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, Reuters reported. With overall funding for startups slowing down by a third to US$25.5 billion in the last two quarters, according to data from CB Insights, high-profile ventures are turning to government funds or institutional money to create "private IPOs" rather than to venture capitalists or chancing public listings. These capital injections have helped to keep valuations high as other tech ventures have been marked down by some earlier backers.
4 min read · 08 June 2016
Ousted LendingClub Corp (LC.N) CEO and co-founder Renaud Laplanche has been speaking to private equity firms and banks about financing a potential buyout of the online lender, sources told Reuters.
2 min read · 08 June 2016
Private equity firm Blackstone Group LP (BX.N) is in advanced discussions to acquire Acrisure LLC, in a deal that could value the U.S. insurance brokerage at well over $2 billion, including debt, sources told Reuters News.
2 min read · 08 June 2016
Greenko Energy Holdings, one of India's leading renewable energy firms, said on Tuesday it has secured $230 million in total new funds from an entity owned by the Abu Dhabi Investment Authority (ADIA) and an affiliate of Singapore sovereign wealth fund GIC.
1 min read · 07 June 2016
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, Reuters reported.
4 min read · 07 June 2016
German battery maker sonnen GmbH on Monday said it has secured financial backing from GE Ventures, General Electric's venture capital subsidiary, to develop its brand of residential power storage systems, Reuters reported.
2 min read · 07 June 2016
The Four Seasons Toronto, a luxury hotel in the city's downtown, is up for sale and could fetch as much as $250 million in what would be one of the most-expensive deals ever for a hotel in Canada, sources told Reuters. The hotel belongs to Kingdom Holding Co 4280.SE, an investment group owned by Saudi billionaire Prince Alwaleed bin Talal. Bidders may include hotel chains, private equity firms and rich individuals, the sources said.
2 min read · 07 June 2016
RIT Capital Partners Plc, a British investment trust chaired by financier Jacob Rothschild, said on Tuesday it did not intend to make an offer for Alliance Trust Plc, Reuters reported.
1 min read · 07 June 2016
Verizon Communications Inc plans to submit a second-round bid of around $3 billion for Yahoo Inc's core internet business, the Wall Street Journal reported, citing people familiar with the matter.
1 min read · 07 June 2016
Activist investor Jonathan Litt opposed NorthStar Asset Management Group Inc's merger with Colony Capital Inc, saying the deal did not provide fair value to shareholders and called for a special shareholder meeting, Reuters reported.
1 min read · 06 June 2016
