Financial

The pharmaceutical company's acquisition of Novartis-backed IFM Therapeutics, consisting of $300m upfront and up to $2bn in milestone payments, is its fourth purchase of a CVC-backed company in under four years.

More value and focus should be on the investors scaling up the business rather than those coming up with the idea and helping the entrepreneur set up a business.

Mobikwik has received $35.3m from new strategic partner Bijaj Finance as it looks to expand its mobile payment and wallet platform into lending and insurance.

Existing investor SoftBank has agreed to invest $250m in the small-business lender, increasing its overall funding to about $490m since 2009.

IGM Financial has returned to lead a $40m extension to the digital asset manager's series E round that was raised at a higher valuation than the first two tranches.

Singapore's GIC led the Bohai Leasing-backed online lender's latest round, which follows a $207m series C co-led by Standard Chartered Bank in 2015.

Visa led the payment card issuing platform's latest round, which included two more corporates: CreditEase and existing investor CommerzVentures.

The American Express and Deloitte-backed cloud financial management software developer has agreed to an acquisition by enterprise software producer Sage.