Ex-Founders Fund GP Brian Singerman Plots New Fund

Summer for venture capitalists used to be a time when dealmaking slowed down, as investors headed to the Italian Riviera or shifted their podcast recordings to a boat on Lake Tahoe. But that wasn’t the case last year, and it certainly isn’t shaping to be this year, either.

Google challenger Perplexity is in the middle of raising $500 million—or more—in a deal that would value it at $14 billion. Anthropic and the startup behind Cursor are reporting jumps in annualized revenue, which could attract more investors to offer term sheets.