The telecoms network operator has launched a venture capital scheme in partnership with Iran's University of Tehran.

Tom Zhang, an engineering partner at corporate venturing unit GV, has taken the chief data scientist position at VC firm Sinovation.

Toyota Tsusho and existing backer Digital Garage have co-led a series D round for the automotive e-commerce marketplace at a reported valuation of up to $700m.

University of Tehran and telecoms provider MTN-Irancell are preparing to seed a VC fund of undisclosed size to help nurture IT startups.

Investors including CA Mobile, IT Media and Voyage Group are in line for an exit in an offering for the advertising services provider projected for mid-June.

The $157m fund will be the Legend Holdings-backed venture firm's second RMB-denominated healthcare fund and its third overall.

Bharat Inclusion Initiative has already raised $12.5m to back projects in sectors such as financial inclusion, livelihood, education and health.

Siam Commercial Bank has committed another $50m to its SCB Digital Ventures unit, which will move away from fund-of-fund deals to more direct investments.

Smart car developer Byton has raised $260m from carmaker FAW, as part of what is now expected to be a $500m round.