Venture Capital

Venture firm Vireo Ventures has received an undisclosed sum from the utility’s CVC unit, representing the latter’s second fund investment.

After six years at the CVC unit, Katelyn Johnson will be managing director at the investment firm where she will focus on fintech deals.

Deutsche Telekom’s VC spinout’s third growth fund closed at $330m while DTCP and Porsche-backed Incharge Capital reached a $120m first close.

The Australian telecom firm’s VC affiliate changed its name to reflect its independent identity since spinning out in 2018.

The Bakery will help clients build CVC strategies while Staged Ventures will manage the funds and Pipe Ventures will provide deal flow.

Alphabet alumnus Gideon Yu is reportedly raising $500m to back companies spun out of incubator X Development like 280 Earth, Waymo and Google Glass.

UK smartphone camera component developer Cambridge Mechatronics’ latest round featured strategic investors Sony Ventures and Intel Capital.

Corporate investors have been part of $3bn worth of AI deals so far this year, with June particularly strong. There has also been a uptick in exits.

From joint startup prize competitions to joint investment funds, corporates are increasingly joining forces to source innovation.