Global Venturing Review: Recent Episodes
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A look back over the past week in corporate, university and impact venturing news from all over the world. The podcast covers investments, exits, fundraising, people moves and more. Presented by James Mawson, founder and editor-in-chief of Global Corporate Venturing, and Thierry Heles, editor of Global University Venturing.
What’s it like to come into corporate VCs from the outside as a contractor?
My guest is Bruno Meireles de Sousa, who is an operating parter at Bidra Innovation Ventures, the CVC of phosphate mining company OCPGroup. And he joined me to talk about what he’s seen going from unit to unit across a number of sectors.
He tells me about his experience going from a very big corporate in Cargill – where he did both venture investing and venture building – to a smaller parent company when joining Bidra Ventures, and what corporates should keep in mind when doing both investing and venture building.
We talk about what indicators he sees that a venture unit is healthy when he parachutes into it, how to effectively bring attention to things that senior leadership might find uncomfortable, and how to gain trust internally when coming in from the outside, and more.
The post Advice from a CVC freelancer appeared first on CVC Unplugged.
The whole point of investing is to hopefully get your money back at some point. But what if, as we’ve seen, the usual routes to doing that are effectively blocked off? Ideally, a VC might want to their startup to go public, welcoming in hundreds of thousands of new investors via an IPO and make their money back, at many multiples, that way. Or they might want a bigger fish to come along and acquire the startup outright at a higher value, providing their returns that way.
But IPO’s have been all but dead for a few years now, and despite previous predicitons that this might finally be the year they come back in earnest, that has not been the case. But people still want their money back, so they’re turning to the secondaries markets, where they can sell their shares in startups outside the context of a larger liquidity event that is out of their control. Secondaries markets have grown rapidly and continue to do so. Their visibility, and the attitudes towards using them, have also changed such that investors are much more comfortable imbedding them as part of their portfolio management strategies.
My guest today is Laurence Levi, partner at VO2 partners, a boutique advisory firm that acts as a broker-dealer for secondaries transactions, as well as a turnkey portfolio management service provider, focusing strongly on corporate VCs.
We talk about how the use of secondaries markets have been on an explosive trajectory, and hav been largely destigmatised, whereas it used to be something many might have considered as an outlet for which things are going badly.
We touch on how the nature of the markets themselves have changed, whether the power balance between buyers and sellers have shifted amid the increase in activity, and where the trajectory is set to go even if other exit routes come back.
We also talk about how startup founders may be feeling about having new shareholders who they never previously envisioned as a result of them buying up shares on the secondaries, how valuations or discounting practices have changed in recent years, and much more.
But first, I talk to GCV’s Kim Moore about how CVCs are opting to sell off parts of their portfolio’s via secondary transactions in order to pivot to AI.
The post Secondaries are breaking into the mainstream appeared first on CVC Unplugged.
The ugly truth behind the AI revolution is that it needs to be powered from somewhere. Every query you make into ChatGPT or DeepSeek of Claude takes energy. Energy that has to be generated at a power plant, transmitted through the grid, and then used at a data centre to process and then send you the answer you seek.
The demand for power from data centres is set to triple globally over the next 10 years. And our grids are not ready. So what’s being done to solve it? How are going to make more power? How are we going to improve our ability send it? How can we reduce demand for it?
GCV recently released a report about this very topic, and I’m joined today by my colleague, GCV deputy editor Kim Moore, to talk about it.
You can read the full report here: https://globalventuring.com/report/global-energy-council-q2-2025/
The post Do we have enough energy to power the AI future? appeared first on CVC Unplugged.
Latin America is one of the fastest growing regions in the world, with a growing number of unicorns, an increasing array of international investors looking to get a foothold, and ever more savvy entrepreneurs. Ahead of next week’s GCV Symposium in London, I wanted to catch up with Bernardita Araya, manager of CMPC Ventures, the corporate VC unit of Chilean pulp and paper company CMPC, who will be speaking at the event about international investment in the region.
Araya talks about how the VC scene has been growing rapidly in recent year, especially in Chile where many new faces are entering the space, as well as how Latin American entrepreneurs, without the same kind of access to grants and other funding as founders in North America or Europe, tend to be incredibly cash efficient. International investors, she says, have been keen to enter the region but mostly with local co-investors.
We also talk about the challenges facing LatAm founders, including the prospects of expanding to other continents, as well as the natural advantages the region has, and about the growing willingness of it’s corporates to innovate and adapt, and much more.
The post Why invest in LatAm appeared first on CVC Unplugged.
Human decision-making – even when a lot of money is at stake, is not always rational.
A lot of the time it’s based on intangible factors that influence people in ways that can’t be explained or justified by data or analysis – this is after all, the entire basis for the field of behavioural economics, and it’s not new information. So why, in an industry like venture capital, are people still led oftentimes more by their gut than their head? The answer, of course, is human nature. But in an industry that looks for outliers, that tries to go against the grain, why is it not more of a priority to minimise the amount of returns left on the table by counteracting well-known flaws in our thinking?
My guest today is Sharon Vosmek, CEO and managing partner of VC firm Astia, which has, at the core of its thesis, diversity. Not just diversity for its own sake, though Vosmek argues that that would be good enough – but rather as a tangible, strategic way to cast the net as widely as possible, and to eliminate the biases that ultimately end up hurting your return profile.
Astia recently released a white paper on what it calls the Sift – its method of sourcing and screening companies for investment, in a way that tries to filter out the pitfalls that people fall into because of their biases or hunches. Things like not starting the process with introductions, but rather an in-depth assessment of the business before face-to-face meetings, or drawing on the experience of a large diverse group of external advisors to assess each company – thereby also spreading the biases across a wider set of experiences.
At a time when diversity and inclusion initiatives are coming under attack, Vosmek defends this not as some gimmick, but as a way to demonstrably bring in more money – indeed, Astia’s data has shown a far lower failure rate for startups that have made it through the Sift, than the average, and a higher rate not just of survival, but of successful exits, than failures.
We also talk about the biases that still exist and how they may manifest themselves, the potential impact that the perception of being an “inclusive” fund may have on fundraising, and the wider impact of a current climate that is hostile to inclusion initiatives.
But first, I speak to GCV’s Kim Moore about how investors can take advantage of innovation in universities.
The post Getting rid of bias in the investment process appeared first on CVC Unplugged.
In recent months we’ve seen quite a few corporate VC units either shut down, or get spun off, as their corporate parents grapple with how to deal with a tough macroeconomic environment. That’s not always the case though – we’re also seeing a number of other CVCs get launched, and some existing CVCs launch big new funds.
My guest today is in the latter category – I speak to Ingo Ramesohl, managing director at Robert Bosch Venture Capital, the CVC arm of German engineering and technology company Bosch, which is known as Bosch Ventures for short.
We talk about the brand new €250m sixth fund that the unit just launched, and their plans for it, as well as more broadly, why it is so important for companies to push ahead with innovation even when the going gets tough – and why those that stay the course can benefit from a competitive advantage in the market.
We also talk a lot about Open Bosch, which is Bosch Venture’s in-house venture clienting arm – we touch on how they select companies and allocate resources, why its important to be one of a startup’s early customers in order to be part of the innovation, and what areas the unit is looking at – such as data centres and healthcare – to help position it’s parent company for the massive industrial disruptions on the horizon.
The post Economic ruts are a good time to double down appeared first on CVC Unplugged.
Space has historically been the domain of governments – as that has changed and it’s becoming a more private sector-based commercial endeavour, something else has been changing too, and that is that whereas before space was a matter of launching things up where they will do something for a while, then they come back down. What’s emerging now is the prospect of an entire economy in space, for space – where things don’t always need to come back down to earth for maintenance, or refuelling, for example, and can continue to operate outside earth.
My guest today is Timur Davis, director at Munich Re Ventures, where much of his focus is trained beyond the atmosphere, in startups who want to operate in orbit.
We talk about how the unit’s thesis of investing in the picks and shovels of space – the enabling technologies that allow for the space economy to operate effectively – things like traffic management and servicing in orbit. We also talk about the changing business models – how the pendulum has swung back to startups searching for government-based revenues for their stability – as well why mid-stage space startups have trouble getting funded, the development of in-space regulations and norms, how much of space is wide open in terms of the competitive landscape, and much more.
The post Investing in the in-space economy appeared first on CVC Unplugged.
Demand on the power grid is not getting any lower, in fact it’s growing faster than ever, and putting real pressure on the existing infrastructure. As more energy-hungry customers like data centres are coming online, better solutions need to be found to get more capacity through the system.
My guest today is Pradeep Tagare, head of investment at National Grid Partners, the US-based VC arm of National Grid, which is a grid operator active in the UK and the US.
We talk about the challenges facing grid operators at a time when the growth in demand for power is unprecedented, not least because of the phenomenal growth in data centres in the age of AI. We touch on how people are thinking about providing to these large demand customers like data centres, and what solutions exist to increase grid capacity even without a wholescale upgrade of the grid infrastructure itself.
We also talk about the progress being made in the area of distributed energy resources, and how the challenge of interoperability of those diverse energy sources is largely solved, and how AI can be used from anything from finding out where best to place data centres, to figuring out how to best reduce the problem of vegetation overgrowth which can bring networks down, and more.
But first, I speak to Kim Moore about the growth of the space startup ecosystem in Europe.
The post Dealing with an unprecedented demand for power appeared first on CVC Unplugged.
The world is becoming, if not a more dangerous place, then perhaps a testier one. Over the past decade or so, we’ve seen an intensifying staccato of cyber attacks against critical infrastructure and other large facilities, which can, of course, bring with it huge financial and operational problems.
It is increasingly not just a problem for individual companies, but for nations as a whole. Private companies may own energy assets, for example, but an attack that disrupts that energy supply is a national security issue.
What we have seen in response to this is a strengthened focus on cybersecurity that focuses on operational technology – the physical realm – not just the digital IT side of the ledger.
More and more investors are looking to back startups that protect not just data and digital systems, but physical systems that people depend on for their daily lives.
Joining me today is Stephen Hurford, who sits in the host seat to ask me about it for a change.
The post Protecting critical infrastructure is big business appeared first on CVC Unplugged.
My guest today is Talia Abramowitz, managing partner of Deloitte Ventures, a unit which has made the vast majority of its direct investments in Canadian startups and is well-placed to speak to the feelings within ecosystem. We talk about how startups and investors are thinking of navigating the current uncertainty, and how far along Canada has come in terms of its CVC activity. The unit has also just recently passed its three-year anniversary since founding, so we talk about the challenges of standing up a new CVC, as well as the evolving business of AI, and much more.
The post Canada’s startups navigate the new normal appeared first on CVC Unplugged.
It is commonly thought that if you’re dealing with deeptech, that means you’re dealing with long horizons and long timelines to make your money back after an investment, but that is not necessarily the case, according to my guest today.
I speak with Julien Fredonie, who heads up investments in Europe and Africa for Honda Xcelerator Ventures, the corporate VC arm of Japanese auto manufacturer Honda.
The unit looks at deeptech and hardtech across a number of areas including decarbonisation, mobility, robotics and manufacturing, and I wanted to talk to Julien about how he sees CVCs coming along in terms of their ability to help those startups scale up. We talk about how much better suited corporate investors are today to back hard tech companies, relative to one or two decades ago. We also touch on the advantages of investing in the European and African markets, how a new generation of more tech-savvy investors is emerging, the importance of having a founder-focused investment approach, bridging the deeptech funding gap, and more.
But first, I speak to GCV’s Oishani Mitra about how India – one of the largest military forces in the world – is working hard to build its own defence tech ecosystem.
The post How CVCs can help hard-tech startups appeared first on CVC Unplugged.
Innovation has long been one of the primary forces shaping power around the world. If your society is innovating, it will be more prosperous, more influential, and more consequential.
In today’s world, we’re seeing some shifts in global power dynamics between democracies and less democratic nations. We’re also seeing traditionally democratic governments on the backslide, losing faith and confidence in the systems that have kept them doing so well for so long.
My guest today is James Mawson, founder and CEO of GCV, who I wanted to talk to about the role that innovation has to play on the grand scale - how open societies are more conducive to innovation, and how innovation can help keep them ahead of their rivals.
The post How innovation can keep democracies ahead appeared first on CVC Unplugged.
Since the end of last year/beginning of this year there’s been quite a bit of optimism that investors will once again be able to count on the public markets for exits – with 2025 being highly anticipated as the year where listings will be back on the menu. But that is now more uncertain – or at least the timing of it is – what with the amount of uncertainty that’s been injected into the market, for the most part by policy decisions in the US.
I speak to GCV's editor-in-chief, Maija Palmer, about the hopes for public markets.
The post Everyone is waiting for IPOs, but will market uncertainty delay them? appeared first on CVC Unplugged.
If we rewind to 2021, as we were starting to come out of the covid pandemic, there is nowhere you could look without seeing a flurry of investment rounds, many of them very, very big, backing Web3 and crypto startups. Everyone and their dog was looking to get a piece of the action.
Eventually, of course, it cooled off but it’s been making a big comeback in recent months, especially since the US elections late last year. What we are now starting to see, which we didn’t see even back when valuations were massive and everyone was looking for a crypto startup to sink their money into, is the spectre of exits.
Today I speak to GCV’s special features editor, Rob Lavine, about the growing tide of M&As we’re likely to see in the space, what kind of investors are looking to jump in, if we’re expecting the return of megarounds, and why gaming and entertainment is likely to be a huge frontier bringing in people who might not otherwise have been exposed to Web3.
The post The coming Web3 acquisition wave appeared first on CVC Unplugged.
My guest today is Greg Zavorotniy, who was managing director at what was then called BayWa Energy Ventures, and is now partner at rEnergy Partners. We talk about the advantages of being able to invest from outside the corporate architecture, the unit’s plans to raise a fund north of $200m to invest in cleantech startups, and their plans to bring in multiple LPs.
The post rEnergy Partners: Charting a new course as a spun-out cleantech investor appeared first on CVC Unplugged.
Pilot projects between corporates and startups are a dime a dozen, just about any large corporate can do one. The problem, according to my guest today, is after the pilot – why is it that so many startups’ solutions don’t end up scaling within a corporate post-pilot, and what can be done about it?
The post Cencosud Ventures: Venture clienting should involve skin in the game appeared first on CVC Unplugged.
Investing in automotive is not what it used to be – it has gone far beyond just what makes the car itself better, but of course to the entire ecosystem and experience around them.
The post BMW i Ventures: Carmakers must innovate to navigate rapid technology shift appeared first on CVC Unplugged.
If you happen to be a human being, chances are you need to eat in order to survive. Agriculture is as crucial an industry to the maintenance of modern society as any other – and with a growing population and threats from climate change, finding new ways to produce more food is more important than ever. So why is it that investment into innovative agricultural technology has been so weak in recent years relative to other sectors?
The post Leaps by Bayer: Agtech investors look for zebras, not unicorns. appeared first on CVC Unplugged.
Investing in fintech is hard wherever you are, but what if where you are is known for its economic and political turbulence? My guest today is Sebastian Spena, the managing director of Galicia Ventures, the corporate VC unit of Argentinian financial services company Grupo Galicia.
The post Argentina’s turbulent economy is a forge for fintech founders appeared first on CVC Unplugged.
The past year has been a big one for fintech startups. The high interest rate environment we’ve been under is slowly easing, along with the uncertainties stemming from having to wait for the outcome of the election in the US. The huge amounts of capital that have been parked on the sidelines are now looking to be deployed, and momentum is returning to the fintech space.
The post Looking ahead at fintech’s comeback appeared first on CVC Unplugged.
For every dollar that is invested in semiconductors, around $3 of economic activity is thought to be generated downstream – and in this case, downstream means absolutely anything technology-related. Just about piece of tech equipment you can buy today will rely in some way on a semi-conductor.
The post We are in another iPhone Cambrian explosion for the chips industry appeared first on CVC Unplugged.
Latin America has always been fertile ground for fintech innovation and growth. Combining a young, tech-savvy population and a relative under-penetration of financial services you may see in other developed markets, there is plenty of opportunity for startups to feast on.
The post Torq hopes to replicate Brazil’s fintech success across LatAm appeared first on CVC Unplugged.
Nightlife has changed in recent years. It’s not just the macro-effects of the pandemic – with higher costs of living and young people having less disposable income – but their preferences are also evolving.
The post Best Nights VC wants people to meet in real life again appeared first on CVC Unplugged.
We’ve got a bit of a different episode again this week – Fernando sits down with GCV’s editor-in-chief Maija Palmer, who asks him some questions about a recent report he wrote for GCV’s Global Energy Council on the topic of getting first-of-a-kind cleantech technologies and projects of the ground.
The post How to get first-of-a-kind cleantech projects off the ground appeared first on CVC Unplugged.
At the beginning of the year, I spoke to Bill Taranto, president of the MSD Global Health Innovation Fund about what he expected over the course of the year in the healthcare space. He had predicted that M&As would make a moderate comeback and more liquidity would be coming into the market from private equity firms, and that we would see a wave of consolidations taking shape as smaller “point solutions” get integrated into larger platforms.
The post M&A and liquidity making a slower comeback in healthcare, but CVCs are stepping up to the plate appeared first on CVC Unplugged.
The past year has not been the most active for the Brazilian CVC market. High interest rates, lack of sufficient liquidity, and decreased dealflow, among other things, have all slowed it down relative to past years. But that is not true across the board. Some funds, like, L4 Venture Builder – the single-LP fund backed by Brazil’s main stock exchange, B3 – have been investing a lot since it officially launched early in 2023.
The post While others are cautious in a slower Brazilian market, L4 wants to be greedy appeared first on CVC Unplugged.
To fix things in the human body, you have to see them. This is what Olympus does. The legendary Japanese camera-maker, which in recent years divested its camera business and went full-tilt into medical devices, retains its core strength of optics and doubling down in its application to medicine.
The post How Olympus Innovation Ventures is looking into the human body appeared first on CVC Unplugged.
With Lotte Group’s expansion into biotech, it wanted its CVC, Lotte Ventures, to set up a new office in the world’s largest biotech innovation ecosystem, the US, with a new – 3-person team in the Bay Area. But going into a new market is never a walk in the park.
The post Opening a new CVC office in the US is not easy – here’s how Lotte Ventures is doing it appeared first on CVC Unplugged.
The group of smaller and medium-sized investors has been growing, and their value has never been clearer to founders and co-investors. They tend not to seek M&As, neutralising a concern that some startups have about having corporates on their cap table, while still bringing the advantage of corporate connections. They often place an even heavier emphasis on the health of the investment syndicate, as they may be in a worse position than larger funds if things fall through, and they often opt, for example, for observer seats over board seats. All in all, they are team players who can still open very important doors.
The post The US healthcare system has a huge resource shortage. Here’s how small and medium-sized investors can help plug the gap. appeared first on CVC Unplugged.
If you have a pet, you will no doubt have come across one of Mars Petcare’s brands – Pedigree, Whiskas, Iams, Royal Canin, and many others – it is the biggest company in a global petcare market which, depending on what figures you look at, stood at around $250bn last year and is en-route to nearly half a trillion over the next decade.
The post Petcare will be a half-trillion-dollar market in the next decade, and its not just treats and toys appeared first on CVC Unplugged.
Today I’m talking to my colleague Angela Logan, news and production editor at GCV. Angela recently had a very interesting interview with Nichola Bates, head of global accelerators and innovation programmes at Boeing (which you can read here) in which Bates spoke about what it’s been like to be a woman in the corporate VC industry, how in the past there were times when she wasn’t taken seriously, or been undervalued – an experience that many, many women can relate to in the professional context – and how she’s trying to run the unit she leads differently, and hopefully in a way that also disrupts the wider corporate culture.
The post Radical change is needed to fix CVC’s gender problem. Here are some ideas. appeared first on CVC Unplugged.
My guest today is Alejandro Solé, chief investment officer of TechEnergy Ventures, the CVC unit for the energy transition division of Tecpetrol, an energy company that is part of Italian-Argentine industrial conglomerate Techint group, which has under its umbrella companies in areas like steelmaking, engineering and construction, and energy.
The post Investing in the hard assets of cleantech – a conversation with TechEnergy Ventures’ Alejandro Solé appeared first on CVC Unplugged.
Investment is no longer the exclusive domain of investors. Increasingly sophisticated tools are coming on the market that are giving everyone access to investment capabilities that used to be confined to institutions and financial professionals. My guest today is Alokik Advani, managing partner of Fidelity International Strategic Ventures – or FISV – the CVC unit of asset manager Fidelity International.
The post Making investing for everyone – a conversation with FISV’s Alokik Advani appeared first on CVC Unplugged.
My guest today is Murat Arcan, managing director of Sabanci Climate Ventures, the CVC unit of Sabanci Climate Technologies, the international energy arm of one of Turkey’s largest conglomerates.
The post Sabanci wants to invest $200m into renewables technology appeared first on CVC Unplugged.
As companies are increasingly looking for faster innovation cycles and increased collaboration with startups, but don’t always want the risk associated with direct investment, venture clienting has grown massively in popularity in recent years.
The post Venture clienting as an entry point for more risk-averse corporates appeared first on CVC Unplugged.
Paradoxical though it may seem that an industry as extractive in nature as mining would be so important to making the world more sustainable, that’s exactly the case. Partly that’s because of the need to reduce its own impact – bringing down its emissions and reducing its waste – but also because most other energy transition technologies rely on metals that need to be mined.
The post Can mining be at the forefront of the energy transition? A conversation with Vale Ventures’ Bruno Arcadier appeared first on CVC Unplugged.
Historically, Latin American corporates, have been risk averse, wanting control, often family-owned, and that has been a barrier to innovation, but that is changing now, and they are more open to doing things in a new way, if for no other reason that it’s imperative to not being out-competed.
The post LatAm is hungrier for venture service providers – a conversation with Innova 360’s Laura Chicurel appeared first on CVC Unplugged.
The “typical” accelerator model as we know it – a cohort of young startups that go through some sort of curriculum and hopefully convince investors to back them at the end of it – sometimes offers mixed results. Founders may well find that the conversation they have at the end is an investor telling them to call them back when they have more revenue.
The post Should accelerators chase revenue instead of investment? appeared first on CVC Unplugged.
The US healthcare market is a big, complicated one. It’s fragmented, it’s large, with long sales and feedback cycles, making it difficult to innovate and bring about change at scale, especially that which the venture model would be patient enough for.
The post Innovating in an intractable healthcare system appeared first on CVC Unplugged.
Last September, I had the pleasure on this show of speaking to Mike Smeed, managing director of InMotion Ventures, the VC unit of Jaguar Land Rover, when he had just recently completed his first year on the job, which was also his first year as a CVC at all. Now, I’m happy to have him back on to talk about what he has learned, and how the team has applied those lessons, in Year 2.
The post A year of learning at InMotion Ventures – Mike Smeed returns appeared first on CVC Unplugged.
Payments, payments, payments. In a world with a diminishing reliance on cash, payment technology is quite literally making the economy go round. But obviously, it's not always as easy as tapping a credit card. Today I speak to David Rolf, head of Visa Ventures, about the difficulties, and the opportunities out there, when it comes to letting people pay each other as quickly and easily as possible.
The post The future of payments – a chat with Visa’s David Rolf appeared first on CVC Unplugged.
The world of sports has been seeing some really dramatic shifts in recent years, including huge changes in how sports are consumed – less via the big networks and more via mobile platforms, for example – and that’s having big implications across the space, opening up opportunities for startups and investors alike.
The post The Next Wave Webinar: Investing in the changing world of sports appeared first on CVC Unplugged.
Universities, by their very nature, have always been strong centres of innovation. Scientific discoveries are routinely made in university research labs – but spinning those discoveries out into an operational business comes with numerous hurdles. Academics who go on to found companies based on their research have not just a steep learning curve to adapt to the new commercial environment, but also a wider shift in their mindset. The lab, after all, is a much different place than the market.
The post The transition from academic to entrepreneur appeared first on CVC Unplugged.
Just because you can grow very quickly, doesn’t necessarily mean you should. That’s the argument that Rob Bier, managing partner of Trellis Partners and 6:30 Partners, makes against the concept of “blitzscaling”, the hypergrowth philosophy popularised by Reid Hoffman. In his new book, called Smooth Scaling, as well as in a recent op-ed for Global Corporate Venturing, Bier argues that growing at all costs may work for a few startups, but for the majority, following the move fast and break things with loads of money in your pocket approach can have deeply detrimental effects.
The post Slower and steadier wins the race – Rob Bier’s case against blitzscaling appeared first on CVC Unplugged.
Financial services permeate every other industry, and is a crucial part of everyone’s lives – whether you’re talking about payments, wealth management, or anything else, fintech touches it all. Today I’m joined by Hugo Bongers, partner at Motive Ventures, who by his own admission “lives and breathes” fintech. Formerly the head of ABN Amro Ventures, he has a great overview of the space from both the corporate VC and financial VC sides.
The post Let’s give everyone more control over their finances – A conversation with Hugo Bongers appeared first on CVC Unplugged.
Fred Schonenberg is the founder of VentureFuel, a New York-based advisory firm focused on bringing together startups and large organisations, mainly corporates including the likes of Coca-Cola, ABInBev, The Hershey Company, Comcast and more, to efficiently create commercial partnerships between them.
