March 31, 2021 Distressed investment specialist Cerberus Capital Management has hit a $2.8bn final close for its latest flagship opportunistic real estate fund.
AltAssets has been serving the global private equity industry for over a decade and has become established as a trusted source of independent news and views on the industry by thousands of professionals worldwide.
A former NEA partner and a former Uber exec just closed their $140 million debut VC fund
Dayna Grayson and Rachel Holt seemingly didn’t have the best timing. It was late in 2019 when the two, who met six years ago in Washington through a mutual acquaintance, decided to act on earlier conversations and start a fund together called Construct Capital.
At the time, Grayson spied an opportunity to create a new venture brand that focused largely on the types of manufacturing-related deals that she was funding inside of the investing giant NEA, which she joined in 2012.
Holt, who’d joined Uber in 2011, rising from a city general manager in Washington to the eventual head of the company’s mobility unit in 2018, was also ready for a change and excited about the prospect of investing full time, having been brought into NEA by Grayson to scout out nascent deals on the side.
Extra Crunch roundup: Antitrust jitters, SPAC odyssey, white-hot IPOs, more
Some time ago, I gave up on the idea of finding a thread that connects each story in the weekly Extra Crunch roundup; there are no unified theories of technology news.
Watching Plaid and Visa sing “Let’s Call The Whole Thing Off” in harmony after the U.S. Department of Justice filed a lawsuit to block their deal wasn’t shocking. But I was surprised to find myself editing an interview Alex Wilhelm conducted with Plaid CEO Zach Perret the next day in which the executive said growing the company on its own is “once again” the correct strategy.
News Category Global Banking & Finance Reviews
Desktop Metal Announces Appointment of Scott Dussault as New Director Following Recent Election of Stephen Nigro
Desktop Metal Announces Appointment of Scott Dussault as New Director Following Recent Election of Stephen Nigro Desktop Metal (NYSE: DM), a leader in mass production and turnkey additive manufacturing solutions, today announced the appointment of Scott Dussault to its Board of Directors effective as of December 18, 2020. Dussault was also appointed to serve on the Audit Committee of the Board as its Chairman. Dussaults appointment follows the recent election of Stephen Nigro to the Board of Directors effective as of the closing of its recent business combination with Trine Acquisition Corp. on December 9, 2020.
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Back in the 1990s, the casino industry unwillingly provided the seed capital to found what became one of the major providers of 3D computer-aided design software.
SolidWorks Inc. got its start in 1993 thanks to capital and entrepreneurial initiative provided by Jon Hirschtick, an MIT graduate who was part of a team of students that developed a card-counting system to win huge sums of money in Las Vegas during the late 1980s and early 1990s. The group became the subject of a best-selling book and Hollywood movie, and Hirschtick used $1 million of his winnings to found SolidWorks.
After selling the company to Dessault Systems SA in 1997, Hirschtick went on to co-found Onshape Inc., which was acquired by PTC Inc. in 2019 for $470 million. He’s still taking calculated risks today, this time as president of the Software-as-a-Service Division at PTC. But now his gambles are in engineering labs instead smoky casino floors.