The internet company has paid $31.8m for an 8% stake in media group ChinaVision, which has itself acquired the China Entertainment Media Group.
Month: October 2011
OpenSky expanded with $30m
The celebrity-focused online retailer has raised $30m in its series C round as it looks to expand its range of products.
Sci-preneurship contest winners announced
The European Intel-backed student innovation competition was won by a team which devised a food expiration detector.
Biogen Idec points Portola towards $500m
Biogen Idec has invested $45m in pharmaceuticals company Portola as part of a commercialisation agreement that could eventually be worth more than $500m.
GE concentrates on solar power in Spain
GE Energy Financial Services has teamed up with investment firm KGAL to finance a concentrated solar power plant built by construction and technology firm ACS.
China’s railways toot for $15.7bn
China’s Ministry of Railways is to set up a private equity fund, according to a report in the China-based financial newspaper 21st Century Business Herald. The fund could potentially raise up to CNY100bn ($15.7bn) from banks, insurance companies and the National Council for Social Security Fund, which manages the Chinese state’s social security assets. A… Continue reading China’s railways toot for $15.7bn
Corporates fail to help portfolio companies
The effect of corporate VC investments on productivity turns out to be “negligible”, according to the report, Venture capital: Policy lessons from the Vico project – a European Union-funded research of 8,370 European high-tech entrepreneurial firms.
Corporates should help portfolio companies
More examples and evidence of innovation, jobs and sales growth is needed to reassure entrepreneurs and other syndicate investors but the evidence is pointing that more needs to be done, and quickly. (reader feedback below)
Brammo and Polaris aim for the stars
Polaris Industries has helped electric motorcycle manufacturer Brammo to close its series B round at $28m.
4Info catches Mitsui’s eye
US-based mobile advertising company 4Info secured $14m in funding on Thursday from Mitsui Global Investment, a division of Japan-based conglomerate Mitsui, and media holding company Gannett, as well as venture capital firms Draper Fisher Jurvetson (DFJ) and US Venture Partners, and Microsoft co-founder Paul Allen’s private investment firm, Vulcan Capital. DFJ and US Venture Partners were… Continue reading 4Info catches Mitsui’s eye
Curetis adds Roche to its backers
Germany-based molecular diagnostics company Curetis expanded its series A round on Wednesday to €34m ($48.3m). The additional investment of €9.6m was provided by Roche Venture Fund, the corporate venturing unit of Swiss pharmaceutical company Roche, and venture capital (VC) firms Forbion Capital Partners and CD-Venture. Other investors in Curetis’ series A round prior to this… Continue reading Curetis adds Roche to its backers
LSI digs into SandForce
Semiconductor firm SandForce is acquired by one of its investors, the LSI Corporation, for $322m.
SVB pays fare for Proterra
Proterra, manufactuer of a new kind of electric bus, has raised $15m from the Silicon Valley Bank, to add to the $30m it received in June from backers including Mitsui and GM.
General Motors takes turn at RelayRides
Car sharing service RelayRides has beefed up its series A round with a further $3m, with GM Ventures the prime investor.