News round up 25 September 2017

A round up of all the latest news on www.globalgovernmentventuring.com for our subscribers.

News

Lin engineers new job

Alex Lin, who formerly headed SGInnovate, will now lead ST Engineering’s corporate venturing unit.

 

Funds

Portugal prescribes $77.4m life sciences push

Portugal’s Instituição Financeira de Desenvolvimento will partner a foreign fund for to launch a $77.4m campaign aimed at backing domestic late-stage life sciences startups.

New Brunswick unveils sidecar funds

Early-stage startups in the province will have access to funds operated by Opportunities NB that will aim to prop falling private-sector investment.

Israel gears up for four funds

Eucalyptus Innovation Capital has thrown its hat in the ring to manage one of the government-backed funds aimed at the technology sector.

Pittsburgh mayor eyes fund

Pittsburgh’s mayor is looking to establish a startup fund as the city prepares for a next-generation manufacturing push.

Seraphim Space Fund counts down to $95m fund

Seraphim Capital's space-focused VC fund has achieved a $95m close with contributions from British Business Bank and European Space Agency.

Big deal: Hong Kong launches $256m fund

The autonomous territory’s government hopes to attract venture capital firms as co-investors of its Innovation and Technology Venture Fund, which will back local startups.

 

Deals

Mobify adapts to $15m series B

Mobify’s series B has reached $15m after a subsidiary of Kuwait Investment Authority, which is eyeing a shift towards e-commerce in the Persian Gulf region, joined the round.

Power2SME lights up $36m in IFC-backed series E

Power2SME has now secured $36m in series E funding for its B2B buying club platform after the service became profitable in November 2016.

Fenfenzhong procures $16.7m

Chinese government-backed National SME Development Fund has participated in a funding round for online restaurant procurement platform Fenfenzhong.

Israel Innovation Authority helps scan $8.3m into Augmedics

The Israeli government-funded authority has bet on augmented-reality based surgical technology developed in the Terralab incubator program.

IFC finds itself in ComparaOnline’s $14m round

The World Bank subsidiary has taken a stake in ComparaOnline, taking part in a $14m funding round.

Gogoro speeds to $300m series C

Temasek and several corporates were among the investors in the round, which boosted the electric scooter producer's total funding to $480m.

Younited connects to Bpifrance for $47.8m

Bpifrance has contributed to a $47.8m funding round for Younited Credit, which will use the money to launch its crowdlending platform in more countries.

Deal net: 18 – 22 September 2017

The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.

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