The carmaker is adding to its open innovation activities by providing an eight-figure sum to develop strategically relevant startups with venture builder UP.Labs.

American Family helped digital auto insurance portal Branch secure $147m while Anthem, Optum and CVS Health all contributed to a $140m round for home care platform developer CareBridge.

GV participated in tech apprenticeship platform Multiverse’s $220m series D round while Amgen, UCB, UPMC and Takeda helped genetics disease drug developer Code Biotherapeutics raise $75m.

The number of corporate-backed deals dropped by 13% year-on-year in May, the first clear sign that the market pullback is having an impact.

Investment firm Anicut has hired Dhruv Kapoor to lead its Anicut Opportunities Fund I vehicle following more than five years at Russia-based Sistema's Asia Capital unit.

SoftBank Latin America Fund is among the investors in payment technology provider Kushki’s $186m series B round while Maruho co-led inflammatory disease drug developer Upstream's $200m series A.

Envision Group’s Envision Digital subsidiary raised $210m in series A funding while Sarnoff Corporation’s Intuity Medical spinoff will shut down at the start of July.

Biren Technology helped provide $120m for CPU producer HJ Micro while ArcelorMittal is set to invest $100m a year through its XCarb Innovation Fund and Accelerator Programme.

Mizuho Leasing told GCV its newly formed Future Creation Fund has a horizon of 10 years and will invest in seed and early-stage startups based in Japan.

Every day, Global Corporate Venturing rounds up the news from across the corporate innovation ecosystem.