FRANKFURT/SINGAPORE: A succession of funding deals by deep-pocketed sovereign wealth funds have thrown a life preserver to some of the world’s biggest private tech firms whose high valuations have come under scrutiny in the past year.
Saudi Arabia and other Gulf States along with state-backed investors in Singapore and China have ploughed money into hot tech investments such as ride-sharing company Uber and Chinese Internet giant Alibaba and its private affiliates.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!