Hustle Fund hits $33.6m final close of second global pre-seed fund
February 23, 2021
Singapore- and Silicon Valley-based seed investor Hustle Fund has raised $33.6 million for the final close of its second global pre-seed fund.
Hustle Fund 2’s anchor limited partners are US venture capital firm Foundry Group Next, Taiwanese corporate Far Eastern Group, Japanese corporate venture arm LINE Ventures, and Chinese private investment firm Shanda Group.
Both LINE Ventures and Shanda Group re-joined this vehicle, having anchored Hustle’s $11.5 million debut fund in 2019.
Hustle Fund targets the pre-seed segment, writing $25,000 first cheques in startups before working alongside the team to determine follow-on rounds. It plans to deploy up to one-third of the fund in Southeast Asian companies in Hong Kong and Australia, among other places, while the remaining will be invested in North American startups.
Turn Biotechnologies Expands the Potential of its mRNA Platform by Licensing Unique Artificial Niche Technology
Niche tech unlocks the power of Turn science for other parts of body
News provided by
Share this article
Share this article
MOUNTAIN VIEW, Calif., Feb. 3, 2021 /PRNewswire/ Turn Biotechnologies, a company developing medicines for currently untreatable age-related conditions, announced that it has acquired the global rights for new artificial niche (AN) technology that can be used to restore muscle stem cells damaged by aging.
The artificial niche replicates the environment of muscle stem cells through enriched media and structural support via engineered muscle fibers (EMFs). This confocal microscopy image shows how EMFs replicate the shape and collagen content (green) of a muscle fiber (myofiber) to tether isolated muscle stem cells (blue). High resolution electron micrographs on right confirm muscle stem cell anchoring. (Source: Turn Biotechnologies)
What it does:10x Genomics makes software for researchers to perform single cell and whole genome sequencing. Its software can be used for immunotherapy and cell therapy research in cancer patients or patients with rare genetic disorders. The Silicon Valley-based company was founded by Serge Saxonov, formerly the founding director of research at consumer genetics company 23andMe.
Deal details: SoftBank participated in the company s $125 million Series D funding round in 2018 that valued the company at $1.25 billion. It went public in September 2019 and was valued above $3.6 billion in its debut. SoftBank is no longer invested in 10x Genomics.
Other investors: Venrock, Fidelity International, Foresight Capital Management, and Paladin Capital Group
/PRNewswire/ Turn Biotechnologies, a company developing medicines for currently untreatable age-related conditions, announced that it has acquired the.
Shanda Group sold half its CHS stock in past two months
Modern Healthcare Illustration / Getty Images
A major Community Health Systems shareholder has sold off half its stock over the past two months, cashing in on a price surge that followed an unexpected earning rebound and news that the company s CEO is stepping down.
Singapore-based Shanda Group, led by billionaire investor Tianqiao Chen, sold nearly $110 million worth of common stock in the investor-owned hospital chain across a series of transactions in November and December, bringing its stake down to 12.2% of the company s outstanding shares, according to the Securities and Exchange Commission. That s down from 24% in November, a stake Shanda had maintained since 2018.