MDT Ventures Closes Fund III & IV at $570 Million, Exceeding $525 Million Target 11-26-2024 11:50 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: Brand Push MDT Ventures is a Chicago-based early growth stage venture capital fund launched in 2016 by a team of professionals with over 100 years of combined experience in the industry. Image: https://www.getnews.info/uploads/caa388160f1c0618c7d4049b7b8cc083.png The Chicago-based early growth stage venture capital fund MDT Ventures [ https://www.mdtventures.com/ ] has announced the successful closure of its third and fourth rounds of funding, noting both rounds were substantially oversubscribed and closing its hard cap while surpassing the $525 million target. The team pointed out that MDT Fund III closed at $480 million and will continue their investment thesis while expanding into the ESG or environmental, social, and governance space. MDT Fund IV, Chicago Diversity Growth Fund, closed at $90 million and will provide underrepresented founders with equity and resources to expand innovation and economic opportunity while creating additional jobs in Chicago in the technology, healthcare, and real estate sectors. Founder Michael Thompson stated that as a "diverse founder and business owner, I understand the hurdles and constraints these founders and businesses face to run their operations in this economy." "MDT is excited to begin making more significant investments in our hometown of Chicago," the founder added. "None of this is possible without the unwavering support of our investors and limited partners. We are excited to provide strong returns to our investors while embracing our key mission and values." The four pillars of the MDT Ventures investment criteria include a proven management team, differentiated products or services, plus capital efficiency and the immense desire for growth. The MDT Ventures [ https://www.mdtventures.com/ ] team has been in the industry for over 15 years, combining over 100 years of experience in its team of over half a dozen employees. Their primary focus remains on equity investments in companies that have a clear dynamic growth potential, mainly highly scalable business in technology and service areas. The company explained how they invest in many industry types but have developed a preference for education, healthcare, technology, financial services, and logistic supply chains over their past eight years of operation since the official 2016 launch. "Our company serves as a strategic partner to entrepreneurs who are dedicated to building world-class companies that are scalable and durable," an MDT Ventures representative stated. "As investors, we show our commitment to the business by becoming an extension of their team and by using our resources and experience to propel them to the next level of growth. We invest in entrepreneurs who have a vision, plan, and motivation." Image: https://www.getnews.info/uploads/9e7fa89f2730b1677f2eaacd40364872.jpg MDT Ventures was founded [ https://www.mdtventures.com/about-us/ ] in 2016 by Michael Thompson, who is responsible for overseeing the firm's investment sourcing, valuation, transaction structuring, and securing of acquisition financing. Four years ago, MDT Ventures closed its second round of funding with $170 million, once again surpassing its target, which was then set to $150 million. The reports at the time said that the company had fully entered "a new league." Thompson commented in 2020, "We're looking forward to leading rounds of funding now as opposed to just being a participant." The team is now moving up to another league again, highlighting how excited the team is to get to work doing what they do best, which is helping build world-class companies and providing our investors with strong returns. More information about MDT Ventures, their latest investments and the overall business approach can be found on the official website [ http://mdtventures.com/ ]. The company also retains an active presence through its official social media channels, including LinkedIn [ https://www.linkedin.com/company/mdt-ventures/ ], X, and Instagram. Media Contact Company Name: MDT Ventures Contact Person: Cathy Smith Email: Send Email [ http://www.universalpressrelease.com/?pr=mdt-ventures-closes-fund-iii-iv-at-570-million-exceeding-525-million-target ] Country: United States Website: https://www.mdtventures.com/ This release was published on openPR.What we know about the US-brokered truce ending Israel-Hezbollah fighting
Georgia quarterback Carson Beck announced Saturday that he will forgo his final year of eligibility and enter the 2025 NFL Draft. Beck, 22, led the Southeastern Conference with 28 touchdown passes and finished third in the SEC with 3,485 passing yards. He also led the conference in interceptions, however. Beck will be a spectator for the Bulldogs in the College Football Playoff after undergoing surgery Monday to repair the ulnar collateral ligament in his right (throwing) elbow. Gunner Stockton is in line to guide No. 2 seed Georgia into the CFP, starting with the Bulldogs' quarterfinal game against No. 7 seed Notre Dame at the Sugar Bowl on Wednesday in New Orleans. "There's unfinished business still this season and I'll be here to support however I can, finish strong!" Beck said in a statement posted on social media. Beck, a fifth-year senior, finished with a 24-3 record in his career with Georgia. "The past five years at the University of Georgia have been nothing short of a dream come true and I will forever cherish the memories that have been made. Thank you Dawg Nation for the time I've been here and to those who've supported and believed in me, thank you," Beck wrote on social media. "It's been an incredible journey and all these moments have ultimately led me to take the next step in my football career. With that being said, I will be declaring for the 2025 NFL Draft. Go Dawgs!" Beck, the Bulldogs' starter all year, was replaced in the second half of the SEC title game with the injury. Stockton helped to guide the Bulldogs to a 22-19 overtime win over Texas and clinch a first-round bye in the first 12-team playoff. --Field Level Media
The United States and China have renewed a decades-old agreement on science and technology cooperation , officials from both countries said Friday, narrowing its scope and adding safeguards to address concerns about national security risks. The Science and Technology Agreement, originally signed in 1979, was the first accord between the two countries after they normalized diplomatic relations. It had historically been renewed roughly every five years, but U.S. lawmakers have raised concerns in about it recent years as China becomes a growing technological rival. The agreement, which was up for renewal in 2023, received two six-month extensions before lapsing on Aug. 27 of this year, and its continuation had been under negotiation for months. The State Department said Friday that the “modernized and strengthened” agreement had been extended for five years. It said the agreement sustains intellectual property protections, establishes new guardrails for protecting the safety and security of researchers, and “advances U.S. interests through newly established and strengthened provisions on transparency and data reciprocity.” The agreement covers only basic research and does not facilitate the development of critical and emerging technologies, the department said. The Biden administration has imposed export controls on advanced semiconductor chips and restricted investment in other strategically sensitive fields in China such as artificial intelligence and quantum computing, citing concerns that such technologies could aid China’s military modernization. The renewal of the agreement was also confirmed in a short statement Friday by the Chinese Ministry of Science and Technology, which did not provide details. Supporters of the pact argued that failure to renew it would not only imperil government-to-government collaboration in vital areas such as climate change and public health, but also inhibit academic cooperation between the world’s two biggest economies. Science and technology cooperation has already been chilled by the China Initiative, a Trump-era national security program meant to counter intellectual property theft at universities and research institutions. The program, which has prompted multiple prominent Chinese researchers to leave the U.S., ended in 2022 after a string of failed prosecutions. Asian American advocacy groups said ethnic Chinese scientists were unfairly targeted by the program, which House lawmakers are seeking to revive . NBC News' Rae Wang contributed. This story first appeared on NBCNews.com. More from NBC News:
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