Oxford Sciences Innovation has received an investment of undisclosed size from Legal & General.

The payments and fintech group has allocated a total of $23m to investments in fintech startups and verticals in India.

China Life will invest as much as $800m and Baidu $200m, in a fund formed by the China-based corporates to make mid and late-stage investments in internet-focused companies.

Alibaba has teamed up with venture capital and innovation company InnoSpring for an innovation centre in the Shanghai district of Jiading that will focus on foreign startups.

Epsilon Venture Partners, the fund formed by Sudheer Kuppam when he left Intel Capital in 2015, has reached a first close and is targeting a $350m final close in 2018.

The venture firm has reached a $50m first close for its latest fund, which is targeting a $200m close, securing GS Shop as a limited partner.

The insurance and financial services provider, which set up a venture capital unit last year, is set to provide more than $100m in funding to startups.

Lakson Group's asset management subsidiary has received Pakistan's first venture capital licence and intends to begin investing in autumn this year.

Energy-focused collaborative private equity firm Energy Impact Partners has secured Alliant Energy as its latest energy utility partner.

The Eli Lilly-backed firm has closed its oversubscribed fourth fund, LAV Biosciences Fund IV, reportedly raising the capital in only two months.