16 October 2017 – Ola Raises $1.1bn in Tencent-led Round

Deals

Ola confirmed today it has raised $1.1bn in a round led by Tencent, which invested $400m according to recent reports.

Tujia, the online accommodation marketplace often referred to as China’s Airbnb, has secured $300m in a round co-led by Ctrip that valued it at more than $1.5bn.

SoftBank Vision Fund has done more than anyone to ramp up venture capital investment to new levels this year, and it’s far from finished. The fund has led a $164m round for Mapbox, a provider of location and mapping technology for app developers, taking the company’s overall funding to nearly $230m.

Freight shipping management platform Flexport, has confirmed it has closed a $110m series C round that valued it at $910m post-money.

App development seems to be a hot area for SoftBank right now. The firm has also led Petuum’s $93m series B round, investing through an undisclosed subsidiary.

Music royalty collection service Kobalt has added $14m of funding from investors including the Bill Maris-headed Section 32 to take its series D round to $89m.

On Global Government Venturing, the biggest deal was a $100m funding round for Bill.com, a US-based payment processing network already backed by payment services firm American Express, which raised the cash in a round co-led by Singaporean state-owned firm Temasek and financial services firm JPMorgan Chase.

Funds

China-based educational services provider New Oriental Education and Technology has launched a $300m+ fund to invest in early-stage edtech startups, along with a $1.5bn fund that will focus on growth equity and M&A deals, according to local media reports.

Japan-headquartered mobile game developer Akatsuki was founded in 2010 and went public last year, and now it’s elected to join the corporate venturing space with the formation of a $50m fund that will target entertainment technology startups.

Cambridge Enterprise, the tech transfer office of University of Cambridge, has partnered business school unit Cambridge Social Ventures to launch a £100,000 ($132,000) seed impact fund.

On GlobalGovernmentVenturing.com, we’ve also had quite a few new funds, so let’s look at a couple of the bigger ones.

French state-owned investment bank Bpifrance has contributed an undisclosed sum to the €45m ($53.1m) first-close for France-based edtech VC fund Educapital. Children’s retailer IdKids has also backed the fund, as have business-to-business services provider Econocom, publishers Bayard and Hachette Livre, family-owned fund Education for the Many and a range of unnamed investors.

VC firm Wavemaker Partners closed its second Southeast Asia-focused fund today at $66m with contributions from Singapore state-owned investment firm Temasek.

Exits

Meal delivery service HelloFresh originally filed to go public in 2015, only to withdraw its IPO plans the a few weeks later. Now, however, HelloFresh has also confirmed recent reports, filing for an IPO that will raise approximately $355m if it floats at the top of its range.

Further along the IPO process is MongoDB, which has set terms for an offering that will net it $160m if it floats at the top of its range.

Singapore-based online services provider Sea has set the terms for a US IPO that will raise $695m if it floats at the top of its range (or $800m if the underwriters exercise their over-allotment option).

High-speed integrated circuit producer Aquantia has filed for an $86.3m initial public offering that follows about $195m of venture funding.

Spero Therapeutics, a US-based bacterial infection therapy developer backed by spinout-focused investment firm Osage University Partners has filed for an $86.3m initial public offering.


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

13 March 2017 – Airbnb Closes Series F, IPO for Snap and Much More

Deals

Airbnb has closed its series F round at just over $1bn, bringing its overall equity funding to $3.4bn.

Instacart, the company touted as ‘the Uber of grocery shopping’, has raised $400m at a $3.4bn valuation, with VC firm Sequoia leading the round with a reported $100m investment. Interestingly, none of Instacart’s corporate investors – Comcast Ventures, American Express Ventures and Whole Foods – were named as participants in the series D round.

Alibaba has spent around $250m in a secondary transaction to boost its stake in One97 Communications by an extra 4.3%, giving exits to Reliance Capital, Sapphire Ventures and Saama Capital in the process.

BBVA has led a $102m funding round for mobile banking app Atom Bank, investing just over $36m at a $320m valuation to maintain its 29.5% stake.

Baidu is said to be lining up a $100m investment in NextEV, the smart electric vehicle developer that unveiled what it claims is the world’s fastest electric supercar in November.

Liberty Global and Zain have joined existing backers including Sky and the CAA-backed Evolution Media Capital to invest $90m in iFlix, which has brought the Netflix template to Southeast Asia.

Ping An Overseas Holdings has led a series C round for livestreaming platform and communication services operator Bigo that valued it at $400m.

Spero Therapeutics, a biopharma working on treatments for superbugs, has completed an oversubscribed series C round, raising $51.7m.

Viva Republica, the Korean developer of mobile payment platform Toss, has picked up $48m in a series C round featuring PayPal which Forbes estimates values the company at roughly $250m.

Biohaven Pharmaceutical, a biopharmaceutical spinout of Yale University, yesterday closed an $80m series A round from investors that included spinout-focused investment firm Osage University Partners.

Funds

Joyme Capital, the CVC arm of online gaming community operator Joyme Group, has teamed with gaming services provider Kee Ever Bright Technology to launch a strategic investment fund that will back game developers, eSports companies and gaming ancillary service startups among others.

US-based microfinance non-profit organisation Accion has launched a $141m financial technology and services investment fund with contributions from limited partners including the World Bank’s private sector investment arm International Finance Corporation.

The Cradle Fund, an investment vehicle owned by the government of Malaysia, has announced DEQ800, an initiative that will offer early-stage equity to startups, Tech in Asia wrote on Monday.

Uniseed, the venture fund backed by four Australian universities and research institute CSIRO, has announced a A$20m ($15m) fund that will make follow-on investments in existing portfolio companies.

Exits

Snapchat owner Snap has formally closed an IPO that featured a $500m investment by NBCUniversal at $3.91bn, after its underwriters took up the option to buy an additional $410m in shares following a heady first two days of trading last week, with the company’s stock at one point up more than $12 from its flotation price.

Now that the dust is starting to clear from Snap’s flotation last week, onlookers are getting ready for the next big tech IPO, with MuleSoft setting terms for an offering that will net it $182m in proceeds and a $2bn+ valuation if it floats at the top of its range.

CA Technologies has agreed to buy cloud security platform Veracode in a $614m cash deal that will provide exits for backers including Telus, Tivo and Symantec, which spun the company out in 2006.

Otsuka Pharmaceutical has agreed to acquire ADHD treatment developer Neurovance in a deal that will give an exit to Novartis Venture Fund.


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