Good Afternoon! Crunchbase has taken a liking to Augment by featuring us in an article about the world we operate in. Destiny has been buzzing for the past two weeks. Cendana and Kline Hill raises with $105M to acquire stakes in elite seed VC funds, targeting Limited Partners eager for exits. Meanwhile, Humane's launch of its $699 AI Pin breaks new ground in consumer tech. Adding a twist, Eric Schmidt's cautionary stance on China's AI prowess contrasts with his behind-the-scenes maneuvers for connections within the very industry he warned against.

TL;DR

• Augment get some of the spot light!

• Frenzy around Destiny

• Cendana and Kline Hill secure $105M to purchase stakes in seed VC funds from selling LPs.

• Humane introduces its $699 AI Pin, marking a significant entry into consumer technology.

• Despite public warnings about China's AI industry, Eric Schmidt sought connections within it.

Mamma… We made it!

Hopefully you know enough about our firm to not need a bio on us BUT Crunchbase does a pretty good job and who doesn’t love a little bit of attention. :)

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Frenzy around Destiny

Destiny Tech100 Inc. (ticker DXYZ), holding stakes in esteemed unicorns such as Elon Musk's SpaceX and Sam Altman's OpenAI, momentarily exceeded a $1 billion market cap this week, in contrast to its net asset value of $54.3 million as reported in the latest regulatory filing.

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$105M Raised by Cendana and Kline Hill for Acquiring Seed VC Fund Stakes from LPs

Venture capital's liquidity issue, exacerbated by few IPOs, prompts Cendana Capital and Kline Hill Partners to create a $105 million fund for buying secondary stakes in seed-stage ventures at a discount. This initiative taps into a niche market, offering liquidity solutions amidst declining startup valuations post-2021's investment boom.

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Launch of Humane’s AI Pin Priced at $699

Humane launches the Ai Pin, a $699 AI-powered device aimed at reducing smartphone reliance, reflecting the founders' post-Apple vision. Funded with $230 million, Humane seeks to pioneer generative AI devices. Despite its first-generation status, the Ai Pin showcases meticulous design and comes with accessories and a subscription service.

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Eric Schmidt’s Public Caution on China’s AI Contrasts His Private Comms

Eric Schmidt, while warning about China's AI for the US National Security Commission, also explored personal ties in China's AI sector. His foundation invested in a fund linked to Chinese tech, illustrating the complexity of US-China tech relations amidst rising tensions.

Read the report here

More News and Links

Vinod Khosla and Palantir's Jacob Helberg urge the Senate to ban TikTok, labeling it a "weapon of war."

Microsoft to announce new Windows and cloud AI updates in May.

Cyera, a data security startup, secures $300M, reaching a $1.4B valuation.

Talk soon and have a great rest of your week.

Cheers,

Adam Valenta

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