Connect with us

Sovereign Wealth Money in Latest Airbnb Round

Published

on

Screenshot of Airbnb Website - June 27, 2015

Screenshot of Airbnb Website – June 27, 2015

Sovereign wealth funds are not afraid of investing in billion-dollar startups. Venture capital insiders call some of these startups unicorns – essentially when a startup has exceeded an arbitrary equity valuation amount of US$ 1 billion through capital raises. Sovereign funds have allocated to startups such as Flipkart, VANCL, Square, Spotify and – yes, taxi cab service Uber Technologies. The Qatar Investment Authority (QIA) is an investor in Uber. The wealth fund is reportedly in the works of opening a New York office.

Over the years, Asian sovereign wealth funds like GIC, Temasek and the China Investment Corporation (CIC) have built informal networks and pipelines for major venture deal flow. This is why sovereign wealth investors are spending more time in the San Francisco Bay Area, building bridges with Silicon Valley’s in-crowd. Analyzing 2003 to current 2015 data from SWFI’s Sovereign Wealth Fund Transaction Database, sovereign funds are investing in higher frequency and amounts in Silicon Valley and Asia technology startups. The last major wave of sovereign wealth-backed venture capital investment was between 1997-2001, led by Temasek Holdings and GIC.

View Deals and Raises – Sovereign Wealth Fund Transaction Database

Slosh of Money for Airbnb

San Francisco-based Airbnb Inc., an online home-rental service, raised an astonishing US$ 1.5 billion, valuing the company at US$ 25.5 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Progetto Iride Issues Inaugural Tender for Joint PE Investment

Published

on

Progetto Iride, translated in English to Project Iris, is an investor group of five Italian pension funds. Progetto Iride issued an RFP for a private equity manager for a joint portfolio worth around €216 million.

The funds under Progetto Iride have €6,122,872,593 in assets as of December 31, 2018.

The five constituents of Progetto Iride are Foncer (€28 million allocation), Fondenergia (€72 million allocation), Fondo Gomma Plastica (€46 million allocation), Pegaso (€30 million allocation), and Previmoda (€39 million allocation).

Continue Reading

Flexstone, Hostplus Initiate U.S. Private Equity Program

Published

on

Australia-based superannuation fund Hostplus appointed Flexstone Partners to run a U.S. private equity emerging managers program. Flexstone Partners is owned by Natixis Investment Managers. The emerging managers program will see Flexstone Partners invest over the next three years in the first, second or third funds of U.S. middle-market private equity managers on behalf of the industry superannuation fund.

Hostplus is the industry superannuation fund for those who live and love Australian hospitality, tourism, recreation, and sport.

Flexstone Partners was formed in 2005 and is the combined entity of Caspian Private Equity, Euro-Private Equity France, Euro-Private Equity Swiss, and Eagle Asia Partners.

Continue Reading

Trump to Nominate Stephen Moore to Federal Reserve Board

Published

on

U.S. President Trump plans to nominate Stephen Moore to the Federal Reserve board. Moore is currently a visiting fellow at the Heritage Foundation. He served as a Senior Economic Advisor to Trump’s 2016 presidential campaign. In 1987, Moore was Research Director of U.S. President Ronald Reagan’s Privatization Commission. Moore also served as a Fellow at the Cato Institute and was a Senior Economist under the U.S. Congress Joint Economic Committee under Chairman Dick Armey of Texas

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.