North America

On Target Labs attracts funding

Indiana-based On Target Laboratories Inc, which is developing tumor-targeted fluorescent dyes to improve cancer surgery, has secured funding that raises its total tally close to $44 million. Johnson & Johnson Innovation – JJDC Inc led the round with participation from H.I.G. BioHealth Partners, Elevate Ventures and Helsinn. Wedbush was strategic adviser and placement agent to On Target Laboratories in connection with the financing.

Flagship Pioneering provides $50 mln to Foghorn Therapeutics

Cambridge, Massachusetts-based Foghorn Therapeutics, a developer of therapies for cancer and other serious diseases, has secured $50 million in funding. The investor was Flagship Pioneering.

Spark Capital leads Series B round for Zūm

Redwood City, California-based Zūm, a provider of reliable transportation and care for children, has secured $19 million in Series B funding. Spark Capital led the round with participation from return backer Sequoia Capital.

VC-backed Turnitin adds ex-U.S. Secy of Education to board

Oakland, California-based Turnitin, a service that aims to detect student plagiarism, has named Arne Duncan, former U.S. Secretary of Education, to its board of directors. Currently, Duncan, who served as U.S. Secretary of Education from 2009 to 2015, is the managing partner of Emerson Collective. Turnitin is backed by Insight Venture Partners, GIC, Norwest Venture Partners, Lead Edge Capital and Georgian Partners.

Wefarm rakes in $5 mln seed

Wefarm, a farmer-to-farmer digital network, has secured $5 million in seed funding. True Ventures led the round with participation from other investors that included Skype, WordPress founder Matt Mullenweg, Blue Bottle Coffee CEO Bryan Meehan, LocalGlobe and Accelerated Digital Ventures.

UK venture firm LocalGlobe taps Hawkins as partner

London-based venture firm LocalGlobe has named Julia Hawkins as a partner, according to a source familiar with the firm. Hawkins will focus on media and health tech investments. Her work background includes stints at Goldman Sachs, BBC Worldwide and Universal Music.

Solebit raises $11 mln from ClearSky Security, MassMutual Ventures, Glilot Capital

Solebit said it raised $11 million of Series A funding in a round led by ClearSky Security and joined by MassMutual Ventures and Glilot Capital Partners.

Luminate Security raises $14 mln from U.S. Venture Partners, Aleph Venture Capital, ScaleUp

Luminate Security said it raised $14 million of seed and Series A funding from U.S. Venture Partners, Aleph Venture Capital and the ScaleUp program from Microsoft.

How to scale a venture capital (or private equity) fund

KCK leads Series C round for Future Finance

European private student lender Future Finance has raised 40 million euros in Series C funding. KCK led the round with participation from other investors that included S-Cubed, Invus and Fenway Summers.