MNC Media and Sinar Mas-backed fashion e-commerce company Sorabel has run out of cash having already shut down its Philippines-based subsidiary.

Industrial Growth Platform led the consulting company’s $23.7m maiden round, investing alongside backers including Change, Dentsu, Marshmallow and The Guild.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

CSPC returned for the anti-tumour therapy developer's series B round having backed its $147m series A early last year.

CMA CGM and Tamer Group participated in a round that will support the e-commerce delivery service’s expansion to Saudi Arabia.

Matt Kolling has taken on the chief investment officer position at Union Bank’s corporate venturing unit nearly a year after joining its parent company Aboitiz as head of venture investments.

The Tencent and Lenovo-backed online grocer has confirmed it has closed a $495m round led by China International Capital Corporation.

Fosun's venture capital affiliate is raising cash from external investors for the first time, and has pulled in $186m for the first close of its newest fund.

Mingdu Intelligent, backed by three Chinese academic institutions, has increased its funding haul to at least $26m.

The grocery e-commerce platform is set to raise the cash in a Tencent-backed series C-plus round, just weeks after it reportedly lined up $300m in series C financing.