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$100M Round Turns San Diego’s Seismic into Region’s Newest Unicorn

Xconomy

The venture investment, which the San Diego startup announced Tuesday, is one of only a few so-called mega-rounds—$100 million or more—recorded this year in the region. (In Seismic, an enterprise software company with ambitious growth plans, has raised $100 million in a Series E financing and added Microsoft chairman John W. Thompson to its board of directors.

New VC Firm Blueprint Equity Puts $6M into Florida Software Company

Xconomy

A new venture capital firm, which in November marked its launch by raising a $53 million-plus fund to invest in startups, has made its first investment. Lewis was mostly recently with San.

Under New Ownership, San Diego’s Ad-Juster Names Dennis Clerke CEO

Xconomy

Ad-Juster, a San Diego adtech startup acquired earlier this year by the investment arm of China’s Innotech International Group, Wednesday named local software entrepreneur Dennis Clerke as CEO. Clerke (a San Diego Xconomist) was previously the CEO of Sunnyvale, CA-based NetSeer, an adtech acquired in February by Inuvo (NYSE: INUV , an advertising technology and digital publishing company based in Little Rock, AR.

Bio Roundup: Generic Drugs Graft, ASCO Ahead, ElevateBio Rises & More

Xconomy

Generic drugs are supposed to give consumers more choices and a counterweight to more costly branded medications. During his tenure as FDA commissioner, Scott Gottlieb often spoke about generics as a market force that could help tame climbing drug prices. But such tools only work when companies play fair. A lawsuit is now claiming that many top generic drug makers routinely conspired to avoid competition.

Cybersecurity Firm Proficio Raises $12M in Private Equity Round

Xconomy

Proficio, a Carlsbad, CA-based startup providing cybersecurity protection services for middle market companies, has raised $12 million in an investment round led by Kayne Anderson Capital Advisors. The Los Angeles-based private equity firm provided funding from its Kayne Partners Fund Group, which invests in high-growth technology businesses.

Talk of Broadcom Buyout of Symantec Puts Broader IT Focus Into View

Xconomy

Boston blog main National blog main San Diego blog main San Diego top stories San Francisco San Francisco blog main San Francisco top stories acquire Acquisition application development Atlas Ventures Boston Broadcom burlington Buyout buyouts CA Technologies chip maker Chipmaker chipmakers Committee on Foreign Investment in the U.S.

Private Equity Investors Have $740 Billion to Spend, Driving Valuations

Xconomy

Private equity investors have more capital at their disposal than at any time in more than a decade, which could boost prices for companies seeking acquisitions. 1, private equity firms in North America and Europe had secured $212.6 As of Aug. billion in new commitments this year, on pace to eclipse the “already stellar” fundraising year they had in 2016, according to a new report and analysis out Thursday from Seattle-based PitchBook.

Corza Health Emerges Led by Former NuVasive, GreatCall Executives

Xconomy

A Chicago-based private equity firm has tapped the former head of NuVasive and finance chief of GreatCall to start a new healthcare company in San Diego. Lucier is also making a “substantial” investment in Corza, according to a statement from GTCR on Wednesday.

Despite Low Crop Prices, Corporate and VC Agtech Investments Soar

Xconomy

Prices for agricultural commodities such as corn, soy, and wheat are at their lowest levels in years, but investment in agricultural technology has never been better. Just 10 percent of corporate investments were made to build new technological capabilities, the report says.

How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley

Xconomy

cities from San Francisco to Austin to Boston come first to mind. equity funding Exit family office Financing Foreign investment germany Global Tech Hubs Report investing investment capital investment fund Japan Korea Mercury Fund Mobike Seoul Shanghai Silicon Valley sovereign fund sovereign wealth fund Startup startups Tech tech startup Tech Startups Technology Tokyo Toutiao Venture Capital Venture FundingWhen it comes to startup tech hubs, U.S.

Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More

Xconomy

This was one of those weeks when the world seemed to slip into a new era with no going back. A Chinese researcher, He Jiankui, claimed he helped bring to life two genetically engineered babies, twin girls with a gene disabled to make them immune to HIV infection.

