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The largest agreement for the year so far happened in June, when four-year-old electric motorcycle maker Spiro raised $270 million. That helped raise the total for the half year, but the number of startups raising $100,000 or more fell to its lowest level since 2021, the data showed. Read more:
African startup funding dips 6% year on yearThe number of startups raising $100,000 or more fell to its lowest level since 2021.www.semafor.comAbu Dhabi is building a 100 billion dirham ($27 billion) waterfront expansion on Saadiyat Island, the biggest single addition to the district yet. www.semafor.com/article/07/2...
Abu Dhabi developer Aldar starts $27B expansion projectAbu Dhabi is one of the few Gulf property markets that has not cooled during the war.www.semafor.comBlackstone, Brookfield, and KKR to invest $16 billion in Kuwait oil pipeline network. The investors will acquire a 49% stake in a joint venture with Kuwait Oil Company, which will have a 20.5-year lease on the pipelines and lease them back to the state oil company.
Blackstone, KKR invest in Kuwait pipelinesKuwait, which raised a $6 billion bond recently, is trying to attract more Wall Street firms and foreign investors as it works to develop its domestic economy.www.semafor.comCarlyle has acquired Secturion Systems, the first deal from the private-equity firm’s new fund focused on medium-sized companies that sell to the government. www.semafor.com/article/07/2...
Carlyle strikes first deal in new defense pushCarlyle’s acquisition of Secturion Systems, which makes encryption hardware for government agencies, launches Carlyle’s middle-market defense platform, which is seeking to raise up to $3 billion.www.semafor.com🟡 NEW: BDT & MSD Partners buys into tech: The Michael Dell-backed merchant bank, which manages much of the billionaire’s fortune, has hired Goldman Sachs partner Darren Cohen, who oversaw the bank’s bets on Anthropic and Databricks, to invest and raise a new tech fund.
Exclusive: BDT & MSD Partners buys into techThe Michael Dell-backed merchant bank hired a top Goldman partner to lead and raise money for a new tech fund.www.semafor.comYinka writes: For years, the case for US investment in Africa has run into the same wall. Companies and financiers argued the regulations, infrastructure, and technical capacity needed to make projects bankable simply weren’t there. The US State Department thinks it finally has the answer
View: Trump’s $500M private investment push into AfricaThe new US-Africa Strategic Investment Program invites businesses to compete for grants that “de-risk and catalyze” private investment on the continent.www.semafor.comTrump’s $500M private investment push into Africa, explained by Yinka Adegoke "This is not development finance. Instead, Washington is funding the work that often determines whether investments happen at all: geological mapping, customs modernization, regulatory reform, and workforce training."
View: Trump’s $500M private investment push into AfricaThe new US-Africa Strategic Investment Program invites businesses to compete for grants that “de-risk and catalyze” private investment on the continent.www.semafor.comChinese investments in Africa have soared to $34 billion so far this year, nearly tripling from last year. www.semafor.com/article/07/2...
Chinese investments in Africa soar to $34 billion so far this yearThe results were the highest half-year total on record and by far the strongest performance of any region under Beijing’s Belt and Road Initiative.www.semafor.comThe CA senator plans to introduce two new bills that would attempt to illuminate who is paying influencers for political speech online and restrict AI-generated likenesses of politicians. Read more: www.semafor.com/article/07/2...
Exclusive: Senate Democrat’s new bills would restrict AI-powered ads and paid influencersCalifornia Sen. Adam Schiff plans to introduce two new bills that would attempt to illuminate who is paying influencers for political speech online and restrict AI-generated likenesses of politicians.www.semafor.comThe coming “super” El Niño could result in extreme weather costing Africa $20 billion and spark a mass migration. www.semafor.com/article/07/2...
Coming “super” El Niño could cost Africa $20 billion, AfDB saysExtreme droughts and flooding threaten food and water security, while infrastructure damage could leave countries struggling to repay loans.www.semafor.comStocks in Chinese memory-chip giant CXMT jumped 466% in their debut, making it the country’s most valuable publicly listed firm. www.semafor.com/article/07/2...
Chinese chipmaker CXMT’s shares jump 466% at IPOThe debut makes CXMT — Beijing’s best hope of challenging foreign producers of memory chips — China’s most valuable publicly listed firm.www.semafor.comFires sweeping across Europe have forced hundreds of thousands to flee their homes; a senior EU official warned the region is “not prepared” for the consequences of climate change. www.semafor.com/article/07/2...
Europe races to tame wildfires across the continentThe wildfires sweeping across Europe — the world’s fastest-warming continent — have forced hundreds of thousands to flee their homeswww.semafor.comRussia has once again canceled its annual St. Petersburg Navy Day parade over the threat of Ukrainian drone attacks. www.semafor.com/article/07/2...
Russia cancels navy parade fearing Ukraine drone attacksThe cancellation of the St Petersburg Navy Day parade shows how Kyiv’s long-range strike capabilities are hurting Russia far from the front lines.www.semafor.comThe world’s largest defense companies are investing in military startups at record rates. Giants such as BAE Systems and Lockheed Martin have piled $4.1 billion into venture capital rounds this year www.semafor.com/article/07/2...
Defense giants invest record $4.1B in startupsBAE Systems and Lockheed Martin have reportedly piled a record $4.1 billion into venture capital rounds this year.www.semafor.comTrump’s new tariffs have “introduced an exponential amount of uncertainty” for US importers. www.semafor.com/article/07/2...
US importers say new tariffs spark ‘exponential’ uncertaintyWith the tariffs that lapsed Friday, “we knew what we were getting,” the Consumer Technology Association’s Ed Brzytwa told Semafor.www.semafor.com