News round up 18 December 2017
Posted on 18 December, 2017 by Thierry Heles, editor
A round up of all the latest news on www.globalgovernmentventuring.com for our subscribers.
The state-backed investment fund could become a holding company with responsibility for several investment arms, instead of operating as a single unit.
The vehicles will be managed by Jaguar Ventures, Drayper Cygnus and NXTP Labs and focus on high-potential science, technology and social businesses.
NSI Ventures, which had obtained a commitment from Temasek for its previous vehicle, has achieved a first $60m close for its second fund.
Western NIS Enterprise Fund, backed by USAid, has launched a new fund that will focus on startups in Ukraine and Moldova.
The medtech-focused vehicle will back approximately 15 Europe and North America-based businesses working in the areas of medical devices, diagnostics and digital health.
Cathay Pacific has launched a fund that will invest in automotive and mobility technology, with Yangtze River Industry Fund acting as a cornerstone investor.
The funds will target technology businesses in Nova Scotia and the Atlantic Canada region after a report showed the province’s VC investments were trailing the national average.
The firm has been backed by the state-owned Dutch Good Growth Fund as it aims to fund Nepalese SMEs deemed too risky by conventional VC and microfinancing.
VC fund manager AmorChem has launched AmorChem II, a $44.2m seed-stage life sciences fund backed by the government of Quebec.
The Russian state-backed research arm will partner China’s TUS Holdings to plug China-based tech businesses into Russia’s research ecosystem.
The VC and technology-focused news platform, a spinout from technology group 36Kr, has raised capital from investors including Hangzhou Finance Investment.
The Intel, Mastercard, Amex and Santander-backed small business payment and revenue platform has raised $47.3m in a round that included the Fourth Swedish National Pension Fund.
The lunar exploration company has raised $90.2m in a series A round featuring Innovation Network Corporation of Japan and Development Bank of Japan.
CDC Group has injected $10m into Veritas Finance, a lending platform targeting micro, small and medium-sized enterprises in rural and semi-urban locations.
International Finance Corporation, an investor in Creditas' $19m series B round earlier this year, returned for a $50m series C that will support product development.
Affirm provides loans to young people in the US so they can purchase high-value items such as mattresses or holiday direct from the vendor.
Enterprise Ireland and Western Development Commission have secured an exit after medtech developer Crospon was bought by Medtronic for $45m.
Finnvera and Tekes-backed TactoTek has attracted $5.9m in funding from Ascend Capital Partners.
Queen's University spinout Fusion Antibodies is targeting $7.4m in proceeds in an IPO that will provide an exit to Qubis and Invest NI.
UAE is expected to capitalise on French economic reforms under president Emmanuel Macron with greater investment from a $1.2bn drive unveiled in November 2017.
The projects will share $35m from the Regional Enterprise Development Fund aimed at spurring economic growth.
Deputy chief executive Waleed al-Muhairi said Mubadala has backed biotech and AI and could score several exits next year.
The travel booking business is planning to refine its supply chain and strengthen its tie-ups with leisure service providers, including hotels.
The automated retail operator has been backed by the provincial government of Hainan and the state-owned Zhongguancun Science Park.
The government-owned Scottish Investment Bank has backed advanced laser developer UniKLasers with $1.4m and medtech vendor PhysioMedics with $1m.
The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.
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