Exxon also has the lead in the $5 billion core venture 2, Red Sea, which includes Occidental and Marathon.
The core venture fund represents an 8percentt bump from the previous $600 million fund that Bain raised in 2012 for its last venture investment vehicle, and both funds were two times oversubscribed, according to the document.
Carl Icahn, an activist investor, has started circling; he disclosed an 8.5% stake in Hertz.Mining for profitBHP Billiton confirmed that it will spin off its less-profitable assets into a separately traded company in order to focus on its core ventures in iron ore, copper, coal, petroleum and potash.
These presumably included their enthusiasm for non-core ventures such as renewable energy.
In the meantime, management was also amusing itself with new non-core ventures like Boston Market, Chipotle's, Donato's and Pret-a-Manger.
SoftTech Ventures led the funding round, with participation from Maven Ventures, Precursor Ventures, Sound Ventures, Sherpa Ventures, Core VC, Founders Fund, Y Combinator, and several angel investors.
Arjan Schutte of Core, a venture-capital firm that invests in financial-technology companies, says "the term 'unbanked' suggests a role for banks that's largely assumed…But one big trend is the erosion of banks' significance".The bundles of services that banks have traditionally provided credit, money storage, payments and so on are being picked apart and sold individually.
We are in the very early days of the adoption of software and algorithms as a core part of venture capital firms operational DNA.
FundersClub's opportunity to become a core piece of venture capital infrastructure helped it raise the biggest seed round in YC alum history — $6 million from big names like First Round Capital, Felicis Ventures, Chris Dixon, and Aaron Levie.
Our core thesis: sustainable ventures and assets are misunderstood and undervalued, and companies and projects that use scarce natural resources wisely have a competitive edge over their wasteful counterparts.
As long as the venture money, core innovation and the key management comes from here — a lot.
