20 November 2017 – SoftBank Uber Investment Finally Happening

Deals

People have been waiting for SoftBank’s proposed investment in Uber to be confirmed, and it now appears as though it’s happening, after Uber revealed it has come to an agreement with a consortium featuring SoftBank and Dragoneer over a deal.

Consumer and information robotics developer UBTech is in the process of raising $400m in a Tencent-led round set to value it at about $4bn, according to the South China Morning Post.

There are several prominent online car marketplaces in China and one of them, Huashenghaoche, has become the latest to close a nine-figure round. Minsheng Financial Leasing, the vehicle leasing branch of China Minsheng Bank, has invested $150m in the company, which also offers car leasing options, and whose existing investors reportedly include JD.com and Dongfeng Motor Group.

Maoyan, which agreed in September to merge with certain assets of another China-based online ticketing platform, Weiying, has received $150m in funding from Tencent, the internet group that is also one of Weiying’s key investors.

Elsewhere in China, Particle, the owner of personalised news aggregation app Yidian Zixun, has raised $112m in funding in a round that included government guidance fund Long De Cheng Zhang Culture Communication.

GV has led a $107m series D round for immuno-oncology drug developer Arcus Biosciences that included existing backers Taiho Ventures and Celgene, taking its total funding to $227m.

SIG-backed peer-to-peer lending platform 9f has raised an undisclosed amount in a series C round it claimed was sized in the nine-figure range.

Temasek, the Singapore state-owned investment firm, has led an $87.5m series D round for Poshmark, a social fashion marketplace backed by Shea Ventures, the corporate venturing arm of JF Shea.

Graphcore, the creator of a machine intelligence processing unit, has raised $50m in a series C round that included Robert Bosch Venture Capital, Samsung Catalyst Fund and Dell Technologies Capital, all of which also backed its $30m series B just five months ago.

Funds

Aster Capital, the French VC firm sponsored by corporates Solvay, Alstom and Schneider Electric, has closed just over $280m in financing from undisclosed backers, bringing the overall capital it has under management to almost $590m.

On GUV, Johns Hopkins University joined forces with US-based healthcare investment firm Deerfield Management to launch a $65m commercialisation fund called Bluefield Innovations aimed at the university’s therapeutic research.

On GGV, Ireland Strategic Investment Fund (ISIF), the country’s sovereign wealth vehicle, provided a cornerstone investment to a €250m ($294m) patient capital fund for Ireland-based small and medium-sized enterprises (SMEs).

Exits

China-based online consumer lending platform Qudian had some notable success in its US IPO last month, raising $900m after it floated well above its range.

Yixin Group, the automotive e-commerce and finance platform spun out of BitAuto in 2014, has generated $867m in a Hong Kong IPO that also represented an exit for investors Tencent, JD.com and Baidu.

LexinFintech, the Chinese operator of consumer lending and instalment buying platform Fenqile, has filed for a $500 initial public offering.

Mashable was valued at $250m as of its last funding round, but with no additional funding forthcoming, it has been forced into a sale to Ziff Davis for only $50m.

Corporates emerged practically unscathed from the Theranos disaster, but CapitalG, the growth equity unit formerly known as Google Capital, has found itself in a sticky situation with healthcare clinic advertiser Outcome Health.

On GUV, we had two news about IPOs. First, US-based immunotherapy developer Arsanis, backed by research institute European Molecular Biology Laboratory’s investment arm EMBL Ventures, set its pricing range at $15 to $17 – meaning it could raise $61m if it floats at the top of the range.

Apellis Pharmaceuticals, a US-based biopharmaceutical spinout from University of Pennsylvania, meanwhile raised $150m in its IPO, floating on the Nasdaq Global Select Market.

On GGV, OnPoint Technologies, the strategic investment vehicle for the US Army, has exited US-based fabless semiconductor producer InVisage Technologies following its acquisition by electronics producer Apple.


“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