VenCap Weekly Update - 29 August 2025

The latest news on VenCap's underlying portfolio companies.
VenCap Weekly Update - 29 August 2025
ByteDance plans $200 share buyback, pushing valuation past $330 billion ByteDance is preparing a new employee share buyback programme that would value the company at over $330 billion, according to Reuters. The company plans to offer current employees $200.41 per share, a 5.5% premium over the $189.90 offered in its previous buyback earlier this year, which valued the company at $315 billion. Despite ByteDance’s revenue outpacing Meta’s — $48 billion in Q2 versus Meta’s $47.52 billion — the Chinese tech giant still trades at under a fifth of Meta’s market value, largely due to geopolitical concerns. Annual revenue reached $155 billion in 2024, growing 29%, although that reflects a slowdown from the 40% growth rate in 2023 as the firm’s China operations decelerate. ByteDance is an underlying asset of VenCap 6, VenCap 10A, VenCap 11A, VenCap 12, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16 and VenCap 17.

Vercel raises new funding at $9B valuation amid surging AI adoption Vercel, the San Francisco-based cloud platform for building and deploying web and AI applications, is raising several hundred million dollars in new funding at a valuation of approximately $9 billion, up from $3 billion last year. The startup has seen rapid growth, recently surpassing $200 million in annual recurring revenue, a figure that doubled within just over a year thanks to increased adoption of its AI-powered development tools by major clients such as Netflix and Stripe. Vercel is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16 and VenCap 17.

Netskope publicly files S1 showing $707M ARR and 33% YoY growth Cloud security company Netskope will go public under ticker symbol NTSK in the next few weeks after publicly filing its S1. The firm crossed $707 million in annual recurring revenue (+33% YoY), $538 million in revenue (+32% YoY), and serves over 4,317 customers (+21% YoY) — including more than 30% of the Fortune 100. The company boasts a 118% net revenue retention rate and operates 120+ global data centers. Despite historically burning cash, Netskope has turned the corner on efficiency, shifting from a -42% to +3% operating cash flow margin in just six months. Netskope is an underlying asset of VenCap 6, VenCap 10A, VenCap 13A, VenCap 13B and VenCap 15.

Attio raises $52M Series B to accelerate AI-native CRM platform London-based CRM startup Attio has raised $52 million in Series B funding at an undisclosed valuation, bringing its total raised to $116 million. Attio plans to use the new capital to scale its engineering team, expand product development, and double down on go-to-market efforts. Unlike traditional CRMs, Attio is built from the ground up as an AI-native platform, enabling real-time intelligence, agent collaboration, and dynamic customization for GTM teams. The platform already serves startups like Lovable, Granola, Modal, and Replicate. Attio is an underlying asset of VenCap 6, VenCap 13B and VenCap 15.

Sources: Bloomberg, The Information, Tech.EU 

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VenCap International plc
VenCap International plc
Oxford, United Kingdom
Our mission at VenCap is to build a concentrated portfolio of venture funds from those VCs that consistently back the top 1% of companies and deliver strong and consistent performance to our investors. VenCap has committed USD 2.9 billion to this small group of top-tier VC’s in the US, Europe, China and India - our Core Managers. We work closely with the venture firms with whom we invest to provide insight and analytics that help inform their own decisions. We believe that this focus gives us a competitive advantage when it comes to identifying and accessing the best firms in the industry. VenCap was founded in 1987, and as such we are one of the longest-established investment management and advisory firms active in the VC industry today. We believe that venture capital is a long-term business that is based on strong personal relationships. We have been trusted to manage capital by many leading institutions and family offices across the world with whom we have developed strong and lasting relationships based on trust, transparency and authenticity. More information on our website: https://www.vencap.com/
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