EverythingStartups Weekly

Welcome to all the new visionaries here who signed up last week! Thanks to everyone that voted on last week’s poll on what type of content you enjoy the most on here. Most people voted for startups + VC, so we’ll keep delivering.

However, there is something exciting in the works in partnership with Katha VC, which will be exclusively for investors. Announcement dropping soon, so stay tuned!

Let’s get into this week’s edition on what’s happening & the main highlights. But first, check out these resources:

• 120+ Active Pre-Seed - Series A investors

• 48 pre-seed accelerators

• Latest VC funds announced

• 350+ SaaS investors

• LPs investing in VC funds

• Understanding founder vs VC investment memos

Partnership & collaboration opportunities. 

Cheers,
Ivelina

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Important News 🟣

• Emerging VC firms face a brutal fundraising climate in 2025, with first-time managers raising just $1.1B so far (down 80% from 2021) as LPs retreat and industry diversity risks backsliding.

• 24% of US unicorns received government support, a new study shows, highlighting the role of public funding in backing startups like Tesla, OpenAI, and Palantir across two decades.

• The Thiel Foundation unveils its 2025 class of Fellows, awarding $200K each to 18 young founders building in AI, biotech, defense, crypto, and planetary-scale infrastructure.

• Circle targets a $6.7B valuation in its US IPO, aiming to raise $624M with backing from ARK Invest, marking one of the largest crypto listings since Coinbase.

• In a victory for Palmer Luckey, who was fired from Facebook in 2017, Meta and Anduril will now work on mixed reality headsets for the military.

• Grammarly secures $1B in nondilutive funding from GeneralCatalyst.

• The 2025 Forbes Midas List is out, with Alfred Lin taking the top spot as OpenAI reaches a $300B valuation after a record-breaking $40B raise, while SpaceX, Stripe, and Databricks drive a new wave of VC power plays.

• Netflix co-founder and former CEO Reed Hastings joins Anthropic board.

🎙️ Thoughts: Great thinkers don’t get stuck in a thesis, instead they adapt.

There’s been a lot of debate lately on being a specialist vs. generalist VC.

I saw someone commenting that an LP told them:

“Specialists tend to outperform generalists in Fund I… but then their performance falls off a cliff.”

Specialist VCs win early. But most don’t survive past Fund II.

Why?

They ride the early hype cycle, but when the space gets crowded, their edge disappears.

Generalists have their weaknesses too, but the best investors don’t stay in one lane.

The takeaway?

𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐧𝐬 𝐞𝐚𝐫𝐥𝐲.
𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐰𝐢𝐧𝐬 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦.

Great thinkers don’t get stuck in a thesis, instead they adapt.

I think this applies to ALL areas of life - don’t get stuck in your beliefs as the ultimate truth, always challenge your belief system.

Below is a breakdown of the strengths & weaknesses of Specialist vs Generalist VCs across: 👇

 
Interesting Links 🟣

• Venture debt looks appealing, but early-stage startups should think twice. David Spreng warns it can kill flexibility, fuel bad decisions, and dilute founders even harder later. Better to grow slow than implode fast.

• Your life runs on math. James Currier explains how networks shape your job, your partner, your city, your success and how math hides beneath every social choice you think you’re making.

• Only half of SaaS startups make it to Series B. New Carta data shows just 40–50% of Series A startups graduate by Year 4, with tougher benchmarks post-2021 and capital efficiency now key to survival.

• What institutional investors want in private markets. From ESG metrics to co-investment rights, this new guide breaks down what LPs are really looking for in private deals.

• Not everything needs to be posted. In this manifesto, the author makes the case for private joy, off-camera love, and why mystery still matters in the age of the algorithm.

• Bain Capital opens 2026 analyst roles in private equity, tech, and real estate. A structured entry point into global investing and portfolio operations. Applications now live.

• SignalFire reports a 25% drop in Big Tech hiring of new grads in 2024 as AI begins to replace entry-level roles, with experienced hires up 27% and startups showing similar trends.

 
New VC Fund Highlight: Metalayer is turning heads 🟣

Metalayer Ventures just dropped a $25M bomb with their debut fund, Metalayer Fund I, and if you’re in the crypto startup scene, this is a big deal.

Let’s unpack why this NYC-based VC’s launch is turning heads.

First off, Metalayer is laser-focused on crypto’s next big wave, targeting three high-potential areas: capital markets infrastructure, stablecoin and payments apps, and real-world asset tokenization.

With founders Andy Kangpan, David Winton (both ex-Two Sigma heavyweights), and Mickey Graham (ex-Chainlink Labs growth guru), they’re bringing serious finance and crypto cred to the table, aiming to back startups that can hit mainstream adoption fast.

They’ve already got seven portfolio companies in the bag, including Crossover Markets, ClearToken, Ethena, Station70, Theo, and two fresh additions: AnchorZero and a stealth-mode stablecoin infrastructure project. With plans to build a 30-company portfolio through $500K-$1M early-stage investments, Metalayer is moving quickly to shape the future of crypto.

Brownie points for:

🍪 Deep expertise: The founding trio’s backgrounds in quantitative finance, distributed systems, and growth marketing give them a unique edge in spotting and scaling crypto startups that bridge traditional finance and blockchain.

🍪 Strategic focus: Their bets on capital markets infrastructure (think modernized financial plumbing), stablecoin apps (global access with yield), and asset tokenization (fractional ownership) align with massive, practical market needs.

🍪 Value-add support: Beyond cash, Metalayer offers go-to-market strategies, customer intros to financial institutions, and recruiting help, leveraging their networks in both TradFi and crypto.

🍪 Early traction: Seven portfolio companies already, including high-profile names like Ethena and Crossover Markets, signal strong deal flow and founder trust.

But…Can Metalayer Fund I deliver the goods?

Market timing: Crypto markets are volatile, and mainstream adoption of stablecoins or tokenization isn’t guaranteed. Can they navigate regulatory and market headwinds?

Competition: The crypto VC space is packed with big players. Can Metalayer’s niche focus and hands-on approach outshine larger, generalist funds?

Let’s see if it pays off.

PS: You can track all the latest new VC fund raises here.

Top Pre-Seed to Series A Funding Rounds This Week 🟣

• SpAItial, a Munich and London startup creating AI-powered 3D software tools for design, raised a $13 million seed round. Earlybird VC and Speedinvest participated in the round.

• Hormona, a London startup providing at-home hormone testing and tracking tools for women, raised a $6.7 million seed round. Volma Ventures and SuperNode Global VC led the round.

• Brooklyn Health, a Brooklyn startup using neural signals and biometric data to quantify mental health, raised a $6.5 million seed round. HealthX, Metrodora Ventures, Story Ventures, RiverPark Ventures, Laconia Capital, Everywhere Ventures, Hypothesis Studio, and Blue Falcon Capital participated.

• Gail, a Miami startup automating internal finance tasks for startups and SMBs, raised an $8.2 million seed round. HTwenty and Act One Ventures co-led the round, with participation from Mangusta Capital, NextView Ventures, and A15.

• Velocity, a London startup helping fintechs and banks manage stablecoin transactions across global markets, raised a $10 million pre-seed round. Activant Capital led the round, joined by Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures, and Preface Ventures.