News round up 4 December 2017

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

News

Europe ‘guarantees’ research and innovation budget

With research and innovation effectively ringfenced, Oettinger said the EC would “have to cut” effectively elsewhere.

 

Funds

Real takes in $140m for two funds

Real Ventures has secured capital from limited partners including Singapore state-owned investment firm Temasek for funds aimed at Montreal and wider Canada.

Fortino builds up $240m fund

PMV has committed to be cornerstone investors in the fund, which has achieved a $150m close.

Russia advances VC plans

Russia's state-owned enterprises and agencies have made a flurry of investment announcements to drive the country's innovation agenda.

Monaco backs $132m sustainability fund

The Constitutional Reserve Fund of Monaco has agreed to back the Nobel Sustainability Growth Fund through the Nobel Sustainability Fund.

Alberta moves into $135m Yaletown fund

Alberta Enterprise is set to contribute $10m to the first close of the smart technology-focused Yaletown Innovation Growth Fund.

EIF backs $375m Balderton Capital fund

Balderton has closed its sixth fund at $375m with the European Investment Fund as a limited partner, marking a rare exception to the EU-owned fund’s decision to halt UK commitments.

MIF joins $120m NXTP fund

IADB’s investment arm will act as an anchor investor for NXTP’s tech-focused vehicle that will back 30 to 40 businesses in Latin America.

 

Deals

Mojio mixes series B cocktail

BDC IT Venture Fund has returned to take part in a $23.3m series B, having previously supported a $15m series A round closed in December 2016.

ReversingLabs classifies $25m series A

The company, which entered into a strategic partnership with In-Q-Tel in 2012, has closed a round co-led by Trident Capital Cybersecurity and JPMorgan Chase.

Yaskawa transfer $15m to Transphorm

Yaskawa Electric has injected $15m into INCJ-backed Transphorm, a semiconductor technology producer already backed by Nihon and Alphabet.

Codiak develops $76.5m series C

Alaska Permanent Fund and Qatar Investment Authority were among the investors in a series C round for Codiak Biosciences.

Temasek explores sale of Zuellig Pharma stake

The Singapore state-owned investment firm is interested in selling its 20% stake in Zuellig Pharma and could seek as much as $1bn.

Tencent joins Uber secondary transaction

SoftBank and Dragoneer have been joined by Tencent, Sequoia Capital and TPG as investors hoping to purchase shares in a secondary transaction.

Fineway makes its way to $8.3m series A

Axel Springer and MairDumont are among the backers in Fineway’s series A round, which also featured Bavaria state-owned investment firm Bayern Kapital.

Bloomberg exits Immunio

Trend Micro has acquired Immunio for an undisclosed amount, enabling BDC Capital and Bloomberg to exit.

Doctolib books Bpifrance for $41.6m round

The round takes medical appointment booking platform Doctolib’s funding total to $101m and will help fund further expansion in France and Germany.

Temasek and CDPQ eye Asia Healthcare stake

The transaction, which would value medical centre holding company Asia Healthcare at $285m to $300m, would reportedly mark CDPQ’s first Indian healthcare investment.

Huochebang heads for $2bn merger

Huochebang, backed by IFC, is set to merge with its local peer Yunmanman in a deal that would value the combined entity at more than $2bn.

QCP refines LyondellBassel partnership

LyondellBassel will buy stakes from the local government of Limburg and VC firm Chemelot Ventures as QCP prepares to expand its polymer recycling operation.

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