Deals
China's $6 Billion Tech Funding Boom Signals Flight to Quality
- Ant Financial raising record amount of at least $3.5 billion
- Didi Kuaidi, Homelink also tapping into new venture funding
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If the startup funding party is finally breaking up, somebody forgot to tell China.
The second-largest economy is avoiding the pitfalls affecting venture capital elsewhere, as investors around the world rein things in after an unprecedented technology financing boom. Ride-hailing app Didi Kuaidi, Alibaba Group Holding Ltd.’s finance affiliate and online property service Homelink are close to raising at least $6 billion, people familiar with the separate deals say. The operator of Alipay, Alibaba’s affiliate, is targeting more than $3.5 billion alone, which would mark the technology industry’s largest single round of financing.