The University of California, Santa Barbara cloud spin out raises the funds backed by BV Capital, the former corporate venturing unit of Germany-based media company Bertelsmann.

Reed Elsevier is joined by Allen & Co and Pentech Ventures backing the UK-based advertising company.

The Business Growth Fund invests in its fifth deal in three months, backing Mexican street food chain Barburrito.

Deals will come from three main areas, or circles: first, the industrial LPs; second, universities, such as the Sorbonne and ParisTech; and, third, seven incubators around the country, including ones in Rens, Grenoble and Montpelier.

The communications company backs MySupermarket, which has two million users in the UK and has been growing at 100% a year.

OnCorps, a social networking start-up for technology veterans backed by venture firm Andreessen Horowitz, has taken part in a $4m funding round using an angel fund it runs for its community of users.

University of Manchester spin-out Arvia Technology, which treats organic liquid waste, has raised money from prior backer MTI, as well as investors Sustainable Technology Investors and Park Walk Advisors.

Imaxio, which was created partly from a spin-off from the Medical Research Council and Cambridge University in the UK, raises extra funds.

Jefferies has invested in social networking company Viadeo's $32m fundraising, while it is also exclusive financial advisor to Viadeo.