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June 6, 2011
The Daily Start-Up: Sequoia Makes “Big Data” Move With Mu Sigma
Top stories in today’s VentureWire:
When dealing with “Big Data,” you need big numbers. Mu Sigma, a provider of data analytics services to more than 50 Fortune 500 companies, has raised a $25 million Series C-2 round from Sequoia Capital, VentureWire has learned. Mu Sigma employs more than 1,200 analysts, many of them based in India, that help corporate teams learn to use data to make decisions on everything from prices to supply chain analytics to marketing. Sequoia Capital India Managing Director Shailendra Singh said Sequoia has been watching Mu Sigma for four years.
Sofinnova Ventures has begun marketing its next fund, but this time around the firm plans to focus the fund’s investments exclusively on life science deals, according to people familiar with the firm. Sofinnova, which is targeting $325 million for the new fund, opted to divide its IT and life science strategies into two separate funds partly in response to demand from limited partners.
Also, with many small biotechnology concerns struggling to raise cash, venture capital firms see growing opportunity to buy these companies’ drugs cheaply and resell them at a profit, VentureWire reports…Summit Partners is increasing the size of its venture capital offering to $500 million from $450 million…and Peterson Partners has closed on $50 million for its sixth fund and may raise another $10 million over the next six months, VentureWire has learned.
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