Startup news from around the world.
Bain Capital Ventures closed a $600 million fund to back technology startups, showing investors continue to pour money into the industry despite anemic exits and hand-wringing over bloated valuations. Bain’s fund, which was disclosed Friday in a filing with the Securities and Exchange Commission, comes as investors have buoyed total venture fundraising to $22.5 billionduring the first half of 2016. If that pace continues, this year will easily outstrip the $36 billion raised by funds in 2015 and mark a high not seen in more than a decade.
Publicis Groupe, one of the “big four” advertising agencies in the world, has revealed the 90 startups that won the Publicis90 global initiative at the Viva Technology Conference in Paris, France. The 90 winners will receive investment ranging from $11k to $554k alongside mentoring from the advertising giant.
Haley Van Dyck is transforming the way America delivers critical services to everyday people. At the United States Digital Service, Van Dyck and her team are using lessons learned by Silicon Valley and the private sector to improve services for veterans, immigrants, the disabled and others, creating a more awesome government along the way. “We don’t care about politics,” she says. “We care about making government work better, because it’s the only one we’ve got.”
Josh March, CEO of customer service software provider Conversocial, is contemplating a move from London to somewhere else in Europe following Britain’s decision to leave the EU. March is concerned that Brexit will make it harder for him to hire engineers from across the continent at his company, which has raised $22 million (£16 million) since it was founded in 2009.