News roundup 27 March 2017

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

News

Hobbs leaves Enterprise Ireland

Walter Hobbs, one of Enterprise Ireland’s most senior executives, has quit the agency less than a year after joining.

500 Startups opens Melbourne office

The decision follows a $2.3m investment from Victoria state-owned investment fund LaunchVic.

 

Funds

Big deal: Juncker Plan to trigger more than $190bn

The European Investment bank has approved 197 EFSI-backed projects to date, while the European Investment Fund has approved 264 SME financing agreements.

Pi Ventures calculates IFC funding

IFC is set to invest $3m the early-stage venture fund, which is seeking between $30m and $40m for its maiden fund.

Durham appoints Maven as $25m fund manager

Business Durham, the economic development arm of the Durham County Council, has named Maven Capital Partners as the manager of a $25m fund.

Food Works welcomes applications

The Irish government-run accelerator program is seeking applications from local entrepreneurs for its 2017 edition.

AFD helps develop Oasis Africa Fund

The French development agency has committed $7m to the fund, which invests in small and medium-sized enterprises in Ghana and Côte d’Ivoire. 

 

Deals

Amazon grabs a $650m bargain in Souk

IFC has exited Middle Eastern e-commerce company Souq, which raised money at a $1bn valuation just over a year ago.

IFC studies $25m Minsheng investment

IFC has injected $25m in Minsheng Education as part of the company’s initial public offering on the Hong Kong Stock Exchange.

Bpifrance-backed Teads joins Altice

Altice has acquired adtech business Teads at a valuation of $308m, though a quarter of the purchase price will be subject to revenue targets this year.

Netshoes approaches $100m IPO

Temasek, GIC and IFC stand to celebrate an exit as Netshoes files for an initial public offering on the New York Stock Exchange.

Advicenne listens to Bpifrance for $17.2m round

Bpifrance, through InnoBio, has participated in a funding round for Advicenne, which is working on therapies for orphan renal and neurological conditions.

Vertex helps carry $14m to Geek+

Logistics robot developer Geek+ has secured series A+ funding, adding to a $7m series A round raised last year.

Deal net: 20 – 24 March 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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