By Evan Vitale
Here are some of the latest headlines and stories making news in the world of venture capital.
According to WSJ’s Venture Capital Dispatch, Bot Home Automation Inc., which does business as Ring, raised $61.2 million in Series C funding led by Kleiner Perkins Caufield & Byers.
The Santa Monica, Calif., company produces Wi-Fi-connected video doorbells, which allow users to remotely see who is standing at their door from their phones. The product gives users a notification when someone rings the bell or if its motion sensors detect someone in front of the house.
The company declined to disclose its valuation. PitchBook Data Inc. reported the company’s valuation jumped from $63.6 million to $202 million.
Chief Executive Jamie Siminoff said his goal is to use technology to make neighborhoods safer.
The full story is here:
The International Business Times is reporting Intel is planning to sell some assets of Intel Capital as a part of the ongoing restructuring of its investments division. It has mandated UBS Group AG to look for potential buyers.
According to Bloomberg, the California-based chip-maker is looking for a buyer who would purchase its assets housed within Intel Capital, worth almost $1bn (£709m).
“Discussions over the structure of the sale are at an early stage, with Intel open to selling the assets as a whole or divided by geography or sector focus…. The portfolio, which is made up of companies across the world, is housed within Intel’s corporate venture unit, Intel Capital,” sources told the news agency. Intel is expecting to sell the assets to private equity firm.
Intel Capital is the venture capital, merger and acquisition arm of the business, which was started in 1991. Since then it has invested more than $11.64bn in 1,440 companies across 57 countries. In 2015, it invested more than $514m in 143 companies.
The full story is here:
Reston, Va.-based StreetShares has closed on $4.5 million in new equity in the first tranche of its Series A round, Mr. Rockefeller told VentureWire. Financial-technology venture firm Fenway Summer, founded by Raj Date, former deputy director of the U.S. Consumer Financial Protection Bureau, is leading the round. Endeavor Equity Holdings and Pivot Investments also participated in the deal. The round is still open.
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