Many of you know that I am originally from Hong Kong. Despite all the social unrest, eight Hong Kong companies have now crossed the $1 billion valuation unicorns status.
Collectively, they’ve raised over $5.46 billion in sectors ranging from crypto to logistics. Home to 96 billionaires, Hong Kong has no shortage of funding. Unfortunately, most of the investors come from traditional industries and often invest in startups the wrong way. So I did this talk titled Startup Investing 101 for Angels with FoundersHK.
US employers added 943,000 jobs in July, marking the best monthly performance since August 2020, and the unemployment rate ticked down to 5.4% compared to over 14% in April 2020. The highest rate of U.S. unemployment was 24.9% in 1933, during the Great Depression.
My favorite writer Matt Levine and my favorite portfolio founder Sam Bankman-Fried (founder of FTX) got together and did a podcast on crypto exchanges and market structure and Tether. Check it out.
We started a new job board for all of our portfolio companies at Race Capital. Check it out!
This week a total of 22 startups raised $1.3695B in funding, 3 M&As:
$440.5M goes to 10 Enterprise startups
$234M goes to 2 FinTech startups
$30M goes to 1 Blockchain startup
$35M goes to 1 EdTech startup
$40M goes to 1 Robotics startup
$40M goes to 1 Logistics startup
$72M goes to 1 Marketplace startup
$3M goes to 1 Gaming startup
$466M goes to 2 BioTech startups
$9M goes to 2 Other startups
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