Paul Judge And Marcelo Claure Acquire Property From SoftBank In Clare Market

ACQUISITION IMAGE: Marcelo Claure & Paul Judge DATE: 12/19/2023 BUYER: Paul Judge & Marcelo Claure SELLER: SoftBank SALE PRICE: $250,000,000 NOTE: SoftBank is divesting its Open Opportunity Fund, with chairman and managing partner Paul Judge and Marcelo Claure, the fund’s vice chairman and general partner, set to acquire it. Judge and Claure will take ownership of the $100 million Open Opportunity Fund 1, the $150 million Fund 2, and the entire portfolio, with Fund 2 increasing its target to $200 million. Claure, who was SoftBank’s COO until 2022, is returning to work with the fund, emphasizing the move towards diverse representation in the venture capital ecosystem. Fund 1, deployed under Claure's leadership, invested $100 million in 75 Black and Latino companies, achieving seven exits and 46 follow-on rounds. The rebranded Fund 2 aims to invest in 50 pre-seed to growth-stage companies in various sectors, prioritizing diversity in the tech ecosystem. SoftBank will continue its involvement as an LP in Fund 2. SoftBank HQ: #Tokyo #Japan #VentureCapital #MarceloClaure #PaulJudge #SoftBank #TradedVC

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Colossal Biosciences In Talks For Funding Round Targeting $23 Billion ValuationColossal Biosciences, the de-extinction biotech startup known for its efforts to recreate the woolly mammoth and other extinct species, is reportedly in talks to raise new funding at a valuation of roughly $23 billion–$24 billion, according to Axios. The potential raise would mark a significant jump for the five-year-old company, with investors valuing not only its genetic-engineering programs but also its broader genomics, reproductive technology, conservation, and intellectual property platform. Colossal has begun generating revenue through conservation technology sales and technology spinouts, including Astromech, an AI-driven predictive modeling company, and Form Bio, a computational biology platform, expanding its value beyond de-extinction efforts. FOUNDERS: Ben Lamm & George Church TARGET VALUATION: $23,000,000,000 HQ: Dallas, Texas #VentureCapital #ColossalBiosciences #BenLamm #GeorgeChurch #TradedVC