US

TPG Growth-managed The Rise Fund backs Dharma

Washington, D.C.-based Dharma, a software-as-a-service data platform, has secured an undisclosed amount of Series A funding. The Rise Fund, which is managed by TPG Growth, led the round.

Dundee Venture Capital leads $1 mln round for Costello

Indianapolis-based Costello, a deal management platform provider, has raised $1 million in funding. Dundee Venture Capital led the round with participation from Elevate Ventures, M25 Group and Service Provider Capital.

Flagship Pioneering to raise $500 mln for sixth fund

Flagship Pioneering has set a $500 million target for its sixth fund, according to an SEC filing. The Cambridge, Massachusetts-based venture firm invests in the biotech, healthcare and software sectors.

Alphabet talks with Lyft about possible investment, says source: Reuters

Alphabet Inc (GOOGL.O) is in discussions with Lyft Inc about a possible investment in the ride-hailing company, potentially deepening an existing partnership between the two firms, a source told Reuters.

Customer feedback platform AskNicely grabs funding

New Zealand-based AskNicely, a customer feedback platform, has secured NZ$6.7 million in funding. Blackbird Ventures led the round.

Silver Lake-backed SoFi appoints Hutton as interim CEO

Online lender SoFi has named Executive Chairman Tom Hutton as interim CEO. His appointment became effective immediately after SoFi board of directors accepted company co-founder and CEO Mike Hagney's resignation following the disclosure earlier this week of sexual harassment allegations levelled against him. The managing director of XL Innovate, Hutton was appointed to the SoFi board in June 2012. SoFi's backers include SoftBank and Silver Lake Partners.

Social Capital forms blank check company Hedosophia to buy unicorns

Social Capital Hedosophia Holdings, a blank check company formed to acquire a large private technology company, raised $600 million by offering 60 million units at $10, exceeding its $500 million initial target. Social Capital Hedosophia, which trades on NYSE under the symbol IPOA.U, will operate as a special purpose acquisition company. A SPAC, also known as a blank check company, will use the proceeds to provide a source of liquidity for private companies that will become part of the holding company, and investors can sell their shares on the NYSE. Social Capital CEO and founder Chamath Palihapitiya, who is chairman and CEO of Hedosophoia, told the Financial Times that he was targeting unicorn companies with a valuation of between $3 billion to $20 billion.

Costanoa Ventures wraps up third fund at $175 mln

Costanoa Ventures has closed its third fund at $175 million. The Palo Alto, California-based venture firm focuses on early-stage tech startups.

Thiel-affiliated Breakout Ventures raises $60.1 mln for a maiden fund

Breakout Ventures, a firm affiliated with Peter Thiel-founded Breakout Labs, has raised $60.1 million for a maiden venture fund, according to a filing with the SEC.

GGV Capital leads Series A round for CashShield

CashShield, an online fraud management company, has secured $5.5 million in Series A funding. GGV Capital led the round with participation from other investors that included Heliconia Capital Management and Stream Global. In addition to the funding, Jenny Lee, managing partner of GGV Capital, will join CashShield's board of directors.