California Accelerators Enroll Startups Targeting Cannabis Industry

Xconomy

On Monday, nine startups began a 16-week program at Canopy San Diego , a new accelerator program for seed-stage companies developing new technologies, products, and services to support the legal cannabis industry.

Forge Therapeutics Raises $15M to Take on Drug-Resistant Superbugs

Xconomy

San Diego-based Forge says it has raised $15 million to support its efforts. MagnaSci Ventures, a Houston-based investment fund focused on early-stage life science companies, led the Series A round of financing.

Hungry for Innovation, Big Food Firms Seek Alliances With Startups

Xconomy

The firms include stalwarts like Kraft Heinz (NASDAQ: KHC ) , which has an incubator and accelerator program called Springboard , and relative newcomers like the Greek-style yogurt maker Chobani , which operates an incubator that makes $25,000 investments in startups with no equity stake.

With New Cash, Sensemetrics Aims to Take Industrial IoT Tech Global

Xconomy

San Diego startup Sensemetrics is applying that technology to the industrial Internet-of-things sector (IIoT), selling access to its cloud platform to the world’s largest mining companies and government agencies monitoring major infrastructure, such as dams. On Tuesday, Sensemetrics announced it has closed its first institutional funding round, which it is calling its Series A investment.

Magnolia Medical Captures $20M to Reduce Blood Culture Contamination

Xconomy

Magnolia Medical Technologies , a Seattle-based manufacturer of devices for collecting blood and bodily fluids, announced this week it has raised $20 million in equity funding to ramp up sales of its flagship product.

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New Survey Highlights “Lethargic Pace” of Healthcare Gender Equity

Xconomy

But women in the industry aren’t optimistic about big changes coming soon, according to a new report and survey from digital healthcare investment firm Rock Health. The San Francisco firm, which also issues reports and advocates for the growing sector at the intersection of health, data science, and mobile communication, says it surveyed more than 300 women for its annual gender diversity report.

Vividion Lands $101M from Celgene to Develop Protein-Targeting Drugs

Xconomy

Celgene (NASDAQ: CELG ) will pay San Diego-based Vividion $101 million up front, which includes an equity investment. Vividion Therapeutics is partnering with Celgene to develop new drugs that modulate protein levels as a way of treating disease.

VC Confidence Holds Steady in Quarterly Survey, But Reasons Change

Xconomy

That Q4 2016 edition of a quarterly survey by University of San Francisco business professor Mark Cannice rated the overall confidence of the VCs at 3.81

UiPath Snags $225M To Expand Robotic Workforce for Businesses

Xconomy

New York-based UiPath is the latest such company to score a haul, announcing Tuesday it raised $225 million in a Series C funding round co-led by earlier investor CapitalG —the growth equity investment fund of Google parent company Alphabet—and Sequoia Capital, a new investor. That follows the $250 million raised in a Series A round announced in July by UiPath’s competitor Automation Anywhere , which is based in San Jose, CA.

Workforce Trends, Economy, & More: Q&A With Alexandria’s Joel Marcus

Xconomy

For the life sciences industry, one of the largest landlords, and closest observers, is Alexandria Real Estate Equities. from San Francisco, San Diego, and Seattle on the west coast to Boston, New York, and Research Triangle Park out east.

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Announcing Xconomy’s Agtech and Food Channel

Xconomy

At Xconomy, we have seen growing investments in the sector—both in a rash of new agtech startups and by bigger players such Monsanto, Bayer Crop Sciences, and Syngenta. The annual AgTech Investment Report from AgFunderNews found that investment in agriculture and food-related technology startups alone hit $4.6

Cybersecurity Startup MedCrypt Gets $750K to Defend Health Devices

Xconomy

MedCrypt, a healthtech cybersecurity startup founded near San Diego, has raised $750,000 in a seed financing round led by Safeguard Scientifics (NYSE: SFE ), a private equity fund in suburban Philadelphia that invests in healthcare, fintech, and digital media.

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Aquam Raises $26M to Expand Tech, Services for Aging Infrastructure

Xconomy

Aquam, a San Diego company with technology for cleaning out and re-lining aging utility pipelines, has raised $26 million in a growth capital round led by NewWorld Capital Group , a New York private equity firm that makes investments in sustainable energy and natural-resources related deals.

