IT

The venture fund, focused on companies out of MIT, Harvard and Rochester, has collected more than $191m on its way to a $325m target.

Legend Holdings' Legend Star unit led a round for optical chip producer Turing Quantum sized above $15m while several Japanese companies also raised money.

The photonic computing technology spinout of MIT has now pocketed $113m in funding altogether.

Alphabet, Hewlett Packard Enterprise and Lockheed Martin invested in the photonic computing technology developer’s series B round, increasing its total funding to $113m.

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.

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

Nvidia participated in a round valuing the data storage technology provider, which counts Dell, Siemens and Mellanox as investors, at $3.7bn.

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.

The corporate-backed lidar technology provider will now be valued at $1.52bn pre-acquisition rather than the $1.9bn figure when the deal was announced in February.