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Welcome back Chronicler! I have gotten a lot of feedback about naming the newsletter “ The Carry Club “ leading to confusion since you’re probably here from the Venture Chronicle LinkedIn page. So, though short-lived, we’re back to the Venture Chronicle Newsletter!

This week, Daniel Ek steps down, The Sims have a new home, NVIDIA rival can’t seem to go public, and 32 jobs await your application !

As always, thank you for subscribing and engaging week-in week out with this newsletter, it is still a work in progress but I appreciate all 1,316 of you ♥️

With Love,
Kev

THIS WEEK IN VENTURE CAPITAL & TECH

  1. And just like that, the music stops, Daniel Ek, Founder and CEO of Spotify has decided to step down, and will become the Executive chairman the by end of the year. Replacing Daniel as co-CEOs are current co-Presidents Gustav Söderström and Alex Norström. The why is still unclear, but mentioning that he has two children might suggest it was time for him to spend some quality time. As sweet as that is, investors did NOT like the news with the stock dropping almost 7% on the news. Read MoreTechCrunch

  2. Electronic Arts has agreed to go private in what is the largest ever LBO, a record-breaking $55 billion with backers including Silver Lake, Saudi Arabia’s Public Investment Fund, and Jared Kushner’s Affinity Partners. Taking EA off the public markets as it doubles down on hit franchises like FC 26, Battlefield 6, and The SIMS franchise. For investors, the move signals confidence in gaming’s long-term cash flows; for players, it could reshape how one of the industry’s biggest publishers builds, markets, and bets on the future of interactive entertainment.

    Read MoreCNBC

  3. Donald Trump has publicly demanded that Microsoft fire Lisa Monaco, its President of Global Affairs, claiming her past roles under Obama and Biden make her “unacceptable” in a position with access to sensitive information. Microsoft has stayed silent, and Monaco has not responded, leaving observers watching whether the company will resist political pressure or cave to demands that could set a precedent for corporate governance and free speech.

    Legal and national security experts note that while Monaco’s security clearance was revoked earlier this year, forcing a private company to terminate a former government official raises thorny questions about politicization, talent flow between government and tech, and national security norms. Read MoreTechCrunch

  4. Anthropic is tripling its international workforce and expanding its applied AI team fivefold, driven by surging demand for its Claude models outside the U.S. Its revenue jumped from $1B to $5B in eight months, and the company now serves over 300,000 business customers. New offices in Tokyo, Dublin, London, and Zurich, plus a Microsoft Copilot partnership, signal a major global push. Read MoreCNBC

  5. 🇦🇪 The UAE launched “The Emirates: The Startup Capital of the World” campaign to cement its position as a global entrepreneurship hub, aiming to train 10,000 Emirati entrepreneurs, support hundreds of startups across real estate, tax, and content creation, and create 30,000 jobs by 2030 — reinforcing SMEs’ role in driving over 60% of the nation’s non-oil GDP. Read MoreWamda

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FUNDRAISING NEWS

This week's funding rounds are serving up a huge rounds, new funds, an AI recruiter aiming to make the nightmare that is HR better, and a South Korean chip maker with eyes on Saudi Arabia, Chips for Oil!

  1. 🇺🇸 Cerebras Systems raised $1.1B Series G co-led by Fidelity and Atreides at an $8.1B valuation to scale its AI inference services and U.S. data centers, a year after filing for IPO but remaining private.
    Read MoreCerebras

  2. 🇬🇧 Notion Capital raised $130M Growth III fund to plug Europe’s growth-stage funding gap, nearly doubling its prior follow-on vehicle. The London-based VC will back both its existing portfolio and new startups with a focus on AI-infused application layers, defense, supply chain, fintech, SaaS, and healthcare tech. It aims to make ~12 growth investments, including recent bets in Upvest, Kraken Technology, and Nelly. Read MoreNotion Capital

  3. 🇺🇸 AI recruiter Alex raised $17M Series A led by Peak XV (with backing from Y Combinator, CHROs at Fortune 500s, etc.) to automate early-stage candidate screening via autonomous voice & video interviews. The startup says its AI conducts thousands of interviews daily for big enterprises, freeing recruiters to focus on higher-value hiring tasks.

    Alex plans to build richer professional profiles from conversational data—arguing 10 minutes of dialogue trumps static resumes or LinkedIn signals.. Read MoreTechcrunch

  4. 🇰🇷 🇸🇦 Rebellions closed a $250M Series C at a $1.4B valuation, backed by Arm, Samsung Ventures, and others, to accelerate deployment of its AI inference chips across Saudi Arabia, Japan, and the U.S., while preparing to launch its next-gen REBEL-Quad chiplet accelerator for hyperscale data centers. Read MoreWamda

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FROM LINKEDIN

Our favorite post from our LinkedIn page this week: Top 5 Must Listen to Podcasts

🎙️ Podcasts have been one resource that has helped me keep up to speed with VC news, learnings, and perspectives that I wouldn't have gotten anywhere else, the raw nature of conversations bring out frameworks to not only make you a better investor but also humble you.

VC is unapologetic, and yes most of the time it would have been better to organize an off-site for your team at Burning Man than to have invested in that SaaS company for dog owners, but it is still the most beautiful creation. Let's dive into our Top 5 for 2025 🏊‍♂️

1. Masters of Scale hosted by the one and only Reid Hoffman, co-founder of this wonder platform called LinkedIn and Partner at Greylock Partners. Reid sits down with founders and digs deep with his guests, talking about leadership, strategy, fundraising, the forbidden P word (Profitability), challenges, and mistakes. a must listen. Spotify Link

2. Consumer VC, founded & hosted by Mike Gelb has fantastic interviews with Venture Capitalists and Founders, diving deep and uncovering experiences from even non-tech subscription businesses. Spotify Link

3. The Puck: Venture Capital and Beyond - Podcast, closing out the podium, James Baer, Corporate Lawyer and restructuring professional at CMBG Advisors Inc. by day, Podcast host by night. The podcast examines the VC landscape and the broader shifts happening in the economy & society. A different take, and we're all here for it! Spotify Link

4. How I Built This with Guy Raz, by Guy Raz, simple, interviews companies and founders, detailing the story of how they started and scale their business, with the good, bad, and the ugly. Must listen for entrepreneurs and VCs alike.
Spotify Link

5. Closing out the top 5 is Women in Venture Capital Podcast, run by Harvard Business School students, Anvita Dekhane & Rashveena Rajaram, when they're not at UiPath & General Catalyst changing the world, they host this fantastic podcast, shedding light on women breaking into the historically male-dominated industry from various facets of Venture Capital, from analysts to MDs, this is one of our favorites. Spotify Link

OPEN VENTURE CAPITAL JOBS

Here's what you've been waiting for: exciting job opportunities! To maximize your chances, remember these key tips:

That’s it for today, hope you enjoyed this as much as I did curating it, see you next week!
-Kev

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