PragmatIC Semiconductor closed a $125m Saudi Aramco-backed series C round while Manulife provided $100m in funding for EDF spinoff PowerFlex.
Funds
Go-Ventures, the coprorate venture capital subsidiary of Indonesia-based ride hailing and e-commerce group GoTo, has raised almost $174m for its second fund, according to a securities filing. The fund has 20 financial backers and a $200m target for its close.
Finland-based digital business group Sofokus has formed an investment arm dubbed Digital Heart Capital II, after its predecessor launched in 2020. The second fund will target digital businesses and has already invested in sales agent services provider Sellai.
Conglomerate Keppel and real estate developers CBRE, Cushman & Wakefield, Equity Residential, Essent, Granite Properties, Hines, Invitation Homes, JBG Smith Properties, Meritage Homes, Meritage Homes, The Moinian Group, Move and and PulteGroup were among the limited partners for US-headquartered VC firm Fifth Wall’s Real Estate Technology Fund III, which reached a final close of $866m. Other LPs for the fund include Annaly Capital Management, Arbor Realty Trust, BPIfrance’s Digital Funds of Funds, Koch Real Estate Investments, Lineage Ventures, Physicians Realty Trust, CFG Bank and its Capital Funding subsidiary as well as employees of Northwood Investors.
M&A
Diabetes care provider Tandem Diabetes Care has acquired portfolio company AMF Medical, a Switzerland-based insulin patch pump developer, for up to CHF192m ($207m). The amount includes an CHF8m investment Tandem made in AMF in Q3 2022.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| PragmatIC Semiconductor | Developer of flexible integrated circuit technology | IT | UK | C | 125 (updated) | 13/12/2022 | Saudi Aramco (Prosperity7 Ventures); Business Bank (British Patient Capital) (lead), In-Q-Tel, Maven Capital Partners (North East Development Capital Fund/Finance Durham Fund) |
| PowerFlex | Renewable energy spinoff of EDF | Energy and Natural Resources | US | N/A | 100 | 13/12/2022 | Manulife Financial Corporation (Manulife Investment Management) |
| Nesto | Digital mortgage lender | Financial | Canada | C | 59 | 14/12/2022 | Power Corporation (IGM Financial) (lead), National Bank of Canada (NAventures), Bank of Montreal (BMO Capital Partners); Diagram Ventures, Sagard (Portage Ventures), Michael Rowell, Michael Paulus |
| 5B Holdings | Provider of solar energy installation technology | Energy and Natural Resources | Australia | B | 36.8 (updated) | 15/12/2022 | BP (BP Ventures), AES Corporation; Artesian Venture Capital |
| Basecamp Research | Protein product developer | Consumer | UK | A | 20 | 13/12/2022 | Valo; Systemiq Ventures (lead), Blue Horizon, True Ventures, Hummingbird Ventures |
| BrightSpec | Spectroscopy technology developer | Industrial | US | C | 18.4 | 14/12/2022 | Felton Group; Genoa Ventures (co-lead), Arboretum Ventures (co-lead), Medvest Capital, University of Virginia (UVA Seed Fund) |
| Paytner | Invoice automation software provider | Financial | Japan | B1 | 13.8 | 15/12/2022 | Orix (Orix Capital), Fukuoka Financial Group (FFG Venture Business Partners), Credit Saison (Saison Ventures), United, Sumitomo Mitsui Banking Corporation (SMBC Venture Capital), ChatWork, i Cubed Systems (i Cubed Ventures); W Fund (lead) |
| Intelligent Wellhead Systems | Oil and gas surface control system provider | Energy and Natural Resources | Canada | N/A | 13.1 | 14/12/2022 | Pason Systems |
| PasarPolis | Online insurance product aggregator | Financial | Indonesia | N/A | 12 | 14/12/2022 | GoTo (Go-Ventures); Leapfrog Investment, Intudo Ventures |
| Primary Portal | Equity market deal aggregator | Financial | UK | Seed | 6.5 | 13/12/2022 | Flow Traders (co-lead); Dutch Founders Fund (co-lead) |
| CareerFoundry | Online technology education provider | Services | Germany | N/A | 5.3 | 14/12/2022 | Tengelmann; Verdane, Investitionsbank Berlin (IBB Ventures) |
| Walnut Insurance | Embedded insurance technology provider | Financial | Canada | Seed | 4 | 14/12/2022 | ATB Financial (co-lead), National Bank of Canada (NAventures) (co-lead); Harvest Venture Partners, Highline Beta, N49P |
| Mintoak | Digital payment platform | Financial | India | N/A | 3.7 | 14/12/2022 | HDFC Bank |
| Handprint | ESG software provider | Energy and Natural Resources | Singapore | Seed | 3 (updated) | 14/12/2022 | Singtel (Singtel Innov8), Thunes |
| Nametag | Web3 identity verification service | IT | US | Seed | 2 | 14/12/2022 | OKX (OKX Ventures) (co-lead), Coinbase (Coinbase Ventures), Mask Network, Galaxe (formerly Project Galaxy); GSR Ventures (co-lead), Alchemy Ventures, Continue Capital, Cryptodog, Spencer Yang, Wesley Fei |
| Everimpact | Carbon emissions tracking platform | Energy and Natural Resources | France | Seed | 1.8 | 14/12/2022 | Wilhelmsen, IMC Industrial Group (IMC Ventures), Mitsui OSK Lines (MOL Plus), Blue Star Group; Motion Ventures (lead), EIT Urban Mobility, EU Commission (Climate-Kic and EIT Urban Mobility), Asian Development Bank (ADB Ventures), Transport Capital, Zerodha (Rainmaking Impact) |
| Altris AI | Smart eyecare technology developer | Healthcare | US | Seed | 1 | 14/12/2022 | Farmak; Runa Capital (lead), Joint Journey, Artesian, Brinc, University of Chicago Booth School of Business, Chicago Booth Angels |
| ThingsUp | Low-code IoT app development plaform | IT | India | N/A | <1($600,000) | 13/12/2022 | Udyat (Udyat Ventures); Silverneedle Ventures, Lead Angels, GSF |
| Bharat Krushi Seva | Farming advisory app developer | Industrial | India | Seed | <1($520,000) | 14/12/2022 | S Amit Group, Criyagen Agri & Biotech; Upaya Social Ventures, Villgro, Mintosh Advisory, SiriusOne Capital |
| Ixly | Educational assessment software provider | Services | Netherlands | N/A | N/A | 13/12/2022 | Schouten & Nelissen; Pride Capital Partners |
| F Med | Microsurgical device developer | Healthcare | Japan | Seed | N/A | 15/12/2022 | Astem, Oita Bank (Oita Venture Capital), Fukuoka Financial Group (FFG Venture Business Partners); Mirai Souzou, GxPartners |
| George and Shaun | AI-equipped dementia care services provider | Healthcare | Japan | N/A | N/A | 15/12/2022 | Sanyo Trading |
