CapitalG\u2019s Jill Chase\u2014who captained her college basketball team at Williams College\u2014says this logic actually applies to Alphabet\u2019s growth firm. When I ask her what basketball team is most like CapitalG, she lists the WNBA\u2019s Golden State Valkyries.\u00a0<\/p>\n
\u201cEverybody has a different skill set, and everybody is willing to drop anything to help each other win,\u201d said Chase. \u201cIt\u2019s a different person every night who wins the game. And I think that\u2019s really consistent with the way CapitalG is building its culture.\u201d<\/p>\n
For the first time since the firm was started in 2013, it\u2019s promoting two general partners, Chase and Alex Nichols, Fortune<\/em> has exclusively learned. Chase, who joined CapitalG in 2020 specifically with a thesis around AI, has backed Abridge, Baseten, Canva, LangChain, Physical Intelligence, and Rippling.\u00a0<\/p>\n Nichols, meanwhile, joined CapitalG in 2018 as an associate and was promoted to partner just two years ago. He previously worked with managing partner Laela Sturdy on the firm\u2019s investments in Duolingo, Stripe, and Whatnot, and recently led CapitalG\u2019s investment in Zach Dell\u2019s energy startup BasePower. At a moment where there\u2019s mounting angst around data centers and what it will take to power them, Nichols has a surprising take on how AI will affect energy\u2014that both batteries and solar are getting cheaper and better at something like Moore\u2019s Law speed. Those twin cost curves, over time, should actually drive energy prices down<\/em>.\u00a0<\/p>\n \u201cI\u2019m actually very optimistic about the future of energy prices,\u201d he said. \u201cYou look at the history of energy consumption versus GDP. And cheap energy means more production, more income, and means a higher standard of living.\u201d<\/p>\n At a moment when venture is perhaps more competitive than ever\u2014and there are certainly some solo GPs out there making their mark\u2014there\u2019s an argument that as lines blur between disciplines in an AI-ified world, venture is by necessity a team sport.\u00a0\u00a0<\/p>\n Sturdy\u2014who\u2019s been CapitalG\u2019s managing partner since 2023 (and also captained her college basketball team)\u2014and Chase both have clearly taken some learnings from their time on the court. Chase sees venture overall as becoming more team-oriented: \u201cHistorically, it used to be like \u2018you made general partner, go out and win your deal.\u2019 To me, that\u2019s not the right way to be successful in venture ever.\u201d\u00a0<\/p>\n Sturdy adds that in basketball, like venture, \u201cWe have to look at the scoreboard every once in a while, and you have to get back up when you get crushed\u2026 And, of course, coming together is better than playing alone.\u201d<\/p>\n Term Sheet Podcast\u2026<\/strong>This week, I spoke with Exelon CEO Calvin Butler. As resource-hungry data centers continue to sprout across the country, many are questioning whether the nation\u2019s utility network can keep pace with such large-scale demand. Butler says it can. Listen and watch here.<\/p>\n See you tomorrow,<\/p>\n Allie Garfinkle Joey Abrams curated the deals section of today\u2019s newsletter<\/em>.<\/em> Subscribe here.<\/p>\n – <\/span>humans&<\/b>, a San Francisco-based AI lab, raised $480 million in seed funding. <\/span>SV<\/b> Angel<\/b> and <\/span>Georges<\/b> Harik<\/b> led the round and were joined by <\/span>NVIDIA<\/b> and others.<\/span><\/p>\n – <\/span>Emergent<\/b>, a San Francisco-based platform designed for AI software creation, raised $70 million in Series B funding. <\/span>Khosla Ventures<\/b> and <\/span>SoftBank<\/b> led the round and were joined by <\/span>Prosus<\/b>, <\/span>Lightspeed<\/b>, <\/span>Together<\/b>, and <\/span>Y Combinator<\/b>.<\/span><\/p>\n – <\/span>Exciva<\/b>, a Heidelberg, Germany-based developer of therapeutics designed for neuropsychiatric conditions, raised \u20ac51 million ($59 million) in Series B funding. <\/span>Gimv<\/b> and <\/span>EQT<\/b> Life<\/b> Sciences<\/b> led the round and were joined by <\/span>Fountain<\/b> Healthcare<\/b> Partners<\/b>, <\/span>LifeArc<\/b> Ventures<\/b>, and others.<\/span><\/p>\n – <\/span>Pomelo<\/b>, a Buenos Aires, Argentina-based payments infrastructure company, raised $55 million in Series C funding. <\/span>Kaszek<\/b> and <\/span>Insight<\/b> Partners<\/b> led the round and were joined by <\/span>Index<\/b> Ventures<\/b>, <\/span>Adams<\/b> Street<\/b> Partners<\/b>, <\/span>S32<\/b>, and others.