HV Capital has closed a $785M fund to invest in early-stage SaaS and fintech startups. The firm's average check size ranges from $553,000 to $66M. More: - This fund will be deployed across two separate entities: HV Capital Fund IX and Fund IX Venture.
- HV Capital focuses on verticals such as:
- fintech,
- SaaS,
- climate tech,
- and consumer goods.
- HV currently has over $2.6B worth of assets under management.
- The firm has invested in around 225 tech companies since its inception, some of which are:
- Depop,
- Flixbus,
- and Zalando.
- The company is based in Berlin, Germany.
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 Convergent Therapeutics has raised a $90M Series A funding round to develop cancer therapies. This is the company's first major funding since its inception in 2021. More: - Convergent Therapeutics is a clinical-stage biotechnology company focused on developing radiopharmaceutical therapies for patients who suffer from cancer.
- Convergent Therapeutics is pursuing radio-antibody targets to treat cancer by minimizing damage to healthy tissues.
- Currently, the company is in the clinical trial process for a therapy that aims to help patients with prostate cancer.
- The round was led by OrbiMed and RA Capital Management, with participation from Invus.
- The firm is based in Cambridge, Massachusetts.
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Brightspark Ventures has closed a $75M fund to invest in pre-Series-A startups. Brightspark has over $500M under management in Canadian tech companies. More: - BCOF II focuses primarily on pre-Series A opportunities in early-stage transformational technology companies, with a particular focus on those with high-level leadership, market-redefining value propositions, and unique intellectual property.
- Brightspark has invested in 12 companies across Canada, including:
- DrugBank,
- Elevate Farms,
- Optable,
- and Potloc.
- The fund was backed by Desjardins Capital, Investissement Québec, Fonds de solidarité FTQ, Fondaction, Fonds québécois d’amorçage Teralys, and Royal Bank of Canada.
- The company is based in Toronto and Montreal.
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Simpplr has raised a $70M Series D to help businesses improve their company culture through AI. The company expects that its annual recurring revenue will grow at least 70% YoY. More: - Simmplr offers an online platform where employees can create profiles, share content, follow users, and engage in polls or surveys.
- The company claims that its platform has over 1 million users globally.
- Sapphire Ventures led the funding round, with participation from Norwest Ventures, Tola Capital, and Salesforce Ventures.
- The company is based in Redwood, California.
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💵 Today's funding: Cybersecurity - Sourcepass (New York), a cybersecurity services provider: $65M Growth led by Metropolitan Partners Group.
Healthcare tech - Magenta Medical (Israel), develops miniaturized blood pumps: $55M Growth led by OrbiMed, with participation from New Enterprise Associates, Pitango VC, and ALIVE.
- Healthy.io (Massachusetts), transforms the smartphone camera into a clinical-grade device: $50M D led by Schusterman Family Investments.
- Intrinsic (New York), an omnichannel consumer health company: $15M Growth led by FCA Venture Partners and MAP Investco, with participation from Define Ventures, Link Ventures, Redesign Health, and others.
Biotech - ARTHEx Biotech (Spain), develops microRNA therapies: $46M B led by Columbus Venture Partners, with participation from the European Innovation Council, Hadean Ventures, Sound Bioventures, Invivo Capital, AdBio Partners, and the Centre for the Development of Industrial Technology.
- Embr Labs, Inc. (Massachusetts), develops a wearable device that delivers calibrated cooling or warming sensations: $35M growth led by GT Investment Partners.
Entertainment - Duetti (New York), provides access to funding for music artists: $32M Growth led by Viola Ventures and Viola Credit, Roc Nation, Untitled, and Presight Capital.
SaaS - Pando (California), provides software that aims to help companies improve their supply chain efficiency: $30M B led by Iron Pillar and Uncorrelated Ventures, with participation from Nexus Venture Partners, Chiratae Ventures, Next47, and angel investors.
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Quick Hits: - The company behind these surgical robots is planning to list on Nasdaq. Last day to fund your investment is on 5/10.*
- Range, a startup that provides an AI-powered wealth management platform, has raised a $12M funding round led by Gradient Ventures, with participation from Expa, Red Sea Ventures, 8-bit Capital, and angel investors.
- MultiOmic Health, a U.K.-based drug discovery company: $6.2M Growth led by Hoxton Ventures, with participation from Ada Ventures, MMC Ventures, and Verve Ventures.
- Spain-based compliance software platform Nalanda has acquired Dokify for an undisclosed amount.
- Checks, a California-based compliance intelligence platform: undisclosed exit to Google.
- Demo Divvy, get an Ember heated mug. Hot coffee and quick and easy expense management — get both when you demo Divvy.*
*This is sponsored content.
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*This is a sponsored listing.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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