Hanwha, Naver and Mitsui Fudosan all chipped in as the Southeast Asian venture firm closed an oversubscribed third fund.

Aflac Ventures Fund, launched in early 2017 with a $100m investment target, has been broadened by its insurer parent to $250m.

State Farm has become the latest insurance firm to get involved in corporate venturing, launching a vehicle called State Farm Ventures.

Lockheed Martin was among the limited partners that helped Main Sequence Ventures add almost $95m to its Csiro Innovation Fund 1.

The healthcare provider, which has become an increasingly active investor, has formed a corporate venturing unit called Cigna Ventures.

University of Melbourne and Lockheed Martin have contributed to an additional $94.8m tranche for the Csiro Innovation Fund, bringing its total to $167m.

Samsung, Philips, Applied Materials, SK Hynix, KBC, Belfius, BNP Paribas Fortis and KPN Ventures have all backed the Imec.xpand fund.

The research institute has achieved a $135m close for its Imec.xpand fund, breaking through its target of $116m just over a year after launching fundraising efforts.

The fund has closed with backing from Protective Life Insurance and Hoar Construction and will target seed-stage deals for local startups.

The oil and gas provider, which already runs the $500m Saudi Aramco Energy Ventures unit, is reportedly mulling plans for a larger fund.