The post How to get startups and corporates to fit together – a conversation with VentureFuel’s Fred Schonenberg appeared first on CVC Unplugged.
One of the biggest hurdles to getting technology from universities out into the market has been that of intellectual property – who does this technology belong to and who can benefit from it? Traditionally, many universities have been loath to part with their IP rights, which is a death knell for any investment a potential spinout may be hoping for. Investors want to know that the company they’re investing in owns the very thing that gives it value.
The post Universities take a more investor-friendly approach to IP appeared first on CVC Unplugged.
Jeppe Hoier is a long-time venture investor with experience in financial VCs, corporate VCs and on his own as an angel investor, based in Copenhagen, Denmark. A former partner at Maersk Growth, the CVC arm of Danish logistics giant Maersk, Hoier talks about how he was initially sceptical of going into a corporate VC, having been initially dissuaded by the reputation that CVCs had at the time, but how he has since been convinced of the benefits a corporate can bring.
The post A CVC is like an organ transplant, the body would be wrong to fight it – A conversation with Jeppe Hoier appeared first on CVC Unplugged.
We’re going back into the vault this week! They say that the only constant in life, and business, is change – so how do you manage it effectively? That’s why last year I spoke with Jonny Crowe, a lawyer by training whose long career has been tied together by one central theme: executing and managing transformation. This is something he’s done both as a member of the C-Suite within the structure of an organisation, or in an advisory capacity, for many companies including Cinch, BCA Marketplace, Naspers and Axel Springer, to name just a few.
The post How to effectively manage change and transformation (re-broadcast) appeared first on CVC Unplugged.
For a while now, there has been a clear trend, for example, of hospital functions like patient monitoring, diagnostics, and other treatments being moved closer to the patients, even into their homes, which frees up space within hospitals, which of course, even before covid, have been dealing with huge capacity constraints. Many hospitals are operating at capacities in the high 90s and have a lot of trouble finding enough beds, enough appointments, or enough staff, for a number of reasons, but a big one is the fact that the processes within hospitals need to be overhauled and streamlined for higher efficiency.
The post The Next Wave Webinar: What does the hospital of the future look like? appeared first on CVC Unplugged.
The way we buy things has been changing. Supercharged by the pandemic, the digital and physical sides of the retail experience continue to merge, data analytics continues to play an increasingly large role in how companies target and sell their products, and the consumer journey is, hopefully, getting easier and easier.
The post Why Cencosud Ventures loves contrarian thinking appeared first on CVC Unplugged.
Today I speak with two people who know a lot about getting stuff from A to B– Rose Chen, head of innovation investments and partnerships at supply chain and distribution company Wesco, and Hector Shibata, who has for over half a decade led AC Ventures, the CVC unit of coca cola bottler Arca Continental.
The post Investing in a strong supply chain appeared first on CVC Unplugged.
With valuations down from where they were a couple of years ago, the exit horizons that investors had in mind when they made their original investment ended up being further away than they thought. The IPOs are still scarce, and M&As are still too few and far between, but investors still want exits.
The post A booming market for secondaries appeared first on CVC Unplugged.
There are very few corporates out there that have two CVC funds, Toyota is one of them. Not only does it have an early-stage fund in Toyota Ventures, but also a growth stage unit in Woven Capital – which was previously investing on behalf of , as its name suggests, Woven by Toyota, the automaker’s next-generation mobility business, but has more recently expanded its scope to being the growth investment arm for Toyota as a whole.
The post From automobiles to mobility – how Woven Capital is helping Toyota evolve appeared first on CVC Unplugged.
For years now, people – myself included – have been waiting for the advent, in earnest, of plant-based meats. Everyone loves a barbeque, but not the meat industry’s effect on the environment, our health, or the treatment of animals themselves. Alternatives have been coming to the shelf for years now, but the same problems persist – the taste is not quite the same as real meat, and the price is far too high to really compete.
The post We should temper our expectations for alternate meat, says Grey Silo Ventures appeared first on CVC Unplugged.
The story of the past year or so has been artificial intelligence and, in particular, generative artificial intelligence, or gen AI. Doesn’t matter what sector you’re in, or what countries you look at, everyone is trying to apply gen AI to their business, and investors are seeing a gold mine.
The post Corporates underpin over half of all Gen AI investment appeared first on CVC Unplugged.
Sopra Steria Ventures, the CVC unit of French IT giant Sopra Steria, has been around for half a decade. After a few years, however, the investment programme was not really yielding any tangible results. The structure was not quite there, the strategy was not quite aligned with the corporate leadership wanted, and the focus was too skewed towards M&A rather than venture itself. A change was needed.
The post A portrait of Sopra Steria’s CVC rebuild appeared first on CVC Unplugged.
Today’s show is a bit different – instead of a normal conversation, we’re bringing you GCV’s most recent edition of the Next Wave – our monthly webinar series that features panel discussions on emerging technologies and CVC best practices.
The post The Next Wave Webinar: Venture building – how to avoid the common failures appeared first on CVC Unplugged.
Despite their products being so ubiquitous anywhere you live in the world, and an integral part of so much of what we eat, the B2B egg, dairy and food sectors are among the least digitised out there. What this has opened up is a lot of space for startups to make a big impact. Schreiber Foods is one of the largest dairy products producers in the world, supplying stores, restaurants and other food providers all over the world. Almost exactly a year ago, The Wisconsin-based food giant launched its corporate venture capital fund, focusing primarily on next generation supply chain and sustainability.
The post Blair Tritt: Schreiber Foods appeared first on CVC Unplugged.
One of the most exciting up and coming venture ecosystems in Latin America is that of Chile. In an already innovative and fast growing business environment, corporate VCs are sprouting up left and right across the country, and funds are increasing in size. One such CVC, which announced the launch of its $100m fund late last year, is CMPC, the pulp and paper company that is one of the largest companies in the country, which will use its venturing arm to tackle problems related to sustainability, single-use plastic reduction, novel construction and packaging materials and more.
The post Bernardita Araya: CMPC Ventures appeared first on CVC Unplugged.
Kerry Carter is an entrepreneur, executive and investor in the area of sports technology, who also happens to be a former professional athlete, having played in the National Football League and the Canadian Football League before making a jump to the world of business and currently sits as chief operating officer of Atavus, a sportstech company focused on the mechanics of tackling.
The post Kerry Carter appeared first on CVC Unplugged.
Most people think that the Covid-19 pandemic has a supercharging effect on digital health – while that’s certainly true of things like telehealth services, is it necessarily the case for the rest of the sector? Maybe not, according to today’s guest – but independent of Covid, digital health is a booming area. Joining me today is Bill Taranto, President of MSD Global Health Innovation Fund – as it’s known outside North America – to talk about his outlook on the healthcare space – particularly in digital health – in the coming year and the shifts in the venture market.
The post Bill Taranto: MSD Global Health Innovation Fund appeared first on CVC Unplugged.
The story of the past year or so, of course, has been an explosion in demand for all things artificial intelligence. Every company in the world is thinking about how their business, processes, or products can be improved with the addition of AI across all levels, and all are looking for applications relevant to them.
The post Jung Lee & T.A. McCann: Pioneer Square Labs appeared first on CVC Unplugged.
This is a podcast that focuses primarily on the world of corporate venture capital, but as we look at corporate innovation more widely, is CVC the best tool available to bring innovation into a larger organisation? According to this week’s guest, Alex Mahr, co-founder and managing partner of venture-building firm Stryber, the answer is no, or at least not necessarily. Having worked in corporate innovation for many years in a number of capacities including consultant, corporate VC, and now venture building, he sees corporate VC as perhaps a suboptimal tool to rely on, at least in isolation.
The post Alex Mahr: Stryber appeared first on CVC Unplugged.
If you’re a company in the industrial sector, you’re going to have a lot of waste. Industrial processes are massively resource-intensive, whether it’s water or other raw materials, and what you get out the other side is not just the finished product itself, but literally tons of waste byproduct that needs somewhere to go. What is becoming increasingly clear is that in and around that waste, is a lot of money. Anyone who comes up with technology that can effectively help large industrials reduce the amount of waste they produce, maximise the yield they can get from their inputs, and extract useful things from their waste, will find financial reward.
The post Ginger Rothrock & Meghan Hunt: HG Ventures appeared first on CVC Unplugged.
Many CVCs, because of their parents’ core business, tend to have, for lack of a better term, high-minded or particularly noble missions – whether that’s saving the planet from climate change, or humanity from disease, or anything else that may in some way contribute to the saving of the world – but then you have some investor who just want you to have a grand old time with the people you care about. That’s what Convivialité Ventures, the CVC unit of Pernod Ricard, aims to do.
The post Stéphane Longuet: Convivialité Ventures appeared first on CVC Unplugged.
Innovation is moving fast across most sectors, but in healthcare we are really seeing how tantalisingly close we are to solving some of our most enduring health problems, and we’re advancing at a fast clip. We talk about the leaps and bounds that we’ve come over the past decade in treating and finding cures for notorious ailments, how patient selection is an often overlooked but crucial part of the drug discovery process, and why we should be optimistic about our ongoing combat against disease.
The post Hakan Goker & Owen Lozman: M Ventures appeared first on CVC Unplugged.
The construction sector continues to face a number of massive challenges – skill and labour shortages, lack of standardisation, regulatory hurdles, and a massive carbon footprint, to name just a few. Zacua Ventures, the construction-tech focused VC firm launched last year by three alumni of construction CVC units, aims to alleviate them.
The post Juan Niet: Zacua Ventures appeared first on CVC Unplugged.
For Crispin Leick, managing director of EnBW New Ventures, a passion for energy technology came early in life, and was supercharged later on when he became a father and saw his time horizons change from years to generations ahead. As head of energy generation and utility company EnBW’s corporate venturing unit, Leick and his team focus on three main areas where they can have the biggest impact, namely the electrification, digitalisation, and decentralisation of the energy system.
The post Crispin Leick: EnBW New Ventures appeared first on CVC Unplugged.
Today’s show is a bit different – instead of a normal conversation, we’re bringing you GCV’s most recent edition of the Next Wave – our monthly webinar series that features panel discussions on emerging technologies and CVC best practices.
The post The Next Wave: Functional foods – Investors are hungry for more appeared first on CVC Unplugged.
What precisely is the role of a third-party CVC fund managers in the venture ecosystems of emerging economies? According to Richard Zeiger, general partner at Brazil’s MSW Capital, it’s an important role to educate and set the standard.
The post Richard Zeiger: MSW Capital appeared first on CVC Unplugged.
We have plenty of knowledge hidden all over the place, with potential for transformational change on important problems, but without the ability to commercialise and spread it out, we don’t get to benefit from it. My guest today is Owen Thompson, co-founder and CEO of Cambridge Future Tech, a deep tech venture builder situated – as its name suggests – in one of the most bustling technology and ideas hubs in the world.
The post Owen Thompson: Cambridge Future Tech appeared first on CVC Unplugged.
IPOs are back! With the recent listings of companies like chip manufacturer ARM and delivery app Instacart, we are seeing the resurgence of the public markets after around two years of being dormant.
The post Are IPOs back? appeared first on CVC Unplugged.
Cars have been on their way to essentially becoming rolling computers for quite some time now. They are better connected, increasingly electrified, and packed with features to make the driver’s life easier. Mike Smeed, managing director of Jaguar LandRover’s (JLR) venturing unit, InMotion Ventures, has been in the CVC business for only one year, but given that automotive OEMs are already designing the cars of 2030 and beyond, his outlook needs to be in decades.
The post Mike Smeed: InMotion Ventures appeared first on CVC Unplugged.
My guest today is Cassio Spina, founder and lead partner of a new advisory and venture management firm Alya Ventures, which launched earlier this year.
The post Cassio Spina: Alya Ventures appeared first on CVC Unplugged.
My guest today is Michelle Gonzalez, the global head of Microsoft’s corporate venturing unit, M12. She joined me to talk about the strategic shift that M12 has been executing since the beginning of this year to align the unit’s investments closer with Microsoft, as well as the ever-growing prospects of generative AI, the resilience of other verticals like cybersecurity and the enduring appeal of blockchain infrastructure technology despite a crypto-winter.
The post Michelle Gonzalez: M12 appeared first on CVC Unplugged.
My guest today is Arthur Alves, corporate venture capital manager of Gerdau Next Ventures, the CVC arm of Brazilian steel manufacturer Gerdau. The venture fund was established in 2020 under in partnership with American CVC-as-a-Service firm Touchdown Ventures, and Alves was hired last year to fully integrate Gerdau Next Ventures into its parent company.
The post Arthur Alves: Gerdau Next Ventures appeared first on CVC Unplugged.
Increasingly, buildings are more than just bricks and mortar. Today they’re smarter, they’re more capable, they’re greener, and they’re continually improving. Few companies are doing more work in this space than Johnson Controls, and today I’m speaking with Youssef Mawad, managing director Johnson Controls’ CVC unit, JCI Ventures.
The post Youssef Mawad: JCI Ventures appeared first on CVC Unplugged.
My guest today is Jonny Crowe, a lawyer by training whose long career has been tied together by one central theme: executing and managing transformation. This is something he’s done both as a member of the C-Suite within the structure of an organisation, or in an advisory capacity, for many companies including Cinch, BCA Marketplace, Naspers and Axel Springer, to name just a few.
The post Jonny Crowe: Liminal Ventures appeared first on CVC Unplugged.
Money, as they say, makes the world go round, and investments in financial services grew forty-fold in the decade between 2011 and 2021, from around $6bn to nearly $240bn. That is a huge leap, but according to today’s guest, Arvind Purushotham, head of Citi Ventures, it is only the beginning.
The post Arvind Purushotham: Citi Ventures appeared first on CVC Unplugged.
Every successful business needs a strategy, and every business will need to innovate to survive. Strategy, of course, sets out long-term direction and intentionality, while innovation, by definition deals with new things, which naturally can be disruptive. So how do you moderate the two? Which of them informs the other more, and how?
The post Debbie Brackeen: CSAA Insurance appeared first on CVC Unplugged.
My guest today is Miles Kirby, CEO of Deeptech Labs, the Cambridge-based accelerator and investor focused, as its name suggests, on deep tech – which is of course an umbrella term encompassing a broad set of new technologies such as artificial intelligence, quantum, advanced materials, other advanced compute, and just about any technology that has not quite been commodified yet and still has substantial engineering or scientific challenges to overcome.
The post Miles Kirby: Deeptech Labs appeared first on CVC Unplugged.
Setting up a corporate venture capital unit comes with a lot of hurdles. You have to deal with a wide range of stakeholders, and you have to find a place to fit within the wider corporate structure, much of which is not necessarily well-versed in the value that a venturing unit can bring. You also have to navigate different – and at times, competing – motivations across various business units and the C-suite, all the while having to justify your existence and provide results.
Mario Augusto Maia, who now managing partner at advisory firm Cogent Venture Partners, talks about his experience transitioning from financial asset management to heading up a CVC unit in the bio-space and how the challenges therein are commonly found across the industry. We talk about the challenges of managing a legacy portfolio when setting up a unit – especially when you may need to regain the trust of those startups – as well as the need to educate parent companies about the value of CVC, how to navigate an environment where you may have to reposition the unit during restructures, and much more.
Mario brings a unique perspective to how to form a CVC from the ground and leaves you with much food for thought.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Mario Augusto Maia: Cogent Venture Partners appeared first on Global Venturing Review.
The scale and speed with which the venture market has changed over the past year has caused some whiplash for startups and investors alike. All of a sudden, we find ourselves in an environment with higher inflation, higher interest rates, and much more difficulty being able to raise money, be it equity or debt. While the current venture market does represent a drop from the heady heights of two years ago, in some ways it also marks a return to normal, albeit in a tougher macroeconomic environment.
My guest today, Jeffrey Grabow is the US venture capital leader at EY, a position from which he has a great vantage point to talk about the problems facing the venture ecosystem today. This includes the difficulties in raising capital, and how much higher the bar is for startups to get equity on board – as well as the more recent complications stemming from the banking sector. He also about how this is a great time for startups to distinguish themselves from the pack, and gives advice on how both entrepreneurs and investors can best weather the storm.
Don’t forget to like, share and subscribe to GVR on your podcast platform of choice, and above all, enjoy the show.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Jeffrey Grabow: EY appeared first on Global Venturing Review.
One of the interesting shifts that happened during the covid pandemic was in building things. Larger construction projects slowed down while at home DIY projects took off as people had to spend inside. This is but one of the patterns that Stanley Ventures, the venturing unit of Stanley Black & Decker, had a front-row view to, sitting on the intersection of construction and consumer goods.
Dina Routhier and Michael Mahan, the respective president and managing director of Stanley Ventures, join me on the show to talk about that shift and about how changes in a parent company’s business units – such as Stanley Black & Decker’s divestiture from its security and healthcare business and the launch of its outdoor tools business – can effect portfolio management. We also talk about emerging trends and technologies in the construction sector, what it’s like sitting in both construction and consumer markets, and what venturing units should do to best help them survive when their parent company has difficult decisions to make about its future.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Dina Routhier & Michael Mahan – Stanley Ventures appeared first on Global Venturing Review.
Everyone needs to eat, and as one of the largest private companies in the world, Cargill has played a large role in providing much of what, at least in the US, shows up in supermarkets. But what does the future of food look like? And what innovation is needed to bring agriculture up to speed with the demands of a growing population with shifting views?
Cargill Ventures’ unit chief Erin VanLanduit came on the show to talk about what it’s been like to bring all of Cargill’s venturing activity back under one roof, the unit’s bullishness on alternative proteins, gaining acceptance from consumers for new things, and how agtech goes beyond just food itself.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Erin VanLanduit: Cargill Ventures appeared first on Global Venturing Review.
Every business needs a space, but how will those spaces be valued in the future? Commercial real estate is in the beginning stages of some important changes in the way it looks, operates, shares its space, and even where it is located, much of the changes coming in the aftermath of the pandemic.
Raj Singh, managing director of JLL Spark Global Ventures, talks about how building owners are set to begin using much more data not just to better manage their assets, but that it may well end up bringing in more revenue than the building itself, in the future. He also talks about how sustainability, which is already having a big impact on the built world, will become an even bigger factor, and how the future of hybrid working will impact how the buildings themselves will be used.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Raj Singh: JLL Spark Global Ventures appeared first on Global Venturing Review.
Btomorrow Ventures (BTV), the venturing unit of British American Tobacco, is a CVC unlike the rest, in the sense that While the typical aim of corporate venturing is to complement and innovate on top of its parent company’s business, BTV’s main purpose is to help its tobacco producing parent to move away from its core product and into new categories that will create growth in the future.
Lukasz Garbowski, investment director at BTV, joins the pod to talk about the unit’s unique approach, how it thinks about the new product categories that can leverage BAT’s existing strengths, the challenges involved in convincing health-focused startups that they are a good fit, and the work the unit does not just investing, but introducing non-portfolio startups to BAT through its Labs programme.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Lukasz Garbowski: Btomorrow Ventures appeared first on Global Venturing Review.
What does it mean to grant “unfair” access to a region? That’s what Wind Ventures, the venture capital arm of Chilean energy company Copec, wants to do for its portfolio companies wanting exposure to the Latin American market. With a wide remit that primarily straddles energy and mobility, Wind has been bullish on the energy transition and EV charging, among a number of other focus areas including logistics and retail experience.
Brian Walsh, head of Wind Ventures, came on the Global Venturing Review to talk about, among other things, what it’s like to invest globally on behalf of a Latin American corporate and integrate portfolio companies into the regional market, how Wind’s venture investment side collaborates and balances the venture building side, and where to draw the line between a venture play and an infrastructure play in the context of EV charging.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Brian Walsh: Wind Ventures appeared first on Global Venturing Review.
Spinning a fund out of the corporate parent’s umbrella can be a tricky process. If done right, though, you can end up with a situation where you can enjoy both the benefits of being your own outfit and the advantages of close operational links with a big name corporate. You can have your cake and eat it too. This is where AEI HorizonX, the venture firm spun out of aerospace and defence company Boeing, finds itself.
Brian Schettler, head of HorizonX, joins GVR to talk about the aerospace and defence sectors, how, on top of being beneficial for a host of reasons such as increased capital and compensation, the spin out was also driven by internal crises within Boeing. He detailed the value of maintaining close connections after spinning out, how having external LPs affect the fund and how still having a dedicated implementation team inside Boeing boosts its entire portfolio.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Brian Schettler: HorizonX appeared first on Global Venturing Review.
There has never been a more crucial time to invest in technologies related to defence and security. War in Ukraine and growing geopolitical tensions between the US and China are bringing a new focus to an area that used to be taboo for investors. Global Corporate Venturing editor Maija Palmer talks to Ryan Lewis, partner at SRI Ventures and Tom Park, partner at BDC Deep Tech Fund, about why they are setting up the GCV Defense Council Advisory Board to foster collaboration between corporate investors looking to invest in this area.
Ryan Lewis, Partner- SRI, ryan.lewis@sri.com
Thomas Park, Partner, lead- BDC Deep Tech Fund, Thomas.PARK@bdc.ca
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Investing in defence tech appeared first on Global Venturing Review.
The world is changing, along with the way we look at it and experience it – this includes a merging of the physical world and the virtual one. This “great convergence” forms the basis of the newly unveiled thesis of NGP Capital, the venture firm backed by Nokia.
Paul Asel, co-founder of NGP Capital came on the Global Venturing Review podcast to talk about the lessons learned from the firm’s recently concluded 15-year second fund and the future of the market. He explores how those lessons – which include the importance of balancing financial and strategic objectives, the important of broad engagements, the value of non-linear opportunities and adapting to changing markets – are being applied to their new fifth fund, which operates under the new thesis.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Paul Asel: NGP Capital appeared first on Global Venturing Review.
Air travel is a notoriously hard to decarbonise sector. Next to heavy industry, aviation is the poster child for widespread carbon emissions.
For United Airlines, 98% of company-wide emissions come from jet fuel, presenting a huge, but easily identifiable, problem. The airline’s venturing arm, United Airlines Ventures, has already been investing heavily in sustainable aviation fuel (or SAF for short), and has now launched a new fund focused on exactly that. Currently capitalised to the tune of $100m, the new fund is called the United Airlines Ventures Sustainable Flight Fund, and counts on some corporate heavy hitters, including Air Canada, Boeing, JPMorgan Chase, Honeywell and GE as limited partners.
Andrew Chang, head of United Airlines Ventures, joined the show to talk about the new fund, what it’s like to go from a single LP to multiple LPs, and how SAF can impact the aviation industry.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Andrew Chang: United Airlines Ventures appeared first on Global Venturing Review.
If it hasn’t already been clear for at least the past decade, there is certainly no doubt of it today: data runs the world.
It is embedded into every facet of life, informing us, informing the systems that inform us, informing countless other actors – both public and private – about us. There are gargantuan mountains of data out there waiting to be sorted, analysed and put into action, but how do you best organise all that data – especially if you’re a business – in a way that can make it as useful and impactful as possible? That is what Databricks does, and that’s what its CVC arm, Databricks Ventures, helps startups to do.
On today’s episode I speak to Andrew Ferguson, vice president for corporate development and ventures at Databricks, about how the firm doesn’t lead rounds or take board seats, how AI and machine learning are game-changers in the data game, how portfolio companies integrate with the parent company, how competitive the landscape is in such a hot market, the challenges in assessing how future-proofed companies are in the space, and more.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Andrew Ferguson: Databricks Ventures appeared first on Global Venturing Review.
I’m joined by GCV’s Kaloyan Andonov, an analyst and reporter who also happens to be a resident data guru, and has put together an extensive collection of data points and graphs, which you can find on the Global Venturing website, looking at how the CVC sector fared in 2022.
It looks at questions like how did CVC activity change in relation to wider VC activity? At what stage have they been investing? Have any geographies made big moves? What sectors received the most investment? By looking at the data story for last year, we get a bit of a picture of where we might be headed this year, and what corporate venturers may need out for.
Be sure to like, share and subscribe to GVR, which you can catch on any platform of your choice, and above all, enjoy the show.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Last Year in Data appeared first on Global Venturing Review.
Happy New Year!
For our first episode of 2023, one thing is clear – defence is not a business like any other, for obvious reasons. While defence technology will ideally have dual-use or commercial applications in order to expand addressable markets, the reality is that the biggest end user will be a government. This brings up a host of unique challenges given the sensitivity and potential military use cases that these startups may be working on. Complex procurement processes, capital intensive development cycles, regulatory hurdles and potential security issues are just a few of the challenges that CVCs in the defence sector need to keep on top of.
RTX Ventures, the nearly-one-year-old venturing unit of US-based defence and aerospace company Raytheon Technologies, has built up an eight-strong portfolio since it launched in early 2022, and it is looking to expand on that record during its second year. In today’s episode, unit chief Dan Ateya came on the show to discuss RTX Ventures’ portfolio, its ambitions, how they navigate the unique challenges in the sector and what technologies are going to define the future of national security.
Be sure to like, share and subscribe to GVR on your platform of choice, and above all, enjoy the show.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Dan Ateya: RTX Ventures appeared first on Global Venturing Review.
