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Sundheim's D1 Shakes Off Its $4 Billion Reddit-Fueled Fiasco


Sundheim’s D1 Shakes Off Its $4 Billion Reddit-Fueled Fiasco
Bloomberg
1 hr ago
Hema Parmar and Katherine Burton
(Bloomberg) It was the kind of moment that would normally sink a hedge fund: Dan Sundheim was on Zoom, apologizing to clients for losing $4 billion in a single month. He ticked off strategy changes, noted he wasn’t going to dock his team’s pay and then headed back to work.
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Now, mere weeks later, the episode is behind him.
Sundheim has recouped about 90% of what he lost in January when retail investors attacked his short bets on the likes of GameStop Corp. That recovery has put his D1 Capital Partners back into one of the most rapid ascents ever seen in money management. His presentation that February day fit what investors have come to expect from the 44-year-old billionaire unemotional yet sincere, supportive of his 51-member team, and unfazed by risk attributes they say helped him amass $20 bi ....

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DriveNets reels in $208M for its container-based carrier networking platform


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DriveNets Ltd., a startup developing a software container-based networking platform for carriers, today announced that it has raised $208 million in funding at a valuation exceeding $1 billion. 
D1 Capital Partners led the round with participation from Atreides Management as well as returning DriveNets backers Bessemer and Pitango. The last two firms have made “significant follow-on investments,” according to the startup. Bessemer and Pitango previously jointly led a $110 million funding round for DriveNets in early 2019.
Israel-based DriveNets provides a software platform that carriers and cloud providers can use to manage their networks. AT&T, one of the largest carriers in the U.S., disclosed late last year that it has adopted the platform to help manage its data traffic. DriveNets is hoping to use the new $208 million in funding to expand geographically and win deals with additional service providers around the world. ....

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