G42 acquired shares from existing backers including SoftBank and SIG valuing ByteDance at $220bn while Novartis co-led Mediar’s $85m series A round.

Person Holding Black Android Smartphone

Exit

Artificial intelligence and cloud computing technology provider G42’s 42XFund has paid $100m to acquire a stake in ByteDance, the China-based operator of short video streaming platform TikTok, from investors including telecommunications and internet group SoftBank and quantitative trading firm Susquehanna International Group. The deal valued ByteDance at $220bn, according to Bloomberg.

Funding

Novartis Venture Fund, part of pharmaceutical firm Novartis, co-led an $85m series A round for US-based fibrosis therapy developer Mediar Therapeutics with venture capital firm Sofinnova Partners. The round included healthcare provider Mass General Brigham and pharmaceutical firms Pfizer, Ono Pharmaceutical, Bristol Myers Squibb and Eli Lilly – the first three through Mass General Brigham Ventures, Pfizer Ventures and Ono Venture Investment respectively – as well as Mission BioCapital, Gimv and Pureos Bioventures.

Company Company description Sector Country Round Round size($m) Deal date Investors
Switch Therapeutics RNA-based drug developer Healthcare US A 52 14/03/2023 UCB (UCB Ventures) (co-lead), Eli Lilly, Ono Pharmaceutical (Ono Venture Investment); Insight Partners (co-lead), Digitalis Ventures, Upfront Ventures, Bold Capital Partners, Dolby Family Ventures, Free Flow Ventures, PhiFund Ventures, unnamed others
Mitiga Cloud-based incident response platform IT US A 45 14/03/2023 ClearSky Security (lead), Samsung (Samsung Next); Blackstone, Atlantic Bridge, DNX Ventures
Verity Drone-equipped inventory tracking tool provider Services Switzerland B 32 14/03/2023 AP Moller (lead); Exor (Exor Ventures)
Funds Online business lending marketplace Financial Japan D 26.7 15/03/2023 Itochu (Itochu Technology Ventures), Mizuho Bank (Mizuho Capital), Mitsubishi UFJ (Mitsubishi UFJ Capital), Fukuoka Financial Group (FFG Venture Business Partners), Cygames (Cygames Capital), Mercuria Holdings, Sumitomo Mitsui Trust Bank, Rakuten Group (Rakuten Securities), Hanwha Group (Hanwha Asset Management); Anri, Global Brain, B Dash Ventures
Tilia Digital payment platform developer Financial US N/A 22 14/03/2023 Dunamu, JP Morgan (JP Morgan Payments)
Fork and Good Cultivated pork producer Consumer US N/A 22 14/03/2023 Bayer (Leaps by Bayer), Green Monday; True Ventures (lead), Collaborative Fund, Firstminute Capital, Starlight Investments, unnamed others
HealthPlix Provider of electronic medical record software Healthcare India C 22 15/03/2023 Susquehanna International Group (SIG Venture Capital), JSW Group (JSW Ventures); Avataar Venture Partners (lead), Lightspeed Venture Partners, Kalaari Capital, Chiratae Ventures
Cofe Online coffee marketplace Consumer UAE B 15 14/03/2023 Saudi Aramco (Wa’ed Ventures) (lead); EWTP Arabia Capital, Al Imtiaz Investment Group, Kuwait Finance House (KISP Capital’s KISP Ventures unit), Rasameel Investment Company
DressX Fashion-focused NFT marketplace Consumer US N/A 15 14/03/2023 Warner Music; Greenfield (lead), Slow Ventures, Affiliated Managers Group (Artemis Fund), Red DAO, unnamed others
CNHC RMB-pegged stablecoin issuer Financial China N/A 10 15/03/2023 KuCoin (KuCoin Ventures) (lead), Circle (Circle Ventures); IDG Capital
One Impression Influencer-focused marketing platform Media India A 10 15/03/2023 Krafton (lead); PeerCapital
Gynoveda Ayurveda-based gynaecological and wellness brand Consumer India A 10 15/03/2023 Wipro Enterprises, RPG Group (RPG Ventures), Dharampal Satyapal Group; India Alternatives Fund (lead), Alteria Capital, Fireside Ventures
Mayan Developer of optimisation and automation technology for Amazon merchants IT US A 5 14/03/2023 Sonae Group (Bright Pixel) (lead)
FunP Innovation Group Digital advertising technology provider Media Taiwan N/A 3.1 15/03/2023 Foxconn (Ennoconn Corporation)
Things Operator of no-code product development platform Prism IT Japan Pre-A 1.7 15/03/2023 Pksha Technology (Pksha Capital), Sumitomo Mitsui Banking Corporation (SMBC Venture Capital), Shizuoka Bank (Shizuoka Capital), Shinsei Bank (Shinsei Corporate Investment); Global Brain (lead), Anri
Bundle x Joy Direct-to-consumer pet care brand Services US Seed 1 14/03/2023 Mars Petcare/R/GA (R/GA Ventures)/Michelson Found Animals (Leap Venture Studio) (lead), Mars Petcare (Mars Petcare Companion Fund), R/GA (R/GA Ventures); Michelson Found Animals Foundation, Cloyes Ventures
Athian Livestock industry-focused carbon credit marketplace Industrial US Seed N/A 14/03/2023 Tyson Foods (Tyson Ventures), Elanco Animal Health, Newtrient
Securiti Data control software producer IT US N/A N/A 14/03/2023 Capital One (Capital One Ventures), Citi (Citi Ventures)
Intellect Digital mental healthcare provider Healthcare Malaysia N/A N/A 15/03/2023 IHH Healthcare
Edison Fu

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