Connect with us

Uber Could Use Sovereign Wealth Fund Money

Published

on

San Francisco-based Uber Technologies, the driver-for-hire car service, could use some sovereign wealth money to fuel growth, payback earlier investors and participate in tighter regulatory car service markets. In addition, one reason why a sovereign wealth fund may be a better investor for Uber than a venture capital firm is that SWF capital is long-term and patient (not true in all cases). Generally, a sovereign investor would have less financial demands than a typical VC firm would – enabling management with more autonomy. Sovereign fund money could also assist Uber in opening up regulatory hurdles faster in countries like China, Singapore, Italy or the United Arab Emirates. With regard to China, Uber has already carefully launched in Shenzhen, one of China’s technology hubs.

After private equity money, is sovereign wealth money the next step?

Uber is increasingly being used across major U.S. cities as an alternative to yellow cabs and taxis. Through leaked reports, Uber’s revenues are growing fast; however, competition is mounting with companies like their rival Lyft and other challengers like Gett and Hailo. By receiving a large injection of SWF capital, Uber would be able to grow their network and proliferate in more cities.

Already UBER has moved from venture capital and angel money to corporate VC and private equity capital. During initial financing rounds, Uber’s CEO Travis Kalanick raised capital from Goldman Sachs, Menlo Ventures, Bezos Expeditions, Lowercase Capital and other investors. Investor money was used for replicating their go-to-market strategy across new cities. In August 2013, it was reported that Uber raised US$ 361.2 million in new funding in which the capital mostly came from Google Ventures and TPG. This values the company at around US$ 3.5 billion. David Bonderman, founding TPG partner, joined Uber’s board. After private equity money, is sovereign wealth money the next step?

SWFI First Read, September 19, 2018

Published

on

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. ]

Continue Reading

Japanese Government Capital Provides Initial Life for Texas Bullet Train

Published

on

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. ]

Continue Reading

DOJ Investing Tesla Over Musk Comments

Published

on

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.

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.