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

04 April 2016 – LeSports, Yiguo, Betterment, Jucero, Emulate, M-Files, IDG Ventures India, IBM Ventures, Siemens Venture Capital, Imperial Innovations, Oakland University and more

Deals

In the corporate venturing world, the biggest deal happened in China, where sports media company LeSports closed a massive $1.2bn round backed by HNA Group.

Another seemingly big round was closed by online grocer Yiguo, which didn’t reveal an amount but boasted that it’s larger than its competitor Womai’s $220m series C round in October last year.

Robo-advisor Betterment meanwhile attracted $100m in series E funding, more than doubling its total capital to $205m.

Juicero, an organic juice company backed by conglomerate Alphabet and food producer Campbell’s Soup, has boosted its total funding to $100m after attracting $70m for its series B round.

Biotech Emulate, which is working on organs-on-chips technology, secured the week’s most cash with a $28m series B round.

Finland-based document management company M-Files meanwhile raised $36m in its series B, which was backed by government-owned investment firm Finnish Industry Investment.

Exits

IDG Ventures India was less interested in investing and is instead considering selling its remaining stake in e-commerce Flipkart. IDG Ventures never actually invested in Flipkart, but gained shares when Flipkart bought its portfolio company Myntra, a fashion e-commerce business, for some $300m in 2014.

Funds

Infuse Ventures is seeking $150m for a new fund dubbed Bharat. Infuse’s backers include oil company BO, oleochemicals manufacturer Godrej Industries and World Bank subsidiary International Finance Corporation.

Germany announced two new funds totalling more than $810m. The two funds have been launched by Germany’s federal ministry for economic affairs and energy, the European Investment Fund and development bank KfW. The cash is split across a $252m Coparion Fund and a $560m ERP/EIF Growth Facility.

Japan has announced its intention to invest more than $1bn through four university venture funds. Tokyo University is set to receive the largest chunk with $450m and plans to use most of the money for a fund of funds.

People

IBM has announced that George Ugras will replace Claudia Fan Munce as managing director of IBM Ventures.

Mike Majors is leaving Siemens Venture Capital, where he co-founded a $100m Industry of the Future Fund, to become managing partner at venture firm Data Point Capital.

Martin Knight stepping down from his position as executive chairman of Imperial Innovations.

Oakland University appointed Michael Long as its new tech transfer mentor-in-residence for IP development and commercialisation.


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