Patrick Murphy, who headed Universal Music's corporate venturing activities for three years, will head Web Summit's newly formed fund, which is targeting a $50m close.

SEI Ventures will invest in seed-stage companies and give startups the opportunity to pilot their technologies across the privately-owned Strayer University and Capella University.

Tencent is contributing $250m to a larger funding round reportedly being raised by online education platform Yuanfudao at a valuation of $2.8bn.

Enterprise Holdings and Google have taken part in a series C round for last-mile delivery service Deliv alongside existing shareholders such as UPS and Macerich.

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

Pizza delivery service and food logistics developer Zume could also raise another $375m from SoftBank Vision Fund at a post-money valuation of $2.25bn.

Music tutoring platform Peilian has added $150m in funding from investors including Tencent to the series B funding it raised in January.

Emtek-backed online property real estate platform PropertyGuru has attracted $145m in a KKR-led series D round and acquired Batdongsan to expand into Vietnam.

The Gunosy-backed enterprise software provider formerly known as AdAsia, has received $13.5m in a round co-led by Line and Mirai Creation Fund.

Rakuten has scored an exit from digital invoicing platform MakeLeaps after Ricoh agreed to buy the company for a reported eight-figure amount.