The new fund will help Jump push cryptocurrency investment further, in addition to commerce, media and fintech. “There is potentially a generational opportunity in the crypto space,” says Sach Chitnis, who started the fund with Mike McMahon. “We want to make sure we have the resources.

The company has made dozens of crypto investments, including BitGo, a San Francisco-based company that is in the process of being acquired for $ 1.2 billion. “While we take a more concerted step towards crypto, the majority of the new fund will be the same,” Chitnis said.

At $ 350 million, the new fund will be one of the largest raised by a Chicago venture capital firm. This is one of many new funds raised recently, including S2G Ventures, which raised a fund of $ 550 million, and Lightbank, which closed a follow-up fund of $ 180 million.

Jump has traditionally focused on investments of $ 2-10 million.

“It’s great to have them in the market to deploy capital,” said Ira Weiss, partner at Hyde Park Venture Partners, who has invested in deals with Jump. “They have been very successful. They have a team that can roll up their sleeves and really help.

Jump’s investments in Chicago include M1 Finance, which was recently valued at over $ 1 billion, Narrative Science, and LogicGate. The company also backed Fast Radius, a Chicago-based 3D printing technology maker, which said it would go public in a merger with a specialist acquisition company, or SPAC.

JAKARTA / SINGAPORE – Two leading venture capital firms in Southeast Asia are doubling down on their tech ecosystem, one on track to potentially raise $ 350 million for its latest fund and the other by renaming the one existing in the region as they prepare to nurture a new generation of promising startups.

This optimism is fueled by the momentum generated by upcoming IPOs of first-generation startups as well as the rapid growth in the number of internet users in key economies in the geographic area.

Jungle Ventures, one of Southeast Asia’s oldest venture capital firms, confirmed to Nikkei Asia that it recently closed its fourth fund for the first time at $ 225 million, already close to $ 240 million. million dollars raised for its third fund. Existing partners such as Singaporean public investor Temasek Holdings, the World Bank affiliated International Finance Corporation and “some of the largest regional family offices” participated in the fundraiser, said Amit Anand, founding partner of VC.

Anand added that Jungle is seeking to raise a total of $ 350 million for the fund. The fourth fund is expected to invest in around 15-20 “early stage, high growth companies,” according to a disclosure from IFC, the fund’s sponsor.

The first close of its fund by Jungle comes after 500 American startups renamed its Southeast Asian fund in August. Vishal Harnal, managing partner of 500 South East Asia Startups, said the rebranding shows his “increased commitment to continue investing and expanding our business across South East Asia.”

He declined to say if 500 startups were planning to launch a new fund, but said he was actively hiring and training staff across the region. He said the company is primarily focused on Indonesia, Malaysia and Singapore, and will see Vietnam and the Philippines as the next markets.

Southeast Asia’s internet economy reached $ 105 billion in 2020, up from $ 32 billion in 2015, according to a report from Google, Temasek and Bain & Co. The region has also spawned several unicorns , private companies valued at over a billion dollars, which have gone to public markets.

But “whatever we see today, the numbers are absolutely tiny compared to what will happen in the next 5 years,” Anand said. Jungle Ventures founding partner estimates that by 2025, valuations of Southeast Asian tech companies that have gone public will total $ 1,000 billion. “In our view,” he said, “companies of $ 30 billion to $ 40 billion are in the pipeline in the next few years, including some of our portfolio companies. “

Southeast Asia’s young and internet-savvy population has long provided a tailwind to the region’s tech sector. But other fundamentals are also strong. In 2020, the region had 40 million new Internet users, up from an additional 100 million between 2015 and 2019. Of the 583 million people in six countries – Vietnam, Thailand, the Philippines, Malaysia, Singapore and the Indonesia – 70% are now. online, according to the Google report.

More recently, the move to public procurement of some of Southeast Asia’s leading tech companies has put the region on the radar of global investors.

Singapore’s Sea, known for its e-commerce brand Shopee, in 2017 became a pioneer of the IPO in the United States. Indonesian e-commerce platform Bukalapak’s IPO in August was the largest ever by the country. The Singapore-based super app Grab’s deal to list through a special-purpose acquisition company valued it at $ 40 billion. Fintech company FinAccel will also be listed in the United States via a SPAC, a deal that values ​​the company at $ 2.5 billion.

