Jack Selby, an investor at Thiel Capital, is leveraging Arizona connections to secure stakes in emerging startups including AI chip company Etched. His firm, Copper Sky Capital, is raising a $300 million second fund.
Selby's investment strategy focuses on early-stage companies with strong regional ties. Etched, which develops custom AI accelerators, represents the type of infrastructure-focused startup attracting attention from established venture investors.
Copper Sky Capital's second fund filing signals confidence in the current startup landscape despite broader market uncertainty. The $300 million raise follows the firm's initial fund and positions Selby to make additional bets across sectors aligned with his Arizona network.
The move underscores how venture investors continue building concentrated portfolios around geographic hubs and sector expertise. Selby's background at Thiel Capital, known for contrarian tech bets, informs his investment thesis at Copper Sky Capital.
No timeline for fund completion was announced. The firm has not disclosed other portfolio companies or capital commitments secured to date for the second fund.
Meeting notetaker Circleback is introducing a free tier alongside new paid plans starting at $14 per month. The move aims to expand its user base by lowering barriers to entry.
AI sales and marketing startup Clay is raising a new funding round led by Wellington at a $7 billion pre-money valuation, up from $5 billion following an employee tender offer in January.
Ryan Breslow is securing up to $27 million in bridge funding to keep Bolt operational. The controversial founder is contributing $5 million of his own capital to the rescue effort.
Andreessen Horowitz has closed additional capital for its fifth growth fund, bringing the total to $8.5 billion. The fund targets companies scaling AI and enterprise software.