North America

MATH Venture Partners raises $46 mln early-stage fund

MATH Venture Partners said it closed a $46 million second early-stage venture capital fund to back technology companies.

Pangaea Ventures raises $70 mln for fourth advanced-materials fund

Canadian venture capital firm Pangaea Ventures has closed its fourth advanced-materials fund, raising about $70 million in commitments. Pangaea Ventures Fund IV was backed by a range of limited partners, including VanCity and BC Tech Fund, managed by Kensington Capital Partners. Pangaea also increased its strategic investors to twenty-five. Fund IV backers include existing investors CoorsTek, JSR and Mitsubishi Chemical Holdings and new investors Adidas, Doosan, Henkel, Lam Research, PTT Global, Sekisui, Severstal, Shin-Etsu and TOSOH.

Cofounders Capital raised over $31 mln towards a $50 mln second fund

Cushion rallies $2.8 mln seed

Cushion, an app that helps U.S. consumers negotiate their bank and credit card fees, has raised $2.8 million in seed funding. The backers were Afore Capital, 9Yards Capital, Flourish, Green Cow Venture Capital and Vestigo Ventures.

Biolux Research closes $14 mln Series A round led by Venrock

Biolux Research, a Vancouver-based developer of light-accelerated orthodontic products, has raised $14 million in a Series A financing. The round was led by Venrock, a U.S. technology and healthcare venture capital firm. It was joined by Correlation Ventures and other investors. Founded in 2007, Biolux is the maker of OrthoPulse, a non-invasive device that uses low levels of light energy to accelerate orthodontic treatments. The product is currently being sold in the United States, Europe and Asia. The company also announced the appointment of David Thrower, a medical device industry executive, as its new CEO.

Motus Ventures to raise $30 mln for new fund

Redwood City, California-based Motus Ventures is seeking to raise $30 million for its smart world innovation fund. The fund will focus on artificial intelligence, robotics and internet of things technologies.

Altice USA to acquire VC-backed Cheddar for $200 mln

Altice USA has agreed to acquire Cheddar, a digital-first news company, for $200 million. LionTree Advisors provided financial advice to Cheddar on the deal while Cooley served as legal counsel. Cheddar's backers include Lightspeed Venture Partners, Raine Ventures, Altice USA, Comcast Ventures, AT&T, Ribbit Capital, The New York Stock Exchange, Goldman Sachs, Liberty Global, Amazon, Homebrew, WGI Group, 7 Global Capital, Antenna Group and Dentsu Ventures.

Biolux Research fetches $14 mln Series A

Biolux Research, an orthodontic device maker, has secured $14 million in Series A funding. Venrock led the round with participation from other investors that included Correlation Ventures. Also, Biolux has named David Thrower as CEO.

Pangaea Ventures raises $95 mln for fourth advanced-materials fund

Canadian venture capital firm Pangaea Ventures has closed its fourth advanced-materials fund, raising about $95 million (US$70 million) in commitments. Pangaea Ventures Fund IV was backed by a range of limited partners, including VanCity and BC Tech Fund, managed by Kensington Capital Partners. Pangaea also increased its strategic investors to twenty-five. Fund IV backers include existing investors CoorsTek, JSR and Mitsubishi Chemical Holdings and new investors Adidas, Doosan, Henkel, Lam Research, PTT Global, Sekisui, Severstal, Shin-Etsu and TOSOH. Vancouver-based Pangaea, founded in 2001 by General Partner Chris Erickson, said the fund will invest in up to 14 materials-driven companies addressing the energy, electronics, health and sustainability sectors.

Technisys procures $50 mln Series C

Technisys, a provider of a digital banking software platform, has secured $50 million in Series C financing. Riverwood Capital led the round.