Five Scottish universities are amongst the UK's top ten for number of spin-outs.

Global Corporate Venturing spoke to Matteo Rizzi, a general partner at Sberbank-backed SBT Venture Capital, about the emergence of fintech funds and the potential for banks to take a greater funding role.

The GSK-backed fungal infection drug developer has raised the maximum again from the $55m initially targeted from an IPO in which Sanofi will become its largest shareholder.

Evrythng, a developer of software that connects products with the web, has secured $7m from backers including Cisco Investments.

The networking company is set to provide the cash, which will be added to $100m announced in January, over the next three years.

The fund will be managed by Finance Wales, the investment bank subsidiary of the Welsh Government.

Opera Mediaworks is set to expand its reach in Germany after buying Deutsche Telekom-backed mobile advertising company Apprupt.

Cirrus Logic is buying the Edinburgh University spin-out.

Mobile network operator MTS and holding company Sistema will each take a 10.8% share in Ozon, which is also set to form a sales partnership with MTS.