Global Venture Funding Dipped $10 Billion in February

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Global Venture Funding Dipped $10 Billion in February

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Global venture capital funding showed signs of a slowdown in February, with startup investors pouring $10 billion less into companies than they did in January, according to Crunchbase data.


VC investors globally cut $52 billion in checks last month, down 16% from $62 billion in January, per Crunchbase. While the $52 billion figure still represents a 24% year-on-year increase in startup funding compared to February 2021 ($42 billion), the monthly decline indicates that investors have grown increasingly cautious amid headwinds like inflation, stock market turmoil and the impact of Russia’s invasion of Ukraine.

The pullback is also striking considering the historic levels of VC funding seen recently. As Crunchbase noted, 2021 saw new monthly venture funding records set on four separate occasions: in January, March, June and November. The data platform added that while venture funding typically dips due to cutbacks in late-stage and growth funding, this time it also saw a 17% monthly dip in early-stage funding, as well.

Still, there remains ample interest and activity among growth investors, in particular. Crunchbase cited investment giants like Tiger Global, Insight Partners and SoftBank as having led or co-led more funding rounds this February than they did in January, despite public tech stocks taking a battering. Tiger Global has also shown a robust appetite for early-stage companies as well—with the firm’s partners having reportedly committed $1 billion dollars of their own cash to invest in seed-stage funds.

That isn’t the case for all investors, however, with major investors like Sequoia Capital, Temasek, Fidelity and Goldman Sachs all leading fewer large ($100 million-plus) rounds in February than usual, according to Crunchbase.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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AmazeVR Wants You To Attend K-Pop Concerts Virtually

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

AmazeVR Wants You To Attend K-Pop Concerts Virtually
Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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