In 2016 when Chime desperately needed cash, over 100 VCs said no. One seed VC, took a chance and saved the company, co-founder Ryan King recalls.

Since its founding in 2014, a16z Bio+ Health has raised four funds of nearly $3 billion each, including a $1.5 billion fund that closed in 2022.

After a multi-year IPO freeze, fintech companies like Chime are entering the public market with slashed valuations and tempered expectations.

In 2016 when Chime desperately needed cash, over 100 VCs said no. One seed VC, took a chance and saved the company, co-founder Ryan King recalls.

Lately, Felicis, like most VCs, has been all over AI. Its portfolio now includes, for example, Browser Use, Poolside, Runway, and Supabase.

Chime raises $864 mln with IPO, but management doesn’t sell shares.

Iconiq pursued Chime because the founders were focused, and didn’t get distracted by "shiny new objects."