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Corporate venturing deal net: 18-22 March 2019
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Corporates drive $1.46bn ride hailing venture
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.
UiPath searches for $400m in new round
CapitalG-backed UiPath is in the process of raising $400m in a round that will be led by an unnamed public institutional investor at a $7bn valuation.
Marqeta marks out terms for $250m round
The payment card services provider, which counts Visa, Commerzbank and CreditEase as investors, will seek a valuation of almost $1.9bn in the round.
Rent the Runway models $125m investment
The Advance Publications-backed clothing rental service is now valued at $1bn, having received $125m from a consortium co-led by Franklin Templeton Investments and Bain Capital Ventures.
Tarana wires in $88m
AT&T and Deutsche Telekom-backed wireless internet system developer Tarana added $60m from investors including EchoStar to close the round.
Markforged assembles $82m in series D funding
Microsoft subsidiary M12, Siemens' Next47 fund and Porsche all invested in the industrial 3D printer producer's latest round, which lifted its overall funding to $139m.
Splice tunes into series C funding
The WME and AM Only-backed music production platform has now raised approximately $100m in total, following a $57.5m round co-led by True Ventures and USV.

News Continued

Corporate-backed NewMargin edges to $187m
The investment firm, which counts several corporates as backers, has completed the first close for a fund with a $1.48bn target, following commitments from China Everbright Trust and two state-backed funds.
Megvii to segue to $800m IPO
The Alibaba, Foxconn, Legend Holdings and SK Group-backed image recognition software provider is reportedly weighing up New York and Hong Kong for an $800m initial public offering.
OpenDoor closes $300m in funding
The real estate services platform secured the cash at a $3.8bn valuation, with Lennar, SoftBank Vision Fund, Access Technology Ventures and new investor GV all participating.
Fastly to deliver initial public offering
Edge cloud platform Fastly has hired Bank of America to oversee an IPO valuing it at $1bn which would provide exits for Swisscom, Deutsche Telekom and O’Reilly Media.
Prudential makes Point in $122m round
Home equity investment service Point has raised $22m in series B funding from investors including Prudential and Bloomberg, and $100m in platform financing.
Starbucks pours $100m into Valor fund
Valor Siren Ventures I has signed up Starbucks as a cornerstone investor as it seeks to close its fund at $400m to back food and retail technology developers.

Editor's Picks

Lyft accelerates towards $2.1bn IPO target
Lyft has set the range for an IPO that would allow Alphabet, Rakuten, GM, Jaguar Land Rover, Alibaba, Didi Chuxing, Magna and Icahn Enterprises to exit, valuing it at up to $22.9bn.
Big Deal: Vision Fund makes billion-dollar Grab
SoftBank Vision Fund invested $1.46bn to take Grab's series H round, already backed by Toyota, Hyundai, Kia, Booking Holdings, Central Group, Yamaha, Ping An, Microsoft, Tokyo Century and KBank, to $4.5bn.
YY captures Bigo for $1.45bn
Bigo, a social video livestreaming platform, has been acquired by its existing shareholder YY for more than $1.45bn in a deal that also provided exits for Ping An and Bertelsmann.
Lyft revs up IPO filing
Rakuten, General Motors and Alphabet own a combined 26% share of the ride hailing platform, which has filed to go public and which was valued at more than $15bn as of last June.
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