Venture capital investment firm Prime Movers Lab announced that it has raised a $500 million growth fund to expand its investments in growth-stage startups. The fund will be focused on growth rounds for companies in its existing portfolio, new investments.
, venture capital investment firm Prime Movers Lab announced that it has raised a $500 million fund to expand its investments in growth-stage startups. The fund will be focused on growth rounds for companies in its existing portfolio as well as new investments.
On the surface, it might seem like a rough time to be starting a new venture capital fund, as firms have been slowing down their rate of investment., this past August saw the lowest amount of monthly venture funding since August of 2022. Venture capital investments overall were down 10% from July and 52% year over year.
“At this point, there are a dozen very specific niches that we know we’re looking for,” Sloss says. ‘We just haven’t found the right deal yet.”
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