#venture capital
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American Bitcoin ETFs Make Their Way to India
American spot Bitcoin ETFs are set to become accessible to Indian users through the Mudrex cryptocurrency investment platform, backed by the venture capital fund Y Combinator. Initially, only the four most popular ETFs from BlackRock, Fidelity, Franklin Templeton, and Vanguard will be offered for sale. Sleepless AI Receives Backing from Folius Ventures
Folius Ventures, a venture capital company, has recently invested in the gaming studio Sleepless AI, renowned for its innovative blend of blockchain and artificial intelligence in gaming. The studio's development team is keenly focused on crafting immersive game experiences enhanced by AI companions. 
The ECOMI Phenomenon: Collectibles Go Digital!
The venture capital fund has reduced its funding for crypto projects from $585 million to $200 million. Moreover, it's halved investments aimed at backing individual investors.
"We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners," commented representatives from Sequoia Capital. 
User Discontent Surrounds AI Development Open Letter
SV Angel, a venture capital fund, has rallied companies such as OpenAI and Microsoft to endorse an open letter urging the ethical development of artificial intelligence for the greater good of humanity. OpenAI's CEO, Sam Altman, praised the initiative and signed it on behalf of the company. 
Microsoft Forms an AI Lobby: Expert Insights
Roger McNamee, a co-founder of the venture capital firm Elevation Partners, provides a unique insight into the recent gathering of tech industry leaders at Capitol Hill. Fierce competitors—Microsoft, Alphabet, Meta Platforms, X, and others—convened to discuss the future of AI. 
Arthur Hayes Proposes a Return to the ICO Model
BitMEX co-founder Arthur Hayes has published a thought-provoking essay, The Cure, in which he critiques the current trajectory of the crypto industry. He highlights how venture capital has steered the sector away from its decentralized origins and proposes a solution: bringing back the ICO model. Morgan Creek Digital Launches $500 Million Fund
American company Morgan Creek Digital plans to raise $500 million for its new Web3 Venture Capital Fund, which will focus on artificial intelligence, blockchain technologies, chip manufacturing, and data processing. This initiative is part of the firm’s strategy to expand its presence in Europe, Africa, and other regions, building on its already managed assets of over $440 million. Polymarket Attracts New Capital
Venture capital firm Founders Fund, co-founded by Peter Thiel, has invested in the cryptocurrency prediction market platform Polymarket, which allows users to place bets on various events, including U.S. presidential elections. The project has raised a total of $70 million, with even Vitalik Buterin joining in as one of the investors. Injecting Capital into Innovation: Hack VC's New Funding
Hack VC, a U.S.-based venture capital firm, has successfully amassed $150 million for investments in digital asset-related projects. The company is setting its sights on early-stage startups, with a portion of its team already operating from its New York base. PitchBook: Venture Capitalists Shifting Away from Crypto Startups
AI startups retain their status as venture capital favorites, while the cryptocurrency sector faces a waning interest. Recognized as one of the most over-invested market segments, the crypto industry's outlook is becoming increasingly cautious, as highlighted in PitchBook's recent VC Tech Survey. FTX fraud leads to legal action against venture capital firms
Several leading venture capital companies such as Temasek, Sequoia Capital, and Softbank, are now facing legal challenges over alleged complicity in FTX fraud.
The claimants in the lawsuit accuse the investors of using their power and financial resources to support the exchange's activities, despite numerous legal violations and misappropriation of customer funds by FTX.
For instance, before the eventual bankruptcy of the exchange, Temasek affirmed that their rigorous eight-month scrutiny of financial aspects and compliance standards yielded no troubling findings.