Rick Wilson, chief executive of Cobalt, said: “In addition to the generous financial support provided by the Whittemore Collection, we now have the world’s most experienced builder of biomass-based businesses on our board supporting us in developing our global enterprise.”
Category: Deals
Alibaba conjures up CNZZ
IDG Capital Partners, the local corporate venturing unit of US-based publisher International Data Group, had originally backed CNZZ in late 2008 with more than $10m before its sale to Alibaba.
Marshall eyes three deals
UK-based industrial conglomerate Marshall Group’s seed stage corporate venturing unit, Martlet, is reportedly close to investing in three local companies. News provider Cabume said the potential deals included wireless communication provider Neul, medical device maker Pneumacare and lighting efficiency provider Isotera, with each potentially receiving between £25,000 and £100,000.
Mitsui gives and takes
Mitsui’s corporate venturing unit has joined the consortium investing $45m in clean-tech firm BioAmber and floated Boingo Wireless.
First deal for Inkef
The $22m round for ProFibrix was co-led by venture capital firm Vesalius Biocapital and Inkef Capital, a quasi-corporate venturing joint venture between pension funds ABP and Omers in its first deal after being set up in June last year.
SustainX takes $20m total
In March, SustainX raised $14.4m from seven investors, including GE Energy Financial Services and VC firms Cadent Energy Partners, Polaris Venture Partners and Rockport Capital Partners, as part of a then-planned $17m round.
Pfizer plans Shanghai Pharma pipe
Four investors have agreed to back Shanghai Pharmaceuticals with $550m to support its initial public offering. Pfizer and Bank of China will each invest $50m, Singapore state-backed Temasek will buy $300m of shares and Malaysia-based conglomerate Guoco Group the remaining $150m.
RenRen to list this week
Shareholders will sell 10.2 millions ADSs, each representing three class A shares, and RenRen issue 42.9 million ADSs. A further 8 million ADSs are available if demand is strong enough with an estimated company valuation of about $4bn.
IDG moves quickly for Agile
TC Meenakshisundaram and Hemir Doshi of IDG Ventures, which is raising its second India-focused fund, will join the board of Agile.
Intel backs two in China
Intel Capital’s $500m Intel Capital China Technology Fund II backs United Information Technology and B-Soft.
Deal round-up: April 2011
To report a deal in Global Corporate Venturing, contact James Mawson at jmawson@globalcorporateventuring.com
Positron helps MConcierge’s service
Alongside Positron in backing MConcierge Systems were venture capital firms Real Ventures, Montreal Start Up and Palos Capital.
Tuniu calls on Rakuten for round
Other investors included venture capital firms Sequoia, DCM and Highland Capital.
140 Proof finds its BlueRun again
BlueRun also participated in 140’s first $2m round, which also included angel investors.