By Evan Vitale
The election is (finally) over, but what’s been the venture capital reaction to Donald Trump’s victory?
According to CNBC, Silicon Valley venture capitals say Trump’s victory is “like a funeral.”
The tech community, many who were attending the Web Summit in Lisbon, Portugal, were shocked and the conference mood had changed drastically from Tuesday to Wednesday.
“It’s like a funeral,” one attendee told CNBC, who wished to remain anonymous because they didn’t want to give a political view.
It was a shock result, particularly for the tech community who overwhelmingly backed Democratic candidate Hillary Clinton. A poll carried out by Web Summit of 224 venture capitalists found that 94 percent would vote for Clinton while 89 percent thought that she would win.
“It’s a sh-t show, it’s a train wreck,” a venture capitalist, who also wished not to be named because they didn’t want to be seen giving a political opinion, told CNBC.
Read the full story here: http://cnb.cx/2fUhAXm
Meanwhile, according to the Financial Times, The EU plans to recruit a private sector manager to set up and run a €1.6bn venture capital fund aimed at nurturing innovative technology start-ups and keeping them in Europe. http://on.ft.com/2eTAGb7
Forbes has a nice piece on “Why Raising Venture Capital Is A Waste Of Your Time” at http://bit.ly/2fnJ2Zm
The St. Louis Business Journal is reporting that corporate venture capital has jumped $2 billion with more than 50 corporate venture capital firms globally making their first investment in the first half of 2016. Read the story here: http://bit.ly/2fzxoh3
According to FierceCable, James and Kristin Dolan have launched a venture capital fund. Dolan Family Ventures will focus on investments in data, analytics and technology-related business. You can read the full story here: http://bit.ly/2fEPaNH