Energy

With the support of ten energy utilities, Free Electrons will accelerate energy-related developments in IoT, smart grids and efficiency technology.

Total Energy Ventures will invest approximately $48m in the new energy fund as one of its three anchor partners, on the way to a $239m close.

Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.

Ultimately, those unwilling or unable to compete at the top end of creating market-leading companies risk effectively bringing a knife to a gun fight - they can win sometimes in some areas, but the chances might be against them.

Eric Vincent, formerly Engie's deputy director of corporate venture capital, has been hired by Demeter Partners as a partner.

MIT spinout Commonwealth Fusion Systems has launched with $50m in capital from energy utility Eni to develop fusion power.

Innovative region: Canada

Sector focus: Industrial

Salesforce is expecting to exit the file storage and sharing platform Dropbox, which filed for an IPO after having raised more than $1.7bn in debt and equity financing.