Oct 18, 2018

First Round Capital raising $220 million for new fund

Dan Primack, author of Pro Rata

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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Dave Lawler
11 mins ago - World

Massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, and damaged buildings as far as several miles away.

Driving the news: The cause of the explosion is unknown, as are details of potential deaths and injuries. It comes as Lebanon grapples with a crippling financial crisis and the ongoing effects of the coronavirus pandemic.

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Axios
Updated 32 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 18,340,451 — Total deaths: 695,318 — Total recoveries — 10,946,462 — Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 4,727,879 — Total deaths: 155,814 — Total recoveries: 1,513,446 — Total tests: 57,543,852 — Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response.
  4. Public health: 40% of Americans continue to put off medical care.
  5. Politics: Trump tells "Axios on HBO" that pandemic is "under control," despite surges in infections and uptick in deaths.
  6. Business: Low-income households are struggling to pay energy bills — Construction spending falls for 4th straight month.
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Dan Primack
2 hours ago - Economy & Business

Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

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