03 July 2017 – The Political Environment and Investment

Funds

Cloudflare, an internet technology provider with its own security products, has launched its own $100m fund.

Cybersecurity technology producer Trend Micro has inserted an initial $100m into a newly formed corporate venturing unit that will target disruptive sectors such as the internet-of-things, which its parent company believes will be the next technology mega wave.

Corporates boost Cathay Innovation fund to $320m

Capnamic Ventures, a VC firm that focuses on startups in German speaking regions, has reached the final close of its latest fund, having raised $130m. The fund’s limited partners include Cisco, which announced a $500m German investment drive early last year, as well as AXA Germany, Rheinische Post Media Group and Sparkassen Group.

Applied Ventures joins KVIC for $40m Korea fund

University

Technion institutes $200m fund

Imec expands with $136m fund

Government

BioGeneration begets $75m fund

Horizon approaches $150m fund

Exits

ProSiebenSat.1 sells media-for-equity assets

Online insurance provider ZhongAn has reportedly filed for a $1.5bn IPO in Hong Kong that will allow the company’s co-founders Ping An, Tencent and Alibaba affiliate Ant Financial to exit.

Best Inc, one of several logistics and supply chain services providers to have sprung up in the wake of China’s e-commerce boom, has filed for a $750m IPO in the US.

Takeda subsidiary Millennium Pharmaceuticals and Pfizer have both scored exits in a $75m IPO by Mersana Therapeutics, a developer of antibody drug conjugates that will fight cancer.

Deals

Alibaba paid $1bn for a majority stake in Southeast Asian e-commerce marketplace Lazada last year, and now it’s pumped in another $1bn to take its stake to 83%, giving full exits to backers including Tesco and Rocket Internet, both of which also sold shares in the 2016 deal.

Sources confirmed to Bloomberg over the weekend that Houzz, the Comcast-backed operator of a social image platform for house decoration ideas, has closed a $400m round that valued it at $4bn.

Dynamic glass developer View has doubled its series G round to $200m, $70m of the money coming from BlackRock.

Siemens has joined the participants in electric vehicle charging network ChargePoint’s series G round, which has now closed at $125m.

Naspers reveals $71m Flipkart investment

Brazilian mobile commerce platform Movile has raised $53m in a round that included longtime investor Naspers, which had put up a big part of the $135m the company had raised between 2014 and 2016.

GPU-equipped database developer Kinetica has secured $50m in funding from investors including Citi Ventures, taking its equity financing to $63m in a little over a year.

Government

IDS diagnoses $60m investment

University

Diffblue enters series A spectrum


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

04 July 2016 – Crispr investment, Siemens fund and more Intel Capital people moves plus more

News and Deals

Corporate

On GlobalCorporateVenturing.com, the week’s biggest news was the downfall of Zenefits, a US-based HR software provider that closed a $500m series C round backed by Comcast in May 2015. Not only has the company struggled to deliver on the predicted revenue, but it’s also run into serious regulatory issues.

Zenefits might not be in quite as bad a shape as Theranos, the biotech company whose technology was uncovered to be scientifically unworkable by Wall Street Journal several weeks ago, but I doubt that is of much comfort to any of the investors or the management.

Crispr Technologies has extended its series B round to $140m following a $38m investment.

Thrive Market, an organic produce subscription service, secured $110m in capital to boost its marketing efforts and expand the own-brand product range.

Government

Modern Meadow’s $40m series B round could be a game-changer for a very big industry: the company, now backed by Singaporean government investment firm Temasek, is creating leather in the lab using the building blocks of skin.

University

Allecra Therapeutics, a biopharmaceutical company has attracted $24m in a series B round featuring EMBL Ventures, the investment vehicle of research institute European Molecular Biology Laboratory.

Funds

Corporate and Government

Partech Ventures has closed its growth-stage fund at $440m with limited partners including BPIfrance, the public investment bank of France, as well as Renault, Carrefour, Ingenico, AG2R La Mondiale and CNP Assurances.

Siemens, which already operates a corporate venturing subsidiary and has popped up on our radar regularly, now has launched another unit, named Next47

University

Tsinghua Holdings, an investment firm solely backed by Tsinghua University, has revealed that it plans on providing $7.6bn to research efforts over the next five years.

Exits

Line, the Naver-owned messaging service, has set its IPO range between $26.50 and $31.50 and could potentially raise $1.1bn at a $6.6bn valuation.

Syros Pharmaceuticals floated below its range and brought in $50m.

Sungevity, which has attracted more than $210m in funding in about a decade, and is now merging with listed special purpose vehicle Easterly Acquisition Corporation. The deal gives an exit to GE, Lowe’s and Solon.

People

Intel Capital is still seeing a lot of change following Wendell Brooks taking over leadership. Ameet Bhansali, Anthony Lin, Trina Van Pelt and Bob Nunn have all been promoted to managing director positions, and are joined by Marcin Hejka, Ken Elefant and Ramamurthy Sivakumar who will also take crucial roles.

Comcast Ventures has lost Gavin Teo to B Capital, the VC affiliate of Boston Consulting Group. Teo had joined Comcast Ventures in 2012.

NTT Docomo Ventures has brought on board Takayuki Inagawa as a replacement for Nobuyuki Akimoto. Inagawa took over as head of the unit on Friday.

Paul Harvey, head of Bank of America Merrill Lynch’s Europe, Middle East and Africa technology investment banking unit, has moved on to Octo Telematics to establish a corporate venturing division. Harvey will serve as executive chairman.


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