Magazine

The Elusive Billion-Dollar Startups: Unicorns, Unicorpses, and the VC Who Coined It All

In 2013, Lee introduced the term "Unicorn" while launching Cowboy Ventures. Additionally, Term Sheet is teaming up with Semaphore for its 16th annual confidence survey of private equity, venture capital, hedge fund, and other professionals. VENTURE DEALS - Bilt Rewards, a New York City-based rewards platform, secured $200 million in funding, while Ansel, a New York-based insurtech, raised $20 million. Albedo, a provider of high-resolution space imagery in Denver, raised $35 million from various investors. FUNDS + FUNDS OF FUNDS - Myriad Venture Partners in NYC raised $100 million for its AI, clean technology, and B2B software-focused fund, and LDV Capital secured $31 million for its fourth fund focusing on early-stage deep tech companies.

Staff Editor January 26, 2024

In the world of venture capital, the term “Unicorn” is as elusive as the mythical creature it’s named after. The moniker, used to describe a privately held startup company valued at over $1 billion, was first coined by Aileen Lee in 2013 as she embarked on her own entrepreneurial journey with Cowboy Ventures. Fast forward to today, and the Unicorn club continues to grow, shaping the landscape of the investment world.

Venture capital, private equity, hedge fund, and other financial professionals are constantly seeking the next big thing, and Semaphore’s 16th annual confidence survey aims to gauge their sentiments. The survey, in partnership with Term Sheet, provides valuable insights into the industry’s outlook and trends, shedding light on the ever-evolving market dynamics.

Amidst the hustle and bustle of the investment realm, significant funding rounds are making waves. Bilt Rewards, a New York City-based platform revolutionizing rent payments and neighborhood spending, secured a staggering $200 million in funding. Meanwhile, Ansel, an insurtech company hailing from the Big Apple, raised a commendable $20 million, further cementing its position in the competitive market. Not to be outdone, Albedo, based in Denver, Colorado, soared to new heights with a substantial $35 million funding round from a plethora of esteemed investors, including Booz Allen Ventures and Y Combinator.

As the investment ecosystem thrives, venture capital firms are also making waves with their fundraising endeavors. Myriad Venture Partners, based in New York City, successfully raised $100 million for its inaugural fund, focusing on AI, clean technology, and B2B software companies. Meanwhile, LDV Capital, another prominent player in the New York City venture capital scene, secured $31 million for its fourth fund, honing in on early-stage deep tech companies.

In the ever-dynamic world of finance and investment, these developments serve as a testament to the enduring allure of the Unicorn dream and the unyielding ambition of industry trailblazers. With each funding round and venture capital milestone, the narrative of innovation and disruption unfolds, setting the stage for the next chapter in the captivating saga of private equity and venture capital.