Managers

Engineering Capital collects $47.5 mln for sophomore fund

Engineering Capital has raised $47.5 million for its second fund, according to an SEC filing. In February 2015, the Palo Alto, California-based venture firm launched its debut fund at $32 million.

Aster amasses 240 mln euros for venture fund

Aster has raised 240 million euros in the first close of its venture fund. The pool will focus on investments in Europe and the U.S.

X4 Pharmaceuticals lands $27 mln Series B

Cambridge, Massachusetts-based X4 Pharmaceuticals, a developer of novel CXCR4 inhibitor drugs to improve immune cell trafficking to treat cancer and rare diseases, has closed $27 million in Series B financing. The investors were not named.

Element AI helps launch $45 mln Korean AI innovation fund

Montréal artificial intelligence solutions company Element AI has helped launch a new US$45 million fund to invest in emerging AI technologies in Korea and around the world. The fund, backed by Korea's SK Telecom Co Ltd, Hyundai Motor Co and Hanwha Group, will target the most promising sectors of commercial AI applications and infrastructure, including autonomous vehicles, household robots, manufacturing, drones and hardware. It will be managed by the three Korean companies and advised by Element AI. In June, Element AI raised $137.5 million in a Series A round to create and incubate AI solutions in partnership with corporations and research institutions.

Sapphire to raise $100 mln sports tech fund

Sapphire Ventures is raising a $100 million sports tech fund, according to a filing with the SEC.

BDC adds to Women in Tech fund, brings total to $70 mln

BDC Capital has added $20 million to its Women in Tech investment program, which now has $70 million to invest in Canadian women-led technology companies over five years. Of the total, $60 million will be invested directly in seed, Series A and Series B financings of companies, while $10 million will go to funds, such as StandUp Ventures Fund I, and related regional initiatives. Since last November, BDC has committed $3 million to nine women-led companies, including team performance platform Nudge Rewards Inc, which this week announced the close of its $5 million Series A round.

TechU targets $25 mln for venture fund

TechU Ventures is raising a $25 million first fund, according to a regulatory filing. The firm is managed by Natanel Barookhian, founder of TechU Angels, and based in Great Neck, New York. The filing lists no investors.

Arterys takes in $30 mln Series B

Arterys Inc., a medical imaging company, has secured $30 million in Series B financing. Temasek led the round with participation from Northwell Health Ventures, New York-Presbyterian, Varian Medical Systems, GE Ventures, Fosun, DNA Capital, Emergent Medical Partners and ORI Capital.

Outpost Medicine rakes in $20 mln

Indianapolis and London-based Outpost Medicine, a biopharmaceutical company focused on treating urologic and gastrointestinal disorders, has raised $20 million in funding. The investors included Takeda Ventures, Frazier Healthcare Partners, Novo Holdings A/S, Vivo Capital and Adams Street Partners. Also, the company has appointed Scott Byrd as president and CEO, succeeding David Socks, interim CEO, co-founder of Outpost, and venture partner with Frazier Healthcare Partners. Socks will remain on the board of directors.

Arrowroot wraps up third fund at over $177 mln

Santa Monica, California-based Arrowroot Capital Management, a growth equity firm, has closed its oversubscribed third fund at over $177 million. Arrowroot Capital III's limited partners include endowments, foundations, consultants, pensions and alternative asset managers. The fund will focus on providing growth capital for software companies in the lower-middle market. Probitas Partners served as placement agent for the fund while Kirkland & Ellis LLP provided legal counsel.