Wealth Funds Become Bigger Backers in Tech – Report
Sovereign wealth funds continue to hunt for investments in the technology sector. Saudi Arabia’s Public Investment Fund (PIF) invested in a major multi-billionaire commitment to Uber Technologies, while the Singaporean wealth funds target niche opportunities in technology, agricultural science, pharmaceuticals and other areas.
BCG issued a short paper titled, “Sovereign Wealth’s Hunt for the Next Unicorn,” which shows that sovereign wealth funds are funding more and more tech deals. The paper highlights that the number of sovereign wealth-backed technology deals has increased by 38% since 2012 and represents around 27% of total deal flow in the tech space.
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