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Equity is catching you up on the weekend's news with xAI's $6 billion round to compete in the AI race, the fallout from Synapse's bankruptcy, and a new way to fight misinformation. ....
It is also a very topical one: "The greatest source of liquidity now is going to be continuation funds," VC Roger Ehrenberg predicted in a recent episode of the 20VC podcast. Continuation funds, which are common in private equity [PE] but rare in venture capital, are a secondary investment vehicle that allows them to “reset the clock” for several years on some assets in old funds by selling them to a new vehicle that they also control. This helps a VC fund’s backers, known as “limited partners,” to roll over their investment or exit. ....
Welcome to the very last issue of The Exchange! With TechCrunch+ sunsetting this month, The Exchange column and its newsletter are also coming to an end. ....
This week Becca and Dom are joined by Shan-Lyn Ma, the co-founder and CEO of Zola, an online platform for wedding planning and gift registries. Ma talked about why she decided to launch the business after trying to buy a gift for a friend and realizing that wedding registries were still living in the past. How Zola navigated through the pandemic, which completely disrupted the wedding industry. ....