Weekly corporate venturing deal net 31 August – 4 September 2015
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
Macnica engineers corporate venturing arm
The newly established Macnica Ventures will seek out ICT and emerging technology startups to help extend its reach to markets and businesses.
IDG Ventures USA closes $120m third fund
International Data Group’s US-based corporate venturing affiliate, which makes early stage investments in software developers, has closed its latest fund.
McRock rolls to $65m to close fund
Venture firm McRock Capital has reached the target for its industrial internet of things fund, backed by limited partners including Cisco and EDF.
Shanghai Pharma targets $471m for fund
The pharmaceutical company has set a $471m target for an investment unit that will fund healthcare startups.
Valeo drives fundraising for Sino French fund
Automotive parts supplier Valeo has backed the Cathay Capital-formed Sino French Innovation Fund, which aims to raise about $280m before close.
People
Comstock promoted to vice chair of GE
Beth Comstock who leads corporate venturing unit GE Ventures, has been appointed General Electric’s newest vice chair.
Kuppam to be the alpha at Epsilon
Sudheer Kuppam has left Intel Capital, where he oversaw its Asia Pacific investments, to form a venture firm called Epsilon Venture Partners.
Sachdeva leaves Brand Capital for new fund
Gaurav Sachdeva has moved on from his position as general manager at Brand Capital, the investment arm of Times Group, to join JSW Venture Fund.
Lo seeks high at AMP New Ventures
Alfred Lo has left corporate joint venture fund Optus Innov8 to head AMP New Ventures, the unit formed by financial services provider AMP in March.
Karia leaves SVB for new pastures
Bindi Karia, who joined Silicon Valley Bank from Microsoft in 2013 to head its accelerator activities, has left to seek new entrepreneurial challenges.
Exits
All roads lead to $64m Sadbhav IPO
Road builder Sadbhav Infrastructure Projects secured $31.6m from anchor investors including Tata and Tata AIG Life Insurance as part of the initial public offering.
CytomX marks the spot for $100m IPO
The cancer treatment developer has raised $165m in venture capital from investors including pharmaceutical companies Roche and Pfizer.
Amazon calls down $500m Elemental acquisition
The video services provider has raised more than $40m since 2006 from backers including Telstra, BSkyB, Citrix and the Disney-affiliated Steamboat Ventures.
IT
The series C round reportedly marked Salesforce Ventures’ largest ever investment as well as quote-to-cash software provider Apttus reaching unicorn status.
Capillary channels $45m for series C
Retail analytics software provider Capillary Technologies, backed by American Express and Qualcomm, raised the funding from backers including Norwest Venture Partners.
Intel pledges $50m to quantum computing venture
The cash will go towards developing quantum computing technology in partnership with Delft University of Technology and research agency TNO.
Health
Gauss mops up $12m for series A
Summation Health Ventures, a fund backed by two healthcare systems, was among the investors in a round that will support commercialisation of Gauss’s blood loss monitoring system.
Investors inject CeQur with $100m
The funding will support the Danfoss spin-out in the run up to the commercial launch of its insulin delivery device in 2016.
Intellia assembles $70m series B
Novartis, which previously co-led the gene editing technology developer’s $15m series A, has returned to participate in its latest round.
ADC gets $80m in AstraZeneca-backed funding
The pharmaceutical company, which invested $20m in cancer drug developer ADC Therapeutics in 2013, returned to back an $80m private placement.
WuXi PharmaTech helps pump $42m into Ivenix
The series D round is the first financing Ivenix has secured since it rebranded in April 2014, and almost doubled the company’s total funding to about $90m.
Media
Mobcrush rallies investors for $11m series A
Lionsgate, Modern Times and CAA previously backed Mobcruush’s $4.9m seed round, though none have returned for the live streaming platform’s series A.
Social Touch hits up Legend for $59m
Legend Holdings provided series D funding for Social Touch, having previously also invested in a 2013 series C round that raised an undisclosed amount.
Wanda buys ticket for 20% of Mtime
Wanda Cinemas has invested an undisclosed sum in the online movie ticket seller following a collaboration agreement signed in July.
Investors trust NewsCred with $42m
NewsCred, a marketing software producer that has raised cash from AOL and Digital First in the past, has now secured more than $85m in funding altogether.
Consumer
IDG helps drop off series B for Linqu
Food delivery company Linqu has secured an undisclosed amount in series B from investors including IDG Capital Partners and Qiming Venture Partners.
TVS has committed to providing $3.8m, with the remaining cash provided by private individuals and family offices.
Take Eat Easy puts feet up for $11m
Rocket Internet has backed a series B round for food delivery service Take Eat Easy, raised less than five months after a $6.4m series A.
Letgo secures huge $100m series A from Naspers
The classified listings platform was launched just over six months ago but is hoping its mobile-focused service can topple more established players such as eBay and Craigslist.
IDG dresses $37.8m series C for Zivame
IDG Ventures India has returned to back the lingerie e-commerce company for a third time, bringing its total capital to about $47m.
Bauer dishes up $15m for Yummly
Unilever and Intel-backed recipe search platform Yummly has increased its total funding to almost $23m following a series B investment by Bauer Media.
Financial
Tiger Brokers catches Xiaomi for $15.7m round
The online brokerage service, launched in June 2014, has closed a series A round led by smartphone maker Xiaomi.
Energy and Natural Resources
Water Planet heats up with series B
A regulatory filing indicates the water treatment company had raised at least $8.4m from backers including Air Liquide’s corporate venturing unit.
Corporates prove WellAware for $16m round
Mitsui and Genscape have co-led a $16m series B-1 round for remote oilfield monitoring company WellAware, which has now raised more than $60m in total.
Transport
Lockheed Martin joins Peleton’s funding cycle
Lockheed Martin has joined the truck safety software developer’s series A round, co-led by Denso and Intel, boosting its size to $17m.
Uber’s Chinese subsidiary captures $1bn
Baidu followed up its $600m in Uber by participating in a $1bn fundraising for Uber China, which could be set to spin out in an initial public offering.
Tencent-backed EV manufacturer NextEV revs up
The electric vehicle startup has secured Tencent as an investor and plans to launch its first product, a supercar, next year.