Illumina Ventures started with a target of $300m for its latest fund but has cut that to $200m amid a tough climate for biotech investors.

Salling Seeds will back European retail, technology and sustainability startups and its first investment is in the East Jutland Innovation Fund.

Curql has built a collective of credit unions that are pooling their capital for maximum strategic benefit, says managing partner Craig Ibsen.

The fund is the largest fintech investment vehicle yet raised by credit unions and pushes Curql's overall assets under management past $600m.

Cambridge Innovation Capital has launched a £250m fund, committing at least £100m to the university's spinouts.

The Japanese banking group's SMBC Fin Atlas Beyond Fund will invest in US-based AI and fintech startups.

Booz Allen Ventures has expanded to a $300m unit as it looks to compete against Chinese counterparts in areas like AI, quantum computing and cybersecurity.

Media group Bloomberg has supplied a further $75m for its venture firm, Bloomberg Beta, taking its total assets under management to $450m.

WatsonX AI Labs will link local startups and researchers with IBM talent to jointly develop AI products, with funding from IBM Ventures potentially available.

The Korean carmaker has collected capital from 10 of its affiliate companies for a fund that will back frontier technologies such as AI and robotics.