The round was led by Portal Ventures, SNZ Capital and renowned angel investors, who all share the same vision that SocialFi is primed to become the largest consumer use case for mass adoption in Asia

HONG KONG, May 28, 2024 — Today, OpenSocial Protocol (OpenSocial), a composable infrastructure layer for building social applications, announced the successful completion of a $5M seed funding round. OpenSocial is a multichain SocialFi infrastructure protocol empowering developers and creators to effortlessly build social dApps. Led by infrastructure investors Portal Ventures and SNZ Capital (early backers of Ethereum, Chainlink, Cosmos, Arbitrum, Polkadot and Dfinity), the round opened in December 2023 and closed in January 2024. 

Other investors included Animoca Brands (HK), Awesome People Ventures (US), Arche Fund (Vietnam), Decima Fund (Japan), Moonrock Capital (EU), OKX Ventures, Orange DAO (US), Panony, Summer Ventures (HK); and renowned web3 entrepreneurs include Smokey the Bera, Brian Fabian Crain, Mike Dudas, Martin El-Khouri, Roham Gharegozlou, Don Ho, Mable Jiang, Adam Jin, Serge Kassardjian, and Jason Yano.

OpenSocial Protocol is founded by Everest Ventures Group (EVG), one of the largest web3 operating groups in Asia focused on consumer applications. They have 300 full-time builders with backgrounds from Alibaba, ByteDance, Tencent and NetEase and 2M+ users across its products. EVG is also an early supporter of Animoca Brands, the Sandbox and Dapper Labs.

EVG set aside a $15M ecosystem fund for developers to build on OpenSocial. EVG has also deployed 30 of its best in-house builders to develop OpenSocial. There are also 50 additional developers building dApps on top of OpenSocial, outside of EVG.

What is OpenSocial Protocol?

OpenSocial is an open-source social infrastructure layer to power native web3 social experiences.  Founded in 2023, OpenSocial aims to empower thousands of community dApps with infrastructure and UI-layer composabilities, true ownership of intellectual property and relationship, and better-aligned monetisation and financial incentives.

The modular design with easy-to-deploy social tools on a multichain approach enables developers and creators to assemble dApps quickly and economically.

These modules can be either on-chain or off-chain and include: feed, chatroom, text/video/audio/posts, comments, reactions, voting, share, on-chain social graphs (social data and structure), tribes (user and topic based communities), megaphones (an advertising engine), as well as plug-ins (token issuance, DAO tools, betting, voting, bounties, matching, mini-games).

“These modules and tools are designed to provide both an emotionally captivating and financially rewarding social experience covering accessibility, ownership and monetization opportunities to end users and communities,” noted Sean Tao, Co-Founder of OpenSocial Protocol. 

Another unique web3 mechanism to be unveiled soon is the portability, self-ownership and self-sovereignty of identities and communities within different ecosystems and products.

Why social, why now?

Social has the potential to become the largest consumer use case for mass adoption of web3. The evolution of the internet’s use cases provide a precedent. Social was not a core use case in the first 6 years of the consumer internet (1997-2003) as marketplaces, portals, and games dominated but it emerged to social giants of today as a leading use case in the second phase of post dot.com bubble (2004-2010) as costs declined and adoption grew. SocialFi projects struggle to reach their full potential without the right technology and consumer readiness, similar to Social’s early path in web2. Asian social app adoption is an important factor in EVG’s decision to launch OpenSocial too.

“Importantly, Asia represents more than half of the world’s social media users, with nearly 3 billion people actively using social platforms every day. We think SocialFi’s ‘Axie moment’ will happen this cycle and likely take place in Asia. And the SocialFi trend in Asia will prove that social is a layer not media,” said Allen Ng, CEO of EVG and Co-Founder of OpenSocial Protocol.

