Financial robo-advisor SigFig raises $40 mln
SigFig, a provider of wealth management technology, disclosed Tuesday that it has raised $40 million in a new round led by asset manager Eaton Vance and joined by new and existing investors. The San Francisco-based company plans to use the money, which includes $33 million in equity and $7 million in credit, to expand partnerships with financial institutions that use its technology.
March Capital closes on $240M for inaugural fund
March Capital Partners, a Santa Monica, Calif.-based technology venture firm, has raised an inaugural fund of $240 million. The firm will invest in both early and late-stage companies, focusing heavily on the infrastructure behind consumer and mobile services. March has already invested more than $100 million in over 15 companies globally, including CarTrade, an India-based online car marketplace, and VeloCloud, a Silicon Valley cloud networking startup.
Snapchat raising money at $20B valuation
The creator of the popular self-deleting messaging app is seeking to raise a fresh round of capital at a $20 billion valuation, according to a TechCrunch article citing sources with knowledge of the deal. Snapchat is reportedly seeking about $200 million. The Southern California company has already raised $1.34 billion and says its app currently attracts more than 100 million users daily.
Newark Venture Partners launches fund and incubator
Newark, New Jersey isn’t known as a venture capital hotspot. But Newark Venture Partners is looking to raise the city’s entrepreneurial profile with a new VC fund and accelerator based there. The firm, founded by Don Katz, CEO of Newark-based Audible, announced Tuesday that it has held a first close of $23 million for a planned $50 million fund focused on seed and Series A companies. The firm has disclosed its first investment, in ergonomic equipment company StrongArm Technologies, and has begun accepting applications for its accelerator.
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