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Corporate venturing deal net: 9-13 December 2019
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Petronas puts $250m fund into operation
Petronas has closed a $250m fund for venture capital subsidiary Piva to strike deals in Europe and North America focusing on future energy, industrial and materials technologies.
Ucommune works its way toward public markets
Ucomme has formally filed for a $100m initial public offering, confirming months of reports and putting Beijing Xingpai, Dahong Group, Junfa Group, Prosperity Holdings and Yintai Land in line for exits.
Telkom Indonesia and KB kick off $150m fund
Corporate venturing vehicles MDI Ventures and KB Investment have formally announced their Centauri Fund, which has a $150m target for its close.
Sparkplus finds space for series B funding
The co-working space provider picked up $25.2m from backers including Asia Cement and founding investor Aju Hotels and Resorts.
Carsome caches $50m
The Hubert Burda-backed second-hand car marketplace has now raised $85m in total, MUFG Innovation Partners and Daiwa PI Partners chipping in for its series C round.
WeLab produces $156m result
Alibaba Hong Kong Entrepreneurs Fund was one of five returning backers to reinvest in the online lending platform as part of its series C round.
HappyEasyGo moves to $49m round
Samsung Venture Investment Corporation has helped the flight-booking platform raise nearly $49m that will help it expand its hotel-booking services.

Other News

LandSpace rockets to $71m series C
Country Garden Venture Capital led a round that will support the development and launch of 36Kr and Goldwind-backed LandSpace's next rocket model.
Vertex closes Master Fund at $730m
The firm has confirmed the closure of its Master Fund, which features NEC Capital Solutions, Marubeni, SMBC, ABeam and Aozora Bank among its LPs.
Molbase assays $70m IPO
Fosun is in line for an exit after chemicals trading platform Molbase filed for an initial public offering in the US with a target size of $70m.
Nium aims for $100m in series D transfer
The corporate-backed cross-border money transfer platform is seeking between $75m and $100m, with a US strategic investor set to lead the round.
Zentalis zips to $85m series C
Pharmaron-backed Zentalis Pharmaceuticals has now secured $147m altogether and will advance its breast cancer and solid tumour candidates through clinical trials.
Joinn Biologics connects to $60m
China Union Holdings has invested in the clinical services provider, which was formed by Joinn Laboratories last year and which will put the cash into expanding manufacturing capacity.

Editor's Picks

Sovereign wealth funds cool on Vision Fund II
Public Investment Fund and Mubadala, which put up a total of $60bn for the first Vision Fund, are reportedly looking to downgrade their exposure to the second vehicle, as We Company postpones its IPO.
Megvii makes for Hong Kong to IPO
The Alibaba and Foxconn-backed facial-recognition technology developer has filed for an offering that is reportedly set to raise $500m to $1bn.
Naspers reaches Meesho in $125m round
Facebook provided $25m for the social commerce marketplace as part of a Naspers-led round that has been set to value it at up to $650m.
Delight Ventures marks its independence
Managing partner Dai Watanabe discusses the unit’s strategy and how it will work with entrepreneurs and DeNA’s employees.
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