Adina Tecklu and Hootan Rashidifard. Photo: Cannaan Partners

Venture capital firm Canaan Partners is carving out $20 million from its main fund for seed investments in consumer tech startups.

Bottom line: Canaan believes millennials (and the generation after it) will both start the next influential consumer tech companies and be their main customers. So it put Adina Tecklu and Hootan Rashidifard—two of its twenty-something investors—at the helm.

  • "Gen Z" will make up 25% of the U.S. population within the next three years, Canaan says.
  • Millennials have the largest purchasing power of any generation and are becoming heads of households.
  • Both generations are digitally native, and 48% of Gen Z identifies as non-white.

More: The average "Canaan Beta" investment will be $250,000, and focused on areas like social media, gaming, new interfaces like voice-activation, AR/VR, and digital currency.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 32,471,119 — Total deaths: 987,593 — Total recoveries: 22,374,557Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 7,032,524 — Total deaths: 203,657 — Total recoveries: 2,727,335 — Total tests: 99,483,712Map.
  3. States: "We’re not closing anything going forward": Florida fully lifts COVID restaurant restrictions — Virginia Gov. Ralph Northam tests positive for coronavirus.
  4. Health: Young people accounted for 20% of cases this summer.
  5. Business: Coronavirus has made airports happier places The expiration of Pandemic Unemployment Assistance looms.
  6. Education: Where bringing students back to school is most risky.
Mike Allen, author of AM
4 hours ago - Politics & Policy

Biden pushes unity message in new TV wave

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What he's saying: The ad — which began Friday night, and is a follow-up to "Fresh Start" — draws from a Biden speech earlier in the week in Manitowoc, Wisconsin:

Trump prepares to announce Amy Coney Barrett as Supreme Court replacement

Judge Amy Coney Barrett. Photo: Matt Cashore/Notre Dame University via Reuters

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Why it matters: Barrett would push the already conservative court further and harder to the right, for decades to come, on the most important issues in American politics — from abortion to the limits of presidential power. If confirmed, she would give conservatives a 6-3 majority on the high court.

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