AAA Daily Deal Round Up: August 11, 2022

Daily Deal Round Up: August 11, 2022

M&A

Precision medicine producer Gemini Therapeutics has agreed to merge with Disc Medicine, a US-based haematologic disease therapy developer backed by life sciences real estate investment trust Alexandria Real Estate Equities, pharmaceutical firm Novo and conglomerate Access Industries. The combined entity will operate under the name Disc Medicine and take Gemini’s listing on the Nasdaq Global Market. It will have about $175m in cash when the transaction closes later this year, including $53.5m from existing Disc investors such as Novo and Access Industries subsidiary Access Biotechnology.

Human resources consulting firm Kabi Technologies has acquired Bloovo, a UAE-based provider of artificial intelligence-equipped recruitment software, for an undisclosed amount, allowing staffing advisory firm ProCapita HR Consultancy to exit. ProCapita took part in Bloovo’s $3m seed round in 2017.

Funds

Thailand-based electric utility Gulf Energy Development has committed THB2.7bn ($77m) to private equity firm Lightrock’s Climate Impact Fund, which is set to operate for a decade and which focuses on companies that can help impact greenhouse gas emissions.

Hong Kong-based asset management firm Gly Capital Management has closed a $163m private equity vehicle dubbed New Mobility Fund, which was anchored by automotive manufacturers Zhejiang Geely Holding Group and IT services firm SK. Its limited partners include unnamed industrial conglomerates, financial institutions, family offices and high-net-worth individuals across Hong Kong, South Korea, Singapore, the US, Europe and Japan.

Singapore-based insurer Tokio Marine Asia has formed a strategic alliance with fintech and insurtech-oriented venture capital firm Arbor Ventures through its Innovation Lab subsidiary. The corporate’s Japan-headquartered parent firm, Tokio Marine Holdings, had already created a corporate venturing arm called Tokio Marine Future Fund in April this year in partnership with VC group World Innovation Lab.

Funding

CompanyCompany descriptionSectorCountryRoundRound size($m)Deal dateInvestors
Espay Debit Indonesia Koe (Dana)Digital wallet providerFinancialIndonesiaN/A25010/08/2022Sinar Mas Group; Lazada (secondary)
InsilicoAI-driven drug discovery company HealthcareChinaD95 (updated)10/08/2022Saudi Aramco (Prosperity7 Ventures) (lead), Wilson Sonsini Goodrich & Rosati (WS Investment Company); Boston Consulting (B Capital Group), Warburg Pincus, BHR Partners, Qiming Venture Partners, Deerfield, Pavilion Capital, Bold Capital Partners, Alex Zhavoronkov
StradVisionAutomotive perception processing software developerTransportSouth KoreaC8810/08/2022ZF (co-lead), Aptiv (co-lead)
InjectiveFinance-focused blockchain providerFinancialUSN/A4010/08/2022Jump Trading Group (Jump Crypto) (lead); Alan Howard (BH Digital)
FinixSoftware-focused payment technology providerFinancialUSB3010/08/2022American Express (American Express Ventures); The General Partnership, Acrew Capital, Bain Capital (Bain Capital Ventures), Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Partners (PSP Growth), Vamos Ventures, Franklin Templeton
BetaGlue TechnologiesCancer radiotherapy system developerHealthcareItalyN/A10.219/07/2022Intesa Sanpaolo (Neva), Petrone Group (Fin Posillipo), Romed; Panakes Partners, Liftt, Kairos Partners, Innogest Capital, Profequycapital
ViXionEyesight enhancement headset developerHealthcareJapanA7.210/08/2022Senju Pharmaceutical, Exedy Corporation
Only StoryOperator of decision-maker matching platform Chira CEOITJapanN/A7.210/08/2022Nippon Life (Nissay Capital), EggForward, Uzabase; Shoko Chukin Bank (debt), Shizuoka Bank (debt)
CupixelAugmented reality-based art viewing system developerMediaUSSeed510/08/2022Joann Fabric & Crafts (lead)
Fair.xyzNFT minting platform developerFinancialUKSeed4.509/08/2022OpenSea; Eden Block (lead), First Minute Capital, NFX
Data GumboSmart contract technology providerITUSC410/08/2022Saudi Aramco (Saudi Aramco Energy Ventures), Equinor (Equinor Technology Ventures)
FastLabelAI-equipped data software providerITJapanA3.510/08/2022NTT Docomo (NTT Docomo Ventures), Safie, Sony (Sony Innovation Fund); Jafco (lead), Genesia Ventures
CocuusBioprinted meat developerConsumerSpainPre-A2.610/06/2022Cargill (Cargill Ventures); Big Idea Ventures (lead), Universitat Politècnica de València (Tech Transfer UPV), Eatable Adventures
Dank1Sports training app developerServicesJapanN/A1.110/08/2022Oricon
ProfilePrintQuality assessment technology provider for food ingredientsServicesSingaporeA1<1 ($600,000)11/08/2022Cargill
Pier AugéSkincare product manufacturerConsumerFranceN/AN/A08/07/2022S’Young Group
Pattern TechnologiesOnline restaurant aggregatorConsumerPakistanPre-SeedN/A10/08/2022Arbisoft; Deosai Ventures (lead), Sabr Capital, unnamed investors
Direct-CNano-composite polymer technology providerIndustrialCanadaN/AN/A09/08/2022Henkel (Henkel Adhesive Technologies)
EffectivFraud prevention software producerFinancialUSN/AN/A09/08/2022BHG Financial (BHG VC)
Suzhou Electroder Technology Battery design services providerEnergy and Natural ResourcesChinaAN/A09/08/2022Bosch Group (Robert Bosch Venture Capital); Sinovation Ventures
AppOmniSaaS-focused security software developerITUSN/AN/A09/08/2022Cisco (Cisco Investments)
MetaWorld EntertainmentWeb3-based concert, game and event providerMediaUSN/AN/A09/08/2022The Sandbox, Animoca Brands, Com2uS

By Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.