Pryce Yebesi, 24, has sold Utopia Labs, his crypto invoicing business, to Coinbase and announced the launch of his new startup, Open Ledger. Open Ledger implants automated accounting software into products that small businesses currently use and has already raised $3 million in a round led by Kindred Ventures and Blank Ventures, as first reported by TechCrunch. Why did Yebesi launch Open Ledger? Pryce Yebesi started thinking about Open Ledger while running Utopia Labs as the product and operations lead. After noticing that the businesses he operated with still used
Prequel, a platform tackling the challenges of application reliability through community-driven problem detection, announced it has raised $3.3 million in seed funding. The funding round was led by Work-Bench, with participation from Runtime Ventures, Operator Partners, and notable tech founders such as Shay Banon (Elastic), Jon Oberheide (Duo Security), Monica Sarbu (Xata), and Andrew Morris (GreyNoise). A Fresh Approach to Reliability Engineering Engineering teams face increasing challenges to deliver reliable services in complex software environments. From open-source dependencies to service misconfigurations, the issues can disrupt releases and inflate cloud costs
Google has joined a $90 million equity investment round in Cassava Technologies, signaling a significant step in supporting Africa’s digital infrastructure. The funding round also includes contributions from the US International Development Finance Corporation (DFC) and Finnish development firm Finnfund, among others. Bolstering Africa’s Connectivity This investment aligns with Google’s broader efforts in Africa, including the Equiano subsea cable and the new Umoja fiber-optic cable connecting Africa and Australia. Cassava has already established itself as a leader in Africa’s tech ecosystem, offering solutions in data centers, cloud services, and renewable
Penny Jar Capital, the early-stage investment firm backed by basketball star Stephen Curry, has filed paperwork with the SEC to raise a second fund, as first reported by TechCrunch. The filing for Fund II doesn’t list a specific target amount and also submitted a separate filing for a related entity called Fund II Collective. Both filings were made in October, signaling Penny Jar’s commitment to expanding its portfolio. As Penny Jar’s anchor investor and special advisor, Curry helps the firm source investment opportunities and works behind-the-scenes to drive impact for the portfolio
Marcy Venture Partners, co-founded by Jay-Z, has merged with Pendulum Holdings’ investment arm, Pendulum Opportunities, to establish a new firm: MarcyPen Capital Partners. The merger brings together two prominent Black-owned investment firms, combining resources to oversee a total of $900 million in assets, a spokesperson confirmed to TechCrunch. Two Black-owned investment firms Marcy Venture Partners was founded in 2018 by Jay-Z, Jay Brown (Roc Nation co-founder), and venture capitalist Larry Marcus. Known for backing brands like Rihanna’s Savage x Fenty, Partake Foods, and web3 startup Spatial Labs, the firm has
South Africa’s digital lender Tyme Group has raised $250 million in a Series D funding round, pushing its valuation to $1.5 billion and securing its place as Africa’s ninth unicorn. Nu Holdings Backs Tyme’s Global Ambitions The round was led by Nu Holdings, Latin America’s largest fintech company. Nu Holdings, the parent company of Nubank, invested $150 million for a 10% stake, marking its first major bet outside of Latin America. M&G Catalyst Fund contributed an additional $50 million, while existing investors, including Tencent and Gokongwei Group, also participated. Tyme’s
Arlan Hamilton, the founder of Backstage Capital, has announced her decision to step down as managing partner and take on an advisory role. “After 12 years of being deeply involved in the day-to-day operations, I’ve decided to become a chairperson and advisor,” she said in a statement shared on Instagram. Backstage Capital’s New Chapter As part of this transition, Backstage Capital has formed a strategic partnership with 360 Venture Collective, a woman-founded and led venture firm with an intentionally inclusive investment thesis. Hamilton explained that the collective will acquire a
Zimi, a startup simplifying cross-border commerce for international merchants, has raised $2 million in seed funding led by Fearless Fund, with participation from Y Combinator and other investors. Co-founded by Audrey Djiya and Peter Nsaka, Zimi’s platform tackles challenges like shipping, compliance, and payments to streamline global trade. Tackling Challenges in Global Shipping International merchants often face high shipping costs, long delivery times, and complex regulatory requirements. Zimi addresses these pain points by providing US-based localized fulfillment centers, cutting down costs and delivery times while ensuring seamless handling of taxes,
Former NBA star Metta Sandiford-Artest, formerly known as Metta World Peace, is launching a $100 million venture fund focused on sports technology, digital media, and wellness innovations. The fund, Tru Skye Ventures, is a partnership with ex-Boost Mobile CEO Stephen Stokols and is slated to raise the capital by the first quarter of 2025, according to Sportico. Tru Skye Ventures aims to back early-stage startups, combining capital with expertise in product development, brand partnerships, and growth marketing. Targeting Innovation in Sports and Wellness Tru Skye Ventures has already announced an
1863 Ventures, a nonprofit known for championing underrepresented founders, will close and reemerge as a for-profit entity, New Majority Ventures. Under the continued leadership of founder Melissa Bradley, the new organization aims to better support New Majority founders—women, people of color, LGBTQIA+, and other historically marginalized entrepreneurs. In a statement, Bradley explained that the shift to a for-profit model will enable the organization to deepen its impact through partnerships with accelerators, incubators, and universities, while maintaining its core mission. A Legacy of Impact Since its founding nearly a decade ago,
