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.

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Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Democratic presidential candidate and former Vice President Joe Biden a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

Why it matters: It's a boost for Biden, who's widely tipped to be endorsed by House Majority Whip Jim Clyburn (D-S.C.) on Wednesday, ahead of this week's South Carolina primary.

By the numbers: With almost 88% of precincts reporting, Biden has 20.9% of the Nevada votes and Buttigieg has 13.6%.

Flashback: Bernie Sanders wins Nevada caucuses

Editor's note: This is a developing news story. Please check back for updates.

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Exclusive: Trump's "Deep State" hit list

Illustration: Aïda Amer/Axios. Photos: WPA Pool/Getty Pool, Drew Angerer/Getty Staff

The Trump White House and its allies, over the past 18 months, assembled detailed lists of disloyal government officials to oust — and trusted pro-Trump people to replace them — according to more than a dozen sources familiar with the effort who spoke to Axios.

Driving the news: By the time President Trump instructed his 29-year-old former body man and new head of presidential personnel to rid his government of anti-Trump officials, he'd gathered reams of material to support his suspicions.