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Capital Gains: Food Videos, Adele's Business Partners and More Funding News

Slack and the University of California launched new funds.

Todd Bernard

The University of California, an online lender, food videos, ticket sales, payments security and a bunch of other entities announced major funding news this week. Here are the headlines:

  • Another online lender focused on giving money to millennial borrowers, Pave, has raised a startling amount of money. This time it’s $300 million in a mix of debt and equity financing from hedge fund Seer Capital and other investors (Wall Street Journal).
  • Billionaire Sacramento Kings owner and entrepreneur Vivek Ranadivé is starting a $250 million fund with the University of California that will focus on investing in companies that began from UC research (Los Angeles Times).
  • Private equity investor CVC Partners is putting $80 million into Boise, Idaho-based Kount, which makes payments security technology that deals with online fraud (New York Times).
  • Office collaboration software maker Slack has raised so much money that it’s launching an $80 million fund with major VCs including Accel, Andreessen Horowitz and Kleiner Perkins Caufield & Byers. It will invest in startups that make third-party integrations with Slack’s platform.
  • Digital Guardian, a startup that helps companies minimize the amount of data they lose in the event of a breach, raised a $66 million Series D funding round that included GE Pension Trust (advised by GE Asset Management), Fairhaven Capital Partners, Loring Wolcott & Coolidge and others (eWeek).
  • Tastemade, a media startup that specializes in making videos of food that are popular on social media, raised $40 million in a round led by Goldman Sachs, with participation from Comcast*, Redpoint, Raine and Scripps.
  • Sequoia Capital is investing $35 million in Clover Health, an online health insurance company that uses data analysis to reduce medical costs for senior citizens who use government-subsidized, private alternatives to Medicare (Fortune).
  • NextCapital, an automated financial information and advice provider that works directly with financial institutions, raised $16 million in Series B funding from AllianceBernstein, which led the round, plus Manulife Financial Corp. and Route 66 Ventures (Chicago Tribune).
  • British event tickets sales company Songkick, which partnered with Adele for her latest tour, landed $10 million from Access Industries, the parent company of Warner Music (The Guardian).
  • There are fewer ad and marketing tech companies raising money now, but here’s one: Full Circle Insights, which closed a $4.7 million Series B led by Salesforce Ventures and Aligned Partners (VentureBeat).

* Comcast owns NBCUniversal, an investor in Vox Media, which is the owner of this website.

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