TLDR from Z

Smaller edition today given the holiday tomorrow! Re: the subject line, there’s more detail below but the TLDR is absurd.

1. In 2023, companies founded solely by women garnered just 2.1% of venture capital, while women started 50% of all new businesses, up from 29% in 2019 (Gusto).

2. A lot of discourse on Twitter re: VCs on vacation.

I know of some pretty competitive seed and Series A deals that are going through investment committee meetings and diligence etc. Seems like the hungry VCs are still working! Contrary to popular belief.

VC News

• PitchBook’s unicorn tracker contains all new unicorn companies formed since the beginning of 2016. Click the above image or here to explore the unicorn trends.

• VC-Backed IPOs Had a Tepid First Half, Squeezing Venture Capital More. The stock market’s strong performance this year hasn’t rubbed off on venture-backed debuts

• Venture capital's money model is shifting

• Can $1 Billion Turn Startup Scale AI Into an AI Data Juggernaut? The data-management company’s field chief technology officer, Vijay Karunamurthy, details its AI strategy in a world where data is becoming king

• Benchmark Is Raising A New $425 Million Fund For The AI Startup Era

• Apple Poised to Get OpenAI Board Observer Role as Part of AI Pact.

  • Apple’s observer position would match that of Microsoft.

  • Phil Schiller, Apple’s former marketing chief, chosen for role

• Runway, an AI Video Startup, in Talks With General Atlantic for $4 Billion–Valuation Fundraise

• Fame, Feud and Fortune: Inside Billionaire Alexandr Wang’s Relentless Rise in Silicon Valley

• Venture capital funding overall has surged in recent years, but the numbers haven't leapt forward for female founders at the same pace. In 2023, companies founded solely by women garnered just 2.1% of the total capital invested in venture-backed startups in the US.

• On the positive side of things, female entrepreneurs are creating businesses at record rates. New data from Gusto shows that women started half of all new businesses in 2023. This is compared to a mere 29% in 2019.

• Robinhood Acquires AI-Driven Investment-Advice Platform Pluto

• News outlets are accusing Perplexity of plagiarism and unethical web scraping

• UK’s Revolut teases IPO plans, but will it pick London?

• A former OpenAI researcher sees a clear path to AGI this decade. Bill Gates disagrees

• AI Startups Inject Some Life Into VC Dealmaking in the US. Quarterly data from PitchBook showed the highest startup deal value in two years.

• YouTube fuels the AI machine—including your family reunion. As far as AI is concerned, your family reunion video may be just as important as those uploaded by influencer giant Mr. Beast or CNN.

• Why more celebrity-founded brands are pivoting

• What happened to the artificial-intelligence revolution? So far the technology has had almost no economic impact from The Economics

• In a Surprise, OpenAI Is Selling More of Its AI Models Than Microsoft Is

• Andrew Ng plans to raise $120M for next AI Fund

• As Spain gets its latest VC fund, Southern Europe appears to be on a roll

• These are the nine AI startups that VCs wish founders would pitch them

• ByteDance Doubles Down On TikTok Shop, Despite Threat Of A U.S. Ban

• Meta’s making a change to the way it labels AI on its apps. Content made or edited with AI tools will receive an ‘AI info’ label.

• Internet Browsers Are Getting a Makeover for the Workplace. Commercial web browsers weren’t built for business. New enterprise browsers aim to provide the security controls and user experience needed for work.

• Top-performing VC Union Square Ventures targets $275M fund

• What next for Amazon as it turns 30?

• Anthemis published their Female Founders in Fintech: Global Fundraise Deep Dive

• How Rak Garg became Bain Capital Ventures' youngest partner at just 27 years old in less than 3 years

• Billionaire Steve Cohen’s Point72 Ventures Lays Off Fintech Team In Pivot Towards AI

• Steve Ballmer, who was once Bill Gates’ assistant, is now richer than his onetime mentor

Fundraising News

• Kleiner Perkins announces $2 billion in fresh capital, showing that established firms can still raise large sums

• Sequoia, Meritech Invest in AI Sales and Marketing Startup Clay: company was valued at $500 million in its latest funding round.

