The industrial product maker will launch the Next47 unit in October and invest $1.1bn in innovative technology developers over the next five years.

IT services firm Wipro has invested a sum sized at under $5m in venture capital firm TLV Partners' $115m debut fund.

The venture capital firm has reached the final close of its growth fund, the LPs of which include Renault, Carrrefour, Ingenico, AG2R La Mondiale and CNP Assurances.

The New York Times and Google News Lab have joined forces with Matter Ventures to bring its accelerator initiative to Manhattan.

SBI Holdings has acquired a 35% stake in the corporate venturing subsidiary of ICCP Group, which plans to raise up to $100m for its next fund, for an undisclosed sum.

Conglomerate JSW Group's corporate venturing vehicle has received permission from the Indian regulator to begin making investments.

Bayer and DuPont have joined a consortium of investors to co-found a $15m agtech-focused accelerator fund dubbed Radicle, which has closed $6m so far.

Novosibirsk State University and Tomsk State University of Control Systems and Radioelectronics join forces to create a $13.8m venture fund.

Four investments totalling $126m to be made by Michigan University's endowment are disclosed through the agenda for its Board of Regents meeting.

EIF invests in the tech transfer fund of Groningen University and UMCG to support innovation in northern areas of the Netherlands and the healthy ageing sector.