18 December 2017 – OneWeb Follows SpaceX with a $500m Investment

Deals

Days after SpaceX raised $1bn in funding, another satellite technology company, OneWeb, is lining up a $500m investment from SoftBank, which had previously put up $1bn of the $1.2bn OneWeb raised a year ago. .

Office software producer Kingsoft spun cloud storage business Kingsoft Cloud out in 2012 but has retained a majority stake now sized at 52%. It also invested $150m of the $300m in series D funding Kingsoft Cloud just raised at a $1.9bn valuation, bringing its total funding to approximately $500m.

Reports for most of this year have been touting a $200m corporate investment in Indian online grocer BigBasket, and the latest news is that Alibaba will pay $200m for a 25% stake in the company as part of a $280m round.

Koch Disruptive Technologies, a newly formed vehicle for conglomerate Koch Industries, has made its first investment, leading a $150m series E round for InSightec, the developer of a magnetic resonance-equipped ultrasound surgical device.

There have been some big deals in the space sector recently, and the latest is iSpace, a lunar exploration company that’s just closed $90.2m in series A funding, the largest series A round in Japan’s history.

NextDoor, the social media platform focused on local communities, has raised $75m from undisclosed investors at a valuation indicated by a regulatory filing to be about $1.5bn.

AI chip developer ThinkForce has secured $68m in a series A round featuring machine vision technology developer Yitu Technology as well as Sequoia Capital China, Yunfeng Capital and Yitu backer Hillhouse Capital.

Online razor seller Harry’s has raised $63.7m in funding, according to a regulatory filing, cash that will reportedly be put towards a complementary acquisition.

GV has participated in a $63m series B round closed by oncology therapy developer Relay Therapeutics that took the company’s overall funding to $120m.

Insikt, the Rakuten-backed operator of an online lending platform for the un(der)banked, has raised $50m in a series D round led by Grupo Coppel that took its total funding past the $100m mark.

Swedish mobile payment and small business revenue technology provider iZettle has secured about $47m in a Dawn Capital-led round that included the Fourth Swedish National Pension Fund, at a reported valuation of about $950m.

We’ve had several GGV deals already, and on GUV, the biggest deal was US-based immuno-oncology developer Pionyr Immunotherapeutics, which raised $62m in series B funding from a consortium that featured spinout-focused investment firm Osage University Partners.

Funds

Auto parts supplier Valeo has provided 25% of the money for a $226m car technology fund formed by private equity firm Cathay Capital, joining government-owned Yangtze River Industry Fund as a cornerstone investor.

On GGV, the EU-owned European Investment Fund contributed funding to investment firm LSP’s second medtech vehicle, LSP Health Economics Fund 2 (LSP HEF 2), which reached an oversubscribed close of €280m ($330m).

And on GUV, UM Ventures, the tech transfer office for the University of Maryland System (UMS), has unveiled plans for a venture fund of undisclosed size aimed at retaining university-linked startups in the city of Baltimore.

Here’s an interesting one from GUV as well: Imperial College London and Tsinghua University have joined forces to seed a $300,000 fund called the Tsinghua-Imperial Research and Innovation Fund to back early-stage scientific research.

Exits

Gilead Sciences has agreed to acquire T cell receptor therapy developer Cell Design Labs in a deal that could value it at up to $567m, six years after Kite Pharma, now a Gilead subsidiary, took a 12.2% stake by backing a $34.4m round that remained Cell Design’s only funding.

Apple has reportedly lined up a $400m acquisition of music identification app developer Shazam. The deal would provide exits for América Móvil, Sony, Universal and Access Industries, but none look likely to make a profitable return on their investments, Shazam’s valuation having peaked at about $1bn in 2015.

On GUV we’ve had two IPO-related news this past week. First up, Mirriad, a UK-based video technology spinout from University of Surrey, is targeting £26.2m ($35m) in gross proceeds in its initial public offering on Aim. Mirriad, which will enter the public markets under the ticker symbol Miri tomorrow (that’s Tuesday, December 19 for those of you listening later).

Then we also have Fusion Antibodies, a UK-based genomics modelling platform spun out of Queen’s University Belfast, which will raise £5.5m ($7.4m) in its initial public offering on Aim.


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

16 May 2016 – Naspers, Kuang-Chi, HP, Malaysian Islamic fund, Hyperloop, VenBio and more

Funds

Global Corporate Venturing

Naspers is looking to put down roots in Silicon Valley via a newly formed investment subsidiary called Naspers Ventures.

Kuang-Chi makes Israeli pilgrimage for $300m fund.

HP has also established a corporate venturing arm, launching HP Ventures to invest in immersive computing, mobility, internet of things, artificial intelligence, smart machine and 3D technology.

IDG Ventures India raised $100m for each of its first two funds, but has targeted $200m for its third, with a view to making more late-stage investments as its portfolio companies grow. It now appears to be three-quarters of the way there, having reportedly raised $150m.

VenBio puts together $315m life sciences fund.

Taiho launches $50m CVC arm.

PSA unpacks $15m investment unit.

Cherry Ventures has just closed its second fund at $170m.

Global Government Venturing

Malaysia to launch $100m Islamic Venture Capital Fund.

Deals

Global Corporate Venturing

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, has meanwhile agreed up to $100m in funding for analytics firm Fractal Analytics.

In this week’s Big Deal, we look at how the deal compares to CVC efforts by other carmakers and ask whether automotive companies in general will increasingly focus their corporate venturing on connected car technology in future.

Huoli Tianhui, the operator of a flight and train ticket booking service, raised $143m in a round co-led by a subsidiary of travel-focused conglomerate HNA Group.

Hyperloop, the developer of a futuristic, vacuum-based mode of transport, has raised $80m in series B funding from investors including GE and railway operator SNCF.

Insurance firms Starr Companies and Ping An have contributed to a $70m round for Gushengtang, a six-year old company that specialises in traditional Chinese medicine.

Kingsoft Cloud, the cloud computing spinout of cybersecurity company Kingsoft, has added $50m to the $60m series C round it closed in February.

Global Government Venturing

Arpa-E expands Onboard Dynamics funding.

Exits

Global Corporate Venturing

Gene editing technology developer Intellia Therapeutics raised $108m when it went public late last week, floating at the top of its range.

Medical diagnostics technology developer NantHealth, part of Patrick Soon-Shiong’s NantWorks ecosystem, has filed for an IPO initially sized at $92m after reportedly raising more than $700m from backers also including Allscripts, Celgene and Blackberry.

Bankrupt Jumio identifies Centana as buyer.

People

Global Corporate Venturing

Swisscom calls up Schlaepfer for investment director role.

Global University Venturing

CeCe Cheng moves in with Andela.


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