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Equity

A $700M SAFE, more IPOs, and how one venture fund is transcending borders

Equity

TechCrunch

Business, News, Technology, Business News, Entrepreneurship

4.2372 Ratings

🗓️ 22 March 2024

⏱️ 32 minutes

🧾️ Download transcript

Summary

This week we had Mary Ann, Becca, and Alex aboard.  Here's what the crew got into: Deals of the Week: Mary Ann wanted to talk about Onyx, a neobank aimed at wealthy early-to-middle career adults. It's pivoting to B2B and is not, despite what the Internet said, dead. Alex wanted to discuss Montauk Climate, a climate incubator set up by the former co-founder of Casper and the recent Marc Lore/Wonder deal. The climate isn't doing well, in case you've missed the news. So, projects like this are welcome. And Becca brought Ethos Fund to the table, allowing us to discuss cross-border investing. The upcoming Saudi AI push: What has lots of capital and is ready to pour it into AI investments? Sure, your local venture scene but also the Saudi Arabian government. Notable venture funds have been flying to the Middle Eastern state to raise capital, but perhaps in the future the capital will come for them. How some VCs are holding back an IPO rush: A recent Becca investigation unearthed an interesting finding, namely that it may not be the fault of late-stage founders that their companies are not going public. Their backers might actually be the ones holding the door closed. Oh, and Reddit started trading during our recording slot, and it's doing well! We are back Monday with more! Chat then! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:15.3

Hello and welcome back to Equity, a podcast about the business of startups where we unpack the numbers and the nuance behind the headlines. My name is

0:19.5

Alex and I'm joined today by Senior Tech Lynch reporter on the World of FinTech.

0:23.2

It's Marianne.

0:24.2

Hey, Marian, how are you?

0:25.3

I'm good, Alex.

0:26.1

How's it going?

0:27.1

Well, winter has returned and my baby's been sick.

0:29.7

So it's not that bad.

0:30.9

It's just, you know, it's been a long week. I second that.

0:35.2

Well, but it has been a long week, but it's getting better because Becca is back with us on equity.

0:39.4

Becca, hi, how are you? I am good. I also feel like it has been a long week.

0:44.0

Long week in a good way though, because we do have some very fun news on the show, including some

0:48.1

updates on the world of IPOs, but before we get into that, two things, one,

0:52.8

please don't forget to drop a rate or review of the show

0:56.0

on your favorite podcast application.

0:58.0

We do really appreciate it, and we will read out

1:00.2

some of the best of those on the show

1:01.8

in the coming weeks.

1:03.0

And also, back up before you jump in, you recently had a very important guest over on Found.

1:07.6

Yes, we recently had Eric Gleiman, the co-founder and CEO of Ramp on the Found Podcast.

1:13.2

So if you want to hear a little bit more

1:15.4

about their founding journey,

...

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