Galaxy Digital called off its $1.2bn purchase of BitFury-backed crypto wallet developer BitGo while SK Group helped nuclear technology developer TerraPower raise $750m.


Diversified holding company Kadi Group has exited United Arab Emirates-based online second-hand goods marketplace Melltoo in an acquisition of undisclosed size by reverse logistics provider Cartlow. Kadi subsisidary Khwarizmi Ventures was among Melltoo’s investors, as was Raed Ventures, the venture capital arm of investment holding company Almajdouie.

Digital investment manager Galaxy Digital has withdrawn from the $1.2bn acquisition of US-headquartered cryptocurrency wallet developer BitGo originally agreed in May 2021. The terms of the cash-and-stock deal, which would have allowed Bitcoin mining technology provider BitFury to exit, were renegotiated in April, but Galaxy said it cancelled the transaction after BitGo failed to provide audited financial statements.

Company name Company description Sector Country Round Round size ($) Deal date Investors
TerraPower Nuclear energy technology developer Energy and Natural Resources US N/A 750 15/08/2022 SK Group (SK Inc) (co-lead), SK Group (SK Innovation) (co-lead); Bill Gates (co-lead), undisclosed others
Xiangdao Chuxin Ride-hailing service Transport China N/A 148 16/08/2022 SAIC Motor (co-lead), Momenta (co-lead), Gaohang (Tianjin) Management Consulting (co-lead) 
Dianxiaomi Ecommerce…

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Roshini Bains

Roshini Bains is the junior news reporter for Global Corporate Venturing and Global University Venturing.


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