29 August 2016 – University and Government Venturing Summer Catchup and more

Investments

One97 Communications, which has reportedly raised almost $1bn to date, most of which came after it formed mobile payment subsidiary Paytm in 2010. It’s now set to formally split from Paytm and has set up a separate entity for its e-commerce activities.

Snapdeal, which raised $500m in a round led by the Chinese firm last September. Snapdeal has just received $21m in funding from Luxembourg-registered Clouse SA.

Quanergy Systems, a developer of the LiDAR technology that will allow driverless vehicles to navigate obstacles in real time, raising $90m at a reported valuation of over $1bn.

Brainbees Solutions, the Indian operator of maternal, baby and childcare e-commerce platform FirstCry, is in talks to raise between $50m and $75m in a round that could involve share sales by existing investors, which include IDG Ventures India.

ClearCare, the developer of a care and business management platform for home healthcare providers, has raised $60m in a round led by Battery Ventures that will support the enhancement of its product and the securing of more strategic partnerships.

Victoria University has opened up the licensing to its research to local businesses for free.

Denali Therapeutics raised a $130m series B round.

Exits

Novan Therapeutics, which is developing a pipeline of nitrous oxide skincare products, has filed for an IPO.

Meitu, developer of a photo editing and sharing platform that has reportedly been installed on some 900 million devices, is preparing to float in Hong Kong.

International Finance Corporation’s portfolio company Indecomm, an India-based outsourcing company, was acquired by Capital Square Partners, a private equity firm in Singapore.

Funds

Recruitment firm Kelly Services’ Indian subsidiary has formed a corporate venturing fund that will invest in local startups in partnership with Japan-based peer and partner Temp Holdings.

Venture capital Earlybird is raising a healthtech fund it aims to eventually close at up to $135m.

Connecticut University in partnership with state-backed Connecticut Innovations (CI) and Webster Bank is setting up a $1.5m innovation fund.

Chicago University is among the limited partners in the $75m second fund recently launched by US-based venture capital firm Pear.

Prudential Retirement has decided to shut down its seed-stage focused investment arm, Gibraltar Ventures.

India state-owned Oil and Natural Gas Corporation launching a $15m fund aimed at projects in the energy sector.

International Finance Corporation meanwhile put $15m in the inaugural fund being raised by Long Hill Capital Management.

Wisconsin managed to push its Badger Fund of Funds to $35m after it attracted $10m from private investors, double the amount that the state had mandated in order for it to put up the $25m that it committed last year. .

Zubr, Belarus’ first private equity firm, meanwhile attracted $50m in commitments with European Bank for Reconstruction and Development signing up as cornerstone investor.

People

David Ollila, founding director of Northern Michigan University’s tech transfer office decided to move on to join VC firm Skypoint Ventures as vice-president of innovation.

Susan Warburton has joined Business Growth Hub, a local initiative that helps businesses in Manchester grow (that’s Manchester in England, not one of the over 30 cities and towns called Manchester in the US).

Launch Tennessee, the public-private partnership focused on startups and fast-growing companies in the US state, has hired John Lanahan as director of capital formation.


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

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