Financial

The insurance firm's corporate venturing unit has admitted external limited partners for its AFV Fund III, which just closed at $213m.

US-based business finance provider Kabbage, which has a host of corporates as backers, will be acquired by payment processing firm American Express.

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

Morgan Creek Digital has led a round that pushed digital currency product developer BlockFi's total funding past the $160m mark.

Medical care crowdfunding service Waterdrop has confirmed it raised $230m in its series D round, which was co-led by Swiss Re and Tencent.

Sony was among the investors contributing to a $46.5m close of a round for the insurance software provider that includes Signal Iduna, SBI and Mitsui Sumitomo Insurance.

MassMutual Ventures helped the multi-currency mobile wallet developer increase the round from $11m to $15m and its overall funding to $20m.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Lloyds and Nationwide Building Society contributed to a round that pushed the payment software provider's overall funding to $51m.

The Alphabet and Roc Nation-backed share trading service boosted its valuation from $8.3bn to $11.2bn in the space of a month after series G funding from D1 Capital Partners.

American Express will acquire the SoftBank, UPS, Santander and Recruit-backed business lender's assets excluding its loan portfolio, for a reported price $350m lower than the valuation for its last round.