26 September 2016 – Deals for LeEco and Airbnb, Finance Wales Launches Wales Business Fund plus much more

Deals

LeEco, has announced a $1.08bn funding round backed by Lenovo and Macrolink, and will use the funding to further develop LeSee, an autonomous electric car it is working on with Aston Martin and Faraday Future among others.

Airbnb has reportedly closed an $850m round.

Grab has picked up $750m in a SoftBank-led series F round.

U51.com, China-based credit card management platform backed by e-commerce company JD.com, has closed a $310m series C round that values it at $1bn.

Pay-per-mile auto insurance provider Metromile has been relatively quiet on the funding front, but all that changed yesterday when it disclosed $191m in equity financing it has received in the past two years.

Solar film producer Heliatek has secured some $89m in financing, including about $47m in series D equity funding that will be used to scale up its manufacturing capacity.

Funds

A total of 51 companies and institutional investors have collectively provided R1.5bn ($112m) of funding for a South Africa-based fund that will invest in small and medium-sized (SME) businesses.

Thailand-based financial services firm Kasikorn Bank will establish a strategic investment fund of undisclosed size during the fourth quarter of 2016 to invest in fintech services and products.

South Korean entertainment company Huayi Brothers, a subsidiary of China-based Huayi Brothers Media, is set to launch a $45m CVC arm to invest from as early as the end of the month.

Trumpf, a German industrial product manufacturer, launched a corporate venturing unit called Trumpf Venture which aims to build up a $45m portfolio over the next five years.

Baidu, China’s answer to Google, is reportedly putting together a $150m fund to invest in businesses developing content that could be distributed on its media offerings.

GE Healthcare has put together an accelerator called Five.Eight in order to back startups developing technology that can benefit patients in developing regions.

Australia’s industry minster Greg Hunt has hinted at a $380m fund, which would be the third VC fund launched through the country’s National Innovation and Science Agenda, following the $150m Csiro Innovation Fund and $380m Biomedical Translation Fund.

Finance Wales meanwhile officially launched its Wales Business Fund, a $177m investment vehicle that will provide equity and debt to businesses already located in Wales or willing to move there.

Vietnam also popped up on our radar last week with news that it is set to establish a government venturing fund to co-invest in local startups and help create more of an ecosystem.

International Finance Corporation is looking to invest $25m in Maison Capital’s inaugural US dollar-denominated fund, which is targeting a $200m close.

Exits

Corporates Itochu, Yahoo Japan, FISL and Kodansha are set to exit Uzabase, developer of an online business database and curated news app, in a flotation on the Tokyo Stock Exchange Mothers Market next month.

Dermatology product developer Novan has become the latest healthcare company to go public, raising $45m in a Nasdaq IPO.

People

Hearst Ventures, the corporate venturing unit of the eponymous US-based media group, which has restructured after the departure of its president, putting Kenneth Bronfin and Scott English in charge and building out its international network.

Andreas von Richter has left Ecomobility Ventures, the VC firm set up by Total, Orange, Peugeot and SNCF, to join another firm backed by a range of corporates, Aster Capital.

Jim Lussier, managing director and head of corporate venturing unit Dell Ventures, has left to run his own advisory and venture capital firm ahead of computer maker Dell’s merger with EMC.

Simon Johnson, previously senior investment executive at NEL Fund Managers, has joined Rivers Capital Partners as head of strategic debt funds.


“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

5 September 2016 – A look at Lidar, $1bn fund for UK Ministry of Defence and more

People

Renard heads west after SanDisk merger

Wang heads Tsinghua fund

Funds

Reliance pledges $750m for digital startup funding

Elevator advertising firm Focus Media prefers partnerships when it comes to corporate venturing and has agreed to put together a $750m fund with state-owned investment holding group China Everbright.

European insurance firms have been pretty active in the VC space, and ASR seems to be no exception, providing approximately $5.6m for Dutch impact investor Social Impact Ventures, which has closed its first fund at about $45m.

Rev1 fires up $22m Ohio fund

UK Ministry of Defence arms Iris with $1bn

Exits

Caterpillar and Volvo Construction Equipment are set to record decent sized exits from IronPlanet, an online machinery and equipment trading platform that Ritchie Bros Auctioneers has agreed to buy for about $758m.

Phagenesis, developer of a medical device to treat dysphagia, had raised about $20m from investors including Nestlé’s Inventages Venture Capital unit.

