Sovereign wealth funds throw funding lifeline to tech ventures: Reuters
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.
8 June 2016•4 mins read
