The two rivalling US-based ride hailing platforms Uber and Lyft, both counting many corporates among their backers, are preparing to float on public markets in the coming weeks, with the valuations of the two combined likely to stand well above $100bn

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

Alibaba, Chongqing Changan Automobile, Dongfeng Motor, FAW, Suning and Tencent have joined forces to form a $1.46bn vehicle that will invest in the on-demand ride space.