Weekly corporate venturing deal net 9 – 13 May 2016
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
PayPal pools startups for Start Tank
PayPal has decided to also bring its fintech incubator Start Tank to Singapore, three years after it was launched in Chennai.
VenBio puts together $315m life sciences fund
Amgen, Merck and Baxalta have provided anchor investments to VenBio’s Global Strategic Fund II, which blew past its target size of $250m.
AgTech Accelerator reaps $11.5m
The startup accelerator has launched with funding provided by investors including Bayer, Syngenta and Alexandria Real Estate Equities.
Bangkok Bank ponders venture capital vehicle
The Thailand-based financial services firm has put aside $57m for startup funding but has not decided whether it will invest through a dedicated unit.
Kuang-Chi makes Israeli pilgrimage for $300m fund
The technology conglomerate has pledged an initial $50m for the Israel and China-based Kuang-Chi GCI Fund & Incubator but could grow it to $300m by 2019.
The formation of HP Tech Ventures formalises the split between HP and Hewlett Packard Enterprise’s corporate venturing activities.
Naspers enters Silicon Valley with dedicated CVC unit
Naspers Ventures will look to link the US with Naspers’ international reach, and has also led social learning company Brainly’s $15m series B round.
Corporates get a taste of Cherry’s $170m second fund
ProSiebenSat.1 and Franz Haniel both contributed capital as Berlin-based venture capital firm Cherry Ventures closed its Cherry Ventures II fund.
IDG Ventures India racks up $150m for latest fund
IDG’s Indian venture capital affiliate hopes to reach a $200m final close this year, and intends to use the money to invest at later stages.
PSA unpacks $15m investment unit
PSA International has established an incubator and corporate venturing subsidiary called PSA Unboxed with an initial $15m in funding.
Japanese pharmaceutical company Taiho Pharmaceutical has formed a corporate venturing subsidiary in California to invest in oncology startups.
Online gaming company Gree’s corporate venturing unit has reached the $37m first close of a fund with a $64.5m target, and has already made its first two investments.
People
Swisscom calls up Schlaepfer for investment director role
Alexander Schlaepfer is leaving power and automation corporate venturing platform Aster Capital to join telecommunications group Swisscom’s CVC unit.
Eggen nabs Qualcomm Ventures promotion
Patrick Eggen has been promoted by the corporate venturing unit to managing director for North America.
Verdine heads to WuXi Healthcare Ventures
Gregory Verdine, a founder or co-founder of several publicly-listed pharmaceutical companies, has joined WuXi PharmaTech’s investment arm as a venture partner.
Exits
Intellia goes public with $163m in proceeds
The gene editing company raised $108m in its IPO, floating at the top of its range, while Regeneron and Novartis provided $55m through concurrent private placements.
Bankrupt Jumio identifies Centana as buyer
The assets of Jumio, an online credentials authentication company that had raised $35m from backers including Citi, are set to be acquired by growth equity firm Centana.
Jasper aims for TargetingMantra acquisition
One97 has exited marketing technology developer TargetingMantra following its acquisition by Jasper Infotech, the owner of online marketplace Snapdeal.
NantHealth diagnoses public markets potential
The diagnostics technology developer, backed by Allscripts, Celgene and Blackberry, has filed for an initial public offering provisionally sized at up to $92m.
Viamet walks away from $91m IPO
The corporate-backed pharmaceutical company has postponed an initial public offering for the second time, a week after it set the terms.
IT
Kingsoft Cloud adds $50m to its series C round
Cybersecurity technology provider Kingsoft has contributed to a $50m series C+ round for its cloud computing subsidiary, which raised $60m in series C funding in February.
Reno Sub Systems manufactures $14m series B
MKS Instruments led the round, providing $9.3m, while Intel Capital returned to reinvest in Reno, almost 18 months after taking part in its series A.
GV and Intel reach CoreOS for series B
GV, which previously took part in in the enterprise software developer’s 2015 series A round, has joined Intel Capital for a $28m series B.
Khazanah Nasional Berhad zooms to $100m Fractal investment
Aimia-backed analytics services provider Fractal Analytics has agreed up to $100m in financing from Malaysia’s sovereign wealth fund.
GV goes to Weaveworks in $15m round
Weaveworks, a developer of cloud application management software, has raised $15m in a GV-led series B round that will support product development, sales and marketing.
Health
Starr guides Gushengtang’s $70m series C
Starr Companies has led a $70m round for Chinese medicine provider Gushengtang that also featured insurance firm Ping An.
All G1’s existing investors, including MedImmune, returned for a $47m funding round that boosted the cancer drug developer’s total funding to $92.5m.
Media
Webcasting platform 17 Media has received $23m in funding from sports media company Le Sports’ Innovation Fund and will invest it in Chinese expansion.
Speakaboos goes to market with $12.5m
The Kyowon and Al Sayegh-backed children’s literacy app developer has raised series B-1 funding that will support the launch of a marketing campaign.
Consumer
BigCommerce enlarges funding by $30m
Existing shareholders including Softbank, Telstra and American Express returned to back the e-commerce platform’s $30m series E round, which was led by GGV Capital.
Nan Fung has contributed to a series C round for biotech company Bolt Threads, which emerged out of stealth less than a year ago with $40m in initial capital.
Letgo gets $100m with a Wallapop
Naspers-backed hyperlocal marketplace app Letgo has absorbed the US operations of Spain-based competitor Wallapop, picking up $100m from existing backers in the process.
Financial
Rakuten helps transfer $15m to Azimo
The money transfer network has now raised $46m altogether and will use Rakuten’s help to expand in Asia.
Simplee proves straightforward investment for Amex
Healthcare expenses tool Simplee has attracted American Express to a $20m series C round that almost doubled its total funding to $38m.
SRA hits Tagit with $9m funding shot
Digital banking platform developer Tagit will use the funding to increas staff numbers at its regional offices in a bid to expand in Asia.
Energy and Natural Resources
Nexeon raises $43m in next funding round
The Wacker Chemie-backed silicon anode battery producer will use the capital to acquire intellectual property and invest in development and manufacturing capacity.
1366 heats up with $10m Hanwha investment
Solar wafer producer 1366 Technologies has received $10m from Hanwha Investment Corporation to support construction of its first commercial factory.
Investors wire $12.5m to Sol Voltaics
Nanowire solar cell technology developer Sol Voltaics has raised $12.5m in an Umoe-backed series C round, together with a $4.5m grant from the Swedish government.
Transport
HNA books place in Huoli Tianhui’s $143m series C
Flight and train ticket booking platform Huoli Tianhui is now valued at $332m after closing a round co-led by an HNA Group subsidiary, and is planning a China IPO.
Hyperloop accelerates to $80m series B
GE and SNCF have participated in a series B round for vacuum tube-based transportation system developer Hyperloop One, previously known as Hyperloop Technologies.
Apple signs up for a $1bn ride on Didi Chuxing
Didi Chuxing, the Chinese ride hailing service formerly known as Didi Kuaidi, has received a $1bn strategic investment from Apple that could form part of a $1.5bn round.
Services
Alibaba’s Hong Kong fund backs three
GoGoVan, Shopline and Yeechoo are the first three companies to receive funding from Alibaba’s Hong Kong Entrepreneurs Fund.
Hyakusenrenma opens doors to Keio in $13m round
Railway operator Keio Corporation has contributed to a round that will be used by Hyakusenrenma to make its holiday home rental services multilingual.