Nokia exits Citymaps as it folds into TripAdvisor

IT business management technology provider Apptio has filed for a $75m IPO, after raising more than $135m in venture funding.

Khan Academy catches Duck Duck Moose

Investments

Immuno-oncology startup Arcus Biosciences has revealed it has raised $120m across two rounds.

Yi Technology records $90m series A

Compass, the Advanced Publications-backed operator of an upscale real estate listings platform, has secured $75m in a Wellington Management-led round that took its total funding to $210m.

There have been several reports recently that One97 Communications, operator of online payment platform Paytm, is raising money, and now founder and CEO Vijay Sharma has confirmed that MediaTek subsidiary Mountain Capital has invested $60m at a $4.8bn valuation.

Shyft keys in $12.5m

Helix Sleep gets in bed with Simon Property

BBoxx packages $20m series C

NephroPlus cleans up $15m series C

Blackwood Seven broadcasts $15m round


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

29 August 2016 – University and Government Venturing Summer Catchup and more

Investments

One97 Communications, which has reportedly raised almost $1bn to date, most of which came after it formed mobile payment subsidiary Paytm in 2010. It’s now set to formally split from Paytm and has set up a separate entity for its e-commerce activities.

Snapdeal, which raised $500m in a round led by the Chinese firm last September. Snapdeal has just received $21m in funding from Luxembourg-registered Clouse SA.

Quanergy Systems, a developer of the LiDAR technology that will allow driverless vehicles to navigate obstacles in real time, raising $90m at a reported valuation of over $1bn.

Brainbees Solutions, the Indian operator of maternal, baby and childcare e-commerce platform FirstCry, is in talks to raise between $50m and $75m in a round that could involve share sales by existing investors, which include IDG Ventures India.

ClearCare, the developer of a care and business management platform for home healthcare providers, has raised $60m in a round led by Battery Ventures that will support the enhancement of its product and the securing of more strategic partnerships.

Victoria University has opened up the licensing to its research to local businesses for free.

Denali Therapeutics raised a $130m series B round.

Exits

Novan Therapeutics, which is developing a pipeline of nitrous oxide skincare products, has filed for an IPO.

Meitu, developer of a photo editing and sharing platform that has reportedly been installed on some 900 million devices, is preparing to float in Hong Kong.

International Finance Corporation’s portfolio company Indecomm, an India-based outsourcing company, was acquired by Capital Square Partners, a private equity firm in Singapore.

Funds

Recruitment firm Kelly Services’ Indian subsidiary has formed a corporate venturing fund that will invest in local startups in partnership with Japan-based peer and partner Temp Holdings.

Venture capital Earlybird is raising a healthtech fund it aims to eventually close at up to $135m.

Connecticut University in partnership with state-backed Connecticut Innovations (CI) and Webster Bank is setting up a $1.5m innovation fund.

Chicago University is among the limited partners in the $75m second fund recently launched by US-based venture capital firm Pear.

Prudential Retirement has decided to shut down its seed-stage focused investment arm, Gibraltar Ventures.

India state-owned Oil and Natural Gas Corporation launching a $15m fund aimed at projects in the energy sector.

International Finance Corporation meanwhile put $15m in the inaugural fund being raised by Long Hill Capital Management.

Wisconsin managed to push its Badger Fund of Funds to $35m after it attracted $10m from private investors, double the amount that the state had mandated in order for it to put up the $25m that it committed last year. .

Zubr, Belarus’ first private equity firm, meanwhile attracted $50m in commitments with European Bank for Reconstruction and Development signing up as cornerstone investor.

People

David Ollila, founding director of Northern Michigan University’s tech transfer office decided to move on to join VC firm Skypoint Ventures as vice-president of innovation.

Susan Warburton has joined Business Growth Hub, a local initiative that helps businesses in Manchester grow (that’s Manchester in England, not one of the over 30 cities and towns called Manchester in the US).

Launch Tennessee, the public-private partnership focused on startups and fast-growing companies in the US state, has hired John Lanahan as director of capital formation.


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

22 August 2016 – Autonomous and Smart Car Investments, $30bn Fund in China and more

Funds

China has just reportedly approved the establishment of a state-owned $30bn VC fund in Shenzhen.

