By Ka Kay Lum
China Life is an existing LP in the fund’s predecssor, Strategic Partners Fund VII, to which it had committed $10 million.
The flagship Accel XIV fund totals $525 million, up from $500 million in 2016. Accel also raised a growth fund of $1.5 billion, up from $1.2 billion, and a $500 million Leaders Fund.
For Goldman Sachs, the suspension of new business with Mubadala comes at a bad time as Abu Dhabi is embarking on a privatization spree that raises the prospect of several big deals in the offering for investment banks.
The number of listed REITs in Asia’s fourth-largest economy is still small, with only six publicly traded property trusts out of the total of 222.
Korea Development Bank, Korea Investment Holdings, KB Financial Group, and Nau IB Capital’s growth capital fund also participated in the round.
The proceeds of the funding will help Cymulate expand its operations in the US and accelerate R&D.
EQT has previously said that it seeks to expand its investment portfolio in the Asia-Pacific by tapping mid-market and infrastructure opportunities.
Selling a stake in the self-driving business would allow Uber to offload part of a very expensive endeavor, as it faces scrutiny from prospective investors in an IPO planned for the coming months.
Alternative asset managers are under pressure to broaden their offerings as institutional investors seek to make big allocations to fewer firms.
The retailer provides an Amazon-like service in 14 African countries with customer numbers growing to 4 million at the end of 2018 from 2.7 million the previous year.