Managers

VCs on the Move, monthly recap as of Oct. 17

Revolution Medicines is buying VC-backed Warp Drive Bio

Revolution Medicines is acquiring Cambridge, Massachusetts-based Warp Drive Bio, an antibiotics developer. No financial terms were disclosed. The deal is expected to close by the end of this month. Warp Drive Bio is backed by Third Rock Ventures, Sanofi and Greylock.

VC-backed SI-BONE goes public

Santa Clara, California-based SI-BONE Inc, a medical device company, has debuted its IPO after pricing its 7.2 million shares at $15 per share. The stock began trading October 17, 2018 on the NASDAQ under the ticker symbol "SIBN." Morgan Stanley and BofA Merrill Lynch are the lead underwriters. SI-BONE’s pre-IPO backers included Redline Capital Management, Orbimed, Novo A/S, Skyline Ventures and Montreux Equity Partners.

Devoted Health racks up $300 mln

Devoted Health, a healthcare company, has raised $300 million in funding, according to a post. Andreessen Horowitz led the round.

CuraSen Therapeutics lands $54.5 mln Series A

CuraSen Therapeutics Inc, a developer of therapies to treat neurodegenerative diseases, has raised $54.5 million Series A financing. New Leaf Venture Partners led the round.

Gauss Surgical scores $20 mln Series C

Silicon Valley-based Gauss Surgical, an AI-driven healthcare technology company, raised $20 million in Series C funding. The investors included Northwell Health, SoftBank Ventures Korea and LS Polaris Innovation Fund.

Version One Ventures closes third early-stage fund at $57 mln

Canadian venture capital firm Version One Ventures has closed its third fund at about $57 million in committed capital. Version One Ventures III was backed by new and existing limited partners, including such institutions as Invesco, HarbourVest, Northleaf Capital Partners and Kensington Capital Partners. Commitments were also secured from entrepreneurs at Shopify, Slack, Hootsuite, Wattpad, Salesforce and other companies. Founding Partner Boris Wertz said Fund III will double down on the investment strategy followed by Vancouver-based Version One since its launch in 2012. It will lead or join pre-seed and seed rounds with cheque sizes of $500,000 to $750,000, backing North American startups and platforms that leverage network effects.

Corviglia Capital Fund launches with $500 mln target

Petr Šmída and Cezary Smorszczewski have launched Corviglia Capital Fund, a fintech growth pool that is seeking $500 million in capital commitments. The fund has secured $250 million in a first close. Šmída co-founded ENERN, an Eastern European/DACH venture capital firm which has invested in 20 tech companies. Smorszczewski co-founded and is the former deputy-CEO of Alior Bank. The fund will make minority investments in financial services and banking.

Connecticut mulls $100 mln for VC funds and startups

GGV Capital collects total of $1.88 bln for new funds

Menlo Park, California-based GGV Capital, a venture firm that invests in the U.S. and China, has closed its new funds at a total of $1.88 billion. The new funds include GGV Capital VII and VII Plus, which raised $1.36 billion; GGV Discovery II, which raised $460 million; and GGV Capital VII Entrepreneurs Fund, which raised $60 million.