Fundraising

Axa accelerates to $295m close for second growth vehicle
AVP Growth Fund II has secured half of its targeted close and will back early to late growth-stage developers of fintech, healthtech, insurtech and enterprise software.
TDK to deploy $150m through second fund
TDK Ventures has closed its second fund, which is three times the size of the debut vehicle it launched nearly two years ago.
NGK kicks off $100m corporate venturing fund
Pegasus Tech Ventures will help the spark plug and ceramic manufacturer back global entrepreneurs working on healthcare, distributed generation and automotive innovation.
Sawari Ventures secures Misr as LP
Misr Insurance Group has backed a final close of about $70m for the Egyptian venture firm's latest fund.
Cisco allocates capital to Algebra Ventures fund
Algebra Ventures is seeking a $90m final close for a fund that has reportedly secured Cisco as a limited partner.
Asahi Kasei creates second accelerator
Life Co-Lab targets entrepreneurs working on smart city and home technology and follows a similarly themed Asahi Kasei Home Products Accelerator in 2019.
Merlin magics up investment unit
Merlin Ventures' growth initiative is set to provide up to $5m in funding for cybersecurity software developers.
Corporate venturing deal net: 29 March-1 April 2021
Each week the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Other News

Line Ventures and YJ Capital join forces
The units have combined to form Z Venture Capital following the merger of their parent companies, and will invest out of a $271m fund.
Fujitsu finds cash for corporate venturing fund
The electronics manufacturer has allocated $90.3m to a vehicle that will invest across Japan, the United States, Europe and Israel.
Singular ends first fundraise with $265m
The recently launched venture firm has secured capital commitments to its debut fund from investors including Axa and MACSF.
Corporates help Dragonfly Fund II mine $225m
Blockchain-focused venture firm Dragonfly Capital Partners’ second vehicle has partnerships with Bitmain, Bybit, Huobi and OKEx.
BBG bags $50m for third fund
Verizon Ventures was the first limited partner for the female-focused venture firm’s new fund, while Nordstrom is also a limited partner.
Nextblue nets corporates for first fund
Marui Group, Q’sfix and Giftee have contributed to a $13.7m first close that represents half of the fund's target for its final close.

Editor's Picks

Brazil adds triple fundraisings
The three funds comes as Daniel de Macedo switches role and a new trade body committee is set up for CVCs.
Orange spins off corporate venturing unit
Orange Ventures has been spun off into an independent venture firm with an extra $426m from its former parent company, and added Mathieu de La Rochefoucauld as managing partner.
Daimler spins off innovation unit
Daimler will retain 10% of 1886Ventures, which has been formed out of its 1886Labs unit, and will be a client of Deloitte's Digital Ventures team.
SR One spins off with $500m
GlaxoSmithKline's corporate venturing unit is now an independent firm with a $500m fund anchored by its former parent.
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