Venture firm McRock Capital has reached the target for its industrial internet of things fund, backed by limited partners including Cisco and EDF.

The pharmaceutical company has set a $471m target for an investment unit that will fund healthcare startups.

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The programme will focus on hardware startups targeting the consumer health sector, and will invest different amounts dependent on the development stage of each.

The venture firm is yet to disclose its new target for the oversubscribed fund, in which Flextronics is an LP, but has already begun investing.

The investment arm of advisory firm Shengjing plans to commit much of the cash in the US to avoid being too dependent on its home country.

The telecommunications company has earmarked 20% of the funds for corporate venturing unit Deutsche Telekom Capital Partners to Israel-based companies.

Advertising firm R/GA and the Los Angeles Dodgers have revealed the first 10 startups to take part in their newly formed Sports and Entertainment Accelerator.

Hatteras Venture Partners raises $90m of its $150m target on fifth fund with backing from Chapel Hill.