Internet company Google retired its Renewable Energy Cheaper than Coal fund on Tuesday as part of a ‘spring cleaning’ operation that saw it shut down several projects initiated by the company which it feels it can no longer successfully sustain. Renewable Energy Cheaper than Coal operated as part of Google.org, the firm’s philanthropic division, with… Continue reading Google won’t renew energy initiative
Month: November 2011
Mitsui, ADM team with New Hope
The agribusiness firm is reportedly teaming up with Mitsui and Archer Daniels Midland to establish a corporate venturing fund that will operate outside of China.
Maybank launches $500m cleantech fund
The Malaysian financial services firm is launching the private equity fund in conjunction with investment units connected to the World Bank and US government, and will prioritise power generation infrastructure.
Radius measures the distance ahead
The pharmaceutical company has received the second tranche of a $91m series D round backed by companies including GE, Ipsen and Nordic Bioscience.
Fundraising prediction for 2012
If the world’s economy does slow or turn into recession then fewer corporate venturing units/funds will be started, maybe 25 to 50 compared to about 100 this past year. If the economy continues okay then probably the same again.
Four set up fund in France
Four of France’s largest companies have set up a €30m ($40m) corporate venturing fund to invest in sustainable transport start-ups. State-owned rail company SNCF, oil major Total, mobile phone operator Orange and car maker PSA Peugeot Citroën founded Ecomobilité Ventures, which will be headed by SNCF’s Fabienne Herlaut. Manoelle Lepoutre, executive vice-president of sustainable development and the… Continue reading Four set up fund in France
Ku Yun Dong tries on $30m
The Chinese sportswear website’s latest round reportedly takes it to $40m raised after it received backing from Acquity Group last year.
YuMe advertises itself successfully to Samsung
YuMe, the US-based TV 2.0 advertising technology company, secured $12m in funding on November 16th from Samsung Ventures, the corporate venturing unit belonging to electronics conglomerate Samsung, and venture capital (VC) firm Translink Capital. The investment made up part of a proposed $18m round YuMe, and takes YuMe’s overall funding to about $67.5m since its founding… Continue reading YuMe advertises itself successfully to Samsung
Outblaze flames up its first round
Intel and IDG-Accel are funding a series A round for Outblaze, which develops games for smartphones and tablets.
Xoom raises $25m
The SVB-backed online money transfer company has raised another $25m from existing investors, with an executive from the former Fidelity Ventures among the deal’s signatories.
Groupon shares tumble post-IPO
Groupon’s share price plunged below its starting value on Wednesday less than three weeks after its initial public offering (IPO). Groupon’s share price was set at $20 per share pre-IPO, but began trading on Nasdaq on November 4th at $28 per share, rising to a peak of $31.14 per share on opening day, yet the… Continue reading Groupon shares tumble post-IPO
Unilever, Capvent target Asia
The Capvent Asia Consumption Co-investment Fund (CACC), a $150m fund co-run by consumer conglomerate Unilever and Switzerland-based fund of funds Capvent, has made its first close, according to venture capital website VCCircle. The amount secured for the first close is not known. The anchor investor in the fund will be Unilever’s corporate venturing unit, Unilever… Continue reading Unilever, Capvent target Asia
BDMI sees growth in Adspert
The corporate venturing unit of Germany-based media group Bertelsmann is putting six-figure faith in online ad agency Adspert.
Mitsui helps iPlus drink $10m
China-based baby and childcare product company iPlus secured more than $10m in funding on Monday from Mitsui Global Investment, the growth investment division of Japan-based conglomerate Mitsui, and financial services firm the SBI Group, according to news provider PEdaily. Founded in 2006, iPlus deals in mother-and-baby products and services, and has built up a distribution… Continue reading Mitsui helps iPlus drink $10m