Sinar Mas provided $250m for Dana while Prosperity7 Ventures led a tranche that took Insilico’s series D round to $95m.

M&A

Precision medicine producer Gemini Therapeutics has agreed to merge with Disc Medicine, a US-based haematologic disease therapy developer backed by life sciences real estate investment trust Alexandria Real Estate Equities, pharmaceutical firm Novo and conglomerate Access Industries. The combined entity will operate under the name Disc Medicine and take Gemini’s listing on the Nasdaq Global Market. It will have about $175m in cash when the transaction closes later this year, including $53.5m from existing Disc investors such as Novo and Access Industries subsidiary Access Biotechnology.

Human resources consulting firm Kabi Technologies has acquired Bloovo, a UAE-based provider of artificial intelligence-equipped recruitment software, for an undisclosed amount, allowing staffing advisory firm ProCapita HR Consultancy to exit. ProCapita took part in Bloovo’s $3m seed round in 2017.

Funds

Thailand-based electric utility Gulf Energy Development has committed THB2.7bn ($77m) to private equity firm Lightrock’s Climate Impact Fund, which is set to operate for a decade and which focuses on companies that can help impact greenhouse gas emissions.

Hong Kong-based asset management firm Gly Capital Management has closed a $163m private equity vehicle dubbed New Mobility Fund, which was anchored by automotive manufacturers Zhejiang Geely Holding Group and IT services firm SK. Its limited partners include unnamed industrial conglomerates, financial institutions, family offices and high-net-worth individuals across Hong Kong, South Korea, Singapore, the US, Europe and Japan.

Singapore-based insurer Tokio Marine Asia has formed a strategic alliance with fintech and insurtech-oriented venture capital firm Arbor Ventures through its Innovation Lab subsidiary. The corporate’s Japan-headquartered parent firm, Tokio Marine Holdings, had already created a corporate venturing arm called Tokio Marine Future Fund in April this year in partnership with VC group World Innovation Lab.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Espay Debit Indonesia Koe (Dana) Digital wallet provider Financial Indonesia N/A 250 10/08/2022 Sinar Mas Group; Lazada (secondary)
Insilico AI-driven drug discovery company  Healthcare China D 95 (updated) 10/08/2022 Saudi Aramco (Prosperity7 Ventures) (lead), Wilson Sonsini Goodrich & Rosati (WS Investment Company); Boston Consulting (B Capital Group), Warburg Pincus, BHR Partners, Qiming Venture Partners, Deerfield, Pavilion Capital, Bold Capital Partners, Alex Zhavoronkov
StradVision Automotive perception processing software developer Transport South Korea C 88 10/08/2022 ZF (co-lead), Aptiv (co-lead)
Injective Finance-focused blockchain provider Financial US N/A 40 10/08/2022 Jump Trading Group (Jump Crypto) (lead); Alan Howard (BH Digital)
Finix Software-focused payment technology provider Financial US B 30 10/08/2022 American Express (American Express Ventures); The General Partnership, Acrew Capital, Bain Capital (Bain Capital Ventures), Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Partners (PSP Growth), Vamos Ventures, Franklin Templeton
BetaGlue Technologies Cancer radiotherapy system developer Healthcare Italy N/A 10.2 19/07/2022 Intesa Sanpaolo (Neva), Petrone Group (Fin Posillipo), Romed; Panakes Partners, Liftt, Kairos Partners, Innogest Capital, Profequycapital
ViXion Eyesight enhancement headset developer Healthcare Japan A 7.2 10/08/2022 Senju Pharmaceutical, Exedy Corporation
Only Story Operator of decision-maker matching platform Chira CEO IT Japan N/A 7.2 10/08/2022 Nippon Life (Nissay Capital), EggForward, Uzabase; Shoko Chukin Bank (debt), Shizuoka Bank (debt)
Cupixel Augmented reality-based art viewing system developer Media US Seed 5 10/08/2022 Joann Fabric & Crafts (lead)
Fair.xyz NFT minting platform developer Financial UK Seed 4.5 09/08/2022 OpenSea; Eden Block (lead), First Minute Capital, NFX
Data Gumbo Smart contract technology provider IT US C 4 10/08/2022 Saudi Aramco (Saudi Aramco Energy Ventures), Equinor (Equinor Technology Ventures)
FastLabel AI-equipped data software provider IT Japan A 3.5 10/08/2022 NTT Docomo (NTT Docomo Ventures), Safie, Sony (Sony Innovation Fund); Jafco (lead), Genesia Ventures
Cocuus Bioprinted meat developer Consumer Spain Pre-A 2.6 10/06/2022 Cargill (Cargill Ventures); Big Idea Ventures (lead), Universitat Politècnica de València (Tech Transfer UPV), Eatable Adventures
Dank1 Sports training app developer Services Japan N/A 1.1 10/08/2022 Oricon
ProfilePrint Quality assessment technology provider for food ingredients Services Singapore A1 <1 ($600,000) 11/08/2022 Cargill
Pier Augé Skincare product manufacturer Consumer France N/A N/A 08/07/2022 S’Young Group
Pattern Technologies Online restaurant aggregator Consumer Pakistan Pre-Seed N/A 10/08/2022 Arbisoft; Deosai Ventures (lead), Sabr Capital, unnamed investors
Direct-C Nano-composite polymer technology provider Industrial Canada N/A N/A 09/08/2022 Henkel (Henkel Adhesive Technologies)
Effectiv Fraud prevention software producer Financial US N/A N/A 09/08/2022 BHG Financial (BHG VC)
Suzhou Electroder Technology Battery design services provider Energy and Natural Resources China A N/A 09/08/2022 Bosch Group (Robert Bosch Venture Capital); Sinovation Ventures
AppOmni SaaS-focused security software developer IT US N/A N/A 09/08/2022 Cisco (Cisco Investments)
MetaWorld Entertainment Web3-based concert, game and event provider Media US N/A N/A 09/08/2022 The Sandbox, Animoca Brands, Com2uS
Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.
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