Bitcoin Rollercoaster – March 5



Hi there, dear reader. Probably you have noticed that we were quiet for a while. Its been a tough month, but we are still on track and hope to bring some fresh insights from the industry. In the meantime we did not observe large tech deals of startup financing, though there were quite exciting news from the other side. VC activity is rising and we predict more news from the industry giants to come up.

– Artem and Alexander


Industry Review

The bitcoin headlines are still coming in hard and fast, despite a harrowing drop from December highs of nearly $20,000. The sentiment bubble remains intact. But are prices headed even lower? Goldman Sachs analysts take on the lead to investigate will the new largest financial bubble after the Tulip Mania elapse.


Business Growth Fund, the £2.5 billion investment company set up by the UK’s big banks, is to restructure its $270 million venture arm to focus more on companies outside of London. The changes mean that three of BGF Ventures’ partners will leave their full-time positions: Rory Stirling, Harry Briggs, and Wendy Tan White. Wendy Tan White will continue to advise the fund.


Latest Invest Rounds

Balderton Capital, with participation from existing investors EQT Ventures, IDInvest and Sunstone has invested $22 million during a Series B funding round in Peakon, a London, UK-based provider of people analytics & employee engagement software. The company intends to use the funds to expand operations and global presence as well as to grow its development efforts.


BGF Ventures leads a $4.1 million Serias A invedtment round of TickX, a three-year-old, Manchester, U.K.-based startup behind a search engine and discovery platform for events and other “attractions” tickets. The money will be used to support the company’s international expansion. Existing backers Ministry of Sound and 24Haymarket also participated the round.


Partech Ventures has led the $2.5 million round for QuasarDB, the provider of a platform for handling real-time data, primarily for financial markets. The company has now raised $3.5 million in total VC financing.


Deutsche Telekom Capital Partners with participation from B37, Purple Arch, Kleiner Perkins and Munich Re has invested $30 million in German IoT startup Relayr, a developer of an enterprise cloud platform for aggregating data from industrial IoT devices.


360 Capital Partners, Supernova Invest, iBionext, Intel Capital, Renault Group and Robert Bosch Venture Capital has invested $19 million in Prophesee, the machine vision startup formerly known as Chronocamduring a Series B round of financing. The Paris-based startup’s machine vision technology mimics the human eye and brain and processes up to 100,000 frames per second.



Kindred Capital has closed its debut seed fund on $110 million. The vehicle, which is based on an equitable venture model that allows founders to receive a share of the fund’s profits, targets early-stage deals in European tech startups.


Blossom Capital, a new London-based venture firm cofounded by Ophelia Brown (formerly of LocalGlobe and Index Ventures), is in the process of raising between $75 million and $100 million for its debut fund. The capital will reportedly be used to fund European startups.


Causeway Media Partners, a growth-stage venture capital firm focused on sports media, sports technology, and related companies, today announced the closing of Causeway Media Partners II with $211.3 million in capital commitments, exceeding its $175 million target.


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