Upcoming fellowship deadlines, roles, events, and more

Investors are already valuing OpenAI at over $100B on the secondaries market: OpenAI, projected to reach an ARR of $2B by the end of 2024, is planning to raise another round at a valuation of $100B — an amount which investors are already willing to pay, according to Caplight and Rainmaker Securities, firms which track current secondary deals. Thrive Capital is rumored to lead this round with a $1 billion investment, alongside contributions from Microsoft, Nvidia, and Apple.

Y Combinator leaps into defense tech with missile company investment: YC made its first foray into defense tech by investing in Ares, a company developing cost-effective, warship-sinking missiles smaller than those of existing contractors. YC’s decision — driven by the increasing emergence of venture-backed weapons startups like Anduril — is unique, given that defense investments often cause controversy in Silicon Valley (take Palantir’s involvement with ICE). Ares, led by Alex Tseng and Devan Plantamura, has attracted possible customers and is obtaining licenses.

NEA quietly reenters the secondaries market: New Enterprise Associates, a firm based in Silicon Valley, raised $468M from 60 LPs for a Secondary Opportunity Fund earlier this year. According to Caplight, the secondary market is on track to surpass last year’s total volume of $1.1B, with NEA’s re-entry and other firms like StepStone and GSquared also establishing secondary funds.

The New Frontier Of Tech Acquisitions: Under Lina Khan, who became FTC Chair in 2021, the agency shifted its focus from consumer pricing to preventing monopolies, making companies wary of undertaking large acquisitions. To avoid antitrust scrutiny, they prefer acquiring top talent responsible for innovation —such as startup founders—rather than whole companies. For example, Google integrated a team from Character.ai, while Microsoft onboarded employees from Inflection. More recently, Amazon hired three co-founders from Covariant and gained a non-exclusive license to the AI company’s models. This trend of “talent heists” may ultimately pose risks for VCs, who place long-term bets on startups.

Startup Boston Week 2024 (Free of Cost)

Startup Boston Week 2024 is right around the corner, taking place September 9-13! This free week-long event has countless opportunities, from pitch competitions and investor meet-and-greets to hands-on workshops on scaling, fundraising, and leadership development. With 100+ sessions, 300+ speakers, panel discussions, and a startup showcase, there's no better place to learn, connect, and elevate your venture to new heights. Don’t miss out—Boston's startup community is ready to welcome you!

ACA Women’s Investor Forum 2024 (Starting from $225 for ACA members and $275 for non-members)

Join the Angel Capital Association's upcoming event in Boston for female angel investors, featuring the screening of the documentary "Show Her the Money" and a reception on the 4th, followed by a full day of discussions and networking on the 5th. Part of ACA's Growing Women's Capital initiative, this event is dedicated to promoting female investors and driving capital towards women-led companies. Don’t miss this opportunity to connect with and support women in entrepreneurship!