06 August 2018 – $585m Series B+ Round for Xiaopeng Motors

Deals

Grab has been on a tear in the last year, raising $2.5bn from SoftBank, Didi Chuxing, Toyota and Hyundai a year ago, before Toyota invested a further $1bn in June this year. That Toyota funding has now been doubled to make a $2bn round, the new cash coming from backers including corporate funds Ping An Capital and Mirae Asset – Naver Asia Growth Fund.

Elsewhere in the Asian transport sector, smart electric vehicle developer Xiaopeng Motors has pulled in $585m in a series B+ round co-led by Primavera Capital, Morningside Venture Capital and company chairman He Xiaopeng.

Peloton, the operator of a home fitness offering that consists of a custom-made exercise bike and streamed fitness classes, is taking a big step forward.

China Diagnostics Medical Corporation, a medical diagnostics service provider that’s been around almost 20 years, has raised approximately $294m in a round featuring Ping An Ventures. Legend Capital co-led the round with China Renaissance, putting in $100m in the process.

Brandless emerged from stealth a year ago having raised a total of $50m from investors including GV, and now SoftBank’s Vision Fund has led a $240m series C round that reportedly values the affordable consumer goods provider at just over $500m.

Zhaoyouwang, the Chinese operator of a fuel trading platform for businesses, has received $150m in a series C round co-led by GLP and backed by returning investor SIG Asia.

China-based immuno-oncology therapy developer Curon Biopharmaceutical has closed a $150m series A round that included 6 Dimensions Capital, the venture capital firm co-founded by pharmaceutical research firm WuXi AppTec. Singaporean government-owned investment firm Temasek and private equity firm Boyu Capital also contributed to the round.

Medlinker, the creator of a social network for medical professionals, has secured $146m in a series D round led by China Capital Zhongcai Fund.

Judo Capital has closed what is reportedly the second largest ever for an Australian startup, securing $104m from investors including Credit Suisse Asset Management.

On Global University Venturing we have Apeel Sciences, a US-based food technology developer that emerged out of UC Santa Barbara, which has raised $70m in a series C round led by hedge fund Viking Global Investors.

Exits

Cisco has agreed to pay $2.35bn to acquire user authentication software provider Duo Security, 10 months after it raised money at a $1.7bn valuation.

Chinese media reports first suggested Didi Chuxing was in talks to buy portfolio company Ofo for $1.5bn early last week but then a source told Reuters the terms of a prospective deal have shifted, with Didi set to partner another of Ofo’s corporate investors, Ant Financial, on a joint deal that could value the bicycle rental platform at $2bn.

Arm has agreed to acquire Treasure Data in a deal reported by Bloomberg to be about $600m in size.

On GUV, Dattus, a US-based industrial connectivity technology developer assisted by the Purdue Foundry accelerator, was acquired by manufacturing automation software provider Plex Systems for an undisclosed sum.

Funds

Singapore-based VC firm Golden Gate Ventures has achieved a $65m first close for a $100m fund, with LPs including conglomerate Hanwha and internet company Naver as well as Temasek.

Patrick Eggen has left Qualcomm Ventures, where he was managing director for North America, to launch a new fund. Counterpart Ventures was co-founded by Eggen and Joe Saijo, who was formerly president and managing director of Recruit Strategic Partners, with both taking partner positions.


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

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

02 October 2017 – Roscosmos Establishes Space Ecosystem Fund

Deals

Chinese online services portal Meituan Dianping is reportedly nearing the close of a $3bn round featuring long-term investor Tencent that will value it at up to $30bn.

Alibaba has paid approximately $800m to hike its 47% stake in logistics affiliate Cainiao to 51%, as part of a $5bn investment drive to strengthen its logistics technology capabilities over the next five years.

Food ordering platform Deliveroo has secured $384m in a round co-led by Fidelity and T. Rowe Price set to be announced this week that will reportedly value it at $2bn.

Fosun-backed personal accounting platform Shenzhen Suishou Technology has secured $200m in a series C round led by private equity firm KKR’s newly formed Asian Fund III.

Ride hailing platform Didi Chuxing has invested $200m in Renrenche, the third largest second-hand car e-commerce marketplace in China by market share.