ONGC to drill into startups with $15m fund

Uber and Digi to experiment with Malaysian ideation lab

Cambridge Innovation Capital (CIC), a university venturing fund commercialises science and technology advances made at Cambridge University, has raised £75m ($90m).

Prudential Retirement, a business unit of New York-listed Prudential Financial, has closed its seed stage-focused corporate venturing group, Gibraltar Ventures, so the company can build a new innovation strategy around design, acquiring and partnering with startups.

People

Lambert, who is chair of our Shift conference in NYC on October 28 in partnership with the NVCA, became managing partner with Sand Hill Road-based private venture capital firm Westly Group.

Jerneja Loncar, who has been an entrepreneur-in-residence at car maker General Motors’ GM Entrepreneurs after nearly four years at GM Ventures until the start of 2014, has been planning her next step after successfully running one startup.

Jon Lauckner, chief technical officer at General Motors and president of GM Ventures, who will be attending the GCV-NVCA SHIFT: Accelerating Corporate and Venture Partnerships conference.

Exits

General Motors reportedly made advances to portfolio company Lyft in the past few weeks to propose an acquisition, an offer Lyft turned down in order to raise more funding.

Twitch has acquired Curse for an undisclosed amount, roughly a year after the gaming media and community platform received $30m in funding from Riot Games.

Japan-based Rakuten has acquired the assets of Bitnet, a US-based bitcoin wallet startup, for an undisclosed amount.

Tencent is reportedly set to exit contextualised services search app Vurb through a $110m stock and cash acquisition by Snapchat.

Investments

It’s been a big week for internet group Tencent, with news emerging of three sizeable deals in which it’s involved. The company has first of all led a $227m series C for game livestreaming platform Douyu TV – essentially a Chinese version of Twitch – as part of a deal that will involve Douyu’s sports offering being absorbed into its own Qie Live platform.

Tencent also co-led a $175m round for India-based Hike, which is developing an all-purpose messaging app not too dissimilar to Tencent’s own WeChat platform, which connects to a huge range of e-commerce services in its home country of China.

Tencent enters Keep in series C+ round

Film and TV studio STX Entertainment has received an undisclosed amount of funding from investors including Chinese corporates Tencent and PCCW at a reported valuation of $1.5bn.

Ford has been upping its corporate venturing activity of late, investing $182m in Pivotal Software at one end of the scale and in a $6.6m round for Civil Maps at the other, as it seeks to strengthen its software capabilities on the way to the planned launch of its first autonomous car in 2021.

Chinese technology group LeEco continues to make a name for itself, diversifying into ever more areas, and now it’s raised $50m from conglomerate Macrolink for its smart car unit.

Amazon launched its $100m Alexa Fund just over a year ago, and the unit has now made its largest investment yet, as part of a $35m round closed by smart thermostat developer Ecobee.

Corporate venturing units Novo Ventures, Roche Venture Fund and SR One have co-led an $86m series A round for Tioma Therapeutics, which is working on a cancer treatment that will target the CD47 immune checkpoint inhibitor, with venture firm RiverVest Venture Partners.

Nutirinia, a developer of digestible insulin for infants, has raised $30m in a series D round featuring WuXi PharmaTech, taking its overall funding to more than $46m.

US-based cybersecurity software provider ID Experts closed a $27.5m round featuring BlueCross BlueShield Venture Partners, the corporate venture capital arm of health insurance provider Blue Cross and Blue Shield Association.

Tekpea connects to EPM for funding

Colombia-based utility service provider Empresas Públicas de Medellín has invested an undisclosed amount in the IoT company through its FCP Innovation unit.


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

15 August 2016 – VR and Food Delivery Investments, GV People Moves and more

People

Friday was Bill Maris’s last day at GV, the corporate venturing unit he helped to set up for search engine Google in 2009. But it is a new start for David Krane, who is taking the CEO position at GV (formerly known as Google Ventures) and who will have a tough act to follow in Maris.

Eze Vidra, who helped GV set up its aborted European branch in 2014, has taken the chief innovation officer role at clinical trial connection platform TrialReach.

Vosik Shamsiev, a venture partner at Japan-based corporate venturing unit TEL Venture Capital since 2014, is leaving to pursue opportunities in Canada.

Citi’s strategic investment subsidiary has hired Travis Skelly from venture capital fund FinTech Collective as a senior vice-president. No announcement as yet on Debby Hopkins’ replacement.

