💰Q3 Predictions, $1M+ in Fresh Funding Opportunities, Fundraising Cheat Sheet, Spotting Cap Table Red Flags, and More
This is a monthly newsletter of curated actionable insights and resources for 20,000 underestimated founders, funders, and friends.
Whoa! The US economy is going through some ups and downs right now. We've got 3% inflation and a 2.4% annual growth rate in Q2. To tackle inflation, the Fed has increased interest rates again, and their messaging points to them continuing to do so. Consumers are starting to spend less.
Now, let's talk about the early-stage venture capital market. In Q2 2023, global VC funding fell by a whopping 49% compared to last year, and early-stage funding dropped by 45% to $27 billion. Early-stage deals also went down by 35%. Tough times, no doubt. But don't lose hope!
Some areas are showing promise. Investment into startups rose 26% from Q1 to Q2 and there are signs that US VC investments are starting to stabilize. AI companies managed to raise $25B. 18 unicorns were minted in the first half of 2023. And women founders raised over $24B in the first half of the year, on track to be the 2nd-best year ever, just shy of the record set in 2021.
Despite the mixed bag of performance, remember that tough times can mean opportunities. It's not an easy road, but by staying informed, resilient, and adaptable, we can navigate this together con ganas!
✨ Lolita Taub, GP at Ganas Ventures | twitter | luma
Featured in Forbes, Nasdaq, Techcrunch, Thrive Global
PS Mattel’s community-driven approach to Barbie has raked in nearly $800M.
Congrats
Noramay Cadena (Ganas LP) & Shayna Harris raised $40M for Supply Change Capital’s Fund I. Nestor Solari raised $5.1M for Sigo’s Pre-Series A. Ana Ramos of Glitzi (port co) raised $2.8M. Bryan Pollard & Jordon Durst of Ask Alex (port co) for raising $100K from Ganas Ventures. Meg Pryde of Brandefy (port co) raised capital from Virginia Venture Partners. Martin Haiek of Around (port co) made the Top 100 Startups in Mexico 2023 List. Rarooq Timizi of Elphinstone (port co) made it possible for Pakistanis to invest in the US market with just $100. Roby Peñacastro of Leadsales (port co) expanded to India.
Sponsored | Founders, funders & friends: explore Ganas Ventures' latest investment, Ask Alex—a community-driven startup revolutionizing brick-and-mortar businesses. Read on to get an insider's look at this game-changing venture!
Funders
Signature Block | Read the guide on how to raise from LPs
Extantia | Learn how to identify cap table red flags
Carta | Get the stats around angel activity in 2023
Startup-Investor Matching Tool | VCs: meet thesis-aligned underrepresented founders
Sponsored | Founders, funders & friends: read our special edition showcasing Ganas Ventures’ investment into Storybook. This post unveils why Storybook stood out, going beyond its achievement as the #1 Parenting App in 90 countries.
Founders
Antler | Get the “Ability To Raise Cheat Sheet”
Techcrunch | Read up on the new rules of venture debt
Asking for a founder | Discover top marketing strategies for early-stage startups
LaaS | Underrepresented founders: get resources made for you
Sponsored | Founders asking, “What should my valuation be?” Fuelfinance, an FP&A solution for startup founders, introduced a Startup Valuation Calculator - a free template based on Andreessen Horowitz's article that will help determine your company's value. Check it out here & calculate your company’s valuation.
Money
Ganas Ventures | Community-driven founders: apply for $100K
Lattitude | US Latino founders: apply for up to $1M
Volcano Summit | LATAM founders: apply for $100K by 8/11
Publish Her | BIPOC women: apply for a $5K grant by 8/31
Fearless Fund | Black women founders: apply for a $20K grant by 8/31
Workers Lab | BIPOC women: apply for $200K
Amber | Women founders: apply for <$10K grants
Z Fellow | Technical tinkerers: apply for a $10K grant
TechRise | Chicago founders: apply to win $50K
SoGal Foundation | Black women founders: apply for $5-$10K in grants
1863 Ventures | Black founders: apply to get a 3Rs $5K grants
Equity Crowdfunding | Raise up to $5 million
Startup-Investor Matching Tool | Founders: get intros to investors
Want more? Follow me @lolitataub, and let me know how I can help. Want to support our newsletter and get featured? Become a sponsor.