IGM Financial has invested $50m in the BBVA and USAA-backed digital wealth manager at a $50m valuation and will provide another $25m next year.
Month: May 2016
GCV Award: Fund of the Year – Nokia Growth Partners
Speaking to GCV shortly after the fund was unveiled at the Mobile World Congress in Barcelona, Bo Illsoe, an NGP managing partner, said: “We are supporting the direction Nokia wants to take. It is taking long-term bets to support the internet-of-things ecosystem through investments and partnership.” The $350m fund – so far, the firm’s “biggest… Continue reading GCV Award: Fund of the Year – Nokia Growth Partners
GCV Award: Lifetime Achievement Award – Reese Schroeder, Motorola Venture Capital
Schroeder’s boss, Motorola Solutions’ chief technology officer Paul Steinberg, recalled attending last year’s Global Corporate Venturing Symposium. “The thing that struck me most when I was in London last summer was the number of people I spoke with who said, ‘Reese told us how to set up our venture group,’ or, ‘Reese was my mentor,’… Continue reading GCV Award: Lifetime Achievement Award – Reese Schroeder, Motorola Venture Capital
Kateeva successfully screens investors for $88m series D
BOE and TCL joined existing investors including Samsung and Veeco Instruments for a round that boosted OLED display technology provider Kateeva’s total funding to $200m.
Celgene helps Agenovir catch $10.6m
Agenovir is commercialising technology developed at Stanford University and Howard Hughes Medical Institute that could eliminate currently untreatable viruses.
GCV Award: Unit of the Year – GE Ventures
If imitation is the sincerest form of flattery, then IBM paid GE Ventures the highest compliment earlier this year when it hired George Ugras as the new head of IBM Ventures.
VNG carves out Tiki investment
Internet company VNG has purchased a 38% stake in e-commerce company Tiki, already backed by CyberAgent and Sumitomo, in return for a $16.7m cash injection.
Corporates connect to Afero’s series A
Samsung has led a $20.3m first funding round for Afero that also included SoftBank, Sumitomo, Sanshin Electronics and Infocom-backed Fenox.
Liberty Mutual forms $150m fund with August investment
The insurance firm’s Liberty Mutual Strategic Ventures unit will target technologies compatible to its industry, and its first portfolio company is smart lock developer August Home.
IDG Ventures India forms e-commerce initiative
The corporate-backed venture firm plans to invest in up to 25 startups through Digital Consumer Innovators Program this year, providing up to $5m at a time.
Spinell picks up Slack CVC role
Jason Spinell has been hired as an investor for messaging platform Slack’s $80m corporate venturing fund, which it announced in late 2015.
Possible buyers emerge for Intel Capital’s $1bn asset sale
Coller Capital, HarbourVest Partners and Lexington Partners have reportedly requested information on a planned sale of stakes collectively worth up to $1bn.
Jugnoo revs up for $100m series C
The on-demand auto rickshaw service, which has already raised $16m from investors including Paytm, plans to raise between $50m and $100m in its next round.
Reply answers startups’ call
Breed Reply, the UK-based internet of things (IoT) incubator run by digital services company Reply, recruited three more startups to is portfolio on Tuesday, increasing it to a total of 11 companies. The startups in question are Netherlands-based agritech company Connecterra, UK-based consumer wellness business Kokoon and France-based cybersecurity technology developer Sentryo. Connecterra is using… Continue reading Reply answers startups’ call