The trading group's Marunouchi Capital unit reached its first close while BMS and Alexandria took part in cancer drug developer Torl’s $150m series B round.
Funds
Marunouchi Capital, an investment subsidiary of trading firm Mitsubishi Corporation, reached a ¥40.2bn ($303m) first close for its third fund. The unit intends to source external investment to increase its size to ¥100bn.
BAI Capital, a China-based venture capital firm that evolved from media conglomerate Bertelsmann’s regional subsidiary, Bertelsmann Asia Investments, is set to form a Web3-focused fund, according to partner William Zhao.
Public markets
Japan-based lunar spacecraft developer iSpace, which counts corporates Airbus, Takasago Thermal Engineering, Tokyo Broadcasting System, Dentsu, Konica Minolta, KDDI, Japan Airlines, Shimizu, Toppan, Suzuki and Mitsui Sumitomo among its backers, listed on the Tokyo Stock Exchange in a $52m initial public offering. The IPO was approved last month and came after a total of $176m in venture funding for iSpace.
Funding
US-based novel oncology biologics developer Torl BioTherapeutics raised $158m in series B funding from investors including pharmaceutical firm Bristol Myers Squibb and life sciences-focused real estate investment trust Alexandria Real Estate Equities, the latter through its Alexandria Venture Investments unit. The round was led by investment bank Goldman Sachs through its Goldman Sachs Asset Management unit and included University of California’s UC Investments subsidiary, Deep Track Capital, Vertex Ventures, Moore Strategic Ventures, Cowen Healthcare Investments, Perceptive Xontogeny Venture Fund and OCV Partners.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Pickup Coffee | Affordable coffee chain | Consumer | Philippines | A1 | 40 | 14/04/2023 | GoTo (Go-Ventures) (lead), Globe Telecom (Kickstart Ventures); DSG Consumer Partners, Gentree Fund, Antler, Venturi Partners |
| Alebund Pharmaceuticals | Renal disease therapy developer | Healthcare | China | Pre-C | 29.3 | 14/04/2023 | Eli Lilly (Lilly Asia Ventures); Guojin Group, Yangzhou Longchuan Holding Financial Investment, Octagon Capital, Verition Fund, Quan Capital, H Health Investment |
| Wevnal | Operator of digital marketing platform Botchan | Media | Japan | B | 15 (updated) | 12/04/2023 | Sony (Sony Innovation) Fund; Mitsubishi UFJ Financial Group (Mitsubishi UFJ Capital), Mizuho Bank (Mizuho Capital), JIC Venture Growth Investments, Archetype Ventures; unnamed financial institutions (debt) |
| Bria | AI-equipped image generation software provider | Media | Israel | A | 10 | 13/04/2023 | Sumitomo (IN Venture), Getty Images; Entrée Capital, unnamed angel investors |
| Distyl AI | AI-equipped workflow management tool provider | IT | US | Seed | 7 | 13/04/2023 | Dell (Dell Technologies Capital) (co-lead); Coatue (co-lead), Nat Friedman, Brad Gerstner, Jim Cash |
| Cyfirma | Producer of external threat management software | IT | Singapore | Pre-B | 5.5 | 14/04/2023 | Larsen & Toubro (L&T Innovation Fund) (co-lead); OurCrowd (co-lead), Goldman Sachs, Zodius Capital, Z3Partners |
| Age Technologies | Inheritance management simplification platform | Financial | Japan | B | 4.4 | 12/04/2023 | Digital Garage (DG Ventures); Kusabi, Open Network Lab (Earthshot Fund), Mitsubishi UFJ Bank, Resona Bank (Resona Capital Fund 6) (equity); Japan Finance Corporation, Resona Bank (debt) |
| Neuvotion | Neurostimulation medical device developer | Healthcare | US | Seed | 2.75 (updated) | 13/04/2023 | Northwell Health (Northwell Holdings), Good Shepherd Rehabilitation Network; Renaissance Technologies (Topspin Fund), Long Island Angel Network |
| Yuime | Migrant-focused human resources platform | Services | Japan | A | 2.2 | 12/04/2023 | KDDI (KDDI Regional Initiatives Fund 1) (lead), Ideo (Design for Ventures), Yamatane; Wing Capital Partners, Sumitomo Mitsui Banking Corporation (SMBC Venture Capital), Bank of Saga (Sagin Capital & Consulting), Nanto Bank (Nanto Capital Partners), Mizuho Bank (Mizuho Capital) |
| Interplay Learning | Online and VR-based training platform | Services | US | N/A | N/A | 13/04/2023 | ECMC Group, Masco Corporation (Masco Ventures) |
| L-DX | Lifestyle industry-focused digitalisation platform | Consumer | Japan | N/A | N/A | 14/04/2023 | Peers (unnamed CVC unit) |
| REA | AI-driven ride hailing management platform | Transport | Japan | N/A | N/A | 14/04/2023 | JR West (JR West Innovations) |
| Gimic | Patient-doctor matching platform | Healthcare | Japan | N/A | N/A | 13/04/2023 | HIS |
| Guanyu Technology | Silicon-based organic LED manufacturer | Industrial | China | B | N/A | 07/04/2023 | Zhejiang Zomax Transmission |
