Second-hand marketplace Vinted — one of our largest Fund II positions by carrying value — saw revenues and profits soar in 2024 as pre-owned fashion continues to boom. Vinted posted net profit of $87M as sales increased by 36% to ~$1B! (Forbes)

Voice AI startup SuperDial raised a $15M debt and equity Series A led by SignalFire with participation from Slow Ventures and BoxGroup. The company helps U.S. healthcare billing teams replace hours of insurer calls with AI agents. (Fierce Healthcare)

Clutch, the “Carvana of Canada” recently announced it surpassed C$1B worth of total vehicles purchased! With the company on pace to double that number within the next year, Clutch is shaping up to be the breakout winner of our Archangel fund. (Betakit.com)

Palmstreet raised a $25M round from a16z, Craft Ventures, and Headline to scale its livestream shopping platform for rare plants, handmade crafts, crystals, and more. The Palmstreet community has reached over one million members with 5X growth over the past year. (Palmstreet.app)

FJ Labs incubation, Midas, a protocol for issuing yield-bearing tokens backed by U.S. Treasuries and other assets, introduced a blockchain-based private credit product structured to track Fasanara’s F-ONE fund. The company has scaled from 0 to $300M TVL in 9 months! (Coindesk)

The VC market is in flux: AI is booming while the rest of venture is in the dumps. Fewer deals are happening at higher prices. New marketplace types are emerging. AI is impacting marketplaces in unexpected ways. In his Venture Market Trends podcast, Fabrice covers it all!

Fabrice recently sat down with Dan Park, CEO of our portfolio company Clutch. Clutch was a highflier in 2021, had a brush with death in 2023 and effected an incredible turnaround. We’re excited for you to hear Dan and team’s impressive story!

Fabrice was recently back on 20VC with Harry Stebbings where he participated in a wide-ranging conversation covering our unique secondaries strategy, how we’re thinking about investing in AI (and what we are avoiding), and the latest in venture trends.

Fabrice had an engaging fireside chatwith Dhruv Sharma, CEO of AngelList India, for Offline, a private members’ community for leading entrepreneurs in South Asia. Fabrice outlines FJ’s main investment heuristics, our current theses, his views on the macro, as well as some fun, personal productivity hacks.

While many others have given up on B2B marketplaces, we continue to lean in. Shout out to Lauren Lee for the article on secondhand procurement marketplacesthat highlights some of our recent investments in the space such as Garage YC W24) and Fleequid.