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

19 September 2016 – Clear Vision Investment, A Fund for Baidu and Russian State Exits plus much more

Deals

AcuFocus, developer of a medical device that improves near vision, has raised $66m in a KKR-led round.

Microprocessor and system-on-chip technology developer Soft Machines came out of stealth mode in late 2014 with $125m from investors including AMD and Samsung, and has raised almost $175m from backers also including GlobalFoundries.

3D printing technology developer Carbon has added $81m to the $100m in series C capital it raised in August 2015, taking its overall funding to $222m.

Protein motion drug developer Relay Therapeutics has launched with $57m of funding partly supplied by biochemistry researcher DE Shaw.

A nice crossover between corporate, government and university came from France, where Eyevensys achieved a final close of its series A at $10m.

Funds

Baidu is looking to launch of a CVC unit called Baidu Venture that will target AI, virtual and augmented reality technology, and Baidu is initially looking to raise $200m to invest.

Sapphire Ventures broke off from its old parent company SAP in 2011 and officially changed its name from SAP Ventures three years later, but that doesn’t mean the two are strangers. SAP has just provided $1bn of capital for Sapphire.

Speaking of big funds, GV co-founder Bill Maris is reportedly in talks with investors for a new venture firm and is said to be targeting between $350m and $500m for its first fund.

Canada’s government has awarded $5m to the Capital expansion région Thetford fund for a venture capital vehicle that will support entrepreneurs in Quebec county Les Appalaches.

Canada-based VC firm Information Venture Partners, which achieved a $96m second close of its latest fund.

Bpifrance backed the first $52m close of incubator iBionext’s $112m growth fund that should help the Parisian startup foundry set up quite a few more businesses.

UC Berkeley meanwhile put some cash into the House Fund, a $6m fund set up by its alumnus Jeremy Fiance, and Warwick University is hoping to open a Centre for Innovation at its upcoming California campus, modelled on its original, England-based tech transfer office Warwick Ventures.

Exits

Crispr has filed for an IPO.

LED sensor technology provider Sensity Systems has agreed to an acquisition by Verizon that will give exits to Cisco Investments, Acuity Brands, GE Ventures and Simon Property.

Naspers subsidiary PayU is set to acquire Indian mobile payment services provider Citrus Pay in a $130m all-cash deal that will give exits to eContext and Beenos.

Concur has agreed to buy travel price comparison platform Hipmunk, allowing Nokia Growth Partners, which invested an undisclosed sum in the company two years ago, to exit.

Intel has reportedly agreed to buy semiconductor technology developer Soft Machines in a $250m deal that will provide exits to two Russian state-owned entities.

ICICI Prudential Life Insurance Company, an insurance provider backed by Singapore’s sovereign wealth fund Temasek, is hoping to raise Rs60bn ($900m) in an initial public offering today, that is Monday, September 19.

One sadder exit we have to talk about unfortunately is online lifestyle media company Mode Media. While the unicorn carnage predicted by some at the end of 2015 has yet to manifest, that doesn’t mean there won’t still be casualties. Mode Media, valued at $1bn in a 2013 round when it was still known as Glam, shut down on Thursday after failing to find a buyer or investors willing to provide financing. Its investors included Hubert Burda Media, which invested $30m in 2015, shortly after forming a strategic partnership with Mode.

People

Imperial Create Lab, the innovation community of Imperial College London and its Imperial Innovations investment arm, revealed a host of changes: Mark Hammond and Dominic Falcão have left to focus on their incubator Deep Science Ventures. Falcão had been manager of Imperial Create Lab from September 2013. Hammond had been director since January 2012.

Also at Create Lab, Jack Owen, ecosystem builder since January 2016, left to become a postgraduate talent associate at incubator Entrepreneur First, which, as you might remember, closed a $53.7m fund backed by Imperial College London two weeks ago. The new Create Lab team will be made up of Liz Choonara, who has also Imperial College’s enterprise development manager since 2014, and Lauren Dennis, communications and activities intern.

Hearst Ventures president George Kliavkoff has departed to take the chief executive position at virtual reality content developer Jaunt.

And Rich Flynn, who stepped down from his position as president of Apollo Education Ventures in April, has joined Tyton Partners as managing director.

Law and policy

After German finance minister Wolfgang Schäuble blocked a startup boosting bill several months ago, the government has now agreed to provide tax breaks to VC investors, making it possible for them to reclaim potential losses.


“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

23 May 2016 – Johnson & Johnson, Invitalia, Geodesic Capital, Kaspersky, Slack Technologies, Intel and more

Funds

Four Singapore-based companies – real estate company CapitaLand, data centre provider DeClout, agribusiness Wilmar and logistics provider YCH Group – have been awarded S$40m ($29.2m) to back local startups.

Johnson & Johnson expands JLabs to Canada.

Invitalia boosts fund to $74.5m.

US-based venture capital firm Geodesic Capital closed its inaugural fund at $335m with an anchor investment from Mitsubishi Corporation, a member of Japan-headquartered conglomerate Mitsubishi Group.

Intesa Sanpaolo partners Quadrivio for $135m fund.

United Media commits to $305m Meridian Capital China fund.

Liberty Mutual forms $150m fund with August investment.

Russia-based cybersecurity software provider has launched a corporate venturing unit that will invest up to $1m in startups.

E.Ventures, the Germany-based venture capital firm that counts mail order and e-commerce company Otto Group as a major investor, closed a $150m early-stage fund.

Caterpillar Ventures, the corporate venturing arm of construction equipment producer Caterpillar, provided an undisclosed amount on Tuesday for the latest fund to be raised by Switzerland-based venture capital firm Emerald Technology Ventures.

People

US-based messaging platform Slack Technologies has hired Jason Spinell as an investor for its corporate venturing unit, Slack Fund.

Bernhard Gold has left T-Venture, a corporate venturing subsidiary of telecommunications firm Deutsche Telekom, to join France-headquartered venture capital firm Iris Capital as managing director of its North American office.

Deals

US-based flat panel display technology developer Kateeva completed an $88m series E round with contributions from several corporate investors.

Personal Capital, a US-based digital wealth manager that counts financial services firms BBVA and USAA as strategic investors, secured $75m in funding yesterday.

Exits

Private equity firms Coller Capital, HarbourVest Partners and Lexington Partners are among the prospective bidders for a venture capital portfolio set to be sold by semiconductor maker Intel for about $1bn.

Intel sells half its stake in Intrasoft.


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