Australia’s Infomedia has received a preliminary buyout offer while GD1 joins as the lead investor in a new fund from fellow New Zealand VC firm Phase One Ventures. Meanwhile, Bangladesh-based agri platform iFarmer completed its pre-Series A round.
Battery Ventures bids $471m for Infomedia
Australia-listed SaaS player Infomedia Ltd has received a A$657.6 million ($466.76 million) preliminary buyout offer from US private equity firm Battery Ventures, Reuters reported.
This offer is higher than a A$638.8 million rival bid from a consortium led by TA Associates.
Infomedia said it intended to open its books to Battery Ventures and give access to the same historical information as to the TA Associates-led consortium.
Founded in 1983, Battery Ventures is a tech-focused investment firm with offices in the US, Europe and Israel.
New Zealand’s GD1 backs tech fund, incubator
Venture capital firm Global From Day 1 (GD1) has joined as the lead investor in a new fund and incubation programme from fellow New Zealand VC firm Phase One Ventures.
“The technology sector is what will future proof NZ. I’ve seen this happen firsthand in Australia where the tech sector has created so many jobs and opportunities for the country,” said Phase One Ventures CEO Mahesh Muralidhar.
“We’re aiming for a collection of incredibly valuable Kiwi companies that will create generation-defining change for the county,” he added.
NZ-based GD1 invests across the seed to scale stages.
Bangladesh’s iFarmer raises $2.1m
Bangladesh-based agriculture platform iFarmer has completed its $2.1 million pre-Series A funding round led by IDLC Ventures, the VC arm of non-banking finance firm IDLC Finance.
New York-based Millville Opportunities and Startup Bangladesh Limited also participated in the round.
Launched in 2019, iFarmer offers comprehensive solutions for farmers, agricultural input sellers, and buyers, including retailers, processing companies, and wholesale markets.
With this round, iFarmer plans to expand to more districts in Bangladesh, expand its supply chain infrastructure to supply more agricultural inputs, and aggregate farm produce.