World News

Tuesday Capital, a Silicon Valley firm that moved to Austin during the pandemic, captures $31M for its newest seed-stage fund on August 1, 2023 at 7:40 pm

Published

2 years ago

August 1, 2023

Austin seems to agree with Tuesday Capital.

When the 12-year-old seed stage outfit — originally called CrunchFund — was co-founded by longtime Patrick Gallagher and TechCrunch founder Michael Arrington, it was interwoven with the Silicon Valley scene. In has since widened its net. Part of the shift owes to the pandemic, when many venture firms began meeting with far-flung founders online. Part of it owes to Prashant Fonseka. He joined Tuesday Capital as an associate in 2015, was promoted to partner in 2020, and lived like a “nomad” for much of that strange time, connecting in person with founders Tuesday Capital might have missed otherwise.

Indeed, Tuesday’s team ultimately decided to move the firm from San Francisco to Austin, and it has “definitely been easier to get to NY and other East Coast cities,” says Gallagher, who says he feels “great about the decision” to pull up the firm’s Bay Area stakes. “We have a strong community of founders from our portfolio companies that are now based in Austin,” he says, referring to some who moved during the pandemic and three other teams that Tuesday Capital has backed since it relocated. Austin also “expanded our reach and increased our access to really great deal flow,” Gallagher insists.

The transition went smoothly enough that Gallagher says the outfit just closed its fifth seed-stage fund with $31 million in capital commitments from many of the same family offices and institutions that have supported Tuesday Capital for years.

It wasn’t a piece of cake, suggests Gallagher. The firm is too small for large institutional investors. SPACs have fallen out of fashion, cutting off one avenue for some of Tuesday Capital’s portfolio companies to go public. (Those of its portfolio companies that merged with blank-check companies and got themselves onto the market: Rover, Opendoor, Satellogic, Inspirato, and Getaround.)

Meanwhile, the economic climate has obviously changed meaningfully between now and when Tuesday Capital announced a similar size fund ($30 million), almost exactly two years ago. “I definitely think that it is harder than ever to raise a fund in general, regardless of size,” Gallagher says.

Nevertheless, the firm’s portfolio, along with the support it offers startups — which includes PR, design, and community building — were leading reasons that LPs have continued to back the firm across its various funds, Gallagher says. Though Tuesday Capital doesn’t yet have the kind of cash on cash returns about which some firms might brag (“it takes a long time for our funds to start to generate meaningful liquidity,” he explains), it has shown its ability to get into buzzy deals, certainly. In addition to writing checks to Uber, Digital Ocean, Gitlab, Opendoor, and Airbnb, among others, its still-private portfolio also holds some highly valued companies, including Zipline (valued at $4.2 billion back in April), Solugen ($2 billion as of last October), and Human Interest ($1 billion as of a year ago)

LPs also see what a lot of VCs have seen across 2023, suggests Gallagher, including the opportunity for VCs to get more bang for their buck, at long last.

Though the firm plans to continue writing initial checks of $250,000 to $500,000, it’s “definitely getting more ownership today compared to 18 months ago,” though Gallagher adds that it’s “still less” than when the firm started in 2011.

Tuesday Capital is far from alone is choosing to move its headquarters from the Bay Area to Austin. Other venture firms to do so in recent years include Founders Fund, Mithril Capital, 8VC, and Breyer Capital, among others.

Bill Gurley, a Texas native who was long the highest-profile investor at the boutique venture firm Benchmark, also recently made the move to Austin, reportedly fulfilling a promise when he married his wife that they’d move back to Texas once they were empty nesters.

Austin seems to agree with Tuesday Capital. When the 12-year-old seed stage outfit — originally called CrunchFund — was co-founded by longtime Patrick Gallagher and TechCrunch founder Michael Arrington, it was interwoven with the Silicon Valley scene. In has since widened its net. Part of the shift owes to the pandemic, when many venture firms

News

Pope Francis is Now in Stable Condition

Published

2 weeks ago

February 22, 2025

Bolanle Media Staff

Pope Francis, the 88-year-old leader of the Catholic Church, remains in critical condition at Rome’s Gemelli Hospital, where he has been receiving treatment for over a week. The pontiff’s health has taken a turn for the worse, raising concerns among the faithful worldwide.

Current Status

As of Saturday, February 22, 2025, Pope Francis experienced a prolonged asthma-like respiratory crisis that required high-flow oxygen treatment. The Vatican reported that his condition had deteriorated since Friday, emphasizing that “the pope is not out of danger”.

The Holy Father continues to be alert and spent the day in an armchair, although he is experiencing more discomfort than the previous day. His prognosis remains guarded, indicating the seriousness of his condition.

Medical Challenges

Pope Francis is battling a complex set of medical issues:

The pope’s medical team faces the challenge of balancing various medications to combat these issues while monitoring for potential complications, such as sepsis.

Treatment and Outlook

The Vatican has confirmed that Pope Francis will remain hospitalized for at least another week. He is receiving targeted drug therapy and high-flow oxygen as needed. While he is not on a ventilator and can breathe independently, his condition requires close monitoring.

Dr. Luigi Carbone, the pope’s personal physician, stated, “He is not out of danger,” highlighting the delicate nature of the pontiff’s health.

Impact on Vatican Activities

In light of the pope’s condition, all public engagements on his schedule have been suspended through Sunday. The Vatican is carrying on with its Holy Year celebrations without the pope’s presence.

As the Catholic world watches and prays for Pope Francis’s recovery, the Vatican continues to provide updates on his condition. The situation remains fluid, and both positive and negative outcomes are possible given the complexity of the pope’s health issues.

