Friday, September 30, 2022

Trind VC raises €55m fund to invest in consumer and SME-focused startups

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Trind VC, a seed-stage venture fund based in Tallinn with team members in Helsinki and Munich, announced closing of its €55m second fund. Trind VC aims to invest into 30–40 startups with proven traction in four years. The fund is backed by institutional investors such as European Investment Fund, Tesi, LHV Pension Funds, and Swedbank Investment Funds.

Harbourfront closes transaction with US-based Audax Private Equity

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The Harbourfront Group of Companies, which includes Harbourfront Wealth Management Inc. (Harbourfront Wealth), a Canadian independent wealth management and planning advisory firm, announced the close of its previously announced strategic investment from Audax Private Equity (Audax), a US-based strategic partner that specializes in the middle market. The transaction successfully closed on September 9, 2022, pursuant to regulatory approval.

Wasabi closes $250 million in funding to usher in the future of cloud storage

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Wasabi Technologies, the hot cloud storage company, announced it has achieved unicorn status following $250 million in new funding. Wasabi raised $125 million in Series D equity led by L2 Point Management with participation from Cedar Pine; an affiliate of Cerberus Capital Management; and returning investors including Fidelity Management & Research Company and Forestay Capital, bringing the company’s valuation to over $1.1 billion.

Hanwha Energy Australia raises AU$150 million to fast-track growth

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Hanwha Energy Australia Pty Ltd, has secured AU$150m in investment to fast-track the development and growth of its innovative renewable energy business model within the Aussie energy sector. Hanwha Energy Australia, together with its retail energy businesses Nectr, combines utility-scale renewable energy generation, rooftop solar and home batteries, retail energy, finance and technology to offer Australians a one-stop-shop for their energy needs. 

True Global Ventures invests $38m in Web3 company Animoca Brands

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True Global Ventures 4 Plus Fund and Follow On Fund (TGV 4 Plus FoF) announced a $38m investment including a $16m bought from the secondary market. TGV also previously communicated an investment of $17m, this means that we have invested an extra $21m. Animoca Brands recently raised a $110m convertible led by Temasek, Bayou Capital and GGV, where TGV also participated. TGV Partners across 20 cities support Animoca Brands’ mission to deliver digital property rights to gamers and Internet users, leading the play-and-earn model and contributing to the Web3 Builders ecosystem of the open metaverse.

Nigerian startup Remedial Health secures $4.4 million in seed funding

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Remedial Health, a healthtech startup that makes solutions to make Africa’s pharmaceutical value chain more efficient, has raised $4.4m in seed funding to accelerate its expansion across Nigeria and to provide access to credit for inventory purchases for its client base of pharmacies, Proprietary Patent Medicine Vendors (PPMVs) and hospitals in the country. 

Australian building operations solution CIM raises AU$10 million Series A

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CIM, the creator of property operations software solution that enables teams to work more collaboratively and accelerates the journey to net zero emissions, announced that it has raised AU$10m after closing its Series A. The round was led by Five V Capital alongside Carthona Capital and included property executives like Mark Steinert, former Stockland CEO.

i4 Connect facilitates $60.7 million in grants to 111 Australian start-ups

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Since commencing as the Commercialisation Delivery Partner in July 2020 for the Entrepreneurs’ Programme Accelerating Commercialisation Service, i4 Connect has facilitated 111 start-ups with $60.7m in grants on commercialisation projects valued at $120m. An Accelerating Commercialisation grant can be used to fund up to half the project to a maximum of grant of $1m. These businesses are often novel, pre-revenue, early stage firms that hugely benefit from both the funds provided through the service and the unique mentoring provided by i4 Connect facilitators.

Australian sporting greats invited to mentor the next generation of stars

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The Sport Australia Hall of Fame (SAHOF) announced the athletes selected for its 2023 Scholarship & Mentoring Program, with three Olympic gold medallists, an NBA Champion, an Australian surfing legend and a cricket great to mentor our next generation of sporting stars.

Morgan Stanley selects 10 companies for its Multicultural Innovation Lab

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Morgan Stanley announced the eighth cohort of the Multicultural Innovation Lab. The in-house accelerator program for tech and tech-enabled startups in the post-seed to Series A funding round stage targets companies with multicultural or women founders, co-founders, CTOs or other C-suite members who are developing innovative solutions across sectors.