• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersTerm Sheet

Why PayPal mafia alum and top VC Keith Rabois is ‘excited’ about Ron DeSantis

Anne Sraders
By
Anne Sraders
Anne Sraders
Down Arrow Button Icon
Anne Sraders
By
Anne Sraders
Anne Sraders
Down Arrow Button Icon
September 9, 2022, 8:35 AM ET
VC Keith Rabois is ‘excited’ about Ron DeSantis,
VC Keith Rabois is ‘excited’ about Ron DeSantis,David Paul Morris—Bloomberg/Getty Images
Add Fortune on Google for similar content.

Good morning, Term Sheet readers. Finance writer Anne Sraders here. 

You’ve probably heard rumors about a certain Florida governor potentially taking on former President Donald Trump in a possible 2024 presidential bid—I’m talking, of course, about Ron DeSantis. The Republican governor of Florida has skyrocketed into national recognition over recent years for his immoderate and controversial stances on a variety of issues—from criticizing mask usage during the COVID-19 pandemic to banning teachers from discussing sexual orientation and gender identity in schools with students in certain grades. His proponents argue he’s particularly pro-business, prioritizing keeping businesses open during the pandemic and eschewing public health guidelines. (Neither DeSantis nor any other candidates have announced a presidential run yet for 2024.) 

He’s managed to attract the backing of a powerful business and finance crowd with those stances, as well as his anti-“woke” agenda—which includes billionaires like hedge fund manager Paul Tudor Jones and hedge fund Citadel founder and CEO Ken Griffin, who have donated to his reelection campaign, as I explored in my latest feature.

Unsurprisingly, DeSantis has also got some in the Miami tech and business scene excited, like PayPal mafia alum and venture investor Keith Rabois, a general partner at the Founders Fund. Over the years, Rabois has invested in heavy-hitters like Airbnb, Stripe, and Affirm. 

An outspoken conservative, Rabois recently told me that while “everybody’s just waiting to see who runs” and “there’s no reason to make a decision until you know who the candidates are,” he’d be “excited” about DeSantis as president—as well as Florida senators Marco Rubio or Rick Scott, or Miami Mayor Francis Suarez as president, arguing any of those “would have a lot of support across the board from tech and business community leaders in Florida.” (Rabois also singled out former governor of South Carolina Nikki Haley and Arkansas Senator Tom Cotton as “top-tier candidates.”) 

However DeSantis has also taken aim at the investment management industry, targeting ESG-focused investing, which takes into account environmental, social, and governance factors, in a ban for State Board of Administration (SBA) fund managers to consider ESG when investing. The anti-ESG stance broadly has irked big players in the space, like BlackRock, the world’s largest money manager, which sent a letter this week to attorneys general in multiple states, pushing back on claims the attorneys general recently made about their practices.

But Rabois, for one, isn’t dissuaded: “ESG investing is a fraud,” he opined, so “if politicians want to reflect our views, we’re certainly not going to be opposed to that.” 

As an executive and investor himself, Rabois told me he cares about U.S. competition with China, small business and education recovery from the pandemic, and the “anti-tax and anti-regulation base of Florida” that “promotes” business and “successful jobs”—all among a “portfolio of issues” he argues DeSantis could use to contrast himself to others. 

Dig into what other business types are saying about DeSantis, and how he might measure up to Trump in a hypothetical 2024 primary, in my story here. 

That’s all for now. Have a good weekend. 

Anne Sraders
Twitter: @AnneSraders
Email: anne.sraders@fortune.com
Submit a deal for the Term Sheet newsletter here.

Jackson Fordyce curated the deals section of today’s newsletter.

VENTURE DEALS

- Mysten Labs, a Palo Alto-based Web 3 infrastructure company and developer of the Sui Layer 1 blockchain, raised $300 million in Series B funding. FTX Ventures led the round and was joined by investors including a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, O’Leary Ventures, and others. 

