The Startup That Writes Itself

Typeface Generates Buzz, BCV Bags $1.9 Billion, and Nexus Ventures Goes Big on Seventh Fund.

Author

Adam from VC Brags
March 01, 2023

Welcome Shareholders,

In this daily edition of the Brags Newsletter, we'll cover how an AI startup comes out of stealth mode to capitalise on the growing demand, Bain Capital Looking to Boost Growth With a paid of New Funds, and Nexus Ventures going all in on the seventh fund.

So sit back, grab a snack, and enjoy!

Startup of the Day

  • AI-powered dashboard startup Typeface emerged from stealth with $65M in venture equity funding from Lightspeed Venture Partners, GV, M12, and Menlo Ventures.

By combining generative AI with a brand's tone, audiences, and workflows, Typeface seeks to revolutionize content workflows and corporate content development. Customers can use Typeface by inputting a prompt like "Write a Blog Post About Travel in Mexico," which will result in several paragraphs of text being generated accompanied by images.

It's possible to personalize the tone of both images and copy to appeal to specific demographics or adhere to a brand's style guidelines. The market for generative AI is expected to explode by the end of the decade, reaching $110 billion.

Who's Raising?

  • San Francisco-based venture capital firm Bain Capital Ventures said that it raised $1.9 billion for two new funds targeting startups from seed and growth rounds across the fintech, infrastructure, apps, and commerce sectors.

The fundraising is the largest for the firm to date, eclipsing the $1.3 billion raised in May 2021 to invest in early-stage startups. BCV has been pulling back in funding new startups over the past year due to a pullback. While the company participated in 39 deals across the first two quarters of 2022, BCV invested only in 20 rounds.

BCV has also had a slow start to 2023, having taken part in only four deals, including a $45 million Series B Investment in Iowa-based financial services tools developer Moov. The venture fund said that while 70% of its investments have been in the US, it has been increasingly interested in investing in startups across Europe and the UK.

  • Nexus Venture Partners has closed its Nexus Ventures VII fund at $700 million and will use it to support AI, SaaS, fintech, and commerce startups across India and the US.

Nexus Venture Partners, founded in 2006 by Naren Gupta, Sandeep Singhal, and Suvir Sujan, invests in tech-enabled startups in the US and India, with a portfolio that includes unicorns such as Delhivery, Unacademy, Druva, PubMatic, Zomato, and PostMan. Its investors include global pension funds, family offices, and endowment funds.

Recently, the firm has invested in Covvalent, Intello, Investment, and other startups. All in all, the company has invested in nearly 200 startups across both countries, mainly targeting startups between Seed and Series A focused on enterprise software and consumer internet technology companies.

Memes and Other Things

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