The internet company's $28.9m vehicle will target digitalisation technology developers focusing on the live entertainment industry.

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

Starcity’s acquisition of Aviva-backed Ollie will create what is set to be one of the largest co-living developers and operators worldwide.

Channel 4’s corporate venturing unit has joined earlier backers Sistema and Yandex to become a shareholder of the educational resources provider.

Alibaba and American Express are set to exit the subscription-based e-commerce platform, which had been valued at $600m in 2013.

The appliance and electronics retailer has spun off an e-commerce and retail services arm with external funding valuing it at $3.8bn.

The series C round was led by SoftBank Vision Fund 2 and backed by GLP Capital Partners, GV and Volvo Group Venture Capital at a $500m valuation.

Everyday Network has exited apartment manager BestBond in an acquisition of undisclosed size by SoftBank-backed Ziroom.

The business management software provider's Zhongnan Capital-backed series D round lifted its overall funding to about $165m.

Q&A with Tarik Galijasevic, managing director, ASV