An undisclosed US university endowment has helped the consumer-focused venture firm hit a $118m final close for its second fund, surpassing its $100m target in the process.

The Tencent and Baidu-backed short-form video platform developer priced an offering valuing it at about $61bn at the top of its range.

The Shanghai Electric and CRRC-backed electric vehicle spinoff has now raised more than $1.06bn since being spun off by Dahua Technologies.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

The ride hailing service's SoftBank Vision Fund-backed driverless vehicle technology vehicle has received $300m as it lines up $1.5bn for its freight services unit.

Lenovo and the state-owned Guangzhou City Construction Investment Group took part in a $77.5m round for the cognitive AI software developer.

Sumitomo vehicle In Venture has invested in the quantum computing software startup through a $10.5m round as it looks to expand its engineering team.

MassMutual Ventures co-led the knowledge expertise service's latest round, which included Alibaba Entrepreneurs Fund and brought its overall funding to $30m.

SoftBank, Alibaba, Qualcomm, Suning and Dalian Wanda-backed image recognition software provider SenseTime has reportedly secured an undisclosed amount of pre-IPO funding.

The Samsung Ventures-backed cloud management software provider has raised series B funding in a round that roughly doubled its valuation to over $1bn.