“We are thrilled to have such powerful network effects from our very strategic investors. We come from a venture studio operation with backgrounds from Bytedance, Tencent, Alibaba that understand user preferences. OpenSocial’s design principles and dApps strategies are very different from the western-centric players, leveraging on our learning and advantages in Asia, we envision powering hundreds if not thousands of community dApps in 5 years,” said Tao.

dApps already available on OpenSocial

With the $15M ecosystem fund to empower the next-generation super apps, OpenSocial has already launched its first dApp SoMon (“Social Monster”), a truly decentralized topic-based forum owned by users and communities with degen mechanics and sustainable rewards.

There are various platforms and SocialFi use cases powered by OpenSocial that are soon to launch, including Zeek – a decentralized collaboration network for on-chain social bounty and reputation, backed by OKX Ventures and Animoca Brands.

OpenSocial’s investors are excited

“OpenSocial combines lessons from leading Asia consumer internet businesses like WeChat with a deep understanding of crypto native preferences. The team is building an infrastructure layer that will power an ecosystem of new, community-driven social experiences. Users demand novel financialized experiences – OpenSocial makes that possible,” said Evan Fisher, Founder & Managing Partner of Portal Ventures.

“In the last five years, EVG has grown from a start-up to one of the largest web3 consumer groups in Asia. OpenSocial is the flagship project of EVG and the team is building multiple dApps on top, which we believe could be the right product at the right time for the right team to deliver. SocialFi is a very challenging and competitive sector with huge potential, while OpenSocial along with SoMon, Zeek and others dApps, has a great chance to be the game changer,” Gavin Wang, CIO of SNZ Capital.

“We are proud to back OpenSocial in its endeavor to empower creators and developers to build social capital and innovate at the forefront of SocialFi. I am confident that OpenSocial will enable the first transformative steps in how we engage digitally, and look forward to incubating unique Japanese collaborations leveraging OpenSocial,” noted Ken Kitahara, Co-founder & General Partner of Decima Fund.

“OpenSocial is well-positioned to fill the social need with its modular, community-owned approach tailored for mobile-first markets like Vietnam. I believe that through OpenSocial’s infrastructure, we will see many innovative Vietnamese social applications emerge that strengthen real-world connections and celebrate local culture in new ways,” said Thanh Le, Founder of Ninety Eight.

About OpenSocial

OpenSocial Protocol (OpenSocial) is a multichain SocialFi infrastructure empowering developers and creators to effortlessly build social dApps. Leveraging its robust social graph and modular design, OpenSocial enables transparent content promotion to specific user groups, ensuring fair value distribution among all stakeholders. OpenSocial offers the best data, tooling, and financial layer and its vision is to enable the largest multi-chain social economy.

OpenSocial Protocol is founded by Everest Ventures Group.

Website: www.opensocial.co

Twitter: https://twitter.com/OpenSocialLabs

About EVG

Headquartered in Hong Kong, Everest Ventures Group (EVG) is a web3 operating group driving mass adoption of web3.  With a global team of 300, we have built and launched a diverse portfolio of products for the future of digital interaction across use cases, such as Aspen Digital, Mugen Interactive, Kiki, LiveArt, Blocktempo, Cassava Network, and Adverse. As an early investor and lead advisor we have contributed to unicorns, and 150+ defining projects such as Celestia, Wormhole, Berachain, Dapper Labs (Flow), Animoca Brands, Immutable, The Sandbox, Yuga Labs, Kraken, Lukka, Dunamu and Blocklords.

Website: https://www.evg.co/

Twitter: https://twitter.com/EVGHQ/

MEDIA CONTACT:

Gemma
[email protected]

SOURCE OpenSocial Protocol

AUSTIN, Texas, May 28, 2024 — Pennybacker Capital Management, LLC (Pennybacker), a real assets investment manager, today announced the final closing of its sixth value opportunity series fund, Pennybacker VI, LP (Fund VI), which exceeded its target with $1.6 billion in capital commitments.

Fund VI received strong support from its existing investor base and has attracted numerous first-time commitments from leading institutional investors. Fund VI seeks to invest in U.S. real estate assets across equity and debt opportunities.

