Financial

Alibaba´s financial subsidiary Ant has received approval from regulators which will allow a dual listing on the Shanghai and Hong Kong stock exchanges and enable it to raise up to $35bn at a reported valuation of $250bn.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Alibaba and Lenovo both took part in a series B round for the digital wealth manager incubated at Hong Kong University of Science and Technology.

Long-term backer Alibaba Hong Kong Entrepreneurs Fund and new investor Lenovo Capital both took part in the digital wealth manager's pre-series B round.

Nine companies will participate in the internet company’s three-month accelerator programme, which is set to launch next month.

Alibaba is set to retain a 32% stake in its financial services spinoff, which has secured regulatory permission for a dual listing that could value it at more than $250bn.

The UnitedHealthcare-backed health insurer has announced a $105m series B round that comes after a $70m round two years ago.

TransUnion has contributed to a series A-1 round for the financial management and advice app developer as part of a commercial partnership deal.

The Mexico-based challenger bank secured $15m in a Prosus Ventures-led round that included the Santander-sponsored Mouro Capital.

Tom Whitehouse, CEO at Leif Capital, moderated a discussion comparing cleantech investment with the first decade after the millennium.

Formed in the Big Bang, hydrogen is the most abundant element in the known universe and believed to comprise about 75% of matter. Hydrogen, therefore, is seen as one of the key elements in targeting net zero carbon emissions.