23 July 2018 – First Half of 2018 Sets Up Record-breaking Spree for University-linked Deals

Funds

Petrochemical group Sinopec is committing approximately $1.5bn to an investment firm that will back technologies in areas such as intelligent manufacturing, new materials and energy.

BlackFin directs fintech fund to $210m close

Cyberdyne assembles corporate venturing fund

The Motley Fool launches $100m fund

Anglo American Platinum has been an occasional VC investor but is now transferring its portfolio, along with $100m in capital, to AP Ventures, a newly-formed venture capital fund that will back developers of technologies that utilise platinum.

University

High Alpha reaches $102m

Deals

In this week’s Big Deal we examine the $500m invested by Booking Holdings, the travel services provider formerly known as Priceline Group, in ride hailing service Didi Chuxing as part of a strategic partnership.

SenseTime has already raised some $1.6bn in funding over the past year, but SoftBank Vision Fund is reportedly readying an investment of up to $1bn in the China-based facial recognition technology provider.

Suning’s sports asset management spinoff, Suning Sports, has meanwhile raised $600m in a series A round co-led by Alibaba and Goldman Sachs that included, interestingly enough, SenseTime.

Zuoyebang, a homework assistance service spun off from Baidu’s question-and-answer platform, has received $350m in series D funding, with Coatue Management leading the round.

Online Q+A platform Zhihu Technology has reportedly secured $300m in a Tencent-backed round that valued it at about $2.5bn, taking its overall funding past the $480m mark.

Ascentage Pharma, a cancer, hepatitis B and age-related condition drug developer spun out from Ascenta Therapeutics, has completed a $150m series C round co-led by YuanMing Prudence Fund and Oriza Seed Venture Capital.

Glovo’s on-demand delivery service now spans some 60 cities across 17 countries, and it plans to spend more on international growth after raising $134m in funding from investors including AmRest, which reportedly put up $29m, and existing backer Rakuten.

SoftBank Vision Fund has led a $121m series D round for advanced camera developer Light, which will use the funding to expand its imaging technologies into other sectors.

Social investment community Snowball Finance has raised $120m in series D funding from investors including Ant Financial, and will spend the money on recruitment and the expansion of a range of products that includes financial trading and private equity fundraising platforms.

BookMyShow secures $100m ticket

Unisound turns up the volume with $89m

Orbex orders up venture funding

University

Undo debugs $14m series B

Notre Dame breeds 27 companies in 2017-18

Exits

Group buying platform Pinduoduo is further along the IPO path, having just set terms for an offering that will net it more than $1.6bn if it floats at the top of its range.

Live game streaming platform Inke has secured $134m in its initial public offering despite floating at the foot of its range.

A third China-based company, business finance services provider Pintec, has meanwhile filed for its own IPO in the US.

Otsuka works out Recor Medical acquisition

Xilinx digs up DeePhi acquisition

University

Bossa Nova spots Hawxeye


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

16 January 2017 – Funding Circle Raises $100m, Starship Technologies Raises $17.2m Seed Funding and Much More

Deals

Insurance and reinsurance firm Arch Capital Group has contributed to a $510m round that has launched Premia Holdings, a Bermuda-based company that will offer property & casualty runoff insurance to businesses.

Chinese real estate service Lianjia raised more than $920m at a $6.2bn post-money valuation last April, in a series B round backed by Tencent and Baidu.

Hive Box, the logistics station network established by corporates GLP, SF Express, STO Express, ZTO Express and Yunda Express in 2015, has received approximately $360m in series A funding.

Mobile payment platform iZettle has raised $63m in financing to almost double the size of its series D round to $130m.

Much of the activity in the peer-to-peer lending sector has been concentrated in the US and China, but UK-based Funding Circle is proving it’s no slouch, raising $100m from investors including Rocket Internet and Temasek, the investment arm of Singapore’s government.

Zhihu, China’s answer to Quora, has secured $100m in a series D round backed by Tencent, which had previously invested in the company’s $55m series C just over a year ago, and search engine provider Sogou.

Alibaba’s local services subsidiary, Koubei, has co-led a funding round for restaurant table booking platform Meiweibuyongdeng that valued the company at just over $430m. T

Flash storage technology producer Kaminario has secured $75m in a series F round led by private equity firm Waterwood that it will use to expand in regions such as Eastern and Western Europe, Asia Pacific and the Middle East.

Ascentage Pharma spun out of oncology drug developer Ascenta Therapeutics in 2009 and has now closed a $72m series B round led by the Chinese government’s Future Industry Investment Fund that will be used to advance its pipeline of small-molecule drug treatments for cancer, hepatitis B and age-related diseases.

Immuno-oncology company Neon Therapeutics has raised $70m in a series B round backed by Access Industries, the conglomerate that took part in its $55m series A round just over a year ago.

Here’s a smaller one by amount but an enormous one for its stage: drone technology and logistics have both been hot areas of late so it’s no surprise that a company that combines the two, Starship Technologies, has raised a huge $17.2m in its seed round.

Another one that doesn’t exactly count as one of the week’s biggest, but is noteworthy nonetheless happened on GlobalUniversityVenturing.com, where Alta Innovations, the tech transfer office of Birmingham University, made a first investment from its £5m Spinout Investment Fund.

Funds

Abu Dhabi’s Mubadala Development Co has been cited as an investor in SoftBank’s $100bn Vision Fund since November, and people familiar with the matter have told Bloomberg it is set to provide between $10bn and $15bn.

Tekes Venture Capital, the investment arm of Tekes, the state-owned Finnish Funding Agency for Innovation, has backed Butterfly Venture Fund III, a €24m ($25m) seed fund aimed at startups in Nordic countries.

The nanotechnology-focused commercialisation firm is set to establish two investment funds in the first half the year and is seeking co-investors from China and the Middle East as well as Japan.

The week’s largest fund on GlobalUniversityVenturing.com meanwhile was healthcare-focused VC firm Versant Ventures closing its sixth investment fund at a hard cap of $400m, with a third of that sum allocated towards the commercialisation of university research.

Exits

Fog Creek Software launched cloud collaboration tool Trello in 2011, spinning it out three years later when it raised $10.3m from VC investors.

SoftBank has had some notable successes through its CVC activity in Asia but it’s fair to say realty listings platform Housing.com is not among them. SoftBank had reportedly invested up to $95m in Housing.com, which has now been acquired by rival PropTiger in an all-share deal that valued it at no more than $75m. The corporate hasn’t given up however, and is investing $5m in the merged company together with a $50m contribution from PropTiger investor News Corp.

People

Akshay Naheta, chief investment officer of Knight Assets, has joined SoftBank to help manage the company’s $100bn fund that is backed by a range of sovereign wealth funds.


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