Consumer

Four years after establishing the European branch of electronics producer Samsung's corporate venturing arm, Michael Jeon will be moving to the US to oversee its mobile and digital investments.

Gree Ventures, the corporate venturing unit of mobile social company Gree, has reinvested in Singapore-based online cosmetics and beauty shop Luxola, which has followed up a reported $2m series A round last year with a series B round worth a reported $10m.

OpenTable, an online restaurant reservation provider, has acquired SingTel and Amex-backed Ness Computing, a US-based provider of personalised restaurant recommendations, for $17.2m.

Nokia Growth Partners, alongside existing investor Kleiner Perkins Caufield & Byers, has invested $10m in a series B round of funding raised by China-based online food ordering company Meican. Food-delivery companies are growing in popularity across Asia, especially in China, as the number of internet users increases and a burgeoning middle class with disposable income turns to ordering food online.

Byecity, a Chinese website providing travel and tourism information, has raised approximately $20m in a series B round of funding provided by Alibaba Capital Partners and CBC capital.

US retail company Target has selected the first five startups to participate in its new India-based accelerator.

Microsoft Ventures and Espirito Santo Ventures will be joined by another corporate venturing unit, Qualcomm Ventures, and will seek to secure up to BRL 300m ($127.8m) for the fund.

Notably many large deals this year are now happening in China rather than in the US, as a potential reflection of its larger market for internet users and competitive ecosystem.

Tencent Holdings, the corporate investing unit of China internet group Tencent, has formed a strategic partnership with China e-commerce site, JD.com, which included Tencent acquiring a 15% stake in the business for a reported $214.7m. The move will enable Tencent to gain traction in the China market and beef up its competitiveness against the likes of other internet commerce sites, such as Alibaba.