• Will AI get an A+ in edtech? MagicSchool raises $15M to find out

• Synthflow picks up $7.4M for no-code voice assistance for SMEs

• Husband-and-wife former Olympians target $50M for new fund to invest in influencer-led consumer brands

• Hebbia raises nearly $100M Series B for AI-powered document search led by Andreessen Horowitz

• Form Health, a startup that provides virtual obesity care, has raised $38 million in new venture capital with a goal of emerging as a long-term leader in the sector as use of weight-loss medications grows.

• Claure Bets on AI Startup K Health at $900 Million Valuation

• Austin-based Ironspring Ventures raised $100M to invest in the industrial revolution

• Synthpop seeds $5.6M for AI admin tasks

• VC firm, The General Partnership, focused on "sweat equity" raises $300 million for second fund

• Industry Ventures raises a $900M fund for investing in small, early-stage VCs and their breakout startups

• Dust grabs another $16M for its enterprise AI assistants connected to internal data

• Identity.vc is bringing capital and community to Europe’s LGBTQ+ venture ecosystem

• Beauty tech startup BoldHue raises capital to ship its ‘Keurig for makeup’

• Japan’s SmartHR raises $140M Series E as strong demand for HR tech boosts its ARR to $100M

Consumer-Specific News - subscribe to my other newsletter Fan Behavior.

• What brands should know before hiring a digital celebrity: AI ambassadors are making life easier for real-life talent and, potentially, the brands that want to hire them. But there are plenty of concerns around the lack of regulation for a new concept in marketing.

• Glossier quietly introduced a new logo for its summer collection: soft launching a pop-up brand is like test driving a full scale rebrand.

• Gen-Z beauty incubator Slate Brands introduces fragrance-focused Modern Magic

• Did Cannes Lions Steal VidCon's Thunder?

• 64-year-old Simon Cowell, who doesn’t work Fridays, says he’s ‘not going to bet the house’ on Gen Zers who refuse to take calls over the weekend

• A24’s recent cash infusion is just the latest flash of its Wall Street DNA. Now valued at $3.5 billion, A24 has always been as much the product of savvy business moves as it is an arbiter of auteur-driven cinema.

• Figma pulls AI tool after criticism that it ripped off Apple’s design

• How Fashionphile is using data to scale its resale shops

• The economics of the tennis v pickleball contest: don’t hate the new players—or the new game

• More brands are scoring WNBA partnerships

• How 3 Asian American Women Conquered the C-Suite at OpenTableAsian American women rarely make it to the top in corporate America. Here's how three did and at the same company.

• You can pay to put a virtual house on Snapchat’s map

• Y Combinator cuts communication, finance roles

• Retail media increases by 11% in YoY adoption

• Did “Barbenheimer” bring Gen Z back to AMC? My friends at Claim are publishing incredible data on Gen Z consumer behavior! :)

• Wicked and Gladiator II Will Be 2024’s Answer to Barbenheimer

• The Secret Sauce Behind This $350 Million Japanese Barbecue Sauce? Grandma.

• Naomi Watts’ menopause brand, Stripes Beauty, is acquired by LVMH-backed L Catterton

• Forum Brands Acquires Skincare Brand Ever

• Instagram reels is rivaling TikTok globally and chipping away at key usage metrics, new data shows

Tweets to think about

Investor Feature: Vaneezeh Siddiqui

How and why did you want to become a VC? I was always interested in STEM and (coupled with a strong push from my immigrant parents) studied statistics and computer science. While in school, I learned I didn’t want to be a developer but I did want to sit at the intersection of tech and business. I knew there was value in being able to translate between the two, and that there was a need for people with diverse lived experiences to sit at the capital side of the table. I dabbled in data science and product but discovered VC after joining a fund that invested in Canadian student founders. Fast forward a few years, I am now at Thomson Reuters Ventures, an early-stage enterprise tech fund based in NYC. I love that venture shows you what the world could look like in 10 years, rewards curiosity and risk, and is competitive in nature.

What’s your investment philosophy in 5 words? Interesting people solving real problems.

Strangest place you’ve met a founder? At a dance class!

