The Franco-German focused IrisNext fund will be backed by $83m from each of Orange and Publicis, and aims to attract more corporates for its first close, in 2016.

Facebook has followed its unsuccessful Internet.org programme in India with $1.2m of investments across 12 startups.

Growth equity firm Acton Capital Partners has closed a $200m fund that counts publishing group Hubert Burda, from which it spun out, as an anchor investor.

Biotech startups and spinouts in Cambridge, Massachusetts are set to receive $150m boost as fund aims for close.

The consumer foods manufacturer has expanded its 301 incubator into an investment vehicle that will back early-stage food companies.

The DNI Innovation Fund, launched in collaboration with around 120 European news organisations, will award grants to startups and innovative pre-development ideas.

Social gaming company KLab had previously invested through joint venture KLab Ventures but is raising funds for a wholly owned unit called KLab Venture Partners.