Top Fund Managers Markdown Uber’s Valuation by Almost 15%

Top Fund Managers Markdown Uber’s Valuation by Almost 15%

Top fund managers, Vanguard Group, Principal Funds and Hartford Funds have re-valued Uber downwards by 15% to $41.46 in June, according to the fund managers’ filing.

” Top Fund Managers Markdown Uber’s Valuation by 15% “

Another fund manager, T. Rowe Price Group lowered the value by 12% to $42.73 while Fidelity Investments retained its valuation at $48.77.  The world’s largest asset manager, Blackrock, lowered its estimate marginally, maintaining the company value around $53.88. The company is privately held, and valuation of the popular car-sharing technology company ranges from $60 billion to $69 billion.

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Banks Passed Up Share Sale of Uber

Banks Passed Up Share Sale of Uber

The potential fees and reputation which could be gained from working on Uber’s Initial Public Offering are what ever bank looks for. However, at least two investment banks passed on selling shares of Uber to their high net work clients due to lack of financial details on its business.

“The San Francisco-based company has more than $16 billion in cash and debt since it started more than six years ago, most recently at a valuation of $69 billion. “

~Bloomberg

JP Morgan Chase & Co and Deutsche Bank turned down the chance to offer their clients the option to invest in Uber. At the end, Bank of America and Morgan Stanley sold their shares earlier this year through the private wealth divisions.  The San Francisco-based company has more than $16 billion in cash and debt since it started more than six years ago, most recently at a valuation of $69 billion.  If it were to go public at the valuation, it would have a higher valuation than almost 90 percent of the companies in the S&P 500 Index .

Related Reports: Bloomberg

 

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Sovereign Wealth Funds Throw Funding Lifeline to Tech Ventures

Sovereign Wealth Funds Throw Funding Lifeline to Tech Ventures

Saudi Arabia and other Gulf States along side with state backed investors in Singapore & China and invested money into technology investments such as Uber, Alibaba and its private affiliates. With overall funding for start-ups slowing down by a third to $25.5 billion in the last two quarters, according to data from CB Insights, high-profile ventures are turning to government funds or institutional money to create “private IPOs” rather than to venture capitalists or public listings.

“High-profile ventures are turning to government funds or institutional money to create “private IPOs” rather than to venture capitalists or public listings.”

~ Reuters

And only about 10 of the world’s 80 or more sovereign funds have made sizeable investments in tech ventures so far according to market research firm Sovereign Wealth Fund Institute

Related Reports: Reuters, CNBC

 

 About Sovereign Wealth Fund Institute

SWFI, also known as the Sovereign Wealth Fund Institute, is a global organization designed to study sovereign wealth funds, pensions, superannuation funds, central banks, endowments and other long-term public investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. We provide specialized services such as research and consulting to various corporations, funds and governments. Our flagship publication, the Sovereign Wealth Quarterly, is the premier publication on public sector asset ownership and management globally.

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