VENTURE CAPITAL POST

Microsoft said through its newly appointed head Kabelo Makwane that it has reinstated its development commitment in the Africa through a 20-year business plan that would boost economic growth and development in the African region.

Petrobas, the top oil producer of Brazil, has been looking for potential buyers to acquire its assets in Nigeria valued $5 billion as the company plans for divestment of international assets.

Atlanta, US-based security software provider Damballa pocketed $13 million in venture funding from its existing investors to beef up its sales force and support its growth campaign in North America.

Michigan, US-based biopharmaceutical firm ProNAi Therapeutics landed $60 million in its Series D funding round led by Vivo Capital to advance its cancer treatment drugs to the second phase of clinical trials.

Bellevue, US-based Internet business operator Blucora acquired Atlanta, Georgia-based explainer site HowStuffWorks in a deal valued at $45 million in cash from Discovery Communications, which had bought the site in 2007 for $250 million.

Tom Preston-Werner, the co-founder and president of San Francisco, US-based social coding network, stepped down from his position after former employee Julie Horvath claimed she experienced gender-based harassment and retaliation in the company.

Santa Monica, US-based music streaming service Beats Music is looking to raise between $60 million and $100 million in a new funding round in a bid to keep up with bigger rival Spotify, as the Beats Electronics spin-off failed to attract the targeted number of subscribers since its January launch.

First Foundation Inc, a financial services company offering clients in multiple locations in the US, has filed for an intended initial public offering of common stock with the US Securities and Exchange Commission.

Russia's top oil producer has been planning to sell more than 2 million metric ton of crude oil to state-controlled BP in a deal valued more than $1.15 billion and was approved by the company's board.

Genco Shipping & Trading has filed for Chapter 11 bankruptcy protection on Monday as it planned to restructure the company and emerge immediately from bankruptcy although it did not provide a specific time frame for the move.

A lawsuit was filed against Twitter by two firms claiming that the microblogging platform has committed a pre-IPO fraud to justify the company's $10 billion valuation was dismissed by a US District Judge in New York.

Microsoft's deal to acquire Nokia valued $7.2 billion have been set to close on Friday which is also in time for the company's target saying that the deal was expected to close during the first quarter of 2014.

Beauty box sampler, Birchbox, has received USD60 million in Series C funding round led by Viking Global Investors and other financiers including Accel Partners, Consigliere Brand Capital, Aspect Partners and First Round Capital.

AdRoll has taken in USD70 million Series C funding round led by Foundation Capital and other new and existing investors including Institutional Venture Partners, Glenmede, Northgate Capital, Performance Equity, Peter Thiel, Merus Capital and Accel Partners.

CFAO Auto Group has been looking at the potential car market in Nigeria following other multinational companies including Toyota, Nissan and Kia's entrance to the country through local partnership with distributors for car assembly and production.

Oil and gas producer Seplat, the first publicly listed oil and gas firm in the Nigerian bourse, said that it would end its gas flaring activities in the country by September and expects that the practice would be halted in the country by 2020.