It is our last episode of GVR for the year!
To close out 2022, we’re bringing you a recording of a conversation on one of the most interesting subjects in corporate venturing: Space.
In the latest episode of GCV’s live webinar series, called The Next Wave, we had an incredible panel of startups and investors in space technology, moderated by yours truly and covering topics such as the new economics of space flight, what CVCs bring to the table for space startups, navigating the murky legal and regulatory framework for space activity, the prospects of new industries getting involved in space. the challenges in convincing investment committees that investing in space is a strong proposition, and more.
The panel was made up of two CVC investors, namely:
- Roee Furman of Doral Energy-Tech Ventures
- Timur Davis of Munich Re Ventures
As well as the CEOs of their respective portfolio companies:
- Jonathan Geifman of Helios – a company looking to mine the moon for oxygen and make the steel industry greener
- Daniel Faber of Orbit Fab – a company looking to establish a network of gas station to service spacecraft beyond the atmosphere
It’s a great conversation and it was my pleasure to host it, and I’m sure you’ll find it very informative as well. You can find the video recording of the panel discussion here.
Be sure to like, share and subscribe to the Global Venturing Review, and be sure to register to upcoming episodes of The Next Wave, and above all, enjoy the show.
Thank you all for listening and supporting the show over the course of 2022 – there will be plenty more to look forward to as we head into the new year. Have a happy holiday season!
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post The Next Wave: Investing Beyond Earth – Spacetech appeared first on Global Venturing Review.
In all likelihood, you will be acutely aware of the energy crisis we are experiencing virtually all over the world. What you may be less aware of, though it’s been quite common in the news, is the pretty substantial increase in earnings that energy companies, particularly oil and gas companies, have been enjoying over the past couple of years.
But to what extent has that increase in profits translated to venture investments? The answer is not as straightforward as you may think.
On this episode I speak with Kaloyan Andonov, an analyst, reporter and general data whiz at GCV, whose recent article looks into how the trendlines in earnings and the trendlines in venture investment are matching up.
Don’t forget to like, share and subscribe to the global venturing review, and above all, enjoy the show.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Oil and Gas Investment appeared first on Global Venturing Review.
What does it mean for a corporate venturing unit to be independent? Is that a structural dimension or a cultural one?
What are the benefits of having more separation from the mothership, and can it so have drawbacks?
GCV senior reporter Kim Moore joins us to discuss these questions and more.
Be sure to like, share and subscribe to GVR, and above all, enjoy the show.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post Should CVCs want more independence? appeared first on Global Venturing Review.
We’ve got a big, ongoing story that’s been causing serious ripples across one of the fastest growing industries of the past few years. FTX, the third-largest cryptocurrency exchange in the world, which also has one of the largest corporate venture capital units in the crypto/Web3 sector, has filed for bankruptcy amid swirling allegations of pretty … Continue reading "The collapse of FTX – where next for crypto?"
The post The collapse of FTX – where next for crypto? appeared first on Global Venturing Review.
On this episode we’ll be listening to the latest in Global Corporate Venturing’s new live webinar series, The Next Wave, which deals with an interesting question which is sure to bring up some strong opinions, and that is, Which is a harder job to do: VC or CVC. In this discussion, GCV’s Senior Editor, Maija … Continue reading "The Next Wave: Which is a harder job to do: VC or CVC?"
The post The Next Wave: Which is a harder job to do: VC or CVC? appeared first on Global Venturing Review.
We’ve got GCV’s very own Kim Moore back with us to talk about the rising antitrust scrutiny in the US market and the implications it has for CVCs when they’re looking to invest, exit their investments or even consider the board seats they take. For CVCs in the US, antitrust isn’t something that can just … Continue reading "Is antitrust a problem for US CVCs?"
The post Is antitrust a problem for US CVCs? appeared first on Global Venturing Review.
Vitor Mascarenhas Santos is the head of EDP Ventures Brasil, the Brazil-based arm of energy utility EDP’s corporate venture capital unit. With its Portuguese parent company already boasting a significant presence in Brazil, Mascarenhas talks about where EDP Ventures Brasil sees the biggest growth potential of the Brazilian energy sector, and how coming regulatory changes, … Continue reading "Vitor Mascarenhas Santos: EDP Ventures Brasil"
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Artur Faria is CEO of Oxygea, a new CVC arm of Brazil-based Braskem, which was just announced last month. Like a growing number of CVCs, Oxygea combines venture investment with venture-building activities (also known as CVB), the latter for which the unit plans to have 10 companies in its accelerator programme at any given time. … Continue reading "Artur Faria: Oxygea"
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Dr. Samuel West is a licensed clinical psychologist and specialist on organisational psychology, who is also the creator and curator of the Museum of Failure, a travelling collection of products that have failed in the conventional sense, but represent something far more important, which is the willingness to fail. Anyone working in corporate innovation, corporate … Continue reading "Dr. Samuel West: Museum of Failure"
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Rodrigo Gruner is director of innovation and new business at Vivo, the Brazilian subsidiary of telecoms company Telefónica, which earlier this year launched its own CVC unit, Vivo Ventures. On this episode of GVR, Gruner speaks about where Vivo Ventures fits within Telefónica’s venturing ecosystem alongside other units like Wayra and Telefónica Ventures, and how … Continue reading "Rodrigo Gruner: Vivo"
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Bill Reichert is partner at Pegasus Tech Ventures, a VC as a service firm that makes venture investments on behalf of corporations. This is a model that has been on an upwards trajectory in recent years, as different corporates find themselves at different stages along their innovation journey and sometimes they need outside help, so … Continue reading "Bill Reichert: Pegasus Tech Ventures"
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We are joined once again by GCV’s very own Kim Moore, who has recently written an article exploring a hugely important topic, food insecurity, a topic which has been aggravated by recent events such as Russia’s invasion of Ukraine, itself building on top of already longer-running themes like climate change and covid-related global supply chain … Continue reading "Can record investment in agtech fix global food insecurity?"
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The economy may be cold but CVC teams are growing and hiring. But what should you look for in candidates? What traits and attributes are best for new hires coming into a CVC? Fernando discusses a recent GCV article on the topic with senior editor Maija Palmer. Read the full article on the Global Venturing … Continue reading "What background should CVC hires have?"
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Gustavo Cavenaghi is the head of investments at Kortex Ventures – a CVC unit jointly backed by no less than three corporate limited partners, namely diagnostics technology providers Fleury and Sabin, as well as health insurance company Bradesco Saude. Being a CVC for a single corporate is hard enough – but what about three of … Continue reading "Gustavo Cavenaghi: Kortex Ventures"
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GCV’s very own Kim Moore joined the podcast to speak about her new feature article on nuclear fusion, exploring the advances that have made it more technologically and commercially viable, how it compares to existing nuclear energy technology, the current landscape of corporate investment supporting it, and where it fits into the clean energy matrix … Continue reading "A growing corporate appetite for nuclear fusion"
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Technology can only get as advanced as the materials that make it up, and things are moving fast. Anand Kamannavar is the global head of Applied Ventures, the CVC unit of advanced materials engineering company Applied Materials, investing in a wide range of technologies including energy, advanced materials and manufacturing, semiconductors, life sciences, AI and … Continue reading "Anand Kamannavar: Applied Ventures"
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Global Corporate Venturing features editor Rob Lavine joins the pod to talk about the shifting models corporate VC’s are employing for their impact investment activities. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Gonzalo Galindo is the head of Cemex Ventures, the corporate venturing unit of construction materials company Cemex. Having been at the helm of the CVC since its inception in 2017, Gonzalo talks about how the challenges within the construction sector – such as supply chain issues and sustainability – have evolved over the past nearly … Continue reading "Gonzalo Galindo: Cemex Ventures"
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Hector Shibata is the head of AC Ventures, the corporate venturing unit of beverage distributor Arca Continental. In addition to a deep dive into AC Ventures’ strategy, Hector talks about how the pandemic put a number of the firm’s focus sectors like retail-tech and logistics in a position of strength going into the coming economic … Continue reading "Hector Shibata: Arca Continental"
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Carlos Kokron is vice-president, managing director and head of Americas investments for Qualcomm Ventures, the corporate venturing unit of Qualcomm, the developer of semiconductors and wireless technology. In this episode of the Global Venturing Review, Carlos talks about why series A, B and C are the perfect goldilocks zone for Qualcomm Ventures, why it’s becoming … Continue reading "Carlos Kokron: Qualcomm Ventures"
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Every corporate venturing and corporate innovation programme is about to face what Greg Larkin likes to call the “f*** you, pay me meeting”. This is the meeting in which the team has to prove their value to the bottom line of the parent business — or they end up getting cut. Larkin is a change … Continue reading "Greg Larkin: Punks & Pinstripes"
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Interview with Anish Patel, COO and Managing Director of Yamaha Motor Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Interview with Roee Furman of Doral Energy-Tech Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Interview with Vito Giallorenzo of BlackBerry’s Ivy Innovation Fund. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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A weekly run down of the biggest stories in Corporate Venture Capital. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Interview with Oliver Keown, Jotthe Kannappan and Vivian De Ruijter of Intuitive Venture. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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A weekly run down of the biggest stories in Corporate Venture Capital. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
The post 13 June 2022 – Severstal to cease its corporate venturing operations appeared first on Global Venturing Review.
An interview with Alex Manson from SC Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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A rundown of the big corporate venture capital stories of the past week. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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This week we bring you the biggest news in the corporate venturing world. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
The post 23 May – FTX, Animoca Brands back 6th Man Ventures’ second fund appeared first on Global Venturing Review.
An interview with Amy Burr from JetBlue Technology Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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SoftBank chips into Bucketplace’s $182m round SoftBank Ventures Asia has taken part in a $182m round for South Korea-based interior design platform operator Bucketplace. Carbon Clean captures $150m in series C Carbon Clean, a UK-based carbon capture technology developer, raised $150m in series C funding led by Chevron Technology Ventures. Lev lifts up $170m series … Continue reading "16 May – SoftBank chips into Bucketplace’s $182m round"
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Shopify to buy Deliverr in $2.1bn deal E-commerce platform Shopify has agreed to acquire San Francisco-based logistics services provider Deliverr for $2.1bn in cash and stocK. Coinbase’s takeover talks with 2TM break down Cryptocurrency exchange Coinbase’s takeover talks with Brazil-based crypto brokerage 2TM, which would have boosted Coinbase’s international expansion, have reportedly broken down. Zepto … Continue reading "09 May – Shopify to buy Deliverr in $2.1bn deal"
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Deezer agrees $1.1bn reverse merger Deezer, the France-headquartered online audio streaming service backed by multiple corporates agreed to go public through a $1.13bn reverse takeover. Amazon produces $1bn industrial technology fund US-headquartered e-commerce and cloud services group Amazon announced a $1bn investment vehicle that will back customer fulfilment, logistics and supply chain technology developers. Stripe … Continue reading "25 April 2022 – Deezer agrees $1.1bn reverse merger"
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Epic Games scores $2bn in corporate funding Consumer electronics group Sony and toy brand Lego’s parent company Kirkbi each invested $1bn in US-headquartered video game producer Epic Games at a $31.5bn valuation. SoftBank to spin off Latin America fund Internet and telecommunications group SoftBank announced it is spinning off its Latin America Fund into an … Continue reading "18 April 2022 – Epic Games scores $2bn in corporate funding"
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AMD to pick up Pensando for $1.9bn Semiconductor producer AMD agreed to acquire US-based edge computing technology provider Pensando in a $1.9bn deal. Bolt ties on $1.5bn Wyre purchase Online checkout software provider Bolt agreed to buy US-based cryptocurrency payment technology developer Wyre in a $1.5bn transaction. ACA to land majority of BitFlyer Private equity … Continue reading "11 April 2022 – AMD to pick up Pensando for $1.9bn"
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Instacart snips valuation to $24bn US-based online grocery delivery service Instacart, which is backed by corporates American Express, Comcast and Amazon, is cutting its valuation from $39bn to $24bn. GoTo gets $1.1bn in initial public offering GoTo Group, the Indonesia-based joint venture between ride hailing platform operator Gojek and e-commerce group Tokopedia, has floated in … Continue reading "04 April 2022 – Instacart snips valuation to $24bn"
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Hub Cyber Security organises $1.28bn reverse merger Israel-based cybersecurity technology provider Hub Cyber Security agreed to a reverse merger worth $1.28bn that will allow insurance group Axa to exit Yuga Labs pulls in $450m Yuga Labs, the US-based creator of non-fungible token collection Bored Ape Yacht Club, secured $450m in a seed round at a … Continue reading "28 March 2022 – Hub Cyber Security organises $1.28bn reverse merger"
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FinAccel calls off $2.5bn reverse merger FinAccel, a Singapore-headquartered buy now pay later service backed by corporates Singapore Telecommunications, Telkom Indonesia, Telkomsel, Naver and GMO, has scrapped a planned $2.5bn reverse merger due to unfavourable market conditions. GoTo targets $1.1bn in initial public offering GoTo, the Indonesia-based amalgamation of ride hailing service Gojek and e-commerce … Continue reading "21 March 2022 – FinAccel calls off $2.5bn reverse merger"
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LanzaTech lands $2.2bn reverse takeover agreement LanzaTech, a US-based carbon capture technology developer backed by corporates ArcelorMittal, Mitsui, Novo, Siemens and Petronas, agreed to a $2.2bn reverse merger with special purpose acquisition company AMCI Acquisition Corp II. MUFG to explore India with $300m vehicle Japan-headquartered financial services firm MUFG formed a $300m India-focused investment vehicle … Continue reading "14 March 2022 – LanzaTech lands $2.2bn reverse takeover agreement"
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CommerzVentures collects $335m for third fund CommerzVentures, the venture capital firm financed by Germany-based financial services firm Commerzbank, launched its $335m third fund. SoftBank delivers $425m for Weee Internet and telecommunications group SoftBank’s Vision Fund 2 led a $425m series E round for Weee, a US-based delivery service focusing on ethnic and geography-specific groceries. Payhawk … Continue reading "07 March 2022 – CommerzVentures collects $335m for third fund"
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SoFi to take Technisys in $1.1bn deal Online personal finance provider SoFi agreed to acquire US-based digital banking technology provider Technisys in a $1.1bn all-stock transaction. ElasticRun procures $330m Internet and telecommunications group SoftBank’s Vision Fund 2 co-led a $330m funding round for ElasticRun, the India-based operator of a business-to-business (B2B) e-commerce platform. Scipher Medicine … Continue reading "28 February 2022 – SoFi to take Technisys in $1.1bn deal"
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SoftBank pinpoints Spotter in $200m series D Internet and telecommunications group SoftBank’s Vision Fund 2 led a $200m series D round for US-based online content financier Spotter at a $1.7bn valuation. Hy2gen generates $227m in funding Hy2gen, a Germany-headquartered producer of green hydrogen-based fuels, raised $227m from investors including energy engineering firm Technip Energies, highlighting … Continue reading "21 February 2022 – SoftBank pinpoints Spotter in $200m series D"
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D-Wave agrees to $1.6bn reverse merger D-Wave Systems, a Canada-based quantum computing technology developer backed by IT equipment producer NEC, agreed to a $1.6bn reverse merger with special purpose acquisition company DPCM Capital. Flexport receives $935m funding haul Logistics services platform developer Flexport raised $935m in a series E round featuring internet and telecommunications group … Continue reading "14 February 2022 – D-Wave Agrees to $1.6bn Reverse Merger"
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Sony makes $3.6bn Bungie play Sony Interactive Entertainment agreed to acquire US-based video game developer Bungie in a $3.6bn deal. SoftBank scores AInnovation exit in $154m IPO SoftBank has exited China-based artificial intelligence technology provider AInnovation in an initial public offering in Hong Kong. SoftBank makes good on $1.35bn Cruise pledge SoftBank’s Vision Fund is … Continue reading "07 February 2022 – Sony Makes $3.6bn Bungie Play"
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Swiggy swipes $700m in series K round India-based food ordering service Swiggy has secured $700m in a series K round featuring internet groups Prosus’ subsidiary Prosus Ventures and Smile Group. Boeing flies $450m to Wisk Aerospace manufacturer Boeing invested $450m in US-based flying taxi developer Wisk, highlighting the interest from the industry in commercially viable … Continue reading "31 January 2022 – Swiggy Swipes $700m in Series K"
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Crypto.com expands fund to $500m and brings on Russell China-headquartered cryptocurrency exchange Crypto.com has expanded its corporate venturing unit’s fund to $500m, becoming the latest crypto exchange to beef up its investment subsidiary. Animoca Brands embraces $359m in funding China-based gaming and blockchain technology developer Animoca Brands raised some $359m from investors including cryptocurrency exchange … Continue reading "24 January 2022 – Crypto.com Expands Fund to $500m and Brings on Russell"
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Tencent helps serve up $100m for Flipdish Internet and gaming group Tencent led a funding round for Flipdish, the Ireland-based developer of a customer experience software platform, sized at approximately $100m, highlighting the steady digitalisation of the hospitality industry. Roche rounds up $290m for Freenome Pharmaceutical firm Roche invested $290m in US-based cancer detection technology … Continue reading "17 January 2022 – Tencent Helps Serve Up $100m for Flipdish"
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SenseTime scores $851m in initial public offering China-based computer vision technology provider SenseTime, which floated in Hong Kong in a $851m IPO late last month, marking exits for Corporate investors SoftBank, Qualcomm, Alibaba, Suning and Dalian Wanda. Lineage successfully lines up $1.7bn US-headquartered cold supply chain service Lineage secured $1.7bn from investors including financial services … Continue reading "10 January 2022 – SenseTime Sees $851m in Initial Public Offering"
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Anchorage Digital holds down $350m series D funding Cryptocurrency assets platform provider Anchorage Digital raised $350m in a series D round featuring quantitative trading firm Alameda Research, cryptocurrency exchange Kraken and investment banking firm Goldman Sachs as institutional’ investors are set to move further into the crypto space. Claroty clutches $400m series E Energy management … Continue reading "20 December 2021 – Anchorage Digital Holds Down $350m Series D Funding"
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Arm eyeing IPO amid Nvidia deal uncertainty UK-based semiconductor technology producer Arm would look to have an initial public offering (IPO) as a backup plan if its planned acquisition by fellow chipmaker Nvidia were to fall through, a source told Global Corporate Venturing. SenseTime sets $767m target for IPO SenseTime, a China-headquartered artificial intelligence technology … Continue reading "13 December 2021 – Arm Eyeing IPO Amid Nvidia Deal Uncertainty"
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Essentium shines with $974m reverse merger Essentium, a US-based additive manufacturing technology developer backed by chemicals producer BASF and 3D printing software provider Materialise, agreed to list through a reverse takeover. Selina seals reverse merger deal Selina, a US-based operator of short-term accommodation and co-working spaces, agreed a reverse takeover with a SPAC called BOA … Continue reading "06 December 2021 — Essentium Shines with $974m Reverse Merger"
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J&T Express gets $2.5bn funding delivery Indonesia-headquartered logistics provider J&T Express has received $2.5bn in funding from investors including internet and gaming group Tencent at a valuation of $20bn as the company is getting set for an initial public offering in Hong Kong in early 2022. Deliverr captures $250m in series E round US-based e-commerce … Continue reading "29 November 2021 – J&T Express Gets $2.5bn Funding Delivery"
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Braze breaches public markets in $520m IPO US-based customer engagement technology provider Braze floated on the Nasdaq Global Select Market in a $520m IPO, marking an exit for financial services firm Citi. Expensify executes $302m initial public offering Expensify, the US-based expense management software producer backed by cybersecurity services provider Barracuda Networks, closed its own … Continue reading "22 November 2021 – Braze Breaches Public Markets in $520m IPO"
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Rivian motors to $11.9bn IPO US-based electric truck developer Rivian went public on the Nasdaq Global Select Market in an $11.9bn IPO that marked the exits for corporates Amazon, Ford, Cox Enterprises, Sumitomo and Abdul Latif Jameel. Paytm puts together $2.5bn IPO One97 Communications, the owner of payments service Paytm, is set to raise $2.5bn … Continue reading "15 November 2021 – Rivian Motors to $11.9bn IPO"
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Terran takes off with $1.58bn reverse merger Terran Orbital Corporation, a US-based satellite services provided backed by aerospace and defence manufacturer Lockheed Martin, has agreed to a reverse merger with special purpose acquisition company Tailwind Two Acquisition Corp. Nubank files for dual listing Nubank, a digital bank operator backed by corporates Tencent and Berkshire Hathaway, filed for … Continue reading "08 November 2021 – Terran Takes Off with $1.58bn Reverse Merger"
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Rent the Runway lands $357m in IPO US-based fashion rental service Rent the Runway – which operates an online platform that allows customers to rent high-fashion items through a subscription service – has gone public on the Nasdaq Select Market in a $357m IPO, which marks an exit for existing backers media group Advance Publications and … Continue reading "01 November 2021 – Rent the Runway Lands $357m in IPO"
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Gorillas roars to $1bn series C Germany-based on-demand grocery shopping platform Gorillas raised a series C round sized at almost $1bn, led by food delivery service provider Delivery Hero, which itself made a $235m contribution into the round. Instacart pulls off $350m Caper AI purchase Grocery delivery service Instacart is acquiring Caper AI, a US-based … Continue reading "25 October 2021 – Gorillas Roars to $1bn Series C, Instacart Pulls Off $350m"
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Celsius Network transacts $400m in funding Celsius Network, the US-based cryptocurrency services platform developer backed by stablecoin issuer Tether International, received $400m in funding in a round valuing the company at over $3bn. Trumid traps $208m in funding US-based online bond trading platform Trumid closed on $208m in funding featuring trading exchange operator Singapore Exchange … Continue reading "18 October 2021 – Celsius Network Warms Up with $400m in Funding"
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PTTOR organises corporate venturing unit Orzon Ventures will receive $25m in initial capital from PTTOR, which has partnered 500 Global to seek out deals in the Thai and Southeast Asian venture ecosystems. AFB attracts corporates for $102m Fund II Boehringer Ingelheim Venture Fund and Pierre Fabre have made capital commitments to Advent France Biotechnology’s second … Continue reading "11 October 2021 – Rivian Reveals IPO Filing"
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The Big Ones Oyo, an India-based accommodation platform backed by corporates Airbnb, Didi Chuxing, Hero Enterprise, Huazhu Hotels Group, Microsoft and SoftBank, filed for a $1.16bn initial public offering. The company will issue up to $942m in new shares while the rest will come from secondary transactions involving existing investors. Telecommunications and internet group SoftBank … Continue reading "04 October 2021 – Oyo Eyes $1.16bn Initial Public Offering"
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The Big Ones US-based restaurant organisation technology provider Toast is floating on the New York Stock Exchange today in an $870m initial public offering representing an exit for internet and technology group Alphabet. Toast, a US-based restaurant management software provider backed by Alphabet’s subsidiary GV, floated on the New York Stock Exchange in an $870m … Continue reading "27 September 2021 – Toast and Freshworks Make Strong Public Market Debuts"
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The Big Ones Canva, an Australia-based graphic design software provider backed by advertising agency VaynerMedia, raised $200m at a $40bn valuation. Investment manager T Rowe Price led the round, which included Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners (BVP), Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis Ventures and AirTree Ventures. Canva has built a … Continue reading "20 September 2021 – Investors help Canva paint $200m picture at $40bn valuation"
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The Big Ones Digital payment processor PayPal agreed to acquire Japanese consumer finance service Paidy for about $2.7bn. Paidy provides a buy-now-pay-later service that allows customers to make instant credit purchases that can be paid back on a monthly basis. PayPal will use the acquisition to strengthen its capabilities and presence in the domestic payments … Continue reading "13 September 2021 – PayPal Picks Up Paidy in $2.7bn Deal"
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We’re on summer break but will be back in September. Check out our websites for news stories in the meantime: Global Corporate Venturing Global University Venturing Global Impact Venturing “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Story 1 While immediate attention is on China’s latest crackdown of sectors, such as tech and education, and the ability for foreign investors to back them or even if they can make profits, there is greater optimism in another rising economic power: India. India-based sports-focused Rhiti Group has collaborated with local cement maker Kanodia Group … Continue reading "02 August 2021 – Rhiti Group and Kanodia Launch VC Firm Deep Pockets Capital Venture"
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The Big Ones SoftBank’s Vision Fund 2 and Prosus co-led a $1.25bn series J round for India-based food delivery service provider Swiggy at a $5.5bn valuation. The round also featured sovereign wealth fund Qatar Investment Authority as well as Accel, Wellington Management, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Capital and Carmignac. TechCrunch said … Continue reading "26 July 2021 – Swiggy Raises $1.25bn in Series J"
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Big ones SoftBank’s Vision Fund 2 supplied $1.7bn in funding for South Korea-based travel and accommodation services provider Yanolja. It was valued at $1bn in a $180m series D round in mid-2019 backed by Booking Holdings and GIC. It had received $53.2m from SkyLake Investment two years earlier and $8.5m from Partners Investment in 2015. … Continue reading "19 July 2021 – SoftBank serves Yanolja with $1.7bn"
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The Big Ones Pine Labs, an India-based digital payment technology provider backed by PayPal and Mastercard, secured over $600m in funding. Kotak Mahindra Bank and investment and Fidelity supplied the cash together with IIFL AMC’s Late-Stage Tech Fund, Ishana, Tree Line, funds managed by BlackRock and a fund advised by Neuberger Berman Investment Advisers. UK-based … Continue reading "12 July 2021 – Wise Floats on London Stock Exchange with $12bn Valuation"
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The Big Ones SoftBank’s Vision Fund 2 co-led a $600m series D round for UK-based surgical robotics technology developer CMR Surgical with healthcare investment group Ally Bridge, while Cambridge Innovation Capital, the patient capital fund formed with the support of University of Cambridge, also participated. GE Healthcare, a subsidiary of power and industrial technology conglomerate … Continue reading "05 July 2021 – CMR Surgical Raises $600m in Round Led by SoftBank’s Vision Fund 2"
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The Big Ones Waymo, the autonomous driving technology developer spun off by Alphabet, has raised $2.5bn in funding from investors including its former parent company. AutoNation and Magna International also took part in the round, as did group Fidelity Management & Research, Mubadala, Temasek, Andreessen Horowitz, Canada Pension Plan Investment Board, Perry Creek Capital, Silver … Continue reading "21 June 2021 – Waymo Drives $2.5bn Investment"
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The Big Ones 1 There is a lot happening in Cambridge, England. The university might have passed its 800th anniversary earlier in this century but the basics of its operating model to bring the smartest people in the world together to solve its hardest challenges remains intact. The latest advances include the launch and first … Continue reading "14 June 2021 – Cambridge Launches Deeptech Labs"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Malin Carlström of ABB Technology Ventures and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By … Continue reading "Leadership Series: Malin Carlström (ABB Technology Ventures)"
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The Big Ones Germany-based digital insurance provider Wefox completed a $650m series C round that included online lending platform developer Creditease and Salesforce Ventures. The round was led by Target Global and included Omers Ventures, Gsquared, Merian and its Jupiter subsidiary, Horizons Ventures, Eurazeo, Mubadala, Speedinvest, LGT, Alma Mundi Ventures, Victory Park Capital, GR Capital, … Continue reading "07 June 2021 – Wefox Completes $650m Series C"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with David Hayes of BP Ventures and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution … Continue reading "Leadership Series: David Hayes (BP Ventures)"
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The Big Ones US-headquartered e-commerce holding company Perch completed a $775m series A round led by SoftBank’s Vision Fund 2. The round also featured venture capital firm Spark Capital and alternative investment manager Victory Park Capital. It is the largest series A yet to be closed by a US-based company, according to Perch. JD Logistics, … Continue reading "31 May 2021 – Perch Raises $755m in Record-breaking Series A"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Yvonne Lutsch of Bosch Venture Capital and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By … Continue reading "Leadership Series: Yvonne Lutsch (Bosch Venture Capital)"
