Index Ventures participated in a round that valued the WarnerMedia and Tencent-backed communication platform developer at $3.5bn.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

CAA and New Enterprise Associates have reportedly provided an initial $100m for Connect Ventures that could be upscaled to $400m.

The regional streaming service has been bought by Tencent for a reported eight-digit sum, enabling Hearst, JTBC, Liberty Global, MNC, PLDT, Sky, Yoshimoto Kogyo and Zain to exit.

The VaynerMedia-backed online design platform developer was valued at $6bn in a $60m round co-led by Blackbird Ventures and Sequoia China.

Asset manager Altshuler-Shaham led a round for the sporting highlights generator also backed by existing investors that would have included Baidu.

Kunal Mehta has been promoted to principal at the media group's corporate venturing unit, which has also hired senior associate Jacqueline Cegla and associate Isabel Lo.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

New World Development and China Mobile Games and Entertainment will have the chance to exit the Asia-based gay dating app developer.

Endeavor Group is likely to sell shares in the game developer, which is near to raising money in a round that will boost its valuation from $15bn to $17bn.