27 August 2018 – Walmart Completes $16bn 77% Acquisition of Flipkart

Exits

Walmart has completed its $16bn acquisition of a 77% stake in Indian e-commerce marketplace Flipkart, as part of an ongoing drive into e-commerce that has involved investments in JD.com and Dada-JD Daojia and full acquisitions of Jet.com and Bonobos among others.

China-based immunotherapy developer I-Mab Biopharma raised $220m just a few weeks ago in a series C round featuring corporate venturing unit Tasly Capital, but is reportedly eyeing a $500m initial public offering set for Hong Kong.

The biggest player in China’s news aggregation sector is the Bytedance-owned Toutiao, but newcomer Qutoutiao is making ground fast and has filed for its own IPO, which has a $300m target and which is set to occur in the US.

Live event promotion and ticketing software provider Eventbrite has filed to raise up to $200m in an IPO that will give Square an exit less than a year after it invested as part of an agreement that will make it Eventbrite’s payment processor in some of its biggest markets.

High-end fashion marketplace Farfetch has meanwhile raised more than $700m in funding, and is set to go public after filing for a $100m IPO in the US.

Ascentage Pharma has also raised a big round lately, pulling in $150m in its series C round last month, and its IPO plans seem to be going smoothly.

Ant Financial closed an immense $14bn of funding in June at a reported $150bn valuation, but a forecasted IPO for company, e-commerce giant Alibaba’s financial services spinoff, has now been put back until the end of 2019 at the earliest according to the FT.

Amazingly, that aforementioned flotation of Ascentage was neither the only nor the biggest exit on Global University Venturing – despite the summer holidays! – with an up to $800m acquisition of University of Bristol spinout Ziylo by pharmaceutical firm Novo Nordisk towering over everything else.

Deals

Alibaba acquired food delivery platform Ele.me in May at an enterprise value of $9.5bn, and its latest financial statement reveals it has merged the service with its local services spinoff, Koubei.

Slack has secured $427m in a series H round co-led by Dragoneer and General Atlantic at a valuation exceeding $7.1bn.

Car sharing platform Getaround has become the latest company to raise big money in a SoftBank-led round, taking in $300m from a series D round that included existing backer Toyota.

Primary healthcare service One Medical has raised $180m in funding from investors including GV, and three years after its last round, Carlyle Group has now come in for a $350m primary and secondary investment.

CassTime Technologies, a China-based provider of car servicing and parts to corporate clients, has raised $36.4m to increase its series B round to $95m.

Latch has developed a smart access system for buildings and has secured $70m in a series B round led by Brookfield Ventures, the venture capital arm of Brookfield Asset Management, which will begin installing the systems in buildings being developed by its Brookfield Properties subsidiary.

Upgrade has put together an online offering that combines consumer credit with credit monitoring and financial education tools. It was founded by Renaud Laplanche, also the founder of online lending platform LendingClub (a $1.6bn market cap at present), and it’s moved quickly having just closed a $62m series C round led by CreditEase Fintech Investment Fund.

Funds

Latitude Venture Partners, the Indonesia-based venture capital and business development vehicle affiliated with conglomerate Sinar Mas, has secured $200m in capital.

Drone Fund, the Japan-based venture capital firm that targets unmanned aerial vehicle technology, has now secured telecoms firm KDDI, game producer Sega Sammy, price comparison platform Aucfan, engineering consultancy Japan Asia Group, education provider Leave a Nest and Canal Ventures, the investment arm of systems integrator Nihon Unisys, among others, as limited partners in a fund that is targeting a $27m to $45m final close by the end of September.

Dating platform Bumble has launched a corporate venturing fund that will concentrate on female-founded and female-led businesses.


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

09 July 2018 – Telstra Ventures Partners HarbourVest to Create Investment Vehicle

Funds

Telstra Ventures has had some big exits in the past four years including IPOs for Snap, DocuSign and Box, but the unit is now electing to reshape itself by forming a partnership with private equity firm HarbourVest that will create a $500m investment vehicle.

Malaysia-based conglomerate Sunway is raising $50m for a venture capital vehicle called Sun Sea Capital that will invest in early-stage Southeast Asian tech companies.

Tokyo Electric powers up new unit

Université PSL assembles deep tech fund

Deals

Altana adds funding to Landa Digital Printing

American Well last received funding in January this year when Allianz invested $59m in connection with a strategic partnership, but the telehealth platform developer has now raised a further $291m of a planned $315m funding round according to a securities filing.

I-Mab Biopharma was formed in March last year from the merger of immunotherapy developers Third Venture Biotech and Tasgen Bio as well as $150m in series B funding from corporate Tasly Pharmaceuticals and C-Bridge Capital.

Trax has developed a computer vision-based platform that uses photos taken by mobile devices to assess retail displays, and the Singapore-based company has secured $125m in funding from investors including DC Thomson.

Small business-focused lending platform Furongbao last raised funding in a 2015 series A round featuring SoftBank’s SBCVC unit, but it’s now added to that with a reported $120m in series B funding that was provided by a single undisclosed investor.

Aikucun, the operator of a service that enables fashion brands to sell excess inventory to online merchants, has raised $87.5m in a Legend Capital-led series B round that included Xiamen C&D Corp and Eastern Bell Venture Capital.

Airwallex accesses corporates for $80m

Corporates get in Bind for $70m round

BitSight builds $60m series D

BrightFarms reaps $55m in series D cash

Haifeng hits up TAL Education for cash

Comcast goes Away again in $50m round

One of several up-and-coming insurance providers, Bought By Many started life as a platform that enabled those wanting specialist insurance options to band together for discounted rates from providers. Now however, it’s moving into offering that cover itself, and has raised $19.8m in a CommerzVentures-led series B round that included Marsh and Munich Re.

XL Innovate goes Windward in series C round

Cerebri celebrates $5m series A

Manus Bio makes series A breakthrough

Xcelerator embraces first cohort

Exits

Uber has already merged its businesses in China, Southeast Asia and Eastern Europe with local operators, and next on the block could be its Middle Eastern operations. The company has opened talks with Careem, the MENA-based operator that is backed by a host of corporates and which is currently raising cash at a $1.5bn valuation, but reportedly favours an outcome in which it will take a majority stake in any merged company.

BP fuels BMW exit with Chargemaster acquisition

Cloud-based business management software provider Domo has gone public in a $193m IPO that allowed WPP and Salesforce to exit.

Forty Seven fetches $112m in IPO

Neuronetics, the developer of a device that uses magnetic stimulation to treat psychiatric disorders, has closed its initial public offering at $107m after the IPO’s underwriters exercised the over-allotment option.

Hong Kong may be surging but the US is still proving to be the destination of choice for many Chinese tech companies looking to go public.The latest is group buying platform Pinduoduo, which has filed for a $1bn initial public offering that would allow Tencent to exit.

Liquidia Technologies is among the life sciences companies aiming for the public markets. Liquidia, which is developing therapeutics based on its particle engineering platform, has filed to raise up to $57.5m in its IPO.

IndiaMart formed its business-to-business e-commerce marketplace back in 1996 and received its first corporate investment in 2007, and now it’s finally looking to go public.

Hujiang to graduate to public markets


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