Netscape Pioneer Forms Venture Cap Fund

Venture capitalist thinks it will be the new tech hub

(USER SUBMITTED) - In an interview in GigaOM , veteran NYC-based venture capitalist Fred Wilson is bullish on New York City as the next major center of technological innovation. He says that Internet companies based in the city are being flooded with venture capital at the same magnitude as Silicon Valley start-ups. More»

(USER SUBMITTED) - So much to choose from; such a short list. Weighing in as the heavyweight champion of all time among venture capitalist bombs—Webvan, the brain-dead effort to use the Internet and a series of high-tech warehouses to deliver low-margin groceries. But at least there was a there there. More»

(NEWSER) - Facebook’s recent deal to let employees sell some of their stock to private investors has sent Silicon Valley scrambling, as workers at other start-ups ask for similar deals, the Wall Street Journal reports. Start-ups rely on the promise of future stock sales to lure and retain talent, but with the market upheaval scaring most companies away from public offerings, employees are getting restless. More»

Details hushed on RockMelt project

(NEWSER) - Stung but not discouraged by Netscape's loss to Internet Explorer in the browser battles of the 1990s, Netscape’s founder is getting back in the game, the New York Times reports. Marc Andreessen is funding a startup called RockMelt, which is developing a new browser of its own. “We have backed a really good team,” says Andreesen, now a Silicon Valley financier. More»

Investments will be in non-Internet fields

(NEWSER) - Google will launch a venture capital fund next year with an initial capitalization of about $100 million, reports the Wall Street Journal. Unlike other corporate funds that back companies in their own industries, Google Ventures will look beyond the Internet to also invest in biotech, health care, and environmental technology. The fund managers say they are looking to “find young companies with truly awesome potential.” More»