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

01 August 2016 – Asian Funds, MyTaxi hails Hailo, University Record Breaking and more

People

Intel Capital has chosen Christine Herron and Trina Van Pelt to manage its $125m Intel Capital Diversity Fund.

A former startup CEO, Herron joined Intel Capital in 2010 after a combined five years as a venture investor at First Round Capital and Omidyar Network.

Funds

Rozenfeld’s new firm targets $30m fund

Alibaba Pictures is set to go into corporate venturing, providing $75m for a $300m fund that will target strategic investments in companies in partnership with asset manager Gopher Asset.

Another Chinese media player, outdoor advertising company Focus Media, is initiating its own strategic investment activities, raising four $75m funds, each of which will be a collaboration with a different investment firm.

Pharmaceutical company Astellas has formed a joint venture called DigiTx Partners with life sciences venture firm MPM Capital in order to invest in digital health technology.

My Home looks to construct $75m fund

Siam Commercial Bank forwards corporate venturing plans

Corporates okay second KK Fund

University

NYU computes AI accelerator

SNÉ attracts $2.5m

New Zealand researches $150m Australian fund

Government

Taiwan upgrades economy with $3.1bn

Big deal: German startups to benefit from $1.1bn

Flanders helps expand IoT fund

Exits

India-based online fashion retailer Jabong was said to be in talks for a $1.2bn acquisition by Amazon less than two years ago, but how times have changed for the e-commerce sector since then. The company, part of Rocket Internet’s Global Fashion Group stable, is set to be acquired by Flipkart for only $70m in a bid to stem GFG’s losses.

Chinese internet, media and electronics group LeEco has grown at an astounding rate over the past two years through some large-sized investments, and now it is looking to expand into the US through the $2bn acquisition of consumer electronics producer Vizio.

Unilever is set to exit social marketing platform Olapic in a $130m acquisition by Monotype.

Platfora gets up for Workday acquisition

MyTaxi gets a friendly Hailo in merger deal

Government

Talend recruits $94.5m for IPO

Investments

Mitsui already holds stakes in numerous Asian healthcare companies, and now it has invested $101m in Columbia Asia, the Asian branch of US-based care provider Columbia Pacific Management.

UBtech interacts with investors for $100m

Hero Sports, the eSports company spun out by Chinese game publisher Hero Entertainment in May, has raised $96m in a round led by outdoor advertising group Focus Media, which invested $45m.

Upthere launched its personal cloud storage service yesterday, at the same time revealing it has raised $77m in a round led by strategic investor Western Digital and venture firm KPCB.

Mobile gaming company Scopely has taken its total funding to just short of $100m in a $55m series B round that included game developer and publisher Take-Two Interactive.

EverFi, the operator of a critical skills and compliance learning platform with more than 14 million users certified, has raised $40m in capital from investors including Advanced Publications.

Wonder Workshop, an Alphabet-backed developer of educational robots that can help teach kids about coding and fundamental computer skills, has secured $20m in a series B round that will enable it to enter Asia.

Government

Byju’s to educate itself with $50m

University

Big deal: Universities keep breaking records


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