13 February 2017 – Used Vehicle Marketplace Uxin Raises $500m and Much More

Deals

Mobile wallet operator Mobikwik has raised more than $120m from an investor base that includes corporates Net1, Cisco, American Express, GMO and Mediatek, and is currently in talks with investors for a round that could value it at up to $1bn, CEO Bipin Preet Singh has told Reuters.

View has been developing its Dynamic Glass, which tints to help control light and temperature in a building, since 2007 and has now added $100m in funding in a round that included $50m from Nuveen affiliate TIAA Investments.

Urban logistics services provider Shansong Express has raised $50m in a series C round co-led by SIG Asia that will be spent on growth and product development.

Alphabet subsidiary GV has led a $45m series C round for metal 3D printing technology developer Desktop Metal that included fellow corporate venturing units BMW i Ventures and Lowe’s Ventures. Desktop Metal, now valued at $350m according to the Wall Street Journal, has raised approximately $97m in total and its previous investors include General Electric and Saudi Aramco.

Mojo Networks, a 13-year old company that provides cloud wifi services to large businesses, has raised $30m in series E equity financing and debt, with strategic partner Alpha Technologies among the participants.

Cisco Investments has co-led a $30m series C round for Exabeam that took the cybersecurity platform developer’s overall funding to $65m.

On Global University Venturing we’ve had Tsinghua Holdings, a subsidiary of Tsinghua University, leading an $18m series B round for THG Ventures, a China-based cancer diagnosis and therapy company.

We also have Leeds University, which has spun out Dietary Assessment, which has developed a tool to enable researchers and health professionals to monitor diet and analyse food and drink consumption with a view of helping reduce diet-related conditions such as diabetes.

Indiana University meanwhile has established Digital Health Solutions to exploit a software that helps paediatricians make better use of electronic health records by collecting and analysing questions about a child’s health and flagging potential health issues.

On GGV, India-based online automotive classifieds service CarTrade, has raised $55m in funding co-led by Singaporean government-owned investment firm Temasek.

Funds

Legend Capital, the Chinese venture firm sponsored by Lenovo owner Legend Holdings, has raised $243m for a fund it is looking to close at $375m, according to a regulatory filing.

In Southeast Asia meanwhile, ride ordering service Grab has committed to providing at least $100m for Indonesia-based startups as part of a $700m investment initiative in the country.

Indian consumer electronics producer Micromax is set to the be the anchor investor in a venture capital fund called Orbis Capital, and is in the process of securing limited partners that will increase the fund’s size to $100m.

Frontline Ventures, a VC firm based in the UK and Ireland, closed a €60m ($65m) fund on Tuesday with support from investors including the European Investment Fund.

Greece on Monday launched a call for financial institutions and private investors to participate in its VC fund Equifund.

Government-owned export credit agency Enterprise Ireland’s €175m ($185m) seed and venture capital programme, the state-owned €8bn Ireland Strategic Investment Fund and the European Investment Fund have committed capital to VC firm Seroba Life Sciences’ €100m third fund.

And finally, Russia Direct Investment Fund, the country’s government venturing arm, has said it expects more than $1bn in additional funding by the end of 2017 as its peer Qatar Investment Authority pledges to increase the size of its co-investments alongside RDIF.

Exits

Kuaishou, the China-based developer of a photo and video-sharing app similar to Instagram and Snapchat, is planning an IPO in the US in the second half of 2017, undisclosed sources have told TechCrunch.

Sophos has agreed to acquire Invincea in a deal that will give an exit to Dell Ventures, just three months after the unit took part in a $10m round for the anti-malware software developer.

Detsky Mir, a Russia-based children’s retailer backed by the Russia-China Investment Fund (RCIF), raised 21.1bn rubles ($355m) yesterday in its initial public offering on the Moscow stock exchange. RCIF is a joint initiative between sovereign wealth funds China Investment Corporation and Russian Direct Investment Fund.


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

23 January 2017 – $20m Series B-1 for Moon Express, Rocket Internet Capital Partners Fund Closes at $1bn and Much More

Deals

Chinese used vehicle marketplace Uxin has raised $500m in new funding, making it only the latest player in the sector to close a nine-figure round.

Mobile commerce platform Letgo has taken its overall funding to $375m since the start of 2015 with a $175m round backed by early investor Naspers.

