

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