“The continued growth of our value opportunity fund series is a testament to the partnerships we have forged and our track record as a real estate investor,” said Tim Berry, Founder, CEO, and Co-Chief Investment Officer of Pennybacker. “We are excited to put Fund VI commitments to work given the backdrop of dislocation across real estate capital markets and our deep experience finding and creating value during turbulent times. Our ability to execute across the capital spectrum, property sectors, and U.S. regions presents what we believe to be a compelling risk-adjusted opportunity for our investors.”

“We are grateful for the continued support from our existing investors and welcome many new relationships to Pennybacker. The commitment to Fund VI in a challenging fundraising environment validates the trust we have built and performance we have delivered across cycles,” said Andrew Knox, Managing Director and Head of Capital Formation of Pennybacker.

About Pennybacker

Pennybacker is a real assets investment manager based in Austin, Texas, with approximately $4 billion in assets under management. The firm pursues real estate and infrastructure strategies through closed-end and open-ended vehicles across the capital structure. For more information, visit https://www.pennybackercap.com.

Media Contacts
[email protected]

SOURCE Pennybacker Capital Management, LLC

Ducky’s Machine Learning Technology Surfaces Answers, Unlocking Support Agents’ Problem-Solving Superpowers

NASHVILLE, Tenn., May 28, 2024 — Ducky, an AI-powered support platform unlocking customer support agents’ problem-solving superpowers, today announced it raised a $2.7M round of pre-seed funding led by Penny Jar Capital, with participation from Bread & Butter Ventures, NOMO Ventures, Wilson Sonsini, angel investors and others. Ducky uses machine learning and AI to make internal knowledge sources instantly accessible for customer-facing teams by automatically delivering relevant information and an on-brand customer response. By increasing productivity, customer-focused teams have more time to problem-solve the most challenging cases with care. Coming out of stealth, Ducky’s initial clients include customer-focused companies like Superhuman and others.

“There is a rush to use AI to deflect customers and prevent human interaction – we believe AI is more powerful when supporting humans, not replacing them,” said James O’Brien, co-founder and COO of Ducky. “By removing the blocker of finding the right information and handling repetitive questions, agents can focus on the aspects of their work that create impactful, lasting customer relationships.”

“The information support agents need to do their jobs is buried in a myriad of distinct places, and the effort to search and discover is an emotionally draining, time-sucking experience – not an ideal environment for the team who is a gateway to your customers,” said Hongbo Tian, co-founder and CEO, Ducky. “We believe the best way to create an incredible experience for customers is to put AI and machine learning to work for – and learn from – the incredible support agents on the frontlines.”

By combining open-source and proprietary technology, Ducky’s AI-powered support platform learns from internal knowledge tools like Slack, Notion, and JIRA, to help support agents respond to tickets faster and find the correct information in seconds. In addition, Ducky automatically creates a customer response based on a brand’s tone – ensuring personalized, consistent communication for every interaction. With its Chrome extension, Ducky works alongside any support ticketing platform, including Help Scout, Zendesk, Hubspot, Gorgias, and more.

“Knowledge workers spend about one day a week searching for data – this is disastrous when the customer experience hangs in the balance,” said Rich Scudellari, co-founder of Penny Jar Capital. “The Ducky team is solving this data problem with machine learning and AI, freeing up time for support teams to create personalized customer experiences with lasting impact.”

“This is an insanely talented team – Hongbo’s mastery of AI and machine learning, combined with James’ proven track record in business development and scaling SaaS companies, makes them a powerhouse. We’re proud to back the Ducky team in building next-generation tech for customer support,” said Mary Grove, Managing Partner, Bread and Butter Ventures.

About Ducky

Ducky’s AI-powered support platform unlocks customer support agents’ problem-solving superpowers. Founded by Hongbo Tian and James O’Brien, Ducky’s mission is to create amazing, human customer experiences. Ducky’s combination of proprietary and open-sourced machine learning and AI technology makes internal knowledge sources instantly accessible and actionable, allowing support agents to focus on problem-solving the most challenging cases.