Zoom Video Communications has launched the latest iteration of its cloud-based video conferencing platform and disclosed a $100m series D round that values it at more than $1bn.

Workspace provider UrWork has raised $58m from investors including property developers Junfa Group and Dahong Group in a round that reportedly increased its overall equity financing to about $175m.

Marketing data provider AppsFlyer has welcomed Deutsche Telekom Capital Partners as a new investor, completing a $56m series C round in the process.

InsideSales, developer of an AI-equipped online sales engine, has taken its overall funding to about $250m with a $50m series E round featuring existing backer Microsoft and new investor Ireland Strategic Investment Fund, the investment arm of the Irish government.

Tencent has led a $40.5m series D round for Xiaoshouyi, which is developing a customer relationship management platform not too dissimilar to that of Salesforce.

Moon Express is one of several companies competing for the $20m grand prize of Google’s Lunar X-Prize contest, and has raised $20m in series B-1 funding in a round featuring Autodesk.

Amra, a personalised medicine spinout of Linköping University, raised $9m in a series A round on Tuesday from investors including Stiftelsen Industrifonden, the investment arm of the government of Sweden.

Exits

ObsEva, a Swiss developer of therapies focused on women’s reproductive health, has set terms for a Nasdaq IPO that will raise approximately $97m if the company floats at the middle of the range.

Hewlett Packard Enterprise is set to acquire data centre software producer Simplivity in a $650m cash deal that will provide an exit to corporate backer Swisscom.

International Data Group, one of the earliest firms to invest heavily in corporate venturing, has agreed to an acquisition by conglomerate China Oceanwide and IDG Capital, one of its own venture capital affiliates.

Cambridge Graphene, a graphene ink developer spun out of Cambridge University, has been acquired by advanced materials company Versarien for a total of £170,000 ($210,000), providing an exit to the institution’s tech transfer office Cambridge Enterprise.

Funds

Rocket Internet has closed its Rocket Internet Capital Partners fund at $1bn, a year after it reached its $420m first close.

Elsewhere in China, Concord Medical Services, the owner of a chain of radiotherapy and diagnostic imaging centres across the country, has formed a $150m healthcare fund in partnership with investment firm Zhongrong International Trust.

Speaking of healthcare funds, life insurance company Northwestern Mutual has launched a $50m corporate venturing vehicle called Northwestern Mutual Future Ventures it says will target technology or services that can boost financial security.

CreditEase, the owner of peer-to-peer lending platform Yirendai, has raised $32.2m for the first close of a venture capital fund that will invest in Israeli tech startups.

Paris-Saclay University this week achieved the first close of its €50m ($53m) seed fund thanks to contributions from investors including France’s public investment bank Bpifrance.

The Technology Transfer Strengthening Initiative (TTSI), a program introduced by export credit agency Enterprise Ireland and managed by Knowledge Transfer Ireland (KTI), has received a €34.5m ($37m) boost from Enterprise Ireland.

The city government of Suzhou in China and private equity firm Shenzhen Capital Group have partnered to launch a RMB5bn ($732m) initiative dubbed Suzhou Hongtu Big Data Venture Capital Fund, China Money Network reported yesterday.

Bpifrance, the public investment bank of France, is the international leader for government venture capital firms backing technology companies, according to a report from research firm CB Insights.

Temasek, the investment arm of Singapore’s Ministry of Finance, came in second place, while GIC, the investment unit of Singapore Investment Corporation, rounded off the top three.

What’s interesting here, of course, is that the UK is sorely missing from the list. That’s in the same week that the country’s prime minister Theresa May said she would put immigration restrictions above the economic wellbeing of the country and is ready to walk away from the EU without any deal in place.


“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

9 January 2017 – Welcome to 2017 with Bike Sharing Deals, Fund backing from Apple and Much More

Deals

Easy Life Financial Services, a tourism-focused financial services spinout of aviation and travel conglomerate HNA Group, has raised approximately $273m in series B+ funding from a string of Chinese investors.

Bike sharing looks likely to be a big area for VC funding in 2017, and China’s Mobike, which raised more than $100m in autumn last year, has followed it up with a $215m series D round co-led by existing backers Tencent and Warburg Pincus.

