Funds
UK-based auction house Christie’s formed a corporate venturing fund on Monday called Christie’s Ventures. The unit will target fine art and luxury market-focused financial and Web3 technology developers and its first investment involved it providing an undisclosed amount for omnichain crypto network developer LayerZero Labs.
B Capital, the US-based venture capital firm which is also a strategic partner for professional services firm Boston Consulting Group, reached a $250m close for its Ascent Fund II yesterday. The vehicle will target early-stage deals from pre-seed to series A globally, particularly focusing on the United States and Asia.
Japan-headquartered internet group GMO’s corporate venture capital arm, GMO VenturePartners, launched an ¥11.3bn ($81.8m) fund dubbed GMO Fintech Fund 7 yesterday. The vehicle was formed in partnership with unnamed financial institutions and will back financial and decarbonisation technology companies based across the Indo-Pacific region.
M&A
Health and beauty group FemTec Health has acquired Ava, a Switzerland-based women’s fertility prediction technology producer that counts telecommunications firm Swisscom and financial services firm Zürcher Kantonal Bank as investors, for an undisclosed amount. Ava had raised a total of over $42m as of its most recent round, in 2018.
Cryptocurrency and stock investment platform operator Alpaca has bought AlpacaJapan, a Japan-based licensed broker and dealer backed by investors including corporates SBI Group, Minkabu The Infonoid, Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, NEC Corporation, Ideo and BIP Systems, for an undisclosed sum.
People
Eddi Danusaputro has joined BNI Modal Ventura, the corporate venture capital vehicle for the state-owned Bank Negara Indonesia, he said in a LinkedIn post on Monday. He had stepped down from his chief executive position at Mandiri Capital, the VC arm of Indonesia-based financial services firm Mandiri Bank, last month,
Saskia Howard has departed from her director of external relations role at SoftBank Investment Advisers, the division of Japan-headquartered internet and telecoms firm SoftBank that manages its Vision Funds. She has relocated to the United Arab Emirates and joined VC firm 500 Global as head of strategic relations.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| TAE Technologies | Fusion power technology developer | Energy and Natural Resources | US | G2 | 250 | 19/07/2022 | Alphabet (Google), Chevron, Sumitomo (Sumitomo Corporation of Americas); Reimagined Ventures, TIFF Investment Management, unnamed mutual fund manager, unnamed pension fund |
| Zebedee | Gaming industry-oriented payment processor | Financial | US | N/A | 35 | 19/07/2022 | Square Enix; Kingsway Capital (lead), The Raine Group, Lakestar, Initial Capital |
| Centivo | Startup-focused health plan provider | Financial | US | B1 | 30 | 19/07/2022 | JPMorgan Chase & Co (Morgan Health) |
| Xset | Esports and entertainment group | Media | US | A | 15 | 19/07/2022 | LightWork Worldwide (lead), Concept Art House, GuildFi, Mind Melt Media; Alpha Sigma Capital, Apex Capital Partners, Baron Davis Enterprises, Breakaway Ventures, Gaingels, Gee Roberson Management, Quality Control, TheAlliance, Swae Lee, Whitwell & Co, Worldwide Wes, Young Money, Ezekiel Elliott, Justin Simons, Adrian Colbert, Alkho Witherspoon, Ndamukong Suh, Kyle Van Noy |
| XLD Finance | Cross-border decentralised technology provider | Financial | Philippines | Pre-A | 13 | 19/07/2022 | Digital Currency Group, Circle, Advance AI; Dragonfly Capital (co-lead), Infinity Ventures Crypto (co-lead), Yield Guild Games, Infinity Ventures Crypto, IDG Capital, Insignia Venture Partners |
| SpinTech MRI | Creator of advanced MRI imaging software | Healthcare | US | A | 6.5 | 18/07/2022 | Genesis Innovation Group (Cultivate(MD) Capital Fund); Level 8 Ventures (lead) |
| Manpuku | Business succession service focused on the traditional food industry | Services | Japan | A | 5.9 | 20/07/2022 | Kaga Electronics, Digital Garage & Bank of Yokohama (Hamagin DG Innovation), Mizuho Bank (Mizuho Capital), Mitsubishi UFJ (Mitsubishi UFJ Capital); All-Japan Kanko Rikkoku Fund |
| Sunscreen | Web3 privacy technology developer | Financial | US | Seed | 4.65 | 18/07/2022 | Coinbase (Coinbase Ventures); Polychain Capital (lead), Northzone, DAO5, Naval Ravikant |
| Fanfare | Industrial waste-focused vehicle fleet management software provider | Transport | Japan | Pre-A | 4.6 | 20/07/2022 | Eneos (Eneos Innovation Partners), Sumitomo Mitsui Banking Corporation (SMBC Venture Capital), Mizuho Bank (Mizuho Capital); All Star SaaS Fund, Coral Capital |
| Miive | Employee communication software producer | Services | Japan | A | 4.2 | 20/07/2022 | Z Holdings (Z Venture Capital); Jafco |
| Growcoms | Agricultural optimisation tool provider | Industrial | India | Pre-A | 1 | 20/07/2022 | Info Edge (lead) |
| Gangan | Provider of YouTuber matching platform Talema | Media | Japan | Seed | <1 ($360,000) | 20/07/2022 | Ceres; Hideyuki Shoda |
| Secual | Home security services provider | Services | Japan | N/A | N/A | 20/07/2022 | Digital Garage (DG Ventures), Digital Garage & Bank of Yokohama (Hamagin DG Innovation Fund) |
| The Chain Museum | Digital art platform operator | Consumer | Japan | N/A | N/A | 20/07/2022 | TBS Television (TBS Innovation Partners 2) |
