Lucinda Shen

New York

Deals Reporter at Axios

Covering deals @axios. Formerly @fortunemagazine. Reach me lucinda.shen (@)https://t.co/yxq3OmkLrT. DM for signal and everything else.

Articles

Circle boosts IPO range to target $7.5B valuation

5 days ago | axios.com | Ryan Lawler |Lucinda Shen

Axios Pro Exclusive ContentIllustration: Sarah Grillo/AxiosStablecoin issuer Circle upsized and boosted its IPO price range on Monday, with the company and its backers now expecting to net up to $896 million, from $624 million. Why it matters: Circle is the first pure-play crypto listing since Coinbase in 2021, making its reception a bellwether for stablecoin economics.
Chime targets $11B valuation

5 days ago | axios.com | Ryan Lawler |Lucinda Shen

Axios Pro Exclusive ContentIllustration: Shoshana Gordon/AxiosNeobank startup Chime Financial is seeking to raise up to $673.4 million in an IPO that would value it at about $11.1 billion on a fully diluted basis, the company disclosed in an SEC filing Monday. Why it matters: Chime's IPO marks a sharp reset from its lofty 2021 valuation. Driving the news: Chime and shareholders plans to sell 32 million Class A shares at $24 to $26 apiece.
Scoop: Anduril's Palmer Luckey to invest in stealthy stablecoin startup

1 week ago | axios.com | Lucinda Shen |Dan Primack

Axios Pro Exclusive Content Photo: Kyle Grillot/Bloomberg via Getty ImagesAtticus, a stealthy stablecoin banking startup, is in advanced talks to raise new funding at a valuation of between $1.5 billion and $2 billion, Axios has learned from multiple sources. The round would be led by Palmer Luckey, the cofounder and CEO of defense-tech giant Anduril Industries.
Clickhouse's $6.35b valuation, L Catterton's target, and Scopely's Niantic close

1 week ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentIllustration: Shoshana Gordon/AxiosVenture Capital• ClickHouse, a Palo Alto, Calif-based database startup, raised $350m at a $6.35b valuation. Khosla Ventures led, joined by Bond Capital, Institutional Venture Partners, Battery Ventures, Bessemer Venture Partners, Index Venture, Lightspeed Venture Partners, Benchmark and Coatue. Go deeper• David Protein, a maker of high-protein bars, raised $75m in Series A funding at a $725m valuation.
Advent's Kereis bid, Radiant Industries microreactor bet, and PayPal Ventures ' new managing partner

1 week ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentIllustration: Aïda Amer/AxiosVenture Capital⚡️Radiant Industries, an El Segundo, Calif.-based microreactor developer, raised $165m in Series C funding led by DCVC Management, joined by Giant Ventures Global and StepStone Group. Go deeper• Atmosphere TV, an Austin-based business-focused streaming platform, raised $62.7 million in growth capital from Trinity Capital.
Coinbase conundrum reins in Circle IPO valuation

1 week ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentData: Circle's S-1; Note: IPO price shows high-end of proposed range; Chart: Axios VisualsCircle, the world's second largest stablecoin issuer, on Tuesday launched an IPO roadshow with plans to be valued at around $6.7 billion, down from a proposed SPAC at a $9 billion valuation in 2022. Why it matters: On paper, Circle is in a better position than it was three years ago, with stablecoin companies minting some of the largest crypto exits ever, and pending legislation.
Grin Therapuetics $140m and Cathay Innovations $1b

1 week ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentIllustration: Rebecca Zisser/AxiosVenture Capitalð Grin Therapeutics, a Blackstone-backed neurodevelopmental biotech, raised $140m in a Series D from Blackstone and Angelini Industries. Go deeperâ¢ Amplitude Studios, a French gaming studio, raised â¬12m in Series A funding led by Griffin Gaming Partners, with participation from Bpifrance. Go deeperâ¢ Sequence, an Israeli financial management platform for consumers and small businesses, raised $7.5m.
Hinge Health IPO's winners and losers

2 weeks ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentData: SEC filing; Chart: Axios VisualsHinge Health's IPO cut 52% off of its last private market valuation. But the investors who stand to lose have some insurance in place. Why it matters: Investors are finding ways to soften the blow for companies that are willing to go public below their late-stage rounds. Driving the news: The health tech company, which focuses on pain treatments, priced at $32 a share, valuing it at $2.6 billion. It closed the day at $37.56.
RevenueCat's $500m valuation and Northvolt's end

2 weeks ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentIllustration: Lindsey Bailey/AxiosVenture Capital• RevenueCat, a startup powering subscription apps, raised $50m in Series C funding at a $500m valuation. Bain Capital Ventures led, joined by Index Ventures, YC, Adjacent, Volo Ventures, and SaaStr Fund.
When AI makes venture capital investment decisions

2 weeks ago | axios.com | Lucinda Shen

Axios Pro Exclusive ContentIllustration: Lindsey Bailey/AxiosQuantumLight Capital, a new VC firm co-founded by Revolut CEO Nik Storonsky, raised $250 million for a debut fund that will put investment decisions entirely in the hands of an AI. Why it matters: The last time a VC firm gave algorithms the power to dictate investments, it ended with the machine getting the boot. The big picture: Plenty of firms use data and AI to help in due diligence and to spot companies.