18 March 2019 – Uber Lines Up $1bn in External Capital

The Big Ones

Uber is lining up at least $1bn in external capital for its autonomous car division. SoftBank Vision Fund and Toyota, both of which are already investors in Uber itself, are among the consortium that is in advanced talks to supply the cash. Uber is reportedly seeking a $5bn to $10bn valuation in the round.

Waymo has been operating as part of Alphabet predecessor Google since 2009 and was established as a dedicated subsidiary in 2016. Now, the autonomous driving technology developer is seeking external funding for the first time, and while we don’t know a figure quie yet, it will reportedly be at a valuation far higher than the $15bn it was said to be valued at in the past.

SoftBank revealed in January that it was relaunching its SoftBank Ventures Korea unit as SoftBank Ventures Asia with an expanded remit to invest in the US and Europe as well as all over Asia, and now its CEO JP Lee has revealed that it will also make use of a $500m capital injection.

Deals

Film and TV studio STX Entertainment launched in 2014, raising an undisclosed amount in a Tencent and PCCW-backed round two years later at a $1.5bn valuation. Now, it’s added $700m in debt and equity financing from private equity investors that will fund the expansion of its film production rate as well as strategic acquisitions.

SIG subsidiary Susquehanna Growth Equity is part of a group of investors that have spent $280m to buy shares in work management software provider WorkFront through a secondary share purchase. The company had previously raised $95m in equity financing, and SGE director Martin Anger will take a board seat in conjunction with its investment.

Content delivery network operator Cloudflare has meanwhile raised $150m in a Franklin Templeton-led series E round that took its overall funding to $332m.

Indian freight shipping marketplace BlackBuck has been raising money for its latest round since October and has reportedly set a $100m to $150m target for its close.

Kaplan-backed educational content provider Newsela has meanwhile received $50m from TCV in the form of a series C investment.

Funds

Harvard University has announced a partnership with investment firm Deerfield Management to launch a $100m research and development initiative that will focus on the development and translation of biomedical and life science research.

Exits

Cannabis producer and services provider Verano has agreed to an $850m all-share acquisition by competitor Harvest Health and Recreation, in a deal that will qualify as an exit for cannabinoid therapy developer Scythian Biosciences.

Application delivery technology provider Nginx has raised a little over $100m in funding but has agreed to a $670m acquisition by F5 that will enable Telstra Ventures to exit.

Salesforce Ventures and M12 are set to exit machine learning software developer Figure Eight in an acquisition by AI dataset provider Appen that may total $300m.

Africa-focused online marketplace Jumia has filed for a $100m initial public offering in the US that would follow flotations by other Rocket Internet-founded e-commerce platforms.

Abiomed and Trudell Medical-backed Shockwave Medical, the developer of a calcification treatment system, has raised $97m in its initial public offering.


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

29 October 2018 – Bytedance Raises $3bn at $75bn Valuation

Deals

Bytedance has agreed to raise $3bn in funding from investors including SoftBank at a $75bn valuation that will make it the most valuable independent VC-backed company in the world.

Manbang, the trucking services marketplace also known as Full Truck Alliance, is reportedly in advanced discussions with Tencent and SoftBank over a $1bn round that would value the Chinese company at $9bn.

Huashenghaoche is one of several automotive marketplace operators competing in China’s used vehicle industry, and has secured $210m in a series D round that included JD Finance, the financial services affiliate of e-commerce firm JD.com.

Elsewhere in China, artificial intelligence and internet-of-things technology provider Terminus Technologies has raised $173m in a round that included image and facial recognition software producer SenseTime.

Plaid Technologies last raised money more than two years ago, in a $44m round led by Goldman Sachs that reportedly valued it at $250m.

Aikucun, a fashion e-commerce platform that specialises in surplus stock, has received $110m in series B-plus funding from Sinovation Ventures, GGV Capital, Zhongyuan Capital and BA Capital.

Synthego, the creator of a genome engineering platform for gene and cell therapy developers, has also secured $110m, in a Founders Fund-led series C round that took its total funding to $160m.

Precision oncology drug developer TP Therapeutics has raised $80m in a mezzanine round that included Lilly Asia Ventures and SR One, the corporate venturing units that co-led its last round, a $45m series C in May last year.

Satellite launch services startup Vector has secured $70m in a series B round that will support the company as it looks to begin producing its rockets.

