Aug 24, 2018

Lead Edge Capital closes $520 million growth fund

Illustration: Lazaro Gamio / Axios

Lead Edge Capital, a New York City-based growth equity firm, has closed a $520 million fund. Former NetSuite finance chief Ron Gill is also joining the firm as an operating partner.

Bottom line: Lead Edge may not be as well known as some of its peers, but it's had a number of recent high-profile exits among its portfolio companies, including Spotify, Delivery Hero, Duo Security, ClearScore, and Moat.

1 scooter thing: Earlier this year, the firm invested in scooter rental company Bird, whose founder, Travis VanderZanden, had worked at one of Lead Edge's other investments, Uber.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 1,381,014— Total deaths: 78,269 — Total recoveries: 292,973Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 378,289 — Total deaths: 11,830 — Total recoveries: 20,003Map.
  3. Trump administration latest: Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill
  4. Federal government latest: Senate looks to increase coronavirus relief for small businesses this week — Testing capacity is still lagging far behind demand.
  5. States update: New York death toll surged to its highest one-day total as state predicts a plateau in hospitalizations.
  6. 🎧 Podcast: The race to reopen America
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill

Glenn Fine, acting Pentagon watchdog

President Trump on Monday replaced the Pentagon's acting Inspector General Glenn Fine, who had been selected to chair the panel overseeing the rollout of the $2 trillion coronavirus relief bill passed last month, Politico first reported.

Why it matters: A group of independent federal watchdogs selected Fine to lead the Pandemic Response Accountability Committee, but Fine's removal from his Pentagon job prevents him from being able to serve in that position — since the law only allows sitting inspectors general to fill the role.

Go deeperArrowUpdated 18 mins ago - Politics & Policy

What a post-pandemic space industry might look like

Illustration: Aïda Amer/Axios

The economic downturn caused by the coronavirus pandemic could spell major trouble for dozens of small companies working to break into the space industry.

The big picture: SpaceX, United Launch Alliance and other companies are well-established with strong customer bases and robust portfolios, but the prospects for the industry's growth hinge on smaller companies.

Go deeperArrow34 mins ago - Science