04 December 2017 – Europe ‘Guarantees’ Research & Innovation Budget

Funds

Fortino Capital Partners, which has attracted $150m for the first close of its $240m vehicle that will focus on the Benelux countries.

Nio Capital, the investment firm launched just under a year ago by electric vehicle manufacturer Nio, Sequoia Capital and Hillhouse Capital, is gearing up for a $500m fund – its first US dollar-dominated fund that will invest alongside an existing, renminbi-dominated fund that is targeting a $1.5bn close.

Then we have Tencent venturing all the way to Canada to put its weight behind Real Ventures’ $140m fundraising effort.

In China meanwhile, Huochebang and Yunmanman are set to merge in a deal that will value the combined entity at approximately $2bn.

Ping An Good Doctor, the online healthcare platform backed by insurance provider Ping An Insurance, is aiming to float on the Hong Kong Stock Exchange as early as the first half of next year in a $1bn offering.

SoftBank grows Vision Fund team

Deals

Ride-hailing platform Lyft has been having a good year so far – most recently revealing that it was finally going to pursue an international expansion beginning with Canada. The company may not be as well-funded as its rival Uber, but it has slowly grown its warchest with investors including Alphabet’s CapitalG unit, which led a $1bn round in October.

It’s also been revealed that Softbank wants a larger piece of Flipkart.

One97 Communications has had a lot of success with its mobile payment platform Paytm and it seems it may have created another money-maker in Paytm Mall, an e-commerce business that is already backed by Alibaba and is now seeking $500m to $600m in a funding round led by SoftBank with $300m.

Tencent and Fosun-backed online healthcare services platform WeDoctor (originally known as Guahao) is meanwhile gearing up for a $500m funding round.

Niantic catches $200m series B

Ping An treats Fullerton Healthcare to $121m

Medtronic and Novartis returned to back a $114m series B round for Semma Therapeutics, which is working on a treatment for type 1 diabetes. SinoPharm also joined the consortium, as did 6 Dimensions Capital, the investment firm set up by WuXi Healthcare Ventures and Frontline Bioventures. Medtronic and Novartius previously took part in a $44m series A round back in 2015.

And in another of the larger deals of the week, GV has participated in a $110m series D round for agricultural data sharing platform Farmer’s Business Network (the other deal beingFractyl’s $44m series D).

H2O.ai steeps $40m in series C

Codiak develops $76.5m series C

ColubrisMX and XCatch rise to series A

Oxford hits 150 by spinning out 6Degrees


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

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