Qingting.fm, an online radio platform that reportedly counts Youku Tudou among its investors, has raised $151m in series E funding from undisclosed investors, according to AllChinaTech.

Pfizer has spun out a startup called SpringWorks Therapeutics to develop treatments for incurable conditions such as desmoid tumours and post-traumatic stress disorder based on therapies licensed from the corporate.

Letgo launched in 2015 as a mobile-focused competitor to Craigslist and eBay, and claims to be one of the fastest growing apps in the country. That growth is set to be fueled by $100m of new funding at a $1bn valuation from undisclosed existing investors.

Customer relationship management software provider ProsperWorks has received $53m in a series C round that took its overall funding to $87m, a sum CEO Jon Lee has claimed makes it the most well-funded CRM company founded in the past 10 years.

Treasury and finance management platform Kyriba has raised $45m in funding from investors including HSBC, the bank that backed its series C and D rounds, in 2015 and 2016 respectively.

We’ve already had the biggest deal on GGV – Cainiao – and on Global University Venturing, the biggest deal came from the UK. Autolus, a biopharmaceutical spinout from University College London (UCL), raised $80m in a series C round that included investment firm Woodford Investment Management. Syncona, backed by medical charities Wellcome Trust and Cancer Research UK, also participated in the round, as did Arix Bioscience, Cormorant Asset Management, Nextech Invest and a range of unnamed investors.

Funds

The Netherlands government-owned Dutch Investment Agency (NIA) and the EU-owned investment vehicle European Investment Fund (EIF) have committed €100m ($117.7m) to a fund targeted at growth-stage startups dubbed the Dutch Growth Co-Investment Program.

The Russian government-owned space agency Roscosmos has established a venture capital fund to commercialise inventions from the space ecosystem.

Exits

Sea, the Southeast Asian online services provider formerly known as Garena, has filed to raise up to $1bn in an initial public offering in the US.

Chinese online video streaming platform iQiyi is considering an initial public offering that will take place in the US early next year and has already started talking to banks, sources have told Bloomberg.

SAP has paid a reported $350m to acquire customer identity management software provider Gigya and will incorporate the company into its SAP Hybrid offering.

Roku has priced a $219m IPO in which Sky Ventures will sell some $9.4m of shares, and is set to float on the the Nasdaq Global Select Market tomorrow.

Nexon has paid $80m for a 65% stake in Korea-based cryptocurrency exchange Korbit, ironically at the exact point when the Korean government has banned initial coin offerings.


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

19 June 2017 – Ride Hailing Services Grab Deals and Much More

Funds

Ping An outlines fintech investment plans

Medicxi nabs corporates to close $300m fund

Novartis and Alphabet subsidiary Verily were among the limited partners for a the late-stage fund, which will complement the GSK and Johnson & Johnson-backed fund  Medicxi closed in 2016.

Japan-based ICT equipment provider Nihon Unisys has formed a $45m corporate venturing unit that will seek out investments in sectors such as robotics, financial technology and the internet of things.

Palo Alto Networks puts together $20m fund

GUV

Galaxy stars in IP Group’s $264m fundraising

GGV

London looks to Better Futures

Exits

Wanderful finds path to acquisition

GGV

Hello bids farewell

Deals

News leaked out in March that ride hailing service Grab was set to raise $1.5bn in a round led by existing investor SoftBank, and sources have told Bloomberg firstly that the round already includes Didi Chuxing, and secondly that Alibaba or Ant Financial is also considering an investment, in order to promote their Alipay platform to Grab’s Southeast Asian customers.

Mobike has raised $600m in a Tencent-led round that will fuel expansion not only in its home country but also in Singapore and the UK.

Careem is taking the Uber model to the Middle East and surrounding countries, and is growing rapidly in the process, doubling the number of cities in which it operates to 80 in the past six months.

A regulatory filing in April indicated Indian ride hailing company Ola was seeking another $100m in funding, and it has reportedly secured some of that already. Hedge fund Tekne Capital Management has provided a sub-$50m amount.

