News round up 30 October 2017

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

News

Editorial: Macron calls for disruptive innovation agency

The French president hopes to drive the creation of a new European Union agency within two years that would specialise in funding disruptive technologies.

Chinese VC investments creep above $1bn

China’s VC strategy has focused on high-value sectors such as AI and robotics through an expansion of regional government-owned guidance funds.

Scotland to consult on development bank

An advisory committee headed by Benny Higgins will consider how a fully-fledged Scottish development bank might work, building on a policy pledge by the country’s devolved government.

Wales launches $580m development bank

Development Bank of Wales has evolved from the former state-owned investment arm Finance Wales and will deploy a new $131.7m fund aimed at providing patient capital.

MMC London smashes co-investment target

The London mayoralty-owned vehicle has marked two exits and attracted 700% as much outside investment for SMEs in the capital than was originally anticipated.

Taiwan seeks extra VC funding from banks

Taiwan’s banks will be allowed to wholly own local VC firms as long as the total outlay does not surpass 3% of their overall net worth.

Vietnam schedules VC framework for 2018

The regulations, designed to help establish Vietnam’s startup ecosystem by 2025, would bring income tax benefits and the right to include 30 LPs at each fund.

 

Funds

Ireland equips software-focused fund with $100m

The investment by Ireland's sovereign wealth fund, ISIF, is anticipated to result in at least $294m in funding for Ireland-based software developers.

EIB backs $103m close for Italia Venture Fund

The EU-owned development agency has put capital into public-private partnership Italia Venture Fund I to aid Italy's attempt at closing the venturing gap on its European peers.

EBRD backs $70m Alterum fund

The contribution to VC fund Alterum Capital Partners I will help spur venturing in southeast Europe and is likely to draw a commitment from the EU-owned EIF.

 

Deals

Bpifrance assists with iAdvize series C

The real-time marketing platform operator will use the $37.6m in series C funding for further artificial intelligence development and to expand into the US.

Lightspeed tallies up $163m series D

The point-of-sale terminal manufacturer has received further backing from CDPQ and Investissement Québec in order to help it cope with market demand.

Primer pinpoints $14.7m

The search index developer has emerged from stealth with both backing and custom from In-Q-Tel, the VC affiliate of the US intelligence community.

Tracktik locks down $7m

CDPQ joined iNovia Capital for the round, which will help Tracktik pursue expansions across Europe and into South America.

Deal net: 23 – 27 October 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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