Press Contact
Teresa Brewer
[email protected]
408-368-6415

SOURCE Ducky

Sagetap uses AI to match tech executives with the optimal software vendors. Thousands of tech executives from organizations like Nvidia, JP Morgan Chase, Kaiser Permanente, and AirBnB use Sagetap to find the best and most relevant new SaaS tools to adopt.

SAN FRANCISCO, May 28, 2024 — Sagetap, the first AI-driven marketplace matching SaaS buyers and sellers, today announced $6.8M in funding from NFX, Uncorrelated Ventures, Emergent Ventures, and 15 active customers. The company is cash-flow positive and has grown revenue 3X YoY.

Built for busy executives overwhelmed with sales outreach from the explosion of B2B software vendors, Sagetap offers AI-powered product recommendations, one-click demo scheduling, and anonymity controls to block unwanted follow-ups.

Sagetap maintains a database of the most innovative AI startups by aggregating buying activity from their network of tech executives, partnerships with the VC community, and analyzing thousands of technical demos happening on the platform each month.

Their recommendation engine allows tech executives to instantly identify the very best products for new initiatives or upcoming SaaS renewals, ensuring they are selecting the best tools in just a fraction of the time.

“Tech buyers are inundated with cold outreach from vendors, while startups building great solutions struggle to get the market awareness they deserve,” explained Sahil Khanna, co-founder and CEO of Sagetap. “We have the first online platform that helps tech buyers anonymously discover and meet with B2B SaaS startups solving their biggest problems.”

According to Gartner, $1 trillion will be spent on software in 2024. With the accessibility of AI, the number of vendors entering the market and the rate of change to these products will drastically accelerate. Sagetap is already observing an explosion in AI infrastructure startups and an appetite from buyers to run POCs.

Sagetap’s platform is used by thousands of tech executives working on AI Infrastructure, Cybersecurity, DevOps, Cloud & Data Infrastructure.

Vendors on the platform can pay to set up campaigns to target specific buyers, conduct meetings, and request buyer feedback, which is provided asynchronously on the platform. Vendors on the platform report an average ROI of 3X when looking at closed-won business and their Sagetap spend.

The company plans to use the funding to expand its network of tech executives and further develop its product recommendation engine and decision-support tools for buyers.

Quotes

“Sagetap has built a business with incredible network effects. It becomes increasingly more valuable for buyers and sellers by the day,” said James Currier, General Partner at NFX. “I have no doubt in Sahil and Kevin’s ability to continue scaling the marketplace and reinventing how SaaS vendors sell.”

“Sagetap can comprehend and articulate what is happening across the whole of technology. It understands our challenges and allows us to tap into bleeding-edge tech, without needing to be an expert in each category.” – Robin Smith, Aston Martin.

Bionic CMO Stephen Burton shared that his sales team conducted 130 meetings with security executives on the Sagetap platform, resulting in 4X ROI. “If you’re confident that your demo resonates and the story is relevant, then you can validate that on Sagetap with unprecedented access to tech buyers. Validation is really indicated by how many buyers convert.”

About Sagetap

Founded in 2019 by Sahil Khanna and Kevin Hughes, Sagetap is the B2B SaaS Buying Network designed for busy tech executives looking to stay at the forefront of innovation. Based in San Francisco, the company is trusted by thousands of leading technology leaders at major organizations and high-growth software vendors. Learn more at https://www.sagetap.io/.

Media Contact:
Evan Tarver
707-654-3647
[email protected]

SOURCE Sagetap

• Approximately USD 250 million (SAR 920 million) raised from a distinguished group of Saudi, GCC and European investors, led by JADA, PIF’s Fund of Funds Company.
• The Afiyah Fund is the largest of its kind with a major focus on supporting the key medical priorities of Saudi’s Vision 2030 and the Health Sector Transformation Program.
• Including expected co-investments from its strong limited partner base, the firm anticipates mobilizing a total of USD 400-500 million in Saudi Arabian healthcare companies and international companies with major expansion projects in the Kingdom.

RIYADH,Saudi Arabia and DUBAI, UAE, May 28, 2024 — TVM Capital Healthcare, an international healthcare expansion and growth capital investor, today announced the closing of the TVM Healthcare Afiyah Fund LP at approximately USD 250 million, its second pool of capital in the Middle East.  

