News round up 8 May 2017

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

News

Shaun Seow joins Temasek

Shaun Seow, chief executive at Mediacorp, is leaving the company to join its parent Temasek as a managing director.

 

Funds

Xiaomi ventures to Hubei for $1.7bn fund

Xiaomi will put up a third of the capital for Xiaomi Yangtze Industry Fund, which will target hardware investments, with Hubei's guidance fund and the province's largest city the other LPs.

BDC Capital goes for $200m fund

The fund will focus on small and medium-sized enterprises based in Canada’s four Atlantic provinces, with the cash deployed over the next two years.

EIF and Bpifrance elevate Elaia Delta Fund to $125m

France-based venture firm Elaia Partners has reached the first close of its fourth fund, with the European Investment Fund and Bpifrance contributing capital.

EIF and Tekes put $33m into EAF fund

The EAF Finland fund aims to boost angel investments in the country.

RDIF looks to Japan for joint $900m fund

The Russia-Japan Investment Fund will be funded by the Russian Direct Investment Fund and Japan Bank for International Co-operation.

Bpifrance secures $55m fund

The vehicle, launched in collaboration with France’s arms procurement office, will back companies that have developed technology relevant to the country’s defence industry.

Vendep gets down to business with $44m fund

Finnish Industry Investment is among the limited partners of the Vendep Capital Fund II, which will focus on Finland-based business-to-business software developers.

Enterprise Ireland opens doors to PorterShed

The NDRC at PorterShed Accelerator will provide a boost to Ireland’s ecosystem and is open to applications from both domestic and international entrepreneurs.

Singapore seeks $718m opportunities

The city state is establishing a new fund to support companies’ overseas expansion efforts as part of an aim to double the number of IP experts to more than 1,000 over the next five years.

BDC Capital grows GTC division to $1.3bn

The Growth and Transition Capital division has been allocated $1.3bn in funding to invest in growth-stage businesses in Canada.

Enterprise Ireland launches $820,000 fund

The agency will open applications for its Competitive Start Fund for Female Entrepreneurs tomorrow, with up to $55,000 in equity funding available for up to 15 applicants.

EIF and EBRD anchor $164m V4C fund

The V4C Poland Plus fund will make investments in small and medium-sized enterprises as well as small mid-cap businesses, with a particular focus on the services sectors.

 

Deals

Taranis harvests $7.5m series A

Vertex Ventures has co-led a series A funding round for Taranis, a precision agriculture intelligence platform that aims to tackle crop disease and overuse of pest control.

BDC Capital injects another $11m into Pythian

Pythian has closed a mezzanine funding round led by BDC Capital, which also refinanced an existing $3.7m loan.

Radiology Partners administers $200m round

The Future Fund, Australia’s sovereign wealth fund, has co-led a funding round for the radiology practice that spans some 280 US hospitals and healthcare facilities.

IFC energises BEBB with $10m

The World Bank’s private sector investment arm has agreed to invest up to $10m in BEBB, which operates Power2SME, an online aggregator of raw materials requests from companies.

Wuxi NextCode programs $75m series B

Temasek has co-led a $75m funding round for genomics company Wuxi NextCode that also attracted biopharmaceutical company Amgen.

Zymeworks zooms to public markets

The cancer-focused antibody developer has secured $58.5m in a US flotation that involved existing investors Celgene and Eli Lilly buying more than $7m of shares.

Riskmethods assesses $14.7m series B

Bayern Kapital, which previously backed a $6m series A round just over a year ago, has returned to invest in Riskmethods’ series B round.

Temasek helps quicken Calysta with $40m

Temasek has participated in a $40m series D round for Calysta, with corporate backers including Mitsui & Co and Cargill.

Deal net: 1 – 5 May 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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