Exclusive : Veteran VCs Trae Vassallo and Neil Sequeira attract $151 million to their new firm, Defy PartnersThey’re back. After staying heads down for the past year, Trae Vassallo and Neil Sequeira, two longtime venture capitalists whose individual brands are well-known to Bay Area startup founders, are finally taking the wraps off their new venture firm, Defy Partners. As part of the big reveal, they say they’ve closed their debut fund with $151 million in capital commitments, including from endowments, family offices, foundations and non-profits. They’re also sharing the firm’s overarching thesis: that the best place to invest right now is in Series A deals. [ Tech Crunch ] Dyson Sues Ex-CEO for Sharing Secrets on Electric CarDyson Ltd. is suing former Chief Executive Officer Max Conze for allegedly revealing confidential information, including on the company’s plan to expand into the electric car market, according to a person familiar with the situation. Conze is being sued by the U.K. company over alleged contract breaches when he left the vacuum cleaner maker in October. Conze allegedly shared information regarding the electric car among other ongoing projects, according to the person, who asked not to be identified because the allegations haven’t been detailed in the court filings. A Dyson spokesman confirmed the lawsuit. [ Bloomberg ] Steve Jurvetson defends himself: ‘No such allegations are true’High-profile investor Steve Jurvetson vigorously defended himself a day after he left his namesake venture capital firm, asserting that his departure was due to a cratering of his relationship with his partners and not because of an ongoing investigation into sexual harassment. “I left DFJ because of interpersonal dynamics with my partners,” he wrote. “It’s incredibly sad to see how things broke down, and the acrimony that arose between us.” Jurvetson claimed his departure from DFJ was unrelated to the many allegations that have been leveled against him, including conduct issues. The 390-word Facebook post served as his most extensive public rebuttal to the variety of rumors swirling around Silicon Valley in recent weeks. [ Recode ] WeWork's cofounder on the company's $20 billion valuation: 'Who gives a s---?'
Now Pass the Mic to Tatum O’NealThe actress Tatum O’Neal was taping her new podcast, “Tatum, Verbatim,” at a studio the other day and arguing with her producer, Brian Howie. Mr. Howie wanted Ms. O’Neal to project the logo of her podcast — a black and white photo of herself with the words “Tatum, Verbatim” imposed over it — on a large flat-screen television sandwiched between black leather sofas where she and her daughter, Emily McEnroe (her father is John McEnroe, the tennis player), were sitting. “Why would I want a big picture of myself next to me?” Ms. O’Neal said. Mr. Howie pressed on, as producers are apt to do. You should want a picture of yourself there, he told her. I have a picture of my logo flashing next to me during my podcast, he insisted. [ NY Times ] SoftBank Plans Up to $25 Billion in Saudi InvestmentsSoftBank Group Corp. plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter. SoftBank aims to deploy up to $15 billion in a new city called Neom that Crown Prince Mohammed bin Salman plans to build on the Red Sea coast, the people said, asking not to be identified because the information is private. The Japanese company’s Vision Fund also plans investments of as much as $10 billion in state-controlled Saudi Electricity Co. as part of efforts to diversify the utility into renewables and solar energy, the people said. SoftBank also will have some of its portfolio companies open offices in Neom, they said. [ Bloomberg ] Where does Silicon Valley's bro culture start? VCThis week, venture capitalist Steve Jurvetson of Draper Fisher Jurvetson, left that firmafter allegations of inappropriate behavior and an internal investigation. The company said he left by mutual agreement; he has publicly denied any allegations against him and said on Twitter that he’ll pursue legal action against his accusers. Several other high-profile VCs have left or been fired in the last year, but there have been questions about the industry for much longer. And as the tech industry grapples with its string of scandals, its near-legendary "bro culture," and questions about influence, empathy, and responsibility, let’s look at the seeds from which this ecosystem grew. [ Market Place ] Chinese maker of Star Wars robot close to raising US$400m in largest funding roundUBTech Robotics, the Chinese maker of Star Wars Stormtrooper robots that can respond to voice commands and recognise faces, is close to raising US$400 million in a funding round led by Tencent, according to people familiar with the matter. If completed, the series C funding round could value the Shenzhen-based company at about US$4 billion, according to one of the people, who asked not to be identified as the information is private. The funding is still being finalised and details could still change. It would also be among the biggest rounds of fundraising by a consumer robotics firm, underscoring investor interest in backing companies that are marrying hardware with advanced technologies like artificial intelligence, voice and facial recognition. [ SCMP ] Two compliance companies merge to build a $100M firmVenture Capitalist Challenges His Peers to Not Be 'F**king Scumbags'French VC Aster raises €240 million to invest in energy and mobilityProcter & Gamble just bought this venture-backed deodorant startup for $100 million cashE9: "Angel" podcast: Ask An Angel! Picking startups, evaluating founders, syndicates, deal termsIs billionaire VC Peter Thiel trying to break up Google?With $70M from Alphabet, UnitedMasters replaces record labelsHometown Heroes: Where And Why Venture Capitalists Invest Close To HomeUSPL raises Rs100 crore, crosses $100 million valuationUS VCs Steer Clear Of Russian Startups |