Jaguar Land Rover and its corporate venturing and incubator subsidiary InMotion have invested a combined $25m in ride hailing company Lyft as part of a partnership agreement that will involve Lyft helping test its autonomous driving and mobility services.

Elsewhere in the transport sector, Chinese second hand vehicle marketplace Guazi.com has received $400m in series B funding from investors including steel producer Shougang Group’s Jingxin Venture Capital fund.

UCar, the China-based chauffeured car service that went public last year at a $5.5bn valuation, has formed a corporate venturing fund sized at almost $1.5bn, and its first investment has been to lead a $324m series B round for electric vehicle developer Xiaopeng Motors.

Electric bus producer Proterra raised $140m a recently as January, in a ‘series 5’ round featuring Edison Energy, GM Ventures and Exelon’s Constellation Technology Ventures unit, but it wasn’t finished.

Oppo takes a ride on Ponycar

Drone Racing League takes off with $20m

Following on from news that Amazon is interested in acquiring Slack for upwards of $9bn, but recently bought US-listed Whole Foods for $13.7bn, it turns out Slack is in the process of raising $500m of new funding at a $5bn post-money valuation.

AvidXchange, a provider of automated payment processing technology, has raised $300m in financing from investors including Mastercard, with which it has struck a strategic partnership agreement to supply AvidXchange’s technology to its customers.

Temasek and Caisse de dépôt et placement du Québec have contributed to a $300m funding round for AvidXchange that also attracted Mastercard and Peter Thiel.

Online brokerage Futu Securities has received more than $145m in a series C round led by Tencent, the corporate investor that also took part in its series A and B rounds.

Element AI elevates itself to $102m series A

Actility admits Cisco to $75m series D

Clutter is one of several on-demand platforms seeking to disrupt the personal storage space, and it has raised $64m in a GV-backed series C round to support growth, both in its home country of the US and abroad.

Twist finds the material to raise $60m

Omada goes on the attack with $50m

GGV

Protix breeds $50.5m investment


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

15 May 2017 – SoftBank Leads Improbable $502m Investment and Much More

Deals

The $5.5bn round on-demand ride provider Didi Chuxing just confirmed was closed at a $50bn valuation that means it is closing ground with rival Uber in terms of size, and the company has indicated it will use the cash to finally expand globally.

Yixin Group, the online automotive marketplace spinout of motoring e-commerce firm Bitauto, has secured $580m in funding commitments in a round that includes both its parent company and internet group Tencent.

Indonesia-based online media, e-commerce and financial services platform Garena has rebranded itself as Sea and revealed $550m in funding from conglomerates JG Summit Holdings and Uni-President Enterprises.

SoftBank is continuing its investment spree, leading a $502m series B round for Improbable, a UK company developing software that will make the creation of large-scale virtual worlds possible.

SoftBank has also led a $360m round for Guardant Health, the developer of a liquid biopsy test for cancer diagnosis, and will help commercialise Guardant’s technology in Asia, Africa and the Middle East.

Modernizing Medicine had raised a total of $87m in funding as of the $38m series E round it closed in 2015, but the electronic health record system developer has taken a big jump with a $231m investment by private equity firm Warburg Pincus.

Online payment services provider PayU has invested $120m in digital lending platform lending platform Kreditech as part of a strategic partnership agreement.

There’s been more action in the on-demand transport sector, with Spain-based Cabify having raised $100m from an undisclosed single investor as part of a series D round it aims to close at $500m.

India-based mobile wallet operator MobiKwik is working on its own nine-figure round and is reportedly in talks with BlackRock, Bank of Baroda and Canara Bank over a round that will value it at about $1bn.

Music royalties platform Kobalt has raised $75m in a Hearst Entertainment-led series D round that valued the company at $775m post-money.

Signifyd has secured $56m in an American Express Ventures-backed series C round that increased its overall funding to almost $100m.

Social music app developer Smule has raised $54m in a round led by Tencent that reportedly values it at just over $600m.

Customer data software provider Gainsight has closed a $52m series E round featuring Salesforce Ventures and Cisco Investments that took its overall funding to more than $150m.

