Oct 18, 2018

First Round Capital raising $220 million for new fund

Dan Primack

First Round Capital's Josh Kopelman. Photo by Noam Galai/Getty Images.

First Round Capital is raising around $220 million for its seventh venture capital fund, according to SEC filings.

  • No changes to the partnership since First Round raised $175 million for its sixth fund two years ago, save for the previously-announced addition of BirchBox co-founder Hayley Barna.

Why it matters: The bi-costal firm wrote the earliest checks for such companies as Uber and Ring.

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Axios

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all stock deal, the Wall Street Journal reports, with plans to restructure the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.

Go deeper: Six of the biggest U.S. banks have weaknesses in their crisis plans

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Jim VandeHei, Mike Allen

The new not-normal: The Trump state

Photo Illustration: Eniola Odetunde/Axios. Photos: Chris Graythen/Getty Images

Donald Trump changed how to run for president. Next, he changed the Republican Party. Now, he’s changing the presidency and the boundaries of executive power. 

In the past week, Trump has purged internal dissenters, imported loyalists, pardoned political and financial criminals and continued a running commentary on live Justice Department criminal cases — despite an unprecedented public brushback from his attorney general.

Go deeperArrow2 hours ago - Politics & Policy
Mike Allen

Bloomberg's rough debut

Photo: John Locher/AP

Mike Bloomberg was booed during his debut debate as a Democratic presidential candidate — indicative of a rusty outing where the former New York mayor looked unprepared to respond to obvious lines of attack.

Why it matters ... The debate underscored the Bloomberg’s campaign biggest fear: It's hard to hide to his prickly demeanor. Bloomberg had all the time, practice and forewarning money could buy — and still struggled mightily on the public stage. 

Go deeperArrow2 hours ago - Politics & Policy