Energy

May was a busy time for exits; GCV reported various multimillion and multibillion deals across sectors.

We provide a brief overview of some of the notable exit transactions reported last week. They highlight a broader upward trend in exit transactions for corporate investors, which we have been tracking for some time now.

Sector report: Media

Kyocera, Mitsui Fudosan and Japan Post hepled satellite technology developer Axelspace complete its series C round while PayPal is buying portfolio company Happy Returns.

Short-term accommodation provider Cohabs secured more than $70m in a round led by AG Real Estate, while Stampli, Impress and Tarana Wireless each raised $50m.

Human resources software provider Legion and edge cloud services provider Zenlayer each received $50m while Intel is exiting Sedona Systems in a $100m acquisition.

Bertelsmann helped crypto financial service provider Babel Finance close a $40m series A round while Blind raised $37m from investors including Cisco.

SoftBank vehicle SB Energy and BASF contributed to a $250m PIPE financing that will support the merger with the Nasdaq-listed Acon S2 Acquisition Corp.

Solid-state battery developer Solid Power secured a $130 series B round co-led by its potential customers from the automotive sector BMW and Ford Motor Company.

A decade or more after setting up the golden age of corporate venturing units were set up with a focus on life sciences and healthcare, such as US-listed conglomerate Alphabet’s GV (formerly known as Google Ventures) and US-listed drugs company Merck’s Global Health Innovation Fund (GHIF), and the returns have surpassed many expectations.