Hero Electronix was among the limited partners as venture capital fund Pi Ventures reached a $25m second close on its way to a $30m+ target.

MState Growth Lab has raised a fund and accelerator for blockchain technologies, with commitments from IBM and Comcast Ventures.

The insurance group launched strategic investment vehicle MetLife Digital Ventures alongside an accelerator partnership with Techstars.

The newly formed investment platform, part of biotech REIT Alexandria Real Estate Equities, will invest at life sciences startups at seed stage.

The automotive alliance plans to supply $200m for startups and open innovation schemes out of Alliance Ventures in the next year.

The pharmaceutical company, which has overseen a venture capital unit since 2004, will form the fund as it cuts internal neuroscience research.

The Apollo Southeast Asia fund will extend Baidu's $1.5bn Apollo Fund, formed to support its autonomous driving technology, to a new region.

Agent Capital, formed by Ex-Baxalta Ventures managing partner Geeta Vemuri, has raised $52m of a planned $150m for its first fund.