Axa IM Alts co-led a $106.5m round for bacterial therapeutics startup Vedanta while Bloomberg Beta participated in generative AI developer Replit’s $97.4m series B.

Fund Workflow management software provider ServiceNow anchored the first close of the debut fund for US-based, enterprise software-focused venture capital firm Smith Point Capital, Smith Point Capital Fund I. Hillman Company, Solamere Capital and David Tepper were among the other limited partners for the fund, which is on its way to a $400m cap. M&A US-based insurance product comparison marketplace Policygenius agreed to an acquisition of undisclosed size by digital insurance technology provider Zinnia, allowing insurers Aegon, Axa, Brighthouse Financial, Global Atlantic Financial, IA Financial, Lincoln Financial, Massachusetts Mutual Life and Pacific Life to exit. Policygenius had raised $276m as of its $125m series E round in March 2022. BMC, a provider of digital enterprise software, purchased Model9 Software, a US-based developer of technology for mainframe cloud data management, for an undisclosed sum, allowing chipmaker Intel to exit. Corporate VC unit Intel Capital led a $9m series A round for Model9 in 2020. Online services provider Yahoo bought Wagr, a US-based sports betting app provider that counts sports and entertainment group Harris Blitzer and conglomerate and sports franchise owner Kraft Group among its investors, for an undisclosed amount. Both corporates took part in a $12m series A round in January 2022 that pushed Wagr’s overall funding to $16m. Funding Insurance firm Axa co-led a $106.5m round for Vedanta Biosciences, a US-headquartered developer of therapeutics based on bacterial consortia, through its Axa IM Alts fund. The round was co-led by AMR Action Fund and also featured pharmaceutical firms PureTech Health and Pfizer as well as Bill & Melinda Gates Foundation, Skyviews Life Science, Reimagined Ventures, Fiscus Ventures, Peak6, Atlantic Neptune, K2 HealthVentures, Korea Investment Partners, Korea Investment & Securities Asia, Korea Investment & Securities US, Revelation Partners, Quad Investment Management, Seventure Partners and Hambro Perks. CompanyCompany descriptionSectorsCountriesRoundRound size($m)Deal dateInvestorsReplitSoftware development-focused generative AI technology providerITUSB97.426/04/2023Bloomberg (Bloomberg Beta); Andreessen Horowitz (Andreessen Horowitz’s Growth Fund) (lead), Khosla Ventures, Coatue, SV Angel, Y Combinator, Naval Ravikant, Ark Ventures, Hamilton HelmerVirtaElectric vehicle charging platformTransportFinlandN/A71.825/04/2023E.on (Future Energy Ventures) (co-lead), Helen (Helen Ventures), Lahti Energy, Vantaa Energy, Kotka Energy; Jolt Capital (co-lead), Vertex Growth Fund, Finnish Industry Investment, Business FinlandVeo RoboticsDeveloper of collaborative industrial robotics technology IndustrialUSB2925/04/2023Amazon (Amazon Industrial Innovation Fund), Yamaha Motor (Yamaha Motor Ventures); Safar PartnersCyclic MaterialsMetals recycling serviceIndustrialCanadaA2725/04/2023BMW (BMW i Ventures); Energy Impact Partners (lead), Fifth Wall, Bioindustrial Innovation Canada, Planetary TechnologiesTopHatLow-carbon modular home builderServicesUKN/A24.925/04/2023Aviva (Aviva Capital Partners)PreAct TechnologiesCollision avoidance system developerTransportUSB2025/04/2023State Farm (State Farm Ventures); I Squared Capital (lead), Traylor Capital, NextXCorps (Luminate)OxAI software provider for frontline operations management…

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Edison Fu

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