News round up 7 August 2017
Posted on 07 August, 2017 by Thierry Heles, editor
A round up of all the latest news on www.globalgovernmentventuring.com for our subscribers.
Following a five-year pilot program to help immigrants launch startups and become permanent residents, the government has decided to make the scheme permanent.
The vehicle, which could be set up either as a public-private partnership or a government venturing fund with a view of being sold off at a later date, will aim to deal with a lack of EIF funding.
The mobility app developer, backed by Tekes, increased its latest round, which includes Transdev, Veho, Toyota, Denso, Aioi Nissay Dowa, Swiftcom and Karsan from $11m to $16.8m.
M17 Entertainment, formed by the merger of corporate-backed startups Paktor and 17 Media, has raised $40m in a series A round featuring Vertex Ventures.
BDC Capital scored an exit after the bone disease therapy developer floated at the top of its range, having secured $92.5m in funding over the past two years.
Homology Medicines, a startup developing treatments for rare genetic diseases, has closed $83.5m in series B funding, welcoming Novartis as a new investor.
Singapore's GIC led the Bohai Leasing-backed online lender's latest round, which follows a $207m series C co-led by Standard Chartered Bank in 2015.
BDC Capital and Fonds de solidarité FTQ both returned for a third round in Milestone that was led by new investor Novo.
Temasek led the Alphabet-backed vegan food developer's latest round, which took its funding over the past three years to about $260m.
Fonds de solidarité FTQ has supported an oversubscribed series A round for Precithera, a precision medicine company focused on orphan bone diseases.
Enterprise Ireland has celebrated an exit as GameSparks is acquired by Amazon for a reported $10m.
The e-commerce platform, backed by investors including Temasek, has decided against a $950m sale and elected to instead restructure.
Temasek, an existing investor in CarTrade, is looking to put nearly $100m towards the deal, which is currently facing resistance from CarDekho’s largest shareholder Amit Jain.
E-commerce marketplace Flipkart has had a bid of between $900m and $950m accepted from the board of Temasek-backed rival Snapdeal that now needs only shareholder approval.
The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.
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