Financial

UChicago once again invested in Kin Insurance, participating in a $63.9m series C round that brought its overall funding to nearly $150m.

Founded at Imperial Collge London, Sprout three years ago, Sprout.ai has now secured $11m in a series A round led by Octopus Ventures.

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.

Hanaco and PayPal are set to exit Divvy, a provider of corporate spend management software, at a 56% premium to the valuation at which they invested in January.

Bitmain and DRW subsidiary Cumberland Mining are set to exit the crypto finance software provider five years after their investment.

Opioid addiction care provider Groups Recover Together and healthcare management platform developer Vim each raised $60m, with Optum Ventures backing both rounds.

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.

BitFury is set to exit the crypto wallet developer through a cash-and-stock acquisition by another investor, Galaxy Digital Holdings.

The Coinbase, Ripple and Monex-backed Latin American crypto trading platform was valued at $2.2bn in a round co-led by Tiger Global Management and Coatue Management.

Venture firm Launchpad Capital has been founded by Ryan Gilbert after five years as a general partner for BBVA-backed Propel Venture Partners.