GE has seen more than 5,000 submissions for its $200m Ecomagination corporate venturing fund. Within a year, and in just one segment it invests in, GE has become one of the world’s largest corporate venturers by committing $134m to more than 20 portfolio companies identified by its Ecomagination Challenge.
Month: June 2011
Foundation brushes up on Affineti
George Heinrich, chief executive of Foundation Venture Capital Group, said: “The link between gum disease and cardiovascular disease is strong enough for us to consider that Dr Fine’s [Affineti founder Daniel Fine who is also a professor and chair at Department of Oral Biology at University of Medicine and Dentistry of New Jersey-New Jersey Dental School] research will impact health on many levels.”
Assocham starts fund
Local telecoms conglomerate Spice Mobility said it would cornerstone the Assocham fund by committing 10% to 20%.
Think’s electric car stops
In a regulatory filing, US-based battery maker Ener1 said it was taking a $35.4m charge for loans to Think “based on the announcement by Think Global that, following an extended and ultimately unsuccessful search for long-term financing, it will file bankruptcy proceedings in the Norwegian courts on June 22”.
Transphorm takes up D round
Quantum Strategic Partners, an investment fund managed by Soros Fund Management, joined the D round of Transphorm as a new investor alongside Google and venture capital firms Kleiner Perkins Caufield & Byers, Foundation Capital and Lux Capital.
GKN drives into Evo Electric
UK-listed industrial group GKN has made its first public corporate venturing deal by buying a 25.1% stake in Evo Electric, a local clean-tech power company for cars. Alongside the £4m ($6.4m) purchase of shares, GKN has agreed to invest £1m in a joint venture – known as GKN EVO eDrive Systems – between its Driveline… Continue reading GKN drives into Evo Electric
Intel Capital reaches rainbow’s end
Intel Capital has now made investments in 50 countries and said its deal with Altech would be used to provide broadband services in Africa.
Kior floats with $150m
Kior sold 10 million shares below its $19 to $21 per share range and two of its investors, venture capital firms Khosla Ventures and Artis Capital Management, said they would buy up to 3.5 million shares at its listing price in the initial public offering, according to its regulatory filing.
GE picks second round of winners
General Electric backs 10 companies and awards five with $100,000 each.
Cloud9 reaches sky high
Accel Partners portfolio company Atlassian Software backs peer Cloud9’s $5.5m A round.
Oracle set to absorb Fatwire
The computing corporation is looking to beef up its web content management service by acquiring Fatwire Software.
Contour recharges with series C deal
The rechargeable battery specialist expands to Singapore after announcing a new round of investment.
Kyruus launches in rude health
The US-based healthcare data company secures series A investment from a wide range of investors.
Europe lags US accelerators despite growth
UK-based quasi-public organization National Endowment for Science, Technology and the Arts (Nesta), Global Corporate Venturing and Kauffman Fellows identify main US and European accelerators and incubators.