The Briefing: NGP Launches $400M Fund, Marvel Fusion Raises $40M, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

NGP launches $400M fund backed by Nokia

NGP Capital announced the launch of a new $400 million Fund IV, with Finland’s Nokia as sole backer.

The fund will focus on growth-stage investments in edge cloud, cybersecurity, digital industry and digital transformation growth-stage companies. It will place a particular emphasis on companies developing emerging 5G use cases for industrial and business transformation.

Launched in 2005, NGP Capital has over $1.6 billion under management and has invested in more than 100 companies.

— Joanna Glasner

Marvel Fusion raises $40M

Munich-based Marvel Fusion, a developer of fusion energy technology, announced it raised 35 million euros ($40 million) in a Series A funding round led by Earlybird. The company says it is collaborating with Siemens Energy, TRUMPF and Thales to boost fusion energy with an eye toward building a global zero-emissions energy supply.

— Joanna Glasner

Funding rounds

Flip pockets $30M: Stuttgart, Germany-based Flip, an app for connecting employees, raised $30 million in a Series A funding round backed by Cavalry Ventures.

— Joanna Glasner

ClearEstate clears $13M Series A from OMERS: Montreal-based ClearEstate, a solution that supports executors in estate planning, has raised a Series A funding of $13.25 million led by OMERS Ventures1. The company has offices in Ontario, California and Texas. ClearEstate previously raised a $2 million seed round in June 2021 from Triangle Capital Corp., NAventures and Diagram Ventures. 

— Gené Teare


Connected Capital closes on $176M 2nd fund: Amsterdam-based private-equity firm Connected Capital has closed a second fund at $176 million to invest in B2B SaaS companies in Europe. According to Crunchbase data the firm has made nine investments since 2017 with its most recent in Netherlands-based  safer payments company SurePay, its first investment from fund 2. The firm has $229 million under management. 

— Gené Teare

Illustration: Dom Guzman

  1. OMERS Ventures is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

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