Lux Capital, a leading firm in frontier investing announced it’s investment plans recently. It has closed a $675 million early-stage venture fund and an $800 million growth-stage fund from its existing LPs.
In the last 12 months alone, a dozen of Lux’s portfolio companies have either been acquired, gone public or announced plans to go public. An example is Zoox, bought by Amazon last year. Shapeways and Desktop Metal have gone public by merging with blank-check companies.
The most recent of Lux’s portfolio companies to announce a SPAC deal is Bright Machines, a manufacturing software company that two weeks ago announced a merger with a publicly traded shell company. (Lux also raised its own $345 million blank-check company last fall, one that has yet to identify a target.)
In an interview with TechCrunch, co-founder Peter Herbert said they are aiming to own 20% to 25% in the companies. This is since they come in as series A investors. He also mentioned they might own up to 50% in some cases.
Check how a clothing startup reached billion-dollar valuation after IPO.
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