ERNEST DEPLOYS $500M WITHOUT TRADITIONAL VC FUND
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Justin Ernest, founder of Sabertooth VC, has invested nearly $500 million into startups including Anthropic, Anduril, and SpaceX by leveraging a captive network of limited partners instead of establishing a formal venture fund.
■ MORE FROM THE STARTUPS DESK
Elisa de Martel, who stepped down as chief financial officer at Alphabet's Waymo in January, has joined self-driving startup Wayve. She will be based in Silicon Valley.
Fortell, an AI-powered hearing aid startup, secured $163 million in funding from top-tier investors including Founders Fund and Thrive Capital. The company aims to disrupt a market dominated by a few major players by making hearing aids more accessible and user-friendly.
Arcee AI, a US-based developer of open-weight AI models, secured at least $150 million in Series B funding at a $1 billion pre-money valuation. The round marks significant investor confidence in the company's approach to post-training AI models.
Robotaxi company May Mobility is merging with a special purpose acquisition company in a deal valuing the company at $1.4 billion. The transaction is expected to raise over $300 million in funding.