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March 5, 2025 - Deals
Steve Vassallo Sells Property For Closed Transaction With Foundation Capital Partners
Foundation Capital, a 30-year-old VC firm and early backer of Solana and Cerebras, has raised a $600M eleventh flagship fund, 20% larger than its previous $500M fund. Led by general partner Steve Vassallo, Foundation remains focused on seed-stage investing, identifying founders before they even leave their jobs. The firm has returned $1.4B to LPs over the past three years, with major exits including EvolutionIQ’s $730M sale to CCC and Venafi’s $1.5B acquisition by CyberArk. Foundation plans to maintain its 15-20% ownership in early-stage companies as deal sizes grow.
AMOUNT: $600,000,000
HQ: #PaloAlto #California
#VentureCapital #FoundationCapital #SteveVassallo #TechInvesting #TradedVC
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Hugging Face Explores Sale Valuing Open-Source AI Platform At $13 BillionHugging Face is exploring a potential sale that could value the open-source AI platform at $13 billion or more, nearly tripling its $4.5 billion valuation from its $235 million Series D in 2023. Founded by Clément Delangue, Julien Chaumond and Thomas Wolf, the company has grown to 13 million users and more than 2 million public AI models, while CEO Delangue has previously favored independence and an eventual IPO over a sale.
FOUNDERS: Clément Delangue, Julien Chaumond & Thomas Wolf
VALUATION: $13,000,000,000,000+
HQ: New York, New York
#VentureCapital #HuggingFace #ClémentDelangue #TradedVC