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The BS List - We Don't Like This Space (No. 52)

This is going to be BIG.

I sent a very specific note that outlined the issues that I thought VCs have with many business models in this industry with the subject line “Travel startups suck” and then positioned the company has not falling prey to any of those reasons why someone wouldn’t want to invest in travel. Is it too hard to unseat entrenched incumbents?

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Venture capital funding may have slowed, but VC firms have no problems raising new funds

TechCrunch

Haris Khurshid, general partner at Chalo Ventures , launched a $50 million second fund focused on investing in Pakistani startups and a smaller percentage in Latin American startups. Khurshid said that he expects to close by the end of the second quarter and start investing in the third quarter.

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The Opening

A VC: Musings of a VC in NYC

I like to think of investing in new things a bit like a football running play. So the existing incumbents are the defensive line. And they are not taking on any of the incumbents directly. Imagine you are the running back. You’ve been handed the football and you are looking for a hole to open up and run through.

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Build a company, not a feature

TechCrunch

It’s rarer still that companies built on a feature make for VC-investable companies with the potential for VC-scale returns. Startups often fall into the trap of writing off incumbents as too big to act, too clueless to know what customers want and too incompetent to deliver good products.

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Singapore wealth management platform Endowus raises $35M

TechCrunch

Back in 2021 and early 2022, there was a flurry of VC interest in Southeast Asian investment apps. Co-founder and chairman Samuel Rhee told TechCrunch that Endowus is now “multiple times the size of the next player and now competing with large banks and incumbent players.” million in follow-on funding.

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Equity Monday: HungryPanda raises $70M, trade tensions, and cross-border VC

TechCrunch

Namely, the business of VC and startups. That should be good news for payments processors incumbent and startup, as well as other ecommerce businesses, again large, small, and even platform-focused. These broader tensions are changing where VCs are investing their money , notably.

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Extra Crunch roundup: Edtech VC survey, 5 founder mistakes, fintech liquidity, more

TechCrunch

Mercedes Bent and Bradley Twohig , partners, Lightspeed Venture Partners (a multistage generalist fund with investments including Forage, Clever and Outschool). Rising African venture investment powers fintech, clean tech bets in 2020. Rising African venture investment powers fintech, clean tech bets in 2020. yourprotagonist.

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