Fundraising

Ribbit Capital targets $420 mln for fifth fund

Ribbit Capital is seeking to raise $420 million for its fifth fund, according to an SEC filing. The Palo Alto, California-based venture firm is focused on the fintech sector.

Tera Ventures Fund II seeks 55 mln euros

Tera Ventures said Sept. 13 that its second fund clinched a first close of 21 million euros ($24.4 million). The target of fund II is 55 million euros ($64 million). Tera aims to invest in 25 to 30 seed-stage tech startups located in tech hubs in Estonia, (including eligible e-residents), Finland, Denmark, Latvia, Lithuania, Poland, Sweden and the Czech Republic.

Venture fundraising headed toward 18-year record

Imec.xpand raises venture-capital fund of about $136 million

Imec.xpand has raised an initial venture-capital fund of about $136 million. The fund will target early-stage and growth investments.

Conscious Venture Lab targets $50 mln for inaugural fund

Conscious Venture Lab is seeking to raise $50 million for its debut fund, according to an SEC filing. Based in Baltimore, Conscious Venture Lab is a startup accelerator.

Vivo Capital raises $532 mln for fund

Vivo Capital, a healthcare investment firm, has closed its opportunity fund at $532 million. Vivo Opportunity Fund will focus on small to mid-cap public life sciences companies.

Imec.xpand raises 117 mln euros for maiden fund

Imec's early-stage and growth fund Imec.xpand has closed its debut fund at 117 million euros, beating its initial target of 100 million euros. Based in Belgium, Imec is an international R&D and innovation hub that is active in nanoelectronics and digital technologies.

Cigna forms corporate venture fund, commits $250 mln

Health service company Cigna has launched Cigna Ventures, a new corporate venture fund focused on healthcare startups. Cigna has committed $250 million to Cigna Ventures for its debut fund.

Ripple Ventures raises $10 mln for debut early-stage tech fund

Toronto-based early-stage venture capital firm Ripple Ventures has closed its inaugural fund, raising $10 million in committed capital. Ripple Ventures Fund I was backed by unidentified limited partners in Canada and the United States. Launched this year by Managing Partner Matt Cohen, who will run Fund I alongside General Partner Michael Garbe, Ripple also opened an incubator space called the Tank. Fund I's first investments include Toronto telemedicine platform OnCall Health and Toronto construction technology provider Tread Technologies. The fund will invest in other companies in a range of North American technology sectors.

CIBC’s tech-lending arm ramps up cross-border strategy with new hires, deals

CIBC Innovation Banking, the tech-lending arm of CIBC, is pursuing a bold North American scaling strategy, boosting in-house resources and accelerating its deal pace. The activity includes a batch of senior hires. Since launching earlier this year, the group has recruited no fewer than six managing directors, most of them from rivals in the debt space. Mark McQueen, president and executive managing director, says the hires bring fresh talent to CIBC’s tech-lending arm, and extend its reach into Canadian and U.S. tech hubs.