Fund

• PayPal shares rose 3.85% to reach $44.82, driven by strong intraday momentum and increased demand from midcap funds following index rebalancing. • The stock is currently experiencing a baseline scenario of sideways movement, though it shows potential for further upside. • Technical analysis indicates that a break above $46.59 would confirm persistent short-term momentum, while a drop below $43.49 could signal a correction.

• London-based Tapestry VC has launched Fund III with a total of €70 million ($80 million), co-anchored by the British Business Bank. • The new fund aims to double the firm's scale and specifically target repeat founders at the Seed and pre-Seed stages in Europe. • This strategy follows a 100% "graduation" rate for recent serial founder bets, with companies like Sunrise Robotics, Maze AI, Tracebit, and Requesty AI securing €100 million Series A rounds or acquisition offers.

• London-based Tapestry VC has closed its third fund, securing $80 million to invest in experienced European entrepreneurs. • The firm is specifically targeting "repeat founders," betting that the current wave of AI-driven exits will create a new generation of seasoned leaders. • This strategic focus aims to leverage the expertise of founders who have previously scaled companies or navigated successful exits.

• Aligned has raised $60 million in a Series B funding round led by PeakSpan Capital, with participation from Hetz Ventures, JAL Ventures, and NFX. • This latest investment brings the company's total funding to date to $73.8 million. • The funds will be used to develop an AI-native collaborative dealmaking platform designed to streamline and organize the often chaotic process of B2B enterprise sales execution.

• Tapestry VC, a backer of Nothing and Hopin, has launched an $80 million Fund III specifically targeting repeat founders in Europe. • The fund launch follows the $3.6 billion acquisition of Fin by Salesforce, signaling a strategic shift toward the next generation of AI and SaaS companies. • This move comes as the market for AI customer-service agents becomes highly competitive, with rivals like Bret Taylor's Sierra reaching a $15.8 billion valuation.

• India is accelerating its technological infrastructure by prioritizing the development of AI chips and quantum computing capabilities. • In the startup and corporate sector, Brekfuz successfully raised new funding, while OpenClaw announced the launch of its AI agents. • Former President Donald Trump has officially reported earnings from cryptocurrency, highlighting the intersection of politics and digital assets.

• EU prosecutors conducted raids on Tuesday across France, Belgium, Spain, and Italy to investigate the potential embezzlement of European Union funds. • The probe focuses on the former Identity and Democracy (ID) right-wing political bloc, which is suspected of misappropriating approximately $5 million. • This action marks a significant judicial advance in tracking the misuse of public funds by a group that was disbanded in 2024 and replaced by the Patriots for Europe.

• European Union Allowance (EUA) prices have dropped significantly, falling from approximately €90/tCO2e in January to below €65/tCO2e by March. • This price decline is primarily driven by market uncertainty surrounding the upcoming reform of the EU Emissions Trading System (EU ETS). • The volatility matters for fund managers as it impacts the cost of carbon permits that companies must hold to cover their CO₂ emissions.

Culture secretary, Lisa Nandy, launches consultation on first changes to system in more than two decadesThe government is to review the future of the national lottery for the first time in more than 20 years as the culture secretary, Lisa Nandy, promised to give the public a greater say in how billions of pounds raised by ticket sales is spent.“The national lottery is played by millions of people every single week. It is not just public money, it is literally the public’s money and they must be in the driving seat of how it is spent,” said Nandy. Continue reading...

Robert Jenrick and MP for Lincoln among those whose constituencies could be hit by cuts to road infrastructure plansThe MP for Lincoln and the Middle East minister, Hamish Falconer, and the Reform MP Robert Jenrick have voiced anger at the cancellation or delay of key transport infrastructure projects to fund the defence investment plan.Falconer and Jenrick were among MPs who have had cuts to road improvements in their constituencies, with savings contributing towards the increase in defence spending. Two roads in the East Midlands are among those where investment cuts have been made to fund a £15bn uplift in defence. Continue reading...

• The European Commission's €5 billion tech fund has yet to make a single investment despite its stated commercial mission. • Sweden's EQT was selected to manage the vehicle, winning the final round over the UK-based firm Atomico, while France's Eurazeo was eliminated earlier. • The situation has sparked tension between France and the UK, highlighting how national interests may complicate the fund's operational goals.

• European private equity investment in local AI companies reached $6.8 billion in 2025, according to an analysis by Brad Adams. • The surge is driven by a strategic shift to provide the large-scale, late-stage funding necessary for AI scale-ups to sustain growth. • This development addresses a historical gap where European investors lacked funds large enough to support major follow-on rounds.

• Prosecutors have launched coordinated raids across France, Spain, Italy, and Belgium to investigate the alleged misuse of European Parliament funds. • The probe targets the defunct far-right Identity and Democracy (ID) group, focusing on how public funds were allocated and spent. • This action highlights ongoing efforts by EU authorities to ensure financial transparency and accountability among political factions within the European Parliament.

• EU prosecutors have conducted raids across France, Spain, Italy, and Belgium to investigate the alleged misappropriation of European Parliament funds. • The probe targets the now-defunct Identity and Democracy (ID) group, which included MEPs from France’s National Rally, Italy’s League, and Germany’s AfD. • This investigation is significant as it scrutinizes the financial conduct of prominent Eurosceptic parties within the EU's legislative body.