China-based iCarbonX is looking to build a what it calls an online ecosystem of digital life, and has raised about $200m of funding from investors including Tencent. It has also provided almost $400m of funding from its ecosystem for seven members of its Digital Life Alliance.

Electric bus producer Proterra has raised $140m from investors including Edison Energy and the corporate venturing subsidiaries of General Motors and Exelon.

Cancer test developer Grail spun out of genomics producer Illumina a year ago with $100m in funding that was quickly upped to $125m.

Tasly Pharmaceuticals took part in the $55m series A round closed by liver disease treatment developer Ascletis at the end of 2015, and has come back for its $100m series B.

Online investment manager Nutmeg took its series D round over the $50m mark with a £12m investment by Fubon Financial Holdings.

There have been a few big deals on GlobalUniversityVenturing.com and GlobalGovernmentVenturing.com as well. An intriguing crossover is a $40m series A round for Therachon, a Switzerland-based biotech developer focused on rare genetic diseases such as short-limbed dwarfism, thanks to a $5m extension that featured Bpifrance, the public investment bank of France.

Funds

News emerged last month that Apple could chip in up to $1bn for SoftBank’s $100bn Vision Fund, and that news has now been confirmed along with reports that fellow corporates Qualcomm and Foxconn are also set to invest.

Samsung’s mooted $1.1bn Next47 fund is yet to announce any investments but the same can’t be said for Samsung Next Fund, a $150m initiative announced by the corporate this week.

The cleantech-focused $52m Icos Capital Fund III meanwhile has received commitments from the city of Rotterdam as well as corporates Wuppermann, Bühler and AkzoNobel to achieve a first close.

International Finance Corporation is one of 65 limited partners that have backed SOSV’s third fund, doubling the firm’s total assets under management to $300m.

The European Investment Fund (EIF), the investment arm of EU agency European Investment Bank, and Cassa depositi e prestiti (CDP), the state-owned national promotional institution of Italy, have joined forces to launch Itatech with €200m ($208m).

Greece’s Ministry of Economy and Development has signed an agreement with the European Investment Fund (EIF), the investment arm of EU agency European Investment Bank, to establish a €260m ($270m) fund of funds.

And EU agency European Investment Bank (EIB) has achieved a final close of its third Lebanon-based Euromena private equity fund, managed by Capital Trust Group, at $150m.

Exits

Jounce meanwhile is developing antibody-based immunotherapy treatments for cancer, and has filed for a $75m IPO.

Sogou, operator of China’s third most popular search engine, is looking to float in the US at some point later in the year at a valuation of up to $5bn, CEO Wang Xiaochuan has told Bloomberg.

A sadder exit came for Scottish Investment Bank, the investment arm of economic development agency Scottish Enterprise, which saw portfolio company TeamRock collapse just three months after making a £2m investment.

People

Neil McGregor, senior managing director at Temasek, the investment arm of the government of Singapore, will depart on March 31 to join Sembcorp Industries as chief executive and group president. McGregor has been Temasek’s head of energy and resources, head of Australia and New Zealand since he joined in June 2014.


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

19 December 2016 – $225m for BlueRock Therapeutics, Microsoft Ventures Invests from its AI Fund and Much More

Deals

Bayer and investment firm Versant Ventures have jointly provided $225m in series A funding for a regenerative medicine startup called BlueRock Therapeutics.

Symphony emerged two years ago with $66m from 14 banks and followed that funding up with a $100m Google-backed round last year. Now the company, which offers a secure messaging platform for use in the financial services industry, is in the process of raising between $125m and $200m at a pre-money valuation north of $1bn.

SenseTime, which provides deep learning technology to Chinese corporates, has secured $120m in a round that included Dalian Wanda Group and existing backer IDG Capital.

Podotree, the Kakao affiliate that deals with the social media company’s online publishing offerings, has raised $107m in funding from investors including Anchor Equity Partners and GIC at a reported valuation of about $428m.

JetSmarter has big ambitions to become the Uber of private jet travel, and has just raised $105m in series C funding at a $1.5bn pre-money valuation.

Virtual reality gaming company Survios has raised $50m across two rounds, the latter of which was led by MGM.

Sonendo, the developer of a teeth cleaning system for use in root canals, has secured $35m from investors including Henry Crown and Company affiliate CVF, bringing its overall funding to near $110m.