TVM Capital Healthcare has operated in the Middle East since 2009 and Southeast Asia since 2021. The new fund builds on the firm’s past success investing in the region, providing highly attractive returns and demonstrating its ability to originate deals and develop successful, sustainable companies with excellent growth prospects and strong management teams.

TVM Capital Healthcare identifies unmet healthcare needs and invests in entrepreneurial companies that create lasting impact in their local communities while delivering strong returns to investors. The firm has built a solid reputation as the first international fund manager investing in and operating major healthcare companies in the Kingdom. It also invests in healthcare growth deals in Europe and the U.S. to support these companies’ expansion plans for Saudi Arabia and the wider GCC. With this two-pronged, highly catalytic strategy, TVM Capital Healthcare optimizes its contribution to transforming the Saudi economy and improves access to world-leading products, technologies, and services in the region.

Among the first investments of the fund are:

• Baraya Extended Care, a Riyadh-based chain of long-term, post-acute care and rehabilitation clinics
• DEBx Medical, an Amsterdam-based developer and manufacturer of ground-breaking products for the treatment of chronic wounds that is about to enter the Saudi market
• neurocare Group, a Munich-based leading innovator in personalized mental health services and products, with clinics in the U.S., the Netherlands, and Australia, that is preparing to enter Saudi and the GCC

Other deals include longevity and genomics, oncology, pharma manufacturing, and diagnostics.

Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said, “The closing of TVM Healthcare Afiyah Fund marks an important milestone in mobilizing private capital into Saudi Arabia’s healthcare sector, and we are pleased to lead the investment, providing capital to support the development of the sector in line with Vision 2030.”

Dr. Helmut M. Schuehsler, Chairman and CEO of TVM Capital Healthcare added: “We are proud of attracting a distinguished group of institutional and family investment groups from Saudi, other GCC countries, and Europe for a specialist pool of capital of this size being deployed in domestic companies in the Kingdom and international companies entering the market. We are uniquely positioned for success because our leadership team comprises executives with long-standing expertise in Europe and the U.S., who have built excellent international networks throughout their careers, alongside local Saudi healthcare experts. Plus, we have been investing in the GCC and Egypt for over 13 years, and more specifically, operating in Saudi since 2015 through our former portfolio companies, ProVita International Medical Center and Cambridge International Medical Center. Today, we are truly excited about our ability to enhance the local and regional healthcare ecosystem at a much larger scale, helping to improve access to high-quality patient care, medical products, and treatment regimens across the Kingdom.”

TVM Capital Healthcare has offices in Riyadh, Dubai, Singapore and Ho Chi Minh City and supporting offices in Munich and Boston. It was represented in the fundraise by multinational law firm Morgan Lewis.

About TVM Capital Healthcare
TVM Capital Healthcare is an emerging markets-focused healthcare private equity firm headquartered in Dubai and Singapore, with offices in Riyadh and Ho Chi Minh City and supporting offices in Munich and Boston. The firm invests expansion and growth capital in healthcare companies to improve local access to quality care and provide local sources of medical products in the pharma, medical device and diagnostics sectors. Investment and operating partners, as well as a strong group of regional and international senior advisors have long-standing international track records in healthcare investing, active board work, contributions to strategy development and implementation, as well as deep healthcare operating experience in the relevant markets. The firm partners with local Middle Eastern and Southeast Asian management teams to build domestic or regional sector champions and selectively backs companies from Europe or North America for expansion into the firm’s target geographies.

