27 March 2017 – MuleSoft’s Shares Soar Following $221m IPO and Much More

MuleSoft raised $221m in its IPO on Friday, only to see its share price soar to almost twice the mid-point of its range. The offering is good news for the IPO market generally but also for enterprise software providers looking to go public.

Deals

Flipkart has raised $1bn in funding from investors including Tencent, Microsoft and eBay and is reportedly seeking up to $1bn more in the next few months.

Tencent has led a $350m round for Kuaishou, which is also backed by Baidu, and both the corporates will help the company enhance user experience of its app, which boasts 50 million daily active users.

SoftBank has invested $300m in working space provider WeWork at a $17bn valuation and reportedly expects to add another $2.7bn through Vision Fund.

Sutro Biopharma spinout SutroVax has raised $64m, $60m of that coming from a series B round backed by Roche Venture Fund, and will use the funds to advance its development of a conjugate vaccine for pneumococcal disease.

Haoeyou has raised $40m for its medical tourism platform, which allows Chinese patients to access consultancies from US-based doctors through video conferencing, and to travel between countries for treatment.

Legend Capital is among the investors that have provided $39m in series B funding for Suzhou Ribo Life Science, a Chinese company developing RNA therapeutics to treat diseases such as hepatitis B, hyperlipidaemia and liver cancer.

Genome editing technology startup eGenesis has raised $38m in a series A round backed by healthcare services firm Heritage Provider Network and biotech property developer Alexandria Real Estate Equities.

Autonomous car tech continues to roll on, with Autotalks, a developer of chipsets that will be used in vehicle-to-vehicle communication, raising $30m in series D funding.

GlaxoSmithKline and Johnson & Johnson have contributed to a $30m series B round for Pulmocide, a developer of therapies to combat diseases caused by respiratory syncytial virus.

Funds

Aflac has joined the numerous insurance providers that have established strategic investment arms over the past two years, forming a subsidiary called Aflac Corporate Ventures, in which it plans to invest $100m over the next three years.

Kabbage, the operator of an online lending platform for small businesses, is said to be in talks with investment firms to raise “a few hundred million dollars” that will be put toward acquisitions.

The European Fund for Strategic Investments (Efsi), also known as the Juncker Plan, is now set to trigger more than €177bn ($190bn) in total investments, figures released following a meeting of the European Investment Bank’s board of directors show.

Exits

Amazon has beefed up its international e-commerce holdings, entering the Middle East through a $650m acquisition of local market leader Souq.com that provided Naspers and Jabbar Internet Group with exits.

Alibaba paid an undisclosed sum for a 32% stake in Damai.cn in 2014 and has now finished the job, acquiring the rest of the online ticketing platform.

Netshoes, a Brazil-based sports e-commerce company backed by Singapore government-owned GIC and Temasek as well as the International Finance Corporation, has filed for an initial public offering on the New York Stock Exchange that could bring in $100m in proceeds.


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

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