Scott Raney, managing director at Redpoint Ventures, explains that the creation of a startup visa allowing foreign-born entrepreneurs to more easily start companies in the US is important because "a key limit on innovation in our economy is the availability of talent, and we should be doing everything we can to address this limitation." Sophie Alcorn, founding partner of Alcorn Immigration Law, says the startup visa proposed by Rep. Zoe Lofgren, D-Calif., "would open up an amazing door for international founders."

Special-purpose acquisition company TPG Pace Solutions will take vacation rental startup Vacasa public through a merger that gives the company a $4.5 billion valuation. The transaction will leave the startup's current investors with an 88% stake in the company.

Special-purpose acquisition company Atlas Crest Investment has revised the terms of its deal to take electric aircraft startup Archer public through a merger. Archer's enterprise value has been reduced by $1 billion to $1.7 billion, the two companies said.

Varda Space Industries, a startup that aims to establish a manufacturing facility in space, raised $42 million in its Series A funding round. With the new capital the company hopes to have its first manufacturing facility operating in space as early as 2023.

Special-purpose acquisition company Bright Lights Acquisition is in talks to take Manscaped, a startup focused on men's grooming products, public through a merger, sources said. Under the terms reportedly being discussed, the merged entity would be valued at about $1.4 billion.

Arc Boat, a startup that makes 475-horsepower pleasure boats that sell for about $300,000 each, raised $4.25 million in its seed round. The company aims to have its first model, the Arc One, ready to sell by the end of this year.

India's Oyo is in advanced talks over a possible investment from Microsoft that would give the hotel startup a $9 billion valuation, sources said. Earlier this month founder and CEO Ritesh Agarwal said the company would be receptive to an initial public offering.

Neuralink, a startup backed by Elon Musk that aims to use implanted wireless computer chips to treat a range of neurological illnesses and injuries, raised $205 million in a funding round that included an investment from Google Ventures. The company will use the new capital for research and development, and to take its initial product to market.

Deep Genomics, a Canadian biotech startup that uses artificial intelligence to develop drugs, raised $180 million in a Series C funding round that included investments from SoftBank Vision Fund 2 and the Canadian Pension Plan Investment Board. The company will use the new capital to further develop its AI drug discovery platform and take some of its projects to clinical testing.

During the first half of this year, eight Georgia venture capital funds brought in $439 million of new capital, according to PitchBook and the National Venture Capital Association's Venture Monitor report for the second quarter. Over the same period Georgia startups received nearly $2 billion of new venture capital.

Joining NVCA is the best way to advance public policy that fosters a healthy environment for high-growth startups and to engage on the policy and industry issues that are important to VCs and your portfolio companies, including: immigration reform that welcomes qualified immigrant entrepreneurs; tax reform that promotes entrepreneurship and capital formation; making public markets work for small cap companies again; and smarter regulations for the startup economy. Become a member today.

Venture Forward (NVCA's supporting 501(c)(3) nonprofit) recently celebrated its one-year anniversary! To reflect on the inaugural year of positive influence on the venture ecosystem, Venture Forward released its first impact report this week. The Venture Forward 2021 Impact Report highlights the impact of several flagship programs and initiatives. Venture Forward's work is important to NVCA's advocacy efforts showing policymakers how the industry is striving to advance a more diverse, equitable, and inclusive ecosystem, through programs, education, resources, and research. We encourage you to learn more, make a tax-deductible donation, and get involved in Venture Forward's efforts to shape the future of VC.