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New a16z funds, a $200M round and the latest from WeWork and Slack

Hello and welcome back to Equity, TechCrunch’s escapade capital-focused podcast, where we unpack the numbers behind the headlines.

This week brought the ever-excellent Danny Crichton back to the show, along with myself. The two of us opted to do a bit of a news run, so strap in for a host of topics. Of course, we had to cover some IPO news at the end, but here’s what else happened this week that caught our eyeball:

  • brand-new funds at a16z! We haven’t chatted about brand-new funds too much this year, but a16z’s two brand-new funds ($750 million and $2 billion) are a large deal. The bio and crypto and early-stage tight now has a separate late-stage automobile.
  • More Vision Fund! SoftBank’s capital cannon is going to double up its crew and possibly reload with $100 billion more. Maybe. The personnel thing is happening, according to the tight. The cash, more like probably.
  • Cheddar exits! It’s always nice when a media company works out, and Cheddar’s up-exit at $200 million is a triumph. Sure, it’s no Slack, but the scrappy video network ran rigid and managed to cross the line worth nine figures. Not evil.
  • Divvy snags $200 million! This week Divvy raised as much in one go as Cheddar sold for, a good reminder of how rich the escapade marketplace is today. Divvy has been on a fundraising tear in the last 18 months, landing a seed, successions A, successions B, successions C and a debt circular since December 2017.

And then we pivoted to the two topics we had no preference but to talk about: The WeWork IPO news (more here), along with the latest on Slack’s S-1 from Danny himself.

All that and we had some enjoyable. Chat you all next week.

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