Medical quality of its service businesses is safeguarded by collaborations with leading international medical technology and clinical partners as well as international accreditation agencies such as Joint Commission International (JCI). TVM Capital Healthcare’s investment and operating approach combines strong commercial value creation and financial returns with responsible investing in alignment with the United Nations Sustainable Development Goals (UN SDGs).
www.tvmcapitalhealthcare.com

Logo: https://mma.prnewswire.com/media/2422646/TVM_Capital_Healthcare_Logo.jpg

SOURCE TVM Capital Healthcare

Led by Jahez Group, funds will accelerate geographic expansion into Saudi Arabia, Europe and the UK

DUBAI, UAE, May 28, 2024 — Grubtech, a leading SaaS integration and unified commerce platform that empowers F&B and Quick Commerce enterprises, announced it has raised $15 million as part of its Series B and a Series A extension round.  The Series B round was led by the VC arm of Jahez Group, a leading online food and quick commerce marketplace listed in Saudi Arabia, with the participation of existing investors Addition and Oryx Fund, the MENA-dedicated fund of Hambro Perks.

Grubtech was founded in 2019 to address the F&B sector’s gap in technology solutions for omnichannel operations.  Its flagship solution, gOnline, provides users a true unified commerce engine by integrating a wide set of online and in-store ordering channels into downstream systems like POS, ERP, Inventory, 3^rd party logistic and loyalty solutions.  Grubtech also has solutions to streamline in-store operations, fulfillment, and AI driven data analysis. 

Grubtech’s customer base across 18 markets has evolved beyond F&B to include other quick commerce category leaders such as groceries and pharmacies. The Company plans to use the proceeds to accelerate geographic expansion and establish offices in Saudi Arabia, Europe and the UK.

“Online F&B and quick commerce sales continue to grow at a rapid pace.  Our products empower our customers to continue using elements of their tech stack, like a POS, while adopting new sales channels and digital solutions seamlessly, getting rid of silos within operations and data,” said Mohamed Al Fayed, Grubtech’s Co-Founder & CEO.  “We are excited to continue our push into different markets where we’ve identified strong demand and growth potential.”

Through Grubtech’s solutions, customers are able to increase sales volumes substantially across multiple channels while also improving fulfillment time and accessing an abundance of real time data accessible for operational and strategic decision making.  After adopting Grubtech’s solutions, operators can easily double sales per square meter and improve speed of service by 25% while saving on operating expenses and reducing wastage.

Abdulaziz Alhouti, Jahez Group’s Chief Investment Officer said, “Having invested in multiple technology solutions across the F&B and Quick Commerce sector, we’ve seen firsthand the value of Grubtech’s integration platform across our merchant base.  We’re excited to back the team at Grubtech as they continue to innovate with new products and push into new geographies.”

Photo: https://mma.prnewswire.com/media/2421654/Grubtech.jpg

SOURCE Grubtech

Leading provider of non-dilutive financing for consumer subscription apps commits to expanding growth partnerships with top-tier brands

NEW YORK, May 28, 2024 — Braavo Capital Inc. (“Braavo”), the leading financing partner for consumer subscription apps, announced today the successful closing of a $5 million Series B funding round. Led by existing insiders with participation from Series A lead investor Headline, and accompanied by a new $30 million debt fund with Upper90, this capital injection marks a significant milestone for Braavo’s continued expansion.

Established in 2015, Braavo has emerged as the global leader in financing solutions for founders seeking to scale their app businesses without resorting to unnecessary equity raises. Having facilitated over $1 billion in financing since inception, the company’s profitability in its core financing operations underscores its commitment to empowering the subscription app economy.

Mark Loranger, CEO & Co-Founder of Braavo, commented, “This new round of equity will fuel Braavo Growth Ventures, an initiative aimed at fostering innovation in the consumer subscription market. While we continue to grow our financing business, we are also excited to apply our years of experience and extensive relationships in the market to embark on this new venture.”

Operating as a distinct division within Braavo Capital, Growth Ventures focuses on strategic partnerships with app businesses to drive subscriber growth through web monetization (commonly known as web2app). Loranger elaborated, “Adding capabilities for web monetization in addition to in-app purchases presents a significant opportunity for subscription app businesses. However, for many, this transition can be daunting and costly.”

After operating in stealth mode for over a year to assemble a skilled team and develop its proprietary growth platform, Growth Ventures is now poised to unveil its web2app offering to a wider audience. Billy Libby, Founder & Managing Partner at Upper90, remarked, “Upper90 was an early credit partner and has been impressed with Braavo’s disciplined approach to underwriting and customer acquisition. We are excited to continue to partner with Braavo on their next phase of growth.”

