Adam Street Partners leads $38 mln round for Smule

Musical performance social network Smule has secured $38 million in funding. Adam Street Partners led the round with participation from other investors that included Bessemer Ventures and Shasta Ventures. City National provided the debt financing for the transaction. In conjunction with the funding, Adams Street’s Dave Welsh has been appointed to Smule’s board.

Acceleron Pharma Inks $30M

Cambridge, Mass.-based Acceleron Pharma Inc. has raised $30 million in financing. The company said that strategic partner Celgene contributed to the round, along with “all other existing investors.” Acceleron has raised capital from Advanced Technology Ventures, Alkermes, Avalon Ventures, Bessemer Ventures, Celgene, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock. The new funds will be used to expand the company’s clinical stage pipeline.

Smule Calls Up $12M in Fresh Capital

Music app maker Smule Inc. has raised $12 million in new venture financing, according to a regulatory filing. The company, based in Palo Alto, Calif., is behind music apps including “I am T-Pain” and “Glee Karaoke.” Smule is backed by investors including Shasta Ventures, Granite Ventures and Bessemer Ventures. The company’s board includes Granite Ventures’ Christopher Hollenbeck, Bessemer’s David Cowan and Shasta Ventures’ Jason Pressman.

VC-Backed Acceleron Nabs $1.5M Grant

Acceleron Pharma, which is backed by firms including Advanced Technology Ventures, Bessemer Ventures, Polaris Ventures, Sutter Hill Ventures and Venrock, was awarded a $1.5 million grant from the Muscular Dystrophy Association. The grant will go to support clinical studies of the company’s products.

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