| Ant Financial Services Group, the financial services affiliate of e-commerce giant Alibaba Group, closed the world’s largest private fundraising round for an internet company at $US4.5 billion ($5.8bn), valuing it at about $US60bn. It raised its latest funding round from a clutch of investors, including a Chinese sovereign wealth fund and the country’s biggest insurers.
Ant Financial has courted powerful Chinese state-owned firms in its outside fundraisings. In this round, it brought in new investors including $US740bn sovereign wealth fund China Investment’s CIC Capital and a subsidiary of state-owned China Construction Bank...............................................Full Article: Source
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