Brittany Kay Eden

Sad to hear that Fintech Nexus is shutting down as I’m writing this #Tuesday_alert The industry downturn takes its toll, unfortunately. Last June, the team was forced to sell its events business, and now it's closing all the digital online resource for good. I can only imagine how hard it must be. Thank you, Peter Renton, Bo Brustkern, and the whole team, and I wish you only the best in your new beginnings. I didn’t have the privilege of being a Fintech Nexus contributor, but I’ve been quite a reader there 🙌 ⚡️ Talking about shutdowns, did anyone see the latest updates on the Synapse status? The fintech’s bankruptcy in late April has been a tough blow for customers and end users. The progress of customer funds recovery seems almost stuck, says Synapse trustee Jelena McWilliams, the former chair of the Federal Deposit Insurance Corporation (FDIC) and current partner at Cravath, Swaine & Moore LLP. Here are several updates from her latest report: 👍 Good news: - Most end users received funds from demand deposit accounts (DDAs). Evolve Bank & Trust has distributed more than $5M to over 3,000 individuals. - The bank stays determined to continue the cooperation and help more end users. The trustee asked federal banking and securities regulators for assistance in alleviating the situation for the affected customers. - She also obtained administrative access to Synapse’s key database. 👎 Bad news: - Returning funds from “for benefit of” (FBO) accounts remains a challenge as the fintech’s program ledgers do not match the actual fund transfers between Synapse and Evolve. - Evolve says it needs more collaboration and explanations from the Synapse ecosystem to handle the funds reconciliation and distribution. - American Bank, AMG National Trust, and Lineage Bank have shown slower progress than Evolve due to more complexities in returning the funds. - The amount of funds reportedly missing in the Synapse ecosystem is unknown but spans millions in USD. Alas, the funds return process is further complicated by the fact that Synapse held end-user funds in multiple FDIC-insured banks. So, one end user can have $100 in one bank, $1000 in another, and the rest of the funds elsewhere in the ecosystem. Hopefully, the Federal Reserve, FDIC, and OCC will help detangle this funds chain. ❓How much more time will the reconciliation and funds distribution take? What do you think? #fintechnexus #synapsebankruptcy #fundsreconciliation #fundsdistribution #banking #fintech

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Thrilled to announce the launch of our inaugural edition of Beyond Benchmarks at Emergence Capital. This comprehensive report dives deep into the metrics and trends shaping the early-stage enterprise cloud market. A huge thank you to our VC partners and contributors for making this possible! Here's a sneak peek of our findings: --> 60% of companies have already integrated GenAI into their service offerings, with another 20% planning to do so this year. --> While most companies use OpenAI as their primary LLM, many are experimenting with multiple models. We’re seeing a trend toward intelligently routing GenAI inference requests based on cost, performance, and security. --> Companies that have implemented GenAI are showing promising results, with a 7% higher NDR compared to those that haven’t. Beyond Benchmarks goes further with more GenAI trends, insights on the current fundraising environment, and key performance metrics. Our goal is to provide founders and their teams with valuable benchmarks to help them make better-informed decisions. At Emergence Capital, we're committed to helping founders build iconic companies. Dive into the full report here: https://lnkd.in/g6bnvAZM

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Big announcement below! 👇 Let's talk about the current state of GP-LP affairs: 🤯Emerging VC managers have absolutely exploded over the past 5 years. 📈 At the same time, more and more data has surfaced that shows that emerging VC firms tend to outperform larger, established firms. 🤔 All of this has made it intriguing but tough for LPs to know where to direct their attention. 🛍 GPs frequently meet LPs at conferences who are window shopping but not committed to the asset class or emerging managers. 🧾 And both crews get overwhelmed by transactional convos. So Sydney Paige Thomas and I created Abundance. Abundance is a private, nomination-based retreat for active LPs and top emerging GPs to form new experiences together and build lasting relationships. Why Abundance? Abundance is knowing that there is more than enough for more than one to succeed. And a single win within a community is a win for the community itself. The journey of an emerging VC manager from 1st close to final close or Fund 1 to Fund 2 is (1) communal and (2) requires an abundant mindset. LPs look for structure and confidence to feel comfortable investing in early VC firms. Yet many of the feeds we scroll and conferences we attend reinforce inherent power dynamics and transactional thinking, which allows scarcity mindset to creep in for emerging GPs. Some of the best events I’ve attended have been intentionally non-transactional, e.g. Camp Hustle, Recast Summit, and other GPs’ AGMs. The fundraising success stories we see usually involve a community (usually of other GPs & LPs) coming together to support and open doors for the emerging GP. We designed Abundance to be an immersive gathering that fosters these connections. Starting tonight, ~100 GPs and LPs are descending upon Seattle for the inaugural Abundance retreat. This has been under wraps for months and I can’t wait to see it come to life! Thanks in advance to our awesome sponsors who were the earliest believers in this vision: Sydecar, Amazon Web Services (AWS), Gunderson Dettmer, & Zelda Ventures. And shoutout to my dad Ed Illig for logo design & Halle Kaplan-Allen being the first sponsor to say yes 🤩 Presented by The Council Capital & Symphonic Capital.

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DeepCast shipped a number of really cool new features recently in advance of a broad outreach push to podcast listeners. One new feature is our new Daily DeepDigest tool that sends you a concise daily email including any new episodes from the trailing 24 hours from any podcasts you Subscribe to (on DeepCast). Think daily podcast cliff notes or podcast news ticker tape, with a hint of Morning Brew various brews or PitchBook News—it's increasing information throughput when you're pressed for time. And this feature is rapidly evolving to distill other key extractions from shows you're already interested in, but also exposing you to other shows you might be unfamiliar with that also have nuggets to share—and thus increasing your aperture yet still conscious of your time. Want to go deeper on any given episode? Click the episode detail and you're off to an episode on DeepCast, where you can subsequently read a longer form distillation of that episode or go straight to the source and listen to the episode. (And podcaster friends, these pages are definitely increasing indexing and thus Google entry points to your shows!) I'm loving this feature as a user, personally. Can't wait to see what others think! #BuildingInPublic #Podcasts #AllTheWorldsInformation #HowYouWantIt

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Ever since we launched SHAKTI, every quarter we write a letter to our LPs = Each letter includes an update on the portfolios, the GP's (our) view on the zeitgeist, an interview with a portfolio CEO and an interview with a TITAN = So far, we have 16 such letters = it's been on our "to do" list to share these publicly (i am lazy) = then Google comes along to save lazy people like me (thank you NotebookLLM) = here's a 10 min podcast summarizing our journey since Dec/2020 with the 16 LP letters as source = if you wanted to know what we are about, this is a pretty good place to start = https://lnkd.in/db7K2TrT cc SHAKTI

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