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The Big Ones 1 Delighted the May issue of GCV is now out covering the media sector, a special report on AI, Israel as the innovative region, extracts from Global University Venturing and Global Impact Venturing sister titles and all the monthly data from GCV Analytics. From the editorial: The innovation ecosystem we find ourselves in arguably has its … Continue reading "24 May 2021 – Goldman Sachs Invests $20m in British Anti-money Laundering Company ComplyAdvantage"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Francis Ho of Samsung Catalyst Fund and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By … Continue reading "Leadership Series: Francis Ho (Samsung Catalyst Fund)"
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The Big Ones China-based grocery delivery app operator Dingdong Maicai closed a $330m series D-plus round led by SoftBank’s Vision Fund. Founded in 2017, Dingdong Maicai has built a grocery e-commerce platform it claims delivers fresh produce and seafood ingredients door-to-door in under 30 minutes. It has served more than 5 million households across 27 … Continue reading "17 May 2021 – Grocery Delivery App Dingdong Maicai Orders Up $330m Series D"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Linda Yates of Mach49 and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Canada-based digital investment platform developer Wealthsimple received C$750m ($610m) in funding from investors including Allianz X, a subsidiary of Allianz, at a valuation of almost $4.1bn. Meritech Capital and Greylock Partners co-led the round, which also featured DST Global, Sagard, Iconiq Capital, Dragoneer, TCV, iNovia Capital, Base 10 Partners, Redpoint Ventures, Steadfast … Continue reading "10 May 2021 – Oxford Nanopore Pockets $280m in Equity Financing"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Ellen Ehrenpreis of Orrick and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Netherlands-based customer service software provider Messagebird has added $800m to a series C round featuring Bonnier, expanding it to $1bn. Bonnier joined Eurazeo, Tiger Global Management, BlackRock, Owl Rock, Glynn Capital, LGT Lightstone, Longbow, Mousse Partners, NewView Capital, Accel, Atomico and Y Combinator in the extension, which was made up of 70% … Continue reading "03 May 2021 – Messagebird Adds $800m to Series C Round"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Jaclyn Kossmann of Applied Ventures and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution … Continue reading "Leadership Series: Jaclyn Kossmann (Applied Ventures)"
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The Big Ones 1 In November, this column said, if demotivated, “talented people will quickly cut the cord”. This was in response to US-listed cable group Comcast’s decision to limit its successful corporate venturing unit, as GCV reported at the time. Almost six months on and the team has broken up as feared. And the unit, which was founded … Continue reading "26 April 2021 – UK National Grid Commits Further $150m to its Silicon Valley-based Corporate Venture and Innovation Group"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Jason Miles of Volvo VFS and Nicolas Sauvage of TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution … Continue reading "Leadership Series: Jason Miles (Volvo VFS)"
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The Big Ones 1 Spend enough time in venture and you can see the transformation in startups and the economy almost as if time has speeded up. GCV’s first article on Coinbase, eight years ago to the day, described it as “a digital wallet for Bitcoin transactions”, which “had raised $600,000 from accelerator Y Combinator and publisher … Continue reading "19 April 2021 – Coinbase Lists on Nasdaq"
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An audio version of the ‘Fintech Findings: The State of The Fintech Market in 2021’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones India-based food delivery service Swiggy has raised $800m from Prosus Ventures, Falcon Edge, Goldman Sachs, Amansa Capital, Think Capital, Carmignac and Accel. The round is said to have boosted the company’s post-money valuation to $5bn. Swiggy runs an app where users can order food for delivery from local restaurants, and is one … Continue reading "12 April 2021 – Food Delivery Service Swiggy Raises $800m"
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An audio version of the ‘How U.S. Based Venture Arms From Asia Are Supporting Innovation’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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An audio version of the ‘Scaling Up: How VC Is Helping Startups Succeed’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones On-demand consumer product delivery service GoPuff has experienced some major league growth of late, and has secured $1.15bn from investors including SoftBank Vision Fund 1 in a round lifting its valuation from $3.9bn to $8.9bn. The $3.9bn valuation had been achieved just five months ago, in a $380m round that also featured … Continue reading "29 March 2021 – GoPuff Secures $1.15bn in Round Including SoftBank"
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n audio version of the ‘The Industry Blazing a New Path Through Incubation – How Hitachi is Leveraging Incubations and Developing an Ecosystem to Supercharge Organic Growth’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Payment processing software provider Stripe has raised $600m from investors including Axa and Allianz X, but the key element to the story is its valuation, which has rocketed from an already huge $36bn less than a year ago to $95bn in the latest round. It’s another symptom of the surging fintech sector, … Continue reading "22 March 2021 – Stripe Raises $600m with a $95bn Valuation"
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An audio version of the ‘Opening Keynote Fireside Chat: Vinod Khosla’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones One element of retail that has emerged unscathed from the covid-19 pandemic is food, and Lineage Logistics is among the biggest cold chain services providers in the world, offering temperature-controlled delivery and storage. It has also raised $1.9bn from investors including property developer Oxford Properties and several real estate investment firms. The … Continue reading "15 March 2021 – $1.9bn for Cold Chain Services Provider Lineage Logistics"
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An audio version of the ‘Great Expectations: How M12 is Investing in Female Founders and Supporting D&I’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones E-commerce instalment finance provider Klarna is riding the fintech wave, having raised $1bn in financing from undisclosed new and existing investors in a round that almost tripled its valuation from $10.7bn to $31bn. Visa, Ant Group, Bonnier, Commonwealth Bank of Australia and Bestseller Group are among the company’s existing backers, and the … Continue reading "08 March 2021 – Klarna Raises $1bn"
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An audio version of the ‘Henkel’s Approach To Startup Collaboration (CVC Case Study)’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones 1 Bonny Simi, pilot and founder of US airline JetBlue’s corporate venturing unit, read the runes correctly in December when she left to join portfolio company Joby Aviation as head of air operations and people. This week, Joby, which is in prototype phase of developing an all-electric, vertical take-off and landing (eVTOL) … Continue reading "01 March 2021 – Could the Sleeping Giant of Corporate Venturing – India – Finally Be Waking Up?"
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An audio version of the ‘Perfect Harmony: The Convergence of AI Across Industries – Best Practices Examined’ session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones 1 Wishing our readers around the world a wonderful prosperous lunar new year – welcome to the year of the ox. There has been a plateau in deal volumes in China over the past two years with other Asia-Pacific markets catching up, as adjunct professor Martin Haemmig noted at our last GCV … Continue reading "21 February 2021 – Blockchain.com Raises $120m in Strategic Growth Round"
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An audio version of Oxford Union Debate Motion: Will Blockchain Disrupt The Venture Industry discussion session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones 1 I was catching up with a former corporate venturing leader this month as she described a healthy portfolio of activities covering public and private board roles and “forming a SPAC – isn’t everyone?” Yes, is probably the answer to working on a special purpose acquisition company (SPAC), if you are part … Continue reading "15 February 2021 – Nationwide Increases Nationwide Ventures Allocation to $350m"
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An audio version of The Venture Manifesto discussion session from our GCV Digital Forum in January 2021. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Few VC-backed companies have had as busy a week in the mainstream media as Robinhood. The share trading platform developer has been ground zero for the GameStop rush as well as increased activity for other “meme” stocks like AMC, Nokia and BlackBerry. But those increased trading levels means more cash required to … Continue reading "08 February 2021 – Robinhood Raises $3.4bn"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Jennifer Ard of Intel Capital. Jennifer is interviewed by Nicolas Sauvage who we interviewed in an earlier episode of our Leadership Series. … Continue reading "Leadership Series: Jennifer Ard (Intel Capital)"
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The Big Ones GCV Digital Forum 2021 event had a host of highlights, including awards, the World of Corporate Venturing annual review, magazines and to bring together such luminaries to share insights and deal flow through the GCV Connect powered by Proseeder platform as well as commercially bring in the subscribers, sponsors and attendees. To have about … Continue reading "01 February 2021 – Xerox Sets Up $250m Corporate Venture Capital Fund"
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In this week’s episode of the Leadership Series podcast, we talk to George Baxter, chief executive of Edinburgh Innovations about the strengths of the Scottish ecosystem, leading a tech transfer office that also handles student startups and the importance of public funding (and giving the taxpayer their money’s worth). “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed … Continue reading "Leadership Series: George Baxter (Edinburgh Innovations)"
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The Big Ones It is always good to get the insights from The Economist’s World in 2021 report, even if the paper acknowledges JK Galbraith’s wisdom that forecasting is a job for those who do not know or do not know they do not know. If oil prices and the economy bounce back and inflation … Continue reading "25 January 2021 – Vor Files for IPO on the Nasdaq"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with our very own James Mawson, founder and CEO of Mawsonia. James is interviewed by Nicolas Sauvage who we interviewed in an earlier … Continue reading "Leadership Series: James Mawson (Mawsonia)"
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The Big Ones EQRx formally launched a year ago with $200m from investors including GV and Nextech, and all its series A investors have now returned for a $500m series B round. The startup is collaborating with stakeholders including pharmaceutical companies to develop more affordable medicines, with late-stage cancer drugs a particular focus. It is … Continue reading "18 January 2021 – GV Returns for EQRx’s $500m Series B"
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We have teamed up with 500 Startups’ CVC Insider Series, where top CVC practitioners offer advice and best practices regarding common challenges encountered within corporate venturing. Featured this week is an interview with Aaron Brandt of Hypertherm Ventures. Aaron is interviewed by Nicolas Sauvage who we interviewed in an earlier episode of our Leadership Series. … Continue reading "Leadership Series: Aaron Brandt (Hypertherm Ventures)"
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The Big Ones One of the big shifts in 2020 was the surge in educational technology providers, with China leading the way. That was before a flurry of large rounds in the space right before the end of the year, the biggest being a $1.6bn series E round for online tutoring platform developer Zuoyebang that … Continue reading "11 January 2021 – Online Tutoring Platform Zuoyebang Raises $1.6bn Series E"
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The Big Ones Ant Group may not have been able to successfully go public but China’s other hugely valuable VC-backed private company, ByteDance, is reportedly in the process of raising $2bn at a $180bn valuation. KKR and Sequoia Capital are co-leading the round, but no word yet on whether it’s set to include SoftBank, a … Continue reading "21 December 2020 – ByteDance Raising $2bn at $180bn Valuation"
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In this week’s episode of the Leadership Series podcast, we talk to Larry Loev, chief executive of Ariel Scientific Innovations, about leading a tech transfer office for a young but ambitious university, the opportunities of tech transfer in a country famed for its startup ecosystem and how to bring innovation to oenology. “Funky Chunk” Kevin … Continue reading "Leadership Series: Larry Loev (Ariel Scientific Innovations)"
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The Big Ones 2020 has been a year when, for obvious reasons, innovative drug development has taken a leap forward. Tempus combines artificial intelligence and molecular data to come up with precision therapeutics, and has secured $200m in series G2 funding from investors including Novo and Google at an $8.1bn post-money valuation. That’s a 62% … Continue reading "14 December 2020 – Drug Development Company Tempus Secures $200m"
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In this week’s podcast episode of the Leadership Series, we talk to Mike Zimmerman, partner at Main Sequence Ventures, about improving commercialisation activities in Australia, the importance of deep tech over the next few decades and developing a plant-based burger in partnership with Hungry Jack’s at breakneck speed. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under … Continue reading "Leadership Series: Mike Zimmerman (Main Sequence Ventures)"
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The Big Ones Electronics and appliance retailer Suning has spun off its online retail platform and e-commerce services activities into a newly formed business called Yunwang Wandian with approximately $913m in funding. The capital was provided by Shenzhen Capital Group, SenseRobot Management, Ningbo Xianshi Enterprise Management and Central China Asset Management at a reported $3.8bn … Continue reading "07 December 2020 – Salesforce Announces $27.7bn Purchase of Slack"
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Thierry Heles talks to Kelly Sexton, Associate Vice President for Research – Technology Transfer and Innovation Partnerships at University of Michigan. In this role, she supports and encourages university-wide programs for intellectual property development, innovation, and engagement with business and venture communities in the region, across the nation, and around the globe. “Funky Chunk” Kevin … Continue reading "Leadership Series: Kelly Sexton (University of Michigan)"
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The Big Ones Digital payment technology and services provider Stripe last raised money in October 2019, closing $850m from investors including Alphabet unit GV at a whopping $36bn valuation. But its next round could double that valuation, sources told Bloomberg, adding that it has opened discussions with prospective investors and that a $100bn valuation could … Continue reading "30 November 2020 – Stripe Opens Discussions for Funding at Potential $100bn Valuation"
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Amparo de San José Riestra, director, IESE Business School Angel Network, moderates a discussion between Shiva Dustdar and Lara Koole on how to include women in funding. Shiva Dustdar is the head of Innovation Finance Advisory Division at the European Investment Bank and Lara Koole is a partner at Philips Ventures. “Funky Chunk” Kevin MacLeod … Continue reading "Leadership Series: Shiva Dustdar & Lara Koole (Including Both Halves of Society)"
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The Big Ones Distributed database software provider PingCap has secured $270m in series D funding from backers including Bertelsmann Asia Investments that will support research and development as well as international expansion. Another corporate investor, Fosun, led PingCap’s last round, a $50m series C round two years ago. PingCap is the creator of an open-source … Continue reading "23 November 2020 – PingCap Stores £270m in Series D Funding"
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Thierry Heles talks to Alastair Hick, senior director at Monash Innovation. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones “The door is always open for a second and third [Vision] fund, but we’re not very popular,” according to Masayoshi Son, founder of SoftBank, who was quoted in the Financial Times. SoftBank raised almost $100bn for its first Vision Fund back in 2016 and invested three-quarters of it, showing a slight paper … Continue reading "16 November 2020 – SentinelOne Bags $267m in Series F"
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James Mawson talks to Oliver Keown, director of Intuitive Ventures on setting up a $100m fund focussed on minimally-invasive care. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Law firm Orrick Herrington and Sutcliffe’s recent investments in Priori Legal and term sheet data analysis provider Aumni, coinciding with Latham & Watkins and Clifford Chance’s joint investment in legal tech platform Reynen Court’s recent $4.5m round, reflect the strategic interest in so-called legaltech startups. The $30m Hypertherm Ventures fund is targeting early-stage deals in … Continue reading "09 November 2020 – Ant Group’s IPO Suspended by Regulators"
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Martin Haemmig talks to Jeffrey Li, managing partner of Tencent Investment and winner of the 2020 Global Corporate Venturing Powerlist 100. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Ant aims to raise $34.5bn – the biggest initial public offering – by splitting its stock issuance equally across Shanghai and Hong Kong stock exchanges, according to news provider CNBC. Discussion at the GCV Digital Forum 2.0 last month about Including Both Halves of Society heard Lara Koole, partner at Netherlands-based conglomerate Philips’ corporate venturing unit, … Continue reading "02 November 2020 – Ant Gets Ready for Global Expansion"
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We talk to Moray Wright, co-founder and chief executive of Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Yuanfudao is the latest Chinese online education provider to raise a huge amount, reportedly securing $1bn in a series G2 round led by DST Global that valued it at $15.5bn post-money. Its earlier investors include Tencent, which co-led the company’s $1bn series G round in March at a $7.8bn valuation, and which … Continue reading "26 October 2020 – Ant Group Aims for World’s Biggest Floatation Topping $250bn"
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In this week’s episode of the Global Venturing Review Leadership Series, we talk to Alicia Löffler, associate provost for Innovation & New Ventures, associate vice president for Research and executive director, INVO, Center for Translational Innovation (CTI) at Northwestern University. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Kahoot has been one of the biggest recent success stories in the startup space. The company, the developer of a gamified online learning platform, has secured $215m from SoftBank through a private placement that valued it above $2.2bn, a huge jump from the $100m valuation at which it raised money just over … Continue reading "19 October 2020 – SoftBank Backs Kahoot with $215m Investment"
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In this week’s episode of the Global Venturing Review Leadership Series, we talk to Nichole Mercier, assistant vice-chancellor and managing director for technology transfer at Washington University in St Louis, about increasing engagement from female researchers, the impact of the pandemic on women faculty with children and fostering serial entrepreneurs that choose to stay in … Continue reading "Leadership Series: Nichole Mercier (Washington University in St Louis)"
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The Big Ones Uber launched its shipping services platform, Uber Freight, in 2017, and is now spinning it off with $500m in series A financing from Greenbriar Equity Group at a $3.3bn post-money valuation. The funding will help Uber Freight compete against emerging competitors like Flock Freight and Loadsmart, as well as international rivals such … Continue reading "12 October 2020 2020 – Uber Spins out Uber Freight with $500m Series A"
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In this week’s episode of the Global Venturing Review Leadership Series, we talk to Tony Raven, chief executive of University of Cambridge’s commercialisation arm Cambridge Enterprise, about abandoning long-held beliefs in the workplace, his help in launching both IP Group and Cambridge Innovation Capital and the importance of running a tech transfer operation worthy of … Continue reading "Leadership Series: Tony Raven (Cambridge Enterprise)"
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The Big Ones It was a privilege to hear the insights at the GCV Digital Forum 2.0 yesterday. Combining our regional and sector events, GCV Asia Congress, Synergize and Energy, was always a recipe for some of the world’s leaders to gather and share as well as network. The insights started with Gen Tsuchikawa, CEO … Continue reading "05 October 2020 – Sophia Genetics Raises $110m Series F"
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In this week’s episode of the Global Venturing Review Leadership Series, we talk to Orin Herskowitz, senior vice-president of intellectual property and tech transfer for Columbia University, and executive director of Columbia Technology Ventures, about New York’s accelerators, the upsides of Zoom meetings and why having a humanities degree is the perfect background for heading … Continue reading "Leadership Series: Orin Herskowitz (Columbia University)"
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The Big Ones Congratulations to Mike Cavanagh at Comcast for taking up the reins of its ventures unit after Amy Banse’s decision to retire next year. Thanks goes to Banse for her support to the community over the past decade and glad she’s staying engaged through Comcast to deliver on sustainability, gender equality and mentorship. My … Continue reading "28 September 2020 – Roche Pays $448m to Buy Inflazome"
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In this week’s episode of the Global Venturing Review Leadership Series, James Mawson talks to Mark Sherman of Telstra Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Klarna, operator of an app that lets consumers pay for items from some 200 retailers through instalment payments, has raised $650m in a round that almost doubled its valuation to $10.65bn in the space of just over a year. Klarna’s earlier investors include Bestseller Group, Visa, Ant Group and Commonwealth Bank of … Continue reading "21 September 2020 – Klarna Raises $650m to Almost Double its Valuation"
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In this week’s episode of the Global Venturing Review Leadership Series, we talk to Tony Armstrong, president and chief executive of IU Ventures, about how the organisation supports Indiana University spinouts and startups. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Online education has firmly established itself as the key sector in India’s startup space, and Byju’s has effectively confirmed that, raising an amount reported by TechCrunch to be $500m. Byju’s, which is backed by Tencent, Naspers and Times Internet, was valued at $10.8bn post-money in the round, which came in the wake … Continue reading "14 September 2020 – Online Education Company Byju Raising $500m"
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On this week’s Leadership Series we talk to Lesley Millar-Nicholson, director of MIT’s Technology Licensing Office and Catalysts, about a bumper year despite the pandemic. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Online education has been one of the big growth sectors during the coronavirus pandemic. That’s particularly true in China, and as one of the biggest players Yuanfudao has likely seen a decent chunk of that growth. The company raised $1bn at a $7.8bn valuation less than six months ago but is now … Continue reading "07 September 2020 – QuantumScape in Reverse Merger with Kensington Capital Acquisition Corp"
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On this week’s Leadership Podcast we turn back the clock to our summer digital form held in June for a talk by DLA Piper’s Mark Radcliffe who is joined by Eric Goldberg to talk about the duties of board directors in the context of a financially distressed company. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under … Continue reading "Leadership Series: Mark Radcliffe (DLA Piper)"
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The Big Ones Cancer test developer Freenome has closed a $270m series C round that included Novartis and existing backers GV, Kaiser Permanente Ventures and Roche Venture Fund to hike its overall funding to $507m. The capital will be allocated to a clinical study for a blood test Freenome is developing for colorectal cancer screening, … Continue reading "31 August 2020 – Ant Group Files for Dual Listing to Potentially Raise $30bn"
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Our Leadership Series interview where we talk to Peter Devine about Uniseed, Australia’s longest running venture fund that operates at the Universities of Melbourne, Queensland, Sydney & New South Wales, and the CSIRO. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones SpaceX has been one of the most fervent fundraisers among private companies in recent years and it shows no signs of stopping. A securities filing indicates the spacecraft manufacturer and launch services provider has secured $1.9bn from undisclosed investors, with recent media reports putting the valuation of the round at $46bn. Its … Continue reading "24 August 2020 – SpaceX Raises $1.9bn"
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Something a little different this week: We have teamed up with Mark Radcliffe from DLA Piper to bring you an audio recording of their webinar on Corporate venture capital investment strategies in the COVID-19 pandemic. If you prefer video here is a link to the webinar: https://www.dlapiper.com/en/uk/insights/events/2020/07/corporate-venture-capital-investment-strategies-in-the-covid19-pandemic/7-july-2020/ The panel included Paul Holland of Mach49, Nicolas … Continue reading "Leadership Series: Mark Radcliffe (DLA Piper Webinar)"
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The Big Ones A lot of brick-and-mortar retailers have suffered during coronavirus lockdowns in recent months but certain parts of the e-commerce sector have done very well. That includes online sports apparel retailer Fanatics, whose business is reportedly 30% up year on year and which has raised $350m in a series E round that hiked … Continue reading "17 August 2020 – Impossible Foods Closes $200m Series G"
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Our Leadership Series interview where we talk to Jim Wilkinson of Oxford Sciences Innovation about the company and how they invest. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Big ones Epic Games has confirmed a $1.78bn funding round that included the $250m investment announced by Sony last month. The game developer had substantial success with the Unreal Tournament and Gears of War games, but it’s the immense popularity of Fortnite that has lifted it to the $17.3bn valuation it currently holds – it … Continue reading "10 August 2020 – Epic Games Confirms $1.78bn Funding Round"
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Our Leadership Series interview where we talk to Girish Nadkarni & Demi Edosomwan of TCNV about their investment strategies and the impact of COVID-19 and climate change. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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There are occasional silver linings even for the blackest clouds. One was as the Covid-19 disease broke out this year competition for deals became a little lighter. TDK Ventures, the corporate venturing unit of the Japan-based materials group, stepped toward this light. Nicolas Sauvage, head of TDK Ventures, said it had four deals in its … Continue reading "03 August 2020 – Wu Snaps Up her Former Assets"
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Our Leadership Series interview where we talk to Gen Tsuchikawa of Sony about their investment funds and COVID-19. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Deals CureVac has officially closed a $640m round, adding $126m to recent investments that included $171m from GlaxoSmithKline through a strategic partnership. That’s one of the biggest venture rounds ever in the life sciences sector, and the interest likely stems from the potential of its messenger RNA therapies to form the basis of a Covid-19 vaccine, … Continue reading "27 July 2020 – CureVac Officially Closes $640m Round"
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Our Leadership Series interview where Jacqueline LeSage-Krause of Munich Re Ventures talks about how COVID-19 has affected her work. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Jio Platforms was spun off by Indian conglomerate Reliance Industries late last year to build a mobile network tailored for 5G and the internet of things, and everyone seems to want a slice. The latest is Google, which is paying $4.5bn for a 7.7% stake in Jio, the deal coming in the … Continue reading "20 July 2020 – 5G & IoT Provider Jio Platforms Gains $4.5bn from Google"
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Our Leadership Series interview where Tracy Isacke of Silicon Valley Bank talks to Tony Askew from REV Venture Partners. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Now ride hailing has matured past the stage where it requires multi-billion dollar rounds, one of the biggest fundraisers in recent months has been Rivian, an electric truck and SUV developer that won’t even have a product out until next year. It has however struck a deal to sell 100,000 electric delivery … Continue reading "13 July 2020 – Rivian Strikes Deal with Amazon for 100,000 Electric Delivery Vans"
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Our Leadership Series interview where we talk to Jon Lauckner also from GM Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones China’s online education sector is one of the areas where growth is currently moving fastest. Yuanfudao raised $1bn in a series G round in March, and now Zuoyebang, which was spun off by Baidu five years ago, has pulled in $750m in series E funding from investors including SoftBank Vision Fund. The … Continue reading "06 July 2020 – Zuoyebang Pulls In $750m in Series E Funding"
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Our Leadership Series interview where we talk to Amy Banse also from Comcast Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones There is a true IPO bonanza going on at the moment and we’ll get to that in a moment, but there’s still a good deal of money sloshing around the sector for early-stage deals too. Sana Biotechnology is working on a string of drug candidates utilising stem cell technology and has raised … Continue reading "29 June 2020 – Sana Biotechnology Raises $700m in First Round"
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Our Leadership Series interview where we talk to David Gilmour also from BP Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Big Stories Slowly, then suddenly change happens This past week’s online roundtable for the Reinhard Mohn Prize 2020*, Fostering Innovation, Unlocking Potential, hosted by the Bertelsmann Stiftung (Foundation), saw luminaries from politics, business, civil society and science under Chatham House rule discuss which innovation policies and frameworks are now needed to facilitate economic prosperity and societal progress in the future and strengthen our crisis … Continue reading "22 June 2020 – DoorDash Raises $400m in Late Stage Round"
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Our Leadership Series interview where Ashley Lowes, Head of Communications & Marketing at JetBlue Technology Ventures, talks to Raj Singh & Amy Burr also from JetBlue Technology Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Big Ones Online student answer and livestreamed education provider Zuoyebang was spun off by Baidu and has since received $585m in venture funding. Like many online education platforms however, it has seen a big uptick in business during China’s coronavirus lockdown, and is in talks to raise between $600m and $800m. The round would reportedly … Continue reading "15 June 2020 – Zuoyebang in Talks to Raise up to $800m in Coronavirus Boost"
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GCV Digital Forum Roundup Thank you to the team and all who have worked their socks off for the first GCV Digital Forum, and also the sponsors, speakers and attendees who have made it such a success. The platform will stay open for 30 days. It was exciting to hear the industry on the GCV … Continue reading "08 June 2020 – GCV Digital Forum Roundup"
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The Big Ones 1 Switzerland-based bank UBS Group is setting aside hundreds of millions of dollars of its money to invest in financial technology companies, according to Bloomberg. UBS hired Erasmus Elsner for its venture capital and growth equity unit last month but is reportedly still recruiting staff for a dedicated corporate venture capital (CVC) … Continue reading "01 June 2020 – UBS Groups Prepares for Fintech Investments"
