09 April 2018 – Management Approaches to Portfolio

Which camp are you in? In China, it seems, there is Alibaba and there is Tencent.

Alibaba and Tencent account for 40% to 50% of venture capital flows in mainland China, according to data from McKinsey quoted by news provider Financial Times*.

Their approaches, however, seem slightly different at the operational level in how they engage with portfolio companies.

Exits

Many of us in the western world may have enjoyed a break over the Easter weekend, but our friends in Asia appear to have powered on as normal. Chief among them is Alibaba, which has confirmed earlier reports that it will acquire Ele.me, the food delivery service in which it already owns a substantial stake (a total of 43% when also accounting for shares owned by Ant Financial), at a valuation of $9.5bn.

Advanced camera producer Lytro shutters business

Spotify may have gone public in an unusual listing and seen its shares rise to more than $149 by closing time, but it is far from the only company seeking its luck on the stock exchanges of the world.

Homology Medicines, a rare disease treatment developer backed by Novartis, raised $165.6m in its IPO on Nasdaq after pricing its shares at $16.

NLight Photonics, a laser technology producer backed by Samsung, has meanwhile filed for an $86.3m IPO on Nasdaq – achieving the rather remarkable feat of securing the ticker symbol LASR.

Alzheon, a developer of treatments for neurodegenerative disorders such as Alzheimer’s disease that is backed by Aptus Therapeutics, has set its pricing range at $13 to $15, putting the potential proceeds at nearly $86.3m.

Unum clocks $69m IPO

Funds

Coinbase launches investment unit

Sofinnova launches $340m fund

Deals

Meituan-Dianping is reportedly in discussions with dockless bicycle rental platform Mobike about an investment.

Paytm Mall has secured $445m in a funding round led by SoftBank which injected $400m.

Alisports scores $190m series A

Instacart, which is handling grocery deliveries to consumers for a long list of retailers, including Whole Foods, Costco and Sam’s Club, has added $150m in series E funding to bring the round’s total to $350m.

Mixpace steps into $63m series B1

Tempest storms to $70m series B

Branch International banks $70m

Abbott spots Bigfoot for $55m series B

Twist wraps up $50m investment

NGP Capital, the venture firm formerly known as Nokia Growth Partners, returned to back WorkFusion’s $50m series E round and bring the automation technology developer’s total funding to $118m.

University

SiFive receives $50.6m series C instructions

Macrolide slides into $20m series B


“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0

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