Guangdong Jia Yuan took part in a $177m round for Tian Yu Semiconductor Energy while Schrodinger, WuXi AppTec and Eli Lilly exited Structure Therapeutics in a $161m IPO.

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Funds

US-based investment firm Partech has secured €245m ($264m) for the first close of its Partech Africa II fund, from limited partners including media conglomerate Bertelsmann. German development bank KfW anchored the fund and was also joined by European Investment Bank, World Bank Group’s International Finance Corporation unit, FMO, BPIfrance Investissement, British International Investment, DEG, Proparco and South Suez Capital.

Germany-based impact investment firm Planet A Ventures has closed its debut fund at €160m ($172m) with backing from carmaker BMW and supermarket chain operator Rewe. The LP roster was filled out by KfW, Vaekstfonden/EIFO, Rolf Schrömgens, Maximilian Backhaus and Rubin Ritter.

US-based startup accelerator operator Nex Cubed has formed a $40m accelerator called HBCU Founders Fund which is targeted at historically black colleges and universities. The fund is backed by $5m from retail group Costco Wholesale.

Public markets

Structure Therapeutics, a US-based chronic disease therapy developer backed by drug development software provider Schrodinger and pharmaceutical firms WuXi AppTec and Eli Lilly, raised $161m in an initial public offering on the Nasdaq Stock Exchange. It sold 10.74 million American depositary shares at $15 each and is currently trading at $23.00, giving it a market capitalisation of approximately $841m.

M&A

Utility bill management platform Billing Better has acquired Homebox, a UK-based utility comparison service provider that counts by advertising group R/GA as an investor, for an undisclosed amount. The company was part of R/GA Ventures’ R/GA IoT Venture Studio in 2018.

Searchmetrics, the Germany-based creator of an enterprise-focused search engine optimisation platform, has been acquired by business marketing firm Conductor for an undisclosed sum, allowing media group Georg von Holtzbrinck to exit. The corporate’s Holtzbrinck Digital subsidiary was part of an $18.4m round in 2014 and added an undisclosed amount later that year.

Funding

China-based silicon carbide epitaxial wafer producer Tian Yu Semiconductor Energy has received RMB1.2bn ($177m) from investors including copper foil manufacturer Guangdong Jia Yuan Technology. The round also featured China-Belgium Direct Equity Investment Fund, Technology Financial Group, China Merchants Capital and Qianchuang Capital.

Company Company description Sector Country Round Round size($m) Deal date Investors
InfluxData Analytics platform for time series data IT US E 81 08/02/2023 Citi (Citi Ventures) (co-lead); Princeville Capital (co-lead), Battery Ventures, Mayfield Fund, Trinity Ventures, Norwest Venture Partners, Sorenson Capital, Harmony Partners, Sapphire Ventures
FreshToHome Online meat and seafood retailer Consumer India D 50.1 09/02/2023 Amazon; Investcorp
Light Field Lab Holographic display technology producer IT  US N/A 50 08/02/2023 NCSoft (lead), Corning, LG (LG Tech Ventures), Samsung (Samsung Ventures), Verizon (Verizon Ventures), Robert Bosch (Robert Bosch Venture Capital), Liberty Global (Liberty Global Ventures), Otoy, Forvia; Gates Frontier, Khosla Ventures, Taiwania Capital
Ionblox Lithium-ion battery developer Energy and Natural Resources US B 32 08/02/2023 Lilium, Applied Materials (Applied Ventures); Temasek, Catalus Capital  
Zypp Electric Electric vehicle-based last-mile delivery service Services India B 25 08/02/2023 Gogoro (lead), Goodyear Tire & Rubber (Goodyear Ventures); 9Unicorns, Venture Catalysts, Indian Angel Network, Ivygrowth, Grip, We Founder Circle
Fabrum Modular cryogenics system provider Industrial New Zealand A 23 08/02/2023 Fortescue Metals Group (Fortescue Future Industries), Obayashi Corporation; AP Ventures (lead), K1W1
TDGA Space entertainment services provider Media UK Seed 20 08/02/2023 NewMedia Holding (lead)
Tazapay Cross-border payment platform Financial Singapore A 16.9 09/02/2023 Escape Velocity, PayPal (PayPal Alumni Fund), Credit Saison (Saison Capital); Sequoia Capital Southeast Asia, Foundamental, January Capital, RTP Global, Gokul Rajaram
Yodawy Pharmacy benefits manager Healthcare Egypt B 16 09/02/2023 Delivery Hero (Delivery Hero Ventures) (co-lead); Global Ventures (co-lead), AAIC Investment, Dallah Al-Baraka, Middle East Venture Partners, C Ventures, P1 Ventures
Fierce Financial asset management platform Financial US Seed 10 08/02/2023 Pendrell; AP Capital, Wheelhouse Digital Studios, Space Whale Capital
Wevnal Digital marketing platform Media Japan B1 7.6 08/02/2023 Mitsubishi UFJ Financial Group (Mitsubishi UFJ Capital), Mizuho Bank (Mizuho Capital); JIC Venture Growth Investments, Archetype Ventures
Sesame Labs Web3 marketing platform  Media US Seed 4.5 08/02/2023 Samsung; Wing Venture Capital (co-lead), Vinay Jain (co-lead), Aman Jain, (co-lead), Double Jump Capital, Moonfire, Twin Ventures, Balaji Srinivasan, Robin Chan, Ryan Spoon, Forte Ventures
Nagasuna Mayu Silk protein material producer Industrial Japan N/A <1 ($570,000) 08/02/2023 Mitsubishi UFJ (Mitsubishi UFJ Capital); Rheos Capital Partners, Light Up Ventures
Enmacc Energy trading digitalisation platform  Energy and Natural Resources Germany B N/A 08/02/2023 Enagás/Alantra Group (Klima Energy Transition Fund) (lead), Chevron (Chevron Technology Ventures); Bayern Kapital, 10x Group, Piton Capital, Illuminate Financial
APK Solvent-based recycling technology producer Energy and Natural Resources Germany N/A N/A 08/02/2023 LyondellBasell, Kirkbi
Globe Ing Strategic consulting service Services Japan N/A N/A 09/02/2023 Persol (Persol Technology)
Delizmart Food retail digitalisation platform Consumer Japan Angel & Seed N/A 09/02/2023 Gree (Gree Ventures); East Ventures
Peers Metaverse-based live entertainment and fan community operator Media Japan N/A N/A 09/02/2023 Super Massive Global (unnamed CVC unit)
Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.
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