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Our Leadership Series interview where Edison Fu talks to Heriberto Diarte from Schneider Electric Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Chinese AI software provider SenseTime has expanded its visual surveillance technology to assess the internal temperature of individuals in order to more efficiently track coronavirus patients, and is considering seeking $1bn in funding. Reports in March suggested it was chasing $500m to $1bn in lieu of an IPO, but sources have told … Continue reading "25 May 2020 – SenseTime Expands to Help Track Coronavirus"
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Our Leadership Series interview where Edison Fu talks to Nicolas Sauvage from TDK Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Big Stories 1 Spencer Chavez, a GCV Rising Stars 2020 winner, has stepped down from his position as principal at Salesforce Ventures to join KKR. KKR has been building its tech growth team under Dave Welsh as traditional private equity firms move down towards growth equity deals for opportunities and as a window on disruptive … Continue reading "18 May 2020 – Challenging Investment Landscape and Down-Rounds"
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Our Leadership Series interview where Edison Fu talks to Arvind Purushotham from Citi Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Big Stories Korys, the family office behind the France and Belgium-based retailer Colruyt Group, and Mérieux Equity Partners, the asset management arm of the Institut Mérieux holding company, have set up joint funds targeting companies in the healthcare and nutrition sectors in Europe and North America. OMX Europe Venture Fund has raised more than €60m … Continue reading "11 May 2020 – Intel picks up Moovit for $900m"
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Our Leadership Series interview where James Mawson talks to John Glushik from HG Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Three As highlighted in last week’s podcast, some sectors are flying high and, certainly relative to the global financial crisis a dozen years ago, banking and financial services is one of them. New York-listed financial technology (fintech) provider FIS has committed $150m to its corporate venturing unit as part of a joined-up approach to … Continue reading "04 May 2020 – FIS Commits $150m to its Corporate Venturing Unit"
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Our Leadership Series interview where James Mawson talks to David Hayes and Nacho Gimenez from BP Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big ones AvidXchange, a developer of accounts payable automation software, has raised $128m to hike its latest round to $388m. Mastercard was among the investors, having contributed to the company’s last round, when it secured $300m in 2017 at a $1.4bn valuation. Reports in December stated AvidXchange was chasing a $2bn valuation for this … Continue reading "27 April 2020 – AvidXchange Raises $128m Bringing Total Round to $388m Plus Audio from our Second COVID19 Webinar"
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Our Leadership Series interview where Edison Fu talks to Tarik Galijasevic from Allstate Strategic Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones Digital payment processor Stripe is one of the companies that has seen demand for its product skyrocket in recent weeks as more and more commerce moves online. It has also raised another $600m from investors including GV to meet that demand, taking a series G round valuing it at $35bn pre-money to … Continue reading "20 April 2020 – Stripe Raises $600m in Series G Plus Audio from our Industrial Sector Webinar"
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Our Leadership Series interview where James Mawson talks to Tony Cannestra from Denso International America. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The week’s podcast takes a look at the Covid-19 Crisis and the funding opportunities that have come from it. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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Our Leadership Series interview where James Mawson talks to Bonny Simi from JetBlue Technology Ventures. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
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The Big Ones It is the sort of line to awaken the curiosity in an annual report: “Cash payments to acquire equity investments amounted to £258m [$314m] (2018 – £309m), primarily relating to Lyell Immunopharma.” Thus, the accountants revealed UK-listed drugs maker GlaxoSmithKline (GSK) had invested a sizeable amount in US-based cancer treatment developer Lyell Immunopharma, … Continue reading "06 April 2020 – Lyell Immunopharma Gains $493m Investment from GlaxoSmithKline"
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Our Leadership Series interview where Thierry Heles talks to Darek DeFreece from UC Berkeley. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 The post Leadership Series: Darek DeFreece (UC Berkeley) appeared first on Global Venturing Review.
The Big Ones In what may be an ominous sign, electric scooter rental service Lime is reportedly in talks to raise funding at a $400m valuation, a steep fall from its last round just over a year ago, when it secured $310m in a series D round featuring Alphabet that valued it at $2.4bn. The … Continue reading "30 March 2020 – Lime in Talks to Raise Funding at a Reduced $400m Valuation"
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Our Leadership Series interview where Thierry Heles talks to Tom Vanhoutte from Imec.xpand. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 The post Leadership Series: Tom Vanhoutte (Imec.xpand) appeared first on Global Venturing Review.
The Big Ones When SoftBank emerged with a $9.5bn rescue package for beleaguered workspace provider WeWork in October, $3bn of the amount had been earmarked for a tender that would have involved it buying shares from existing investors and shareholders – likely including hotel chain Jin Jiang International and Legend Capital. However, the company has … Continue reading "23 March 2020 – Fox Agrees to Buy Tubi for $440m in Cash"
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The second part of our Leadership Series interview where Izzy Woolgar talks to Jonathan Tudor from Centrica and our very own James Mawson. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 The post Leadership Series: Jonathan Tudor (Centrica) Part 2 appeared first on Global Venturing Review.
The Big Ones Insightec is targeting up to $150m in a series F round valuing it at $1.3bn post-money, and has already received a $100m commitment from Koch Disruptive Technologies to lead the round. The company is developing a system that will use ultrasound to conduct brain surgery without making an incision, and KDT also … Continue reading "16 March 2020 – Insightec Targets $150m Series F"
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The first part of our Leadership Series interview where Izzy Woolgar talks to Jonathan Tudor from Centrica and our very own James Mawson. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 The post Leadership Series: Jonathan Tudor (Centrica) Part 1 appeared first on Global Venturing Review.
The Big Ones Waymo began life in Alphabet’s secretive Google X division but has now fully emerged as a standalone company, securing $2.25bn from investors including AutoNation, Magna International and Alphabet itself – an amount it said only represents the initial close of its first external round. No official word on valuation but Morgan Stanley … Continue reading "09 March 2020 – Waymo Secures $2.25bn in Initial Close of First External Round"
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James Mawson interviews Ippei Akiyoshi from Mitsubishi. The first in a series of interviews. Recorded remotely. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 The post Leadership Series: Ippei Akiyoshi (Mitsubishi) appeared first on Global Venturing Review.
The Big Ones There may be fewer rounds being closed but ride hailing continues to be a money magnet, with Grab raising $856m from Mitsubishi UFJ Financial Group – which invested $706m – and TIS, both investing through newly struck partnership deals that will centre on the joint development of payment and financial services technology. … Continue reading "02 March 2020 – Grab Raises $856m from Mitsubishi UFJ Financial Group"
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The Big Ones Grab had raised $4.8bn for its series H round as of mid-2019 but did not confirm a close for the round. Now however, the on-demand ride provider is set to raise approximately $714m from Mitsubishi UFJ Financial Group as part of a venture where the two will collaborate on a lending and … Continue reading "24 February 2020 – Imara to Raise Up To $86.3m in its IPO"
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The Big News It’s been a good week for healthcare flotations, with Revolution Medicines following in the footsteps of successful IPO closures by Schrödinger and Beam Therapeutics by going public in a $238m offering that represented an increase in size of almost 50% from when it first set the range earlier this month. The precision oncology therapy … Continue reading "17 February 2020 – Revolution Medicines Goes Public in $238m Offering"
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The Big Ones Sequoia Capital Global Equities has led a $340m round for cloud security platform developer Netskope at a valuation of near $3bn. Netskope has now raised $740m altogether from investors including Dell Technologies Capital. Given the propensity of cybersecurity companies to be acquired, the unit – which has already scored exits from Packet … Continue reading "10 February 2020 – Netskope Gains $340m in Round Led By Sequoia Capital Global Equities"
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The Big News The US government’s effort to change the regulatory landscape for venture capital is coming to a head with this week’s sold-out Global Corporate Venturing and Innovation Summit in California. Investment banks could face more relaxed restrictions concerning investments in venture capital funds from the Federal Reserve and other watchdogs under proposals expected … Continue reading "03 February 2020 – Corporate Venturing and Innovation Summit Roundup"
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The Big Ones Tokopedia is already one of the biggest companies to have emerged from Southeast Asia’s increasingly vibrant startup scene, but it is reportedly approaching the close of a $1.5bn round that would include existing investors SoftBank and Alibaba. The round is set to value the e-commerce marketplace at $8bn to $9bn and be … Continue reading "27 January 2020 – Tokopedia Approaches Close of $1.5bn Round"
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The Big Ones Joby Aviation is developing an electric-powered aerial taxi for urban use, a product that would appear to be a big jump into the future even without taking into account sustainability issues concerning its stated aim to serve ‘a billion’ people a day. But corporate investors are taking it seriously and none more … Continue reading "20 January 2020 – Joby Aviation Raises $590m in Series C to Create Flying Taxis"
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The Big Ones Zomato has kicked off its next funding round, expected to reach $500m, by raising $150m from existing investor Ant Financial at a $3bn valuation. The cash will help it in its ongoing battle against domestic rival Swiggy for supremacy in India’s online food ordering sector. SoftBank Vision Fund has reportedly pulled out … Continue reading "13 January 2020 – Ant Financial Backs Zomato with $150m at a $3bn Valuation"
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The Big Ones India-based eyewear e-commerce platform Lenskart has been growing steadily in recent years, expanding its retail footprint to more than 530 stores and further commercialising its own brand. That work has been reflected in a $231m investment by SoftBank Vision Fund, made at a $1.5bn valuation – more than three times its reported … Continue reading "23 December 2019 – SoftBank invests $231m in Lenskart at $1.5bn Valuation"
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Funds Petronas has officially launched Piva, a growth-stage vehicle that will target developers of energy, industrial and materials applications in North America and Europe. The fund is equipped with $250m of capital and will be overseen by Petronas Corporate Venture Capital, the larger, more generalised unit that was launched by the corporate in October. Telkom Indonesia and … Continue reading "16 December 2019 – Petronas Launches Piva with $250m in Capital"
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Big Deals It’s edging towards the end of the year but Kuaishou is lining up one of 2019’s largest rounds, having reportedly secured $2bn from Tencent as part of a series F round it plans to formally close at $3bn in the coming weeks. The round will value the short-form video platform at $28.6bn and … Continue reading "09 December 2019 – Kuaishou Lining Up One of 2019’s Largest Rounds"
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The Big Ones SoftBank Vision Fund is putting up $807m to lead a $1.5bn funding round for one of its most notable portfolio companies, India-based short term accommodation platform Oyo. The round values Oyo at $10bn and the extra cash will fund expansion in the US, a prime market in the company’s ongoing international expansion. … Continue reading "02 December 2019 – SoftBank Leads Oyo’s $1.5bn Funding Round"
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The Big Ones And what better way to get back into the swing of things than with SoftBank, which has reportedly reached a first close for Vision Fund II. Although it secured nearly $100bn for the first fund and has received $108bn in MOUs for the new vehicle, sources told Bloomberg it has so far … Continue reading "25 November 2019 – SoftBank Reportedly Reaches Vision Fund II First Close"
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The Big Ones Chevron Technology Ventures has thrown its weight behind US-based geospatial software technology provider Orbital Insight, which also welcomed back GV and Sky Perfect JSAT. Softbank over the past few years has tended to skew the numbers and so it’s significant to hear the group has quietly completed a first close on its second Vision … Continue reading "18 November 2019 – Orbital Insight Enters $50m Series D"
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The Big Ones Marianne Wu, president of GE Ventures, has left the corporate venturing unit as the US-listed industrial conglomerate has agreed to sell 16 healthcare portfolio companies to an affiliate of Leerink Revelation Partners. Over the past few years, China has – partially out of necessity – been responsible for a lot of healthcare … Continue reading "11 November 2019 – Marianne Wu Moves On From GE Ventures"
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The Big Ones Greensill, a UK-based company that taps the capital markets in order to provide working capital for businesses, received one of this year’s biggest investments in May when it secured $800m from SoftBank Vision Fund. Now it’s added a further $655m from the same investor at a valuation reportedly nearing $4bn. Singapore-based venture … Continue reading "04 November 2019 – Greensill Raises $655m from SoftBank"
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The Big Ones SoftBank COO Marcelo Claure revealed on Thursday that it has committed a total of $18.5bn in debt and equity financing to WeWork owner We Company. It comes after SoftBank, on Tuesday, confirmed details of a $9.5bn rescue package for We Company that includes a $3bn tender offer which will allow earlier investors … Continue reading "28 October 2019 – We Company Gains $18.5bn in Debt and Equity Funding"
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The Big Ones The latest twist in the We Company/WeWork saga is that SoftBank, the largest shareholder in the workspace operator and also the investor that provided most of its late-stage funding, is preparing a restructuring deal that will involve it acquiring a majority stake while ensuring it has enough money to make it through … Continue reading "21 October 2019 – SoftBank Prepares We Company Restructuring Deal"
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The Big Ones Short-term accommodation platform Oyo is reportedly in the process of raising $1.5bn in series F funding at a $10bn valuation. Existing investor SoftBank is also set to take part in the round but the big news is that Oyo co-founder and CEO Ritesh Agarwal plans to put up a whopping $700m of … Continue reading "14 October 2019 – Oyo in $1.5bn Series F Round"
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We Co, otherwise known as WeWork, formally pulled its initial public offering last week, putting a cap on what will go down as one of the most disastrous attempts to go public in recent memory. So what does that mean for corporate venturers? Is the co-working space still viable? Is it still worth betting on … Continue reading "07 October 2019 – We Co Pulls IPO"
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Big Ones Who can remember anything like the We Company (that’s WeWork) saga that’s unfolded over the past fortnight? It had been targeting $3bn to $4bn in an IPO that at one time was expected to exceed the $47bn valuation at which it last raised money. Then people started flagging up bits of the IPO … Continue reading "30 September 2019 – Peloton Interactive Raises $1.16bn in IPO"
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Big Ones We have a lot of IPO news for you this week but let’s talk about We Company for a moment, because no other company has had quite as tough a time of trying to go public (not even Uber’s failure to reach the IPO price for weeks after going public comes close). Really, … Continue reading "23 September 2019 – We Company IPO Issues Ongoing + Telecoms Sector Webinar"
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Big Ones Byton is one of several smart electric vehicle developers emerging from China, and it is in the process of adding investors to a round already featuring automotive manufacturer FAW as it seeks a $500m close. The company is focusing on electric SUVs, the first of which is slated to go on commercial sale … Continue reading "16 September 2019 – Byton Seeks $500m Close"
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Deals Sumitomo Dainippon Pharma is acquiring a stake in medical company builder Roivant that will be at least 10%, as part of a $3bn deal that will involve it also taking Roivant’s stake in five subsidiaries. Despite being responsible for unicorns DraftKings and FanDuel, daily fantasy sports has run into a string of regulatory issues in the … Continue reading "09 September 2019 – Nikola Corporation Raises $250m"
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The Big Ones Enterprise analytics platform developer ThoughtSpot has closed a $248m round that valued it at $1.95bn, though existing corporate investors HPE and Capital One do not seem to have participated. Megvii is one of the two key players in China’s ever increasing – and ominous – facial recognition technology sector (the other being … Continue reading "02 September 2019 – ThoughtSpot Closes $248m Round"
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Exits Uhuru to connect to UK’s public markets Pfizer spinoff Springworks is developing drug treatments for rare forms of cancer, and has filed to raise up to $115m in an initial public offering that would also allow GlaxoSmithKline to exit. Medical research tool developer 10x Genomics has already reached unicorn status, having closed a SoftBank-backed series D … Continue reading "26 August 2019 – Uhuru Plans to File for an IPO"
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Big Ones Zhihu is often referred to as China’s answer to Quora, but its services extend beyond an online community Q+A service to areas like online publishing and livestreamed sessions with experts. It’s just raised $434m at a reported $3.5bn valuation. Livestreaming service Kuaishou led the series F round, which included fellow strategic partner Baidu … Continue reading "19 August 2019 – Zhihu Raises $434m at $3.5bn Valuation"
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Big Ones SoftBank Vision Fund recently announced that it has secured memoranda of understanding for $108bn in capital for its second investment vehicle, and SoftBank CEO Masayoshi Son has now said it will begin investing as soon as next month. Didi Chuxing is spinning off its autonomous driving division and will likely seek funding at … Continue reading "12 August 2019 – Didi Chuxing Spins Off Autonomous Driving Division"
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Big ones MyBank was formed by Ant Financial and Fosun in 2015, and now the big data and AI-enhanced online lending platform is reportedly seeking about $870m in a round that could include both corporates at a $3.5bn valuation. Its other existing investors include Wanxiang, a contributor to the $644m the company received at the … Continue reading "05 August 2019 – MyBank Seeks $870m at $3.5bn Valuation"
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Big ones SoftBank confirmed on Friday morning that it has secured a total of $108bn for its second Vision Fund, providing $38bn of the cash itself. That’s slightly less than the $50bn rumoured earlier in the week, but still a significant increase on the $28bn the telco giant put into the first fund. Short-term accommodation … Continue reading "29 July 2019 – SoftBank Secures $108bn for Second Vision Fund"
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The Big Ones Chinese social commerce platform Xiaohongshu was valued at more than $3bn when it last raised money a year ago, and has reportedly now entered talks with prospective investors including SoftBank’s Vision Fund for a series E round with a $500m target. E.ventures has been one of Germany’s most successful venture capital investors … Continue reading "08 July 2019 – India-based ReNew Power Exploring IPO"
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Big Ones Southeast Asian ride hailing service Grab has boosted an already swelling series H round to $4.8bn, taking in $300m from investment management firm Invesco. Deutsche Telekom Capital Partners was launched by its parent company nearly five years ago, and has now formed a $350m second venture and growth capital fund. Who says the … Continue reading "01 July 2019 – Grab Boosts Series H Round to $4.8bn"
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The Big Ones Wealth management platform Paytm Money’s only funding so far has been a $10m investment by parent company One97 Communications, but it is said to be preparing a round that could be up to $1.2bn in size that will include SoftBank and Ant Financial. Slack finally went public on Thursday in a direct … Continue reading "24 June 2019 – Slack Goes Public with $19.5bn Valuation"
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A fascinating feature for you courtesy of Tony Askew, co-founder and partner of REV Venture Partners, who spoke with Global Corporate Venturing about how the media industry has evolved since the corporate venturing unit was launched in 2000. Insights provided by Askew included how its co-investments with In-Q-Tel have helped the unit, while he also explained the … Continue reading "17 June 2019 – GE Ventures to Sell its Portfolio"
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The Big Ones JD.com has agreed to lead a round for electronics recycler Aihuishou that will be more than $500m in size. The deal will also involve JD.com, an investor in the company since at least 2015, merging its second-hand e-commerce subsidiary, Paipai, with Aihuishou. Google has agreed to purchase data analytics software provider Looker … Continue reading "10 June 2019 – Google Agrees $2.6bn Acquisition of Looker"
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Big Ones Right now it feels like we’re gearing up for another period of significant funding, if the rumour mill is anything to go by. Mobile payment platform PhonePe was acquired by Flipkart in 2016, the year after it was founded, but could now be spun back out in a round that could reportedly reach … Continue reading "03 June 2019 – Possible PhonePe Spinout from Flipkart in $1bn Deal"
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Thanks to everyone who came to the Global Corporate Venturing Symposium this past week. We are entering an “age of turbulence” – the theme for this month’s GCV Symposium at London’s County Hall. Whether caused by eventual economic downturn, protectionism or regulatory concerns over the impact of technology-led disruption, the headwinds for those providing innovation … Continue reading "27 May 2019 – Age of Turbulence"
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The Big Ones JD.com has agreed to take in series A funding from CICC Capital, Baring Private Equity Asia and CPEChina Fund that is expected to total more than $1bn, for healthcare services subsidiary JD Health. Not the week’s biggest fund in terms of numbers, but an intriguing one nonetheless: Telkomsel, the mobile network subsidiary … Continue reading "20 May 2019 – JD Health Agrees Series A Funding Suspected to Total More Than $1bn"
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The Big Ones Uber has finally gone public, raising $8.1bn in an IPO that allowed SoftBank Vision Fund to retain its position as largest shareholder while selling $249m of shares. The company priced its shares toward the lower end of the range, and so fell well short of early reports suggesting it could be valued … Continue reading "13 May 2019 – Uber Raises $8.1bn in IPO"
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The Big 3 Colombia-based on-demand delivery service Rappi has raised a total of $1bn from two SoftBank vehicles: the $5bn Innovation Fund managed by company COO Marcelo Claure, and its $98.6bn Vision Fund. Beyond Meat has had quite a week, first upgrading the range for its IPO and then floating at the top of the … Continue reading "06 May 2019 – Rappi Raises $1bn from Two SoftBank Vehicles"
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The Big 3 Uber has set terms for an IPO that will raise $9bn if it floats at the top of its range. SoftBank is among the selling shareholders, though it will remain the largest shareholder in the on-demand ride provider. Uber has also confirmed its autonomous driving division, otherwise known as Uber Advanced Technologies … Continue reading "29 April 2019 – Uber Sets Terms for $9bn IPO"
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The Big 3 Innogy Innovation Hub was formed in 2014 and its first fund was supplied with €300m (roughly $385m at that point) from Innogy, but it has told GCV that it is getting ready to raise a second fund and is exploring partnerships with additional corporate LPs from the energy sector as well as potentially outside. … Continue reading "22 April 2019 – Pinterest and Zoom both Float Above Their Ranges"
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Big ones As you all surely know by now, Uber filed for its long awaited initial public offering on Thursday, confirming that its largest investor is SoftBank Vision Fund, which owns more than 16% of its shares, while Alphabet, which has increasingly been rivalling the ride hailing company in the autonomous driving technology space, holds … Continue reading "15 April 2019 – Uber Files for IPO"
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The Big Three The fresh capital, anchored by University of Cambridge and its Endowment Fund, will enable patient capital-orientated vehicle Cambridge Innovation Capital to make new bets and sustain investments in its existing portfolio. Delighted Tony Raven joining us to share more at the Symposium as well as his peers at Oxford university. Intel Capital … Continue reading "08 April 2019 – Cambridge Innovation Capital Collates $196m in New Capital"
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The Big Three Uber has confirmed it will acquire Careem, its biggest rival in the Middle Eastern market, for $1.4bn in cash and $1.7bn in convertible notes. The price will mark a significant uptick on the reported $2bn valuation at which Careem last raised money, and a lot more than that for Saudi Telecom, which supplied … Continue reading "01 April 2019 – Uber to Acquire Careem for $1.4bn"
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The Big Ones The week kicked off with a long-awaited big one: on-demand ride provider Lyft set the terms for its IPO on Monday and is set to raise between $1.9bn and $2.1bn in an offering that will potentially value it at almost $23bn. A consortium including Suning, Tencent, Alibaba Chongqing Changan Automobile, Dongfeng Motor … Continue reading "25 March 2019 – Lyft Set to Raise $1.9 – $2.1bn in IPO"
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The Big Ones Uber is lining up at least $1bn in external capital for its autonomous car division. SoftBank Vision Fund and Toyota, both of which are already investors in Uber itself, are among the consortium that is in advanced talks to supply the cash. Uber is reportedly seeking a $5bn to $10bn valuation in … Continue reading "18 March 2019 – Uber Lines Up $1bn in External Capital"
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The big ones SoftBank, SoftBank, SoftBank. It feels like that’s all we’re talking about on this podcast, and that shows no sign of stopping, as the telecoms and internet group has taken the wrapper off a $5bn vehicle dubbed SoftBank Innovation Fund which will focus on Latin American deals. After all these years, ride hailing … Continue reading "11 March 2019 – SoftBank Announces $5bn Latin America SoftBank Innovation Fund"
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Big 3 Charles Conn and Patrick Pichette will join Oxford Sciences Innovation to become chief executive and chairman, respectively, with founder Dave Norwood retiring. Honda, Panasonic and Omron are among the limited partners of NordicNinja VC’s inaugural fund, which will focus on deep tech and help northern European startups expand into Asia. Novartis has joined … Continue reading "04 March 2019 – Honda, Panasonic and Omron Become Limited Partners in NordicNinja VC’s First Fund"
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Big stories Reports earlier in the week claimed some of the LPs in SoftBank Vision Fund have concerns about its centralised decision making and the high prices it has paid in its investments, but that doesn’t mean it’s slowing down. Vision Fund has led a $1bn round for shipping marketplace Flexport at a $3.2bn valuation, … Continue reading "25 February 2019 – LPs Express Concern in SoftBank Vision Fund"
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Big 3 Mitsubishi Corporation has paid $256m for a 20% stake in energy retailer and smart systems provider Ovo Energy, which plans to use the funding as the basis for an expansion from Germany and its home country of the UK into markets such as France, Australia and Spain. Ovo’s investors also include Mayfair Equity Partners, which … Continue reading "18 February 2019 – Mitsubishi Takes 20% Ovo Energy Stake for $256m"
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Big Three General Electric’s corporate venturing unit is launching a content portal called Flux to help companies overcome barriers to diversity and inclusiveness. In game-industry deal-making, there’s Tencent, then there’s everyone else. As a sign of both financial muscle and the need to expand beyond core markets given the effective closing of the Chinese market … Continue reading "11 February 2019 – Tencent and the Gaming Industry"
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The big 3 For all the talk about the big numbers of 2018 – Global Corporate Venturing tracked 2,775 deals worth an estimated total of $180bn, the details of which you can find in the January issue out and the World of Corporate Venturing annual review published at the GCVI Summit at the end of the month … Continue reading "28 January 2019 – Stanford StartX Fund Comes to an End"
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The big ones Image recognition software provider SenseTime raised a total of $1.7bn in the year running up to May 2018, and news has emerged that it’s preparing a new round with a target of $2bn. Slack has been mooted as one of 2019’s likeliest IPO candidates for months now, but it’s reportedly looking to … Continue reading "21 January 2019 – SenseTime Prepares for $2bn Round"
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The big ones Reports in late 2018 suggested SoftBank Vision Fund was planning to invest between $15bn and $20bn in order to take a majority stake in portfolio company WeWork, but sources have told the FT that after the fund’s LPs balked at the idea (though a separate report said Masayoshi Son decided to pull … Continue reading "14 January 2019 – CloudEndure Acquired by Amazon"
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Three biggest stories In this week’s biggest deal, pharmaceutical firm Bristol-Myers Squibb has agreed to acquire peer Celgene in a buyout made up of cash and shares that will create a $74bn business. Singapore-based on-demand ride service Grab has increased the potential size of a series H round already backed by several corporate investors to … Continue reading "07 January 2019 – Bristol-Myers Squibb Agrees Celgene Acquisition"
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Deals Grab has boosted its latest round to $2.85bn, taking in $150m from Yamaha Motor through a strategic partnership agreement. Indonesian online marketplace Tokopedia has confirmed it has secured $1.1bn in a round led by Alibaba and SoftBank Vision Fund, with contributions from SoftBank Ventures Korea and unnamed existing backers. Facial recognition technology provider Megvii … Continue reading "17 December 2018 – Grab Reaches $2.85bn in Latest Round"
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Covering the week’s venturing news including funding, investments, exits and people moves. This week’s episode includes: Fund news from SK China and Michelin, deal news from Altria and Getty Images, and exit news featuring Tuanche and Moderna Therapeutics, plus much more. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
The post 03 December 2018 – ChargePoint Charges Up with $240m Series H Round appeared first on Global Venturing Review.
