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Sovereign Wealth Money in Latest Airbnb Round

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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. ]

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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