SWFI First Read, March 28, 2019

Posted on 03/28/2019

Mozambique Restarts SWF Discussions

Mozambique’s government has restarted talks on creating a sovereign wealth fund from gas production. In Maputo, Mozambique President Filipe Nyusi made the announcement that a portion of the gas revenue could be used to fund the state budget, fund infrastructure, reduce poverty, and provide a level of economic diversification. Anadarko Petroleum Corporation seeks to make a final decision on a US$ 20 billion project in Mozambique.

Innoviz Technologies Raises Series C Round

Innoviz Technologies Ltd. is an Israeli developer of solid-state LiDAR sensors and perception software. Innoviz Technologies raised US$ 132 million in a Series C round from China Merchants Capital (through SINO-BLR Industrial Investment Fund, L.P.), Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, and Phoenix Insurance Company.

Abu Dhabi and Uzbekistan Explore Energy Deals

Mubadala Investment Company signed a number of agreements with some Uzbekistan government entities such as the Minister of Investments and Foreign Trade to the Republic of Uzbekistan. Some of these agreements including exploring future partnerships across the conventional power generation, renewable energy, and the oil and gas sectors of Uzbekistan’s economy. Other talks at the summit included entities such as Abu Dhabi Power Corporation, JSC Uzbekenergo, and Mubadala Petroleum.

Tencent Leads Series B in Shuidichou

Tencent Holdings Limited led a US$ 74 million Series B investment round into Shuidichou. Shuidichou is a Chinese healthcare crowdfunding platform.

Qupital Gets More Money from CreditEase FinTech

Hong Kong-based Qupital Limited raised US$ 15 million in a Series E round. Leading the round is CreditEase FinTech Investment Fund. Other investors in Qupital for this round are Alibaba HK Entrepreneurs Fund and MindWorks Venture. Qupital is a trade financing platform for small-to-medium sized businesses. CreditEase FinTech Investment Fund was formed in February 2016 and raised an equivalent of US$ 1 billion in the total committed capital. CreditEase is a FinTech company in China.