Sources: David Sacks' Craft Ventures is targeting around $1B for a new fund, its first since Sacks stepped down as the White House AI and crypto czar
THE SO WHAT
A $1B Craft raise post–White House stint is a bet that Sacks’ AI/crypto policy exposure converts into proprietary deal flow. If you’re building in those rails, assume more capital and more politically fluent board members competing for your round.
READ THE SOURCE
MORE FROM THE WIRE
Former OpenAI executive Kevin Weil has sought a valuation of at least $750 million for his new AI science startup
A pre-launch AI science startup targeting a $750M valuation shows how much capital believes “AI for R&D” can become a new horizontal layer, not just a feature. If you’re in pharma, materials, or hard tech, assume your competitors will get access to similar AI tooling—your edge will be proprietary data, lab throughput, and integration into existing pipelines.
Startups & VentureTrump Family Crypto Deal Ends In Investor Rout
A fintech that ran to a $1B valuation on the back of a branded crypto deal and then sold its core business for ~$12M is a harsh reminder that narrative isn’t a balance sheet. If your strategy leans on celebrity or political partnerships, underwrite the underlying business as if the hype vanished tomorrow.
Startups & VentureRoyal Bank of Canada and Bank of Montreal agree to sell payments company Moneris to PE firm Francisco Partners for CA$2B in cash, splitting proceeds equally
RBC and BMO selling Moneris for C$2B to Francisco Partners is another data point in banks exiting owned payments infra in favor of partnerships. If you’re a merchant or fintech on Moneris rails, expect product and pricing changes as PE looks for efficiency and growth levers.
Startups & VentureWhat’s Scaleup Europe, the $5.7B fund that just backed satellite company ICEYE?
A €5.7B-scale public–private “Scaleup Europe” vehicle backing ICEYE first is Europe admitting that late-stage deeptech capital has to be manufactured, not hoped for. If you’re a European space or dual-use founder, this is a new potential lead investor—but also a new layer of political and strategic expectations.