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Business

HRM Queen Shanta Lana Hereford Delivers Powerful Speech on Global Peace

Published

3 weeks ago

February 20, 2025

Bolanle Media Staff

New Delhi, India – February 16, 2025 – Her Royal Majesty Queen Shanta Lana Hereford, a distinguished global leader and advocate for peace and economic empowerment, was a special
guest speaker at an international event hosted by the EurAsia Afro Chamber of Commerce. The
hybrid event, aired live from New Delhi, India, gathered influential leaders, policymakers, and business executives from around the world to discuss global cooperation, economic diplomacy, and sustainable peace.

Queen Shanta delivered a compelling speech titled “Creating a Framework for a Global Peace Charter,” emphasizing the need for a justice-centered, faith-driven approach to global peace. She outlined a transformative vision, calling for governments, businesses, and faith leaders to unite to draft policies integrating equity, economic accountability, and environmental stewardship into global governance.

“The pursuit of peace is not just the absence of war; it is the presence of justice, dignity, and
opportunity for all, ” Queen Shanta stated. “We must move beyond just talking and establish
actionable frameworks that empower nations and communities to achieve lasting prosperity and peace.”

The EurAsia Afro Chamber of Commerce, under the leadership of its founder and chairman, Dr. Rohit Gupta, is dedicated to fostering economic and cultural collaboration between Africa, Asia, and Europe. The organization aims to create a strong, interconnected business network
bridging these regions, facilitating pathways for economic prosperity and diplomatic relations.
As a prolific leader within the African American diaspora and a global advocate for its
advancement, HRM Queen Shanta Lana Hereford is actively exploring opportunities for trade
and commerce between Africa, Asia, Europe, and other international communities.

Through her affiliations with organizations such as The African Diaspora Collective, The Atlanta Black Chambers, The Black Achievement Fund, The National Business League, The 10K Project, and many others, she is championing economic initiatives that build sustainable supply chains and foster strategic partnerships.

Her mission is to create economic opportunities for Black entrepreneurs and business leaders in America, who have historically been excluded from global trade discussions. By forging these international connections, Queen Hereford is working to ensure that Black communities in the U.S. not only have a seat at the table but play a key role in shaping the future of international commerce, economic empowerment, and global policy.

The event featured several other distinguished guests, including:
● Dr. Rohit Gupta: Founder and Chairman of the EurAsia Afro Chamber of Commerce,
Dr. Gupta has been instrumental in promoting cross-continental business relationships
and trade.
● H.E. Bishop Dr. Samsher Khan: Founder of the BSK Prayer Tower and IRKT, Bishop
Dr. Khan serves as a Peace Ambassador for the International Human Rights
Commission (IHRC) and holds the position of Asia’s Social Media Editor. He is dedicated
to promoting peace and spiritual well-being across communities.
● Madam Sadhvi Pragya Bharti: Sadhvi Pragya Bharti is a spiritual leader, humanitarian,
and national media panelist known for her advocacy of social and educational reforms
rooted in spirituality and justice.

The event underscored the importance of strategic economic partnerships as a tool for
peacebuilding, aligning with Queen Hereford’s global mission of self-determination and
economic sovereignty for Black and Indigenous communities worldwide.

As part of her continued advocacy, Queen Hereford urged global stakeholders to collaborate on
drafting a Global Peace Charter, organizing annual Global Peace Assemblies, and
implementing economic policies that uplift marginalized communities.

This event marks a significant milestone in international diplomacy, reinforcing the role of
economic and cultural cooperation in shaping a peaceful and prosperous future for all.

For media inquiries, interviews, or further information, please contact:
H.E. Roselyn Omaka
National Press Secretary, Nation of Cherut
Email: nps@nationofcherut.org
Phone: 281.301.5535

News

Terror Attacks in New Orleans and Las Vegas Linked

Published

2 months ago

January 2, 2025

Bolanle Media Staff

The start of 2025 has been marred by two horrific terror attacks in the United States, one in New Orleans and another in Las Vegas, both occurring on New Year’s Day. These incidents have left communities reeling and have raised concerns about potential connections between the suspects involved.

In New Orleans, a truck driven by 42-year-old Shamsud-Din Jabbar plowed into a crowd celebrating on Bourbon Street, resulting in at least 15 deaths and over 30 injuries. Eyewitnesses reported that Jabbar, a U.S. Army veteran from Texas, deliberately targeted pedestrians while flying an ISIS flag from his vehicle. Following the attack, he exited the truck armed with an assault rifle and opened fire on police officers before being killed in the ensuing confrontation. Authorities discovered improvised explosive devices (IEDs) within his vehicle and in the vicinity of the attack site, further confirming the premeditated nature of this act of terrorism.

Simultaneously, a separate incident unfolded in Las Vegas when a Tesla Cybertruck exploded outside the Trump International Hotel. The driver, identified as Matthew Livelsberger, also had a military background and was reported to have detonated the vehicle packed with firework mortars and fuel, resulting in his death and injuring seven others. Investigators are exploring whether Livelsberger and Jabbar had any prior connection, as both men served at the same military base at different times.

While the FBI has confirmed that they are investigating both attacks as acts of terrorism, they have not established a definitive link between the two incidents. However, similarities in their execution—both suspects rented vehicles from the same company—have prompted further scrutiny into their backgrounds and any potential accomplices.

As investigations continue, authorities are urging anyone with information about either suspect to come forward. The tragic events have sparked discussions about security measures in public spaces, particularly as cities prepare for large gatherings in the coming months.

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