30 October 2017 – ADCT Secures $200m Private Placement

Deals

Oncology drug developer ADCT has secured $200m in a private placement featuring return investor AstraZeneca, taking its overall funding to $455m.

Cybersecurity management software provider Skybox Security has agreed to a $150m investment by CVC Capital Partners and Pantheon.

Ninebot raised its first external funding in a Xiaomi-backed round in 2015 and has since pulled in additional capital from backers including Intel Capital.

NeuroPace, the developer of a neurostimulation implant to treat epilepsy, has secured $74m in a round co-led by KCK Group and Orbimed Advisors.

On GUV: VirionHealth, a UK-based respiratory therapeutics spinout from University of Warwick, has secured series A funding of up to £13m ($17.1m) from bioscience investment firm Abingworth.

On GGV: Lightspeed POS, a Canada-based point-of-sale (POS) system manufacturer, has closed a $163m series D round led by Canadian state-linked pension manager Caisse de dépôt et placement du Québec.

Funds

Korea-based internet company Naver has provided €100m ($118m) for K-Fund I, the fund formed by French VC firm Korelya Capital, following an initial €100m investment just over a year ago which was conducted alongside its messaging app spinout, Line. .

Voice recognition software provider iFlytek has formed a $150m fund that will provide funding for artificial intelligence hardware and software developers.

Massachusetts Mutual Life Insurance launched its MassMutual Ventures unit with $100m in 2014, and the vehicle appears to have been a success, as the firm has just put up another $100m for a second fund.

Financial services firm ING has slowly been moving into corporate venturing over the past couple of years, beginning with its participation in a $135m round for Kabbage in late 2015.

The Welsh government-owned Development Bank of Wales officially launched last week with a £440m ($580m) budget to support Wales-based startups with debt or equity.

Exits

SoFi raised $500m from investors including SoftBank at a reported $4.3bn valuation in February, but news has emerged that an unnamed bank made a $6bn offer for the business shortly after, kicking off a round of M&A talks with prospective buyers including Charles Schwab.

Razer is set to raise up to $550m when it floats in Hong Kong on Monday, with the proceeds set to fund the launch of new products that will reportedly include a mobile device.

Samsung is set to score quite an exit, after Delphi Automotive agreed to buy autonomous driving technology developer Nutonomy, a spinout of Massachusetts Institute of Technology, for $450m.

SCPharmaceutical, which is developing a subcutaneous treatment for heart failure, has filed to raise up to $100m in an IPO on Nasdaq.

ForeScout Technologies has priced an IPO that will raise an initial $116m when it floats.

Here’s a nice example of the triple helix at work for you: PowerbyProxi, a New Zealand-based wireless charging spinout of University of Auckland backed by government-owned investment firm New Zealand Venture Investment Fund, Samsung Ventures and TE Connectivity, has been acquired by technology firm Apple for an undisclosed sum.


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

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