Coogan: SEC approves first 24/7 stock exchange backed by Point72
“The first around-the-clock U.S. Stock Exchange wins SEC approval, and who backed it? None other than Steve Cohen's .72 Ventures.”
Brightwave raises $6M Seed round led by Decibel Partners
“We, we've raised a six million dollar seed round including participate lead by decibel we love working with and including Participation from .7 to two, one of the largest hedge funds in the world and moon fire ventures.”
Monite raised a $10M seed across two tranches from Point72 and Third Prime
“And then we raised a larger seed around the two portions, five and five in 21 and 22. And so our total seed was ten million dollars led by .72 ventures and third prime. And the last portion of seed came in in December, 2022.”
Granade: Thesis-driven domain expert venture investing produces better returns
“They have strong theses and views about how companies are going to get built and how money is going to get made, and that really drives our process, and I think it produces a better approach to investing, meaning like I think it produces better returns.”
Granade: Fintech disruptors struggle economically without incumbent bank advantages
“Mostly what those companies are is they have a tech advantage, but they don't have access to customer advantage, and they don't have any sort of cost of capital advantage like a bank does and things like that, and so they've built technologies that people like…”
The line between financial services and consumer experiences will increasingly blur
“Globally, we also have a thesis that is that around this idea that the distinction between financial services and Other consumer experiences, that border is going to blur.”
Venture capital will become significantly more model-driven over the next five years
“I think that five years, I think that'll get challenged over the next five years. I think people will become more, more model driven, more data driven, more rigorous about that.”