04 March 2019 – Honda, Panasonic and Omron Become Limited Partners in NordicNinja VC’s First Fund

Big 3

Charles Conn and Patrick Pichette will join Oxford Sciences Innovation to become chief executive and chairman, respectively, with founder Dave Norwood retiring.

Honda, Panasonic and Omron are among the limited partners of NordicNinja VC’s inaugural fund, which will focus on deep tech and help northern European startups expand into Asia.

Novartis has joined forces with Blackstone Life Sciences to launch cardiovascular drug developer Anthos Therapeutics.

Deals

Reports earlier this month suggested SoftBank Vision Fund was considering a large investment in automotive e-commerce platform Chehaoduo and today the company confirmed it secured a commitment for $1.5bn from the telecoms giant.

AI chip developer Horizon Robotics added $600m to its coffers today thanks to two subsidiaries of conglomerate SK Group – SK China and SK Hynix – as well as several unnamed Chinese carmakers.

Danke Apartment, the Chinese company that splits existing flats for families into smaller units and rents them out to young professionals, has collected $500m in a series C round co-led by Ant Financial and Tiger Global Management.

Coinbase raised $300m in series E capital back in October but now reports have emerged that GIC, the sovereign wealth fund of Singapore, was part of that round too. T

GV has meanwhile helped launch Maze Therapeutics by contributing to a $191m funding round that also featured Alexandria Venture Investments. Maze, which has three preclinical candidates in its pipeline, will exploit genetic modifiers – genes that affect the severity of a disease – to tackle a variety of diseases, though it’s keeping shtum about what those are for now.

Ÿnsect is aiming to tackle environmental issues in the food supply chain by breeding mealworms and using them as the basis for fish feed, pet food and fertiliser, and now the company has added sugar producer Finasucre to its shareholders following a $125m series C round.

Motif Ingredients has been spun out of biotech firm Ginkgo Bioworks with $90m in series A capital from investors including merchant firm Louis Dreyfus Company and dairy cooperative Fonterra.

Exits

Spark Therapeutics publicly listed in 2015 and is set to net Children’s Hospital of Philadelphia up to $458m following its acquisition by Roche.

Reports about Uber wanting to merge its Middle East operations with those of Careem go back to July last year, but it looks like the deal’s closure is approaching fast and with a higher price tag attached – $3bn in cash and shares instead of the initially reported $2bn to $2.5bn. I

A (possible) exit of a different kind came for Motorola Solutions Venture Capital, whose portfolio company GoCanvas has attracted $150m from K1 Investment Management in what has widely been billed as a majority stake purchase.

CStone Pharmaceuticals, a China-based biopharmaceutical company backed by Taikang and WuXi PharmaTech, raised $285m in its IPO and achieved a valuation of $1.5bn after selling shares to both Hong Kong and international investors.

Zoom, the video conferencing platform backed by Qualcomm, is inching ever closer to a long-rumoured initial public offering and it looks like April is the current target.

Tiger Brokers, an online brokerage backed by consumer electronics company Xiaomi and digital brokerage Interactive Brokers Group, meanwhile filed for a $150m initial public offering on Nasdaq.

Digital brokerage Futu has meanwhile revised its initial public offering plans and now hopes to raise up to $150m when it lists on the Nasdaq Global Market.

Centogene scents IPO

Funds

EU-owned institutions including the EIF are pouring capital and assistance into an early-stage tech transfer vehicle for the Fraunhofer network of applied research institutes.


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

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