By Evan Vitale
As we are winding down the end of the second quarter, let’s see what stories are making headlines in the world of venture capital.
The Wall Street Journal has published a piece on Russia’s venture capital funds looking abroad.
Russian venture-capital funds are shifting their gaze to outside the country, contributing to an exodus of capital amid an economic crisis and Western sanctions.
A robust startup scene emerged in Russia after the collapse of the Soviet Union, and venture-capital funds followed closely behind. New companies sprung from the scientific and academic communities Russia nourished during the Cold War, including Doroga TV, a vehicle-tracking GPS service, and Kuznech, an app that allows customers to shop by browsing online images. But funding is now looking for better opportunities outside Russia.
The full story can be found here: http://on.wsj.com/28MmrUW
According to the Atlanta Business Chronical, TTV Capital has invested in FinTech startup. TTV Capital led Apruve Inc.’s Series A round of funding that raised $2.2 million in capital.
The company will use the investment to hire employees in sales, marketing and software development. Apruve’s employee count is approaching 10, a company spokeswoman said.
Businesses use Apruve’s technology to manage accounts receivable and provide customers with revolving lines of credit.
Palo Alto, Calif.-based venture capital firm Allegis Capital also participated in Apruve’s round of funding.
The full story is here: http://bit.ly/28Sh1uj
Fortune.com and many other publications have learned that venture capital icon David Morgenthaler, who was largely responsible for the modern venture capital marker, has died.
Morgenthaler passed away at the age of 96 years-old. At the time, he was a patient of the Cleveland Clinic, an organization where he served on the board and finance committees for decades.
More can be found at: http://for.tn/28QKaWJ
So has the first half of 2016 been a good year for venture capital? What’s in store for the next six months, especially with the election looming in November?
