24 April 2017 – SoftBank Considers $1bn+ Deal and Much More

Deals

SoftBank is reportedly considering paying upwards of $1bn for a 20% stake in One97 Communications, the Indian e-commerce firm that’s also the parent company for mobile payment platform Paytm.

China Vanke has become the second domestic property developer to make a nine-figure investment in Chinese real estate agency and online portal Lianjia this year, providing $436m in funding.

Classified listings platform 58.com is spinning out its used goods app Zhuan Zhuan, and Tencent has agreed to provide $200m in funding for the newly independent company.

SoftBank is yet to formally close its $100bn Vision Fund but is nevertheless on somewhat of a streak, reportedly offering big investments to a string of Asian online services providers.

Tianjin CanSino Biotechnology, which is developing vaccines for Ebola, tuberculosis, cervical cancer and pneumococcal infection, has closed $65m in funding from investors including Lilly Asia Ventures, and will put the cash towards commercialising its candidates and completing a manufacturing facility expected to be ready next year.

SenseTime is developing technology that will utilise machine learning to recognise faces to a high degree of accuracy, and has just raised $60m in a round led by the state-backed Sailing Capital International.

Car sharing platform Getaround has secured $45m from investors including Shanghai Automotive and an investment fund backed by Toyota, showing that the sector still has some life in it despite the ubiquity of its ride sharing cousins.

Kumpulan Wang Persaraan (KWAP), the Malaysian retirement fund, has invested $100m in Edotco, a Malaysia-based telecom infrastructure company, Digital News Asia reported on Wednesday.

Neural Analytics, a medical device spinout of University of California, Los Angeles (UCLA), has raised $10m in a funding round led by venture capital firm Reimagined Ventures.

Funds

Illumina announced a year ago that it intended to invest $100m in startups through an independently managed VC firm called Illumina Ventures, but a securities filing has indicated it has increased that amount of capital to $189m by adding more limited partners.

The Indian state of Tamil Nadu is set to invest Rs5bn ($78m) in a venture capital fund, the Hindu Business Line reported yesterday.

The EU agency European Investment Fund (EIF) and the Luxembourg Future Fund (LFF), which aims to stimulate the Luxembourgish economy, have achieved a first close for the European Cyber Fund (ECF). Paladin Capital, a US-based investment firm with expertise in cyber and digital infrastructure resilience, will manage the ECF and has also invested into the fund.

Bpifrance, the public investment bank of France, has invested in a €64.75m ($69.2m) seed fund established by France-based life science-focused firm Advent France Biotechnology (AFB), Labiotech reported yesterday.

Spain-based early-stage venture capital firm Nauta Capital yesterday raised a €155m ($166m) fund, with the European Investment Fund (EIF) among the investors. British Business Bank Investments, the commercial arm of the state-owned economic development agency British Business Bank (BBI), is also a limited partner, alongside the Catalan Institute of Finance, a public financial institution owned by the government of Catalonia.

Exits

Cloudera has set terms for an IPO that will net it $210m if it floats at the top of its range, and existing backer Intel has expressed interest in buying up to 10% of the shares in the offering.

Chinese logistics service Best Logistics is looking for banks to handle its own IPO, through which it expects to raise up to $1bn.

Walmart has spent the last few months beefing up its e-commerce offering through a string of acquisitions and the next one looks set to be online men’s fashion brand Bonobos.

G1 Therapeutics has filed for a $115m IPO that will support development of three clinical-stage oncology therapeutics and give an exit to corporate venturing unit MedImmune Ventures.

Netshoes, a Brazil-based sports and lifestyle e-commerce company for the Latin American market, has raised $148.5m in an initial public offering on the New York Stock Exchange.


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

12 September 2016 – Automotive Deals, UK Funds and more funding for Didi Chuxing plus more

Deals

Best Logistics has closed a massive $760m funding round that shows how big China’s logistics sector is growing in the wake of the country’s e-commerce success.

SoFi received $1bn from backers including Renren and SoftBank at a $4bn valuation in October, followed that up with another $150m from Renren the following month, and is now reportedly lining up a $500m round, though the prospective investors are yet to be revealed.

Moderna Therapeutics closed a huge $450m round at the start of last year that valued it at $3bn, and now the RNA therapeutics developer has revealed $474m in new equity financing which, a regulatory filing indicates, includes the $140m invested by AstraZeneca last month.

Online car marketplace Cheyipai has raised $185m in funding from investors including Renren and Tencent, but is now changing tack by switching from a business-to-consumer model to one that serves other businesses. That pivot may be part funded by car manufacturer BAIC, which is reportedly in talks to lead a $45m round.

Chinese automotive marketplace RenRenChe is less than three years old, but has secured $150m in a round backed by new and existing VC investors.

Didi Chuxing has had quite a year and it continues to go from strength to strength, closing $120m in funding from manufacturing services provider Foxconn at a $33.7bn valuation.

Novartis Venture Fund has co-led a $40m series E round for Rox Medical, the developer of a device that will treat hypertension in older patients.

Rigontec, a biopharmaceutical spinout of Bonn University, today achieved a third and final close of its series A round at $32.3m with public-private partnership High-Tech Gründerfonds (HTGF) making another commitment.

Red Dot Capital Partners, a $150m vehicle wholly funded by Singaporean government-owned investment firm Temasek, led a $38m investment yesterday in Israel-based wireless technology developer Celeno Communications.

Funds

Russian conglomerate Sistema has already launched two VC vehicles this year – the $50m India-focused Sistema Asia Fund and a $100m fund with Tsinghua University – and it’s followed those up with a private equity fund partnership with Russian state-owned tech commercialisation company Rusnano.

Neil Woodford, a UK-based fund manager and founding partner of Woodford Investment Management, is reportedly in talks with the UK government to set up a £250m ($330m) VC fund, Portfolio Adviser reported.

Imperial College London has become a limited partner in a £40m ($53.7m) fund launched by incubator Entrepreneur First yesterday, according to TechCrunch.

Exits

Intel has acquired vision processing chip producer Movidius in a transaction that provided exits to corporates Robert Bosch and Sunny Optical.

IDG Ventures India can also celebrate an exit, or at least a partial exit from eyewear supplier Lenskart, selling $20m in shares to investment firm PremjiInvest in a deal that also involved PremjiInvest investing a further $10m in Lenskart directly.

Allergan has acquired the Wayne State University spinout, backed by Santen Pharmaceutical and Nerveda, for an upfront payment of $60m.

People

Oxford University’s commercialisation arm has appointed Matt Perkins as its new chief executive, replacing Tom Hockaday who stepped down earlier this year.

Ozan Sönmez has been appointed managing director of T-Jump Startup Hub, the US-based incubator of Middle East Technical University’s tech transfer office ODTÜ Teknokent.


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