18 October 2021 – Celsius Network Warms Up with $400m in Funding

Celsius Network transacts $400m in funding

Celsius Network, the US-based cryptocurrency services platform developer backed by stablecoin issuer Tether International, received $400m in funding in a round valuing the company at over $3bn.

Trumid traps $208m in funding

US-based online bond trading platform Trumid closed on $208m in funding featuring trading exchange operator Singapore Exchange (SGX) at a reported valuation of $2.4bn.

Halo grabs series C funding

Allianz Life Ventures, a corporate venturing subsidiary of insurance provider Allianz, was among the investors putting $100m into a series C round for Halo Investing, a US-based developer of an online investment tools platform.

Open opts for $100m series C funding

Internet technology provider Google participated in a $100m series C round for India-based neobank Open Financial Technologies.

BetterUp nets $300m in series E funding

US-based professional coaching services provider BetterUp recevied $300m in a series E round featuring enterprise software provider Salesforce’s corporate venturing unit, Salesforce Ventures, at a valuation of $4.7bn.

Hibob hits $150m in series C round

Hibob, a UK-based human resources software provider backed by online recruitment marketplace Seek and conglomerate Sumitomo, hauled in $150m in a series C round led by growth equity firm General Atlantic, hiking its total funding to $274m to date as a $1.65bn valuation.

Swile Benefits from $200m series D round

France-based developer of employee benefits management technology, Swile, raised $200m series D funding led by telecommunications and internet group SoftBank at a valuation of over $1bn.

Sense Photonics Detects $71m exit

Sense Photonics, a US-based developer of lidar technology that offers an ultra-wide field of view, agreed to a takeover deal lidar system producer Ouster, marking an exit to University of California-aligned Congruent Ventures, in an acquisiton worth nearly $71.3m.

BP lays out Blueprint Power acquisition

Another Congruent Ventures company, US-based energy distribution technology platform Blueprint Power, is being taken over by oil and gas company BP for an undisclosed sum.

Munich Re Ventures introduces $500m Fund II

Munich Re Ventures, the corporate venturing subsidiary of Germany-headquartered reinsurance group Munich Re, closed its second fund at $500m.

Hubspot Ventures hatches $100m fund

US-headquartered provider of customer relationship management (CRM) software, HubSpot, launched a $100m investment vehicle through its corporate venture capital arm, HubSpot Ventures.

Thomson Reuters trumpets $100m fund

Canada-headquartered news and information tools provider Thomson Reuters launched a $100m corporate venturing fund aimed at supporting “future professionals”.

Docusign concocts corporate venturing vehicle

US-headquartered electronic signature technology provider DocuSign announced its own corporate venture capital vehicle called DocuSign Ventures.


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

15 February 2016 – Chinese new year, fintech investor BBVA, Innogy Venture Capital, triple French biotech fund, Unicef, Shanghai reimburses venture capital firms and more

Funds

Financial services provider BBVA has been a notable fintech investor since early 2013 when it formed a $100m fund that has since backed companies including DocuSign, Taulia and Prosper. The bank has now elected to upgrade its participation, committing another $150m and spinning out its investments into a new VC firm called Propel Venture Partners. Propel is already operational in San Francisco and is actively recruiting for a London office.

RWE’s Innogy Venture Capital may have been quiet of late but that doesn’t mean the utility has given up on corporate venturing. Chief executive Peter Terium reiterated its commitment to innovation on Friday and revealed plans for another investment unit which will be sized at $145m.

In addition to that fund, RWE is also set to invest $15m in a so far unnamed greentech-focused venture capital fund.

France triples its biotech fund.

Unicef’s $9m Innovation Fund opens for expressions of interest from entrepreneurs, inventors and companies with working prototypes of open source technology that can improve the lives of vulnerable children.

The government of Shanghai’s plans to compensate venture capital firms that fail to make back their initial investment in startups has drawn criticism.

Investments

Uber has targeted $2.1bn in new equity funding at a jawdropping $62.5bn valuation in spite of a fundraising climate generally agreed to be cooling. Today it came a step closer, raising $200m from investment firm LetterOne, which joins a range of backers including corporates Alphabet, Baidu, Times Group, Ping An and China Life Insurance.

One of the biggest areas for VC funding last year was India’s e-commerce sector, and One97 Communications was one of the biggest recipients, securing $680m from Alibaba and Ant Financial. One97 is now looking to raise another $400m by the end of June to fund the spinning out of its flagship brand, Paytm, into a separate mobile banking and payment company.

A possible partnership with e-commerce marketplace Flipkart could also be on the cards. Africa Internet Group (AIG), the collection of African businesses overseen by Rocket Internet that is also backed by telecom companies MTN and Millicom, has welcomed a new backer. AXA paid $83m for an 8% stake in AIG as part of a strategic partnership that will allow it to sell insurance products through AIG’s companies, and in particular e-commerce marketplace Jumia.

Cambridge University breaks its own seed funding record for the third year in a row, investing $5.5m last year.

Exits

Proteostasis raised $50m (see below) while AveXis secured $95m, floating in the middle of its $19 to $21 range. AveXis, which is backed by Roche’s corporate venturing fund, will use the proceeds to steer its lead candidate, a gene therapy treatment for spinal muscular atrophy, through phase 1 trials.

Good analysis recommendation: Bruce Booth at Life Sci VC 

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