Theranos founder Elizabeth Holmes to stand trial in 2020

Elizabeth Holmes, the founder of the now-defunct biotech unicorn Theranos, will face trial in federal court next summer with penalties of up to 20 years in prison and millions of dollars in fines. Jury selection will begin July 28, 2020, according to U.S. District Judge Edward J. Davila, who announced the trial will commence in August 2020 in a San Jose federal court Friday morning. Holmes and former Theranos president Ramesh “Sunny” Balwani were indicted by a grand jury last June with 11 criminal charges in total. Two of those charges were conspiracy to commit wire fraud (against investors, and against doctors and patients). The remaining nine are actual wire fraud, with amounts ranging from the cost of a lab …

As meal-kit melee stretches on, Sun Basket whips up $30M Series E

Sun Basket, a provider of a healthy meal kit delivery service, has raised another $30 million in venture capital funding. The round, led by PivotNorth Capital, brings the company’s total raised to $125 million. The Series E funding delays Sun Basket’s expected initial public offering once again. There’s been unsubstantiated talk of a Sun Basket float for quite some time; in fact, before Blue Apron and Hello Fresh, a pair of fellow meal-kit delivery businesses, completed IPOs, Sun Basket was the subject of exit rumors. Alas, we will have to wait a while longer before the company makes the big leap. After all, Blue Apron has performed very poorly since going public on the New York Stock Exchange two years …

Part fund, part accelerator, Contrary Capital invests in student entrepreneurs

First Round Capital has both the Dorm Room Fund and the Graduate Fund. General Catalyst has Rough Draft Ventures. And Prototype Capital and a few other micro-funds focus on investing in student founders, but overall, there’s a shortage of capital set aside for entrepreneurs still making their way through school. Contrary Capital, a soon-to-be San Francisco-based operation led by Eric Tarczynski, is raising $35 million to invest between $50,000 and $200,000 in students and recent college dropouts. The firm, which operates a summer accelerator program for its portfolio companies, closed on $2.2 million for its debut, proof-of-concept fund in 2018. Contrary Capital celebrating its Demo Day event last year Last year, Contrary kicked off its summer accelerator, tapping 10 university-started …