Enable Injections, a US-based medical device developer, has achieved the first close of a series B round featuring Ohio Innovation Fund, the university venture fund formed by Ohio State University and Ohio University.

And on GGV, GoEuro, a Germany-based transport booking service aimed at consumers, has raised $150m in a funding round backed by Singaporean government-owned investment firm Temasek, Kinnevik and firm Hillhouse Capital.

Funds

Brightlands Agrifood Ventures, a venture fund focused on agritech developers connected to the Brightlands campuses in the Netherlands, has achieved a second close at $22.7m thanks to three additional limited partners.

Saudi Arabia’s sovereign wealth fund the Public Investment Fund has contributed $500m to the Russia-China Investment Fund.

Exits

Brazil-based payment technology provider StoneCo is gearing up for one of the year’s biggest IPOs. It will raise about $1.1bn if it floats at the top of its range, and has attracted a range of cornerstone investors that could take a large chunk of those shares.

Online travel services provider Tongcheng-eLong is looking to raise $1bn in an initial public offering in Hong Kong.

Innovent Biologics has priced its Hong Kong IPO near the top of its range to raise $421m.

And Chinese vehicle marketplace, Tuanche, has meanwhile filed for a $150m initial public offering in the US. Bertelsmann Asia Investments has been a Tuanche backer since the company’s 2013 series B round and now owns almost 10%.

PhaseBio Pharmaceuticals, a US-based orphan disease treatment developer exploiting research from Duke University, has floated on the Nasdaq Global Market in a $46m initial public offering.

Endpoint security software provider CrowdStrike was valued at more than $3bn as of its last round, a $200m series E backed by Alphabet unit CapitalG four months ago, and it’s reportedly looking to increase that valuation in an IPO tentatively slated for next year.

CloudFlare has meanwhile begun preparing for its own IPO and could claim a $3.5bn valuation, sources have told CNBC.


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

03 July 2017 – The Political Environment and Investment

Funds

Cloudflare, an internet technology provider with its own security products, has launched its own $100m fund.

Cybersecurity technology producer Trend Micro has inserted an initial $100m into a newly formed corporate venturing unit that will target disruptive sectors such as the internet-of-things, which its parent company believes will be the next technology mega wave.

Corporates boost Cathay Innovation fund to $320m

Capnamic Ventures, a VC firm that focuses on startups in German speaking regions, has reached the final close of its latest fund, having raised $130m. The fund’s limited partners include Cisco, which announced a $500m German investment drive early last year, as well as AXA Germany, Rheinische Post Media Group and Sparkassen Group.

Applied Ventures joins KVIC for $40m Korea fund

University

Technion institutes $200m fund

Imec expands with $136m fund

Government

BioGeneration begets $75m fund

Horizon approaches $150m fund

Exits

ProSiebenSat.1 sells media-for-equity assets

Online insurance provider ZhongAn has reportedly filed for a $1.5bn IPO in Hong Kong that will allow the company’s co-founders Ping An, Tencent and Alibaba affiliate Ant Financial to exit.

Best Inc, one of several logistics and supply chain services providers to have sprung up in the wake of China’s e-commerce boom, has filed for a $750m IPO in the US.

Takeda subsidiary Millennium Pharmaceuticals and Pfizer have both scored exits in a $75m IPO by Mersana Therapeutics, a developer of antibody drug conjugates that will fight cancer.

Deals

Alibaba paid $1bn for a majority stake in Southeast Asian e-commerce marketplace Lazada last year, and now it’s pumped in another $1bn to take its stake to 83%, giving full exits to backers including Tesco and Rocket Internet, both of which also sold shares in the 2016 deal.

Sources confirmed to Bloomberg over the weekend that Houzz, the Comcast-backed operator of a social image platform for house decoration ideas, has closed a $400m round that valued it at $4bn.

Dynamic glass developer View has doubled its series G round to $200m, $70m of the money coming from BlackRock.

Siemens has joined the participants in electric vehicle charging network ChargePoint’s series G round, which has now closed at $125m.

Naspers reveals $71m Flipkart investment

Brazilian mobile commerce platform Movile has raised $53m in a round that included longtime investor Naspers, which had put up a big part of the $135m the company had raised between 2014 and 2016.

GPU-equipped database developer Kinetica has secured $50m in funding from investors including Citi Ventures, taking its equity financing to $63m in a little over a year.

Government

IDS diagnoses $60m investment

University

Diffblue enters series A spectrum


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