Beyond web2app, Braavo envisions a broader investment strategy for Growth Ventures, as Loranger noted, “Our focus extends beyond subscriber acquisition. Over time, we aim to forge deeper partnerships with our most successful portfolio companies.”

The Growth Ventures team invites new app partners to join its latest cohort until June 30, 2024. To learn more and submit an inquiry, visit Braavo Growth Ventures.

About Braavo Capital
Founded in New York City in 2015, Braavo Capital now boasts offices across North America, with a European hub in Warsaw, Poland. Since its inception, the company’s technology-driven financing platform for subscription app businesses has facilitated over $1 billion in financing and supported over 8,000 apps. Offering a range of products, from on-demand receivables financing to multi-million dollar bespoke credit facilities, Braavo has cemented its position as the premier funding partner for the world’s most successful app businesses.

CONTACT
Alanna Harvey
[email protected]
Head of Partner Experience
Braavo Growth Ventures

SOURCE Braavo Capital

Curt Jaimungal Will Use His $100,000 O’Shaughnessy Fellowships Grant to Develop an Interdisciplinary Research Platform and Grow His Podcast, “Theories of Everything”

GREENWICH, Conn., May 24, 2024 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has awarded an O’Shaughnessy Fellowship to Curt Jaimungal, a podcast host and mathematical physicist based in Toronto.

Jaimungal will continue to build his podcast, “Theories of Everything,” which fuses rigorous scientific analysis with profound philosophical inquiry. He will also advance AI, consciousness, and theoretical physics research by expanding “Theories of Everything” into an interdisciplinary research platform and educational hub. This platform will foster collaboration within and between disciplines by producing specialized video series, initiating collaborative research projects with experts and institutions, and hosting events and conferences.

Jaimungal, who holds a degree in mathematical physics from the University of Toronto, launched “Theories of Everything” in 2020. The podcast explores the frontiers of conventional knowledge by engaging with theories across quantum mechanics, consciousness, artificial intelligence, and cosmology. It demystifies complex scientific ideas while maintaining a high degree of technical rigor. Past guests include Noam Chomsky, Bryan Johnson and Scott Aaronson.

OSV’s founder and CEO, Jim O’Shaughnessy, commented, “Curt’s deep domain knowledge, ability to simplify complex topics, relentless work ethic, and high standards together mean he is exactly the kind of creator we believe will thrive in our changing media landscape. We’re delighted to be able to support him in taking “Theories of Everything” to the next level.”

Jaimungal said; “Being granted this Fellowship is both a valued recognition of where I’ve got to and a powerful motivator to keep on building. It will allow me to explore the mysterious realms of physics and philosophy more deeply, aiming to enhance our shared understanding of the universe. It’s an honor and a privilege, and I won’t squander the opportunity.”

About the Fellowship Program

OSV launched the O’Shaughnessy Fellowships in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors and experts to support them in bringing their projects to life. More information about last year’s Fellows is available on OSV’s website.

In 2024, OSV will award ten $100,000 Fellowships. Applicants for the Fellowships will also be considered for its sister program, the O’Shaughnessy Grants. Under this program, OSV will make twenty additional $10,000 grants to promising creators, who will also be provided with access to OSV’s network.

OSV is accepting late applications for the 2024 Fellowships until May 31, 2024. Creators interested in applying can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas.

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc.

Media Contact:
Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected] 

SOURCE O’Shaughnessy Ventures

LONDON, May 24, 2024 — Titans of Tech:  Unrivalled era of A.I. led innovation for European Tech –  No more excuses.
GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.

Key takeaways from our report include:

• The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.
• The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.
• Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.
• Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.
• Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.
• Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.

Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.

Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels.

With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”

Expert interviews
What does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.

Download full report: www.gpbullhound.com/articles/titans-of-tech-2024

Enquiries
For enquiries, please contact: [email protected]

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.

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