News round up 2 January 2018

A round up of all the latest news on for our subscribers.


RDIF and CDC wrap up $89m funding agreement

The state-owned Russian Direct Investment Fund and CDC International Capital will invest in SMEs with business potential in both France and Russia.

Choose your top GGV article of 2017

Global Government Venturing invites its subscribers to choose the most important read of the year.



EIF catches Fly Ventures for $41m fund

European Investment Fund was among the LPs for AI-focused venture capital firm Fly Ventures' first fund, which has closed at $41m.

Food Works dishes up 2018 lineup

Origin Clean, Jupsy, Feed and Wellnice will take part in the accelerator, which is run by Bord Bia, Teagasc and Enterprise Ireland.

SamInvest jumps into $119m life sciences fund

The fund will back life sciences technology developers located in areas of Europe underserved by venture capitalists, particularly in the Nordic region.

EIF backs $160m Nordics-focused fund

Finland-based Inventure Partners’ third fund will enter seed and series A rounds for businesses from the Nordic and Baltic regions.

China and UK launch $1bn fund

The two partners will support projects that fall under China’s Belt and Road Initiative, with the fund managed by institutional investors from both countries.



WM Motor revs up with new funding

China Structural Reform Fund has joined Tencent, Wukuang Capital and Sequoia China to invest in the electric car developer.

Forsee plugs into EIB funding

European Investment Bank joined Idinvest Partners and Mitsui for a $65.4m round for smart battery system producer Forsee Power.

Enterprise Ireland finds Clavis exit

E-commerce analytics provider Clavis has been bought by business data provider Ascential in a deal worth at least $119m.

Alize aligns itself with Millendo

Obesity drug developer Alizé Pharma has been picked up by biopharmaceutical firm Millendo, allowing BPifrance to exit.

Coverfox covets $10m from IFC

International Financial Corporation is analysing a potential investment in insurance platform Coverfox, which closed a $15m series C round in June.

Temasek helps Tessa tie up $80m

Tessa Therapeutics, a developer of cancer treatments that could destroy tumours from within, has raised $80m from investors also including EDBI.

Skymet forecasts KfW-backed series C

Skymet hopes to use its network of 6,000 automatic weather stations to provide businesses with information of climate, crops and extreme weather events.

MyDoc prescribes $5.2m series A

MyDoc is preparing the ground for its enterprise healthcare platform to launch in Asian markets like Sri Lanka or Hong Kong.

Leadspace leaps into series C

The $21m in capital will be used to expand Vertex-backed Leadspace’s headcount in the US and Israel.

Mellon fastens $7m round

State-owned development agencies Oost NL and Brabantse Ontwikkelings Maatschappij have both backed Mellon, which has developed a device that stitches surgical incisions.

Deal net: 18 – 22 December 2017

The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.


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