Consumer

The pharmaceutical company's acquisition of Novartis-backed IFM Therapeutics, consisting of $300m upfront and up to $2bn in milestone payments, is its fourth purchase of a CVC-backed company in under four years.

More value and focus should be on the investors scaling up the business rather than those coming up with the idea and helping the entrepreneur set up a business.

Corporate-focused food ordering platform Meican, which counts Nokia and Meituan-Dianping as investors, has raised cash in a Goldman Sachs-led round.

Revolution Growth led the item location technology developer's series B round, which included corporate venturing units Amazon Alexa Fund and Docomo Capital.

The China-based company, which is using technology to streamline the operation of food courts, has secured an eight-figure sum in a round co-led by Bertelsmann Asia Investments.

Despite the breakdown Flipkart's proposed acquisition of SoftBank-backed Snapdeal, Vision Fund is in talks with the online marketplace over an investment of $1.5bn to $2bn.

The e-commerce platform, backed by investors including SoftBank, Intel and Alibaba, has decided against a $950m sale and elected to instead restructure.

Skyler Fernandes has become a managing director of investments at Cleveland Avenue having left Simon Ventures in February.