| Singapore’s two investment funds, GIC and Temasek, have emerged as the biggest state-backed investors in technology, telecoms and ecommerce in the past 12 months, ploughing a combined $3bn into the sectors. That dwarfs investment by their global peers, which have committed about $200m, says the Sovereign Wealth Center, which tracks sovereign wealth fund activity globally.
Moves include GIC’s investment last month in Flipkart, India’s largest eretailer, and Temasek’s purchase in May of a stake in China’s JD.com, an Amazon-like ecommerce site that competes head-to-head with Alibaba...............................................Full Article: Source
|