BillFront, a provider of finance for media companies that may face delays in recouping advertising revenue, has raised $35m in a series A round consisting of debt and equity.

Holiday accommodation rental aggregator Tripping.com has received $35m in series C funding, with investment firm Princeville Global leading the round.

Oxford Nanopore has raised additional funding after announcing earlier this month that it had become the first company to sequence multiple human genomes using portable technology.

Edotco, a Malaysia-based telecoms infrastructure services provider, has amassed $600m from investors including Malaysia’s sovereign wealth fund Khazanah Nasional. Khazanah Nasional made the investment via a secondary equity private placement offering of $200m, while public-private partnership Innovation Network Corporation of Japan (INCJ) contributed through a $400m primary offering.

Funds

Microsoft Ventures only resumed making direct investments in May but has already racked up 19 deals since, including contributions to rounds for Tact, Dynamic Signals (see below for both) and Element AI, the last of which is the first investment to be made from a dedicated artificial intelligence fund which the unit has just formed.

Not long after it confirmed that its $100bn Vision Fund would be headquartered in London, news emerged that SoftBank is in talks with Apple over a $1bn investment in the vehicle.

Oxford Sciences Innovation (OSI), the university venturing fund of Oxford University, on Friday raised an additional £230m ($290m) from investors including the institution’s endowment fund to bring its total to £580m.

IP Group takes Parkwalk for $12m. The intellectual property investor could pay an extra $12m to buy Parkwalk if the spinout-focused fund manager meets certain key targets.

Sigmar Gabriel, minister of economy for Germany, and his French peer Michel Sapin yesterday revealed a €1bn ($1.1bn) fund aimed at startups in the two countries.

Exits

2016 has been a bad year for a lot of people but in the venture capital space it’s been a worse year than most for Rocket Internet, which is continuing to consolidate its holdings.

Meitu, the Chinese creator of a photo modification app for social media, has raised just over $600m in one of the year’s biggest tech IPOs, giving exits to Sina Weibo, Foxconn and IDG Capital Partners.

Garena, the most highly valued startup in Southeast Asia as of a $170m round in April that valued it at $3.75bn, has reportedly begun talks with banks over a prospective IPO in the US in 2018 that could raise around $1bn.

Germany-based medical device manufacturer Gilupi was acquired yesterday by its investor and strategic partner Viroad, a China-based biotechnology company, for an undisclosed sum.

People

Maryland University at College Park (UMD) has appointed Julie Lenzer, former senior advisor to US Secretary of Commerce Penny Pritzker, to two key roles as part of its efforts to bolster innovation.

State-owned investment firm Finnish Industry Investment (FII) announced the promotion of Jan Sasse, head of FII’s Growth Investments team since June 2015, to president and CEO yesterday.


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

12 December 2016 – Tinder creates Swipe Ventures, Australia launches $150m Csiro fund and Much More

People

Mary Kay James, previously a managing director at DuPont Ventures, has joined Tyson Foods as the US-based meat processor unveils a $150m corporate venturing unit dubbed Tyson New Ventures.

Mike Dimelow, former vice-president of strategic business development at semiconductor technology developer Arm, has left to co-found a venture capital firm called Accelerated Digital Ventures (ADV).

University Corner

CIC names Williamson investment director.

Cambridge alumnus Williamson has joined the university venturing fund after 20 years in the US, most recently at True North Venture Partners.

Funds

Back in October, SoftBank partnered the government of Saudi Arabia’s investment arm Public Investment Fund for a $100bn fund. SoftBank has hit some troubles since then, booking a $555m loss from its Indian portfolio last month, but that doesn’t seem to have reduced interest in the SoftBank Vision Fund, which the internet group’s CEO Masayoshi Son has now said is set to be oversubscribed.

Ascension’s corporate venturing subsidiary has closed its fourth fund at $255m thanks to the support of 13 corporate peers.

Wistron, a Taiwan-based original design manufacturer, has joined the ranks of corporate venturers with a $20m fund that it set up in partnership with US-based VC firm Fenox Venture Capital.

Tinder, the dating app that connects users with each other once they’ve both swiped right on each other’s profile, is jumping into the corporate venturing world with Swipe Ventures, a unit that will be headed by Sean Rad, up until now the CEO of Tinder.

