10 June 2019 – Google Agrees $2.6bn Acquisition of Looker

The Big Ones

JD.com has agreed to lead a round for electronics recycler Aihuishou that will be more than $500m in size. The deal will also involve JD.com, an investor in the company since at least 2015, merging its second-hand e-commerce subsidiary, Paipai, with Aihuishou.

Google has agreed to purchase data analytics software provider Looker in a $2.6bn acquisition that will surely be one of the year’s largest.

SoftBank Vision Fund is still seeking out new forms of financing, and is reportedly in talks with banks such as Goldman Sachs over a $4bn debt financing package that will effectively use its stakes in Uber, Guardant Health and the soon-to-list Slack as its basis.

Healthcare-focused investment firm Deerfield Management added a partnership with Columbia University to its roster of academic biomedical alliances yesterday with the launch of an up to $130m investment vehicle, Hudson Heights Innovations.

Deals

Swiggy is battling Zomato for dominance in India’s online food delivery sector, and may be about to recruit a powerful ally in SoftBank.

Bordrin Motor is the latest Chinese smart electric vehicle developer to pull in big funding, securing $362m in a round led by a Sinochem vehicle called Silver Saddle Equity Investment Management.

Speaking of SoftBank, the telecommunications and internet group has also invested $200m in online consumer loan provider Creditas.

Hupu is still preparing to float in its home country of China, but before that, digital media company Bytedance has invested $182m in the sport-focused online media provider in return for a 30% stake.

Foursquare seems to have been around forever and has had some hiccups, but it’s raising more money than ever. Merchant bank Raine Group has invested $150m in the location-based app developer, whose existing backers include Naver and corporate venturing units OATV and Simon Ventures, and is using some of it to acquire location data-tracking software provider Placed from Snap, which bought the company for $135m two years ago.

SoftBank Vision Fund invested $100m in Brazilian logistics platform Loggi towards the end of last year and has now returned to lead another $100m round.

Endpoint security software provider SentinelOne has secured $120m in a series D round that included Samsung Venture Investment to boost its total funding to $230m.

Yellowbrick Data has raised $81m in series C funding from investors including BMW i Ventures, Siemens’ Next47 unit and Alphabet subsidiary GV to boost its overall funding to $173m.

Exits

Global Fashion Group, a consortium made up of investors including Rocket Internet, Access Industries and Tengelmann Ventures that oversees four fashion e-commerce marketplaces is looking to go public as early as next month.

Japanese digital business card platform Sansan has priced its initial public offering at the top of its range and is set to raise about $360m, including the over-allotment option, when it floats in Tokyo.

Adaptive Biotechnologies has filed to raise up to $230m in an initial public offering, following the inking of a collaboration deal with Genetech in December that could potentially be worth $2bn.

Another unicorn, fitness subscription service Peloton, has confidentially filed for an initial public offering. Its investors include Comcast NBCUniversal and Grace Beauty, and it was valued at more than $4.1bn when it last raised money, in August.


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

20 May 2019 – JD Health Agrees Series A Funding Suspected to Total More Than $1bn

The Big Ones

JD.com has agreed to take in series A funding from CICC Capital, Baring Private Equity Asia and CPEChina Fund that is expected to total more than $1bn, for healthcare services subsidiary JD Health.

Not the week’s biggest fund in terms of numbers, but an intriguing one nonetheless: Telkomsel, the mobile network subsidiary of Indonesia-headquartered telecommunications company Telkom Indonesia, has launched a $40m VC fund in collaboration with telecoms firm Singapore Telecommunications.

When it came to exits, we had a nice crossover between corporate and university with NextCure, a US-based immuno-oncology drug developer based on research at Yale University, that secured $75m in its initial public offering.

Deals

Quibi raised $1bn for its short-form streaming platform back when was known as New TV, and it’s now seeking an additional $1bn to fund content production.

SoftBank Vision Fund’s latest investment involves it supplying $800m in funding for supply chain finance provider GreenSill at a $3.5bn valuation.

Amazon isn’t a huge participant in the corporate venturing space despite its establishment of the early stage-focused Alexa Fund. But it’s led a $575m series G round for UK-based online food delivery service Deliveroo that took the latter’s funding past the $1.5bn mark.

Telecommunications technology provider China Electronics Corporation is investing approximately $548m in Beijing Qianxin Technology, a network security product supplier spun off from Qihoo 360.

Reports last month stated SoftBank was set to invest more than $550m in Germany-based tour booking service GetYourGuide but the end result is slightly more modest, if still impressive.

Vegan burger producer Impossible Foods recently launched in Asia and is set to ramp up its partnership with Burger King. It plans to fund that expansion with a $300m funding round closed at a reported $2bn valuation.

SoftBank Vision Fund’s latest Indian investment has involved it leading a $200m series F round for online grocery delivery service Grofers that valued it at more than $1bn.

Speaking of innovative business models, tube-based transport developer Virgin Hyperloop One has already raised new funding, netting $172m according to a regulatory filing, with at least $90m of that sum coming from port operator DP World and the rest from around 80 additional investors.

ETechAces, the owner of financial product comparison platforms PolicyBazaar and PaisaBazaar, has raised $152m in a round led by SoftBank Vision Fund.

Working space provider Kr Space is one of China-based 36 Kr’s network of companies, but the spinoff has fared better than most, having just secured $145m that will support an expansion into the Asia Pacific region.

Nextdoor’s geographically-arranged social network now spans more than 230,000 neighbourhoods across multiple countries, and it’s secured $123m in series D funding to support an international growth drive that has most recently seen it enter Scandinavia.

Funds

Gree Ventures, the corporate venturing arm of Japan-based digital media company Gree, has reached the first close of a fund called Strive III which it intends to close at ¥15bn ($137m).

Diversified Philippines-based conglomerate JG Summit Holdings has launched a $50m corporate venturing fund dubbed JG Digital Equity Ventures (JG DEV).

Nabventures, the investment arm of the India-based National Bank for Agriculture and Rural Development (Nabard), is aiming to raise up to Rs 7bn ($99.4m) for a venture capital fund.

Universal Display Corporation, the US-based developer of organic light emitting diode (OLED) technologies and materials, has established a corporate venturing arm called UDC Ventures.

Exits

CrowdStrike was valued at more than $3bn when it last raised funding, in 2018, and now it’s filed for an initial public offering.

Family tracking and communication app developer Life360 may be headquartered in the US but it’s taken the unusual step of floating on the Australian Securities Exchange.

Sansan has been one of Japan’s more well-funded VC-stage companies, raising some $120m from investors that include Salesforce as well as home-grown corporates Japan Post, CyberAgent, Recruit, GMO, Nippon Life and Nikkei.


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