IT

Allianz and White Mountains Insurance helped Pie Insurance raise $315m while Cargill and ADM chipped into Innovafeed‘s $250m series D round.

The Deutsche Telekom spinoff’s Growth Equity III Fund has completed a $300m first close backed by its former parent company as well as SoftBank.

DG Daiwa Ventures contributed to a $40m series B round for Yellow Card Financial while Vitol provided $37m in series C funding for VavaCars.

Corporate investors have a new financial incentive to invest in renewables and climate technologies that often proved economically unviable in the past.

Novo Holdings led a $75m series C round for Kate Farms while PayU and InfoEdge Ventures participated in DotPe’s $58m series B.

Instead of buying Figma for $20bn Adobe might have been better served by expanding its CVC programme. A deal to take out one competitor is standard business practice but doesn’t fix Adobe’s burning platform.

Alphabet led a $1bn round for its life sciences unit, PTT bets on insect startup and corporate-backed Propzy is set to shut down.

Intuitive Surgical was part of Galvanize Therapeutics’ $100m series B round while Intel Capital participated in a $90m series C for Fortanix.

Telecoms investment funds had a boom in 2014-16 which has not been repeated since. But 2021 saw signs of an uptick with telcos in emerging markets creating investment funds.