Lachy Groom, a former Stripe product manager, has finished raising his third, $250 million venture fund, according to a June securities filing and a person with direct knowledge of the matter. The new fund, called LGF3, follows Groom’s second, $110 million fund, launched last year, and will similarly focus on investing in seed and Series A deals. The new fund, one of the largest raised by a...
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Fintech’s Big Wakeup Call
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills. But a series of recent high-profile setbacks with both fintechs and the traditional banking sector is setting off alarm bells. This month’s series of bank collapses has shined a spotlight on the health of small banks, typically a behind-the-scenes partner of...
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SpaceX Plans New Funding With Backing From Saudi, UAE Investors
