Managers

MaRS, Virgin Unite partner in launch of $5 mln impact VC fund

Toronto-based commercialization hub MaRS Discovery District and Virgin Unite Canada have announced a partnership that includes a new venture capital fund. The fund has been seeded with $1.5 million by Virgin Unite, Mindset Social Innovation Foundation and other sources to invest in Canadian early-stage for-profit companies with a core social or environmental mission. MaRS, which will manage the fund, will continue raising capital up to a total of $5 million. The partnership will also support several Canadian accelerator programs, including MaRS' Impact8, RADIUS Ventures and Esplanade.

Qualcomm to invest $40 mln in four Chinese start-ups and Chinese fund

Mobile tech powerhouse Qualcomm has committed to investing $40 million in four Chinese start-ups in addition to China Walden Venture Investments, a China-focused semiconductor fund. Among the firms Qualcomm plans to back are 7Invensun, an eye-tracking solution provider; Chukong Technologies, a mobile entertainment platform provider; and Unisound, a voice recognition and processing technology provider.

Fonds de solidarité FTQ commits $15 mln to new Versant fund

The Fonds de solidarité des travailleurs du Québec FTQ has committed US$15 million to the newly closed fifth healthcare fund of U.S. venture capital firm Versant Ventures. The Fonds said it backed the US$305 million fund because Versant is making an important contribution of capital and investment models to Québec’s life sciences sector. Earlier this year, Versant launched a new incubator in Montréal, Inception Sciences Montréal, which specializes in drug discovery and development.

Online peer-to-peer banker LendingClub's IPO priced at $15/share-Reuters

The initial public offering of LendingClub Corp (LC.N), the world's largest online marketplace directly connecting borrowers and investors, was priced at $15 per share, above its expected price range of $12-$14, Reuters reported.

Huddle gathers $51 mln in funding to further expansion

Huddle, a provider of a cloud-based content management and collaboration platform, has raised a $51 million Series D round of funding led by Zouk Capital.

Israel tech appealing more to China LPs

Carmel Ventures raised less than one-tenth of its $194 million fund from inside Israel

Versant Ventures closes new $305 mln fund with help of Canadian LPs

U.S. venture capital firm Versant Ventures has closed Versant Venture Capital V LP at US$305 million, surpassing its initial target of US$250 million. The fund will invest across the global healthcare sector and at all stages of company development. Versant, which has an office in Vancouver, has received capital commitments for Fund V from a number of Canadian institutional investors, including BDC Capital, Fonds de solidarité FTQ, Northleaf Venture Catalyst Fund and Teralys Capital. This support owed to Versant’s current and planned activity in developing Canada’s life sciences ecosystem.

Madrona unveils in-house incubator for idea-stage companies

Venture capitalists say they like to become involved with companies early. How about before they start! That is the motivation behind Madrona Venture Labs, an incubator for idea-stage companies sponsored and funded by Madrona Venture Group.

Crosslink raises $137 mln for 7th venture fund

Crosslink Capital has raised $137 million for a seventh venture fund, according to a pair of filings with the Securities and Exchange Commission. The firm closed on $90.1 million for Crosslink Ventures VII with 38 participating investors, according to the documents.

McKesson Corp. launches new healthcare venture fund

McKesson Corp., a provider of healthcare services and information technology, has launched McKesson Ventures, a new healthcare-focused venture fund. Tom Rodgers will serve as the fund's managing director and helm its investments. Previously, Rodgers worked at Cambia Health where he led the firm's venture investing efforts.