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Photo Illustration: Sarah Grillo/Axios. Photo: Jemal Countess/Getty Images

Chelsea Clinton is in the very early stages of forming a venture capital firm, Axios has learned from multiple sources.

What we’re hearing: The working name is Metrodora Ventures, after the author of the first medical text known to have been written by a woman (around 2,000 years ago in Greece).

Behind the scenes: Clinton has been kicking around the idea for several months, and has committed to investing in at least two startups.

  • One of them is a pregnancy support app called Poppy Seed Health.
  • Clinton is making the early commitments personally, and would roll them into the fund if it gets raised.
  • Also involved is Caroline Kassie, currently a partner with Blockchange Ventures, who plans to join Metrodora in the future.

To reiterate, the best way to describe Metrodora right now is embryonic.

  • Clinton is said to have not decided yet if she wants this to be her next full-time career move, but there is at least a draft pitch deck floating around and "Metrodora Ventures" was registered in New York back in April.
  • Plus, a Twitter account was just created which describes Metrodora as a "values conscious venture capital firm focused on health and learning businesses."
  • Clinton once worked at hedge fund Avenue Capital, and currently sits on the boards of Expedia Group, IAC/Interactive Corp., and VC-backed startups Clover Health and Nurx.

Clinton, through a spokesperson, declined comment.

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As 2020 began, Scrum Ventures was already considering a new startup program focusing on tech for cities and the urban environment. Then the spring brought the coronavirus pandemic and a wave of protests following the killing of George Floyd, sealing the deal.

Driving the news: Scrum Ventures, in partnership with former NBA all-star player and investor Baron Davis, is debuting SmartCityX, a program aimed at helping startups connect with potential advisers and business partners.

Justice Department drops insider trading inquiry against Sen. Richard Burr

Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

Netflix tops 200 million global subscribers

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Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.