#1 tip for folks trying to break into VC & new VCs? Practice your oral and written communication skills. Set aside 30 mins a day to read, with the goal of enriching your vocabulary and developing your voice. I find myself going back to skills I learned in my debate days around framing narratives, responding to arguments, and condensing information. I have friends who are taking standup comedy classes just to get comfortable with storytelling. It’ll improve how you pitch yourself, pitch companies to partners, and write your memos.

Investor you admire most? Deena Shakir, partner at Lux Capital. She has an incredible journey across journalism, policy, impact, and product before landing in VC. I admire how true she stays to her identity and values as she builds her career.

1 GP Allowed

Coming in 1 week! 1 GP Allowed will be the monthly premium version of No GPs Allowed. This is a deeply intentional, focused interview.

Break into VC: Jobs

Full-time Investor

Stripes is hiring a Consumer Investor. Apply here!

Alumni Ventures is hiring for multiple investing roles. Apply here!

Cowboy Ventures is hiring an Investment Associate. Apply here!

Compound is hiring an investor. Apply here!

Unshackled Ventures is hiring an Investment Analyst. Apply here!

Commerce Ventures is hiring a Senior Associate. Apply here!

Flourish Ventures is hiring an investment associate. Apply here!

Pear VC is hiring an Investment Associate - AI and Enterprise. Apply here!

Entrepreneur First is hiring multiple Analysts/Associates. Apply here!

Full-time Platform

Techstars is hiring a Program Associate. Apply here!

Cowboy Ventures is hiring a Chief of Staff. Apply here!

Internship

Cerberus Capital Management is hiring for a 6-month fellowship. Apply here!  

Necessary Ventures is hiring an intern. Apply here!  

Expanding Capital is hiring an intern. Apply here!  

VC $$$

You can drop your salary details here (anonymously) to be shared in future editions. VC compensation is an exceptionally opaque part of the “breaking into VC” process. This section aims to act as: a reference for you as you negotiate your salary and to showcase just how different compensation is across fund size, titles, and more.

• Title: Vice President

• Fund Size: $50M-$100M

• Base Salary: $200,000

• Cash Bonus: $40,000

• Carry: ~4%

Events (for VCs)

post nytw later in june!

• The Future of Consumer Social: Panel

  • for who: consumer social nerds

  • hosted by: Zehra 

monday - wednesday 7/15 to 7/17

• Fortune Brainstorm Tech 2024 Conference

  • for who: founders, investors, operators

  • hosted by: Fortune 

  • I’ll be speaking on a panel at this conference! It’s in Park City in July :)

wednesday 7/17

• Inside Summit

  • hosted by: Madison & Claudia (The Room Podcast)

Wanted to dedicate this edition of The Z List’s friend’s section to the Inside Summit, happening on July 17th in NYC. As a part of The Room Podcast community, I’m super excited to extend 20% off tickets for a limited time (use code: ZEHRA20) Inside Summit is going to be the tech event of the summer - and very different from any other conference you've been to. Here's some of what you will experience at Inside Summit: 

• Founder & funder matching for those fundraising or looking to build their network

• Founder-to-founder buddy matching for founders to make new friends and mentors (make founder friends that are a stage ahead of you)

• Vendor & customer warm introductions

• Small-group conversations & workshops oriented around tactical topics that aren’t happening anywhere else

• Free headshots

• Goodie-bag full of products from some of the hottest DTC brands

• Consumer brand “market” access

• After-party with open bar & bites

friday 7/19

• Gen Z VC Summit

  • hosted by: Meagan (Gen Z VCs)

  • I’m speaking at the summit!

Resources: Discounts + Tools

• Need an EA but can’t afford one? Howie is the fastest and most responsive scheduling assistant on earth. You can email him anytime to set up meetings and coordinate your calendar.

• Wanna start a newsletter? I use Beehiiv for all three of my newsletters. Cannot recommend enough.

• Wanna sell digital products that actually convert? I’ve been working with Michael and Faisal for a couple of months now. Pillar is an all-in-one creator store that actually converts. You can offer lead magnets, sell digital products + appointments w/ Apple Pay checkout, and even boost deal flow with their brand deal funnel. It’s like LinkTree, Calendly, Kajabi, and Clickfunnels in one. Click to get 1 month free + your 1st lead magnet made for you in Canva by their team!