Future Finance
Credit Suisse Invested $100 Million in Ant, Expects Windfall
- Credit Suisse is said to have invested during Ant’s 2018 round
- Swiss bank invested when Ant was valued at $150 billion
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Credit Suisse Group AG invested nearly $100 million in Ant Group during its last funding round, according to people familiar with the matter, setting the Swiss bank up for a potential windfall as the Chinese internet giant prepares to go public.
The Zurich-based lender, a frequent adviser on deals across Jack Ma’s empire, made the equity investment during Ant’s 2018 fundraising, which valued the company at $150 billion. Credit Suisse stands to make paper gains on the previously undisclosed investment if the offering gets a strong reception. One estimate from Bernstein projected Ant’s valuation at $210 billion, meaning a 40% increase from the earlier investment level.