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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

announced the launch of a new $400 million Fund IV, with Finland’s 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.

—听Joanna Glasner

Marvel Fusion raises $40M

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

—听Joanna Glasner

Funding rounds

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

—听Joanna Glasner

ClearEstate clears $13M Series A from OMERS: Montreal-based , a solution that supports executors in estate planning, has raised a Series A funding of $13.25 million led by 1. The company has offices in Ontario, California and Texas. ClearEstate previously raised a $2 million seed round in June 2021 from , and 听

— Gen茅 Teare

Funds

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

— Gen茅 Teare

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