Kingsoft and Xiaomi are partnering on a $1.4bn semiconductor technology fund while Chiliz launched a $50m Web3 and entertainment incubator.
Funds
A subsidiary of diversified software producer Kingsoft has teamed up with another Chinese corporate, consumer electronics manufacturer Xiaomi, to form a RMB10bn ($1.4bn) fund to back integrated circuit developers, according to a Hong Kong Stock Exchange filing seen by DealStreetAsia. Kingsoft Wuhan is providing approximately RMB500m as one of the limited partners while Xiaomi Wuhan will contribute RMB3bn. Xiaomi Beijing is supplying RMB30m as the fund’s general partner and its other LPs include Hainan Huaying Kaitai and Nano Star Ventures, respective subsidiaries of IT services firm Kaitai Technology and semiconductor producer Novosense Microelectronics, as well as Industrial Securities Investment, Yizhuang International Investment, E-Town Capital, Tianjin Haichuang and Beijing Guiding Fund.
Chiliz, the Malta-registered operator of a blockchain-focused sports fan engagement platform, formed a $50m incubator called Chiliz Labs to target Web3 sports and entertainment technology startups, Coinbase has reported. Jump Crypto, the corporate venturing arm of cryptocurrency exchange Jump Trading, has also backed the initiative.
AccelerAsia Ventures, the corporate venturing arm of Singaporean consultancy AccelerAsia, is operating a fund that will invest in Southeast Asia-based business-to-business technology startups, DealStreetAsia has reported. The fund is aiming to raise between S$15m and S$20m ($11.2m-$14.9m) to back pre-series A and series A-stage companies, with the first close scheduled to take place at the end of June 2023.
Spanish food delivery app operator Glovo has formed an Impact Fund which will focus on sustainability and impact investments. The fund aims to deploy €5m ($5.3m) for projects focusing on climate action, local business digitalisation, tech gender equity and local community support by the end of 2023.
Verizon Ventures, the corporate venturing subsidiary of US-headquartered telecommunications firm Verizon, has ceased operations in Israel, according to Tel Aviv-based principal Eyal Mamistvalov, who said the unit will focus on the US market going forward. In addition to Mamistvalov, the regional team included managing director Tammy Mahn (a GCV Emerging Leader in 2022) as well as operation managers Anat Tamir and Iris Gal.
Funding
Denmark-based natural food colourant developer Chromologics raised €7.1m from investors including pharmaceutical firm Novo to expand its seed round to €12.6m ($13.5m). Nordic Foodtech VC, Danmarks Eksport- og Investeringsfond, Synergetic, Blue Horizon Ventures, Döhler Ventures, Thia Ventures, Giampaolo Cagnin and Vækstfonden are also among the investors in the round.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Caracol | Industrial 3D printer provider | Industrial | Italy | A | 11.3 | 06/03/2023 | Intesa Sanpaolo Group (Neva); CDP Venture Capital, Primo Space Fund, Eureka! Venture |
| TeraPore Technologies | Biomanufacturing-focused nanofiltration membrane technology developer | Industrial | US | N/A | 10 | 02/03/2023 | Entegris; Anzu Partners (lead), RA Capital Management |
| Rubi Labs | Developer of carbon dioxide-to-textile conversion technology | Industrial | US | Seed | 8.7 | 06/03/2023 | Patagonia (Tin Shed Ventures) (co-lead), H&M; Talis Capital (co-lead), Collaborative Fund, Necessary Ventures |
| EvolutionIQ | Insurance claims guidance platform | Financial | US | B | 7 | 28/02/2023 | Principal Financial Group; Brewer Lane Ventures (lead), First Round Capital, FirstMark Capital, Foundation Capital |
| Fazz | Business-focused payment platform | Financial | Singapore | N/A | 5.3 | 03/03/2023 | Mitsubishi UFJ Financial Group |
| Mapxus | Indoor geolocation software provider | IT | Hong Kong (China) | B | 5 | 02/03/2023 | Kawasaki Heavy Industries (lead) |
| Redeem | Phone number-based NFT transfer platform | Financial | US | Pre-seed | 2.5 | 01/03/2023 | Capital Markets Trading (CMT Digital); Kenetic Capital (lead), Monochrome Capital, VC3 DAO, The Fund, Flyover Capital, KCRise Fund, Kestrel 0x1 |
| Climate Alpha | AI-equipped property analytics software provider | IT | Singapore | N/A | <1 ($750,000) | 02/03/2023 | Thakral Corporation |
| Sploot | Pet care products and services provider | Services | India | N/A | <1 ($630,000) | 03/03/2023 | Info Edge (Redstart Labs) |
| SevenRooms | Hospitality guest retention platform | IT | US | N/A | N/A | 06/03/2023 | Union Square Hospitality Group (Enlightened Hospitality Investments); Danny Meyer |
| Geneus | Gene sequencing technology developer | Healthcare | China | B+ | N/A | 02/03/2023 | Dean Diagnostics (Wanyuandian Fund); GF Xinde Investment |
| Zhijing Technology | Quantum dot film and printing technology developer | Industrial | China | N/A | N/A | 03/03/2023 | Skyworth |
| Intelligent Haptronic Solutions | VR-driven surgical training platform | Media | Canada | Angel+ | N/A | 02/03/2023 | Shanghai Laimu Electronics; Luyou Investments, Metavalue Ventures, Hongxiu VC, Fei Gesheng |
