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Gumloop's quest to create a $1B startup with 10 people

13 hours ago | pitchbook.com | Rosie Bradbury

Max Brodeur-Urbas’ Gumloop, has an ambitious goal: reach a $1 billion valuation with just 10 people on its full-time staff. Right now, it has nine. The two-year-old AI-enabled workflow automation startup, a Y Combinator graduate backed by First Round Capital and Nexus Venture Partners, is taking the aspirational Silicon Valley concept of a “10x engineer” and extending it to its logical conclusion: Creating a billion-dollar company can be done with a few extremely efficient people.
Courting the wealth channel, VC struggles even as other private funds soar

1 day ago | pitchbook.com | Alec Davis

Featured image by Joe Raedle/Getty Images Fifteen years have passed since Naval Ravikant popularized a novel way for angel investors to break into a startup-funding system that was ruled by the clubby VC industry. Following the paradigm shift that Ravikant’s AngelList helped launch, scores of innovative asset managers and fintech platforms today are raising billions of dollars from wealthy individuals who seek access to the once-exclusive private markets.
Wisdom Ventures is raising a second fund to invest in wellness

2 days ago | pitchbook.com | Michael Bodley

Wisdom Ventures has raised an initial $16 million of a $50 million target for a second fund, betting in part on tech startups working to curb technology addiction. The firm’s new fund comes as Silicon Valley and the world beyond grapple with the early impacts on users of the fast rise of AI and other emerging technologies. Numerous studies and reports indicate that average screen time is increasing and that heavy social media usage has exacerbated adolescent mental health issues.
Just months after its founding, Mira Murati's Thinking Machines raises $2B at $10B valuation

1 week ago | pitchbook.com | Jacob E. Robbins

Kimberly White/Getty Images for WIRED Thinking Machines, the secretive AI startup founded by OpenAI’s former chief technology officer Mira Murati, has reportedly raised $2 billion at a $10 billion valuation. The round could be one of the largest seed rounds ever, another sign that VCs are increasingly focusing on AI investing at the earliest stages. The Financial Times reported that Andreessen Horowitz led the round into the four-month-old company.
X.AI sets sizes, boosts potential yield for $5B loan/bond offering

1 week ago | pitchbook.com | John Atkins |Jakema Lewis

X.AI Corp. has set the amounts for its $5 billion three-part financing at $1 billion each for five-year floating- and fixed-rate term loans, and $3 billion of five-year (non-call two) senior secured bonds, according to market sources. After documentation changes to the offering, books are slated to close on June 20 at 1 p.m. EDT. Price talk was revised wider.
StepStone Group plays down the need to chase discounts on startup and venture secondaries

1 week ago | pitchbook.com | Michael Bodley

Discounts on venture secondaries are on the rise—but that’s not influencing StepStone Group‘s strategy. The investment firm found that VC fund secondary interests acquired at discounts of more than 15% booked a 3x return, while smaller discounts returned 3.5x, according to a new study it conducted and shared exclusively with PitchBook. StepStone’s approach instead: paying more (via a slimmer discount, or even selective premiums) for top secondary stakes.
ICE detains NYC comptroller Brad Lander

1 week ago | pitchbook.com | Jessica Hamlin

New York City comptroller and mayoral candidate Brad Lander was arrested by federal agents at an immigration courthouse on Tuesday. Lander, who oversees the city’s five public pension funds with a collective value of over $280 billion, was “escorting a defendant” out of the downtown Manhattan courthouse when ICE agents detained him, his wife shared in a post on X from his account. Lander’s wife, Meg Barnette, said he remains in ICE custody.
Poor liquidity, political turmoil hamper South Korean VC

1 week ago | pitchbook.com | Leah Hodgson

South Korea’s VC market has had a tough start to the year as economic uncertainty and political turmoil cast a shadow over Q1 dealmaking. According to PitchBook’s Q1 2025 South Korea Market Snapshot, around $600 million was invested across 254 deals in the first three months of the year. Deal value is down nearly 65% from Q4, while the number of rounds fell 21.8% over the same period.
SEC opens the VC door a bit more for retail investors

1 week ago | pitchbook.com | Michael Bodley

The SEC is intensifying its push to grant retail investors greater and easier access to private markets, opening up a largely untouched investor base for VCs.Firms are still figuring out the SEC’s evolving stance on retail investors and whether raising capital from this group is even sensible. One challenge for venture firms: investing in early-stage startups while still providing the level of liquidity that retail investors expect.
Sponsor behavior, borrower size key factors in private credit recoveries – Blackstone - PitchBook

1 week ago | pitchbook.com | Sami Vukelj

A period of elevated defaults may add to evidence that larger borrowers are more resilient than those in the lower middle market, according to Brad Colman, global head of sponsor coverage for private credit strategies at Blackstone Credit and Insurance. It’s not only about loan documentation: sponsor behavior can greatly impact recoveries, Colman said in an interview with LCD.