🗒️ Kairos Capital Legal Advisors launch Project Esther to empower Black-led venture capital funds
The Atlanta Voice: In today’s dynamic business landscape, access to legal counsel is crucial for the success and sustainability of any venture capital firm. According to a 2022 study by TechCrunch, 1% of all venture capital funding went to Black-founded companies — an estimated $2.3 billion of a total $215.9 billion. For women founders, the rate was slightly higher, at 1.9%.
However, Founder Dar’shun Kendrick recognizes that not all organizations have equal access to these resources, especially within underrepresented communities. That’s why she launched Project Esther with her firm, Kairos Capital Legal Advisors (KCLA). Project Esther is a bold move towards leveling the playing field by offering pro bono legal advice to three Black-led venture capital funds for one calendar year. By providing these vital resources, Kairos aims to empower these funds to navigate legal complexities confidently, enabling them to focus more on their core mission of driving innovation and fostering entrepreneurship within their communities. It also includes access to investment networks.
🗒️ Venture Capitalists Explain How to Pitch Your Crypto Project to Raise Capital
Be In Crypto: Crafting a compelling pitch for a crypto project is essential in capturing the attention of venture capitalists (VCs), who sift through hundreds of proposals weekly.
Still, invaluable insights can be learned into what VCs look for in crypto startups. These include outlining a blueprint for entrepreneurs to refine their approach, focusing on timing, clarity, market understanding, team composition, and community engagement.
Building the Perfect Pitch
Danilo Carlucci, Founder and CEO of Morningstar Ventures, told BeInCrypto that timing is critical. Startups should engage VCs only when they have a Proof of Concept (PoC) that demonstrates their product’s or service’s feasibility and potential. This stage is crucial for eliciting initial interest and feedback from investors.
🗒️ Crypto Market Sees Soaring Interest From VC Firms Amid Bullish Sentiment
CoinGape: The digital asset sector is experiencing a notable increase in attention from venture capital (VC) firms, driven by the rising appeal of the crypto market worldwide. This surge coincides with a bullish trend in the crypto market, which has led to significant growth in the prices of various cryptocurrencies, including Bitcoin.
Venture Capital Firms Flock To Crypto Market
The recent rally in the crypto market and growing institutional interest from the Wall Street players have bolstered the sentiment of the VC firms towards the segment. Notably, the increasing popularity of the Bitcoin ETF, as well as Bitcoin demands from players like Michael Saylor’s Microstrategy reflects the market’s shifting focus towards the digital asset space.
🗒️ Saudi Arabia plans $40bn AI fund
Punch NG: Saudi Arabia’s sovereign wealth fund is in talks with American venture capital firm Andreessen Horowitz and potentially others to create a $40bn fund to invest in artificial intelligence, according to reporting by The New York Times, which was later confirmed by CNBC sources.
The move, which two people with knowledge of the matter told CNBC has been under discussion for months, would see a partnership formed between Saudi Arabia’s $925bn Public Investment Fund and Andreessen Horowitz, one of Silicon Valley’s largest venture capital firms.
Top 3 book summaries this week 📚
Little Bets, by Peter Sims
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.
Obliquity, by John Kay
What is obliquity? Economist John Kay argues that being different, paradoxical and counter-intuitive, often yields surprising results. Do a George Costanza, try an Opposite Day. See what happens!
Start With Why, by Simon Sinek
Do you ever ask yourself why am I doing this? Why are others so much successful than me? Why is that company getting so much more attention? Well, starting with the right question will lead you to the right answer...So start right here.
