Dominique Mégret has exclusively revealed to Global Venturing that the unit closed its fourth main fund in July, with 75% of the capital coming from external limited partners.

Allianz and White Mountains Insurance helped Pie Insurance raise $315m while Cargill and ADM chipped into Innovafeed‘s $250m series D round.

With three investments already in the pocket, Klima is set to back a wide range of energy transition startups.

The Deutsche Telekom spinoff’s Growth Equity III Fund has completed a $300m first close backed by its former parent company as well as SoftBank.

DG Daiwa Ventures contributed to a $40m series B round for Yellow Card Financial while Vitol provided $37m in series C funding for VavaCars.

Novo Holdings led a $75m series C round for Kate Farms while PayU and InfoEdge Ventures participated in DotPe’s $58m series B.

Alphabet led a $1bn round for its life sciences unit, PTT bets on insect startup and corporate-backed Propzy is set to shut down.

Intuitive Surgical was part of Galvanize Therapeutics’ $100m series B round while Intel Capital participated in a $90m series C for Fortanix.

Telefónica Ventures head of investments Pablo Moro tells Global Venturing Web3 and the metaverse are now among its priorities, with play-to-earn, tokenisation, VR and AR among the potential strategic areas.

As telecoms networks continue to expand their services, what even counts as a strategic investment these days? A selection of industry figures tell Global Venturing it can include Web3, ESG and 5G-related technologies.