02 July 2018 – AT&T Agrees Acquisition of AppNexus

Exits

AT&T has agreed an acquisition of AppNexus reported to be priced around the $1.6bn mark, enabling WPP, Microsoft, News Corp and Deutsche Telekom to exit.

PayPal sinks $120m into Simility acquisition

University

TTTech sells stake to B&C

Xiaomi’s IPO has been a long, hard slog for the company. It had originally aimed to raise $10bn in a dual Hong Kong and Shanghai listing that would have valued it at about $100bn, but the Qualcomm-backed electronics producer has had to settle for a $4.7bn offering, solely in Hong Kong, which valued it at $54bn.

Chinese automotive e-commerce marketplace Cango has filed to raise up to $300m in a US-based initial public offering that will allow Tencent, Didi Chuxing and Taikang Life Insurance to exit.

A more recently thriving space involves livestreaming, and China-based Inke has set the terms for an initial public offering in Hong Kong that will net $167m if it floats at the top of the range.

Babytree, a China-based online platform that combines baby and child products, development advice and social networking for parents, has filed for an IPO in its home country.

Outside of China, life sciences companies are driving the US IPO surge, much as they did three three or four years ago. Some half dozen healthcare companies floated the previous week including Magenta Therapeutics, which secured $100m when it floated.

Cancer drug developer Constellation Pharmaceuticals has filed to raise up to $86.3m in an offering that will follow almost $230m in equity funding.

Translate Bio, a developer of messenger RNA drugs for diseases caused by gene or protein dysfunction, has raised over $121m in its own IPO, in the US.

Neon shows way to $100m IPO

Kezar kicks into public markets

Xeris reformulates path to IPO

ElectroCore enters public markets with $78m offering

Allakos aligns itself with $75m IPO

Deals

Transport services provider Go-Jek closed a $1.5bn round earlier this year at a $4.8bn valuation, and is now in talks to raise the same amount in a new round, according to The Information.

Evergrande Health Industry, part of property developer China Evergrande, has taken a 45% stake in smart electric vehicle developer Faraday Future, paying $860m for Season Smart, the investment entity that held a 45% stake in the company.

Showing once again that ride hailing continues to be a vibrant destination for venture funding, Lyft has raised $600m in a Fidelity-led round that valued it at more than $15bn post-money.

PolicyBazaar signs up SoftBank for $238m round

Helix has closed a series B round backed by Illumina and Mayo Clinic at $200m, and will use the funding to expand its personal genomics product marketplace.

Precision BioSciences has closed a $110m series B round backed by Amgen Ventures, Brace Pharma Capital and Alexandria Venture Investments, and will use the proceeds to expand the portfolio of products centred on its genome editing platform.

Advanced battery developer QuantumScape has largely operated in stealth since it was founded in 2010 but has received $100m from Volkswagen as part of a deal that will involve the companies forming a joint venture to bring solid-state batteries to the industrial-scale manufacturing stage by 2025.

AISpeech aces latest round

Cibus harvests $70m in series C funding

B-Stock beats its way to $65m

TouchBistro completes $54m series D order

Carisma charms investors in $53m series A

AIpark finds space for Nio in series B

University

Pennsylvania lines up $50m

Irish spinout generation slides in 2017

Funds

Dementia Discovery Fund delivers $350m close

Charles University spawns TTO


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

21 May 2018 – NewTV Raises $800m in Funding

Deals

Last week’s Big Deal on Global Corporate Venturing looked at a reported $800m in funding raised by NewTV, a stealthy video content producer formed by entertainment mogul Jeffrey Katzenberg that has secured corporates such as 21st Century Fox and Warner Bros as investors.

Reports earlier this year suggested Chinese smart car developer Byton was looking to raise $300m to $400m for its series B round at a $1.2bn valuation.

JD Logistics, the logistics provider spun off by Chinese e-commerce firm JD.com, has invested $306m in ESR Cayman as part of a strategic partnership agreement.

Tanium, an enterprise cybersecurity software provider backed by Citi Ventures, has received $175m from TPG Growth at a valuation of about $5bn, up from the $3.75bn at which it last raised funding a year ago.

Cryptofinance company Circle has secured $110m in a series E round led by new strategic investor Bitmain, at a reported valuation near to $3bn. Bitmain invested as part of an agreement that will involve it supporting USDC, a stablecoin currency Circle is releasing.

Unisound, a Chinese company developing AI technology for use in internet-of-things products, has raised $100m in a round led by China Electronics Health Fund, a corporate venturing subsidiary of telecoms equipment maker China Electronics Corporation Data.

Carousell, the Asia Pacific-focused owner of an e-commerce app for second-hand items, has received $85m in a series C round co-led by Rakuten Ventures and EDBI, the investment arm of state-owned Singapore Economic Development Board. Rakuten has been an investor in Carousell since its 2013 seed round, and also led its $35m series B.

Ansun Biopharma has also secured $85m, in a series A round co-led by corporate venturing units Sinopharm Healthcare Fund and Lilly Asia Ventures, both of which are also taking board seats.

FogPharma, which is developing miniprotein treatments for diseases including cancer, has closed a $66m series B round that included Nan Fung Group, GV and WuXi AppTec Corporate Ventures.

Funds

SoftBank still hasn’t officially closed its first Vision Fund, but is reportedly already in discussions with potential investors for a second Vision Fund that would also be sized at about $100bn, and which would source capital from a wider range of investors.

Southeast Asia has been a notable growth area in terms of VC funding over the past year or two, but it isn’t just foreign investors taking part. Siam Commercial Bank has doubled the size of Digital Ventures, the corporate venturing fund it set up in 2016, to $100m, making it the largest VC fund in Thailand according to the bank. It will also move away from its core fund-of-funds strategy toward more direct investments in startups.

Exits

Japanese e-commerce app Mercari has had a circuitous route to the public markets, but it’s finally succeeded in filing for a $1.1bn IPO in its home country, at a projected valuation of $3.3bn.

M17 Entertainment, formed by the merger or Paktor and 17 Media almost 18 months ago, has filed for its own IPO in the US.

Home furnishings e-commerce platform Home24 has filed for an offering in Frankfurt that is set to raise up to $235m.

Enough about IPOs though – despite the recent boom, the public markets aren’t the only exit route for investors. Case in point: PayPal has agreed to acquire mobile payment technology provider iZettle for $2.2bn in cash, days after Glassdoor was also bought for a billion-dollar sum.


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