These public lists “create the final chapter in the history” of Southeast Asia’s tech ecosystem, Anand said. “Everyone was curious [about what the exits would] look like, and they look like blockbusters. … Investors are now well beyond Southeast Asia’s limit when it comes to asset allocation, and I believe these numbers will continue to grow just as rapidly over the next few years. “

Harnal of 500 startups agreed. “There is so much momentum,” he said. “So much capital also goes into the ecosystem.” Investing in startups in Southeast Asia was “an acquired taste for a few people,” but now the region “has become its own region which does not need any support,” he added. “What we have done over the past seven years is just a prologue. It is just the start, and we are very excited to continue and double our business in South Asia. East.”

Shopee, Singapore’s Sea’s e-commerce brand, is one of several Southeast Asian success stories that are attracting investors to the region. © Reuters

500 start-up-focused startups have invested in around 250 companies through its funds in Southeast Asia and boast both Grab and Bukalapak as holding companies. Jungle Ventures, meanwhile, has invested in 35 startups through its funds, including seven exits. FinAccel, which announced the $ 2.5 billion PSPC deal in August, is part of its portfolio.

The growing business enthusiasm for investing in Southeast Asia comes as the COVID-19 pandemic continues to ravage the region. But both VCs say the pandemic is accelerating the digitization of economies as more and more people use internet services in their daily lives.

“While intermediate volatility will affect the way companies operate and will determine the very short-term result, from a medium to long-term perspective [COVID-19] has no negative impact [the startup space] at all, “Anand said.” I haven’t seen any concerns in terms of investor appetite for Southeast Asia because of COVID. “

Harnal of 500 startups said that “Overall there could be a slowdown. But some industries are increasing despite the overall slowdown. One of the biggest is technology.”

He noted that Southeast Asian technology has mainly focused on “Tier 1” cities such as Jakarta and Bangkok. “Now he’s going beyond these cities to tier 2, 3 and 4 cities,” he said. As a result, “the majority of the population of Southeast Asia benefits from technology and advances in technology.”

“Sustainable cities” are now one of the priority areas of 500 Startups. According to Harnal, “there is finally a change in consumer and government behavior,” a reference to a top-down approach by governments to the environment, such as banning plastic bags. These changes have “created real opportunities for startups to grow,” he said.

Investors and founders “pay more attention” to ESGs, said Anand of Jungle Ventures, referring to environmental, social and governance issues. “At the semi-annual general meeting in May, I had five or six sponsors who came to see me and said: ‘Are you going to invest in [things like] climate technology? ‘”he said.

But while ESG investing has taken off in the West, “in the short term, I think the region is still lacking deal flow,” Anand added. “The jungle and its peers should invest money in these areas, but we would need to see the right business models and the right talent.”

After remaining sluggish at the start of the month, venture capital activity picked up during the second week of September. No less than 32 Indian startups raised more than 315 million USD from September 5 to 10. Logistics platform Delhivery leads the pack with an investment of $ 76 million, followed by overseas education platform Leap which absorbed $ 55 million as part of the Series C funding. HomeLane, the home interiors startup, which mopped up a $ 50 million Series E funding round.

Here is the weekly round table of Indian startups for the second week of September

HomeLane, India’s Choice for One-Time Home Interiors, has announced a $ 50 million Series E financing round, led by IIFL AMC’s Late Stage Tech Fund, OIJIF II (Oman India Joint Investment Fund ) and Stride Ventures.

Agro-tech start-up Farmers Fresh Zone raised Rs 6 crore in a pre-Series A round from existing investors led by Indian Angel Network (IAN).

Prior to its IPO, Gurgaon-headquartered Delhivery raised $ 76.4 million from Lee Fixel’s venture capital firm Addition in a Series I funding round,

Nova Benefits, an employee wellness platform focused on corporate health insurance, has secured $ 10 million in funding, led by Susquehanna International Group (SIG) and Bessemer Venture Partners.

Leap has raised $ 55 million in a series of Series C financings from Owl Ventures, Harvard Management Company, Jungle Ventures and Sequoia Capital India.

Biotech startup IimmunitoAI said on Wednesday it had raised $ 1 million (over Rs 7 crore) in a seed funding round led by early stage venture capital fund pi Ventures.

CollegeDekho, a university admissions and education services platform, said on Wednesday it had raised $ 26.5 million (around Rs200 crore) in an ongoing funding round.

Agritech startup InfyU Labs raised Rs 1.8 crore in an IAN funding round.