Deals SoftBank invested $1bn in online marketplace Coupang three years ago, and has returned to provide another $2bn in funding through its Vision Fund at a $9bn valuation. South Korea-based Coupang expects to generate about $5bn in revenue this year and will use the funding to upgrade its end-to-end fulfilment system and add new features … Continue reading "26 November 2018 – Coupang Gains Second SoftBank Investment"
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Deals Last month Alibaba formally merged Ele.me, the food listings and delivery platform it acquired in April, with Koubei, its local services spinout which raised $1.1bn in early 2017. There were reports at the time suggesting it would source $3bn of funding for the entity, but it turns out it has actually raised $4bn from investors including … Continue reading "19 November 2018 – In-Q-Tel Opens First International Offices"
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Deals Game studio Epic Games has had some very notable successes including the Unreal and Gears of War series, but it’s entered the mainstream in a huge way over the past year with Fortnite, a game that passed the $1bn revenue mark in 10 months. It’s also raised $1.25bn in a round that included a … Continue reading "05 November 2018 – Game Studio Epic Games Raises $1.25bn"
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Deals Bytedance has agreed to raise $3bn in funding from investors including SoftBank at a $75bn valuation that will make it the most valuable independent VC-backed company in the world. Manbang, the trucking services marketplace also known as Full Truck Alliance, is reportedly in advanced discussions with Tencent and SoftBank over a $1bn round that … Continue reading "29 October 2018 – Bytedance Raises $3bn at $75bn Valuation"
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Deals Alibaba has confirmed the merger of Ele.me, the food delivery service it acquired in April, with Koubei, the local services platform it launched in 2015 and spun off two years later. The deal will be bolstered by $3bn of funding from Alibaba and SoftBank, and the newly formed entity will be going head to … Continue reading "22 October 2018 – Alibaba Confirms Ele.me and Koubei Merger"
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Funds SoftBank has for a few months discussed its intentions to launch a second $100bn Vision Fund, and it will have received a hefty incentive with news that Saudi Arabia’s Public Investment Fund intends to put up $45bn for the new fund. Foxconn has formed a $545m investment fund that will invest in semiconductor ventures including the launch … Continue reading "15 October 2018 – Saudi Arabia’s Public Investment Fund Invests $45bn in SoftBank’s Second Vision Fund"
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Deals Southeast Asian ride hailing platform Grab closed $2bn in funding just two months ago, but Reuters has reported that it’s looking to raise another $1bn, and that SoftBank is close to putting up half the funding. SoftBank Vision Fund has also initiated talks to invest $500m in China-based online educational assistance platform Zuoyebang. Traveloka, … Continue reading "08 October 2018 – Grab Looking To Raise Another $1bn"
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Deals Reports that China-based digital media company ByteDance was seeking funding at a $75bn valuation emerged a few weeks back, but now they’ve been fleshed out with news that it is in talks with SoftBank, which could provide $1.5bn of a $3bn round that also looks set to include KKR and General Atlantic. Another Indian … Continue reading "01 October 2018 – ByteDance in Funding Talks with SoftBank"
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Exits Uber is already in talks to acquire Middle Eastern rival Careem and has now reportedly in negotiations to buy food delivery service Deliveroo. The price would need to be “considerably” higher than the $2bn valuation at which Deliveroo last raised money, but the transaction would give a nice exit to NGP Capital, the venture firm … Continue reading "24 September 2018 – Uber in Talks to Acquire Rival Careem"
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Deals Banma, the smart car producer formed by carmaker SAIC and e-commerce group Alibaba, has completed a $2.3bn funding round that included SAIC investment vehicle Shangqi Capital. Restaurant listings platform Zomato is in the process of expanding into food delivery and is raising some $400m to do so. Online travel agency Ctrip is reportedly in talks … Continue reading "17 September 2018 – Smart Car Producer Banma Completes $2.3bn Funding Round"
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Deals Used vehicle marketplace Souche has attracted $578m in series F capital from investors including Alibaba, Sunshine Insurance Group and CreditEase. The round has brought Souche’s total funding to more than $1.2bn, with Alibaba having also backed a $335m series E in November 2017 and Ant Financial having led a $100m series C in 2016. … Continue reading "10 September 2018 – Used Vehicle Marketplace Souche Raises $578m"
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Deals Uber has reaffirmed its partnership with Toyota, extending a pre-existing deal to include the development of an autonomous car-based ride hailing service, with Toyota investing $500m at a $72bn valuation as part of the deal. Berkshire Hathaway has invested in One97 Communications, the Indian owner of financial services platform Paytm and e-commerce marketplace Paytm Mall. SoftBank Vision … Continue reading "03 September 2018 – Uber Reaffirms Toyota Partnership"
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Exits Walmart has completed its $16bn acquisition of a 77% stake in Indian e-commerce marketplace Flipkart, as part of an ongoing drive into e-commerce that has involved investments in JD.com and Dada-JD Daojia and full acquisitions of Jet.com and Bonobos among others. China-based immunotherapy developer I-Mab Biopharma raised $220m just a few weeks ago in … Continue reading "27 August 2018 – Walmart Completes $16bn 77% Acquisition of Flipkart"
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Deals With much of the western VC industry seemingly on summer holiday (and frankly, who can blame them?), it’s up to China to pick up the slack in corporate venturing. Ximalaya, the operator of a streaming platform for radio shows and podcasts, has secured $580m in a Tencent-backed round that reportedly valued it at about … Continue reading "20 August 2018 – Podcast and Radio Streaming Service Ximalaya Secures $580m"
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Deals Alibaba spun off its local services platform, Koubei, with a $1.1bn round at the start of last year, and acquired food delivery service Ele.me in April 2018 at a $4.5bn valuation. Now the e-commerce firm plans to merge the two in a deal that could be supported with a $3bn to $5bn round that … Continue reading "13 August 2018 – Alibaba Plans to Merge Koubei and Ele.me"
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Deals Grab has been on a tear in the last year, raising $2.5bn from SoftBank, Didi Chuxing, Toyota and Hyundai a year ago, before Toyota invested a further $1bn in June this year. That Toyota funding has now been doubled to make a $2bn round, the new cash coming from backers including corporate funds Ping … Continue reading "06 August 2018 – $585m Series B+ Round for Xiaopeng Motors"
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With Facebook and Netflix stumbling without recognised corporate venturing units, it has been interesting to see the other big four US internet companies, Microsoft, Amazon, Alphabet and Apple, with powerful CVC investments report or predict strong results. Alphabet was the most clear-cut as it reported better-than-expected second-quarter earnings last Monday, driving Alphabet shares to a new … Continue reading "30 July 2018 – Alphabet Shares Hit All-time High"
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Funds Petrochemical group Sinopec is committing approximately $1.5bn to an investment firm that will back technologies in areas such as intelligent manufacturing, new materials and energy. BlackFin directs fintech fund to $210m close Cyberdyne assembles corporate venturing fund The Motley Fool launches $100m fund Anglo American Platinum has been an occasional VC investor but is now transferring … Continue reading "23 July 2018 – First Half of 2018 Sets Up Record-breaking Spree for University-linked Deals"
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Funds Telecommunications company Swisscom has run its corporate venturing unit, Swisscom Ventures, since 2005 but has constantly looked to fine-tune its approach. Its latest move is to access external investment, for a fund sized at about $200m. Swisscom is putting in about 25% of the capital for Digital Transformation Fund, which will invest in Europe, the … Continue reading "16 July 2018 – Swisscom Venture to Set Up $200m Digital Transformation Fund"
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Funds Telstra Ventures has had some big exits in the past four years including IPOs for Snap, DocuSign and Box, but the unit is now electing to reshape itself by forming a partnership with private equity firm HarbourVest that will create a $500m investment vehicle. Malaysia-based conglomerate Sunway is raising $50m for a venture capital vehicle called Sun … Continue reading "09 July 2018 – Telstra Ventures Partners HarbourVest to Create Investment Vehicle"
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Exits AT&T has agreed an acquisition of AppNexus reported to be priced around the $1.6bn mark, enabling WPP, Microsoft, News Corp and Deutsche Telekom to exit. PayPal sinks $120m into Simility acquisition University TTTech sells stake to B&C Xiaomi’s IPO has been a long, hard slog for the company. It had originally aimed to raise $10bn in … Continue reading "02 July 2018 – AT&T Agrees Acquisition of AppNexus"
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Deals Showing that China’s online education sector continues to grow, VIPkid has raised $500m in a series D+ round that reportedly valued it at more than $3bn. Restaurant listings and reviews platform Zomato is beginning to expand into delivery services, and is also in talks with existing investors Ant Financial and Temasek to raise $400m … Continue reading "25 June 2018 – Following Merger AT&T Begins Talks to Acquire AppNexus"
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Covering the week’s venturing news including funding, investments, exits and people moves. This week’s episode includes: Fund news from Bayer and Samsung Next, deal news from WeWork and Grab, and exit news featuring Splunk and Adaptive Insights, plus much more. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
The post 18 June 2018 – Toyota Adds $1bn to Grab appeared first on Global Venturing Review.
The European Commission has today released its draft budget for its next financial period to start after 2020 with its draft plans for about $100bn for innovation funding (nice analysis by Science Business here). Deals Last month, Ant Financial was reported to have closed a jaw-dropping $10bn funding round at a $150bn that would have … Continue reading "11 June 2018 – Ant Financial Raises $14bn not $10bn"
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Deals Despite the short week, Ant Financial has really been rather busy, and has reportedly now sealed a $10bn funding round led by GIC, the sovereign wealth fund of Singapore, that valued it at $150bn, which also makes this, by far, the biggest deal on the government side. To give you an idea of scale, … Continue reading "04 June 2018 – Vision Fund Backs Cruise With Up To $2.25bn"
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We are back from the annual GCV Symposium and GUV: Fusion conferences, our London events bringing together CVCs and university tech transfer leaders from around the world. Some 500 delegates gathered at the County Hall in a packed room overlooking the Houses of Parliament to network and exchange ideas. GUV also handed out its awards … Continue reading "28 May 2018 – Ant Financial’s Latest Round Pegged at $10bn"
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Deals Last week’s Big Deal on Global Corporate Venturing looked at a reported $800m in funding raised by NewTV, a stealthy video content producer formed by entertainment mogul Jeffrey Katzenberg that has secured corporates such as 21st Century Fox and Warner Bros as investors. Reports earlier this year suggested Chinese smart car developer Byton was … Continue reading "21 May 2018 – NewTV Raises $800m in Funding"
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Deals Online medical booking and healthcare services portal WeDoctor has raised $500m at a $5.5bn valuation, securing the cash in a round co-led by insurer AIA, which is now the company’s life and health insurance partner, and conglomerate NWS Holdings. Commission-free online trading platform Robinhood is on a tear, having raised $363m in a series … Continue reading "14 May 2018 – China About to Finalise $47bn Semiconductor and Chip Investment Fund"
The post 14 May 2018 – China About to Finalise $47bn Semiconductor and Chip Investment Fund appeared first on Global Venturing Review.
Deals Baidu has spun off the likes of Baidu Video and Zuoyebang in recent years, and video streaming platform iQiyi, in which Baidu owned a majority stake, raised $2.25bn in an IPO in March. The latest deal involves the corporate’s financial services subsidiary, Du Xiaoman, which has raised $1.9bn from investors including Taikang, $1bn of … Continue reading "07 May 2018 – Tencent Leads $820m Series C for UBTech"
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Deals Ant Financial, Alibaba’s financial services arm, is on its way to becoming the most valuable private VC-backed company ever, having reportedly lined up $3bn in a round that is backed by Singapore state-owned investment firm Temasek and is expected to close at between $8bn to $9bn at a $150bn valuation, almost doubling the previous … Continue reading "16 April 2018 – Ant Financial Reportedly Targeting $150bn Valuation"
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Which camp are you in? In China, it seems, there is Alibaba and there is Tencent. Alibaba and Tencent account for 40% to 50% of venture capital flows in mainland China, according to data from McKinsey quoted by news provider Financial Times*. Their approaches, however, seem slightly different at the operational level in how they engage … Continue reading "09 April 2018 – Management Approaches to Portfolio"
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Deals Alibaba has provided another $2bn for Lazada, the Southeast Asian e-commerce marketplace it had already invested $2bn in as of June last year. India-based Oyo Rooms may be the next online services provider to benefit from SoftBank’s largesse, having reportedly entered talks with the corporate, and two unnamed new investors, for a round that … Continue reading "26 March 2018 – Sir Li Ka-shing to Retire from Two Businesses"
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Deals Big-box retailer Walmart has entered discussions to invest roughly $7bn in India-based e-commerce company Flipkart at a valuation of about $20bn, Bloomberg reported on Friday, citing people familiar with the matter. JD.com’s financial services spinout, JD Finance, has entered talks with China National Cereals, Oils and Foodstuffs Corporation to lead a $2bn funding round … Continue reading "19 March 2018 – Walmart Discusses Investing $7bn in Flipkart"
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Deals In last week’s Big Deal on GCV, news editor Robert Lavine looked at DoorDash, which just got its first corporate investment in a $535m series D round led by SoftBank, almost doubling its valuation in roughly two years. Augmented reality technology developer Magic Leap has to be one of the most well-funded companies to … Continue reading "12 March 2018 – Magic Leap Increases Series D to $963m"
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Deals Internet group Tencent has led an $818m series C round for China-based automotive e-commerce platform Chehaoduo. Shougang Fund, an investment branch of steelmaker Shougang, and ICBC International, a subsidiary of Industrial and Commercial Bank of China, also took part in the round. Telecommunications and internet group SoftBank has led a $535m series D round … Continue reading "05 March 2018 – Dropbox Files for $500m IPO"
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Deals Chinese furniture and home improvement retail chain EasyHome has raised just over $2bn in a round in which Alibaba invested approximately $860m in return for a 15% stake. Uber could acquire what sources told CNBC would be a sizeable stake in Southeast Asian counterpart Grab through a deal that will involve Grab taking on … Continue reading "26 February 2018 – EasyHome Raises Over $2bn"
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Funds NVP, the Wells Fargo-backed venture firm has closed its largest ever fund, having secured $1.5bn to invest from seed to late stage. The mobile advertising platform Calldorado App Growth Fund will provide marketing funds for app developers using its software. Exits Pharmaceutical firm Roche agreed yesterday to acquire cancer research technology provider and portfolio … Continue reading "19 February 2018 – Wells Fargo-backed Venture Firm NVP Closes $1.5bn Fund"
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Deals Ant Financial, e-commerce group Alibaba’s financial services affiliate, is reportedly preparing to raise $5bn in funding in a round that will value it at betwen $80bn and $100bn, making it the most valuable VC-backed private company of all time. Go-Jek has been raising a $1.2bn round over the past six months that already includes … Continue reading "12 February 2018 – Ant Financial in Potential $5bn Funding Round"
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Deals Ping An Insurance is on a roll. At the end of November, the insurance provider was gearing up for a $1bn IPO of Ping An Good Doctor, and now it has raised nearly $1bn for its medical data collection and analysis subsidiary Ping An Healthcare Management at a $8.8bn valuation. Tencent continues to go … Continue reading "29 January 2018 – Ping An Insurance On a Roll"
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Deals Alibaba has reportedly bought $3bn in shares of bicycle rental platform Ofo from venture firm GSR Ventures at a $10bn valuation, according to reports in China that cite comments made by a relative of GSR managing director Allen Zhu. E-commerce firm JD.com is looking to raise $2bn for its logistics services spinoff, JD Logstics, … Continue reading "22 January 2018 – Alibaba Buys $3bn in Shares of Ofo"
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Deals Grab has added Hyundai to a series G round that already includes SoftBank, Didi Chuxing and Toyota which the ride hailing platform aims to close at $2.5bn. Educational services provider TAL Education has joined investment firm Tiger Management to invest $100m in DadaABC, which provides one-on-one online English lessons to a customer base sized … Continue reading "15 January 2018 – Grab Aims for $2.5bn Series G Deal"
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Deals WP Engine, a provider of digital experience software for online publishing platform WordPress, has raised $250m in funding from Silver Lake. Health data analysis platform SomaLogic has closed its own large round, having raised funds from Nan Fung subsidiary Nan Fung Life Sciences and Madryn Asset Management to increase its latest round to $200m. … Continue reading "08 January 2018 – Kicking Off 2018"
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Deals Days after SpaceX raised $1bn in funding, another satellite technology company, OneWeb, is lining up a $500m investment from SoftBank, which had previously put up $1bn of the $1.2bn OneWeb raised a year ago. . Office software producer Kingsoft spun cloud storage business Kingsoft Cloud out in 2012 but has retained a majority stake … Continue reading "18 December 2017 – OneWeb Follows SpaceX with a $500m Investment"
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Covering the week’s venturing news including funding, investments, exits and people moves. This week’s episode includes: Fund news from Viola and GeneChem and deal news from Neon Therapeutics and Obsidian Therapeutics, plus much more. “Funky Chunk” Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0
The post 11 December 2017 – Obsidian Therapeutics Raises $49.5m appeared first on Global Venturing Review.
