Hanging up the checkbook
With new CRV fund, long-time partner Bruce Sachs bows out
Bruce Sachs of Charles River Ventures.
Left unsaid in the announcement of the new $393 million fund raised by Charles River Ventures — oops, they're now called CRV — is that long-time partner Bruce Sachs is bowing out. Sachs still appears on CRV's website, but he confirmed to me this evening that he won't be involved in putting the new money to work. Sachs joined CRV in 1999 after a career in networking, and he was responsible for initially helping CRV put down stakes in California. Read More
Go long
DraftKings acquires DraftStreet, combining major daily fantasy platforms
brady
Boston-based DraftKings has acquired one of its fantasy sports rivals, DraftStreet, in a move that will increase its user base by 50 percent, according to the company. The deal combines the second- and third-largest daily fantasy sports sites, and should create a stronger competitor for industry leader FanDuel. Financial terms were not disclosed. Read More
Smarter stuff
Entrepreneur and Media Lab researcher David Rose talks 'enchanted objects'
EnchantedObjectsPoster-sm
New book out this week from serial entrepreneur and MIT Media Lab researcher David Rose, entitled, "Enchanted Objects: Design, Human Desire, and the Internet of Things." Rose is doing two local events: one at Bolt on Tuesday night, and one on Thursday at the Harvard Book Store. We sat down a few days ago to talk about what exactly an "enchanted object" is. Read More
21st century gold rush
Charles River Ventures, now CRV, announces major shift from the shores of its namesake
catwalker / Shutterstock.com
In a post on Medium today, Charles River Ventures's general partner Jon Auerbach announced a new fund for the early-stage investment firm as well as a couple of changes in the way CRV views itself and its future. Read More
Best Funding Fit?
Crowdfunding vs. VC seed rounds: Which makes sense?
"Hands holding money" via Shutterstock
This is a guest post by Lee Hower of Boston venture capital firm NextView Ventures. The rise of crowdfunding in the last three to five years as a source of capital has been remarkable. Tech startups and potential investors have had greater access to one another than ever before, and beyond the startup world, a broad array of projects have been able to successfully seek capital via crowdfunding. Read More
Department of glass ceilings
Not enough women in venture capital boardrooms: Bonus material
Miguel Montaner for The Boston Globe
Since it sprouted in Boston just after World War II, some things haven’t changed about the venture capital business: the desire for outsized returns, the constant hunt for promising startups, the framed documents celebrating stock offerings and acquisitions, and the long conference tables around which partners gather each Monday to debate which companies deserve money. Read More