North America

Coinbase launches new venture fund: CNBC

Cryptocurrency exchange Coinbase is launching a new venture capital fund that will back early-stage startups in the cryptocurrency and blockchain space, according to a report by CNBC. The fund has already raised $15 million.

BayoTech attracts $12.5 mln Series B

BayoTech Inc, a developer of advanced chemical reactors for the distributed production of hydrogen and fertilizers, has secured $12.5 million in Series B financing. The investors included Cottonwood Technology Fund and Sun Mountain Capital.

Summersalt rallies $2 mln seed

Summersalt, a designer of eco-friendly swimwear, has secured $2 million in seed funding. Dundee Venture Capital led the round with participation from Breakout Capital, Revolution’s Rise of the Rest Seed Fund, Cultivation Capital, Victress Capital, M25, The Syndicate Fund and Silas Capital.

WorkFusion lands $50 mln Series E

New York City-based WorkFusion, a robotic process automation software company, has raised $50 million in Series E funding. Hawk Equity and Declaration Partners led the round with participation from Georgian Partners, iNovia Capital and NGP Capital.

Bain Capital funds fast-casual restaurant startup By CHLOE

By CHLOE, a plant-based fast casual restaurant startup, has secured an undisclosed amount of funding. Bain Capital Double Impact led the round with participation from other investors that included Kitchen Fund, Collaborative Fund and TGP International/Qoot International. UPDATE: RiverPark Ventures also participated in the funding.

Makers Fund raises $200 mln for fund

Makers Fund, which is focused on the global interactive entertainment industry, has raised $200 million for its venture fund. Since last summer, Makers Fund has invested in 11 unidentified companies. Makers Fund was founded by Jay Chi and Michael Cheung.

Panacea Venture, backed by KPCB partners, to raise $150 mln for venture fund

Panacea Venture, formed by two Kleiner Perkins Caufield Byers' partners from China, is seeking to raise $150 million for a venture fund according to a filing with the SEC.

Georgian, iNovia back WorkFusion's $50 mln Series E

WorkFusion, a New York-based robotic process automation software company, has raised US$50 million in a Series E financing, bringing its total funding to US$118 million. The latest round was led by Hawk Equity and Declaration Partners. They were joined by existing investors, including Canadian growth equity firm Georgian Partners, which led the company's US$35 million Series D round last year, and Canadian venture capital firm iNovia Capital. WorkFusion, which reported 850 percent growth in demand for its products in 2017, said it will use the funds raised to expand global operations and further its vision.

Annie Kadavy joins Redpoint as partner

Annie Kadavy, an angel investor and former partner at CRV, has joined Redpoint Ventures as a partner. At Redpoint, she will focus on early-stage consumer deals. Kadavy was most recently head of strategic operations at Uber Freight. At CRV, she sourced or led deals with ClassPass, Cratejoy, DoorDash, Laurel & Wolf and Patreon at the seed and Series A stages.

Chairman Mom fetches $1.4 mln seed

Chairman Mom, a newly launched platform for working mothers, has raised $1.4 million in seed funding. Ann Miura-Ko from Floodgate Ventures and Tim Connors from PivotNorth Capital led the round with participation from other investors that included Reid Hoffman from Greylock Discovery and Charles Hudson from Precursor Ventures.