Bengaluru-based tech start-up Neokred extended its startup cycle to raise an additional $ 500,000 in funding

WeRize, the socially distributed, full-stack financial services platform based in Bengaluru, announced on Wednesday that it had raised $ 8 million in Series A

VAHDAM India, which sells premium tea and wellness products, has raised Rs 174 crore from investors, including IIFL AMC’s private equity fund, to expand its business globally and enter new categories.

Bangladesh-based business-to-business (B2B) platform ShopUp, which merged with Bengaluru-based online fashion retailer Voonik in February 2020, raised $ 75 million in serial funding round B

Gigforce, the tech-focused, gig worker-focused staffing startup, said on Tuesday it had raised $ 3 million in a pre-Series A round led by Endiya Partners

Fleek, a Bengaluru-based subscription management platform, has raised $ 1 million in seed funding led by Axilor.

GoKwik – an e-commerce support company, whose mission is to democratize the shopping experience and increase GMV achievement for e-commerce businesses, raised INR 40 crore ($ 5.5 million ) during the pre-series cycle A.

Interior design startup Flipspaces has raised USD 2 million (around Rs 14.6 crore) from investors to fund expansion and growth plans. In a pre-series B round.

Zeotap, the next-generation customer data platform based in Bengaluru and Germany, has announced the raising of an $ 11 million extension of its Series C funding round.

Blockchain analytics startup BitsCrunch has raised Rs.5.5 crore in seed funding from a group of investors including tech firm Covalent, venture capital firms Double Peak and GenBlock Capital.

Pune-based food ingredients start-up Proeon recently raised INR 17.5 crore as seed money.

COGOS Technologies Pvt. Ltd, the Bangalore-based enterprise logistics company, announced on Tuesday that it had raised a total of $ 2 million in pre-Series A funding.

Mumbai-based gaming platform GameEon Studios has raised $ 320,000 in funding from the Mumbai Angels Network.

Healthcare logistics platform Biddano raised Rs 17 crore in fundraising round led by Coinbase and social media firm Pinterest board member Gokul Rajaram

B2B cross-border procurement and supply chain technology company Geniemode has raised USD 2.25 million (around Rs 16.4 crore) under the leadership of Info Edge Ventures.

Prolgae Spirulina raised $ 200,000 in a seed fundraiser from angel investor Vijayan.

Healthy food brand D2C Anveshan raised 3.67 crore rupees in funding round led by DSG Consumer Partners, with Titan Capital and Anjali Bansal from Avaana Capital

Bengaluru-based food tech startup GoodMylk has raised $ 1 million as part of a startup cycle extension from a group of domestic and international angel investors.

Drone delivery startup TechEagle Innovations Pvt. Ltd raised $ 500,000 in seed funding led by India Accelerator,

Startup Edtech Lido Learning has raised $ 10 million (around Rs 73.4 crore) from Ronnie Screwvala’s Unilazer Ventures.

Fieldproxy, a code-free SaaS platform to improve the productivity of field teams, today announced that it has raised 2 crore as part of its startup cycle.

Overseas education company Leap said it secured $ 55 million in Series C funding, led by Owl Ventures.

We Founder Circle (WFC) – a start-up investment platform, as an extension of its mission to fund early stage start-ups, has invested in Vidyakul, an online learning platform vernacular extracurricular line.

Coutloot, a Mumbai-based offline-to-online (O2O) social commerce platform raised $ 8 million in a pre-series funding round led by venture capital firm Ameba Capital.

Hype Luxury, a luxury car rental startup headquartered in Bengaluru, today announced in a statement that it has raised an undisclosed amount in pre-Series A financing

Dukaan, a retail platform that helps entrepreneurs set up an online store, has raised $ 11 million (around Rs 80.3 crore) under the leadership of 640 Oxford Ventures.

India and the US-based global media SaaS technology company Amagi Saturday said it raised more than $ 100 million in funding.

Chennai-based tech company ZohoZoho said on Tuesday it had invested Rs.35 crore in local MRI tech startup Voxelgrids

Boston-based deeptech startup Trillbit with an office in Bangalore raised $ 1.5 million as part of its seed fundraiser

A message from the editor:

After a strong month of July and August, the venture capital activity of startups in New York continues to be strong with more than $ 2.3 billion in new funding!

