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Uber Raises Money, Didi Dache Gets a Turn

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Didi-dache screenshot taken on December 9, 2014

Didi-dache screenshot taken on December 9, 2014

Singapore’s Temasek Holdings has invested in a taxi-hailing app. Last week, SWFI confirmed that Qatar Investment Authority (QIA) invested in Uber. SoftBank invested US$ 250 million in Uber rival Malaysia-based GrabTaxi. Along with other investors, Temasek, Russian investment firm DST Global and Tencent Holdings invested a total of US$ 700 million in Didi Dache’s Series D round. Didi Dache claims that it has an excess of over 100 million registered users and is used in over 300 cities in China. In January 2014, Didi Dache raised US$ 100 million in a Series C round which had CITIC Capital Holdings and Tencent Industry Win-Win Fund as investors.

See the Institutional Investor Profile of Temasek Holdings

Didi Dache is seeking to hook up its taxi software to China’s public transportation network. In China, Didi Dache’s main competitor is Kuaidi Dache, an app backed by the Alibaba Group.

Temasek Holdings and its venture arm, Vertex Venture Holdings, have invested in a number of Asian startups. Temasek Holdings invested in Lazada recently.

Blackstone and Goldman Invest in Francisco Partners

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Larger alternative investment houses and banks are taking ownership stakes in specialist private equity firms. On July 13, 2018, Blackstone Group’s Strategic Capital Group and Goldman Sachs Asset Management’s Petershill program acquired a minority stake in San Francisco-based Francisco Partners. Francisco Partners is a private equity firm focused on tech-related companies, competing against Thoma Bravo, BC Partners, Vista Equity Partners, Bain Capital and other specialists.

Dipanjan (DJ) Deb is the Co-Founder and CEO of Francisco Partners. Before forming the company in 1999, he was a Principal at Texas Pacific Group (TPG).

Advisors

Francisco Partners was advised by Evercore and Kirkland & Ellis LLP. Simpson Thacher served as legal counsel to Blackstone and Fried Frank served as legal counsel to Goldman Sachs.

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GE Joins Mitsubishi and Summit Power on Bangladesh Thermal and LNG Massive Development

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General Electric, Japan-based Mitsubishi Corporation, and Bangladesh-based Summit Power Limited formed a joint venture to invest and construct a US$ 3 billion thermal power plant with a capacity of 2,400 megawatts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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