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Jeff Clavier at a 2013 conference. Photo by Steve Jennings/Getty Images for TechCrunch.

Silicon Valley venture capital firm Uncork Capital is expanding both its team and its strategy, Axios has learned.

Why it matters: Uncork is one of the earliest seed-stage investment firms, founded in 2004 by Jeff Clavier.

Personnel moves: Uncork is adding two new general partners in Tripp Jones (ex-August Capital) and Susan Liu (Scale Venture Partners). It's also promoting Andy McLoughlin to co-managing partner, alongside Clavier.

Barbell strategy: Uncork is currently investing its sixth seed-stage fund and its first opportunities fund for existing portfolio companies, both sized at $100 million and around two-thirds committed.

  • Expect it to eventually raise follow-ons for both strategies, and also to add a new later-stage fund focused on its "anti-portfolio," or companies it was pitched but didn't back at the seed stage (e.g., Airbnb and Coinbase).

Go deeper

Dan Primack, author of Pro Rata
Sep 24, 2021 - Economy & Business

The great venture capital resignation

Illustration: Rae Cook/Axios

A growing number of top VCs are calling it quits, long before typical retirement age.

Between the lines: Generational turnover isn't new for venture capital, but in the past it's been born of lean times. What we're seeing now is the byproduct of unprecedented success.

1 hour ago - Technology

Scoop: Facebook exec warns of "more bad headlines"

Illustration: Annelise Capossela/Axios

In a post to staffers Saturday obtained by Axios, Facebook VP of global affairs Nick Clegg warned the company that worse coverage could be on the way: “We need to steel ourselves for more bad headlines in the coming days, I’m afraid.”

Catch up quick: Roughly two dozen news outlets had agreed to hold stories based on leaked materials from Facebook whistleblower Frances Haugen for Monday publication — but the embargo fell apart Friday night as participating newsrooms posted a batch of articles ahead of the weekend.

"Atmospheric river" to whiplash Northern California from drought to flood

A map depicting 24-hour preciptation forecast (inches) ending Monday at 5a.m. local time. Photo: NOAA

A series of powerful "atmospheric river" storms are set dump historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest from this weekend, forecasters warn.

Why it matters: A strong atmospheric river, packing large amounts of moisture, is predicted to whiplash Northern California from drought to flood.

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