<\/span><\/p>\n – <\/span>Cloover<\/b>, a Berlin, Germany-based operating system designed for energy independence, raised $22 million in Series A funding. <\/span>MMC<\/b> Ventures<\/b> and <\/span>QED<\/b> Investors<\/b> led the round and were joined by <\/span>Lowercarbon<\/b> Capital<\/b>, <\/span>BNVT<\/b> Capital<\/b>, <\/span>Bosch<\/b> Ventures<\/b>, and others.<\/span><\/p>\n – <\/span>Statusphere<\/b>, a Winter Park, Fla.-based influencer marketing technology platform, raised $18 million in Series A funding. <\/span>Volition<\/b> Capital<\/b> led the round and was joined by <\/span>HearstLab<\/b>, <\/span>1984<\/b> Ventures<\/b>, and <\/span>How<\/b> Women<\/b> Invest<\/b>.<\/span><\/p>\n – <\/span>Dominion<\/b> Dynamics<\/b>, an Ottawa, Canada-based defense technology company, raised $21M CAD ($15.2M USD) in seed funding. <\/span>Georgian<\/b> led the round and was joined by <\/span>Bessemer<\/b> Venture<\/b> Partners<\/b> and <\/span>British<\/b> Columbia<\/b> Investment<\/b> Management<\/b> Corporation<\/b>.<\/span><\/p>\n – <\/span>Cosmos<\/b>, a New York City-based image collection and discovery platform, raised $15 million in Series A funding. <\/span>Shine<\/b> Capital<\/b> led the round and was joined by <\/span>Matrix<\/b> and others.<\/span><\/p>\n – <\/span>Mave<\/b>, a Toronto, Canada-based real estate AI company, raised $5 million in seed funding from <\/span>Staircase<\/b> Ventures<\/b>, <\/span>Relay<\/b> Ventures<\/b>, <\/span>N49P<\/b>, and <\/span>Alate<\/b> Partners<\/b>.<\/span><\/p>\n – <\/span>Stilla<\/b>, a Stockholm, Sweden-based developer of an AI designed to accommodate entire teams, raised $5 million in pre-seed funding. <\/span>General<\/b> Catalyst<\/b> led the round and was joined by others.<\/span><\/p>\n – <\/span>Asymmetric<\/b> Security<\/b>, a London, U.K. and San Francisco-based cyber forensics company, raised $4.2 million in pre-seed funding. <\/span>Susa<\/b> Ventures<\/b> led the round and was joined by <\/span>Halcyon<\/b> Ventures<\/b>, <\/span>Overlook<\/b> Ventures<\/b>, and angel investors.<\/span><\/p>\n – <\/span>ConnectWise<\/b>, backed by <\/span>Thoma<\/b> Bravo<\/b>, acquired <\/span>zofiQ<\/b>, a Toronto, Ontario-based agentic AI technology company designed to automate high-service desk operations. Financial terms were not disclosed.\u00a0<\/span><\/p>\n – <\/span>Grant<\/b> Avenue<\/b> Capital<\/b> acquired <\/span>21st<\/b> Century<\/b> Healthcare<\/b>, a Tempe, Ariz.-based vitamins, minerals, and supplements company. Financial terms were not disclosed.<\/span><\/p>\n – <\/span>Highlander<\/b> Partners<\/b> acquired <\/span>Tapatio<\/b>, a Vernon, Calif.-based hot sauce brand. Financial terms were not disclosed.\u00a0<\/span><\/p>\n – <\/span>Platinum<\/b> Equity<\/b> acquired <\/span>Czarnowski<\/b> Collective<\/b>, a Chicago, Ill.-based exhibit and events company. Financial terms were not disclosed.<\/span><\/p>\n – <\/span>United<\/b> Building<\/b> Solutions<\/b>, backed by <\/span>AE<\/b> Industrial<\/b>, acquired <\/span>DFW<\/b> Mechanical<\/b> Group<\/b>, a Wylie, Texas-based HVAC solutions company. Financial terms were not disclosed.<\/span><\/p>\n – <\/span>PicPay<\/b>, a Sao Paolo, Brazil-based digital bank, now plans to raise up to $435.1 million in an offering of 22.9 million shares priced between $16 and $19 on the Nasdaq. The company posted $1.7 billion in revenue for the year ended September 30. <\/span>J&F International<\/b> and <\/span>Banco<\/b> Original<\/b> back the company.<\/span><\/p>\n – <\/span>Ethos<\/b> Technologies<\/b>, a San Francisco-based online life insurance provider, plans to raise up to $210 million in an offering of 10.5 million shares priced between $18 and $20. The company posted $344 million in revenue for the year ended Sept. 30. <\/span>General<\/b> Catalyst<\/b>, <\/span>Heroic<\/b> Ventures<\/b>, <\/span>Eric<\/b> Lantz<\/b>, and others back the company.<\/span><\/p>\n – <\/span>Blueprint<\/b> Equity<\/b>, a La Jolla, Calif.-based growth equity firm, raised $333 million for its third fund focused on enterprise software, business-to-business, and tech-enabled services companies.<\/span><\/p>\n – <\/span>Area 15 Ventures<\/b>![\"Fortune](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2025\/07\/termsheet_16x9_v02-YTButtonLeft.jpg?format=webp&w=1440&q=100\"\/)
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Email:<\/strong> alexandra.garfinkle@fortune.com
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