Seed Stage Slaughter

‘New Tech City’ Won’t Keep You From the Startup Graveyard

newtechcitycover

The Center for an Urban Future, a think tank headed by Jonathan Bowles, has released a lengthy report  about New York City’s tech sector, titled “New Tech City.” The Center’s findings indicate amazing growth over the last decade. While “New Tech City” contains mostly good news for the local tech set, there is a dash of cold water–just a bit–to leaven any prospective startup’s bright-eyed optimism.

First, the good news! Read More

Round 2

Thrive Capital Reportedly Raising New $40 M. Fund

Good lord, we look like a bad Wooly Willy

We had no idea. Really. These dudes tell us nothing. Nobody wants this to be an Arrington-SV Angel style relationship more than us, but they’re not buying it.

As we reported earlier today, Thrive Capital just had a big, 17X exit with GroupMe that is a feather in the cap of the young fund.

Now Fortune is reporting that Thrive Capital has raised a new, $40 million fund, a step up from their first $10 million fund. Aside from GroupMe, Thrive also had an exit when Hot Potato sold to Facebook. OnSwipe, a Thrive company, recently raised $5 million.

Small VCs, like start-ups, would be wise to close their financing now, before macro-economic uncertainties get any worse.

Disclosure.

Funding

New VC, Level Equity, Joins Silicon Alley Party with $120 M. Fund

The local ecosystem is already flooded with early stage capital, with venture firms in California and Boston directing more of their investment towards New York.

Now a group of digital vets has raised a monster $120 million fund for Level Equity, to invest in media and tech firms. Three of the founders — Benjamin Levin, George McCulloch and Sarah Haas, come from Insight Ventures, with Glen Shields joing from LeverPoint.

The group has a number of IPOs under its belt and Insight has a couple of hot web companies in its portfolio, including Flipboard and Twitter.  Read More

Tech Bubble Watch

The Littlest Angels

justin wohlstadter

Justin Wohlstadter navigated easily through the crush of long-legged beauties and laptop jockeys crowding the lobby of the Ace Hotel on a chilly Thursday night. His informal office when he’s not in the U.K. doing postgraduate work at Oxford, the wood-paneled bar is also his hunting ground for tech deals to fund Read More