Joydeep Bose joined Cisco from Intel Capital in 2007 and oversaw its corporate venturing activities in the Asia Pacific Japan region. D

Funds

Telstra and Telekom Indonesia form investment pact

Infosys lines up $15m Stellaris commitment

Exits

Wal-Mart has agreed to acquire Jet.com in a $3.3bn cash and share deal said to be the largest ever acquisition of an e-commerce company, and which will be marked down as a big win for investors including Alphabet and Alibaba.

CME Group looks like it’s secured a decent exit from deep learning technology provider Nervana Systems, just over a year after its corporate venturing vehicle, CME Ventures, took part in a $20.5m series B round.

In another sizeable acquisition, Myriad Genetics has agreed to buy precision medicine developer Assurex Health for up to $410m, giving exits to Mayo Clinic and Cincinnati Children’s Hospital Medical Center.

Naspers to squeeze out Citrus Pay acquisition

Protagonist Therapeutics has raised $90m in an IPO that gave exits to pharmaceutical firms Johnson & Johnson, Eli Lilly and Pharmstandard, which collectively held a 45% stake in the company.

Investments

CVRx, the producer of an implantable treatment for heart failure and resistant hypertension, has sealed $93m in equity funding.

Torax strengthens with $25m

Moderna Therapeutics closed the largest round ever by a VC-stage drug developer in January 2015, and one of the investors in that round, pharmaceutical company AstraZeneca, has invested another $140m to take its stake in the mRNA therapeutics company to 9%.

Turner has led a $45m round for female-focused digital media company Refinery29 as part of a strategic collaboration that will involve it developing video content for Turner’s TV channels.

The Walt Disney Company had been set to team up with Major League Baseball in a funding round for daily sports betting platform FanDuel last year but pulled out at the last minute. The two have now formed a partnership of a different kind, with Disney agreeing to pay $1bn for a 33% stake in BamTech, the online video streaming platform spun out by MLB. BamTech will also set up a paid video subscription platform for Disney subsidiary ESPN as part of the deal.

Andy Bechtolsheim (Sun cofounder and Google’s angel), and Diane Greene (VMware cofounder and Google board as head of cloud) along with corporates Major League Baseball, the Los Angeles Dodgers back Xperiel, a US-based provider of a mobile app development tool that works with Internet-connected equipment in sports stadiums and other facilities, $7m round.

Deliveroo raised $100m in November and has added $275m less than a year later with a series E round featuring Nokia Growth Partners.

Healthcare concierge service Accolade has added $70m from investors including Andreessen Horowitz and Madrona Venture Group to the $22.5m in series E funding it raised from McKesson Ventures and Independence Health last year, taking its overall financing to almost $150m.

Comcast targets Interactions in $56m round

Axial capitalises on Comcast backing to raise $14m

NextVR closes an $80m series B round at a pre-money valuation of $800m.

Kaltura has been at the online video game longer than NextVR and is gearing up for an IPO, raising $50m from Goldman Sachs’ Private Capital Investing group.

Yunnex, the Chinese developer of an advanced, connected point-of-sales system, has secured $45m in a series B round backed by one of its customers, fast food chain Ajisen Ramen.

Corporates dish up another $30m for iFood


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

01 August 2016 – Asian Funds, MyTaxi hails Hailo, University Record Breaking and more

People

Intel Capital has chosen Christine Herron and Trina Van Pelt to manage its $125m Intel Capital Diversity Fund.

A former startup CEO, Herron joined Intel Capital in 2010 after a combined five years as a venture investor at First Round Capital and Omidyar Network.

Funds

Rozenfeld’s new firm targets $30m fund

Alibaba Pictures is set to go into corporate venturing, providing $75m for a $300m fund that will target strategic investments in companies in partnership with asset manager Gopher Asset.

Another Chinese media player, outdoor advertising company Focus Media, is initiating its own strategic investment activities, raising four $75m funds, each of which will be a collaboration with a different investment firm.

Pharmaceutical company Astellas has formed a joint venture called DigiTx Partners with life sciences venture firm MPM Capital in order to invest in digital health technology.

