Dave McClure, co-founder of 500 Startups, is raising $10 million for a special purpose vehicle to purchase a stake from limited partners in the venture firm and startup accelerator’s debut fund, according to an Axios report. The firm raised its first fund, a $29.6 million vehicle, in 2011, according to PitchBook. McClure resigned as a general partner at 500 Startups in 2017 following...
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The Electric electric vehicles
The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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