Funds
Japan-headquartered venture capital firm Anri has formed a fifth fund called ANRI Fund V and secured ¥14bn ($101m) of a ¥40bn target, from limited partners including digital media group Gree and financial services firm Mizuho Bank. Japan Investment Corporation and unnamed other institutional investors filled out the LP roster, and the fund will invest in internet technology developers and university spinouts.
Portage Ventures, the financial technology-focused VC vehicle for Canada-based conglomerate Power Financial Corporation, has closed a $655m third fund. It targets seed to series C-stage fintech companies based in the United States, Canada and Europe.
M&A
Physical space analytics group Density has acquired Prevision.io, a France-based data science software developer backed by rail operator SNCF, for an undisclosed amount. SNCF’s Digital Ventures unit led a $1.7m seed round for Prevision in 2017 that was followed by a $7.1m seed round in late 2020.
Reverse merger
NewAmsterdam Pharma, a Netherlands-based heart disease therapy developer backed by healthcare provider Kaiser Foundation Hospitals and clinical research group Medpace, has agreed a reverse merger with Frazier Lifesciences Acquisition Corporation, a special purpose acquisition company listed on the Nasdaq Capital Market. Frazier Healthcare Partners and Bain Capital Life Sciences co-led a $235m private investment in public equity (PIPE) financing supporting the deal that included RA Capital Management, GMT Capital, Medicxi, Panacea Venture and unnamed other institutional investors. Existing NewAmsterdam investors Forbion, LSP Dementia Fund and Morningside Ventures also took part in the PIPE. The company will have a total pro forma cash balance of at least $470m once the transaction is completed.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Cleerly | Heart disease care provider | Healthcare | US | C | 223 | 25/07/2022 | Novartis, Cigna (Cigna Ventures); Fidelity Management and Research Company (co-lead), T Rowe Price Associates (co-lead), T Rowe Price Investment Management (co-lead), Sands Capital, Piper Sandler (Piper Sandler’s Merchant Banking and Heartland Healthcare Capital funds), Mirae Asset Capital, Peter Thiel, Breyer Capital, Vensana Capital, LRVHealth, New Leaf Ventures, DigiTx Partners |
| Aptos Labs | Blockchain platform operator | IT | US | A | 150 | 25/07/2022 | FTX (FTX Ventures), Jump Trading Group (Jump Crypto), Circle (Circle Ventures); Andreessen Horowitz, Multicoin Capital |
| Octopus Energy Group | Renewable energy retailer | Energy and Natural Resources | UK | N/A | 113 | 26/07/2022 | Origin Energy |
| Kitchen United | Ghost kitchen and resturant hub technology developer | Consumer | US | C | 100 | 25/07/2022 | Alimentation Couche-Tard, Circle K, Kroger, Restaurant Brands International, Simon, Phillips Edison, The Havi Group, Alphabet (GV), DivcoWest, Rich Product Corporation; Fidelity (Fidelity Investments Canada), B Riley Financial (B Riley Venture Capital), Cali Group, GoldenArc Capital, General Global Capital, Harry Tsao, John Miller, Michael Montagano, Peyton Manning |
| Arable | Agriculture intelligence software provider | Industrial | US | C | 40 | 25/07/2022 | Qualcomm (Qualcomm Ventures), Grupo Jacto; Galvanize Climate Solutions (lead), Prelude Ventures, S2G Ventures, Ajax Strategies, Middleland Capital, M2O, iSelect Fund |
