The leading corporate venturing investors continued onwards,upwards and even sideways in 2013, which can be seen in depth for our subscribers in our annual data supplement. Google began investing through its later-stage Google Capital unit and took a step further away from its core internetbusiness with the launch of Calico, focused on tackling the health and well-being problems of old age, while Intel Capital added four investment sectors – datacentre software, newdevices and wearables, security, and ultra-book and perceptual computing.Intel Capital, the corporate venturing and strategic investmentunit of semiconductor chip maker Intel, has declaredthat during the year it made 146 investments – 63 new – totalling $333m, with 49% of the investments made outside NorthAmerica.
Also in 2013, Intel says it made 33 exits – six initialpublic offerings (IPOs) and 27 M&As.Google Ventures, the corporate venturing unit of internetcompany Google, declared in its 2013 review it hadmade 75 new investments and achieved 10 exits. Its portfolionow consists of 225 companies in multiple sectors –consumer internet (33%), mobile (28%), commerce (18%),enterprise and data (11%), life sciences (6%) and energy(4%).The review highlights how these portfolio companieshave been “changing the future” of medicine, transportation,energy, finance, education and shopping – such asCustomMade taking orders for 2,000 engagement rings.
Google Ventures names 65 deals in its review. Meanwhilethe company’s new later-stage venturing unit Google Capitalstarted investing. Deals included backing SurveyMonkeyand Lending Club.Qualcomm Ventures, the investment arm of the semiconductor and wireless technology company, says it closed 33 new deals and made 36 follow-on financings,and achieved six notable exits in 2013.SR One, the corporate venturing unit of UK-based pharmaceuticalcompany GlaxoSmithKline, says it “had one ofthe most active years ever”. It says it invested in nine newdeals and nine new rounds for existing companies as wellas 14 milestone-driven tranches.SAP Ventures, the corporate venturing unit of the Germany-based technology company, says it participatedin 24 direct portfolio company deals.
The SAP VenturesFund I invested in five new deals and 14 follow-ons, SAPHana Real Time Fund invested in four new deals, while thenew $650m SAP Ventures Fund II started investing withtwo deals. At the time of raising the fund last October, SAP Ventures said it had secured12 exits, five of them IPOs.
Novartis had four new investments – Gensight, Intersection,Effector and Aglea – and 15 follow-ons. BP says it“had a very busy year”, closing new deals involving Eos,Infuse, FoTech and Taxon, taking its deal total to 18 includingfollow-ons.American Express said in November last year it hadmade 16 investments, with “a few more in the works” anticipatedto close by the end of 2013.Nokia Growth Partners says: “2013 has been an activeand engaging year, with $250m in new funds, 11 new investments in mobile technologies as well as a few landmarkportfolio exists. Wehave also witnessed a change of course by our limited partner Nokia. First, by Nokia’s acquisition of Siemens’ part of Nokia Siemens Networks [now Nokia Solutionsand Networks],making it a fully-owned Nokia company. Second,through the acquisitionof Nokia’s devices and services unit by Microsoft, a transaction likely to closein the first half of 2014.”Verizon made six new investments and eight follow-onsfor a total of 14 deals, though not all investments were publicly disclosed.
GM Ventures, the corporate venturing unit of automaker General Motors, says it had a “very productive year, with atotal of 10 investments (four new, six follow-on). The total invested during 2013 was about $35m, and represented allfive of GM Ventures’ focus areas of automotive clean-tech,infotainment, advanced materials, sensors and processingtechnology, and new business models”.Aramco concluded nine deals in 2013, though only sixwere disclosed. Juniper did 7 new deals plus 8 follow-ondeals, though again not all disclosed
Some corporate-linked venture funds had a busy 2013.High-Tech Gruenderfonds, the Germany-based state ventureinvestor, which is backed by numerous German corporates,said it had 38 closings and 125 follow-up rounds.Iris Capital, multi-corporate-backed by the likes of FranceTélécom, Publicis and Saudi Telecom Ventures, said it did21 deals in 2013, with a total amount invested of €57m,including 12 deals in Europe, three in North America, twoin Asia and four in the Middle East, through STC Ventures.
Xange Private Equity, which is backed by multiple corporateinvestors including France-based mail service LaPoste, said it had secured seven trade sales within itstechnology and innovation team – the sale of Kiala toUPS, Delamaison to Leroy Merlin, Iptego to Acme Packet,Impika to Xerox, Run-myprocess to Fujitsu, Webedia toFima-lac, cross-channel marketing company Neolane toAdobe, and big data specialist Kxen to SAP.