Funds Fortino Capital Partners, which has attracted $150m for the first close of its $240m vehicle that will focus on the Benelux countries. Nio Capital, the investment firm launched just under a year ago by electric vehicle manufacturer Nio, Sequoia Capital and Hillhouse Capital, is gearing up for a $500m fund – its first US dollar-dominated fund that will … Continue reading "04 December 2017 – Europe ‘Guarantees’ Research & Innovation Budget"
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Deals Illumina’s cancer diagnostics spinout, Grail, came out of stealth less than two years ago but has raised some big money since. Its series B round has been increased from $973m to $1.2bn according to a securities filing, though there’s been no confirmation as to who joined the round, which already included Tencent, Amazon, Bristol-Myers … Continue reading "27 November 2017 – $1.2bn in Grail’s Series B"
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Deals People have been waiting for SoftBank’s proposed investment in Uber to be confirmed, and it now appears as though it’s happening, after Uber revealed it has come to an agreement with a consortium featuring SoftBank and Dragoneer over a deal. Consumer and information robotics developer UBTech is in the process of raising $400m in … Continue reading "20 November 2017 – SoftBank Uber Investment Finally Happening"
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Deals Nio, the autonomous electric vehicle developer formerly known as NextEV, has raised in excess of $1bn in a Tencent-led round that valued it at about $5bn. Chinese peer-to-peer lender WeLab has accumulated 25 million registered users and claims to have processed some $28bn of loans. It’s also raised $220m in debt and equity financing … Continue reading "13 November 2017 – TransferWise in $280m Big Deal"
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Funds Deep learning technology provider SenseTime is joining one of its investors, asset management firm CDH Investments, to raise a fund that will target investments in artificial intelligence technology developers. Biotech venture firm BioGeneration Ventures has reached an oversubscribed final close of its third fund, having raised $95.5m from limited partners including Bristol-Myers Squibb and … Continue reading "06 November 2017 – SenseTime Sets Up AI Fund"
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Deals Oncology drug developer ADCT has secured $200m in a private placement featuring return investor AstraZeneca, taking its overall funding to $455m. Cybersecurity management software provider Skybox Security has agreed to a $150m investment by CVC Capital Partners and Pantheon. Ninebot raised its first external funding in a Xiaomi-backed round in 2015 and has since pulled in additional capital … Continue reading "30 October 2017 – ADCT Secures $200m Private Placement"
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Deals Online services provider Meituan-Dianping has raised an astonishing $4bn in a funding round led by Tencent at a reported $30bn valuation, putting it just outside the world’s five most valuable VC-backed private companies. Uber and Didi Chuxing may be the fundraising kings in the on-demand ride sector, but Lyft is no slouch. It’s closed … Continue reading "23 October 2017 – $4bn for Online Services Provider Meituan-Dianping"
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Deals Ola confirmed today it has raised $1.1bn in a round led by Tencent, which invested $400m according to recent reports. Tujia, the online accommodation marketplace often referred to as China’s Airbnb, has secured $300m in a round co-led by Ctrip that valued it at more than $1.5bn. SoftBank Vision Fund has done more than … Continue reading "16 October 2017 – Ola Raises $1.1bn in Tencent-led Round"
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Deals Uber’s board of directors has approved an investment by SoftBank of up to $1.25bn, in a deal that will also give the corporate two board seats, and has resolved to launch an IPO by 2019. Indian ride hailing platform Ola has raised $400m from Tencent, reportedly as part of a round also backed by … Continue reading "09 October 2017 – Uber’s Board Approves SoftBank Investment"
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Deals Chinese online services portal Meituan Dianping is reportedly nearing the close of a $3bn round featuring long-term investor Tencent that will value it at up to $30bn. Alibaba has paid approximately $800m to hike its 47% stake in logistics affiliate Cainiao to 51%, as part of a $5bn investment drive to strengthen its logistics … Continue reading "02 October 2017 – Roscosmos Establishes Space Ecosystem Fund"
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Deals Gogoro has developed an electric scooter that it sells alongside access to a network of stations where riders can swap batteries, and it’s raised $300m in a series C round featuring Sumitomo, Engie and Panasonic at a reported valuation of more than $800m. Slack has officially closed a $250m funding round led by SoftBank … Continue reading "25 September 2017 – Gogoro Raises $300m for Electric Scooter with Swappable Batteries"
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Exits All eyes will be on Chinese online property and casualty insurance platform ZhongAn next week as it is lining up a Hong Kong IPO that could net it as much as $1.5bn. Advanced data centre developer and builder Switch is looking at its fifth straight profitable year, and has filed to raise up to $100m on … Continue reading "18 September 2017 – ZhongAn Lines up $1.5bn IPO"
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Exits Johnson & Johnson is celebrating an exit with the acquisition of its portfolio company NeoTract by Teleflex for a total consideration of $1.1bn. Intel Capital also celebrated an exit as its portfolio company StarCash, a digital gift card service, was acquired by fintech company Blackhawk Network for $175m in cash. Madsack hails CleverShuttle Paytm to make … Continue reading "11 September 2017 – Judging Purchase Versus Investment"
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Funds University OSI secures Legal & General backing Imperial gives founders a choice Government Vertex pushes beyond $150m Széchenyi gains $31m St Louis hammers out fund details Exits Dara Khosrowshahi, the new chief executive of Uber, did not waste any time in making clear his ambitions for the ride-sharing company: in an all-hands meeting ahead … Continue reading "04 September 2017 – Expedia CEO Moves to Uber"
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Funds China Life and Baidu combine for $1bn fund SparkLabs sets up $50m Seah-anchored fund Kuppam’s Epsilon anticipates $350m close Government Monash BDI joins MRCF Investments SoftBank ploughs $4.4bn into WeWork VIPKid is the latest participant to close a substantial round, pulling in $200m from investors including Tencent at a reported valuation of more than $1.5bn. Deep … Continue reading "28 August 2017 – VIPKid Closes Round with Reported $1.5bn Valuation"
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We talked a lot about SoftBank’s Vision Fund last week and about how it invested $2.5bn in e-commerce marketplace Flipkart, led a $1.1bn round for life sciences and healthcare technology developer Roivant Sciences and hooked up with its parent company to inject $1bn into sports e-commerce platform Fanatics. But if you want more insight into … Continue reading "21 August 2017 – $1.7bn Chinese EV Investment"
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Deals Flipkart’s prospective acquisition of SoftBank portfolio company Snapdeal may have broken down less than two weeks ago but the corporate has wasted no time coming up with an alternative. It has invested an amount sources told LiveMint is at least $2.5bn in Flipkart. We all marvelled at the size of SoftBank’s Vision Fund but … Continue reading "14 August 2017 – SoftBank/Flipkart Investment Following Acquisition Breakdown"
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Funds The government of the UK revealed it is considering the creation of a National Investment Fund to support startups that could become unicorns. The Canadian government has announced it will make its visa scheme for entrepreneurs a permanent fixture. Singapore-based venture capital firm Prestellar Ventures has raised $100m for a fund that counts Nepal-headquartered … Continue reading "07 August 2017 – Possible UK National Investment Fund"
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Deals Southeast Asian on-demand ride platform Grab confirmed it has raised $2bn in funding from SoftBank and Didi Chuxing, reportedly at a $6bn post-money valuation. And in other SoftBank news, the corporate has reportedly entered talks with bicycle sharing service Ofo to lead a $1bn round that could also include existing investor Didi Chuxing. Co-working … Continue reading "31 July 2017 – The SoftBank Show"
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Deals One of the regional ride hailing platforms backed by SoftBank and Didi Chuxing is Southeast Asia-based Grab, which is reportedly in talks to raise up to $2bn in a round that will feature both. If you read the Big Deal, you’ll know that SoftBank already holds stakes in ride hailing unicorns Didi Chuxing, Ola … Continue reading "24 July 2017 – Those Who Rule Data Will Rule the Entire World"
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Editorial: A Look at Unicorns Funds Toyota’s research division, Toyota Research Institute, has launched a dedicated corporate venturing fund called Toyota AI Ventures that will invest in artificial intelligence as well as robotics, autonomous mobility, data and cloud technology. Partech Ventures, a US-headquartered venture firm with a significant presence in Europe,has closed its seventh VC-stage fund, Partech … Continue reading "17 July 2017 – A Look at Unicorns"
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Editorial: What do people want when the summer is over? Funds AT&T has been relatively quiet while competitors like Verizon, Telstra and SoftBank have made great strides in corporate venturing, but that may be about to change with the formation of a strategic investment fund in which the telecom firm plans to invest up to $200m. Autoliv … Continue reading "10 July 2017 – Looking to the End of Summer"
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Funds Cloudflare, an internet technology provider with its own security products, has launched its own $100m fund. Cybersecurity technology producer Trend Micro has inserted an initial $100m into a newly formed corporate venturing unit that will target disruptive sectors such as the internet-of-things, which its parent company believes will be the next technology mega wave. Corporates boost Cathay … Continue reading "03 July 2017 – The Political Environment and Investment"
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News US looks into regulating Chinese investment PraxisUnico challenges universities to collaborate with industry Funds Juewei and Ele.me to cater to startups Sanovas performs $75m fundraising Corporate-backed 500 Startups Japan scales to $35m Foxconn joins Hardware Club Government Scotland readies $250m in funding The 23 Fund: a new model for growth capital in the world’s … Continue reading "26 June 2017 – Impact Revolution…Led By Entrepreneurs"
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Funds Ping An outlines fintech investment plans Medicxi nabs corporates to close $300m fund Novartis and Alphabet subsidiary Verily were among the limited partners for a the late-stage fund, which will complement the GSK and Johnson & Johnson-backed fund Medicxi closed in 2016. Japan-based ICT equipment provider Nihon Unisys has formed a $45m corporate venturing unit that … Continue reading "19 June 2017 – Ride Hailing Services Grab Deals and Much More"
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Deals Houzz is reportedly nearing the close of a $400m round led by multi-family office Iconiq Capital that will value it at about $400m. Essential, the smartphone startup founded by Andy Rubin, formerly head of Android at Google, has reportedly raised $300m at a valuation somewhere between $900m and $1bn. Pinterest has raised $150m from … Continue reading "12 June 2017 – Essential Houzz Deals and Much More"
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Funds Invenergy announced (just ahead of Trump’s Paris deal pullout) that it will launch a corporate venturing arm aimed at cleantech software companies. Chinese internet company 37 Interactive Entertainment has launched an investment fund together with VC firm Oriental Future Capital. Google is reportedly launching an AI-focused fund that will be led by engineers rather than professional investors. Salesforce breaks … Continue reading "05 June 2017 – Invenergy Launches Cleantech Corporate Venturing Arm and Much More"
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Deals Alibaba and Ant Financial are reportedly set to lead a $1bn round for food ordering platform Ele.me that will value it at up to $6bn. Peloton, the home fitness service that combines a high-tech exercise bike with a subscription-based service that makes it feel like you’re in a live class (within reason obviously, though … Continue reading "29 May 2017 – Home Fitness Service Peloton Raises $325m and Much More"
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Before we dive into this week’s news, here’s a recommendation for a more in-depth look at a recent deal. Naspers has invested more than $420m in online food delivery service Delivery Hero at a $3.1bn flat valuation. Deals SoftBank is carrying on its Indian deal spree, paying $1.4bn for a 20% stake in One97 Communications, … Continue reading "22 May 2017 – Naspers $420m Order for Delivery Hero and Much More"
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Deals The $5.5bn round on-demand ride provider Didi Chuxing just confirmed was closed at a $50bn valuation that means it is closing ground with rival Uber in terms of size, and the company has indicated it will use the cash to finally expand globally. Yixin Group, the online automotive marketplace spinout of motoring e-commerce firm … Continue reading "15 May 2017 – SoftBank Leads Improbable $502m Investment and Much More"
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Cloudera’s $225m initial public offering has been relatively successful so far, with the enterprise big data company floating above its range and seeing its share price rise more than 20% on its first day of trading. I
Deals Didi Chuxing has confirmed $5.5bn of new funding from a consortium that sources told TechCrunch included existing investor SoftBank.
Speaking of big-spending Chinese corporates, Tencent has led a $1.2bn round for Indonesian on-demand ride service Go-Jek at a $3bn post-money valuation.
Baidu’s $3bn corporate venturing arm, Baidu Capital, has made its second investment, co-leading a $156m series B-2 round for Huochebang, the operator of an online platform that links truckers to customers who need freight delivered.
Business optimisation software producer Domo has raised $100m in series D2 financing that will be added to the $330m in series D cash it raised across 2015 and 2016.
Wuxi NextCode, a US-based contract genomics company, raised a $75m series B round co-led by Singapore government-owned investment firm Temasek and private equity firm Yunfeng Capital.
GV has led a $50m series B round for stem cell transplantation technology startup Magenta Therapeutics that included Access Industries and Partners Innovation Fund.
Satellite imaging analysis software developer Orbital Insight has raised $50m in a series C round that also featured GV, whose parent company Alphabet has perhaps been the largest CVC investor in satellite technology over the years.
On GGV, Radiology Partners (RP), a US-based physician-led radiology practice, yesterday closed a $200m funding round co-led by the Future Fund, the sovereign wealth fund of Australia, and VC firm New Enterprise Associates.
On GUV, biopharmaceutical company Sosei Group agreed on Tuesday to pay £35m ($45m) for a 25.6% stake in UK-based RNA therapy developer Mina Therapeutics and an option to buy the company.
France-based biotechnology developer Vivet Therapeutics raised €37.5m ($41m) in series A funding today from investors co-led by Novartis Venture Fund, the investment arm of pharmaceutical firm Novartis, and Columbus Venture Partners.
Funds Xiaomi has had an ongoing drive to build an ecosystem around its smartphones and connected devices, and its latest move has been to join forces with the Chinese province of Hubei’s guidance fund, and the government of Hubei’s largest city, Wuhan, for a fund that could reach $1.7bn in size.
Nor is Xiaomi the only Chinese corporate to put together a 10-figure fund; insurance group Ping An has laid down a statement of intent, committing $1bn to a healthcare and fintech fund, citing an ambition to become an “internationally leading technology investment pioneer”.
Although some corporates in the space, notably JF Shea and Clark Enterprises, have set up CVC arms, the real estate industry has arguably been underserved by venture capital.
French VC firm Elaia Partners has raised $125m for the first close of its fourth fund, Elaia Delta Fund, attracting limited partners including corporates EDF, Nexity, Groupe ADP and MGEN.
Salesforce has unveiled a partner programme to facilitate the development of intelligent apps that can then be sold on its AppExchange marketplace, as well as a $100m fund to invest in startups developing products on its platform.
BDC Capital, the investment arm of government-owned Business Development Bank of Canada, has allocated C$1.8bn ($1.3bn) in funding to invest in growth-stage businesses in Canada.
The Russia government-owned investment vehicle Russian Direct Investment Fund (RDIF) and Japan government-owned export credit agency Japan Bank for International Co-operation (JBIC) are set to launch a joint fund, Global Trade Review reported yesterday.
The government of Singapore is set to launch a S$1bn ($718m) fund to assist businesses with development and overseas expansion as part of an effort to drive economic growth.
Exits Canada-based biopharmaceutical company Zymeworks has raised $58.5m in an initial public offering that gave exits to pharmaceutical firms Celgene, Eli Lilly and EMS.
Home appliance manufacturer Whirlpool Corporation agreed to acquire US-based online recipe repository Yummly for an undisclosed sum, giving exits to chipmaker Intel, media group Bauer and consumer goods producer Unilever.
And Yik Yak, the US-based anonymous social media app that raised $73.5m from backers including social media group Renren, has shut down, bringing to an end a saga that included a meteoric rise on college campuses and was at one point valued at up to $400m.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post 8 May 2017 – Didi Chuxing Confirms $5.5bn in New Funding and Much More appeared first on Global Venturing Review.
No episode this week due to the British Bank Holiday Weekend.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post 1 May 2017 – Bank Holiday Message appeared first on Global Venturing Review.
Deals SoftBank is reportedly considering paying upwards of $1bn for a 20% stake in One97 Communications, the Indian e-commerce firm that’s also the parent company for mobile payment platform Paytm.
China Vanke has become the second domestic property developer to make a nine-figure investment in Chinese real estate agency and online portal Lianjia this year, providing $436m in funding.
Classified listings platform 58.com is spinning out its used goods app Zhuan Zhuan, and Tencent has agreed to provide $200m in funding for the newly independent company.
SoftBank is yet to formally close its $100bn Vision Fund but is nevertheless on somewhat of a streak, reportedly offering big investments to a string of Asian online services providers.
Tianjin CanSino Biotechnology, which is developing vaccines for Ebola, tuberculosis, cervical cancer and pneumococcal infection, has closed $65m in funding from investors including Lilly Asia Ventures, and will put the cash towards commercialising its candidates and completing a manufacturing facility expected to be ready next year.
SenseTime is developing technology that will utilise machine learning to recognise faces to a high degree of accuracy, and has just raised $60m in a round led by the state-backed Sailing Capital International.
Car sharing platform Getaround has secured $45m from investors including Shanghai Automotive and an investment fund backed by Toyota, showing that the sector still has some life in it despite the ubiquity of its ride sharing cousins.
Kumpulan Wang Persaraan (KWAP), the Malaysian retirement fund, has invested $100m in Edotco, a Malaysia-based telecom infrastructure company, Digital News Asia reported on Wednesday.
Neural Analytics, a medical device spinout of University of California, Los Angeles (UCLA), has raised $10m in a funding round led by venture capital firm Reimagined Ventures.
Funds Illumina announced a year ago that it intended to invest $100m in startups through an independently managed VC firm called Illumina Ventures, but a securities filing has indicated it has increased that amount of capital to $189m by adding more limited partners.
The Indian state of Tamil Nadu is set to invest Rs5bn ($78m) in a venture capital fund, the Hindu Business Line reported yesterday.
The EU agency European Investment Fund (EIF) and the Luxembourg Future Fund (LFF), which aims to stimulate the Luxembourgish economy, have achieved a first close for the European Cyber Fund (ECF). Paladin Capital, a US-based investment firm with expertise in cyber and digital infrastructure resilience, will manage the ECF and has also invested into the fund.
Bpifrance, the public investment bank of France, has invested in a €64.75m ($69.2m) seed fund established by France-based life science-focused firm Advent France Biotechnology (AFB), Labiotech reported yesterday.
Spain-based early-stage venture capital firm Nauta Capital yesterday raised a €155m ($166m) fund, with the European Investment Fund (EIF) among the investors. British Business Bank Investments, the commercial arm of the state-owned economic development agency British Business Bank (BBI), is also a limited partner, alongside the Catalan Institute of Finance, a public financial institution owned by the government of Catalonia.
Exits Cloudera has set terms for an IPO that will net it $210m if it floats at the top of its range, and existing backer Intel has expressed interest in buying up to 10% of the shares in the offering.
Chinese logistics service Best Logistics is looking for banks to handle its own IPO, through which it expects to raise up to $1bn.
Walmart has spent the last few months beefing up its e-commerce offering through a string of acquisitions and the next one looks set to be online men’s fashion brand Bonobos.
G1 Therapeutics has filed for a $115m IPO that will support development of three clinical-stage oncology therapeutics and give an exit to corporate venturing unit MedImmune Ventures.
Netshoes, a Brazil-based sports and lifestyle e-commerce company for the Latin American market, has raised $148.5m in an initial public offering on the New York Stock Exchange.
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Deals It feels like the whole Flipkart/Snapdeal funding/merger saga’s been going on forever by this point but news continues to flow out of the respective camps, the latest being that Flipkart could well close between $1.2bn and $1.5bn in funding from eBay, Tencent and Microsoft next week.
On-demand ride platform Lyft has added almost 100 US cities to its network already this year and has now added another $500m of equity funding to its coffers.
Automotive trading software provider Souche.com has raised $180m in a series D round that included CreditEase’s New Financial Industrial Fund.
Alphabet-backed brokerage app developer Robinhood has pulled in new funding in a DST Global-led round that reportedly values it at $1.3bn.
India-based e-grocer BigBasket has reportedly entered talks with Tencent, Fosun and Amazon for a round that would be sized between $110m and $150m, and which would value it at $1bn, more than twice the valuation of its last funding, a $150m series D round that closed a year ago.
Existing investors GV and Sequoia Capital have co-led a series C round that provided more than $90m for secondary storage technology developer Cohesity, and which valued it at more than $500m.
Another Alphabet investment subsidiary, CapitalG, meanwhile has led an $81.5m series D round for Looker, a data analytics platform capable of curating large amounts of data to provide enterprise users with valuable insight into their organisation.
China-based Wecash has raised $80m in a series C round co-led by SIG that will enable it to add an online lending facility to its credit scoring platform, which has some 80 million users.
Fresh off the high that was Intel’s $15bn offer to acquire autonomous driving technology developer Mobileye, the company’s co-founders are now setting their sights on an initial public offering of another one of their ventures – OrCam Technologies, which has developed smart glasses that are able to identify street signs and read text and dictate it into the user’s ear.
Northwestern Mutual’s corporate venturing arm has participated in a $25m series C round for healthcare booking and billing platform Amino that took the company’s total equity financing to almost $45m.
SoftBank has reportedly rescinded between $150m and $200m in debt financing it was set to provide to portfolio company Snapdeal.
On Global University Venturing, US-based marketing technology developer ActionIQ has attracted $13m in a series A round that included Stanford University, through its Stanford Engineering Venture Fund.
And on Global Government venturing, Singapore Technologies Telemedia, a wholly-owned investment subsidiary of Singapore state-owned investment firm Temasek, invested $89m in US-based cybersecurity company Armor. Armor was previously majority owned by investment firm Stephens.
Funds Clean vehicle technology producer BorgWarner has provided $10m for US-based venture capital firm Autotech Ventures as part of an overall strategic investment plan. Autotech supplies VC funding to startups developing software, services or electronics technology for use in connected, autonomous and energy-efficient vehicles and mobility services.
Legend Capital, the venture capital firm formed by China-based conglomerate Legend Holdings, has raised more than $400m for its seventh fund. The $400m represents the fund’s hard cap, according to Private Equity International.
Southern New Hampshire University has partnered venture firm Rethink Education to create a $15m seed fund targeting early-stage edtech enterprises.
South Korea’s Ministry of Science, ICT and Future Planning will set up a 113.5bn won ($102m) fund for startups and VC firms in the biotechnology sector.
Enterprise Ireland, the export credit agency of the Irish government, is set to make up to €44m ($47m) in additional funding available to seed and early-stage companies.
Iran’s sovereign wealth fund Iran Foreign Investment Company will invest an undisclosed amount into the healthcare and technology sectors.
The government of Canada has outlined the next steps for its Innovation and Skills Plan, including an additional C$200m ($149m) for the Strategic Innovation Fund over a three year period, bringing it to C$1.26bn.
The BC Tech Fund, managed by Kensington Capital Partners invested an undisclosed amount into Lumira Capital IV, a new healthcare and life sciences venture capital fund managed by Lumira Capital.
Exits Sucampo Pharmaceuticals has bought rare disease therapy developer Vtesse for $200m in cash and stock, allowing Pfizer Venture Investments and Lundbeckfond Ventures to exit.
Data management software provider Cloudera has finally publicly filed for its IPO, setting an initial target of $200m.
Speculation about a Spotify IPO has been ongoing for years but reports now suggest it might take an unusual route to the public markets, listing its stock but not actually issuing any new shares or raising money.
Pharmaceutical firm Astellas Pharma is set to acquire Belgium-based drug discovery company Ogeda for €800m ($853m), providing an exit to Société Régionale d’Investissement de Wallonie, the state-owned investment company for the Wallonia government in Belgium that took part in a €16m series B round in 2015 and a $12.8m series A round in 2012.
Regulation The UK government is set to announce tax break reforms to ensure that entrepreneurs benefit from the tax incentives, rather than property investors.
An amendment to Germany’s law on competition restrictions proposed by the Federal Ministry for Economic Affairs and Energy has been approved by the federal council, known as Bundesrat.
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Funds Panasonic to put $100m into corporate venturing
German consumer product and industrial manufacturer Henkel has been exploring corporate venturing over the past year as part of a larger open innovation strategy, and has now formalised its investing by forming a dedicated venture capital unit, Henkel Ventures.
Intex enters corporate venturing with Rooter investment
Phoenix rises with corporate-backed fund
Government Department Canada unveils 2017 budget
Exits Alteryx processes $126m IPO
Ayondo aims to float at $158m valuation
Buzzfeed has quietly begun prep work for a 2018 IPO, unnamed industry sources have told Axios, although rival paper FT was doubtful. T
Akcea Therapeutics, which was spun out of Ionis Pharmaceuticals in 2015 to develop cardiometabolic disease treatments, has filed to raise up to $100m in an initial public offering.
Boston Scientific snatches Symetis for $435m
Sirrus proves the right formula for Nippon Shokubai
Ethicon extracts Torax in acquisition deal
Quixey closure reportedly due to Alibaba debt deal
Deals News broke last week that SoftBank was lining up a $1bn investment in Southeast Asian ride hailing platform Grab, and now sources have told Bloomberg it could provide a mammoth $6bn in funding to another on-demand ride service, China’s Didi Chuxing.
Flipkart may have just raised $1bn, in a round backed by eBay, Microsoft and Tencent, but the drop in its valuation from $15.5bn in 2015 to $10bn reflects a downturn in India’s e-commerce sector in general, which this week’s Big Deal explores.
JD Finance, the financial services spinout of Chinese e-commerce firm JD.com, is reportedly raising funding at a $7.3bn valuation.
Tencent helps treat Haodaifu Online to $200m
Online grocery startups seem to have been more popular in Asia but now a Netherlands-based company called Picnic has come on the scene, raising $109m in a round led by NPM Capital, the private equity arm of trading group SHV Holdings.
Indian logistics service provider Delhivery has pulled in $100m from Carlyle Group and Tiger Global, and could extend the round to $150m, with Fosun potentially putting in $30m.
UCloud, the China-based cloud computing services provider backed by Bertelsmann and Legend Holdings, has raised $139m in a series D round co-led by Oriza Holdings and CICC Alpha.
Quantum computing circuit developer Rigetti Computing has disclosed $64m of funding across two rounds – a $24m series A featuring Bloomberg Beta and a $40m series B. The technology is still in a fairly nascent state but if quantum computing manages to take off in a big way that Bloomberg investment could generate a pretty substantial return.
Government Department Benson Hill to grow with $25m series B
University Corner Saphlux lights up $5m investment
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MuleSoft raised $221m in its IPO on Friday, only to see its share price soar to almost twice the mid-point of its range. The offering is good news for the IPO market generally but also for enterprise software providers looking to go public.
Deals Flipkart has raised $1bn in funding from investors including Tencent, Microsoft and eBay and is reportedly seeking up to $1bn more in the next few months.
