The Italy-based bank will own 40% of the fund, which has reached its first close, and which will invest in medtech, cleantech and advanced electronics.

Cisco and Metec have helped add capital to the latest fund formed by Italian government-owned VC fund manager Invitalia Ventures.

Nanowire solar cell technology developer Sol Voltaics has raised $12.5m in an Umoe-backed series C round, together with a $4.5m grant from the Swedish government.

The POS technology developer has closed a $22.5m round featuring retail firm Metro Group that boosted its overall funding to about $40m since 2011.

Hearst-backed vintage goods auctioneer Auctionata has agreed to merge with contemporary art auction platform Paddle8 to target the sub-$500,000 market.

Nanowire solar cell technology developer Sol Voltaics has raised $12.5m in an Umoe-backed series C round, together with a $4.5m grant from the Swedish government.

ProSiebenSat.1 and Franz Haniel both contributed capital as Berlin-based venture capital firm Cherry Ventures closed its Cherry Ventures II fund.

Novo joined limited partners including pension funds and private equity firms as the Denmark-based venture firm reached the final close of its latest fund.

Alexander Schlaepfer is leaving power and automation corporate venturing platform Aster Capital to join telecommunications group Swisscom's CVC unit.