11 September 2017 – Judging Purchase Versus Investment

Exits

Johnson & Johnson is celebrating an exit with the acquisition of its portfolio company NeoTract by Teleflex for a total consideration of $1.1bn.

Intel Capital also celebrated an exit as its portfolio company StarCash, a digital gift card service, was acquired by fintech company Blackhawk Network for $175m in cash.

Madsack hails CleverShuttle

Paytm to make Little acquisition

Juicero breaks down

It seems as though Roku is serious about an initial public offering this time. The company was rumoured to be seeking a flotation all the way back in 2014 but those plans never materialised. Fast forward to last July and reports emerged that Roku was hoping to go public this year. On Friday then, the media streaming software and device maker finally made its regulatory filing that revealed it is aiming for $100m in its IPO.

Matrimony.com, a matchmaking service aimed at the Indian market backed by Yahoo, is gearing up for an initial public offering that will launch next week and is expected to bring in $78m in proceeds (though part of that will be existing stockholders selling some of their shares).

Government

RedOwl reaches Forcepoint

Compositence puts acquisition deal together

Investments

Via, the operator of a shuttle-based carpooling service, has collected a reported $250m in funding from a consortium led by Daimler.

LeddarTech, which was spun out of Canada’s National Optics Institute in 2007, has raised $101m in fresh funding.

Innoviz appears on corporates’ radar

23andMe is seeking to top up its capital resources with another $200m – which would nearly double the amount of equity and debt it has raised so far to approximately $445m.

Gritstone Oncology, which is working on personalised cancer immunotherapies, has collected $92.7m in a series B round led by Lilly Asia Ventures with participation from investors including GV.

Entasis restructures $81.9m series B

If you are one of those people who dream about owning a flying car, you may be excited to hear that Lilium Aviation, a company that is working on precisely such technology, today secured $90m in series B funding from a consortium of investors that included Tencent.

Lendingkart shops around for $80m series C

MapR outlines $56m funding round

University

Amal develops $9.6m series B

Minnesota embraces CoreBiome

Prowler.io sneaks into $13m series A

Funds

Investors have long taken note and Fidelity International, which already has dozens of portfolio companies in the area, hopes that a $250m fund set up by its investment arm Eight Roads Ventures will help it grab a bigger piece of the pie.

Qingsong attracts $130m for third fund

Government

Corporate venturing news from Poland are a rarity, but that could be about to change withthe government’s launch of a $225m fund of funds that is expected to back both domestic and international companies hoping to establish investment subsidiaries that support Polish startups.

Ireland sows $24m agtech fund

University

Melbourne gains $64m incubator


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

22 February 2016 – Campbell Soup, Statoil, landscaping in China, MindMaze, Yello, Volvo, Google, Pie and more

Fundraising

Food technology developers like Impossible Foods and Juicero have raised some big rounds over the last year or two and that’s spurring food product makers to start entering corporate venturing in a significant way. General Mills set up a strategic investment unit late last year, and now Campbell Soup has joined the fray, putting $125m into an independently managed fund called Arce Venture Partners. Like Garden Fresh, the fresh food producer it acquired in June last year, the fund will link with the firm’s Campbell Fresh division.

Statoil launches $200 million venture fund for renewables

A range of Italy-based corporates – Menarini, RottaPharmBiotech, Elemaster and SapioLife – are among the limited partenrs for the first fund to be raised by venture capital firm Panakès Partners.

One corporate taking a more direct route is China-based garden landscaping company Palm Landscape Architecture, which is teaming with investment firm Hejun Zhengde for a fund that will focus on virtual and augmented reality technology. Palm has targeted $15m for the fund’s first close, and aims to use the technology to boost its town planning activities.

Investments

China’s media sector continues to grow and LeTV Sports, the sports streaming affiliate of Leshi Internet, is set to announce a $460m series B round.

As predicted, virtual and augmented reality continues to go from strength to strength this year. Following on from the $793m raised by Magic Leap earlier this month, MindMaze has secured $100m in a round led by UK-based conglomerate Hinduja Group. MindMaze’s technology is being utilised in the rehabilitation of stroke and brain-injury victims, but the company hopes to eventually deploy it for a variety of uses.

Japan-based digital financial services group SBI Holdings entered into a strategic partnership agreement with Korea-based mobile internet services company Yello Mobile in December that will involve the two helping each other expand in their respective nations. SBI has followed that up with a $30m investment in Yello, bringing the funding in its latest round, which values it at $4bn, to $73m.

Mobi Magic, a Chinese online security app developer, has raised $100m in a round co-led by cybersecurity company Qihoo360 Technology and Frees Fund, the VC fund formed last year by ex-IDG Capital Partners investor Li Feng. Qihoo 360 was also one of the investors that reportedly supplied Mobi Magic with $80m over the course of 2015.

Jana is an internet service provider that operates in emerging markets, pursuing a business model whereby commercial partners fund free access through advertising. Jana announced a $57m series C round today in which Verizon joined existing investors Publicis and Spark Capital, and plans to expand into China to add to the 30 million users it has across Africa, Asia and Latin America.

Exits

Volvo’s corporate venturing unit invested an undisclosed amount in strategic partner Lytx in 2013, and it has now exited the driving safety technology producer through an acquisition by private equity firm GCTR. Lytx, which had raised upwards of $160m in debt and equity, was purchased for $500m.

Google today announced that it is building its first engineering team devoted to Southeast Asia and toward that end has acquired Pie, a Slack-like team communications service based in Singapore.

Metalysis is today announcing a combined investment of £20 million from Woodford Patient Capital Trust, managed by Neil Woodford, one of Britain’s most prominent fund managers, and Iluka Resources, an existing investor in Metalysis.  Iluka increases its interest in the Company to 28.8% as a result of this funding round.

Metalysis’ technology produces metal powders – primarily titanium, tantalum and bespoke alloys – at lower cost with reduced environmental impact.

Cybersecurity software developer Cylance said today that it has entered into a strategic partnership with In-Q-Tel.

University of Oxford Isis Fund II, managed by Parkwalk, has invested in Mind Foundry, an Oxford Spin-out company with technology that uses advanced machine learning algorithms to help organisations solve problems by unlocking insights hidden deep within their big data.