General Electric had considered spinning out its corporate venturing operation, but has now shifted its focus to finding a buyer for a portfolio consisting of stakes in more than 100 companies.
Author: Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
Avi networks its way to VMWare acquisition
Avi Networks, which raised $115m from investors including Cisco Investments, has agreed to an acquisition by VMWare for an unspecified sum.
SoftBank works out $300m Gympass investment
The round, reportedly $300m in size, featured both SoftBank’s Vision Fund and its Latin America Fund, valuing the gym subscription service at more than $1bn.
ADC Therapeutics adjusts series E to $276m
Cancer therapy developer ADC has attracted $76m to extend its series E round, after AstraZeneca supported a $200m initial tranche in 2017.
Sense Photonics grasps $26m in series A
Sense Photonics will use the proceeds from the round, which includes Samsung Ventures and Shell Ventures, to bring its lidar system to market.
Merck tackles $773m Tilos acquisition
Merck & Co will pay up to $773m to acquire biopharmaceutical developer Tilos Therapeutics providing exits to co-founders Boehringer Ingelheim and Partners HealthCare.
HRB catches Wave in $405m acquisition
Wave Financial, the financial management software developer backed by National Australia Bank, Royal Bank of Canada and Power Corporation, has been bought by H&R Block for $405m in cash.
Vectra collects $100m in series E round
AI-based cybersecurity technology developer Vectra, whose shareholders include Intel, Nissho, Juniper Networks and Wipro, has boosted its total funding to more than $200m.
Yanolja secures Booking in $180m series D
Yanolja has collected $180m in funding from Booking Holdings and Singapore’s sovereign wealth fund GIC, valuing the short-term room rental service at more than $1bn.
Innoviz increases series C round to $170m
Lidar technology producer Innoviz has closed its series C round at $170m, two and a half months after raising an initial $132m tranche featuring Harel Insurance and Phoenix Insurance.
Nubank to account for $1bn
Nubank is in talks with SoftBank to lead a funding round of up to $1bn that could more than double the fintech’s valuation to between $8bn and $10bn as it pursues additional markets.
Thumbtack pins down $120m series H
Online services marketplace operator Thumbtack has added $120m to its funding arsenal, bringing the Alphabet-backed company’s total equity to more than $390m.
Sansan sets price for $360m IPO
CyberAgent, GMO, Japan Post, Nikkei, Nippon Life, Recruit and Salesforce-backed Sansan priced its shares at the top of its range today and will raise $360m including the over-allotment option.
Hupu hops to $182m pre-IPO round
ByteDance has paid $182m for a 30% stake in sporting media portal Hupu as the latter prepares to go public in its home country of China.