We’ve already talked about the biggest government venturing deal with Guardant Health just now, but what about the university venturing world? We haven’t had any mind-blowingly large rounds there this week, but still a few interesting ones – among these is SiFive, a US-based fabless provider of customised semiconductors based on UC Berkeley research, which raised $8.5m in a series B round that included spinout-focused investment firm Osage University Partners.

Funds

Dell has brought its corporate venturing unit, Dell Technologies Capital, out of stealth, revealing a 50-strong portfolio and 27 exits in the past five years.

China has launched a RMB17.8bn ($2.6bn) venture capital fund aimed at startups in industries of strategic importance, such as IT, energy conservation and environmental protection, advanced materials and equipment manufacturing.

International Finance Corporation (IFC), the private sector-focused investment arm of multilateral financial institution World Bank, has agreed to put $10m into the Stellaris Venture Partners India I fund.

BDC Capital, the investment arm of the government-owned Business Development Bank of Canada, injected C$5m ($3.6m) into the StandUp Ventures Fund I.

Exits

Ovid Therapeutics has gone public in a $75m IPO that provided exits for Sanofi-Genzyme BioVentures and Takeda, the latter its largest external investor.


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

03 October 2016 – Funding news from Canada, the EU and the UK, Exits for Nokia and Much More

People

Jack Leeney, US head of investing for Telefonica Ventures, the corporate venturing unit of the eponymous Spain-based phone operator, has left after nearly five years at the firm in order to be a partner at SP Global Capital.

Microsoft Ventures has hired Leo de Luna, previously a principal at venture capital firm Split Rock Partners, as managing director to cover California’s Bay area and New York; Rashmi Gopinath, previously an investment director at Intel Capital, as an investing partner covering enterprise software investments in the Bay area; Lisa Nelson, previously chief of staff to the head of business development and the chief financial officer at Microsoft, as a partner; and Priya Saiprasad, previously part of financial services startup Square’s corporate development team, as a principal.

Mérieux Développement has appointed Jean-François Billet, Daniel Fero and Benoit Pierret as it expands its investment capabilities in Europe and the US.

Funds

Canada could start a second funds of venture capital funds (FoF) support programme in its next federal budget allied to support for corporate venturing.

The government-backed European Investment Fund (EIF) has set up a collaboration with national promotional institutions (NPIs) or banks (NPBs) across European Union (EU) member states, with one of its first initiatives expected to be a venture capital coinvestment programme with the Netherlands, according to an attendee.

Baidu, the internet company has added another fund, the $60m Easterly Ventures, to its arsenal. This latest vehicle will focus on Brazil-based technology startups.

Line, the messaging app spun out of Naver, has joined forces with its parent company to put $112m in a fund being raised by Korelya Capital – both companies providing $62m.

ServiceNow has set up an investment division dubbed ServiceNow Ventures and launched a competition to award a total of $500,000 to startups.

Havas, the France-based advertising and PR firm, will provide capital and consulting to Australian startups.

Wayra joins UK government for cybersecurity accelerator
The Telefónica subsidiary will establish the accelerator initiative

Daimler’s Startup Autobahn accelerator reaches Singapore
The scheme, initiated in Stuttgart last year, will be replicated in Singapore in partnership with NUS

Nationwide Children’s Hospital partners Rev1 for $5.5m fund
The healthcare system has joined venture capital firm Rev1 Ventures for a unit that will invest in life sciences

Exits

One of the companies that was expected to list back in January after filing for a $200m IPO at the backend of last year was Nutanix, an enterprise cloud company backed by Sapphire Ventures, the VC firm spun out of SAP. Market conditions turned out to be less than favourable then, but the company has now finally moved ahead valuing the company at $4bn.

Nokia exits Gridsum in $87m IPO

Nokia gets out of Intermedia in MDP acquisition

One97 comes to the rescue as EduKart crashes

SoundCloud, a music streaming service popular with independent artists, is reportedly in acquisition talks again. This time it’s not Twitter, which discussed such plans in 2014 but withdrew that same year before injecting $70m in series E capital a few months ago, but Spotify.

