News round up 7 August 2017

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

News

Canada makes visa scheme permanent

Following a five-year pilot program to help immigrants launch startups and become permanent residents, the government has decided to make the scheme permanent.

Funds

UK to launch National Investment Fund

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.

Deals

Maas Global amasses extra 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 cracks series A code with $40m

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.

Clementia cleaves $120m from IPO

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.

Novartis goes Homology in series B round

Homology Medicines, a startup developing treatments for rare genetic diseases, has closed $83.5m in series B funding, welcoming Novartis as a new investor.

Dianrong dives into $220m

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.

Milestone reaches $55m series C

BDC Capital and Fonds de solidarité FTQ both returned for a third round in Milestone that was led by new investor Novo.

Impossible Foods cooks up $75m round

Temasek led the Alphabet-backed vegan food developer's latest round, which took its funding over the past three years to about $260m.

Precithera collects $29m series A

Fonds de solidarité FTQ has supported an oversubscribed series A round for Precithera, a precision medicine company focused on orphan bone diseases.

GameSparks inspires Amazon acquisition

Enterprise Ireland has celebrated an exit as GameSparks is acquired by Amazon for a reported $10m.

Snapdeal calls off Flipkart sale

The e-commerce platform, backed by investors including Temasek, has decided against a $950m sale and elected to instead restructure.

Big deal: CarTrade seeks path to CarDekho merger

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.

Snapdeal board accepts $950m from Flipkart

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.

Deal net: 31 July – 4 August 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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