PSA enters Business Lab. The car manufacturer is set to conduct corporate venturing activities through the new unit.

Maris boldly goes to $230m fund. Bill Maris, co-founder of GV who left the unit earlier this summer, is raising a $230m fund that will focus on the healthcare sector.

Partech concludes $107m fundraising effort.

University Corner

The tech transfer office and Parkwalk Advisors launched the latest $3m Enterprise Fund just ten months after Fund IV was opened to investors.

Government Department

Australia launches $150m Csiro fund

Ben Franklin boosts startups in Philadelphia with $6m

Exits

Meitu, the developer of an app that lets users retouch their selfies, initially targeted up to $1bn in proceeds from an initial public offering in Hong Kong when it filed in August 2016. That target has dropped several times since, first to $800m last month and now to $629m. The company had obtained approximately $500m in total funding from investors including corporates Sina Weibo and International Data Group, but has struggled to monetise its offering and in the first half of the year posted a $40.5m loss.

SportsHero is taking a different approach to the stock exchange, as the company prepares a reverse takeover with its shareholder Nevada Iron, an Australia-listed mineral extraction company.

Trivago books IPO trip.

AbbVie is celebrating an exit thanks to Sienna Biopharmaceuticals which has acquired biotech company Creabilis for up to $150m.

Cinepapaya dances the Fandango.

Paktor picks up 17 Media.

Beepi, a peer-to-peer used car marketplace, appears to have collapsed after a strategic investor – reportedly Saic Motor – decided to pull out.

Government Department

Bpifrance loses $20m with Viadeo collapse.

Creo collects $25m ahead of Aim flotation.

University Corner

Citim materialises acquisition.

Investments

GE spins out Menlo Micro with $18.7m

VW mobilises spinout Moia

Face++ recognises $100m for series C

Juhe.cn computes $52m series C

Finicity aggregates $42m series B

SnapLogic has added a $40m series F round to its coffers just a year after Microsoft took part in a $37.5m series E.

KeyMe doesn’t look like it is having any trouble securing cash. The digital locksmith technology developer, which lets users scan their keys and upload them to the cloud to print copies at kiosks, has added $25m in funding.

3M’s portfolio company Impel Neuropharma has signed up investors for a $36m series C round, for which it has obtained an initial $21m and will receive the remainder upon reaching certain milestones.

University Corner

Spinouts: a marriage made in heaven – or hell?

Government Department

Lumos Global glows with record $90m fundraising.


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

5 December 2016 – HTC $1.45bn VR Fund, BMW Increases Fund to €500m and Much More

Covering the week’s venturing news including funding, investments, exits and people moves.


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

14 November 2016 – Imax VR Fund, Space Mining for Luxemburg and Much More

News

Walgreens sues portfolio company Theranos for $140m

Alphabet rebrands Google Capital as CapitalG

Funds

Ten oil their way to $1bn fund

Imax screens partners for $50m VR fund

University Corner

Ramot harnesses corporates for $20m investment initiative

Huawei visits Singapore for IoT incubator

Government Department

Planetary Resources mines Luxembourg for new funding

Exits

ZMP drives forward to IPO

Intel votes for Voke acquisition

SoftBank writes down $555m of Indian unicorn investments

Investments

Bytedance looks to take $1bn step forward

Suning gets fresh with Yiguo in $200m round

Bonobos talks to investors for $100m round

Warmsun heats up Royole with $74m

GV accelerates Acalvio funding to $22m

Gfresh catches $20m from Alibaba and Legend Holdings

Owlet looks after $15m


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

7 November 2016 – Alibaba cultivates $1.5bn Fund, $100m First Fund for Keen and Much More

People

Lak Ananth has left US-based technology company Hewlett Packard Enterprises (HPE) to join Germany-based conglomerate Siemens as managing partner of its €1bn ($1.1bn) Next47 corporate venturing unit.

Markus Solibieda has left private equity firm Mandarin Capital Partners to become managing director.

Funds

SoftBank to make space in its Vision for Mubadala

Alibaba to cultivate $1.5bn fund

Kuang-Chi adds $250m to CVC investment capacity

Portag3 secures trio of limited partners

Canada-based venture capital firm Relay Ventures closed its third fund with a total of C$200m ($150m) in commitments from limited partners including mobile network operator US Cellular.

