Nexon has invested $400m in film and television studio Agbo while responsible credit card provider Petal raised $140m in an Encore Bank and Cuna Mutual-backed round.

Funding Video game producer Nexon has paid $400m for a 38% stake in Agbo, the US-based film and television production studio formed by film directors Anthony and Joe Russo. Agbo has the option to raise a further $100m from Nexon, which will take board seats for chief strategy officer Nick van Dyk and Tim Connors, senior vice-president of operations and business and legal affairs. Petal, the US-based provider a credit card that helps users spend responsibly and build their credit, received $140m in series D funding from investors including boutique bank Encore Bank and mutual insurer Cuna Mutual yesterday. Family office Tarsadia Investments led the round, which also featured Valar Ventures, Volery Capital Partners, Gopher Asset Management, RiverPark Ventures, Afore Capital, Gaingels and unnamed new and existing investors. China-based in vitro diagnostic technology developer Virtue Diagnostics completed a $100m series B round today featuring Lilly Asia Ventures and PerkinElmer Ventures, which invested on behalf of pharmaceutical firm Eli Lilly and diagnostics equipment producer PerkinElmer. The round was co-led by Sequoia China and Morningside and also backed by Oriza Holdings. Sygnum, the Switzerland-headquartered operator of an online bank and trading platform for digital assets, has raised $90m from investors including blockchain entertainment app publisher Animoca Brands at an $800m valuation, Bloomberg reported today, citing a company statement. The round was led by alternative investment firm Sun Hung Kai & Co and also backed by Meta Investments. Singapore-based payment software developer Spenmo has secured $75.5m in primary funding and $9.9m in secondary investment through a series B round including $9.8m from e-commerce holding company Rocket Internet and $500,000 from Salesforce Ventures, the investment arm of enterprise software producer Salesforce, DealStreetAsia reported yesterday, citing a regulatory filing. Tiger Global Management led the round, which also featured Insight Partners, Addition, Global Founders Capital and Alpha JWC Ventures. Metals provider Korea Zinc has committed $50m to the private investment in public equity (PIPE) financing backing US-based energy storage technology provider Energy Vault’s reverse merger with special purpose acquisition company Novus Capital Corporation II. The initial deal was agreed in September 2021 when the size of the PIPE stood at $100m, and the investment will give Korea Zinc a 4.3% stake in the combined business. China-based inflammatory and metabolic disease drug developer Jiangsu Atom Bioscience and Pharmaceutical completed a $45m series C round yesterday featuring pharmaceutical group Livzon. The round was co-led by Xicheng Jinrui Equity Investment Fund and ShenZen GTJA Investment Group and also backed…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.