05 August 2019 – MyBank Seeks $870m at $3.5bn Valuation

Big ones

MyBank was formed by Ant Financial and Fosun in 2015, and now the big data and AI-enhanced online lending platform is reportedly seeking about $870m in a round that could include both corporates at a $3.5bn valuation. Its other existing investors include Wanxiang, a contributor to the $644m the company received at the time of its launch.

After much speculation, Indonesian bank Bank Negara Indonesia has officially launched its venture capital unit, BRI Ventures. It has provided an initial $100m for the unit that it intends to eventually increase to up to $250m, and it will be headed by Nicko Widjaja, the ex-CEO of one of the country’s other notable corporate venturing entities, Telkom Indonesia’s MDI Ventures. That’s an interesting development considering MDI was said to be helping BNI put together the fund.

Chinese online lending platform 9f has filed to go public in the US and hopes to raise $150m in proceeds but, in an unusual move, is yet to settle on an exchange (it’s a fight between NYSE and Nasdaq). The company’s investors include Susquehanna International Group and SBI, though neither have stakes sized at 5% or more. Founded in 2006, 9f operates a peer-to-peer lending marketplace for consumers, with the loans supplied by both private investors and institutional partners. The platform also offers securities trading and big data analytics functionalities. The company had 76.7 million registered users as of March this year, 7.8 million of which have an approved credit limit. Its outstanding loan balance totalled $8.2bn at the time.

Alizé Pharma 3, a France-based biopharmaceutical startup based on research at University of North Carolina (UNC) at Chapel Hill, University of Maine and Harvard University, secured $74.6m on Tuesday in a series A round led by investment firm LSP. Novo Ventures, Partners Innovation and Sham Innovation Santé, respective investment vehicles for pharmaceutical firm Novo, healthcare provider Partners Healthcare and insurer Sham, among others, also took part in the round. Alizé Pharma 3 is developing drugs that are intended to treat metabolic diseases and diseases of the endocrine system.

Deals

Swiggy is in what’s increasingly become a head-to-head battle with Zomato for dominance in India’s on-demand food delivery sector, and it’s reportedly close to raising between $700m and $750m in a round led by existing investor Naspers.

Healthcare software provider Babylon Health has announced a $550m series C round that will value it at $2bn post-money once it formally closes.

Traveloka raised $420m in a GIC-backed round in April, and is reportedly talking to investors in a bid to secure an additional $500m at a valuation of about $4.5bn.

Mobile bank operator Nubank has already sealed funding, notching up $400m in a series F round that included Tencent. The corporate had already invested $90m in Nubank last October, together with a $90m secondary transaction.

Online real estate brokerage Compass is now valued at $6.4bn having secured $370m in a series G round that included SoftBank Vision Fund, fresh from the launch of its recent $108bn second vehicle.

Mobile commerce platform Wish is now valued at $11.2bn following a series H round reportedly sized at $300m. General Atlantic led the round, without any other participanys being disclosed.

Machine learning software provider DataRobot has reportedly secured $200m in a series E round led by Sapphire Ventures at a valuation of more than $1bn.

Chinese engineering equipment rental service Zhongeng United has raised a total of about $167m in new funding, almost $22m of which came in the shape of series B-plus capital supplied by Five Star.

Funds

Utimco, a joint investment company of University of Texas and Texas A&M University, has backed a $234m life sciences fund raised by Germany-based venture firm Wellington Partners.

Exits

There’s been a lot of talk of decline in the new media sector as of late, and we could be about to see some more consolidation in the space. Vice is one of the biggest players and is reportedly in discussions to acquire Refinery29 in a move intended to diversify its comparatively masculine reputation.


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

01 October 2018 – ByteDance in Funding Talks with SoftBank

Deals

Reports that China-based digital media company ByteDance was seeking funding at a $75bn valuation emerged a few weeks back, but now they’ve been fleshed out with news that it is in talks with SoftBank, which could provide $1.5bn of a $3bn round that also looks set to include KKR and General Atlantic.

Another Indian unicorn, ride hailing platform Ola, is reportedly in talks with Naspers and Temasek over a $1bn round that could value it at between $7bn and $8bn.

