Japan-based Beyond Next Ventures has raised $67.7 million for the first close of its deeptech fund, while EQT has acquired veterinary and animal health services provider VetPartners.
BNV Fund III raises nearly $68m in first close
Japan-based venture capital firm Beyond Next Ventures has raised $67.7 million for the first close of its deeptech fund.
The fund, named “Beyond Next Ventures 3 Investment Limited Partnership”, will increase the maximum investment amount per company to 2 billion yen, which is roughly three times the maximum limit in the previous funds.
The fund targets to raise $168 million in total, according to a release.
Existing investors such as Organization for Small & Medium Enterprises and Regional Innovation, JAPAN, MUFG Bank, Dai-ichi Life Holdings, and Tokyo Century (USA) participated in the funding along with new investors including SMBC Nikko Securities, Mitsubishi UFJ Trust and Banking Corporation, FFG Venture Business Partners, and YAGAMI Co.
EQT to acquire veterinary services provider VetPartners
Swedish investment firm EQT has acquired veterinary and animal health services provider VetPartners, the largest provider of veterinary services in Australia and New Zealand, from National Veterinary Associates.
EQT will support VetPartners’s healthcare practitioners in focusing on animal care while investing significantly in diagnostic equipment, technology, innovation, recruitment and continued professional development.
The firm acquired VetPartners through its BPEA Private Equity Fund VIII, according to a release.
Founded in 2016, VetPartners provides healthcare services for animals ranging from basic preventative healthcare advice and services to higher acuity complex surgery.