- Arize AI, a Berkeley, Calif.-based machine learning observability company, raised $38 million in Series B funding. TCV led the round and was joined by investors including Battery Ventures, Foundation Capital, and Swift Ventures.

- Hebbia, a New York-based search engine platform, raised $30 million in Series A funding. Index Ventures partner Mike Volpi led the round and was joined by investors including Yahoo founder and CEO Jerry Yang, and investor Ram Shriram. 

- SaaS Alerts, a Wilmington, N.C.-based cybersecurity company for managed service providers, raised $22 million in funding from Insight Partners. 

- SteelEye, a London-based compliance technology and data analytics firm, raised $21 million in Series B funding. Ten Coves Capital led the round and was joined by investors including Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and others. 

- Realtime Robotics, a Boston-based collision-free, autonomous motion planning company for industrial robots, raised $14.4 million in additional funding led by Soundproof Ventures, Heroic Ventures, and SIP Global Partners. 

- Gameplay Galaxy, a San Francisco-based decentralized gaming ecosystem, raised $12.8 million in seed funding. Blockchain Capital led the round and was joined by investors including Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games, and Hustle Fund.

- Netspeak Games, a remote-based games studio, raised $12 million in Series A funding. Lakestar and Project A led the round and were joined by investors including Makers Fund and other angels. 

- Harmonic Discovery, a New York-based kinase drug discovery therapeutics company, raised $8 million in funding. Innovation Endeavors led the round and was joined by investors including Fifty Years, Y Combinator, Boom Capital, Caffeinated Capital, and other angels.

- Newsbridge, an Amsterdam-based A.I. and cloud media company, raised €7 million ($6.97 million) in Series A funding. Supernova Invest led the round and was joined by investors including Elaia Partners and angel investor Dominique Edelin.

- Edda, a Paris-based collaborative software company for investors, raised $5.8 million in funding. Mucker Capital, Plug&Play, FJ Labs, Tony Fadell’s Future Shape, and angel investor Arnaud Bonzom invested in the round. 

- Velaris, a London-based customer success platform for B2B tech, raised £4.7 million ($5.4 million) in seed funding. Octopus Ventures led the round and was joined by investors including Zaka and Fintech 365.

- Millie, a Berkeley, Calif.-based maternity clinic, raised $4 million in seed funding. TMV Ventures and BBG Ventures led the round and were joined by investors including Venn Growth Partners, Looking Glass Capital, Learn Capital, Hustle Fund, and other angels.  

- ​​Hilma, a Boston-based running shoe brand, raised $3 million in seed funding. Brand Foundry Ventures led the round and was joined by investors including former Nike president and former CEO of Banana Republic Jeanne Jackson, Rothy’s co-founder and president Roth Martin, and other angels. 

- Remento, a Los Angeles-based conversation prompts library app, raised $3 million in seed funding. Upfront Ventures led the round and was joined by other angels. 

- Smoothie, a New York-based Web3 discovery platform, raised $1.2 million in funding. Former Coinbase CTO Balaji Srinivasan, Youbi Capital, LongHash Ventures, Ghaf Capital, King River Capital, Cyberconnect, Stateless Ventures, and others invested in the round. 

- Bits Technology, a Stockholm-based financial services integration platform, raised €1 million in pre-seed funding. Cherry Ventures led the round and was joined by investors including Alliance Ventures, Forward VC, Greens Ventures, and other angels. 

PRIVATE EQUITY

-  Petra Capital Partners and Patriot Capital acquired a majority stake in Shipley Associates, a Kaysville, Utah-based business development consulting firm. Financial terms were not disclosed. 

- SK Capital recapitalized Techmer PM, a Clinton, Tenn.-based materials design company with a majority stake from Gryphon Investors. Financial terms were not disclosed.

EXITS

- Charlesbank Capital Partners and Motive Partners acquired a majority stake in Accordion, a New York-based private equity-focused financial and technology consulting firm, from FFL Partners. Financial terms were not disclosed. 