• The global space research funding has surpassed $130 billion annually, making 2026 one of the most heavily financed years in space exploration history. • Notable growth is seen in companies like Starlink, with subscriber counts increasing from 2.3 million in 2023 to 10.3 million by Q1 2026. • This increase in funding and growth can be attributed to rising attention on Moon missions, space stations, climate-monitoring satellites, and defense-related space systems.

• Chinese hedge funds have issued warnings that the current artificial intelligence "super bubble" could potentially burst by 2026. • The alert highlights growing concerns over whether AI valuations are sustainable, creating new risks for global financial markets and tech investors in South Africa. • This warning matters as it suggests a potential correction in the massive capital inflows and soaring stock prices driven by AI optimism.

• The Supreme Court struck down Watergate-era limits on campaign funds for political parties, ruling that such funding is protected free speech under the First Amendment. • This decision follows a recent conservative court ruling regarding the Voting Rights Act, which allowed Republican-controlled Southern states to redraw congressional districts. • The combined legal victories are expected to provide a significant election-year boost for the GOP, potentially flipping several seats in Louisiana, Alabama, Tennessee, and Florida.

The prime minister unveiled his long-awaited defence investment plan on Tuesday after months of delaysKeir Starmer warned his successor not to borrow more to pay for defence as he raided energy, transport and housing projects to pay for a £15bn military spending plan.The prime minister revealed his long-awaited defence investment plan (Dip) on Tuesday after an 11-month government row that cost him his defence secretary and arguably contributed to his downfall. Continue reading...

• The Bank for International Settlements (BIS) issued a warning in its Annual Economic Report on June 28, 2026, regarding the financial risks associated with the AI boom. • Central bankers are specifically concerned about a "quiet shift" in how major AI companies are financing the construction and operation of massive data centers. • The watchdog warns that these funding methods could create systemic financial instability if the expected returns on AI investments fail to materialize.

Founder of Maternity Safety Alliance says recommendation in Amos report will not solve wider cultural problemsThe appointment of a national maternity commissioner would be “fundamentally dangerous”, a bereaved mother who founded a maternity safety campaign group has warned.Emily Barley, whose daughter Beatrice died because of failings at Barnsley hospital in 2022, told BBC Radio 4’s Today programme that the recommendation for a maternity commissioner in England in the Amos review was “not going to do what we need to move maternity safety forwards”.Maternity triage services – the childbirth equivalent of A&E – need an urgent overhaul, including more staff on duty, so that women’s concerns are acted on more quickly.Families should get the right to seek a fresh, independent investigation when things go wrong if they are not happy with the hospital’s own inquiry.The NHS’s “brutal” and “cruel” system of agreeing compensation with harmed and bereaved families should be replaced by a new process in which hospitals admit errors immediately.The NHS must root out racism and discrimination that is “embedded throughout the maternity and neonatal system”. Continue reading...

Christopher Harborne, who also gave Nigel Farage £5m ‘gift’, reported to have registered to vote in HampshireChristopher Harborne, the Thailand-based crypto investor who has given millions of pounds to Reform UK, would be unlikely to get around a planned cap on overseas political donations even if he has registered to vote in the UK, it is understood.Harborne, who also gave Nigel Farage, the Reform leader, £5m as a “gift”, has registered to vote in Hampshire, the Times reported, with a spokesperson for the billionaire quoted in the paper saying that he had decided to become a “registered voter in the UK”. Continue reading...

• Chinese hedge funds have issued warnings that the artificial intelligence sector may be entering a "super bubble," signaling a high risk of a major market crash. • Analysts suggest that if a market correction occurs, some AI-related stocks could experience drastic price drops of up to 80%. • This caution stems from a growing divergence between the rapid appreciation of stock prices and the actual underlying value of the technology.

• Sovereign Wealth Funds (SWFs) are shifting their investment strategies away from public stock markets and toward private credit and infrastructure. • This transition is driven by a desire to capitalize on the AI boom and a need to diversify portfolios due to high concentration in public equities. • National security concerns are also influencing these moves, prompting funds to seek more controlled, private asset classes.

• India's AI progress is currently hindered by a significant funding gap in research and development (R&D) and limited capital for startups. • The country's gross expenditure on R&D is only 0.64% of GDP, trailing far behind China (2.6%) and the US (3.6%), with private industry contributing only 36% of total R&D funds. • This disparity highlights a systemic reliance on public funding compared to the US, China, and South Korea, where private sector investment exceeds 70%.

• EIFO has committed a €200 million anchor investment to EQT's €5 billion Scaleup Europe Fund. • The initiative aims to close Europe's late-stage funding gap and prevent high-growth tech companies from relocating to the US for larger investment rounds. • This move addresses a critical trend where only six of 14 Danish-founded unicorns since 2000 have remained in Denmark or Europe.

• Senate Democrats, led by Senator Cory Booker of New Jersey, are demanding more information and a hearing regarding a $1.8 billion "anti-weaponization" fund. • The group alleges that the Justice Department may have violated internal policies by agreeing to create the fund as part of a settlement with President Trump. • The inquiry is directed at Acting Attorney General Todd Blanche to determine the legality and procedural validity of the controversial program.

• Artificial intelligence dominated the largest U.S. startup funding rounds this week, with AI companies securing the majority of the top 10 deals. • The week's most significant financing event was a $1.5 billion Series F round for Baseten, a provider of AI inference technology. • Biotech emerged as the second-largest sector for venture capital investment, though it trailed significantly behind the AI spree.