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Venture capitalists invested a record $288 billion in the first half of 2021

Venture capitalists invested $288 billion in the first half of 2021, an all-time record, per Crunchbase.

By the numbers: Venture capitalists invested $140 billion into U.S.-based startups in the first half of 2021, anall-time record, per Ernst & Young. At that pace, the 2020 total should be surpassed in a matter of days.


  • Venture capitalists sold $232 billion worth of tech startups in the first half of 2021, an all-time record, according to 451 Research (a unit of S&P Global Market Intelligence).
  • 410 companies went public on the Nasdaq in the first half of 2021, an all-time record, partially driven by an all-time record number of SPAC listings.
  • Buyout activity in the first half of 2021 hit an all-time record, including a whopping $126 billion for North American deals in Q2 alone, per Preqin.
  • Global M&A in the first half of 2021 topped $2.82 trillion, as we previously discussed, an all-time record.

All of this feeds on itself. For example, lots of VC exits lead to lots of VC deals, both because of animal spirits and structural reasons like fund recycling provisions.

  • Plus, Preqin reports that there was an all-time record 5,248 private equity and venture capital funds in market at the start of July, targeting $900 billion. That would be on top of an all-time record amount of existing dry powder in PE/VC funds.

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The Keystone XL pipeline is officially dead

The developer of the Keystone XL oil sands pipeline abandoned the project Wednesday after a decade-plus effort.

Why it matters: TC Energy's decision ends one of the century's highest profile battles over climate change and energy. But the move is unsurprising.

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Study: Delta coronavirus variant evades certain antibodies because of mutations

One dose of the Pfizer or AstraZeneca coronavirus vaccine "barely" protects against the Delta variant of the virus, because of mutations the variant has developed, according to a new study published in the journal Nature Thursday.

Why it matters: The study found that two doses of those vaccines generated a neutralizing response to the variant in 95% of people, highlighting the importance of full vaccination against COVID-19.

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Heat wave engulfs the West as Death Valley hits 130 degrees

About 30 million people are under excessive heat warnings or advisories as a heat wave sweeps the Western U.S., bringing potentially record-high temperatures on Sunday, according to the National Weather Service.

Why it matters: The heat wave comes after some regions in the Pacific Northwest saw temperature records shattered last month, with the same "heat dome" effect that is engulfing the West now, the New York Times reports. Human-caused climate change has exacerbated the frequency of these extreme heat events.

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Key administration posts remain vacant 6 months into Biden presidency

Nearly six months since his presidency began, Joe Biden's administration has yet to fill key leadership positions in a number of prominent agencies, the Washington Post reports.

Why it matters: Many of the empty positions are important to advancing the administration's agenda in areas such as the pandemic, voting rights, climate change and cracking down on corporations.

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