Charles Koch. Photo: Patrick T. Fallon / Getty Images

Koch Industries has launched an early-stage venture capital arm that will be led by Chase Koch, the son of company chairman and CEO Charles Koch.

Bottom line: Charles and David Koch might differ strongly with most of Silicon Valley on politics, but they believe there can be alignment when it comes to disruptive technologies.

  • It's called Koch Disruptive Technologies, and will be separate from the company's private equity group (Koch Equity Development), which is supporting Meredith Corp.'s takeover of magazine publisher Time Inc.
  • No word on dollar allocations, but a Koch source calls it a "significant focus" for the company, as evidenced by putting the boss' son in charge.
  • Also on the team will be new hire Jason Illian, founder and ex-CEO of a Dallas-based startup called BookShout.
  • Its first deal was announced this morning: Leading a $150 million Series E round for INSIGHTEC, an Israel-based developer of MRI-guided ultrasound devices for surgery.
  • Per an internal email from Koch CFO Steve Feilmeier: "We all know that the rate of change in the marketplace is accelerating. This is a threat to every business we operate; however, it also creates opportunity if we identify and invest in those entrepreneurs and technologies that can improve our businesses or potentially create a new business platform."
  • Go deeper: Politico's Nancy Scola recently wrote on the unexpected partnership between Koch and Silicon Valley.

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Deadly Hurricane Zeta slams U.S. Gulf Coast

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta has killed at least one person after a 55-year-old man was "electrocuted by a downed power line" in Louisiana as the storm caused widespread power outages Wednesday night, per AP.

What's happening: Zeta made landfall south of New Orleans as a Category 2 hurricane earlier Wednesday before weakening to Category 1. But it was still "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain" late Wednesday, per the National Hurricane Center.

Updated 35 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
1 hour ago - Health

Fauci says U.S. may not return to normal until 2022

Director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci, testifies during a September Senate hearing on COVID-19 in Washington, D.C. Photo: Graeme Jennings/Pool/AFP via Getty Images

NIAID director Anthony Fauci told the Journal of the American Medical Association on Wednesday he doesn't expect a COVID-19 vaccine to be ready until January 2021 or later.

What he's saying: Fauci said during the interview that the U.S. was in a "bad position" after failing to keep case numbers down post-summer. "We should have been way down in baseline and daily cases and we’re not," he said.