Tag: closes

Pontifax AgTech Closes $302 Million Food and Agriculture Technology Fund

SANTA MONICA, Calif., Oct. 8, 2020 /PRNewswire/ — Pontifax AgTech Management (“Pontifax AgTech” or “the Firm”), a leading global growth capital investor in the global food and agriculture sector, today announced the final close of its second fund, Pontifax Global Food and Agriculture Technology Fund II (“Fund II”), with commitments totaling $302 million. Fund II reached its extended hard cap of $300 million and was oversubscribed, bringing the Firm’s current total AUM to $465M.

Fund II attracted commitments from leading institutional investors, comprised of domestic and international financial institutions, state pension funds, university endowments, foundations, investment firms, large-scale growers and family offices. The Firm’s initial fund closed at $105 million in October 2017.

Pontifax AgTech invests globally in commercially established businesses with proven technologies that improve the productivity, sustainability and efficiency of the food and agriculture supply chain. The Firm’s principals work with a proprietary network

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A2 Biotherapeutics Closes $71.5M Series B to Begin Clinical Development of Its Potentially Transformative Selective Tumor Cell Therapeutics

A2 Biotherapeutics (www.a2bio.com), a biotechnology company developing innovative cell therapies for solid tumor cancer patients, today announced the closing of its $71.5M Series B financing. Proceeds will fund the advancement of its Tmod (T-cell module) platform and the clinical development and in-house manufacturing of its three near-term product candidates. Tmod-engineered T cells uniquely combine a potent activating mechanism to kill tumor cells with a blocking mechanism that protects normal cells from harm by exploiting the loss of genetic material in tumors. “We are the first company to create robust engineered T cells that can integrate two signals in this way, harnessing the awesome power of immune cells to attack tumors that have lost specific genes, while sparing normal cells whose genomes are intact,” said Scott Foraker, president and chief executive officer of A2.

The Tmod design and proof-of-concept work was published last Friday in Molecular Immunology (Hamburger et al., 2020).

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Surfer magazine, iconic touchstone of beach culture, closes

Surfer magazine, which helped legitimize wave-riding as a global sport through its lush photography and California-cool stories, printed its final edition and suspended operations this month, to the dismay of the legions of baby boomers who once lingered at newsstands waiting for the latest issue.

Founded in 1960 and beloved by pre-internet-age surfers from Mission Beach to Biarritz, the magazine furloughed staff Friday and ceased further print and online content offerings. Though founded in Orange County, the magazine was based in recent years in Carlsbad.

“The whole staff got let go yesterday (no, nothing to do with the heat from the Biden endorsement, just the COVID economy), but I feel like we’re ending on a high note with this one,” Editor in Chief Todd Prodanovich said in an Instagram post about the final issue.

“Funny how you can work a job like this for 10 years and each issue is

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Wingman Ventures: Swiss VC fund closes $83 million for startups

  • Swiss VC fund Wingman Ventures has closed an $83 million early-stage fund to invest in Swiss startups.
  • Wingman only invests in pre-seed and seed stage startups out of Switzerland, where it believes there is a significantly underserved tech ecosystem.
  • “Swiss founders have traditionally been funded by risk averse, corporate backers and don’t understand the broader tech ecosystem,” Wingman Ventures partner Alex Stöckl said.
  • Visit Business Insider’s homepage for more stories.

Swiss VC fund Wingman Ventures has closed a 76CHF million ($83 million) early-stage fund.

Wingman invests in pre-seed and seed stage startups out of Switzerland, where it believes there is a significantly underserved tech ecosystem.

The country of just 8 million people is one of the wealthiest nations in the world, but has a certain insularity which has prevented its growth as a tech ecosystem, according to Wingman Ventures founding partner, Alex Stöckl. 

“Swiss founders have traditionally been funded by

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Wall Street closes sharply lower as Trump tests positive for coronavirus

NEW YORK (Reuters) – U.S. stocks closed lower on Friday as news that U.S. President Donald Trump tested positive for COVID-19 put investors in a risk-off mood and added to mounting uncertainties surrounding the looming election.

Tech shares weighed heaviest on the indexes, but the blue-chip Dow’s losses were mitigated by gains in economically sensitive cyclical stocks.

Despite Friday’s sell-off, the S&P and the Nasdaq both gained 1.5% on the week, while the Dow ended the session 1.9% higher than last Friday’s close.

Trump tweeted late Thursday that he had contracted the coronavirus and would be placed under quarantine, compounding the unknowns for an already volatile market.

But stocks pared losses after the White House provided assurances that Trump, while experiencing mild symptoms, is not incapacitated.