My Home looks to construct $75m fund

Siam Commercial Bank forwards corporate venturing plans

Corporates okay second KK Fund

University

NYU computes AI accelerator

SNÉ attracts $2.5m

New Zealand researches $150m Australian fund

Government

Taiwan upgrades economy with $3.1bn

Big deal: German startups to benefit from $1.1bn

Flanders helps expand IoT fund

Exits

India-based online fashion retailer Jabong was said to be in talks for a $1.2bn acquisition by Amazon less than two years ago, but how times have changed for the e-commerce sector since then. The company, part of Rocket Internet’s Global Fashion Group stable, is set to be acquired by Flipkart for only $70m in a bid to stem GFG’s losses.

Chinese internet, media and electronics group LeEco has grown at an astounding rate over the past two years through some large-sized investments, and now it is looking to expand into the US through the $2bn acquisition of consumer electronics producer Vizio.

Unilever is set to exit social marketing platform Olapic in a $130m acquisition by Monotype.

Platfora gets up for Workday acquisition

MyTaxi gets a friendly Hailo in merger deal

Government

Talend recruits $94.5m for IPO

Investments

Mitsui already holds stakes in numerous Asian healthcare companies, and now it has invested $101m in Columbia Asia, the Asian branch of US-based care provider Columbia Pacific Management.

UBtech interacts with investors for $100m

Hero Sports, the eSports company spun out by Chinese game publisher Hero Entertainment in May, has raised $96m in a round led by outdoor advertising group Focus Media, which invested $45m.

Upthere launched its personal cloud storage service yesterday, at the same time revealing it has raised $77m in a round led by strategic investor Western Digital and venture firm KPCB.

Mobile gaming company Scopely has taken its total funding to just short of $100m in a $55m series B round that included game developer and publisher Take-Two Interactive.

EverFi, the operator of a critical skills and compliance learning platform with more than 14 million users certified, has raised $40m in capital from investors including Advanced Publications.

Wonder Workshop, an Alphabet-backed developer of educational robots that can help teach kids about coding and fundamental computer skills, has secured $20m in a series B round that will enable it to enter Asia.

Government

Byju’s to educate itself with $50m

University

Big deal: Universities keep breaking records


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

25 July 2016 – Last week’s biggest investments, funds, exits and people moves

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

18 July 2016 – The Power Behind Pokémon Go raises $181m plus more

Investments

Unity, which is the game engine that helped build Pokémon Go, raised $181m in its series C round led by DFJ Growth and including China Investment Corporation – the sovereign wealth fund of the People’s Republic.

A $45m investment for iCarbonX whose shareholders include internet company Tencent, which led a $154m series A round in April 2015.

Naspers led a $30m series C round for online coding school CodeAcademy.

Sapience Therapeutics, a spinout of Columbia University, welcomed Celgene to a $22.5m series A round led by VC firm Eshelmann Ventures.

Funds

IDG Capital Partners, a VC affiliate of media company International Data Group, which closed its latest fund at $1bn.

Mavcap, the Malaysian government-owned venture firm, is looking to raise $250m for three technology funds and is hoping to attract the interest of both domestic and overseas corporates.

Verdane Capital IX, backed by private and public pension funds, university endowments, private foundations, insurance companies and family offices, hit its hard cap of $349m and will put that money into SMEs in Northern Europe.

The Indian Institute of Management, Ahmedabad, which is reaching full deployment of its current fund Infuse Ventures, backed by International Finance Corporation, BP, the Indian Ministry of New and Renewable Energy and its Technology Development Board. To make sure it’ll still have resources available to invest, the institute is now preparing the launch of a $150m vehicle, dubbed Bharat Innovations Fund, which will focus on the areas of healthcare, agriculture and energy.

Exits

Line’s $1.14bn IPO.

Yatra, an India-based online travel booking platform that went public through a reverse merger with US-listed shell company Terrapin 3 Acquisition Corporation in a deal that values it at just $208m.

ZTO Express, a logistics service based in China, is aiming for a US flotation this autumn that could bring in between $1bn and $2bn.

Talend, backed by France’s public investment bank BPIfrance, setting the range for its IPO at $15 to $17 per American Depositary Share.

People

Catherine Dupéré, previously of BDC Capital, joining Isomer Capital.

Richard Holliday meanwhile has joined Oxford spinout Bodle Technologies.

University Ventures with its announcement that it would be hiring Troy Williams and Prateek Aneja while promoting Aanand Radia. Williams will join Radia as MD, joining from publishing house Macmillan Publishers. Aneja will take on the role of vice-president, joining from Wells Fargo Securities.


“Funky Chunk” Kevin MacLeod (incompetech.com)
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