Tealium Adds $35M to Expand Technology, Sharpen Customer Focus

Xconomy

Tealium, a San-Diego startup that provides online advertising tag management and marketing services for enterprise customers, has raised $35 million in a growth financing deal intended to expand its technology and market reach. Georgian Partners and Bain Capital Ventures, the investment firms that anchored Tealium’s $30.7 Tealium also unveiled a new “executive briefing center” (pictured above) at its expanded San Diego headquarters.

Under New Owners, Petco’s Digital Strategy Emerges in Petnet Deal

Xconomy

Petco, the privately held pet supplies company based in San Diego, said today it led a $10 million Series A financing in Los Angeles-based Petnet, a three-year-old startup developing technology-enabled pet feeders and pet food delivery service. The deal also reflects Petco’s expanding interests in technology following the company’s $4.6-billion acquisition ( disclosed last November ) by the private equity firm CVC Capital Partners and the Canada Pension Plan Investment Board.

Convoy Reloads With $185M For Its Freight Shipment Marketplace

Xconomy

Convoy , an online marketplace that connects shippers with freight truck fleets and independent drivers, announced today it raised $185 million in a Series C fundraising round led by CapitalG, the growth equity investment fund of Alphabet, Google’s parent company.

BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings

Xconomy

Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit ratings, and Reorg Research in information services—three sectors that relate to BitSight’s business, CEO Tom Turner points out. The Series D round included investments from previous BitSight backers Menlo Ventures, GGV Capital, and Singtel Innov8.

Ostendo Raising Funds to Advance Virtual Reality Display Technology

Xconomy

The financing includes both new investment funding and a conversion of debt to equity, according to a notation in the filing. Adding to the confusion, the most-recent MoneyTree Report on San Diego venture capital activity shows that Ostendo raised almost $10 million in VC funding during the second quarter. Razi, Bussel, and Dull are also on the board of Ingenu, the San Diego wireless technology company known previously as On-Ramp Wireless.

Biotech Roundup: Scangos’s Exit, Zafgen’s Shakeup, Jounce, Relypsa & More

Xconomy

It’s the first partnership for Jounce, and a big one: the startup got a $225 million up front cash payment from Celgene and a $36 million equity investment. —Bruce Bigelow profiled Dauntless Pharmaceuticals , a stealthy biotech company creator in San Diego forming single-drug startups. The top news in biotech this week centers around one big job opening: the head seat at Biogen, now that George Scangos has announced plans to leave the company.

Radicle Accelerator Fund Launches to Nurture AgTech Innovation

Xconomy

Radicle, which takes its name from the botany term for the part of a plant embryo that develops into the primary root, was founded by a mix of agricultural investment and industry heavyweights.

Audentes Prices $75M IPO As Gene Therapy Eyes First U.S. Approval

Xconomy

Today, it’s San Francisco’s Audentes Therapeutics, which aims to use gene therapy to treat a group of rare diseases. million in equity financing since its 2012 inception, and had $80.3 As the possibility of the first ever gene therapy approval in the U.S.

Latest Data Show Venture Capital Industry on Pins and Needles

Xconomy

According to the National Venture Capital Association and PitchBook , this past quarter $15 billion was invested in 1,810 deals , which compares unfavorably to both the prior quarter ($22.1 billion of value, coincidentally an amount just below how much was invested that quarter.

Exit Interview: Lita Nelsen on MIT Tech Transfer, Startups & Culture

Xconomy

I don’t know if it was their first investment, but they invested $75,000 in a researcher named Ken Olsen, at MIT. And we started to do it more officially, take some equity in the companies, allow the faculty to have equity—but still have exclusive licenses. [ Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond. ]. MIT’s approach to nurturing entrepreneurship has changed a lot over the past 50 years.

Reflections on 2018: Andy Wilson, Alliance for SoCal Innovation

socalTECH

In my new role as the first executive director for the Alliance for Southern California Innovation, I spent a lot of time outside of my home turf of Pasadena -- visiting innovation nodes such as San Diego, Irvine, Riverside, Santa Barbara, Venice, Santa Monica, and others. Just as entrepreneurs need to have thoughtful answers about business models and customer acquisition, I think they now will also need to be prepared to address issues on community impacts and equity.

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