Investments

Another maybe deal but Wal-Mart enters talks to drive $1bn Flipkart investment

FIH Mobile subsidiary has contributed $125m to Tink’s funding round, a company that partners hotels and puts smartphones in rooms that are free to use for guests.

Didi Chuxing enters Ofo’s funding cycle

Online sales technology developer Apttus, backed by Salesforce Ventures, has welcomed back sovereign wealth fund Kuwait Investment Authority for an $88m series D round that put the company’s total equity at $274m.

Bloomberg helps ship $65m to Flexport

Xiaochuan Chuhai does its series B homework

Merck Ventures takes a ride on iOMX

Line seasons $45m Snow investment

Shape Security fits $40m into series D

Instacart consumes Whole Foods funding

NS1 directs $20m to series B

Eli Lilly breaches Fortis in $18m series A

University Corner

GE and Allied Minds study collaboration

Government Department

Druva drives $51m series E


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

12 September 2016 – Automotive Deals, UK Funds and more funding for Didi Chuxing plus more

Deals

Best Logistics has closed a massive $760m funding round that shows how big China’s logistics sector is growing in the wake of the country’s e-commerce success.

SoFi received $1bn from backers including Renren and SoftBank at a $4bn valuation in October, followed that up with another $150m from Renren the following month, and is now reportedly lining up a $500m round, though the prospective investors are yet to be revealed.

Moderna Therapeutics closed a huge $450m round at the start of last year that valued it at $3bn, and now the RNA therapeutics developer has revealed $474m in new equity financing which, a regulatory filing indicates, includes the $140m invested by AstraZeneca last month.

Online car marketplace Cheyipai has raised $185m in funding from investors including Renren and Tencent, but is now changing tack by switching from a business-to-consumer model to one that serves other businesses. That pivot may be part funded by car manufacturer BAIC, which is reportedly in talks to lead a $45m round.

Chinese automotive marketplace RenRenChe is less than three years old, but has secured $150m in a round backed by new and existing VC investors.

Didi Chuxing has had quite a year and it continues to go from strength to strength, closing $120m in funding from manufacturing services provider Foxconn at a $33.7bn valuation.

Novartis Venture Fund has co-led a $40m series E round for Rox Medical, the developer of a device that will treat hypertension in older patients.

Rigontec, a biopharmaceutical spinout of Bonn University, today achieved a third and final close of its series A round at $32.3m with public-private partnership High-Tech Gründerfonds (HTGF) making another commitment.

Red Dot Capital Partners, a $150m vehicle wholly funded by Singaporean government-owned investment firm Temasek, led a $38m investment yesterday in Israel-based wireless technology developer Celeno Communications.

Funds

Russian conglomerate Sistema has already launched two VC vehicles this year – the $50m India-focused Sistema Asia Fund and a $100m fund with Tsinghua University – and it’s followed those up with a private equity fund partnership with Russian state-owned tech commercialisation company Rusnano.

Neil Woodford, a UK-based fund manager and founding partner of Woodford Investment Management, is reportedly in talks with the UK government to set up a £250m ($330m) VC fund, Portfolio Adviser reported.

Imperial College London has become a limited partner in a £40m ($53.7m) fund launched by incubator Entrepreneur First yesterday, according to TechCrunch.

Exits

Intel has acquired vision processing chip producer Movidius in a transaction that provided exits to corporates Robert Bosch and Sunny Optical.

IDG Ventures India can also celebrate an exit, or at least a partial exit from eyewear supplier Lenskart, selling $20m in shares to investment firm PremjiInvest in a deal that also involved PremjiInvest investing a further $10m in Lenskart directly.

Allergan has acquired the Wayne State University spinout, backed by Santen Pharmaceutical and Nerveda, for an upfront payment of $60m.

People

Oxford University’s commercialisation arm has appointed Matt Perkins as its new chief executive, replacing Tom Hockaday who stepped down earlier this year.

Ozan Sönmez has been appointed managing director of T-Jump Startup Hub, the US-based incubator of Middle East Technical University’s tech transfer office ODTÜ Teknokent.


