Alongside Fidelity Growth Partners Asia (FGPA) investing in Lumi were venture capital firms ClearVue Partners, which led the round, Jafco, Capvent and DCM.

Philip Morris Investments, the corporate venturing unit of the cigarette maker, owns 40% of Medicago and last month said the vaccine maker would pay $700,000 for the licenses.

Sonia Sahney Nagar, formerly a senior product manager at online retailer Amazon, is chief executive of Pickie and a co-founder alongside Abhijit Rao and Ryan Weber.

Founded in 2005, DDMap had previously been Taiwan-based smartphone maker HTC, family office Morningside Group and venture capital firm KTB Ventures.

Question of whether senior management can invest counter-cyclically and stay the course if the investment thesis remains true even if economic conditions turn sour.

Omnivore's two latest investments are R5crore ($1m) in agri-tech start-up FrontalRain and an undisclosed amount for agricultural equipment firm Khedut Agro.

The three Flat6Labs incubees now funded by Vodafone Ventures Egypt are: online supermarket Estery; taxi booking service Ogra and television applications developer GyroLabs.

Retty said the money would help it launch its international websites in the US and Singapore on iPhone and Android later this year.

Gree's, a Japan-based social media group, corporate venturing fund has made its second Indonesian investment by backing electronic commerce provider Bukalapak.

PriceArea.com raised an undisclosed amount in its series B round from Gree Ventures.