Swansea spinout Bionema has received watchdog approval to test its biopesticides that could stop pests from destroying crops.

The venture firm appears to have downsized its second fund, which has secured Bertelsmann as an anchor investor, to $136m.

The ProSiebenSat.1 and Access Industries-backed music streaming service is considering another equity round or an initial public offering to raise more cash.

The startup fund has already backed Cambridge spinout BMLL and hopes to fundraise more money and add other spinouts to its portfolio.

Concept Life Sciences Group has acquired Dundee spinout CXR Biosciences.

The fund would enable the Germany-based e-commerce group, which went public in October 2014, to make later-stage investments.