I'm excited to announce that @AmcaInc has raised a $300M Series B at a >$1B valuation, led by @CaffeinatedCap with major support from @LightspeedVP, @a16z, @Lux_Capital, and others.
We're on a mission to reconstitute a supply chain that has too often put profit over country.
Varda believes humanity's first space-made product will be a pharmaceutical.
Today we announced a research collaboration with United Therapeutics. Together we will explore the use of microgravity to develop improved formulations of medicines for rare pulmonary disease aboard Varda’s orbital platform. Small molecule drugs will fly to low Earth orbit, form novel crystals in microgravity, and come home via our W-series reentry capsule.
Through this collaboration we will pioneer pharmaceutical processing in space, to benefit people on Earth.
Just in - @ereborbank posted their 1st call report. In 7 weeks since opening, they've already hit $1.1 billion in deposits.
unprecedented growth for a de novo (or fintech)
For comparison
- Grasshopper Bank (also a tech-focused NYC de novo) took 7 years to reach the same number, and only got there via acquisition
- Square Financial Services, even with Block's enormous merchant base, sits at $495M after 5 years.
- Mercury took 4 years
- Chime took 6
At $1 billion this makes them ~1,000th largest bank in America (out of ~4,500).
If they want to be a top 100 bank, thats ~$20 billion of deposits. 5% of the way there in 7 weeks.
Next up...what do they do with those deposits? Will be watching how loans ramp from here!
JAY HUNTER APPOINTED CEO OF SPRINTER TO LEAD K2O LAUNCH
Jay Hunter has been named CEO of Sprinter, founded by Kylie Jenner, to lead the brand's expansion into functional beauty and hydration.
A veteran of the CPG industry, Hunter brings over a decade of experience in scaling consumer brands through omnichannel marketing and data driven operations.
He previously spent over five years at MaryRuth’s, most recently serving as Chief Revenue Officer. His career also includes leadership roles in marketplace management and e-commerce.
In his new role at Sprinter, Hunter will oversee the launch of k2o as the company expands into the wellness category with its debut Advanced Skin Hydration Mix.
The formula combines electrolytes with hyaluronic acid and Verisol bioactive collagen peptides to support skin health from within.
The brand is currently available via TikTok Shop and its official website, with an international rollout planned for mid April.
The venture is backed by the Night venture studio, K5 Global, and House Capital.
We see our home planet as a whole, lit up in spectacular blues and browns. A green aurora even lights up the atmosphere. That's us, together, watching as our astronauts make their journey to the Moon.
Khloud, the fast-growing snack brand founded by Khloé Kardashian, just announced the launch of Khloud Protein Chips.
Khloud Protein Chips deliver 7g of protein per serving and are made with real ingredients like non-GMO masa and avocado oil. The new line will debut exclusively at Target on April 8th.
Three flavors are available:
🌶️ Sweet Heat
🧀 Nacho
👀 Buffalo
A CEO from one of our portfolio companies shared this with their team. I’m re-sharing it with their permission, because it resonated and reflects what all founders and CEOs should be communicating.
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We are living through a period of compounding change. And in moments like this, the biggest risk is no longer making the wrong decision. It is moving too slowly while the world moves around you.
There are two paths. We can play defense:
- Protect what we have
- Optimize what works
- Wait for clarity
It feels safe. It isn’t.
Or we can play offense:
- Learn faster than the environment changes
- Use new tools to solve old problems in better ways
- And create entirely new strategies and businesses
That’s where the opportunity is.
Challenge yourself to do things faster and better than you have ever attempted. Stay uncomfortable. Stay on the front foot.