Short-term accommodation platform Oyo has raised $800m from investors including SoftBank Vision Fund and has reportedly secured commitments for a further $200m.

Swiggy is looking to establish itself as the market leader in India’s on-demand food delivery segment and has reportedly opened talks with investors including Tencent over a funding round that could reach $700m and value it at up to $2.5bn.

SoftBank Vision Fund continues to make its presence felt in the venture capital space, its latest deal being a $400m investment in real estate transaction marketplace Opendoor.

SoftBank’s Vision Fund has also invested in the latest round for online real estate brokerage Compass, which secured $400m in a series F round that valued it at $4.4bn post-money.

Butterfly Network, the developer of a handheld ultrasound device, has meanwhile received $250m in series D funding from investors including Fosun Pharma at a $1.25bn valuation.

Payment technology provider Stripe has taken a big step forward, securing $245m in a round that more than doubled its valuation to $20bn in less than two years.

Trucking services platform Manbang Group has been one of the recent success stories in China’s VC space, and now Convoy is aiming to become the sector’s market leader in the US.

UBiome, a US-based microbial genomics technology developer backed by the Stanford-StartX Fund, has raised $83m in series C funding from investors including Dentsu Ventures, the corporate venturing vehicle formed by marketing firm Dentsu.

Funds

Despite its name, SoftBank Ventures Korea hasn’t limited itself to Korean deals, and the unit is looking to establish itself more thoroughly in China with a $300m fund it has formed in partnership with TPG Growth.

The Engine Fund, a tough tech-focused VC vehicle associated with Massachusetts Institute of Technology’s Engine incubator, has reached a final oversubscribed close of $205m.

Exits

2018’s really turning into a banner year for IPOs, with fashion e-commerce marketplace Farfetch the latest tech company to launch a successful offering, floating above its range to raise $885m.

Baxalta Ventures has scored one of the year’s big M&A exits, after Alexion agreed to acquire autoimmune disease drug developer Syntimmune for $400m upfront and up to $800m in milestone-related payments.

Asarina Pharma, a Sweden-based biotechnology spinout of University of Umeå, floated on the Nasdaq First North stock exchange last week after raising more than Skr142m ($16.3m) in an initial public offering.


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

5 September 2016 – A look at Lidar, $1bn fund for UK Ministry of Defence and more

People

Renard heads west after SanDisk merger

Wang heads Tsinghua fund

Funds

Reliance pledges $750m for digital startup funding

Elevator advertising firm Focus Media prefers partnerships when it comes to corporate venturing and has agreed to put together a $750m fund with state-owned investment holding group China Everbright.

European insurance firms have been pretty active in the VC space, and ASR seems to be no exception, providing approximately $5.6m for Dutch impact investor Social Impact Ventures, which has closed its first fund at about $45m.

Rev1 fires up $22m Ohio fund

UK Ministry of Defence arms Iris with $1bn

Exits

Caterpillar and Volvo Construction Equipment are set to record decent sized exits from IronPlanet, an online machinery and equipment trading platform that Ritchie Bros Auctioneers has agreed to buy for about $758m.

Phagenesis, developer of a medical device to treat dysphagia, had raised about $20m from investors including Nestlé’s Inventages Venture Capital unit.

Nokia exits Citymaps as it folds into TripAdvisor

IT business management technology provider Apptio has filed for a $75m IPO, after raising more than $135m in venture funding.

Khan Academy catches Duck Duck Moose

Investments

Immuno-oncology startup Arcus Biosciences has revealed it has raised $120m across two rounds.

Yi Technology records $90m series A

Compass, the Advanced Publications-backed operator of an upscale real estate listings platform, has secured $75m in a Wellington Management-led round that took its total funding to $210m.

There have been several reports recently that One97 Communications, operator of online payment platform Paytm, is raising money, and now founder and CEO Vijay Sharma has confirmed that MediaTek subsidiary Mountain Capital has invested $60m at a $4.8bn valuation.

Shyft keys in $12.5m

Helix Sleep gets in bed with Simon Property

BBoxx packages $20m series C

NephroPlus cleans up $15m series C

Blackwood Seven broadcasts $15m round


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