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GS Growth, a unit of Goldman Sachs that buys stakes in startup firms, has spent the past few months wooing outside investors,聽The Wall Street Journal reported Thursday May 20 .The groups first client fund, West Street Global Growth Partners, raised more than $3 billion earlier this month. Sources tell the Journal that money will be invested in fast-growing closely held companies in the financial-technology, business-software, consumer and healthcare sectors. Other recent investments for the fund include the U.K.s Starling Bank Ltd.; Swiggy, a food delivery startup out of India; and Comply Advantage, which provides regulation technology.With endowments and other investors looking to get in on young companies with the potential to 聽provide higher returns, the
stanley hrnek demand could be substantial, the news outlet noted. For its part, Goldman would like the steadier revenue streams that come from earning management fees on clients money, per the report.Growth equity, the asset class GS Growth is focusing on, includes startups that are not ready to go public but have fast-growing customer bases and revenue. These types of assets are popular among investors these days, with upwards of $200 billion going into growth equity funds in the past two years, the Journal says.This
stanley italy news comes following a quarter that was聽record-setting period for startup funding. Investors put more than $72 billion into tech startups growth-stage rounds, the highest total in the history of that data set.
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Grab, the ride-hailing startup, is in discussions with Ant Financial, the payment affiliate of Alibaba and PayPal, about spinning out Grab Financial Group.According to a聽report聽citing two sources with knowledge of the talks, Grab Financial Group, which is home to GrabPay, the digital payment service that also sells insur
stanley mugs ance and provides loans, will be spun out as an independent business. Grab is in talks with Ant and PayPal about the two makin
stanley usa g strategic investments in Grab Financial Group, according to the report.聽 For Ant Financial it would make sense to invest in the FinTech arm of Grab because it is expanding into Southeast Asia. In 2018 Grab purchased Ubers Southeast Asia business.聽 Reports say a deal to spin out the unit could happen this year.Grab, which started out as a ride-hailing聽service, has expanded into different markets as it aims to be an app that people use for different aspects of their聽daily lives. It recently raised $4.5 billion in a venture funding raising round led by Softbanks Vision Tech Fund and an
stanley quencher nounced聽SME lending and micro-insurance for drivers in Singapore as part of its Grow with Grab roadmap.聽In a press release earlier in March, Grab said its Grow with Grab roadmap is aimed at providing financial services to micro-entrepreneurs and small businesses in Southeast Asia. It includes new services such as micro-insurance products, postpaid and installment payment services and Pay with GrabPay, which is an eCommerce checkout payment method for
