Karthee Madasamy, formerly head of Qualcomm Ventures' India fund, is set to shortly launch a new venture fund with $40m to $50m in capital.

Sumitomo Mitsui Financial Group has formed an innovation hub in Tokyo as well as a partnership with Work-Bench and Stanford StartX.

The government has launched Spin-Off Austria, an $18m nationwide initiative that will support academics looking to set up spinouts.

The university venture fund, backed by UZH Foundation and Novartis Venture Fund, has made its first investment in a University of Zurich spinout, Cutiss.

The PFR NCBR CVC Fund of Funds will put a total of $225m into corporate venturing units set up by domestic and overseas companies to stimulate the ecosystem.

PayPal has named the five next fintech startups that will participate in its India-based incubator, taking a stake of undisclosed size in each one.

Eight Roads Ventures, the investment arm of Fidelity, has set up a healthcare fund that will focus on Chinese startups in the therapeutics, services, IT and medical technology sectors.

University of Melbourne and RMIT University have put their weight behind a new incubator and accelerator that is set to open in the city.

Vertex Ventures has exceeded the $150m target for its latest fund, securing external investment for the first time from Kasikornbank.