North America

Controversy erupts at August Capital: report

Controversy has erupted at August Capital, where the firm has put an end to fundraising for its eighth fund, according to a report from Axios.

Union Square Ventures raises $428.8 mln for new core, opportunity funds

Union Square Ventures has raised $428.8 million for two new funds, including a new core venture capital fund and an opportunity fund, according to filings with the SEC. The firm also is raising an opportunity investors fund.

Menlo Ventures to raise $450 mln opportunities fund

Menlo Ventures has set out to raise a $450 million second opportunities fund, according to a filing with the SEC.

LynX Inspection raises $1 mln-plus in debut VC round

LynX Inspection, a Québec City-based provider of industrial inspection solutions, has raised more than $1 million in its first financing. The round, announced last month, was backed by members of Anges Québec, Anges Québec Capital, Fonds Innovexport and ACET Capital. Founded in 2016, LynX's technology combines three-dimensional analysis and X-ray imaging to rapidly inspect manufactured parts and detect defects. It is targeting opportunities in the aerospace, automotive and defence sectors. President and CEO Luc Perron said the funds raised will help the company move from R&D to commercialization and increase its global profile.

Northgate Capital pulls in $1.2 mln for $125 mln targeted fund

Danville, California-based Northgate Capital has raised $1.2 million for its eighth venture fund, according to an SEC filing. The target is $125 million.

Bakkt racks up $182.5 mln

Bakkt, a digital assets and bitcoin futures platform founded by The Intercontinental Exchange, has raised $182.5 million in funding, according to a blog post on its site. The investors include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, M12, Pantera Capital, PayU and Protocol Ventures.

MAA shuts down operations

Frederick, Maryland-based Mid-Atlantic Angels, an investor group, has ended operations, effective December 28, 2018. According to MAA, the investor members invested more than $1.4 million in seven early-stage businesses during its four years of existence.

HJB and MabSpace merge to form Transcenta

HJB and MabSpace Biosciences have merged to form Transcenta Holding Ltd, a biotherapeutics company. No financial terms were disclosed. BFC Group Ltd served as financial adviser on the transaction. Dr. Xueming Qian, former founder, chairman and CEO of MabSpace, will serve as CEO of Transcenta while Dr. Jonathan Yining Zhao, co-founder and CEO of HJB, will serve as executive chairman. The backers of HJB and MabSpace include Lilly Asia Ventures, Temasek, Sequoia China, ARCH Venture Partners, Teng Yue Partners and Taikang.

ZynBit snags $1 mln

Research Triangle, North Carolina-based ZynBit.com, a provider of sales enablement solutions, has raised $1 million in funding. The investor was River SaaS Capital.

Antengene scores $120 mln Series B

China-based Antengene Corporation, a clinical stage therapeutics company focused on oncology, has secured $120 million in Series B financing. Boyu Capital and FountainVest led the round with participation from Celgene Corporation, WuXi Corporate Venture Fund, Taikang, Qiming Venture Partners and TF Capital.