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

28 August 2017 – VIPKid Closes Round with Reported $1.5bn Valuation

Funds

China Life and Baidu combine for $1bn fund

SparkLabs sets up $50m Seah-anchored fund

Kuppam’s Epsilon anticipates $350m close

Government

Monash BDI joins MRCF

Investments

SoftBank ploughs $4.4bn into WeWork

VIPKid is the latest participant to close a substantial round, pulling in $200m from investors including Tencent at a reported valuation of more than $1.5bn.

Deep learning chipset developer Cambricon has secured $100m in a series A round that included subsidiaries of Alibaba and Lenovo as well as robotics technology provider Zhongke Tuling Century Beijing Technology.

JD.com gets $100m to Go-Jek

Druva, a developer of cloud data management and protection software, raised $80m today in a round led by private equity firm Riverwood Capital that increased its overall funding to almost $200m.

Internet-of-things platform developer Cubic Telecom has raised $47m in a round featuring Qualcomm, Audi Electronics Venture and Valid Soluciones Tecnologicas that increased its overall funding to $88m.

Another data-oriented company, in-memory database platform developer Redis Labs, has meanwhile secured $44m in a series D round that included Dell Technologies Capital, representing the latter’s second deal in the space of a few days.

Behavioural health technology provider AbleTo has closed a $36.6m round featuring health insurer and long-term customer Aetna as well as healthcare provider Horizon Healthcare Services.

ZingBox, a developer of security technology for internet-of-things systems, has raised $22m in a series B round led by Dell Technologies Capital.

Saudi Aramco-backed online payment processing platform PayTabs has received $20m in funding from unnamed investors, and the capital will support a growth drive that will enable the Middle East-based company to expand into Africa, Europe and India.

Corporates dive into Immersv series A

University

IndoorAtlas spins another $4.3m in funding

Yahoo Japan has led a series B round for the University of Oulu spinout, which uses geomagnetic activity to detect an object’s location in a room.

Government

Sumdog fetches $1.8m

Exits

Accenture has exited digital testing and brand services provider Applause through an acquisition of undisclosed size by investment firm Vista Equity Partners. Accenture’s corporate venturing unit Accenture Ventures took part in Applause’s last round, a $35m series F last September that took the company’s total funding to about $115m.

Cisco has agreed to pay $320m to acquire hyperconvergence software provider Springpath, one of its portfolio companies since 2015.

According to a securities filing, Krystal Biotech raised just over $11m in its first round of funding last week, at least $7m of which came from pharmaceutical company Sun Pharmaceutical Industries.

Osram to switch on Digital Lumens acquisition

Avnet captures Dragon Innovation

ST Engineering subsidiary Vision Technologies Land Systems has agreed to pay an undisclosed amount to acquire Aethon, which has created an automated robotic delivery system for hospitals that transports items such as medication, meals and linen.

Smarsh captures Cognia in acquisition deal


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

25 April 2016 – Arvind Sodhani, Alibaba, JD.com, Baidu, Gensights Biologics, Gree, Mars Petcare, Birmingham University and more

VC Creation

Arvind Sodhani, former president of Intel Capital, has formed a new VC firm called Silver Trail Ventures and, ahead of a keynote speech at the Global Corporate Venturing/DLA Piper Corporate Venture Capital Strategy Seminar in Tokyo, warned that for corporate venturers, innovation and disruption is more important than business development.

Deals

Digital medicine developer Proteus Digital Health has added $50m of series H financing to an equity cash pile.

GV finds happy Medium for $50m series C.

Alibaba sealed two huge deals last week, making billion-dollar investments in Ele.me and Lazada, and in this week’s Big Deal we take a look at the firm’s investment strategy and what those those transactions might mean going forward.

UCWeb presses start on $20m Indian gaming fund.

JD.com has paid $200m for a 47.7% stake in logistics service company Dada Nexus in a deal that will involve merging its own e-commerce subsidiary, JD Daojia, into the company, which operates across 37 Chinese cities.

Baidu has raised $155m in a round led by TV and film production company Shanghai New Culture Media,

Cabify has become the latest ride hailing service to raise significant funding, pulling in $120m from a Rakuten-led round that values it at $320m post-money.

China-based Yaochufa spcialises in short haul holidays and local breaks but is planning to expand its range of destinations after closing an $85m series D round.

Exits

GenSight Biologics filed for an IPO back in July 2015 but a few months later the Novartis-backed eye disease therapy developer has withdrawn citing market conditions. The decision, made at roughly the same time as another biotech company, Bavarian Nordic, did the same, is a worrying omen for the IPO market, which is still yet to recover from a considerable lull, meaning CVC exits will likely be harder to come by this year.

Tencent-backed eJiaJie completes Neeq listing.

Hearst follows up its initial investment in Complex by agreeing to jointly acquire the company with telecom firm and partner Verizon.

Asahi Shimbun goes native with Somewrite acquisition.

Oracle draws up $50m Crosswise acquisition.

Nielsen-backed VC firm Pereg Ventures is set to exit device data provider Crosswise in a $50m deal.

Mars Petcare acquires Whistle from Nokia Growth Partners.

Funds

Gree forms $12m virtual reality fund.

The social media company’s GVR Fund features Colopl and Mixi as limited partners.

CincyTech receives healthy interest for fourth fund.

Care providers Cincinnati Children’s Hospital Medical Center and UC Health are among the limited partners.

Global University Venturing

Alta Innovations: the future of success: In the second part of our series, GUV editor Thierry Heles takes a closer look at how Birmingham University is building a complete ecosystem for spinouts, startups and late-stage companies.

GUV supporting a survey of 80 university venturing funds sponsored by one of our subscribers, Kaust.

Global Government Venturing

EIF and PPM Oost initiate $227.5m fund.

Dutch regional development agency PPM Oost and the European Investment Fund have launched a $227.5m second Dutch Venture Initiative fund of funds.


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