Morgan Stanley helped provide $50m for cyber risk analytics provider CyberCube while Geely spinoff Zeekr confidentially filed to raise over $1bn in a US IPO.
M&A
Financial exchange operator London Stock Exchange Group (LSEG) has agreed to pay an undisclosed amount to acquire portfolio company Acadia, a US-based risk management services provider that counts fellow corporates Euroclear, DTCC, NEX Group, Citi, Societe Generale and Credit Suisse among its investors. LSEG invested in the company in 2018 when it was still called AcadiaSoft, following $35m in earlier funding according to securities filings.
Kite Pharma, the cancer immunotherapy subsidiary of biopharmaceutical firm Gilead Sciences, has agreed to buy portfolio company Tmunity Therapeutics, a US-based T-cell therapy developer backed by cell therapy services provider Be The Match BioTherapies, insurer Ping An and pharmaceutical firm Eli Lilly, for an undisclosed sum. Tmunity had raised $231m as of a $75m series B round in 2019.
Public markets
Zeekr, the China-based electric vehicle brand spun off by automotive manufacturer Geely, has confidentially filed for an initial public offering in the US. The company, which is also backed by corporates Bilibili, CATL and Intel, intends to raise more than $1bn through the listing at a valuation above $10bn, sources familiar with the matter told TechCrunch.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| CyberCube | Insurer-focused cyber risk analytics platform | IT | US | N/A | 50 | 19/12/2022 | Morgan Stanley (Morgan Stanley Tactical Value); Forgepoint Capital, Hudson Structured Capital Management, MTech Capital, investors from Stone Point Capital, Scott G Stephenson |
| Doctor Anywhere | Telehealth platform operator | Healthcare | Singapore | C1 | 38.8 | 21/12/2022 | Novo (lead), OSK Group & SBI Holdings (OSK-SBI Venture Partners), IHH Healthcare; Square Peg Capital, Kamet Capital Partners, EDBI, Asia Partners |
| Quris | AI-equipped drug development platform | Healthcare | Israel | Seed | 37 (updated) | 21/12/2022 | SoftBank (SoftBank Vision Fund 2), Richter Group; GlenRock Capital, iAngels, Welltech Ventures, Moshe Yanai, Kobi Richter, Judith Richter |
| Xscape Photonics | Photonic chip-based computing technology developer | IT | US | Seed | 10 | 20/12/2022 | Altair |
| Resistell | Developer of nanomotion cell measurement technology | Healthcare | Switzerland | B | 9.2 | 19/12/2022 | Trumpf (Trumpf Venture); European Innovation Council (EIC Fund), Occident, Zürcher Kantonalbank, Launchpad |
| Carallel | Family caregiver-focused digital tool provider | Healthcare | US | A | 8.2 | 21/12/2022 | BCBS of Alabama (450 Ventures), Wanxiang (Wanxiang Healthcare Investments); FCA Venture Partners (lead), Create Health Ventures, Gratitude Railroad, Loud Capital |
| Acompany | Privacy protection technology developer | IT | Japan | A | 4.8 | 21/12/2022 | Digital Garage (DG Daiwa Ventures); Spiral Capital (lead), Beyond Next Ventures, Anri (equity) Japan Finance Corporation, Shoko Chukin Bank, Mitsubishi UFJ Bank (debt) |
| Norbr | Payment integration system provider | Financial | Netherlands | N/A | 2.1 | 20/12/2022 | OTP Bank (PortfoLion Capital Partners) |
| Bison Energy Group | Renewable energy producer | Energy and Natural Resources | Japan | N/A | N/A | 16/12/2022 | Shizen Energy Group (Shizen International) |
| Amalgam Rx | Healthcare services and product marketplace | Healthcare | US | N/A | N/A | 19/12/2022 | Novo (Novo Nordisk) |
| Alami Group | Sharia-compliant, small business-focused lender | Financial | Indonesia | N/A | N/A | 19/12/2022 | ParagonCorp (Paragon Beneva Investama) |
