Dec 14, 2017

Koch Industries launches a venture capital group

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.

Go deeper

Axios

Updated 41 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 2 p.m. ET: 19,451,097 — Total deaths: 722,835 — Total recoveries — 11,788,665 — Map.
U.S.: Total confirmed cases as of 2. p.m. ET: 4,968,413 — Total deaths: 161,858 — Total recoveries: 1,623,870 — Total tests: 60,415,558 — Map.
Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective.
Science: Indoor air is the next coronavirus frontline.
Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Go deeper (<1 min. read)

Rashaan Ayesh

1 hour ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.

Go deeper (2 min. read)

Mike Allen

3 hours ago - Politics & Policy

Wolf Blitzer marks 15 years in "The Situation Room"

Wolf Blitzer on the White House beat in 1993, along with NBC's Brian Williams, CBS' Rita Braver and ABC's Brit Hume. Photo: Paul J. Richards/AFP via Getty Images H

Aug. 8, 2005 — "The Situation Room's" debut on CNN wherein the host first said: "I'm Wolf Blitzer and you're in The Situation Room, where news and information from around the world arrive in one place simultaneously!"

The state of play: When the pandemic took off in the U.S. in March, Blitzer started working 7 days a week for 60+ days, until he took a Sunday off. Then he continued 7 days a week until he took a few days off.