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SenseTime Backer Raises $500 Million to Rev Up IPO Train

  • All-Stars expects about 10 portfolio firms to IPO in 2 years
  • The near $2 billion fund backs Grab and Full Truck Alliance
A SenseTime Group autonomous driving system.

A SenseTime Group autonomous driving system.

Photographer: Qilai Shen/Bloomberg
Updated on

All-Stars Investment Ltd. has raised another $500 million to expand its portfolio of startups beyond such Asian heavyweights as Didi Chuxing, expecting about 10 of the companies it’s backed to go public within two years.

The Hong Kong-based venture capital fund, whose latest bets include the world’s largest artificial intelligence startup SenseTime Group Ltd. and ride-hailing giant Grab, manages nearly $2 billion of assets and will stick to later-stage investments, co-founder Richard Ji said.