News

Lin engineers new job

Alex Lin, who formerly headed SGInnovate, will now lead ST Engineering’s corporate venturing unit.

 

Funds

Portugal prescribes $77.4m life sciences push

Portugal’s Instituição Financeira de Desenvolvimento will partner a foreign fund for to launch a $77.4m campaign aimed at backing domestic late-stage life sciences startups.

New Brunswick unveils sidecar funds

Early-stage startups in the province will have access to funds operated by Opportunities NB that will aim to prop falling private-sector investment.

Israel gears up for four funds

Eucalyptus Innovation Capital has thrown its hat in the ring to manage one of the government-backed funds aimed at the technology sector.

Pittsburgh mayor eyes fund

Pittsburgh’s mayor is looking to establish a startup fund as the city prepares for a next-generation manufacturing push.

Seraphim Space Fund counts down to $95m fund

Seraphim Capital’s space-focused VC fund has achieved a $95m close with contributions from British Business Bank and European Space Agency.

Big deal: Hong Kong launches $256m fund

The autonomous territory’s government hopes to attract venture capital firms as co-investors of its Innovation and Technology Venture Fund, which will back local startups.

 

Deals

Mobify adapts to $15m series B

Mobify’s series B has reached $15m after a subsidiary of Kuwait Investment Authority, which is eyeing a shift towards e-commerce in the Persian Gulf region, joined the round.

Power2SME lights up $36m in IFC-backed series E

Power2SME has now secured $36m in series E funding for its B2B buying club platform after the service became profitable in November 2016.

Fenfenzhong procures $16.7m

Chinese government-backed National SME Development Fund has participated in a funding round for online restaurant procurement platform Fenfenzhong.

Israel Innovation Authority helps scan $8.3m into Augmedics

The Israeli government-funded authority has bet on augmented-reality based surgical technology developed in the Terralab incubator program.

IFC finds itself in ComparaOnline’s $14m round

The World Bank subsidiary has taken a stake in ComparaOnline, taking part in a $14m funding round.

Gogoro speeds to $300m series C

Temasek and several corporates were among the investors in the round, which boosted the electric scooter producer’s total funding to $480m.

Younited connects to Bpifrance for $47.8m

Bpifrance has contributed to a $47.8m funding round for Younited Credit, which will use the money to launch its crowdlending platform in more countries.

Deal net: 18 – 22 September 2017

The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.