Hain Celestial to cultivate startups

Keen raises peachy $100m for first fund

Annexus seeks exits from corporate venturing vehicle

Government Department

Armenia to gain $55m fund

Exits

Intel Capital president to shrink portfolio 25%

Investments

Ola aims for $600m in new funding

Wish sets its heart on $500m

Searchable GIF database Giphy raised its first capital, a $2.4m CAA-backed round, in early 2014 but less than three years later the company has taken its total funding to more than $150m in a $72m series D round that reportedly values it at $600m.

Artificial intelligence technology startup Graphcore has scored $30m in a series A round led by Robert Bosch Venture Capital.

University Corner

UBiome builds $22m series B habitat


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

31 October 2016 – Intel Capital invests $38m in 12 startups, MIT creates an Incubator called Engine and Much More

Investments

Chinese personal finance management platform U51 raised $310m in its series C round less than a month ago but has already added $84m from retail group InTime Commercial and asset manager Harvest Global Investments.

NBCUniversal invested $200m in Buzzfeed last year in a deal that valued it at $1.5bn post money, and it’s returned to add another $200m at a flat valuation.

Meanwhile, Unity Biotechnology, which is working on therapeutics for diseases relating to aging, such as osteoarthritis, glaucoma and kidney disease, has closed a $116m series B round.

And at the Intel Capital Global Summit, the CVC unit announced $38m of investment in 12 startups across the US, Canada, China and France.

One of those 12 deals was a $33.5m series D round closed by self-service business information platform developer Paxata, which Intel Capital led, taking the company’s total funding to $62m.

Rokid, the developer of an AI-equipped smart home device that can be operated by a user’s voice or physical gestures, has raised $65m in a series B round co-led by IDG Capital Partners, which was also among the investors in a $20m round last year.

Genomics Medicine Ireland, which is developing a genomics research platform based on work by Amgen subsidiary Decode Genetics, has raised $40m in a GV-backed series A round.

Emulate, a Harvard spinout developing organs-on-chips technology, has added $17m to a series B round now totalling $45m.

Precision Biopsy, a biotechnology spinout of Colorado University, yesterday expanded its series A round to $38.6m following a $5m extension supplied by investment firm Woodford Investment Management.

Deep learning technology startup Clarifai, a spinout of New York University, has received $30m in a series B round co-led by Qualcomm Ventures.

Funds

US-headquartered property consulting firm Jones Lang LaSalle has established a corporate venturing vehicle in India that will invest in real estate technology startups.

Russia-based textbook publisher Prosveshcheniye has agreed to launch an education technology accelerator with the Russian government’s Internet Initiatives Development Fund (FRII).

Nova Scotia has recapitalised the Nova Scotia First Fund with a total of $40m, with $29m being fresh funding and $11m coming from a cleantech fund that expired earlier this year.

L. Rafael Reif, president of MIT, announced the creation of the Engine, a new incubator that will provide funding initially through a vehicle with a target size of $150m.

Exits

Less than five months after it was spun out of Roivant Sciences, women’s health specialist Myovant Sciences has achieved the year’s biggest biotech IPO so far, raising $218m.

Ra Pharmaceuticals, developer of a blood disorder treatment, has raised almost $92m in a Nasdaq IPO that saw it float in the middle of its range.

Internet group Tencent and healthcare system Intermountain Healthcare have exited US-based genomics software developer Tute Genomics in an acquisition by genomic analysis company PierianDx, which paid an undisclosed amount.

Cybersecrity company Proofpoint has agreed to acquire US-based cloud security platform FireLayers for $55m, offering an exit to content delivery network operator Akamai Technologies.

Eyefluence, a US-based eye-movement tracking technology developer backed by corporates including chipmaker Intel, was acquired by internet technology provider Google yesterday.

Stanford University spinout iRhythm Technologies, a developer of arrhythmia diagnostics technology, went public on Nasdaq on Thursday in an initial public offering that valued the company at $107m.

People

Scott Coleman, formerly general manager of technology company Microsoft’s accelerator network Startup Growth Partners, has joined venture capital firm Ignition Partners.

Baochi Nguyen has joined IDG Ventures, the corporate venturing arm of US-headquartered IT media firm International Data Group, as vice-president of marketing.


“Funky Chunk” Kevin MacLeod (incompetech.com)
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