| Theator | Surgical technology provider | Healthcare | US | A | 39.5 (updated) | 22/07/2022 | Mayo Clinic; Insight Partners (lead), Blumberg Capital, NFX, StageOne Ventures, iAngels, Neil Hunt, Icon, Ariel Cohen |
| SCB Abacus | Alternative digital lending platform spun off by financial services group SCBX | Financial | Thailand | B | 20 | 22/07/2022 | N/A |
| Asobica | Owner of customer success platform Coorum | Services | Japan | N/A | 19.9 | 26/07/2022 | Salesforce (Salesforce Ventures), Dentsu (Dentsu Ventures), Digtal Advertising Consortium, Mizuho Bank (Mizuho Capital), Aozora Bank (Aozora Corporate Investment), CyberAgent (CyberAgent Capital), Mitsubishi UFJ (Mitsubishi UFJ Capital), Sumitomo Mitsui Banking Corporation (SMBC Venture Capital); Fidelity (Eight Roads Ventures Japan), Pksha Sparx Algorithm 1, Chiba Dojo (Chiba Dojo Fund) |
| Topl | Blockchain ecosystem operator | IT | US | A | 15 | 25/07/2022 | Republic (Republic Asia) (co-lead); Mercury (co-lead), Cryptology Asset Group (co-lead) |
| Thinkings | Operator of recruitment system Sonar ATS | Services | Japan | B | 11.9 | 26/07/2022 | Mizuho Bank (Mizuho Capital), JA Mitsui Leasing; Incubate Fund (lead), XTech Ventures, I-Nest Capital, SMBC Nikko Securities |
| DSCVR | Web3 social network operator | Media | US | Seed | 9 | 26/07/2022 | Bertelsmann (BDMI); Polychain Capital (lead), Upfront Ventures, Tomahawk VC, Fyrfly Venture Partners, Shima Capital |
| XY Sense | Occupancy sensor and analytics platform | Services | Australia | Pre-A | 8 | 25/07/2022 | Johnson Controls (JCI Ventures); InterValley Ventures (lead), Blackbird Ventures, OneVentures |
| Kamui Pharma | Drug discovery spinout of Asahikawa Medical University | Healthcare | Japan | B | 4.8 | 26/07/2022 | Cyberdyne (CEJ Fund), Digital Garage (DG Incubation), Mitsubishi UFJ (Mitsubishi UFJ Capital); Hokkaido Venture Capital, Katsutoshi Hirose |
| Algal Bio | Algae cultivation technology platform developer | Industrial | Japan | B1 | 4.3 | 26/07/2022 | Mizuho Bank (Mizuho Capital), Resona Bank (Resona Capital), Mitsubishi UFJ (Mitsubishi UFJ Capital); Development Bank of Japan (DBC Capital), University of Tokyo (Edge Capital Partners), Scrum Ventures |
| AnyCarry | Last-mile logistics services provider | Services | Japan | N/A | 4 | 26/07/2022 | Itochu (Itochu Technology Ventures), Eneos (Eneos Innovation Partners), Seino Holdings (Logistics Innovation Fund), JA Mitsui Leasing, Resona Bank (Resona Capital) |
| DigiBuild | Blockchain-enabled construction project developer | Industrial | US | Seed | 4 | 25/07/2022 | Build Technologies; Y Combinator, Draper Associates, Harvard University, Picus Capital, Bluefield Capital, Cathexis Holdings (Cathexis Ventures), MH Carnegie, OrangeDAO, Chain Reaction, co-founders of PlanGrid |
| The Fashion Kingdom | Fashion and beauty e-commerce marketplace | Consumer | Egypt | Seed | 2.6 | 26/07/2022 | Commercial International Bank (Cventures) (lead); A15 |
| Medmain | Provider of digital pathology support platform PidPort | Healthcare | Japan | N/A | 2.2 | 26/07/2022 | PSP |
| SpiderVille | Web3 music platform developer | Media | Singapore | Pre-Seed | 1 | 26/07/2022 | Contents Technologies, Samsung (Samsung Next); unnamed angel investors |
| Rabbit Care | Online insurance marketplace | Financial | Thailand | C | N/A | 26/07/2022 | VGI; Winter Capital (lead) |
| 3RT | Hardwood technology developer | Industrial | Australia | N/A | N/A | 26/07/2022 | Henkel (Henkel Tech Ventures) |
