Nomura Holdings, Daiwa Securities, Mitsubishi UFJ, Sumitomo Mitsui Financial and Mizuho Financial will aim to raise up to $1.78bn for the fund, in partnership with China Investment Corporation.

Baidu is in talks to provide half the funding in the prospective round while another of the EV producer's existing investors, Tencent, could also take part.

China Life's Healthcare Fund led the series B-1 round, which followed a series B featuring fellow corporates Google and Tencent in January.

The employee training software provider has confirmed a $50m round that included SIG, the corporate that led its series B round in 2017.

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

The corporates will establish a blockchain lab to look at applications using the cryptographic record system while also running related workshops and competitions.

Small-molecule therapy developer Xgene Pharma has received $20m in a Ping An Ventures-led round that also featured a subsidiary of Sinar Mas.

Jebsen Capital co-led a round that boosted the total raised by computer vision technology developer EyeSight, whose backers include Kuang-Chi, Ceva and Mitsui, to $50m.

Digital media company Bytedance has agreed $3bn in a round set to be led by SoftBank that will reportedly value it at $75bn.

Aikucun has added $110m in series B-plus funding to its coffers, just three months after raising $87.5m in a Legend Capital-led series B round.