26 August 2019 – Uhuru Plans to File for an IPO

Exits

Uhuru to connect to UK’s public markets

Pfizer spinoff Springworks is developing drug treatments for rare forms of cancer, and has filed to raise up to $115m in an initial public offering that would also allow GlaxoSmithKline to exit.

Medical research tool developer 10x Genomics has already reached unicorn status, having closed a SoftBank-backed series D round that valued it at almost $1.3bn earlier this year. Business is going well for 10x, which more than doubled its revenue in 2018, and which has now filed for a $100m initial public offering.

IGM Biosciences has filed for its own $100m IPO – it’s been quite a few days for IPO filings – and the company, which is developing engineered antibodies that will treat cancer, is launching the offering just weeks after it secured $102m in series C funding.

Satsuma sets course for public markets

TSE gives Giftee IPO permission

University

VMware ingrains StartX-backed Intrinsic

Woodford loses touch with Ultrahaptics

Funds

SoftBank is reportedly offering to lend its employees up to $20bn to invest in the second iteration of its Vision Fund, reportedly replicating a process in which staff borrowed $8bn to invest in its predecessor.

Access Ventures accepts corporate backing

Deals

Microfinance provider Tala is reportedly now valued at $750m following a $110m series D round that included existing backer PayPal. The cash will fund international recruitment and an expansion of the company’s product range, and it comes after Tala had received some $100m in debt financing over the past year.

Lixiang, the Chinese electric SUV developer formerly known as Chehejia and CHJ Automotive, has closed its series C round at $530m at a $2.9bn valuation, with, $30m coming from new corporate backer Bytedance.

WeWork (now We Company) is gearing up for one of the year’s biggest IPOs but it isn’t the only company in the working space sector that’s growing quickly. Knotel has secured $400m from investors including Mori Trust, Itochu, Bloomberg Beta and Rocket Internet to increase its total funding to $560m.

Electronic cigarette maker Juul raised a gargantuan $12.8bn from cigarette manufacturer Altria last December at a $38bn valuation, but it isn’t done yet. The company has added$325m in convertible note financing from four investors according to a securities filing, and the cash will likely support an increasingly widespread advertising campaign as it looks to geographically expand.

PlusAI is one of a few autonomous vehicle developers currently in the pre-production stage, but is focusing its efforts on a truck with level 2 autonomous driving functionality that it hopes to be able to mass produce. It is also reportedly near to raising $200m at a valuation exceeding $1bn.

Mortgage financier Better.com is now valued at $600m, following its completion of a $120m series C round. Ping An Global Voyager Fund and American Express Ventures both contributed, as did Citi, Ally Financial, AGNC and Goldman Sachs, and the transaction took Better’s overall funding past the $250m mark.

Once upon a time, when it was a credible threat to Flipkart, Snapdeal’s largest investor was SoftBank. Then, when sales went south the corporate withdrew its support from a funding round in order to try and trigger a merger between the two – both among its portfolio companies. That deal didn’t come off, Walmart acquired SoftBank’s stake in Flipkart, and Snapdeal radically restructured and improbably survived. Now, SoftBank is in talks to lead a $100m round for the company, potentially with an investment of up to $60m. A case of forgive and forget?

Naspers to gamble on $100m Dream11 investment

University

XpectVision meets series B expectations


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

17 June 2019 – GE Ventures to Sell its Portfolio

A fascinating feature for you courtesy of Tony Askew, co-founder and partner of REV Venture Partners, who spoke with Global Corporate Venturing about how the media industry has evolved since the corporate venturing unit was launched in 2000. Insights provided by Askew included how its co-investments with In-Q-Tel have helped the unit, while he also explained the group’s aim was to stay three to seven years ahead of everyone else.

Funds

WTW to broker corporate venturing deals

Third Rock counts $770m for fifth fund

Invengo invigorates $145m IoT fund

Crane crowns $90m close for first fund

Wavemaker drifts to $60m close for third fund

Exits

Salesforce processes $15.7bn Tableau acquisition

CrowdStrike is going public today after pricing a $612m IPO that represents a huge jump up from less than two weeks ago, when it was slated to float in an offering that would have raised $378m at its mid-point.

Merck & Co has agreed to acquire Tilos Therapeutics, which is developing antibodies to treat cancer, fibrosis and autoimmune diseases, in a deal that could potentially reach $773m once milestone payments are factored in.

That isn’t the only heavy-duty M&A exit to be agreed in the last day or so. H&R Block isbuying accounting software producer Wave Financial for $405m in cash.

Avi networks its way to VMWare acquisition

Barefoot takes next step with Intel purchase

Cvent goes DoubleDutch in acquisition deal

Deals

Short-term accommodation booking platform Oyo has reportedly begun talks with new and existing investors over a $1bn round that would value it at $10bn.

SoftBank’s recently launched $5bn Innovation Fund that focuses on Latin America has entered discussions with Brazil-based digital bank Nubank to lead a funding round that could reach up to $1bn and value the company at $8bn to $10bn – up from a previous reported valuation of $4bn, achieved when the fintech developer collected $180m from Tencent in October 2018.

SoftBank works out $300m Gympass investment

ADC Therapeutics adjusts series E to $276m

South Korea-based Yanolja also operates a short-term hotel business, refitting venues such as love hotels for a millennial user base seeking good quality accommodation on a budget. It has raised $180m in a series D round at a valuation of more than $1bn, with travel booking platform Booking Holdings joining Singapore’s GIC to supply the cash.

Innoviz has boosted a series C round that includes Harel Insurance and Phoenix Insurance from $132m to $170m, the extra funding coming from undisclosed investors.

Symphony plays on with $165m

Shuidi ships in $145m

Thumbtack, the US-based local services listing platform, has collected $120m in series H funding from unnamed investors – reportedly at a flat valuation of $1.3bn.

ShareChat in talks for $100m funding round

Dishangtie parks $100m in series B round

Vectra collects $100m in series E round

Infarm harvests $100m series B round


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