North America

Sinovation Ventures to raise $500 mln for fourth fund

Sinovation Ventures has set a $500 million target for its fourth fund, according to an SEC filing. The San Francisco-based early-stage venture firm focuses on Chinese and U.S. tech startups.

VC-backed Nlight files for IPO

Nlight Inc, a provider of high-power semiconductor and fiber laser, has filed for an IPO. The number of shares that will be sold as well as the IPO's pricing terms have yet to be set. The stock will trade on the NASDAQ under the ticker symbol "LASR." Stifel and Raymond James will serve as lead underwriters. Nlight's backers include Menlo Ventures,Oak Investment Partners, Samsung Ventures and Mohr Davidow Ventures.

Meat startup Wild Type fetches $3.5 mln seed

San Francisco-based meat startup Wild Type has raised $3.5 million in seed funding, according to an announcement on its site. The investors include Spark Capital, Root Ventures and Mission Bay Capital. In addition to the funding, Spark's John Melas-Kyriazi has been added to Wild Type's board of directors.

Pincho Factory takes in Series A funding

Miami-based Pincho Factory, a Latin American restaurant chain, has raised an undisclosed amount of Series A funding. The lead investor was Ned Scherer. No financial terms were disclosed. Exeter Capital Partners brokered the transaction.

Alzheon sets IPO pricing terms

Framingham, Massachusetts-based Alzheon Inc, a biopharmaceutical company focused on brain health, memory and aging, has priced 5 million shares of its IPO at between $13 and $15 per share. The stock will trade on the NASDAQ under the ticker symbol "ALZH." Citigroup Global Markets Inc. and Piper Jaffray & Co. are the lead underwriters. Alzheon's backers include Ally Bridge Group.

SiFive nets $50.6 mln Series C

Silicon Valley-based SiFive, a provider of commercial RISC-V processor IP, has raised $50.6 million in Series C funding. Sutter Hill Ventures, Spark Capital and Osage University Partners led the round with participation from other investors that included Chengwei Capital, Huami, SK Telecom and Western Digital.

Fifth Wall announces promotions and hirings

Fifth Wall Ventures, a real estate-focused venture firm, has made several promotions and personnel hiring to its staff, according to a spokesperson. Roelof Opperman and Vik Chawla have been promoted to principals on the investment team; KC Cleary has been hired as a partner; Adam Demuyakor will assume additional responsibility in terms of leading long-term engagements with companies that join the Fifth Wall portfolio; Kate Bassett has been hired as an associate strategist; and Luke Williams, Michael New and Katherine Miller have been promoted to investment professionals.

Macrolide Pharmaceuticals snags $20 mln

Watertown, Massachusetts-based Macrolide Pharmaceuticals, a developer of antibiotics for for drug-resistant, hospital-acquired infections, has raised $20 million in financing. The lead investors were Advent Life Sciences, Gurnet Point Capital, Novartis Venture Fund, Roche Ventures and SR One.

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Unitus raises $12.9 mln for second seed fund

The Unitus Seed Fund has raised $12.9 million for a second seed fund, according to a filing with the SEC.