Singapore's GIC Says Becoming Skeptical of Technology Valuations
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Singapore’s sovereign wealth fund, which backed some of China’s biggest technology startups, is becoming more selective about investments in the sector amid soaring valuations.
An influx of investors of all stripes, from venture capital to sovereign wealth and hedge-funds, has driven up valuations of many unprofitable startups, Jeffrey Jaensubhakij, group chief investment officer of GIC Pte., said in an interview.