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.

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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.

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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