Aug 27, 2018

Sarah Kunst forms Cleo Capital to seed female founders

Illustration: Lazaro Gamio / Axios

Entrepreneur Sarah Kunst is raising $10 million for a new fund called Cleo Capital, which will provide capital to female entrepreneurs to act as scouts, Axios has learned.

  • She's already secured $1.7 million, per an SEC filing.
  • Kunst made news last year for disclosing that she had received inappropriate messages from investor Dave McClure, who later was forced out of the firm he had founded.

Why it matters: Women still make up only 9% of decision makers in venture capital firms, and receive only a small fraction of VC funding. VC scouts typically keep much of the upside of their deals (as incentive to perform), so Cleo Capital could enable a new group of women to earn significant cash if they prove savvy at picking startups to back.

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Axios
Updated 44 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,020,216 — Total deaths: 761,393— Total recoveries: 13,048,303 — Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,289,323 — Total deaths: 167,948 — Total recoveries: 1,774,648 — Total tests: 64,831,306 — Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity —Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health.
  4. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Politics: Biden signals fall strategy with new ads.
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Alexi McCammond
2 hours ago - Politics & Policy

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.

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Sara Fischer
2 hours ago - Technology

Facebook goes after Apple

Illustration: Lazaro Gamio/Axios

Facebook is seeking to force a face-off with Apple over its 30% in-app purchase commission fee, which Facebook suggests hurts small businesses struggling to get by during the pandemic.

The big picture: Facebook has never publicly gone after Apple, a key strategic partner, this aggressively. Both companies face antitrust scrutiny, which in Apple's case has centered on the very fee structure Facebook is now attacking.

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