Partech Ventures has followed its $32m Partech Entrepreneur I fund with a corporate-backed $65m second fund, the largest dedicated seed fund in Europe.

The new corporate venturing division will be led by chief financial officer Michael Angelakis and focus on late-stage investments.

Alibaba subsidiary Aliyun is set to establish its Founder+ programme with the backing of 70 other actors, including International Data Group subsidiary IDG Capital Partners.

The e-commerce company has become the latest limited partner for IT-focused venture capital firm Jerusalem Venture Partners, committing $15m.

The smartwatch developer will distribute the cash among promising projects that incorporate technology into watch straps.

Online chat service and internet portal Daum Kakao has acquired the venture firm and plans to turn it into its corporate venturing arm.

Companies including FarEastTone Telecommunications, UDN Group, Fubon Life, Cathay Life and Phison Electronics have backed the Taiwan-based accelerator.

Duke University launches Angel Network and Innovation Fund to boost investment into startups and spin-outs.