Sector Analysis

Marketing platform developer Workfront agreed to an acquisition by Adobe, giving an exit to Susquehanna International Group. An exit of this size has not been seen in the corporate-backed digital marketing space so far, according to our data.

Sector challenged amid fintech disruption

IQM Quantum Computers has raised a series A round that included Tencent, among other investors. The technology is still in its infancy and our data suggest that few corporates have so far backed such enterprises but this may change in the future.

China-based financial services provider Ant Group, spun off by e-commerce group Alibaba, intended to float on the Shanghai and Hong Kong stock markets.

Ant Group, the financial services subsidiary of China-based e-commerce group Alibaba, was due to raise a targeted $37bn in a dual listing in Shanghai and Hong Kong but the mega-initial public offering was unexpectedly blocked by an intervention from financial regulators in Beijing at the eleventh hour.

Alibaba´s financial subsidiary Ant has received approval from regulators which will allow a dual listing on the Shanghai and Hong Kong stock exchanges and enable it to raise up to $35bn at a reported valuation of $250bn.

US-based vegetarian food producer Livekindly Collective closed $135m in funding from investors including food ingredient developer Griffith Foods.

Eli Lilly is to exit the genetic sequencing system provider Readcoor in a cash-and-share acquisition by 10x Genomics. This is one of the relatively few exits we have seen in this space over the past decade.