Briefing

The Briefing: Top Tier Closes On $310M For Europe, NerdWallet Aims To Go Public, And More

The Briefing

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Top Tier raises $310M Europe fund

San Francisco-based Top Tier Capital Partners announced it has raised $310 million for a dedicated European investment fund.

The fund will focus primarily on European funds with some investments in Israel. The Luxembourg-based investment fund seeks to invest broadly across the region, including in niche venture funds and expansion-stage technology startups.

Founded in 2002, Top Tier has nearly $6 billion in capital commitments since inception.

— Joanna Glasner

NerdWallet aims to go public

Consumer financial advice website NerdWallet was reported to have confidentially submitted initial public offering paperwork to U.S. regulators, Reuters reported.

The San Francisco-based company was founded in 2009 by Tim Chen and Jake Gibson. It last raised funding in 2015 in the amount of $69 million in Series A funding, and to date has brought in $105 million in known venture capital funding, according to Crunchbase data.

Sources told Reuters that the company expected to go public before the end of the year and was seeking a valuation of up to $5 billion.

— Christine Hall

Funding rounds

Alba Orbital raises $3.4M for earth imaging: Glasgow-based Alba Orbital, a developer of tiny imaging satellites, raised $3.4 million in a seed round led by Metaplanet Holdings with participation from several other funds and individual investors, including Fitbit founder James Park.

— Joanna Glasner

Gelmetix inks £5M: U.K.-based Gelmetix, which is developing a polymer treatment for chronic lower-back pain, closed a £5 million ($7 million) Series C equity financing round led by Seneca Partners. The company will use the capital to support its first in-human trial and study.

— Christine Hall

New fund

Framework Ventures closes $100M fund: Decentralized finance venture capital fund Framework Ventures, a $100 million closeout of its second fundraising round, “Fund 2.” The funds will support a number of DeFi projects, as well as exploring NFTs and gaming.

— Christine Hall

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link