Categorie
Digital Economy Sovereign Funds

The hunt for tech unicorns: How sovereign funds accelerate the digital economy (Winston Ma, ORF)

In July 2021, the food delivery company Zomato went ahead with its planned Initial Public Offering (IPO) in the Bombay Stock Exchange, becoming India’s seventh largest IPO of all time. The company raised US $564 million, and its anchor investors included sovereign investment funds like ADIA (UAE), CPP (Canada), OMERS (Canada), and GIC (Singapore). Prior to the IPO, the company had raised US $2.1 billion through private financing rounds, where the Singaporean government fund Temasek was estimated to have invested US $100 million.

The hunt for tech unicorns: How sovereign funds accelerate the digital economy | ORF (orfonline.org)