🗒️ Why some investors are charting a different course on AI
Axios: There's no one-size-fits-all strategy when it comes to venture capital investments in the booming artificial intelligence sector.
State of play: Large language model companies are still making headlines for raising piles of cash at eye-popping valuations, but it also appears a growing number of VCs are slinging some of their checks in other directions.
The big picture: At Upfront Ventures' annual confab in Los Angeles this week, a number of top VCs took the stage to share their thoughts on investing in AI.
🗒️ VC Roundup: AI-blockchain solutions winning investors’ hearts
Cointelegraph: The first quarter of 2024 is drawing to a close with signs of improved sentiment surrounding cryptocurrencies thanks to the launch of Bitcoin exchange-traded funds (ETFs) in January.
The favorable market dynamics could boost venture capital investment after a long winter. In 2023, venture capital firms in crypto and blockchain raised $5.75 billion across 58 funds, down from 2022’s record year of $37.7 billion across 262 funds, according to a report from Galaxy Digital.
The first signs of recovery came in the last quarter of 2023, when venture funding reached $1.9 billion, up 2.5% from the previous quarter — the first time venture capital investments in crypto startups have grown since early 2022.
🗒️ Bloomberg’s US$200 million to fund innovative climate solutions
Cities Today: A US$200-million Bloomberg Philanthropies initiative will provide support to 25 selected US cities to pursue transformative climate solutions in the buildings and transit sectors.
The initiative aims to ensure the participating cities – collectively representing over 10 million people – can leverage and implement federal funds to advance local projects, especially in disadvantaged communities historically overburdened by pollution.
Selected cities are already in the process of applying for, have submitted applications for, or have received more than 100 federal grants aligned with Bloomberg American Sustainable Cities’ goals.
🗒️ Generational wealth transfer for family offices to spark windfall for VC
Pitchbook: The family office landscape is undergoing a profound transformation, fueled by the imminent transfer of generational wealth. Over the next 25 years, an estimated $100 trillion will be handed down to younger generations, with much of that capital flowing through family offices as millennials and Generation Z take the reins.
As the torch passes between generations, it is not only the heirs that are poised to see an influx of capital, but also the venture capital world.
Family offices have historically accounted for a small share of overall VC commitments. However, their participation in the asset class has grown significantly over the past decade as they sought more portfolio diversification. VCs, meanwhile, have been keen to tap new sources of capital amid a competitive fundraising environment.
Top 3 book summaries this week 📚
Read this Before our Next Meeting, by Al Pittampalli
Meetings suck. They can drain energy, money and passion from any company. But there is hope. Watch this summary to put a new form of meeting on your agenda. It will transform your workplace.
Managing (Right) For The First Time, by David Baker
Woken up and found yourself as a leader or in middle management? Chances are nobody has prepared you for this role. Luckily David Baker has some great advice to help you make it through the rest of the day doing more good than damage.
Good Strategy Bad Strategy, by Richard Rumelt
You're the head honcho, the big brain. Now that you've got 'strategy' in your job description it's time to figure out what's good, what's bad, and what to leave for your retirement novel.
