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BIG DEAL: Singapore Sovereign Wealth Fund Poised for Square Investment

Twitter co-founder Jack Dorsey’s current venture Square is looking to raise capital at a US$ 6 billion valuation. San Francisco-based Square, a mobile payments company, is trying to revolutionize the world of credit card payments by turning smart phones into a credit card terminal. Founded in 2009, Square was valued at US$ 5 billion earlier in 2014, from a major secondary stock sale led by Square employees. In the past, Square has raised capital from leading venture capital firms such as Kleiner Perkins Caufield & Byers and Sequoia Capital.

Related: Why Sovereign Wealth Centers on San Francisco Bay Area

Sovereign wealth funds, especially Asian sovereign wealth funds have been keen on technology companies and venture capital deals.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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