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The secret to how startups like Uber raise billions: Saudi Arabia, China and Singapore

  • Didi Chuxing, Uber’s chief rival in China which has raised billions and plans to raise billions more , is backed by China’s wealth fund , China Investment Corporation.
  • Just when you thought the startup market can’t possibly get any crazier, Uber goes and raises another $3.5 billion in funding .
  • The concern is that these sovereign wealth funds – along with mutual funds and other non-traditional tech investors – are further inflating the startup bubble by helping young, private companies raise more capital than many established businesses receive when going public on a stock exchange.
  • So far this year, these sovereign wealth funds have made 15 investments in startups, including the most recent investment in Uber, according to data provided to Mashable by PitchBook, a venture capital database.
  • Singapore’s sovereign wealth fund has backed billion-dollar tech companies like Square, Xiaomi and FlipKart.

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@mashable: “The secret to how startups like Uber raise billions: Saudi Arabia, China and Singapore.”


Today’s tech startups are raising billions without going public. This is one of the reasons why.


The secret to how startups like Uber raise billions: Saudi Arabia, China and Singapore

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