Today, I take stock of the state of venture capital and start-up financing for August 2021 in New York. By analyzing some publicly available data from our friends at CrunchBase, we break down the aggregate statistics for all funding transactions by funding stage (early stage [Pre-Seed, Seed], Series A, Series B and Final Stage [Series C+]) including mention of notable rounds. In order to maintain the focus on tech startups, this analysis does not include rounds for biotechnology, real estate, loan startups as well as debt finance.

AlleyWatch audiences drive progress and innovation globally. With its regional media properties, AlleyWatch serves as a highway for technology and entrepreneurship. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement in front, generation of leads, and development of thought leadership at scale. within our audience of key decision makers in the New York business community. and beyond. Find out more here.

The average seed cycle in New York in August was $ 3.4 million Tweet this
The median seed cycle in New York in August was $ 2.3 million Tweet this
$ 122.5 million was invested in the first funding rounds in New York in August Tweet this
15% of nationwide startup funding went to startups in New York in August Tweet this

AlleyWatch audiences drive progress and innovation globally. With its regional media properties, AlleyWatch serves as a highway for technology and entrepreneurship. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement in front, generating leads, and developing thought leadership within from our audience of key decision makers in the New York business community. and beyond. Find out more here.

The average round of Series A in New York in August was $ 10.9 million Tweet this
The median round of Series A in New York in August was $ 9.5 million Tweet this
$ 251.1 million was invested in Series A towers in New York in August Tweet this
13% of Nationwide Series A funding went to startups in New York in August Tweet this

AlleyWatch audiences drive progress and innovation globally. With its regional media properties, AlleyWatch serves as a highway for technology and entrepreneurship. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement in front, generating leads, and developing thought leadership within from our audience of key decision makers in the New York business community. and beyond. Find out more here.

The average round of Series B in New York in August was $ 42.7 million Tweet this
The median round of Series B in New York in August was $ 23.0 million Tweet this
$ 469.9 million was invested in Series B rounds in New York in August Tweet this
12% of Series B funding nationwide went to startups in New York City in August Tweet this

AlleyWatch audiences drive progress and innovation globally. With its regional media properties, AlleyWatch serves as a highway for technology and entrepreneurship. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement in front, generating leads, and developing thought leadership within from our audience of key decision makers in the New York business community. and beyond. Find out more here.

The average late phase round in New York in August was $ 106.9 million Tweet this
New York’s playoff median round for August was $ 51.0 million Tweet this
$ 1.5 billion was invested in end-of-cycle rounds in New York in August Tweet this
12% of late-stage funding nationwide went to startups in New York City in August Tweet this

AlleyWatch audiences drive progress and innovation globally. With its regional media properties, AlleyWatch serves as a highway for technology and entrepreneurship. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement in front, generating leads, and developing thought leadership within from our audience of key decision makers in the New York business community. and beyond. Find out more here.

$ 2.3 billion was invested in New York #startups in August in New York in 84 deals Tweet this
12% of startup funding nationwide went to startups in New York in August Tweet this
NYC VC funding in August was -43% from last month and + 113% from same period last year Tweet this

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In the first half of the year, foreign venture capital firms participated in a quarter of the nearly 2,400 venture capital transactions in the Greater China region.

With deals worth $ 56 billion in mainland China, Hong Kong, Macau and Taiwan, venture capital funding reversed sharply from 2020, when the market was slowed down by the pandemic. , according to a recent PitchBook report. In the first six months of the year, 24.6% of venture capital transactions in the region had at least one investor based outside of China, up from 22.4% in 2020. If the current pace of transactions continues, PitchBook expects capital investment to exceed $ 100 billion. by the end of the year, which would only be the second year on record with CR activity exceeding this level.

Cross-border venture capital firms, especially those headquartered in the United States, are drawn to the country’s burgeoning middle class and rapid technological development, according to the report. As Chinese regulators have stepped up their scrutiny of sectors, from gambling to out-of-school tutoring in recent months, crushing the value of some public stocks, the effect of the crackdown remains to be seen in the venture capital industry. Unlike listed stocks which can be bought and sold all day long, investments in venture capital funds are committed for many years.

“VC is a very slow industry. It’s not like the stock market where things change on a daily basis, ”said Joshua Chao, senior VC analyst at PitchBook.

But, venture capital-backed companies, most of which eventually go public, are closely tied to public markets. Part of what fuels venture capital activity in the China region is the strong initial public offering market, which gives funds a way out and profit from past investments. The data suggests that “the current environment is generating enough outflows to continue fueling the Greater China venture capital industry,” according to the report.

