China-listed media group Tencent has invested in local peer Caixin Media. However, Caixin Media said Tencent will not be involved in the company’s daily operation. Zhejiang Daily Media Group still owns 40% of Caixin after investing RMB40m ($600,000) at the portfolio company’s launch at the end of 2009.
Month: August 2012
Innovation Works raises $150m
Innovation Works closed its first dollar-denominated fund at $180m in September last year while Tencent committed to the RMB700m Development Fund.
Purplestream goes to Hub Media
Purplestream is also relocating to Singapore to launch its broadband video serivce in Asia.
PCCW rides to Vision Knight
Vision Knight Capital, a private equity fund co-founded by David Wei (pictured), former chief executive of China-based online retailer Alibaba, is trying to raise $300m.
Motion Beat walks with Small Bridge
Motion Beat, a Japan-based internet advertising company formerly known as NGI Group until this year, has invested Y40m ($600,000) in Small Bridge, which operates the online learning service Cafetalk, through its corporate venturing fund, NGI Venture Community Fund II.
Quan shops with Netprice
Quan, a Japan-based smartphone messaging application developer, has sold shares to local e-commerce firm Netprice and venture capital firm East Ventures.
Dentsu markets Sonix deal
Dentsu set up a Y10bn ($125m) corporate venturing fund, Dentsu Digital Fund, in October 2010.
KDDI takes Tolot’s photo
KDDI, a Japan-based phone operator, has seen two of its corporate venturing unit’s portfolio companies raise money. KDDI Open Innovation Fund has invested in photo book service Tolot while social gift service Giftee has raised Y10m ($120,000) from venture capital firms Digital Garage and Sunbridge Global Ventures.
NTT calls up Agile Media Network
NTT Investment Partners, a corporate venturing unit of Japan-based phone operator Nippon Telegraph & Telephone (NTT), has invested in local social network Agile Media Network (AMN).
Mizuho backs Locondo
Mizuho Capital and Neostella Capital, a venture capital company sponsored by Mizuho Securities and Dai-ichi Life Insurance, provided the money to Locondo.
Netsket sells shares
Netsket, a Japan-based event organiser, has sold shares to local gaming company DeNA’s $27.5m Incubate Fund. DeNA in turn had been backed by consumer electronics company Sony’s spin-out, SoNet, in 1999 and, separately, Sony has acquired the remaining minoirty equity stake in its internet subsidiary.
Sabic backs Segetis
Segetis, a US-based renewable chemicals company, has raised $25.5m in its series C round from a consortium including a Saudia Arabia-based peer’s corporate venturing unit. Saudi Basic Industries Corporation (Sabic) Ventures led the C round, which also included venture capital firm Khosla Ventures, state-backed Malaysia Life Science Capital Fund (MLSCF), and Netherlands-based industrial group Royal… Continue reading Sabic backs Segetis
RSmart nets $10.75m B round
RSmart, a US-based provider of open source education technology provider, has raised $10.75m in its series B round froma consortium including Tokyo-listed internet service provider Asahi Net and Nasdaq-listed media merchant bank GSV Advisors. Founded in 2006, RSmart raised $2m in 2008, according to its previous regulatory filing. Takashi Takekawa, executive president of Asahi Net… Continue reading RSmart nets $10.75m B round
Onconova drugs itself with $50m
Onconova Therapeutics, a US-based anti-cancer drugs developer backed in India-based peer Cadila Healthcare, has raised $50m, according to a regulatory filing. News provider Philadelphia Business Journal reports that the developer raised $26.4m in a two-part raise earlier in the year. Investors currently represented on the Onconova’s board include Cadila Healthcare, and venture capital firms ICICI… Continue reading Onconova drugs itself with $50m