Refinery Ventures, a Cincinnati-based venture capital firm launched earlier this year by Tim Schigel, is seeking to raise to to $100 million for its debut fund, according to an SEC filing. So far it has already secured nearly $11 million, and has backed companies like Doc Halo, a real-time clinical communications startup.

Who? Schigel is the founder of ShareThis, a Silicon Valley make of a social media sharing widget for online publishers. He later would go on to lead a venture fund-pf-funds for a Cincinnati-based startup accelerator called Cintrifuse.

Why it matters: Most venture capital firms are concentrated on the coasts, thus making it particularly difficult for Midwestern entrepreneurs to succeed without leaving home. The arrival of firms like Refinery might be able to change that dynamic.

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50 mins ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. 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.