So far in 2021, funds have left 20 companies worth more than $ 1 billion. Nineteen of them were public offerings. PitchBook expects the total number of releases, including IPOs, sales to strategic buyers and other transactions, to reach record highs in the second half of the year. “That said, recent scrutiny and new legislation from Chinese regulators could be a hindrance for companies trying to list on foreign exchanges and will likely push more high-profile offers on exchanges based in Shanghai, Shenzhen. or Hong Kong “, according to the research firm.

Foreign venture capital firms based in the United States and Europe are particularly interested in China, as the growth of high-tech industries in their own countries has plateaued, Chao said. These investors see China as the next frontier for tech start-ups in the next five to ten years.

“For many VCs, investing in Chinese startups represents both a paradigm shift from Western companies, given the operational scale and speed of the region’s innovation economy, as well as the ‘an opportunity to invest in top-notch startups in a rapidly growing market. “, says the report.

In recent months, non-domestic venture capital firms have been involved in some of Greater China’s hottest venture capital deals, including a mega-deal led by California-based Sequoia Capital. In February, the investment firm led a $ 3 billion fundraising round for Xingsheng Selected, a three-year-old grocery app.

But Chao acknowledges that in the future, foreign venture capitalists may have to rethink their investment strategies in sectors that have been inspected by the Chinese regulator.

For example, people under the age of 18 are limited to three hours of video games per week, according to a ban issued earlier this week by China’s National Press and Publishing Administration. Out-of-school tutoring centers, one of the country’s most popular investment targets, were forced to register as non-profit associations at the end of July.

“If you invest in areas that are considered nonprofit, you are not going to give your fund back,” Chao said. “I think investors are still trying to figure out what [the regulation] resources for their current portfolio and future investments.

GTEBORG, Sweden, September 1, 2021 / PRNewswire / – Volvo Group Venture Capital AB has announced a new investment in a leading company in the field of measurable safety for driver assistance and autonomous vehicles. Foretellix Ltd was founded in 2018 by a team of verification and validation pioneers whose mission is to make automated driving systems safe and efficient.

One of the main challenges with stand-alone systems is deciding when a product is safe enough to be marketed. This is what Foretellix is ​​tackling with its verification platform. It uses smart automation and big data analysis tools that coordinate and monitor millions of driving scenarios to ensure the autonomous vehicle performs well under all possible driving conditions, including extreme cases.

In addition to the investment from Volvo Group Venture Capital, Volvo Autonomous Solutions forged a closer partnership with Foretellix earlier this year with the goal of jointly creating a coverage-based verification solution for autonomous driving that works both on public roads and in restricted areas.

“Volvo Autonomous Solutions and Foretellix entered into a partnership in March of this year. We clearly understand the continued progress and benefits of working with the Foretellix team and its verification platform. Based on our experience, Volvo has decided to invest in Foretellix as well. said Nils jaeger, president and chief executive officer of Volvo Autonomous Solutions.

“The team is very experienced and the solution is attractive to an automaker like Volvo. We believe that Foretellix’s business model and technology will play a role in future mobility. Foretellix can provide the Volvo Group with additional information on safe autonomous driving. says David Hanngren, chief investment officer of Volvo Group Venture Capital.

“The investment from Volvo Group Venture Capital further strengthens our partnership with the Volvo Group and will help Foretellix continue to accelerate the safe deployment of increasingly advanced automated driving systems,” said Ziv Binyamini, CEO and co -Founder of Foretellix.

The story continues

Volvo Group Venture Capital’s role is to make investments that drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group.

In the context of the trends shaping the future of transportation and the strategic priorities of the Volvo Group, Volvo Group Venture Capital’s main areas of investment are logistics services, site solutions and electrical infrastructure. The organization has a global reach and focuses on Europe and North America.

The transaction has no significant impact on the results or the financial position of the Volvo group.

Journalists for more information, please contact:
Claes Eliasson, Volvo Group Media Relations, +46 76 553 72 29

For more information, please visit volvogroup.com

For frequent updates, follow us on Twitter: @volvogroup

The Volvo Group promotes prosperity through transportation and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, finance and services that increase demand. availability and productivity of our customers. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs nearly 100,000 people and serves customers in more than 190 markets. In 2020, net sales amounted to approximately SEK 338 billion (33.6 billion euros). Volvo shares are listed on Nasdaq Stockholm.

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