05 November 2018 – Game Studio Epic Games Raises $1.25bn

Deals

Game studio Epic Games has had some very notable successes including the Unreal and Gears of War series, but it’s entered the mainstream in a huge way over the past year with Fortnite, a game that passed the $1bn revenue mark in 10 months. It’s also raised $1.25bn in a round that included a strategic investment by eSports team owner Axiomatic, valuing it at almost $15bn.

Zume began as a pizza delivery service that utilised robotics technology to help prepare the food, and now it’s looking to expand that model into other parts of the food industry. To that end, SoftBank Vision Fund has reportedly paid $375m for a 20% stake in the company and is set to invest a further $375m in a deal that will value Zume at $2.25bn post-money.

Coinbase has secured $300m in a Tiger Global Management-led series E round that valued it at $8bn post-money. The company, which has built a trading platform and digital wallet for cryptocurrencies, has now raised a total of almost $520m in funding since 2012, and its existing investors include New York Stock Exchange, Docomo Capital, BBVA, Mitsubishi UFJ Financial Group and USAA, none of which took part in the latest round.

China has played host to several smart electric vehicle producers and one of them, WM Motor, is reportedly in talks to raise some $287m in funding, with half of the cash to be put up by Baidu, sources have told Reuters (though WM itself suggested the figure would be 50% higher).

Grab, the Southeast Asian ride hailing platform that has moved into mobile services and payment technology, has received $200m from Booking Holdings, the travel and accommodation booking service formerly known as Priceline, as part of a strategic alliance.

Chinese music tutoring service Peilian has raised $150m from investors including Tencent, in a series C round that came less than a year after its series B.

Southeast Asian real estate platform PropertyGuru has raised $145m in a series D round led by KKR that boosted its overall funding to about $325m.

India-based online grocer Grofers is reportedly in talks with existing investor SoftBank over a round sized between $100m and $150m that could value it at up to $650m.

The lidar sensor industry is one that has been attracting ever increasing amounts of funding, and one of its companies, Quanergy, has just raised an undisclosed sum in a round that valued it at more than $2bn.

Galecto Biotech, a Denmark-based developer of treatments for cancer and fibrosis based on research at Lund and Edinburgh universities, closed a $90m series C round co-led by Ysios Capital and OrbiMed.

And Astroscale, a Singapore-based space debris removal technology developer, raised $50m on Wednesday in a series D round featuring property developer Mitsubishi Estate and games publisher Koei Tecmo’s Koei Tecmo Capital investment unit.

Funds

Five Japan-based financial services groups have agreed to form a fund in partnership with sovereign wealth fund China Investment Corporation (CIC) reported by Bloomberg to be up to $1.8bn in size.

Arch Venture Partners, the venture capital firm spun out of University of Chicago, is aiming to raise $600m for its tenth fund. The firm has not yet raised any money but if it reaches its $600m target, Fund X would be the largest flagship vehicle raised by Arch to date and bring total assets under management to $2.86bn.

Exits

StoneCo has made a big step forward for Brazilian startups, securing more than $1.22bn in an IPO that came alongside a $100m private placement by Ant Financial.

Orchard Therapeutics has raised $200m in an IPO that involved it floating at the foot of its range but upping the number of shares involved.

Medical device developer Axonics Modulation Technologies has floated in a $120m initial public offering in which it increased the number of shares and floated in the middle of its range.

Twist Bioscience has gone public in a $70m IPO that saw it float at the bottom of its range.

Video conferencing software provider Zoom is looking to float in an initial public offering in which it will seek a valuation significantly above the $1bn valuation at which it last raised cash almost two years ago.


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

10 July 2017 – Looking to the End of Summer

Editorial: What do people want when the summer is over?

Funds

AT&T has been relatively quiet while competitors like Verizon, Telstra and SoftBank have made great strides in corporate venturing, but that may be about to change with the formation of a strategic investment fund in which the telecom firm plans to invest up to $200m.

Autoliv moves $15m to Autotech Ventures

Vinci helps Axeleo draw up first close

Government

RCIF gains $1bn

EIF buys into $198m Cipio fund

Germany awards funding to 48 institutions

Enterprise Ireland launches $68m fund

University

Tel Aviv heads to India

UC Riverside launches $10m Highlander fund

Exits

Jawbone raised hundreds of millions from investors such as Deutsche Telekom as it moved from Bluetooth-enabled speakers to wearable fitness trackers, and at one point was raising cash at a $3bn+ valuation. All that appears to have ground to a halt however, as reports suggest the company has begun liquidation proceedings, weakened by a Fitbit lawsuit and done in by the flatlining wearables sector.

Roche eats up MySugr

Delivery Hero has raised more than $1.1bn in an IPO that enabled the Rocket Internet-owned Global Online Takeaway Group to sell about $148m of shares.

Gaming product maker Razer has filed for its own IPO, in Hong Kong, and is set to raise more than $600m according to TechCrunch.

Sienna to scratch IPO itch

Internet service provider MyRepublic may have failed in its bid to become Singapore’s fourth big telecom company, but it still plans to float by the end of 2018,

Online storage technology platform Dropbox has begun preparations for what will likely be the biggest tech IPO since Snap went public in March, and will shortly begin interviewing investment banks for the underwriting positions.

Canada-based bone disease therapy developer Clementia Pharmaceuticals has filed for a $115m IPO in the US that will provide an exit to strategic backer UCB Pharma, after the latter took part in a $60m series B round for the company in 2015.

Investments

China Money Network today launches the China Unicorn Ranking 2017, the most complete list of all private start-ups in China currently valued at $1 billion or more.

Just weeks after Mobike closed a $600m funding round, its main rival in the bike sharing sector, Ofo, has raised $700m in a series E round led by Alibaba.

Kakao drives $437m mobility spinout

Tencent invested $44m investment in Coocaa, the smart television subsidiary of Skyworth Digital Holdings, last month, and it’s now repeated the trick, paying $66m for a 16.7% stake in TCL’s smart TV unit, Shenzhen Thunderbird Network Technology.

Steel producer Shougang has co-led a $73m round for online steel trading and services platform Zhaogang through a private equity vehicle called West Fund.

Headspace, the developer of a meditation and mindfulness platform that mixes a subscription-based guided meditation service with themed text and video content, has raised $36m in a round led by growth equity firm Spectrum Equity.

Axonics Modulation Technologies, the developer of an implantable neuromodulation system, has added $20.5m to a series C round that now stands at $35m.

Theva conducts $8m in EnBW-backed round

University

MuMac eyes first round


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