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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)
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