Nov 10, 2017

Snip.it founder raising $75 million VC fund

Ramy Adeeb, most recently known for founding digital bookmarking service Snip.it, is quietly raising a $75 million venture capital fund called 1984 Ventures, according to an SEC filing.

Background: Adeeb founded Snip.it, which lets users collect news articles, photos, videos and other links into online collections in 2011. After raising money from firms like True Ventures and Khosla Ventures, he sold the company to Yahoo for $10 million in 2013 as part of the tech giant's acqui-hire spree. Prior to that, Adeeb spent seven years at TellMe Networks before a stint at Khosla Ventures as a principal.

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Trump administration backs Oracle in Google fight

Photo illustration: Aïda Amer/Axios. Photo via The Washington Post.

The Trump administration is siding with Oracle in the database giant's dispute with Google before the Supreme Court — a move that comes as Oracle's founder hosts a high-dollar fundraiser for the president.

Why it matters: Billions of dollars — and, Google argues, the future of software innovation — are at stake as a long-running copyright dispute between the two giant companies heads to the Supreme Court next month.

Established VCs turn to "super angels" to grow their network

Illustration: Eniola Odetunde/Axios

Thanks to companies like AngelList and Carta that make it easier than ever to set up small VC funds, a new generation of so-called “super angels” is cropping up — and established venture funds are backing them.

Why it matters: Just like the boom in scout programs a number of years ago, it’s all about the deal flow.

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.