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

27 June 2016 – Blade Therapeutics, Kellogg, and IPOs for Twilio and Selecta Biosciences and more

Deals

Corporate

While not technically new, we have more information on the massive $7.3bn round for Didi Chuxing that we talked about on last Monday’s podcast. Poly Group, a Chinese state-owned real estate and trading business, contributed a whopping $400m in return for a 1.45% stake.

HR Bio Holdings, a joint venture between pharmaceutical company Jiangsu Hengrui Medicine and an unnamed blue chip investment firm, injected $100m to launch a US-based cancer therapy startup named Hengrui Therapeutics.

Xinmei Mutual Insurance Association attracted $150m from a consortium featuring Ant Financial.

University

Johns Hopkins spinout Blade Therapeutics raises $45m in its series B round.

Funds

University and Government

University College Dublin and Trinity College Dublin have set up a $68m fund in partnership with Atlantic Bridge that was also backed by the European Investment Fund and Enterprise Ireland, the development agency of the Irish government, as well as banks AIB and Bank of Ireland.

Corporate

Kellogg – yes, the makers of the breakfast cereals – is venturing into the CVC sphere with a $100m unit that will seek out opportunities in the food industry.

Shenzhen Hepalink, a Chinese pharmaceutical firm, invested $60m in the latest fund raised by TPG Biotech. The commitment follows the company’s decision to back the previous fund 18 months ago with $22m. TPG Biotech has invested in more than 50 companies since 2002.

Exits

Twilio, a business communication platform that was actually expected to delay its flotation and wait out the UK referendum results, but ended up not doing that. Instead, it upsized its IPO, raising $150m.

Selecta Biosciences, a synthetic vaccine particle developer, also got in on the IPO game ahead of the referendum, pricing its flotation at $70m and providing an exit to Sanofi-Genzyme Bioventures.

People

EDFI, the Association of European Development Finance Institutions, has appointed two new people.

Dartmouth College meanwhile is losing two staff members, Tillmann Gerngross and Trip Davis – the two who helped establish the university’s tech transfer office, the Office of Entrepreneurship and Technology Transfer, in 2013.

Softbank’s COO and president Nikesh Arora has left.

Lockheed Martin Ventures, the newly established CVC unit of the aerospace and security company, has brought Christoper Moran on board as executive director and general manager.


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

20 June 2016 – Post-lean interview with Frode Odegard, Didi Chuxing, FII, Rgenix, Imperial Innovations and more

Didi Chuxing, the ride-sharing app developer that’s been causing a headache to Uber, has raised the largest venture round of all time with $7.3bn in combined equity and debt financing.

Verto Analytics in a $16.1m series B round from Finnish Industry Investment and also featured EQT Ventures, a private equity firm that closed a government-backed fund earlier this month, Conor Venture Partners, Open Ocean Capital and Vision+.

The university world saw a $33m series B round for Rockefeller University spinout Rgenix, co-led by Novo and Sofinnova Partners.

Exits

Imperial Innovations, the commercialisation firm spun out of Imperial College London, exited Alkion Biopharma, selling its stake to chemical producer Evonik Industries.

DraftKings and FanDuel are considering a merger. Of course FanDuel is a spinout of Edinburgh University.

Funds

Gilde Healthcare, an investment firm focused on, surprisingly, the healthcare sector, has closed its $280m Gilde Healthcare IV fund with Philips as a cornerstone investor.

High-Tech Gründerfonds’ $338m fund, which so far is yet to attract any external commitments, made the headlines.

Monash and Melbourne Universities meanwhile have joined forces with the state of Victoria to launch a $59m biomedical research enterprise called M2 Venture Catalyst.

People

BPIfrance, the public investment bank of France, has promoted Florent Debienne to managing director. He had previously been investment director since November 2013.

Mony Hassid, managing director of Qualcomm Ventures in Israel, meanwhile has left that job to be a general manager at Microsoft Ventures also in Israel.

Deborah Hopkins, Citi’s chief innovation officer and CEO of Citi Ventures, its corporate venturing unit, will retire at the end of the year. She took home a GCV Award in January at our Global Corporate Venturing and Innovation Summit in California and will leave big shoes to fill.

Interview

Toby Lewis talks to Frode Odegard, chief executive of Lean Systems Institute about the post-lean world.


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