“This injects further uncertainty into the outcome of the election,” said Roberto Perli, head of global policy research at Cornerstone Macro in Washington. “My

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Zynga Closes Acquisition of Istanbul-Based Rollic, a Leader in the Fast-Growing Hyper-Casual Games Business

  • Entry into One of the Largest and Fastest Growing Mobile Game Categories

  • Expands and Diversifies Zynga’s Advertising Business

  • Adds a Highly Talented Team and Extensive Network of External Developers

Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, and Rollic, an Istanbul-based mobile games developer and publisher with an exciting portfolio of popular hyper-casual games that have been downloaded more than 365 million times, announced today that the companies have closed the transaction under which Zynga acquired 80% of Rollic for a total purchase price, including working capital adjustments, of approximately $180 million in cash. Over the next three years, Zynga will acquire the remaining 20% in equal installments at valuations based on specific topline and profitability goals.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201002005010/en/

Zynga Closes Acquisition of Istanbul-Based Rollic, a Leader in the Fast-Growing Hyper-Casual Games Business (Photo: Business Wire)

The Rollic acquisition

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Trym Closes $3.1M Seed Round to Advance Cannabis Cultivation Software and Accelerate Growth

7thirty Capital and Delta Emerald Ventures co-led the investment with participation from Welcan Capital, Arcview Collective Fund, and others

NOVATO, Calif., Sept. 29, 2020 /PRNewswire/ — Trym, a pioneering cannabis cultivation software company, is pleased to announce the completion of its $3.1M seed funding round of financing. In addition to an initial friends and family of $1M, 7thirty Capital and Delta Emerald Ventures co-led the preferred round of $2.1M. Welcan Capital, Arcview Collective Fund, and others also participated in the oversubscribed round. The funding will enable Trym to make further software advancements and expand its trusted farm management platform into new markets.

(PRNewsfoto/Trym)
(PRNewsfoto/Trym)

“Our investors are a perfect match with Trym’s DNA,” said Matt Mayberry, CEO and co-founder, Trym. “They understand that connectivity is the future of cannabis agriculture and that to stay in the game, commercial cultivators have to closely track and manage all aspects

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Wall Street closes up on tech rally despite mixed signs on economic rebound

(Reuters) – Wall Street rallied in a rocky session on Thursday as beaten-down technology shares gained favor after data showing a surge in the sale of new homes revived faith in the economic recovery even as U.S. jobless claims rose unexpectedly.

Stocks also reacted positively to news of efforts to enact further stimulus in Washington, helping lift the S&P to a session high, although the index then turned negative before retracing some gains.

, stocks that have outperformed at a time of increased economic uncertainty, all rose.

The wild session indicated caution was in store, said Dennis Dick, a trader at Bright Trading LLC, who warned market sentiment that drove momentum has sharply changed.

“Fear of missing out has turned into to fear of losing actual money,” Dick said. “This is a shakeout of all the Robinhood traders, a shakeout of retail investors. They’re getting punished, and rightfully so, because

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S&P 500 closes at lowest level since July as tech shares fall anew

Stocks accelerated losses into the close, erasing earlier gains and ending an advance that began on Tuesday. The S&P 500, Dow and Nasdaq each had their worst day in two weeks.

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The S&P 500 sank more than 2%, led by a drop in the energy and information technology sectors, to close at its lowest level since the end of July. The Nasdaq’s more than 3% decline brought the index down also to near a two-month low.

The Dow fell to its lowest close since the beginning of August, even as shares of component stock Nike Nike (NKE) climbed to a record high after reporting quarterly results that far surpassed consensus expectations. However, the increase was offset in the Dow by declines in tech names including Salesforce and Apple.

Shares of Stitch Fix (SFIX) sank more than 15%, after the digital personal styling service posted a wider than expected

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Dow closes more than 100 points lower, Apple and Microsoft drag down tech

Stocks fell in volatile trading on Thursday amid renewed pressure in shares of major tech companies. Conflicting messaging on the coronavirus vaccine front and uncertainty around further stimulus also weighed on sentiment. 

The Dow Jones Industrial Average slid 130.40 points, or 0.5%, to 27,901.98, snapping a four-day winning streak. The 30-stock average fell as much as 384.45 points, while briefly turning positive during the wild session.

The S&P 500 dropped 0.8%, or 28.48 points, to 3,357.01. The Nasdaq Composite fell 1.3%, or 140.19 points, to 10,910.28. The tech-heavy benchmark briefly dipped back into correction territory, down 10% from its all-time high. 

“The market had gone up too much, too fast and valuations got to a point where that was more noticeable than before,” said Tom Martin, senior portfolio manager at GLOBALT. “So now you’re seeing the market correct a bit.”

“The question now is whether this is the kind of

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