Tencent has led a $350m round for Kuaishou, which is also backed by Baidu, and both the corporates will help the company enhance user experience of its app, which boasts 50 million daily active users.
SoftBank has invested $300m in working space provider WeWork at a $17bn valuation and reportedly expects to add another $2.7bn through Vision Fund.
Sutro Biopharma spinout SutroVax has raised $64m, $60m of that coming from a series B round backed by Roche Venture Fund, and will use the funds to advance its development of a conjugate vaccine for pneumococcal disease.
Haoeyou has raised $40m for its medical tourism platform, which allows Chinese patients to access consultancies from US-based doctors through video conferencing, and to travel between countries for treatment.
Legend Capital is among the investors that have provided $39m in series B funding for Suzhou Ribo Life Science, a Chinese company developing RNA therapeutics to treat diseases such as hepatitis B, hyperlipidaemia and liver cancer.
Genome editing technology startup eGenesis has raised $38m in a series A round backed by healthcare services firm Heritage Provider Network and biotech property developer Alexandria Real Estate Equities.
Autonomous car tech continues to roll on, with Autotalks, a developer of chipsets that will be used in vehicle-to-vehicle communication, raising $30m in series D funding.
GlaxoSmithKline and Johnson & Johnson have contributed to a $30m series B round for Pulmocide, a developer of therapies to combat diseases caused by respiratory syncytial virus.
Funds Aflac has joined the numerous insurance providers that have established strategic investment arms over the past two years, forming a subsidiary called Aflac Corporate Ventures, in which it plans to invest $100m over the next three years.
Kabbage, the operator of an online lending platform for small businesses, is said to be in talks with investment firms to raise “a few hundred million dollars” that will be put toward acquisitions.
The European Fund for Strategic Investments (Efsi), also known as the Juncker Plan, is now set to trigger more than €177bn ($190bn) in total investments, figures released following a meeting of the European Investment Bank’s board of directors show.
Exits Amazon has beefed up its international e-commerce holdings, entering the Middle East through a $650m acquisition of local market leader Souq.com that provided Naspers and Jabbar Internet Group with exits.
Alibaba paid an undisclosed sum for a 32% stake in Damai.cn in 2014 and has now finished the job, acquiring the rest of the online ticketing platform.
Netshoes, a Brazil-based sports e-commerce company backed by Singapore government-owned GIC and Temasek as well as the International Finance Corporation, has filed for an initial public offering on the New York Stock Exchange that could bring in $100m in proceeds.
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Although Netflix is the global market leader when it comes to online video streaming subscription services, regional rivals are beginning to raise substantial sums, particularly in Asia where iFlix has just secured $90m at a valuation of more than $500m.
Deals DraftKings, which counts Fox Sports and sports leagues MLB, NHL and MLS as investors, has raised $100m in a series E1 round led by investment firm Eldridge Industries, taking its overall funding to some $630m.
Tencent and Baidu have co-led an $87m round for Nio, the Chinese smart electric vehicle developer formerly known as NextEV.
Public-private partnership Innovation Network Corporation of Japan (INCJ) meanwhile partnered healthcare companies Takeda Pharmaceutical and Medipal Holdings to launch Japan-based biotech firm Scohia Pharma.
Microsoft Ventures is keeping up the pace of its investment so far in 2017, contributing to a $52.5m growth round for Livongo Health, the developer of a digital diabetes management system.
The ad-for-equity space continues to grow, with news that recruitment platform Job Today has closed a $35m deal with Astremedia, RTL Germany and German Media Pool.
Innovium, the silicon data centre equipment developer that emerged from stealth last June, has secured $38.3m in a series C round that included returning investor Qualcomm Ventures.
SolarisBank has created what it claims is the first financial services-as-a-platform offering, an online marketplace through which external partners can offer their own digital banking services.
UK-based cellular immunotherapy developer Cell Medica closed a £60m ($73m) series C round today from a consortium that included Touchstone Innovations, the investment firm spun out of Imperial College London.
Oxford University has joined forces with private equity and VC firm Kingsley Capital Partners for a research program into the use of cannabinoids to treat a range of acute and chronic conditions.
Funds Pivotal BioVenture Partners has closed its first fund with $300m of capital from Chinese property developer Nan Fung Group, and plans to target transformative therapeutics, with infectious diseases, immunology, oncology, ophthalmology and orphan disease treatments all on the table.
Spectrum Health is the latest US healthcare system to form a corporate venturing subsidiary, committing up to $100m for Spectrum Health Ventures over the next decade.
VC firm 500 Startups has announced a $10m fund aimed at startups based in Latin America, attracting the International Finance Corporation (IFC), the private sector arm of the multilateral financial institution World Bank, as a limited partner.
The government of Indian state Karnataka has launched a Rs100m ($1.5m) proof of concept fund aimed at women entrepreneurs.
Bpifrance, the public investment bank of France, has committed €75m ($80m) to an investment fund currently being raised by private equity firm Bridgepoint, Les Echos has reported.
US-based fintech-focused venture capital firm TTV Capital has closed a $93m fund backed by Invest Georgia, a long-term investment program backed by the US state of Georgia, FinSMEs reported yesterday.
Exits MuleSoft, Alteryx and ForeScout all have offerings on the way, and now it looks like they’ll be joined by big data management software provider Cloudera, which has reportedly filed paperwork for its IPO confidentially.
Speaking Alteryx, the data analytics software provider has set the terms for an IPO that will give Thomson Reuters an exit, and it could raise $126m if it floats at the top of its range.
Chinese instalment buying platform Fenqile is said to be preparing for its own US flotation, in which it aims to raise $600m.
TechStyle, the fashion e-commerce company formerly known by the name of its JustFab brand, has reportedly hired JPMorgan Chase to seek out a buyer in a prospective deal that would value it at $1.5bn.
Renewable chemicals technology developer Avantium has raised $109m in an initial public offering in Europe that allowed investors including Coca-Cola and Swire Pacific to exit.
Germany-based gesture tracking software developer Gestigon, backed by public-private partnership High-Tech Gründerfonds (HTGF), was acquired by automotive supplier Valeo for an undisclosed sum.
US-based pharmaceutical company GE Healthcare has acquired Monica Healthcare, a medical device spinout of Nottingham University, for an undisclosed sum.
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Deals Airbnb has closed its series F round at just over $1bn, bringing its overall equity funding to $3.4bn.
Instacart, the company touted as ‘the Uber of grocery shopping’, has raised $400m at a $3.4bn valuation, with VC firm Sequoia leading the round with a reported $100m investment. Interestingly, none of Instacart’s corporate investors – Comcast Ventures, American Express Ventures and Whole Foods – were named as participants in the series D round.
Alibaba has spent around $250m in a secondary transaction to boost its stake in One97 Communications by an extra 4.3%, giving exits to Reliance Capital, Sapphire Ventures and Saama Capital in the process.
BBVA has led a $102m funding round for mobile banking app Atom Bank, investing just over $36m at a $320m valuation to maintain its 29.5% stake.
Baidu is said to be lining up a $100m investment in NextEV, the smart electric vehicle developer that unveiled what it claims is the world’s fastest electric supercar in November.
Liberty Global and Zain have joined existing backers including Sky and the CAA-backed Evolution Media Capital to invest $90m in iFlix, which has brought the Netflix template to Southeast Asia.
Ping An Overseas Holdings has led a series C round for livestreaming platform and communication services operator Bigo that valued it at $400m.
Spero Therapeutics, a biopharma working on treatments for superbugs, has completed an oversubscribed series C round, raising $51.7m.
Viva Republica, the Korean developer of mobile payment platform Toss, has picked up $48m in a series C round featuring PayPal which Forbes estimates values the company at roughly $250m.
Biohaven Pharmaceutical, a biopharmaceutical spinout of Yale University, yesterday closed an $80m series A round from investors that included spinout-focused investment firm Osage University Partners.
Funds Joyme Capital, the CVC arm of online gaming community operator Joyme Group, has teamed with gaming services provider Kee Ever Bright Technology to launch a strategic investment fund that will back game developers, eSports companies and gaming ancillary service startups among others.
US-based microfinance non-profit organisation Accion has launched a $141m financial technology and services investment fund with contributions from limited partners including the World Bank’s private sector investment arm International Finance Corporation.
The Cradle Fund, an investment vehicle owned by the government of Malaysia, has announced DEQ800, an initiative that will offer early-stage equity to startups, Tech in Asia wrote on Monday.
Uniseed, the venture fund backed by four Australian universities and research institute CSIRO, has announced a A$20m ($15m) fund that will make follow-on investments in existing portfolio companies.
Exits Snapchat owner Snap has formally closed an IPO that featured a $500m investment by NBCUniversal at $3.91bn, after its underwriters took up the option to buy an additional $410m in shares following a heady first two days of trading last week, with the company’s stock at one point up more than $12 from its flotation price.
Now that the dust is starting to clear from Snap’s flotation last week, onlookers are getting ready for the next big tech IPO, with MuleSoft setting terms for an offering that will net it $182m in proceeds and a $2bn+ valuation if it floats at the top of its range.
CA Technologies has agreed to buy cloud security platform Veracode in a $614m cash deal that will provide exits for backers including Telus, Tivo and Symantec, which spun the company out in 2006.
Otsuka Pharmaceutical has agreed to acquire ADHD treatment developer Neurovance in a deal that will give an exit to Novartis Venture Fund.
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Funds Foxconn, the contract manufacturer that’s already backed the $100bn SoftBank Vision Fund, has now also dropped $600m on a majority stake in the telecoms group’s Asia-based tech-focused investment arm SoftBank Asia Capital.
Baloise has committed $50m to an investment vehicle operated by Anthemis to identify opportunities in insurance technology startups based in Europe and the US.
Symantec, which previously backed Appthority via its subsidiary Blue Coat Systems, has decided to join the corporate venturing world and launched Symantec Ventures.
MFEC sets aside $20m to invest in startups and will move some of its human resources staff to manage the new corporate venturing subsidiary.
Kore, which provides business management software for entertainment companies and sports franchises, has formed a strategic investment arm and closed its first deal.
The Mobile World Congress might be making headlines because Nokia’s iconic 3310 handset is being resurrected, but Facebook is certain to also draw attention with the launch of a $170m investment collaboration through its Telecoms Infrastructure Project that will target startups operating in that very telecoms sector.
University Corner University venturing: the view from Cornell – an interview with Alice Li
Virginia Tech and Carilion launch $15m fund
Government Department Big deal: British Business Bank launches $500m fund
Mercia is allocated Northern Powerhouse money
Vanedge points at $122m fund
Hatteras to manage $60m NC fund
Exits Snap’s long-awaited initial public offering is upon us today, as the company priced 200 million shares at $17 a piece last night, resulting in a $3.4bn windfall.
As the news flow shows no intention of slowing down, today’s lead story is an initial public offering by Alteryx, a data analytics provider that counts Thomson Reuters and Sapphire Ventures among its shareholders. The company, which last raised $85m in a series C round in 2015, is targeting $75m in proceeds with a flotation on the New York Stock Exchange but is yet to decide on a price range for its shares.
In Finland, Next Games stands to be the country’s first games developer to complete an initial public offering if it goes ahead with plans to list on the Nasdaq First North Finland.
Another IPO: the week stays busy with Ecovacs Robotics, a China-based vacuum and household robotics producer, filing for a flotation on the Shanghai Stock Exchange.
Mozilla acquires Pocket and provides an exit to shareholders including Axel Springer, Digital Garage and Alphabet.
Yelp has acquired its portfolio company Nowait, a restaurant booking app that it backed last August.
Deals Our lead story last Monday is a Big Deal piece by reporter Kaloyan Andonov, in which he looks at what Ant Financial’s decision to provide $200m to Kakao Pay the previous week means.
Satellite operator OneWeb is making headlines with a $13bn all-stock merger with its peer Intelsat to produce a new entity that is set to attract $1.7bn in funding from SoftBank, the same investor that previously led a $1.2bn round with a $1bn cash injection in late December.
Oyo Rooms books up to $500m
Ola moves forward with $330m
Back in January, Grail, the oncology diagnostics company spun out of Illumina, was reported to be seeking $1bn for its series B round. Fast-forward to today and the startup has revealed that it has secured $900m – which may seem like it’s missed its target, but in fact that’s a first tranche and Grail is seeking up to an additional $900m to take the round all the way to $1.8bn.
Ride sharing might be in the news for all the wrong reasons these days as Uber is faced with scandal after scandal, but Didi Chuxing, the China-based ride hailing service that swallowed up Uber China, remains in good spirits: the company just backed a $450m series D round for Ofo, a bike sharing app provider.
A month ago, we reported on Paytm E-Commerce reportedly seeking a round of $180m to $200m and it appears the company has now secured the upper amount, getting $177m from Alibaba and another $23m from Saif Partners.
CloudMinds, an AI technology developer that previously obtained a stunning $31m in angel and seed capital from investors such as SoftBank, has received a similarly impressive $100m series A round from unnamed backers.
Delhivery coordinates $100m round
ChargePoint, which operates a network of independently managed charging stations for electric vehicles, has added $82m to its coffers thanks to a funding round led by Daimler.
University Corner PMV diagnoses $74m series B
Urjanet raises $20m series C
Government Department:
Omeicos is treated to $8.7m
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Deals SoFi is reportedly close to completing a $500m funding round backed by existing investor SoftBank.
Speaking of SoftBank, editor-in-chief James Mawson has taken a deep look at its $3.3bn acquisition of Fortress Investment Group a week ago.
Internet group Baidu has invested $300m in iQiyi, an online video streaming platform in which it is majority shareholder, as part of a convertible note round sized at $1.53bn, that will support the company’s subscription service.
Indian e-commerce company Flipkart could be in line for a $1.5bn round of its own, having reportedly entered talks with a host of investors including Microsoft, Tencent, eBay, PayPal and Alphabet.
Mobike has been operating its bike rental network less than a year but has already raised well over $400m, $300m of which has come this year.
Having made investments in India-based Paytm and Thailand-based Ascend Money in the past few months, Chinese financial services provider Ant Financial is moving into Korea.
China-based mobile game publisher Shinezone Network has secured $58m in series B funding that will be used to build out its international distribution and homegrown incubator activities.
Chinese peer-to-peer car sharing platform Atzuche has secured $58m in a series C round that included existing backers Hearst Media and China Pacific Insurance.
Cloud services provider Rackspace has spun out Mailgun, the email automation tools provider it acquired in 2012.
Media group Bennett, Coleman & Co has invested $38.8m in India-based e-commerce firm Flipkart, providing both capital and advertising services.
GV-backed microfinance provider Tala has raised $30m in an IVP-led series B round that took its overall funding to $44m.
Anxin Doctor, the developer of an app that connects users to medical specialists such as paediatricians, gynaecologists and obstetrics doctors, has raised $28m in funding.
On GlobalGovernmentVenturing.com, IDS Medical Systems Group, an Indonesia-based medical device supplier, is set to receive up to $60m from International Finance Corporation (IFC), the private sector-focused arm of multilateral financial institution World Bank, DealStreetAsia wrote yesterday.
We’ve also had a nice cross-over piece of news from Finland, where TactoTek, a three-dimensional moulded plastic electronics manufacturer, has increased its total funding to more than $20m following a round that featured Faurecia Ventures, the investment arm of automotive parts maker Faurecia.
And another cross-over: on GlobalUniversityVenturing.com, C3Nano, a spinout of Stanford University that produces conductive inks and films for bendable touch sensors, closed a $15m series D round co-led by GSR Ventures, conglomerate Nissha Printing and diversified holding group Xinjiang Guoli Minsheng Equity Investment.
Funds Artificial intelligence was one of the cutting edge technologies on the menu when Samsung launched its $150m Next fund last month, but reports coming out of Korea suggest the company is considering the formation of a $1bn fund that will focus exclusively on AI.
Meituan-Dianping, the Chinese local services operator formed by a $15bn merger in late 2015, is set to join rivals in the online services sector by forming a dedicated corporate venturing fund, for which it aims to raise approximately $435m.
Project A, a Germany-based venture capital firm, closed a €140m ($148m) early-stage fund today with a cornerstone investment from the European Investment Fund (EIF), the EU-owned financing agency.
BioMedPartners, a Switzerland-based healthcare-focused venture capital firm, has achieved the first close of its BioMedInvest III fund at SFr75m ($75m) with a cornerstone investment from the European Investment Fund (EIF).
The biggest fund on GGV came from Singapore, where Heliconia Capital Management, a wholly-owned investment subsidiary of Singapore’s sovereign wealth fund Temasek, has announced a S$600m ($422m) fund.
EduGrowth, a non-profit platform founded by Deakin University, La Trobe University, Monash University, Charles Sturt University and Griffith University as well as education company Navitas, has launched an accelerator, that will put A$50,000 into participating startups in return for 6% equity stake.
Exits Zawatt, a Japan-based operator of an online auction platform, is set to be acquired by marketplace app provider Mercari today (that is February 27, for those of you listening to this later in the week).
Zhenai, a China-based online dating platform backed by internet company IAC, is planning a listing via a reverse merger with aircraft parts manufacturer DEA General Aviation, China Money Network has reported.
US-based software integration technology provider MuleSoft has filed to raise $100m in an initial public offering that will give exits to networking technology producer Cisco and enterprise software firms Salesforce.com and ServiceNow.
Here’s some rather depressing news for investors: Groupon has revealed in a securities filing that it paid the grand total of zero for corporate-backed competitor Living Social when it acquired the company in October 2016.
On GlobalUniversityVenturing.com meanwhile, Wrapidity, an artificial intelligence (AI) spinout of Oxford University, was acquired by data science company Meltwater.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post 27 February 2017 – Westpac Supplies A$100m to Reinventure for Disruptive FinTech and Much More appeared first on Global Venturing Review.
Deals SoftBank has agreed to pay $3.3bn to acquire Fortress Investment Group, an investment manager with some $70bn of assets under management.
Jera, the joint venture formed by Japanese energy utilities Tokyo Electric Power and Chubu Electric Power, has invested $200m in India-based solar and wind energy producer ReNew Power, taking a 10% stake.
Lytro, the developer of a light field camera and imaging platform it claims can film the highest quality and resolution VR content on the market, has raised $60m in a round that took its overall funding to $200m.
Vietnamese e-commerce platform Tiki, which like Amazon started out selling books before branching out into other consumer products, is reportedly in the process of raising between $50m and $60m in a series D round expected to close by the end of this year.
Rhythm, a biopharmaceutical company developing peptide therapeutics to treat rare genetic deficiencies, has raised $41m in a mezzanine round backed by Ipsen and Pfizer Venture Investments.
Baidu Ventures has made its first investment, contributing to a $27m series B round for 8i, the developer of an app that allows users to record and project photorealistic holograms.
Logsitics company DB Schenker has led a $25m series D round for freight shipping marketplace uShip, doubling the company’s total funding in the process.
General Motors has led a funding round for advanced metal products developer NanoSteel that, according to a regulatory filing, is sized at $15m.
Soundtrack Your Brand, a Sweden-based business-to-business music streaming platform, raised $22m today from a consortium co-led by Industrifonden, the investment arm of Sweden’s government.
Exactuals, the US-based developer of a software platform that organises entertainment payments, has secured $10m in a series A round that featured featured Stanford University’s StartX Fund.
Funds Nasdaq is reportedly setting up a corporate venturing arm in order to fund startups with technology beneficial to its own offerings.
Tedco, the state-owned Technology Development Corporation of Maryland, has partnered financial services Harbor Bank to launch a fund aimed at black entrepreneurs.
Mubadala Development and International Petroleum Investment (IPIC), two sovereign wealth funds of Abu Dhabi, are set to be merged into a single vehicle named Mubadala Investment Co.
The Netherlands’ ministries for Foreign Affairs, Finance, and Foreign Trade and Development Cooperation jointly announced a €2.5bn ($2.1bn) government venturing fund called Invest-NL.
The government of India has approved a Rs68.31bn ($1.02bn) fund of funds aimed at the electronics and IT sectors, with an initial capital commitment of Rs6.81bn.
The government of Romania has signed a memorandum of understanding to establish an investment arm called Sovereign Development and Investment Fund.
Exits Snap has set the terms for an IPO that will give exits to Alibaba, Tencent and Yahoo, and which will raise $3.2bn if the company floats at the top of its range.
Visterra, which is developing antibody-based therapeutics for diseases such as influenza and dengue fever, has withdrawn its IPO, more than a year after initially filing.
Grab, the ride hailing platform that serves as Uber’s main competition in Southeast Asia, is reportedly set to make the first deal out of the $700m Indonesian investment drive it announced last week, acquiring mobile payment platform Kudo for more than $100m.
Supply chain management firm E2open has acquired Steelwedge, a business planning software producer that counts property developer JF Shea as an investor, in an all-share deal.
Beepi, the operator of an online marketplace for used cars, is winding down after raising almost $150m in funding, including $70m in a 2015 round led by automotive manufacturer SAIC that valued Beepi at $500m.
O-Flexx Technologies, a Germany-based thermoelectrics technology developer, has been acquired by automotive parts manufacturer Mahle for an undisclosed amount, providing an exit to NRW Bank, the state-owned economic development bank of North Rhine-Westphalia.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post 20 February 2017 – Ford Invests in Argo AI, Enterprise Ireland backs 4 Funds and Much More appeared first on Global Venturing Review.
Deals Mobile wallet operator Mobikwik has raised more than $120m from an investor base that includes corporates Net1, Cisco, American Express, GMO and Mediatek, and is currently in talks with investors for a round that could value it at up to $1bn, CEO Bipin Preet Singh has told Reuters.
View has been developing its Dynamic Glass, which tints to help control light and temperature in a building, since 2007 and has now added $100m in funding in a round that included $50m from Nuveen affiliate TIAA Investments.
Urban logistics services provider Shansong Express has raised $50m in a series C round co-led by SIG Asia that will be spent on growth and product development.
Alphabet subsidiary GV has led a $45m series C round for metal 3D printing technology developer Desktop Metal that included fellow corporate venturing units BMW i Ventures and Lowe’s Ventures. Desktop Metal, now valued at $350m according to the Wall Street Journal, has raised approximately $97m in total and its previous investors include General Electric and Saudi Aramco.
Mojo Networks, a 13-year old company that provides cloud wifi services to large businesses, has raised $30m in series E equity financing and debt, with strategic partner Alpha Technologies among the participants.
Cisco Investments has co-led a $30m series C round for Exabeam that took the cybersecurity platform developer’s overall funding to $65m.
On Global University Venturing we’ve had Tsinghua Holdings, a subsidiary of Tsinghua University, leading an $18m series B round for THG Ventures, a China-based cancer diagnosis and therapy company.
We also have Leeds University, which has spun out Dietary Assessment, which has developed a tool to enable researchers and health professionals to monitor diet and analyse food and drink consumption with a view of helping reduce diet-related conditions such as diabetes.
Indiana University meanwhile has established Digital Health Solutions to exploit a software that helps paediatricians make better use of electronic health records by collecting and analysing questions about a child’s health and flagging potential health issues.
On GGV, India-based online automotive classifieds service CarTrade, has raised $55m in funding co-led by Singaporean government-owned investment firm Temasek.
Funds Legend Capital, the Chinese venture firm sponsored by Lenovo owner Legend Holdings, has raised $243m for a fund it is looking to close at $375m, according to a regulatory filing.
In Southeast Asia meanwhile, ride ordering service Grab has committed to providing at least $100m for Indonesia-based startups as part of a $700m investment initiative in the country.
Indian consumer electronics producer Micromax is set to the be the anchor investor in a venture capital fund called Orbis Capital, and is in the process of securing limited partners that will increase the fund’s size to $100m.
Frontline Ventures, a VC firm based in the UK and Ireland, closed a €60m ($65m) fund on Tuesday with support from investors including the European Investment Fund.
Greece on Monday launched a call for financial institutions and private investors to participate in its VC fund Equifund.
Government-owned export credit agency Enterprise Ireland’s €175m ($185m) seed and venture capital programme, the state-owned €8bn Ireland Strategic Investment Fund and the European Investment Fund have committed capital to VC firm Seroba Life Sciences’ €100m third fund.
And finally, Russia Direct Investment Fund, the country’s government venturing arm, has said it expects more than $1bn in additional funding by the end of 2017 as its peer Qatar Investment Authority pledges to increase the size of its co-investments alongside RDIF.
Exits Kuaishou, the China-based developer of a photo and video-sharing app similar to Instagram and Snapchat, is planning an IPO in the US in the second half of 2017, undisclosed sources have told TechCrunch.
Sophos has agreed to acquire Invincea in a deal that will give an exit to Dell Ventures, just three months after the unit took part in a $10m round for the anti-malware software developer.
Detsky Mir, a Russia-based children’s retailer backed by the Russia-China Investment Fund (RCIF), raised 21.1bn rubles ($355m) yesterday in its initial public offering on the Moscow stock exchange. RCIF is a joint initiative between sovereign wealth funds China Investment Corporation and Russian Direct Investment Fund.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
The post 13 February 2017 – Used Vehicle Marketplace Uxin Raises $500m and Much More appeared first on Global Venturing Review.