OTHER

- Roche agreed to acquire Good Therapeutics, a Seattle-based protein therapeutics developer that responds to specific markers, for $250 million. 

- Mullen Automotive acquired a majority stake in Bollinger Motors, a Oak Park, Mich.-based EV truck startup, for $148.2 million.  

- Headspace Health acquired the Shine app, a New York-based mental health and wellness support platform. Financial terms were not disclosed.

- Metadata.io acquired Reactful, a Santa Barbara, Calif.-based web optimization and personalization platform for digital marketers. Financial terms were not disclosed.

- SharpLink Gaming agreed to acquire SportsHub Games Network, a Minneapolis-based fantasy and sports game provider. Financial terms were not disclosed. 

- Wealth Enhancement Group acquired Pinnacle Private Wealth, a Burlington, Mass.-based wealth advisory firm. Financial terms were not disclosed.

IPOS 

- Britannica Group, the Chicago-based publisher of the Merriam-Webster dictionary and encyclopedia, is weighing an initial public offering as soon as next year, according to Bloomberg. A deal could be valued at more than $1 billion.

FUNDS + FUNDS OF FUNDS

- Bessemer Venture Partners, a San Francisco-based venture capital firm, raised $4.6 billion across two funds. The firm raised $3.85 billion for its twelfth fund focused on seed and early-stage investments across sectors and geographies, and $780 million for its BVP Forge fund focused on growth buyout and minority deals in software and tech-enabled services businesses.

- Ardian, a Paris-based private investment house, raised $2.1 billion for a fund focused on mid-market U.S. and other OECD American infrastructure assets in the telecommunications, transportation, and energy transition sectors.

- PowerPlant Partners, a Hermosa Beach, Calif.-based investment firm, raised $330 million for its third fund focused on sustainable growth stage consumer-facing brands. 

- Glasswing Ventures, a Boston-based venture capital firm, raised $158 million for its second fund focused on seed stage enterprise and security startups. 

PEOPLE

- Cherry Ventures, a Berlin-based venture capital firm, promoted Max Brückner to principal. 

- Financial Services Capital, a London-based private equity investor, hired Kirstyn Lowry-Corry as financial director. Formerly, she was with Montagu Private Equity. 

- Francisco Partners, a San Francisco-based investment firm, hired Ashley Evans as partner. Formerly, she was with Carlyle Group.

- Levine Leichtman Capital Partners, a Beverly Hills-based private equity firm, hired William Trevelyan Thomas as a director in the firm’s investment management group. Formerly, he was with Charterhouse Capital Partners. 

This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox.

About the Author
Anne Sraders
By Anne Sraders
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

A test of Anduril's Altius drone.
NewslettersTerm Sheet
Defense tech could be entering its awkward teenage years. Is the boom a bubble?
By Allie GarfinkleJuly 2, 2026
38 minutes ago
The true cost of Donald Trump’s $2.2 billion year
NewslettersCEO Daily
The true cost of Donald Trump’s $2.2 billion year
By Diane BradyJuly 2, 2026
1 hour ago
Meta CEO Mark Zuckerberg (left) and CTO Andrew "Boz" Bosworth in Menlo Park, California, on Wednesday, Sept. 17, 2025. (Photo: David Paul Morris/Bloomberg/Getty Images)
NewslettersFortune Tech
Meta prepares to join the cloud infrastructure fray
By Andrew NuscaJuly 2, 2026
1 hour ago
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
NewslettersCIO Intelligence
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
By John KellJuly 1, 2026
19 hours ago
Exclusive: A VC firm backed by Melinda French Gates just closed a $46 million fund to invest in caregiving
NewslettersMPW Daily
Exclusive: A VC firm backed by Melinda French Gates just closed a $46 million fund to invest in caregiving
By Emma HinchliffeJuly 1, 2026
20 hours ago
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersCEO Daily
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
1 day ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
1 day ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
23 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.