News round up 6 November 2017

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

News

CIC eyes San Francisco base

China’s sovereign wealth fund is looking at an expanded presence in California to match moves from its investment bank rival China International Capital Corporation.

Opic gets in line for expanded remit

The US government-owned development agency Opic could soon be permitted to make direct equity investments.

Australia weighs fintech incentives

The government is looking at removing restrictions that have prevented fintech startups from accessing Australia’s venture capital incentive framework.

Malaysia targets $236m in venture capital

The government will raise the sum from institutional investors while rolling out tax reforms to encourage venture capital activity.

 

Funds

Brazil connects internet of things funds

BNDes will launch two internet of things-focused funds as part of the Brazilian development bank’s five-year blueprint drawn up to capture the technology’s economic benefits.

Adobe houses $21m fund

The fund will target Mexican companies operating in sectors such as affordable housing, education and alternative energy.

Zaimi to join Public Investment Fund

Alireza Zaimi’s appointment would continue PIF’s recruitment of overseas talent and provide expertise in equity derivatives at a time when it is looking to ramp up the value of its portfolio.

Temasek to launch fourth private equity-backed bond

The rumoured launch of Astrea IV would continue Temasek’s efforts to reach a larger pool of co-investors than its accredited partners.

CircleUp radiates $125m consumer goods fund

CircleUp, a consumer goods crowdfunding platform, has launched a new fund backed by Temasek to invest in up to 40 packaged goods businesses.

BioGeneration Ventures III grows to $95m

Backed by the European Investment Fund in June, the fund has now reached its final close with commitments from Bristol-Myers Squibb and Johnson & Johnson.

Mumtalakat mulls Vision Fund investment

Bahrain's sovereign wealth fund is considering a commitment that will help SoftBank's fund reach its $100bn target for a final close.

 

Deals

Big deal: PIF puts $1bn into space companies

The money will go towards Virgin Galactic, Spaceship Company and Virgin Orbit, three subsidiaries of diversified holding firm Virgin Group, and may be followed by another $480m.

SenseTime seeks $500m in series C round

The deep learning technology provider is aiming to raise the funding from investors such as Temasek at a $2bn valuation.

Recorded Future indexes $25m series E

Record Future, backed by In-Q-Tel, has raised a total of nearly $58m in equity funding following a series E round led by Insight Venture Partners.

Megvii faces investors in $460m round

Russia-China Investment Fund has led a $460m funding round for Megvii, the facial recognition software provider also known as Face++.

CyRise installs first cohort

The Victoria state government-backed accelerator has selected the first startups to join its program.

Argus braces for Continental acquisition

Continental is reportedly in advanced talks over a $400m acquisition of Vertex-backed in-car cybersecurity technology provider Argus.

Deal net: 30 October – 3 November 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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Most read

  1. Spire enters $70m series C orbit

    November 16, 2017

  2. Big deal: PIF puts $1bn into space companies

    October 30, 2017

  3. BioGeneration Ventures III grows to $95m

    October 31, 2017

  4. News round up 30 October 2017

    October 30, 2017

  5. Yotpo generates $51m series D

    November 10, 2017